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??? So who do you think you are kidding "Mr Darling!" And we are NOT ON THE RUN - AS YOU PANIC Mr D!! (As in the original "Dad's Army" There really is no need to panic!) Panic e.g.1 Taking 2.5% off VAT to stimulate the economy - are your advisers "brain dead" in the current climate?? Small business people we know are tearing their hair out to modify their systems to collect this wretched revised tax anyway - but will it really make any difference to spending habits as 20% OR 30% sales abound? - we think not and it is wholly irrelevent to most Landlords. Panic e.g. 2 He is even allowed to get away with stealing perfectly good assets from Mortgage Express shareholders (with 3% of borrowers in arrears- say by 1 or 2 months - their assets are NOT TOXIC Mr Darling ) Panic e.g. 3 He's taken John Maynard Keynes "give everyone a pound and let them spend it" principle to stimulate the economy outof recession to a breathtaking scale and it is totally out of context. The borrowing levels of Keynes day were miniscule by comparison as a % of GDP, so were personal debt profiles, and "off balance sheet" funding probably had not even been invented!! Accordingly Mr D we award you the "Expert award" - where "X" an unknown quantity and "Spurt" a drip under pressure"!! The "crunch" will pass; confidence will return; our clients are still buying!! The writer is old enough and ugly enough to remember many past "scare mongering" stories - but is it not all to do with supply and demand? Do we still have far too little land on which to build the housing required - nay DEMANDED from increasing numbers of households?? Stop building and rents go up; rents go up too much- people need to buy again. Presently, and emporarily, some rents are softening as many people rent out their houses instead of selling. But people needing housing still is increasing! Right now the banks do not have enough confidence to lend money to each other. They are panicking to slow down the number of applications and increasing their margins shamelessly to pay for their past mistakes.. Eventually Banks will return to more normal times - but thanks to Mr D & B it will now be many months In the meantime, just look FOR GOOD DEALS! At Accelerated Mortgages,several of our clients are picking up good bargains - that are always around if you are a professional and look in the right places. We can help you to do the same - or get ready to do so Please scroll down below
This Landlord is not for Panicking because it's a buyer's market ! As a serious professional landlord, you realise that NOW is always the time to look for properties which "Buck the general trend" - those at auctions which will make say 10% gross return, those which are genuinely below market value (BMV) - but beware of the "packaged deals" from those unable to sell distressed new builds!! But to BUY AT BARGAIN PRICES you do need to Gear up your cash NOW Sellers -Some sellers are very keen to sell to "cash buyers" for all kinds of reasons - Some are desperate to move; others cannot afford their mortgage, or are "Virgin BTLetters" worried about risk. A quick deal is required AND SO IS CASH! If you have it - they will sell PROPERTY is available in a buyers market and ... ... Professional Landlords have "the nose" to spot these opportunities and are willing to take the risk & strike a bargain with sellers who may be faint hearted or who have been too ambitious and overstretched themselves. We are in touch with many landlords who are doing this successfully. They HAVE THE CASH AVAILABLE! DO YOU HAVE THE CASH AVAILABLE - for when you need it?
How do you get the cash? Some are fortunate and have cash piles sitting around. Most however need to get it ready at very short notice for when the deal is done, which could be this week, next week or in a few months time. THE EASY WAY is to PREPARE NOW!
THE HARD WAY is to agree a deal say at auction, think about it for a week or so then phone us and ask if we can help to complete in 7 days - yes, it really does happen!! And in this climate, we probably will not be able to help you. It is also an adrenaline drive and it is inevitably more expensive. Generally, the way to run a professional business is "the easy way" as opposed to a part time "Wheeler Dealership way" Perhaps short term bridging loans may work, however, deals do sometimes arise at short notice and as that infuriating and inaccurate retail slogan says "when it's gone, it's gone! - and with property, it really has! (Another one is not on the shelf next week) So we are very happy to help with any short term solution As property investors ourselves, we try to save you money whenever we can. Everyone has to start somewhere of course, and we have helped out several clients who have been in this unfortunate state - and they have still made money on the deal. REMEMBER - A Professional Landlord will have a plan in place to get hold of his/her cash quickly, know where it is coming from and it will not be dependent on raising money on the property to be purchased. It will be in the form of "ready cash" sometimes or to top up balances - but more normally, it will be in the form of approved offers on one or more properties in the rest of the portfolio. That process will of course have started say 4-6 weeks earlier! Armed with one or more offers, you do not have to "draw down" the money until you are ready to use it on a new purchase. Equally, remember you are not committed to use it at all. As you approach the expiry date of the offer, we will be happy to discuss matters with you and help with trying to get the offer extended or discussing alternatives .
Price Yield & Value DON'T THE MEDIA REPORTERS HAVE A "FIELD DAY" ?? Prices have gone down alarmingly; there's a further 30% drop to go; will we pull through etc etc. - DON'T THEY LIKE SENSATIONALISM?? They ignore the "GOOD NEWS" that house prices had risen consistently for over 120 months, they ignore the positive effects of "GEARING" on an investment (via a mortgage) and that Landlords look for BARGAINS - not average house prices!! They also ignore the bad news that this last "budget" is undoubtedly a classic Labour budget - long; overcomplicated and for most, difficult to understand; headline "giveaways" all over the place ; full of stealth taxes and it will burden all tax payers for years to come. (No, I am not a member of the conservative party!) In the meantime... ... Professional landlords are still investing by being RIGOUOUS over negotiating price, watching YIELDs now like a hawk and concentrating on finding property with GOOD LONG TERM VALUE Like most aspects of economics, it is all a question of confidence in the underlying product (or "sentiment" as described so beautifully by "Fortune & Bird!) - do please click on http://break.com/index/how-we-got-into-the-subprime-mess.html (it's a cut and past job until my computer skills improve! - but it is not only very funny - it is SO NEAR THE TRUTH - UNFORTUNATELY!) The crucial question is how will it affect us in a practical sense? Supply and Demand have not been in balance for a long time, and they still are not in balance. Many more people want properties than the number available. Remember - “they stopped making land in GB some time ago!! The Economic & Social Research Council's publicly available figures show that in 2001 we had 25m dwellings housing 23.5m households (+Vacant and holiday homes) A century ago almost 90% of dwellings were rented but by 2001 it had dropped to 31% In the 70's over 400,000 houses were built pa. By the 90's it had dropped to 190,000 pa But growing number of people cannot afford to buy. Yet a growing population and a significant increase in people wanting or needing to live alone as a result of relationship breakdowns - and they all have to live somewhere - both now ans when this recession is over. So - This leaves a major imbalance to be plugged by professional landlords Neither the Government nor Housing Associations are going to fill that gap. Every accredited report we have seen still predicts the chronic need for more housing units of almost every type . Undoubtedly there are imbalances, short term difficulties, the pessimistic press reporters (who often seem to have never actually owned a property themselves in their lives-so they SEEM TO write about what they do not understand THIS EVEN APPLIES TO SOME OF THE "SEASONED" REPORTERS "Buy to Let" is a long term professional business opportunity - there will always be imbalances of supply and demand. The secret is to identify these imbalances in your area - buy them and fill the gaps. We can help you do that. The secret is to find out where those imbalances lie and meet the gaps!! We can In a hole? -let's help you to stop digging! Easier said than done of course - but nonetheless, vital. There are plenty of unscrupulous lenders out there who want to "help you" when you are considering piling debts, bridging finance, secured loans or bankruptcyis looming - we talk to clients and often... ... Recommend the unusual - which earns us no money at all!! Whereas many advisors really want a very quick deal with you, whilst somehow getting you to take your eye off the ball and end up signing a contract to borrow at truly outrageous rates - please Don't do it! By all means get a quote if you must - but then call us and we will make a professional comparison for you and advise you properly - TO GET YOU OUT OF THAT HOLE FOR THE LEAST COST. There are expensive ways to get out of a hole - read any broadsheet and you'll see plenty of advertisements. There are inexpensive ways - we know where and how to find them Please Call 01628 850 999
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