Monday, 8 September 2008

Will the stamp duty holiday make any difference?

Well at last he did it, 'dithering Darling' at last went into action. After halting the property market in its tracks by his 'will he? won't he?' scenario, he has at last chosen to take off stamp duty for a year on houses below £175,000. But, will it make a difference?

It may indeed make a difference to the market but we suspect not the way the Government intended. First time buyers still lack the confidence in the market, they after all, have a different mindset from investors. Their goal is to buy a home, one that is within their budget. For them investment, or the fact that the housing market will improve and the prices will rise, is not as important as getting the right finance.

That is the crux of the matter at the moment - finance. Many first time buyers or those with a less than a squeaky clean record are finding it difficult to get lenders to lend.

Investors on the other hand are poised to dash in for the kill! Investors have a different perspective, for them it is the price, the yield and the eventual remortgage possibilities which drive them.

Prices at the moment have fallen, fantastic time to buy.
Products from mortgage lenders are coming back on the market.
And now, no stamp duty for a part of the market where investors buy heavily.

But it won't last forever.

Go out and make hay now - because the market will change before long.

Join the Hampshire Property Club now and get access to masses of information, news, views and meet the experts!

All the best to you all
Dennis

Monday, 7 July 2008

Wow what a night! Hampshire Property Club

We had an amazing insight into how two ordinary (well, extra-ordinary I think) people created a property portfolio worth over £25 million in three years using none of their own money!


The evening of the 3rd July at the Holiday Inn, Basingstoke was buzzing with members of the Hampshire Property Club. The audience included a wide spectrum from those yet to step upon the property ladder (and what a time to buy!) to those who already have a number of properties and have been in the industry for years.

Peter Hassett and Tony Swift gave a presentation that totally blew us away. They explained how they started with no money of their own, to the present day when they 15 properties at one go! They explained how they chose properties, how they financed their first deals and how we all can emulate their success.

They gave us advice and tips on how to start, what to look for, how to negotiate and how to create a portfolio worth over £20 million in a few years.

But the night was made extra special because they shared themselves. This was not a 'talk-down-to' presentation, or a diatribe on how good they are, Peter and Tony shared themselves. They explained their doubts, their mistakes, their struggle through to where they are today.

We felt as if the journey was ours!

It was a totally wonderful evening and we thank Peter and Tony for their commitment, their help and their advice on the road to property wealth.

The Hampshire Property Club itself is now one of the fastest growing property networking clubs in the UK. It is the premier club in the south-east of England with monthly meetings in Basingstoke.

http://www.hampshirepropertyclub.co.uk registration is free!

Over 200 members in just four months from a standing start! Can't be bad.

But the joy of it is the amazing people that belong to the Club. It is a privilege to meet and get to know others in the industry.

Networking is one of the most powerful tools in your armoury!

And thanks to Peter and Tony we now have something to aim for - a multi-million pound property portfolio.

All the best
Dennis

Saturday, 14 June 2008

Get away to a place in the sun?

Hi everyone,
If you feel like you deserve a break, why not rent our apartment in Spain for a week or two?
The rent is moderate and it has all sorts of benefits. Full air-conditioning as well as 24hour fast internet access on an ADSL line. It is close to the shops and just a short distance to the sea, where the beaches are magnificent.
Have a look at the site with all the details at
http://www.rentals-costablanca.com/033.html
Best wishes, Dennis

Are you wary of no money down deals?

Hi everyone,
There are quite a number of ‘no-money down’ deals being offered in the property market. Since building societies and banks pulled this popular method of mortgaging, others have stepped into the breach. BUT? Are they legal? Will there be tax implications later in the years to come?

There are those unscrupulous sellers who will try to inveigle you into such a deal without telling you of those implications. The other week one finance property firm contacted us and offered us a deal with a £5,000 cash back. When asked if this would be viewed as income and so create an income tax liability, the seller quite blithely dismissed the idea, never, no, not at all. But, income is income, and yes it does involve tax issues.

On the other hand, some of these deals could be excellent in the present climate.

Our advice? Read all the information about these schemes, then at least if you choose to take one, you will be doing so from an informed basis – prepared for anything that might arise later.

We have received from Andrew of Summit Finance an excellent report entitled ‘The Truth Behind No Money Down Finance’

It is a 49 page report from well-respected self-made multi millionaires Mark Tolley and Chris Wright, and is particularly appropriate in these troubled financial times. Mark has a background of accountancy whilst his long time business partner has 18 years experience in the finance and mortgage markets. A formidable partnership!

Read all about it now at http://www.summitfinance.co.uk/nmdfinanceexposed/hpc.html

The report has been written because of the major changes in the lending market and the methods that many investors have been using have all but disappeared. Mark examines in detail many of the schemes being offered now as alternatives to the former ‘No Money Down’ schemes, and their viability.

Some have considerable tax implications although on the surface they appear suitable, while others have a somewhat doubtful provenance, and may be stacking up problems in the future.

The purpose of the report, which is very detailed, is not to make recommendations
but to examine all the available schemes and leave the investor to decide which he should adopt.

This is a very useful report indeed, and because of the experience of its authors is authoritative and makes excellent reading. We shall certainly be taking the advice contained in the report in our future investments.

We strongly advise you to purchase this very moderately priced report from
http://www.summitfinance.co.uk/nmdfinanceexposed/hpc.html



Dr Dennis Coote Property Investor Author of ‘Property Development for Profit’

Tuesday, 10 June 2008

Is Cyprus the new Holy Grail? Or is the bandwagon about to tip over?

It seems that whenever there is a dip in the market in one place, someone finds somewhere to build, and build and build - and then sell, and sell, and sell.

There is money to be made from property, we all know those property millionaires who took the risk and went for it and made it. Congratulations to them - how did they do it? They invested or speculated whichever way you want to look at it, and it paid off. Most wealthy people have a property portfolio, so investing in property is obvsiously a good action to take. Many made their fortune through property and in the world there is always a 'hot spot' in which to invest.

The hot potato at this moment is Cyprus. A very interesting Island. We visited it a few times some years ago and it has had its problems. However the situation on Cyprus has radically changed in the last few years - joining the EU must be one of the greatest changes - as well as becoming a holiday destination for many - there is talk of oil exploration - it is a tax haven - international airports are being built.

There is excitement abounding in the Cyprus camp, with the areas, villages, towns, new build apartments and holiday complexes being shouted about around the Larnaca area.

But as with any country over dazzled by money from the UK and Europe, there are many who jumped gleefully onto the bandwagon and eventually upset it. Dodgy lawyers, dodgy builders, illegal licenses, mortgaged land, corrupt officials - all are eager to sell you their prime plot in the feeding trough!

Is there money to be made? Without a doubt, for those who do their due diligence, want to jump in quickly and then get out quickly, the prices of properties will rise within the next year or so. And then? Over building, corruption, another new hot spot and the prices will level and then drop.

The parallels with Spain are awesome. Many made a mint out of properties in Spain and no doubt Cyprus will be the same (providing it is the right place in Cyprus - one acquaintance of ours cannot sell his two bedroom apartment in Paphos for any money!).

Would we invest in Cyprus? Yes we would for the short term.

Comments gratefully appreciated, so please post.

All the best to everyone
Dennis
Hampshire Property Club
Renovation Riches

Monday, 26 May 2008

Stab in the back for independant mortgage brokers?

There is a very worrying trend in the mortgage market.....banks and building societies are offering a number of mortgage deals direct to customers only. They are cutting out the independent mortgage broker.

Quick to take advantage of the fears and anxieties in the money markets, (which they created in the first place!) banks and building societies are now creating further problems. Mortgage brokers will not only feel the pinch of the credit crunch they are now being cut out from the best mortgage deals.

Many investors relied solely on independent advice from mortgage brokers. They were able to give us the best deals whoever the lender was. Now we have to go to banks and building societies individually, work out who is offering the best deal at what particular time and suffer all their hype as to why theirs and only theirs is the best.

http://tinyurl.com/46x8mg

It is a lean time for all of us, but to cut the carpet from under the independent mortgage broker is a real stab in the back for the industry.

Comments would be gratefully received. We need to know what is the truth of the matter, and how we can all stop this trend.

Cheers
Dennis

A pack of frozen peas and a fixed rate mortgage please?

Well it had to happen. The banks and building societies caught by their own fear have left a gaping hole in the market. It is true that the lenders were lending out to many who could not afford to borrow, and that many new-build, off-plan properties were over-hyped and vastly over-valued. What we are seeing is a settling of the prices to a more realistic figure.

But there are still large numbers of purchasers desperate to buy properties and there are now a vast amount of vendors desperate to sell.

The void in the middle left by the banks and building societies are crying out to be filled. And then guess what......?

Tesco? Virgin? Well what about Asda?

http://tinyurl.com/62fe3g

So down to your local supermarket....pick up a shopping trolley....some veg and fruit and a Buy to Let Mortgage??

Well perhaps not that easily. But there is a silver lining on all clouds and maybe this time of turbulence will create other possibilities?

All the best to everyone,
Dennis