Invest in properties now or wait? Invest in properties now or wait?
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  1. #1

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    Default Invest in properties now or wait?

    I've good warchest currently , thinking of buying 2x BTL in North West. Was thinking if, maybe, anyone got some insights on where the market is heading, or have an interesting article to read on the topic (recent).
    I know brexit is coming and theres ongoing pandemic and T3 lockdown so was thinking to lowball on some properties perhaps , however the prices seem quite stable.
    Also buy when everyone is fearful..
    Last edited by GitMaster69; 20th October 2020 at 22:34.

  2. #2

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    First thing I'd say is to work out if you are going to buy them though the company or privately. May alter your decision or how many etc. Once you've got the detail right then you can look at the execution IMO.

    Also hard to give advice without any numbers. If you buying them brings your warchest under a year of living I'd say no. If it doesn't even scratch the surface then carry on..
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    Mortgage applications are quite high at the moment, due to the stamp duty holiday. I expect prices to fall.
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    Single resi's are not really my market.
    But there has been a small dead cat bounce outside London up as far as the Midlands that I know about especially in very desirable areas.
    Most of the people I know are expecting a big fall in the resi market after crimbo.
    The part of resi that is my market has already seen some falls this is owing to the specialist nature of the market (entire portfolios)
    Lowball offers might work.
    If you are financially comfortable you might feel free to strike but do not expect growth in values for some time and expect some slide after purchase.
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    I heard on't radio the other day (or was it in the Grauniad?) that lots of property transactions are at risk of not completing before the stamp duty holiday ends because the surveyors and conveyancers are maxed out so transactions are taking a lot longer than normal.

  6. #6

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    Quote Originally Posted by ladymuck View Post
    I heard on't radio the other day (or was it in the Grauniad?) that lots of property transactions are at risk of not completing before the stamp duty holiday ends because the surveyors and conveyancers are maxed out so transactions are taking a lot longer than normal.
    Yes, I read that as well.

    Also I read a lot of horror stories on the money saving expert forum of people waiting for weeks/months for their mortgage application to be processed and approved. So far, the worst was about an application submitted in June and the offer being sent out in October. Don't remember which lender, I want to say NatWest.

    Anyways, just like property prices went up because of the stamp duty holiday, the prices will gradually go down the same amount when the holiday is finished. For the long term prediction...ask scootie

  7. #7

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    NLUK has a good point about getting your affairs in order to decide whether to buy personally or through a SPV - Take that research seriously

    It all depends on who the seller is and what the yield is - I personally wouldnt buy now but I have seen a few properties in auction where the seller is distressed and the yields are 7% and these are residential freeholds where the 7% return comes from housing benefit payments so pretty much guaranteed.

    Is it a bad time to buy? Yes unless you get a very good deal on purchasing...

    Also be prepared for more BTL tax and generally more rights for the tenants going forward

  8. #8

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    Quote Originally Posted by NowPermOutsideUK View Post

    Also be prepared for more BTL tax and generally more rights for the tenants going forward
    Yes, I think I read something about that. Landlords will need to give a 6 months notice if they want tenants out; sounds like a loooog time.

    Especially if you rent to some scumbags who can just stop paying at that point and then what do you do, can you even evict them? Not sure about that

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    Quote Originally Posted by PCTNN View Post
    Yes, I think I read something about that. Landlords will need to give a 6 months notice if they want tenants out; sounds like a loooog time.

    Especially if you rent to some scumbags who can just stop paying at that point and then what do you do, can you even evict them? Not sure about that
    Its 6 months at the moment.
    Section 8 almost a non starter at the moment.
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    Quote Originally Posted by courtg9000 View Post
    Its 6 months at the moment.
    Section 8 almost a non starter at the moment.
    Exactly you would need a very good case for buying now - Like I said 7% + returns do compound nicely but if you are buying a standard london BTL with a 3% return just forget about it - Not worth stress

    Read the rics survey here https://www.rics.org/globalassets/ri...ember-2020.pdf

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