I’ve been around the ‘property game’ now for longer than I care to recall, having bought my first properties in the mid 80’s “but I wish I knew then what I know now!”
I was extremely lucky actually as I bought three houses converted into 10 flats, for £10,000, so equating to £1000 each; just after completion I was contacted by a chap who owned numbers 51 and 55, I had just acquired 53 and he wanted to buy that but missed out. The conversation went along the lines of:
“Hi mate you just bought 53, do you want to sell it”
“Yes I’ll sell it”
“How much do you want?””
“Give me £10,000”
“What you just paid that for the lot”
Anyway, he bought 53 off me for £10,000 without me lifting a finger, so I got the other two free effectively, I went on to sell them in the early 90’s when interest rates were at 17%. Anyone remember that? “I wish I was there then!”
But if only I knew then what I know now would I have sold? Just before sitting down to write this newsletter I did a little research on some comparable evidence in the area of 53 and guess what? The properties in the road are now going for in the region of £225,000, £56,250 per flat, that is an increase of about 250% since 1986. 29 years, an average of 8.5% per year and given that the last 9 years have been flat (excuse the pun) that is still some growth?
It’s interesting as the 2015 NAEA report predicted 7/8% growth this year and next so it seems to prove the trend.
Now I am sure you will all have heard the saying “I wish I was there then!” But let’s say you had the advantage of a Crystal Ball, or someone was to offer you a genies lamp and he popped out and told you that this level of growth was coming again and going to continue, would you have jumped in and bought something or geared up to buy more? I bet you would, because you would have just had the risk element removed, because you believed in your genie so you just couldn’t loose.
Well here’s the “rub” I want to be your genie, because I was there then and I am here now and I can tell you, it is here again and happening all over again and the educated predictions are that it is going to continue for at least the next 5 years up to 2020 and beyond.
“I wish I was there then” well you are here now! So don’t worry about missing out all you need to do is take positive action.
There are different ways of getting on this band wagon and taking advantage of this growth and we can show you a couple
1. In the first place you can join our team and become a franchise of Go Direct Lettings by immersing yourself into a full blown property career, being fully trained and supported to take advantage of all the benefits this new boom will offer up.
2. Or we can assist you develop your portfolio by sourcing property investment opportunities for you across the North West and supported by our expert management.
So if you are serious about a future built on brick and mortar don’t sit on your hands It will be too late to say “I wish I was there then” when it has passed. You are here now your genie just told you so.
Comments are closed.