What to Buy Right Now During Lockdown

Are you thinking about joining the world of property investment but don’t know where to start? Or are you simply looking to expand your property portfolio whilst there are some deals around? Well, listen in today as Mark answers all your property questions from commercial to residential conversions when the best time is to pick up a deal as well as busting the myth that the buy to let industry is dead. KEY TAKEAWAYS: It is likely that there has been a lot of reduced prices in the commercial sector since the pandemic. There are great deals in this sector emerging with some commercial buildings going for less than half their original listing price. The easiest sector to do commercial to residential conversion is an office building or a retail building with up to two apartments as you don’t need planning permission. Whilst they won't be the cheapest in comparison to pubs or larger retail units, they do offer the least amount of hassle in regards to planning permission. Property values are already decreasing. By the end of this year the economic situation will inevitably get worse because the grant money, furlough schemes and all the loans will start to wear off. Now is the time to be out there buying stock and bidding on cheap property as there will be some good deals out there. There is no predicted exact date as to when the best deals will be. Start building your contacts with estate agents now, you may get a deal now but if not you will have built that bank of contacts and by the time the cheapest stock is out there all your contacts will be in place and you will be offered the best deals first. Now could be a good time to purchase land if the price is right, due to recent changes you can get more planning consent on greenfield sites. You may use this period to get planning consent and then in a couple of years time you can be building and selling into the market. Buy to let is alive and well you just need to buy the right property and ensure that it is high yielding and make sure you are putting it at the right sort of entity for the tax treatment. It is also a good strategy to buy single lets and utilise them as long as they are high yielding and bought for the right price.   BEST MOMENTS “This time around I will do the same things, just go and buy a load of cheap stock that is high yielding.” “The best deals are the ones that you find, you should get started now.” “Buy to let is absolutely not dead, how could it be? Think of how many landlords and how many tenants are in the country.”   ABOUT THE HOST Mark Homer is an entrepreneur investor.  He has worked with investment since he was 15 years old using the laws of wealth! He is a spreadsheet analyst with an impressive following from major publications including BBC Radio, The Wall Street Journal, The Independent, and co-authoring the UK’s best-selling property books.  Mark has always looked for the best investment vehicle, and at the end of 2007 with Rob Moore the co-founder of Progressive Property his joint portfolio produced more profit than any of the other investments he’d tried in the last ten years, combined.   CONTACT METHOD Email: [email protected] LinkedIn: https://www.linkedin.com/in/markhomer1 Facebook: https://www.facebook.com/markprogressive Twitter: https://twitter.com/markprogressive‘Brought to you by Progressive Media’: https://progressivemedia.uk/