Spotted: Homes Under the Hammer August 2017 Savills aired last week!
Gosh who knew. Be careful what you wish for. I’ve always wanted to be on Homes under the Hammer little did I know I actually was! There is nowhere to hide in the auction room.
Fairly new to Property Investment, Delores, my business partner, and I went off to Auction to dabble back in June 2017. We ended up bidding on a flat which we didn’t win – we had been outbid before we even started! See clip below.
As newbies we had no idea someone would go straight in and start the bidding at £25k (for a short lease property) ABOVE guide which totally threw us. Today we enter the room with far more knowledge of price, experience of the process and gumption and often walk away with what we went for! Having a strategy and doing your research before auction is key. Don’t leave home without it.
It’s funny that even back then we had a thing about garages and I recall that attracted us to this property. One of our themes seems to be garages. They have so much potential on many levels and can support future growth especially now in lockdown.
What’s your property theme?
The Property market gets the green light to reopen today
Lockdown rules eased for homebuyers and sellers
The Government yesterday announced new regulations that will lift the seven week freeze on property viewings and home moves. Effectively the green light.
People will now be allowed to travel to visit estate agents and view properties. The announcement follows guidance which signalled that surveyors could return to work.
Although this is positive news for the property industry it appears to be frustrating for others as they argue that it is bizarre you can walk into a stranger’s home to peruse and take your time viewing but you are not allowed to visit close family members to do the same thing.
Does any of this actually make sense?
I believe it does because we are all different and will have different priorities. We have to start somewhere. Much of it is actually down to common sense.
Since the sector has been suspended since the end of March new sales have dropped off. The process of buying and selling a house is now going to be radically different. The guidelines are being finalised but what we know now is that doors should be left open around homes when viewers are in attendance and washing hands and social distancing maintained.
Getting a mortgage is still a big issue. Self employed people amongst many others have seen their salaries plummet during the Covid-19 outbreak. It is estimated that more than 450,000 buyers and renters have been unable to progress their plans to move home since March. Therefore, re opening the doors may not mean very much to those who now cannot afford to sell or buy.
Should the light be amber rather than green?
The fear is not going away. We’re all scared, and we are going to have to live with an element of fear going forwards. The government have said that we are now past the peak so there is hope but no guarantees.
We know that once the green light is on you have to drive forwards and cannot stop start to cause an even bigger accident.
This long Bank Holiday as it is now called is going to have to come to an end at some point that we can be sure of because the cost on our economy, our schools, the taxpayer and our sanity is off the scale.
One in a Hundred
F : Entrepreneur celebrates the dynamic and inspirational businesses led by women in the UK. Last year they launched the #ialso100 campaign. A Hall of Fame of 100 female founders who were recognised for their inspiring stories, business journeys and the multi-dimensional, fast paced lives they were living to the full. I was in awe of every single one of the class of 2019. Many I had the good fortune of meeting and getting to know. This year I’ve joined the class of #ialso100 2020 (https://f-entrepreneur.com/ialso-100-2020/)
You could say I’m the Imelda Marcos of Streatham. Because I have a shoe closet full of shoes (and handbags). And I step into a carefully chosen pair to match an outfit and an event. I also (you can see the inspiration behind the name of the campaign) step into so many roles over and above my role as a Property Developer. I’ve said ‘yes’ to additional commitments because they touch my heart, feed my soul or provide me with a route to putting something back. I believe you rise by lifting and inspiring others. Always have. This post is for all of those of you who also step into many shoes and are making it their goal to be in the #ialso100 class of 2021.
Lorraine the Property Investor
For the last two years, I have run View From My Windowwww.viewfrommywindow.co.uk A property investment and development business currently developing a £3.1m project and smaller residential projects with my business partner Delores. It was born out of a belief that ordinary people can dream big and lead the lives they want to lead. Right here. Right now.
Previously privilege would stop many who did not have access to funding, big accountants, lawyers and financial advisors. Now I believe the only thing that can stop you is you and the fear of failure.
Through coaching, mentoring and joint venture partnerships, I provide the confidence, tools and techniques to step into the world of property with very little or no money.
Lorraine’s #ialso life (a tiny tiny snapshot)
Before starting my property journey I said goodbye to marketing and business development (https://www.linkedin.com/pulse/360-degree-me-lorraine-thomas/ ) and my very decent salary working in major law firms in the City to care for my father who was suffering with Parkinsons and Dementia and earned £62.50 pw on a carer’s allowance.
I used that experience to help others. To be honest I never felt richer with the blessings that came my way from taking that action.
#ialso was invited to join the Lambeth Carers network which feeds into writing the mandate to shape the provision for Carers in Lambeth.