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Young developers featured in Property Week

London rents are projected to rise by nearly a quarter in the next five years, according to research by Knight Frank – with younger generations arguably feeling the brunt of this overheated market…read full article on Property Week.

COMPLETED!

There is nothing like an auction win completing. Our deal did on Monday. A six week race to the finish line with all guns blazing but we got there.

This purchase is particularly sweet because it’s in my home town and is my local post office with two residential units above it.

Who knew that one day I would own a post office?! The stamping of receipts and cashbooks and the sticking of postal stamps from that wet pad were all things I wanted to do when I was a child. Post office clerk/postmaster was my idea of perfect shop play and future vocation.

Fast forward 40 plus years and the enormity of what we’ve just acquired has hit me. It’s a developer’s waiting game. We can’t just storm in there and rip things out and get to work like we normally would. It’s tenanted and the post office lease has a couple of years to run.
So why purchase this?

Commercial to Residential we believe is the way forward and having mixed stock in your portfolio can be a good thing.

Key take aways from this deal thus far:

* Raising funds for semi commercial units are tricky. The loan to value is lower and the interest rates are higher. Supporting the deal with an unincumbered property is massively important.

* Stamp duty implications with mixed use property. Get a good accountant to work this out. Don’t leave it to your solicitor. They have other magic to work.

* This is a long game investment. Not a quick in and out. However, the rewards could be great if more homes produced.

Contact me if you want to start your property journey but you’re unsure how to or you just want a few months of handholding to build your confidence and get you over that line.

#developer #propertyfinance # #investment

Auction Day

AUCTION DAY TODAY! No matter how experienced you are the run up to Auction is scarey and I guess exciting at the same time.

Why the stress – because it is SO unpredictable. Fact!

I do practise what I preach – prepare, prepare, prepare and do all of these things as a basic measure:

🏡 Visit the property (twice)

📚 Read the legal pack thoroughly (especially the Special Conditions of sale and the Addendum)

👩🏽‍⚖️ Instruct my solicitor to read the legal pack

🏦 Line up the finance / at least get Terms from a broker or direct from a preferred lender

🧱Have a Plan B and C – Have more than one Lot prepared that could be a viable option

👷🏽‍♀️ Have an available builder/team in mind. Someone who is going to be able to jump on the work immediately and not in three months time.

However until you enter the room (online or in person) you cannot predict how the day will pan out because the buyers you are up against don’t declare their hand until the bidding starts.
It’s not yours until that gavel goes down.

Buyers in the room with strong motivations for purchase (other than just portfolio building) means that some Lots rapidly become out of bounds and you don’t stand a chance.

Motivations such as purchasing because they want to live in it for a nearby good school or
they own the properties either side and they want to go for planning etc etc. These MUST HAVE buyers will always trump NICE TO HAVE buyers who don’t have the same conviction.

No matter how well organised you are these buyers will be prepared to break the ceiling price and pay way over what the property may actually be worth because of their motivation.

That said sometimes you enter a room and the buyers are just not there. That can also be scary because now you start wondering why!?! A whole other story.

Wish me luck!

#property #motivation #auctions

The Thoughtful Leader 

I was recently interviewed by Mindy Gibbins-Klein – Thought Leadership Speaker on #TheThoughtfulLeader podcast. It was a great experience!

The Thoughtful Leader features REAL thought leaders sharing with you how to position yourself as a true authority in your field. I was honored to be a guest on the show. Mindy is passionate about what she does!
 
In our conversation, we discuss:
Believe in someone and give them a chance.
An example of how someone helped another to succeed.
How to change your behaviour to create change by listening, making a decision, and proceeding with a thoughtful choice.
The social responsibility that comes when having money.
Helping other family caregivers navigate NHS, CCG and social services to help their parents.

If you enjoyed it, please do us a favour and leave a review and let us know what part made the biggest impact!
 
Also, while you are there, please make sure and subscribe to The Thoughtful Leader to get access to all of the new and informative interviews!

You can listen to the podcast through the link in the comment below.

#TheThoughtfulLeader #leadership #MindyGibbinsKlein

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