Getting Started in UK Property Investment

UK Property Investment: I would like to start but how do I do It?

UK Property Investment: How do I start? Is it really possible to buy my own property and build my property portfolio during this pandemic?

UK Property Investment: Alan writes I'd love to invest in property but with the past year and it's issues, savings and non-existent what would be the minimum amount I would need to invest in buy to let? It seems that this is only an option for people with money these days? And are buy to let still viable investments considering the deposits required?

It's harder now, you know and I'm not going to deny that when I built my portfolio in the UK each property was treated as an individual property. They didn't look at the rest of your portfolio as long as you had clean credit they weren't worried about your income, nothing. So it has got a lot harder now you know and at that stage I remember the northern rock where you had 110% mortgages you know so you could build them up very quickly.

I was fortunate enough to arrive in the UK just as that kicked off and take advantage of that and build a large portfolio. If I have to redo that now it would be a lot harder and it would take a lot longer but I think the important thing here is start off where you can okay so you've got to get the minimum amount for the first one and whether that's savings or whether that's you know from you know loan from parents or whatever you know you know inheritance however. The trick is for this is start and keep building. I just did last night's webinar on how to get started in property. If you sign up to the autumn webinar series you can actually get a hold of that. It talks about how to build a portfolio and the biggest problem that I see with a lot of clients is that they find you know I can't afford it so therefore i'm stopping. No, you can't afford it now but put a plan in place to work towards that and in the meantime read as much as you can get highly educated.

There's plenty of options out there on UK Property Investment and how to do that. Yeah look you do need money these days. I love these people that jump on and say you know I built you know 10 properties with no money down great you know and if you can do that fantastic but for most people that's not realistic and for most of you know probably 90% of people that say they did that it's BS you know unfortunately it's not that easy to do.

It's a very different market in Scotland, it's a smaller market. There's some fundamental changes namely oil and gas with all the issues there and that I know Aberdeen and a few of those places house prices have dropped considerably. So, it 

As someone looking to get into UK Property Investment, how do you know if I'm being too emotional about my decisions?

Look if it's your first one you are going to be emotional. The biggest thing you can do is just spend more time making sure you know the area making sure you understand what's going on in the area making sure you do the cash flow right making sure you get all those ducks in a row. Do your research, go and visit the area, go and do a walk round yeah look at the plans for the future and all that sort of stuff.

I think that that's key and when you do that you know look that'll help the emotions but at the end of the day there's a decision to be made and you are going to be you know shit scared of making that first decision. Of taking that firstly but you have to do it yeah you have to do it once you do the first one actually everything gets easier from there. But most people they sit there and they procrastinate and that's not what you want.