*TOP SECRET* The BEST Location To Invest In Property In 2024?!
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- čas přidán 7. 05. 2024
- Monaco... Hong Kong... Dubai... London... Birmingham...
Which of these places would you choose to invest in property?
If you said BIRMINGHAM, you would be absolutely CORRECT!!
Welcome to Money Matters! Today, I'll guide you through essential steps every property investor must take to ensure they buy in the right location.
I recently bought six off-plan property units in Birmingham. JLL predicts these units will see a staggering 20% boost in capital appreciation before I even collect the keys!
What do you think to this investment?
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Money is affluence, but health is wealth - look after yourself whilst you can Paul
Great piece Paul, and as a fellow engineer I particularly like it when you delve a bit deeper into the technical side. Thank you for the insights. Very much looking forward to seeing you at the upcoming PWN event.
Best wishes
Dylan
Thanks Dylan, much appreciated and look forward to seeing you. Paul
Calculations are correct for a cash buyer but buying on a mortgage can get even better - (If the interest rates are favourable). By buying a property of £100,000 but only putting down £25K plus £5K for purchase costs - you are only putting down £30K and bringing in the same rent (for example £12K) less your interest only mortgage at 4% of £3K pa = £9K pa income. On that basis, you are getting a return on capital of 30% PLUS the capital growth over time. *This obviously disregards tax on mortgage payments if not a Ltd company and running costs. If the property doubles in value in ten years - that is not 10% per annum but 7.1% but add that to the 30% and you now have 37% ROI better than paying cash. On top of that - Stick the other £75K that you would have spent on buying the property in the first place into the SP500 and you'll probably be bringing in an additional 10% per annum on the £75K as well - OR, buy 3 more properties !
I have previously bought an apartment in Manchester and I couldn't get a mortgage on it as the high st lenders considered it to be an 'investment block' and then my broker tried specialist lenders and they refused as well for the same reason and they were nervous about cladding even though it didn't have any.
Are these apartments for SA, better check the lease.
You will get lending if you are the first dozen applications but after that it's tough because everything around you is landlord owned.
And how do you know where you are in the queue in relation to mortgage applications.
best steer clear.
Forgive me for asking, but what is the issue if they are for investment?
This is all part of your due diligence. You have to know all these things before even considering investing. The point of this video is comparing pure yield world-wide using simple tools. Good luck.
Who really wants to rent a flat in Birmingham for £2000 a month? Crazy
I would say that you pay a premium for a new build, so it is unlikely the capital growth will be 19% in 3 years. Also, capital growth on flats is historically less than houses as well so I am not sure investing in new build flats is the best strategy....?
8% before yearly increasing maintenance charge and ground rent for leasehold flats? Is it in JLL's own interest to talk up future growth for prospective buyers? in my experience rent levels will be under pressure when many landlords bought in the same location and same block of flats. Please correct me if I am wrong
Great points, Ground rent is nominal, virtual freehold. Service charges are excellent and facilities top end (concierge, bars, rooftop lounges, gyms, etc). JLL have an excellent reputation.Rents we are seeing are well above our business plan. This was just an example. Far more importantly your investments need to meet your investment goals and meet your requirement for due-diligence. Of course you have also to take a long term view (trends of population growth or decline, economic factors, supply and demand etc). As long as you invest with your eyes wide open and have solid numbers to back your plan based on sensible assumptions then exploring the alternatives, as I do in this piece is a good exercise. Good luck.
Mr Paul Smith please stop bombarding me with absolutely annoying advertisements. Some of the worst adds on CZcams, if I could tell Google to tape your mouth I would.