Why would a developer discount a property for buying off plan especially in a rapidly rising market? The sole reason is that the company hasn’t enough money to complete the development otherwise they would keep the profit for themselves. Worst case scenario is that the company goes bust and you’ve nothing worthwhile to show for your money.
Hi Tony 😁another great video! I was wondering if you could cover bridging finance/bridging loans? The pros and cons of it and how it can be used to build a portfolio? Exit strategies etc😁many thanks 🙂
Hi Mason, thank you so much for the suggestion and whilst I'd love to, unfortunately I'm not allowed to cover tax or lending as I'm not FCA approved. I am sorry.
Simple. I could afford a new build through help to buy, and i couldnt without it. I earn a decent wage but in live in london where its extremely expensive
It really depends how you want to invest, e.g. if you don't want to be an active landlord managing refurbs etc. Off-plan isn't for everyone but I wouldn't say never. If you buy at the right time the benefits can be huge.
Great points you’ve made here Tony, off plan isn’t all it’s cracked up to be!
Thanks Thomas 😊
Why would a developer discount a property for buying off plan especially in a rapidly rising market?
The sole reason is that the company hasn’t enough money to complete the development otherwise they would keep the profit for themselves.
Worst case scenario is that the company goes bust and you’ve nothing worthwhile to show for your money.
Very interesting. I didn’t think about off plan property this way before , thank you for your valuable opinion.
My pleasure Andrew 😊
An interesting video Tony - not a topic which is covered much online (or from what I have found at least).
Thanks Toby 😊
100% agree... if you wish to recycle your capital and grow quickly
Well said Anthony 😃
Hi Tony 😁another great video! I was wondering if you could cover bridging finance/bridging loans? The pros and cons of it and how it can be used to build a portfolio? Exit strategies etc😁many thanks 🙂
Hi Mason, thank you so much for the suggestion and whilst I'd love to, unfortunately I'm not allowed to cover tax or lending as I'm not FCA approved. I am sorry.
Simple. I could afford a new build through help to buy, and i couldnt without it. I earn a decent wage but in live in london where its extremely expensive
That's a good point, thank you for commenting.
It really depends how you want to invest, e.g. if you don't want to be an active landlord managing refurbs etc. Off-plan isn't for everyone but I wouldn't say never. If you buy at the right time the benefits can be huge.
Thank you for sharing your view Jonathan, very much appreciated 😊
👍
Tony, If I don’t have time,interest,
experience and resources to built or refurbish and old property what do you recommend for first time buyer?
But a normal house or flat at market price in the normal way.
Bought apartment off the plan 15m2 short. Apartment settled last Friday where do I stand?
Have you ever actually bought off plan, are you speaking from experience?
Nothing comes for free. One must put in the hard yards to realize a profit. There are no shortcuts. Sorry.
Agreed 😊