If you didn’t make it to this months Luton PIN (Property Investors Network) meeting and you are a property investor or considering investing in property you missed a treat and an education from the 2 speakers, Mark Dearing and Mike Frisby.
Mark Dearing, gave an excellent refresher on the 5 most important things to do when investing in property and how it works for him:
1. Decide on your type of tenant.
2. Pick your criteria: houses or flats? A mix? 1, 2, 3, 4 or 5 beds?
3. Identify your area
4. Who to call? Ask the right questions
5. Do your due diligence
Mike Frisby gave an information-packed talk explaining how to achieve 51k pa year income within a year, using guaranteed rents and other landlord’s properties. With just 17 properties – £51,000 a year profit is achievable. This was a real eye opener for even the experienced investors.
We also had brief updates on the Mortgage and Lettings market.
Richard Clarke of Advocate Finance provided a mortgage update including:
High street banks – tightening up BTL lending criteria;
RBS & NatWest – now have a Loan to Income cap of 4.99 times LTI for BTLs;
TMW and Shawbrook, no proof of income for experienced landlords.
And I gave a useful comparison on rental values and demand separately in both Luton and Dunstable with a summary of the demand from different tenant types per property size.
This is all extremely valuable information and with the networking opportunities with fellow landlords these meetings should be in your diary each month if you are serious about property investments.
There is no PIN meeting in August but they will return in September and if you would like some more information visit this link http://bit.ly/1q8mFqm
If you have never visited a PIN meeting before contact Daniel Bourke at Belvoir Dunstable daniel.bourke@belvoirlettings.com for a guest invite and join more than 40 other investors at this popular and informative meeting.
