Have you continued investing during COVID?

[Mark Rocks 53]

It's safe to say none of us could have predicted how 2020 would pan out. But have you continued on your investment journey despite the COVID19 pandemic, or has it made you change course?

On today's podcast, Rob & Rob chat to three of their investor panel to see how this year has affected their property investment journey.

Unsurprisingly it's caused some to go back to the drawing board in terms of residential investment, but Sarah says that COVID has actually had a positive impact on her portfolio...

Grab a brew and give it a listen, and if you've continued to invest let us know how COVID has impacted you; https://propertyhub.net/podcast/investing-during-covid/

[dino v 145]

Completed on one last December, so technically during the pandemic, just none of us knew it. Since it's properly hit the UK, we completed a refurbishment, remortgaged it and are in the process of conveyancing on a new one, which will hopefully complete in 2020 - hoping it does, or we'll have a gap in the purchases.

So has it changed anything? Not particularly, although currently difficult to find anything suitable and maybe 2021 will be a year of consolidation to see where the market and wider economy goes, in case there are any opportunities coming. Also a chance to see what new rules and regulations there are.

[nicholas_b 51]

Remortgaged one (tenanted)

Refurbed one (tenanted)

Regretted pulling out of one in March.

Completing on one (solicitor stage) now

 

I'm lucky to be in a secure job, have good tenants, and have found a good opportunity with one... with me being in it for the long game I have carried on. Could potentially have waited but we are only here once, so let's go for it.

Someone put a brilliant post about how much potential income could be lost sat around waiting... and it really resonated  hence the latest purchase.

 

[Mark Rocks 53]

21 hours ago, dino v said:

Completed on one last December, so technically during the pandemic, just none of us knew it. Since it's properly hit the UK, we completed a refurbishment, remortgaged it and are in the process of conveyancing on a new one, which will hopefully complete in 2020 - hoping it does, or we'll have a gap in the purchases.

So has it changed anything? Not particularly, although currently difficult to find anything suitable and maybe 2021 will be a year of consolidation to see where the market and wider economy goes, in case there are any opportunities coming. Also a chance to see what new rules and regulations there are.

Glad to hear you weren't faced with many changes! It'll be interesting to see what happens in 2021, and we'll obviously be keeping everyone up to date on any new rules or regulations that come into place.

[Mark Rocks 53]

18 hours ago, nicholas_b said:

Remortgaged one (tenanted)

Refurbed one (tenanted)

Regretted pulling out of one in March.

Completing on one (solicitor stage) now

 

I'm lucky to be in a secure job, have good tenants, and have found a good opportunity with one... with me being in it for the long game I have carried on. Could potentially have waited but we are only here once, so let's go for it.

Someone put a brilliant post about how much potential income could be lost sat around waiting... and it really resonated  hence the latest purchase.

 

It's great to know that you were inspired to not sit around waiting thanks to another forum user, that's the sort of inspiration we like to see in the community!

[lukel 6]

On 11/26/2020 at 8:05 PM, nicholas_b said:

Remortgaged one (tenanted)

Refurbed one (tenanted)

Regretted pulling out of one in March.

Completing on one (solicitor stage) now

 

I'm lucky to be in a secure job, have good tenants, and have found a good opportunity with one... with me being in it for the long game I have carried on. Could potentially have waited but we are only here once, so let's go for it.

Someone put a brilliant post about how much potential income could be lost sat around waiting... and it really resonated  hence the latest purchase.

 

Nic I love your energy and view on things I am looking to purchase my first BTL this year and start my portfolio I’m excited and keen to start I had some viewings cancelled due to selling learned my lesson on not sitting around and getting out to view places quicker, I am looking at Crewe as an area to start my journey, do you mind me asking where you are currently investing and where you was due to complete on?

[nicholas_b 51]

2 hours ago, lukel said:

Nic I love your energy and view on things I am looking to purchase my first BTL this year and start my portfolio I’m excited and keen to start I had some viewings cancelled due to selling learned my lesson on not sitting around and getting out to view places quicker, I am looking at Crewe as an area to start my journey, do you mind me asking where you are currently investing and where you was due to complete on?

I'm not far from sheffield. I'll be honest I wouldn't invest in my first property that is hours away. I wouldn't invest in anything miles away anyway; everything is local to me so I can sort bits and bobs and know local tradesmen too. 

I would really advice on investing close to home. That's just my opinion. I would get to know the streets around you inside and out, that's how you spot a good price. Some people have Excel sheets and clever way of calculating things, but I'm more tangible, I like to know and see and feel so stay close to home.

The longer you wait, the more you risk being priced out of the market. The one I pulled out of went up by about 15k last year... so that was a lesson to me - trust instincts and go for it.

[lukel 6]

Thanks Nic I live in North London so I am unable to buy locally so I am currently throughly researching area and speaking to other investors to try and get an idea for the areas as well as avoiding the bad areas and trying to buy in more desirable areas. Thanks for the tips.