There are industry storys and goings on which really get my goat. In this podcast, I reveal the seven stories that infuriate me the most… they aren’t pretty!
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Hello and welcome to the NC Podcast, my name is Natasha Collins and I am the founder of NC Real Estate. If You have not got my property investment expansion formula flowchart you need it because it’s going to give you all of the steps on one a four piece of paper about how to grow your property portfolio from the start to get that is https://ncrealestate.co.uk/flowchart. That’s https://ncrealestate.co.uk/flowchart, it’s free to you and any investor who wants this just to have so you can see the stages of property investment because that’s what I’m all about helping landlords and property investors build profitable property portfolios that completely aligned with their goals.
[00:01:14] And this is the very first resource that you should have or if you’ve been doing this a long time. It’s a resource that you should have. I’m high on your phone go through it so that when you feel stuck, you know what to do next. So go and get yours. It’s completely free. It’s https://ncrealestate.co.uk/flowchart.
[00:01:34] So how are you doing this week? I hope you’re really well. I haven’t paused actually for a second to tell you what I am working on right now property wise. So let me just give you a quick update on the two projects that I’m working on. Number one is 341 Newark Avenue, Jersey City. That’s an exciting project.
[00:01:59] Although currently still with the architects were waiting for the plans to come back. That is a development that I’ve just started working on with my joint venture partner over here Isaac. We bought it back at the start of August. And what we’re going to do is turn the property into two condos the ground and basement is going to be a three bedroom duplex where the garden two parking spaces going to be beautiful.
[00:02:27] And then the top floor is going to be a two bed, two bath. Penthouse type condo unit again, it’s going to have an outside space that they can use and it’s going to have two parking spaces to and when there’s not leaves on the tree so wintertime you can get the top of Manhattan views. So that’s the first project that I’m working on right now.
[00:02:50] I’m hoping that we’ll get the plans back shortly and we’ll be able to start developing that in the meantime. We actually have tenants still in the top floor who are paying us a little bit of ram which is supporting our development Finance, which is a nice position to be in in that area zoning rules for you and the UK that’s planning laws.
[00:03:13] Allowed that building to be converted into to condo units so we don’t actually have to go through the equivalent of planning. We do have to just make sure that we get all of the fit out past. I’m not good with the terminology and Omar has the essentially the local Council to make sure that we can do it and then we are going to get into demolition of the outside.
[00:03:37] We’re going to dig down a little bit in the basement actually to give the basement for height ceilings. And then that’s going to mean that they’re going to have a deck area outside and in the kitchen, they’ll have floor-to-ceiling. Is which will actually open out onto the deck area outside. It’s going to be beautiful and very excited to get started with that when I have got the plans.
[00:03:59] I’m going to be posting them on Instagram, which is Natasha C Collins if you’re not already following me, so make sure you are Natasha C Collins and Linkedin. I’ll share it on LinkedIn. I’m Natasha Collins MRICS and in the property investment Mastery Facebook groups. So wherever you are following me.
[00:04:19] Depending when I guess you social media point of reference go follow me and you can see those plans as they come out project. Number two is a bungalow in bath UK and I’m joint venturing with my mommy and she has owned this property for a while. Didn’t really want to do anything with it, but I know she wants to sell it and it’s got such a huge plot of land with it that I’m going to do the development.
[00:04:48] And so at the moment I’m going through a feasibility study as to whether to put up to three bed semi detached properties on there or extend the three bed Bungalow out which is quite small into a large for bet now, you might say to me Natasha of. To three-bed Sammy’s is going to make you more money is the thing.
[00:05:10] It’s going to cost me far more to develop. So unless the profit is that much bigger. I probably will go with the for bed Bungalow because there is a garage to attach to the side of the Bungalow, which is already got gas in it, and it’s. So I can open that up put the kitchen in there make a bigger master bedroom put some Conservatory extension on one side open out the living area and it can look gorgeous.
[00:05:38] There’s also space on that driveway to park three cars and still a garden that over looks beautiful. It’s like the ideal property really and its opposite a gorgeous primary school that you would want to send your kids to there’s a bus stop just outside but a little bit down the hill like literally it’s 10 meters down the hill and so not even that far.
[00:06:04] I mean like perfect and if you want to get to bath spa uni rare 10 minute drive, but those are people who would like running you can run. It is down a hill up the hill again, but hey, it’s gorgeous. It’s like a gorgeous Somerset Countryside or you just walk down the hill and into town. Perfect.
[00:06:22] So. That’s why we are very start of two projects and at the start projects things run really really really slowly. Hmm. So that’s why I’m doing and running across continent my gosh International property investors. So what that’s been like 10 years in the making. Hey, it’s cool. It is cool. I’m enjoying it really enjoying it how nice to be in a position with two projects on the go and FYI.
[00:06:57] I am looking for another development project in the UK with my development company. We’ve got roughly 300,000 pounds to spend, you know, where to hit me up. If you’ve got a deal, please don’t send me deals that you’d find on Rightmove. Honestly, honestly, like just don’t because I’ve been searching right move and you auction catalogs and co-star and the EG for these deals because actually I want a mixed use commercial right?
[00:07:29] So if you know any think that I would not have seen by going on those websites. Then feel free to hit me up on social media and we can have a talk about it, but don’t ask me to sign any massive non-disclosure agreements or put down any money up front. I don’t play that way. Simply have an honest conversation with me because we were in the property industry.
[00:07:50] I’m not about to go behind anybody’s back because I pride myself in being open honest and transparent. If you want to have a conversation with me, please have an open conversation with me and an honest conversation with me so that I can make a decision if it’s right for my company or not. But that’s what I’m doing.
[00:08:06] Anyway, I’ve got a lot of people that I’m talking. To about this as well. I have a quite a lot of contacts throughout the UK. So once that comes up we will jump on it, but I’ve only been searching for about a week and a half. So I wasn’t expecting to just click my fingers and Dill fall into place because I love just said I’ve got another two deals on the grow.
[00:08:26] It’s not urgent, it’s just I’m putting my feelers out there for to see what we can find. I know Sean my business partner who wants to get involved in this as like chomping at the bits. What’s happening every day? That’s how sure what have you found? What if you found them? And I’m like nothing yet Shawn, but we will get there. We will get there.
[00:08:46] So I’m on the search, heads up. That’s what I’m doing right now! So that’s a bit of an overview of my property projects right now. It’s lovely nice exciting Lots going on today. I wanted to talk to you about something that Riles me up and this is fake news in the property investment industry because there is a lot of it going around and we need to have these conversations so that you can start weeding out the good with the bat and I think the first place I want to start is…
[00:09:20] Cladding.
[00:09:22] Hands up who’s had their mortgages declined because there’s been cladding somewhere on the building that a surveyor has told you is there who in the audience I can imagine a lot of hands going up. You might be something the tube right now go with your hands like in your pocket trying to put it above your oh pop your shoulder.
[00:09:43] I get you. There was so much of this going on right the problem with cladding started with grenfell you all think back to grandfather’s horrific horrific scenes of that building going up on fire my God within a couple of hours that building had been. Pandu crisp and people inside it bloody how like terrible should never have happened should never ever ever have happened on anybody’s watch nothing like that should happen.
[00:10:19] But here’s the thing. What was then went around the news was that there was that cladding on the outside which was incredibly flammable, which made. The building when the building did catch on fire it spread very quickly, which okay, first sort of cladding isn’t allowed really in the EU. It hasn’t been for a while.
[00:10:43] But this has been on the building for a little bit of time shouldn’t have gone on the building. But what’s happened is is that any buildings were cladding on and now suspect for the same type of cladding now, I’m not a building surveyor side note. So I don’t know too much about the different types of cladding.
[00:11:03] Okay, so let me give you that side note but what I do know, is that the cladding on grenfell? Yes, not great quite flammable, but there was other problems. They did a cheap bodge job of. The this cheap building where they didn’t put in place proper compartment. So fire compartment so fire could spread really easily on the outside of buildings windows and doors were fit upside down.
[00:11:37] So we’re so then fire could spread because if you. Didn’t know to contain fire you shut down the oxygen which is why usually fire doors. They seal a seal areas and they’ve compartmentalize it. So hopefully that stops the fire because you’re not feeding your not fueling the fire, right? This building was not doing that.
[00:12:01] It was not doing that. It hadn’t been built correctly everything about it was just terrible down to the fact that. Residents couldn’t get out of the building quick enough because the fire spread to quickly there was just no health and safety really thought about and again we’re talking about unfortunately.
[00:12:23] We’re talking about a building that was really built quickly cheaply by local Council who really seemingly didn’t care. So. Not what we’re not talking about is that that same cladding that on other buildings is going to be that much of the hazard but hear me out as a surveyor. I have professional Indemnity insurance that I have to get every single year to keep my self insured for all of the advice that I give to my clients and as part of that I have to sign now to say that I don’t advise on clad.
[00:13:02] I don’t advise on cladding. But if I do advise on cladding, my premium goes up and I have to make sure that I am giving my clients the best quality advice and that I’m not getting it wrong. So what our surveyors doing to protect themselves so that they don’t get sued on the back of it. They would be going round and going all that cladding might be it might be the same cladding that was on and the outside of Grand Valley.
[00:13:31] I don’t know because I’ve not done that much of an investigation, but I’m going to say to the mortgage lender beware. And that’s what we’re experiencing at the moment. So what I am calling for from this podcast, please if you’re listening can someone tell me. How we find out what types of cladding is on these buildings whether it’s an investigative building survey, whatever it is.
[00:13:55] How do we now defer differentiate because most buildings are built with some sort of clearing come to the US every single building has some sort of cladding on the outside of it and. It’s not going away because actually it’s quite a cheap way of making property and it’s not only cheap. It can be quite sturdy.
[00:14:14] So it’s not an awful way of building and you can use sustainable materials shock, but if lenders aren’t gonna lend then we might have to go back to work. Older way of building buildings and that doesn’t solve anything because then what we’re doing is the development pipeline takes. Huge amounts of time is taking a long time to put these buildings up and then we’re still stuck in a situation where we don’t have enough housing to support the population.
[00:14:44] So we want to be moving forward and using materials that really can support growth and it can support quick building but also protect the people inside of it and be sustainable so that over the years it wears. Well it’s insulates. Properly. It keeps Heat n we need a solution to that. I’m sick of hearing that everything is like grenfell.
[00:15:09] Because it’s not there’s so many different types of cladding that you can put on buildings. I know it I’ve seen it. So I’m calling fake news on the fact that everything is grenfell style cladding. Yes, it would be an issue. If every single building was put up with doors and and windows in the wrong way round and there’s no Fire Department fire compartments.
[00:15:31] There’s no smoke doors. There’s no. Sprinkler system going through and there’s no smoke alarms, right? Okay. Well those kind of buildings do burn through pretty quickly. But if they’re built property properly building control sign them off. We need to have identification about which cladding is fine somebody if you listen to this and you know, please let me know.
[00:15:57] You’ve got my social media get in contact with me. Let me know which which cladding we can put on the outside of buildings and. How we present that to mortgage lenders so that they still lend on these buildings. So that’s number one fake news. Number one fake news. Number two gross yields, please.
[00:16:18] Don’t come at me with grocery roads, honestly meaningless. So many so many people quote me rent purchase price. Which gives you the yield not it doesn’t because there’s expenditure that comes with that whether your mortgage whether your maintenance whether your service charge whether accountancy fees Insurance managing agents letting agents.
[00:16:48] Start quoting net yield which is rental income less expenditure equals your net rent. That is what is giving me an idea of how much your property is making. Anybody who is selling you anything, which is quoting a yield is probably grow sealed which leads me on to my third fake news. guaranteed rental schemes at Annex.
[00:17:17] X yield and usually it’s like seven or eight percent yield. Some of them are 9% Some of them are 12% Listen up if someone is giving you a guaranteed, and they can’t tell you whether that’s net or gross, It’s probably because it’s gross and when I have questioned this before and said, well, it’s gross.
[00:17:36] It’s meaningless. I have been shouted out on the phone that I don’t know what I’m talking about. I do know what I’m talking about because I want to make sure that my investments make money and a seven percent gross yield chances are that’s going to make me what a hundred, hundred pounds a month not worth my time investing in really not worth my time investing in so I want to urge you that if you see something that shows a yield.
[00:18:01] That is, between 7 and 12 percent and they’re doing it on these guaranteed investment schemes. Please be super wary because the other thing is they’ll probably sign you out on a contract which says that if they can’t find tenants me, it’s your problem don’t accept that. It’s far better that you just go out and find your own property that is going to work for you rather than get into one of these big schemes where there’s fifty to a hundred properties that they’re going to let out for you because that’s fifty to a hundred ten.
[00:18:35] So they’ve got to find in the same building right where is and that’s a huge competition a huge market and if a tenant I mean I I can I can. Experience I’ve experienced this where a tenant can easily start negotiating because they’ll say well hold on a minute. This building’s got I don’t know 10 12 units vacant so you don’t want this unit to be vacant.
[00:19:01] Do you if I move out so I had like a fifty percent fifty pound deduction in rent a hundred pound adduction and ran or I’m not paying a rent increase. What are they going to say to you when they say well that we’ve let this tenant move out. We’re going to have a month void and then the yield is going to go down because actually the net red isn’t now worth 12 months ran.
[00:19:19] It’s 11 over 12 months. You see it’s fake news because it’s not the real picture of what’s Happening. You can even he go for a true picture of. Yield, you can even include to what does your net yield look like with two months rent-free. Hmm or two months boys even so what would what does it look like if it’s got that too much void period if it’s still three four five percent or above Fab that’s a great investment if it’s below that you need to be questioning whether that’s a good investment for you.
[00:19:57] So, please look at these schemes because I do think they’re fake news. It’s just attention grabbing headlines, which when you start on picking the pieces really isn’t what you want them to be and going back to the initial fake news. Number one. They’re also not be built really cheaply. So you have to go in there and have a look at the snagging and make sure that they’ve got building control sign off.
[00:20:23] That’s a side note, but just from experience some of these buildings they try and get it out the door sold really quickly forget to do all of the like health and safety and Property Management stuff that they should do. Just get it lat. Oh, we’re worried about whether these tenants are going to burn in a fire off.
[00:20:40] Twist. No, no, don’t don’t do that. So, please check them out. I saw one building that didn’t have any working Windows. It’s like a greenhouse. So just be wary of this if you are going if you’re tempted to buy one, or you are buying one, please go and look at it. Don’t just take it at face value from the pictures.
[00:21:04] So be wary of that gross yields. No. Guaranteed rental schemes even bigger. No. Go and have a look at these properties and really go and find them yourselves and go and get a deal that actually works for you and your goal.
[00:22:11] Okay, that brings us up to fake news number four headlines which have Market fluctuations as a percentage such as the UK property Market has dipped by 1.2 percent this month. Okay Fab meaningless meaningless. That’s just an average over the whole of the UK. But when you take into account London and the south east and how much that’s dropped at balances out all of the yummy increases that you’re seeing in the north.
[00:22:45] You’re even seeing some yummy and increases in the southwest all of you lot by a Devon and Cornwall if you’re looking in the right places. Don’t look at headlines and think I need to get out. The property Market is not grabbing. Doesn’t mean anything you need to be looking at it on a post code by postcode basis, really or even your local area, you know, the immediate area around a new development prices are going to rise, but you’re not going to see that by looking at a global figure.
[00:23:15] So please if you’re looking at house price. Ignore the headlines. They are just clickbait. That’s all they are. Everybody loves a good bit of Click bait because then you read you think wow. I’m shuddering in my boots. Like I don’t quite know what’s going on. Don’t do that. Just look at house price date for or even property data for your local area and your immediate area.
[00:23:38] In fact, if you could do it on a nought point two five mile radius, that’s what you’re going to be looking at if you need to widen it out a bit fabulous. Just make sure that you’re looking at it on a local by local basis. And that’s going to give you a better indication of what’s going on in your area.
[00:23:53] Then these glow board these Countrywide statistics next up in fake news, please can I call this out? Because I am sick of seeing it, if I see it on my feed, I’m blocking you. Giris and swimming pools or leased cars.
[00:24:12] I don’t care if you are in it. I don’t care if you’re driving around in a Lamborghini. I’m really I actually am fed up of seeing this because just because you are in some sort of holiday destination or you’re driving around in a potentially fancy car means nothing, nothing in the slightest. What I want to see from people on social media is your real story what goes on.
[00:24:43] You know the fact that you were on holiday in a swimming pool is fantastic, good for you. Take some time off when you’re lounging around in a swimming pool. Please take that time off to look after yourself. I want to see what happens in the afternoon when you’ve got a Tenon on the phone who’s going I hate you as a landlord because you’ve done X y&z.
[00:25:02] I want to see how you’re handling that. Maybe you’ve got some service accommodation and you’ve got an air B&B guest who’s shouting at you because the oven doesn’t work. How you handling? I want to see the real life day to day of what’s going on because it’s not always fun and games. Yeah, it’s lovely.
[00:25:21] I mean yesterday afternoon. You know what I did I worked in the morning about one o’clock. I actually had my Airbnb guest phone me and say “Natasha I can’t get the oven to work”. So I taught them through it half an hour later. I went to the beach. You’re not seeing me on the beach showing off what I’ve been doing on a beach because I’m having time off because I work hard and I’m showing you when I’m working and I’m showing you what I’m doing, but quite frankly the time off when I’m just relaxing as me being personal and it’s personal to me how I relax like to see the hustle.
[00:25:55] I like to see what happens. I like to see how people deal with tough situations because that’s how I learn like that is what I learned from. Similarly, I want to know before you start filming your flash car whether that’s least or you’ve bought it outright. I don’t care about you driving around in a Lambo.
[00:26:13] I don’t care about you driving around in a Range Rover. I honestly don’t care unless you’re going to tell me what’s happened to get you there. Side note. I don’t have a car because I used public transport. I mean I sometimes I run a Carver I need to go places but I don’t need to show people all my assets or my handbags or my jewelry or and I know some people feel like that they have to look flash to to kind of give them some confidence.
[00:26:48] I guess. I think that’s where it comes from. But please I beg of you if. You want to show off what you’re doing. Please show the hard work and the grit like that to me means so much more because then I can actually like understand, you know, sometimes I have hard times. I’m like, who can I look at to see you know, how did they deal with this?
[00:27:12] Okay, great fabulous. I’ve got some ideas now of how I can move on. I honestly get nothing from someone being in a swimming pool telling me what to do. Like I don’t I feel sorry for them that they feel that they have to do that and they’re relaxing time or maybe they’ve staged it and if you staged it’s even worse.
[00:27:30] So I’d like some transparency. I’m calling fake news on that kind of stuff. Let’s start being a bit more real with one another and showing each other what’s going on because it’s not always. Like hunky dory to remember how long it took me to sell my last flat and every week. I was like guys I really don’t know what’s going on.
[00:27:49] Like I can’t even I can’t like I can’t give you good advice right now on how to sell this flat because even I’m struggling. You know, I’ll be honest with you about it because there’s certain things that sometimes catch me off-guard. We’re all dealing with different properties were all dealing with different people.
[00:28:05] We all do dealing with different situations and that can be tough because if you come on get up against someone that’s bloody-minded someone that wants to shout at you someone who is going to pin stuff on you. I mean my gosh, we can all understand when someone can’t afford to pay their or if you don’t understand this I’m going to tell you.
[00:28:26] When a tenant comes to you or not, when a tenant comes to you when a tenant stops paying rent. You cannot immediately be mad at them right again, when a tenant stops being paying rent. You cannot immediately be mad at the because you need to find out what’s going on because there’s a story from that side and you need to understand that you need to either work with them.
[00:28:53] Don’t even either work with them. If they’ve left fine go get your property back if they haven’t left and they still want to live there. You need to come to a solution and you’re not doing that from a hot-headed point of view, but I want to see how people are dealing with that because for me when that happens to me and you know, nothing’s perfect.
[00:29:12] And I don’t sometimes I’ve had a tenant say to me Natasha. I can’t afford my rent this month, okay. Fine, you can’t afford your rent this month. Can we please talk about what we can do to help you out so that you can stay here if that’s what you want to do, or maybe they want to leave. Fabulous the door is wide open go.
[00:29:31] It’s fine. I’m not going to come after you if that money if you can’t afford it as it is a waste of my time and quite frankly. You’re probably in a shitty situation. Anyway, you don’t need someone like me coming after you’re making matters worse. There’s a human element behind. That’s what I want to see.
[00:29:48] I want to see Humanity in action, Idaho. I don’t need the rubbish. So please can I please please please I promised you always to be real with what’s going on and admittedly some days so much goes on that. I can’t share everything because I’m doing this and I’m doing that and I’m doing this and you know, it happens in passing and it just continued some of the things I do.
[00:30:11] I almost on autopilot where I don’t really know. No, I don’t really know. I don’t cop I forget to share because it’s just so normal for me to do that, you know the days where I do my accounting on my spreadsheets or the other day when I had a conversation with my accountant. He’s like Natasha you’ve reached a tax threshold where the government would like you to pay your taxes up front for the next 12 months.
[00:30:33] I’m like. what? No have to find areas wealth of tax when I’d put this in Investments. I will swear okay fine, you know, like we work around everything that happens all the time life’s not perfect. Please promise me. You will always show me your hand what’s actually happening? No judgment because that is how we learn and that is how we grow as an industry which leads me to the next fake news.
[00:31:04] I am so fed up of property and vents where it is a panel of white men. I’m not coming end of we need diversity on stages. We need to see what different people are doing with different amounts of money. Depends on I don’t you know, you may have Deep Pockets you maybe a pension fund. I want to see what the Pension funds are doing.
[00:31:24] I want to see what that one person is doing with one property. I don’t want to see. The same sort of man on stage. Telling me about how to grow my wealth. I literally have I’m not impressed by it quite frankly don’t care anymore. Stop running your ads to my social media for you. Because I now block it if I see it far too much.
[00:31:55] And here’s the thing it breeds as well because if you’re a man listening to this, don’t get me wrong like I love men in the industry and I honestly like you you seriously stay stay because you’re making the industry a better place. I’m talking about those people who put themselves on stage and they run conferences and they only invite white men to speak to.
[00:32:16] Why are you doing that? Why are you doing that? Because then all you are breeding is a bunch of white man coming to look at you. It’s simple it really is simple. I want to see women. I want to see people from around the world. I want to see different coaches. I want to see how different people invest because we all have different investing Styles.
[00:32:38] If you’re copying one another God there’s a place ins in a room shut doors for you. I want this industry open because at the moment, it’s 84 percent men 16 percent women. Come on, let’s start showcase and the people who are just awesomely out there doing it not walking around in some suit that don’t care about let’s show the personality of the industry, please like there were so many awesome people out there or simply here’s a good idea run your ads to people who are just the same as you so I don’t have to see it or start inviting people who represent the whole industry.
[00:33:21] Please one or the other because. we have no time in this this kind of this age where we’ve got to be looking after our tenants. We’ve got to be looking after the built environment. Hey, like our resources are could run out in the next 50 years. I’ll buildings have to be sustainable to match the fact that we need longevity.
[00:33:43] We need to be talking about the issues that matter not just deepening our pocket. Sir, please events need to be showcasing this as well. Because a lot of people say to me Natasha. Why don’t you go to these sorts of training events or these sorts of networking events because honestly, I look at the lineup and I think is I’m not interested.
[00:34:07] Interested I get I get better perspectives just by like emailing someone and asking them questions will may be showing up to just like a breakfast at someone’s hosting or maybe IDM someone on Instagram, or maybe I connect with someone in my Facebook group and I’m like tell me about X y&z and they do and I’m like, oh life is open and enjoyable and I’m learning star.
[00:34:30] Please let’s have a bit more of that in the industry. Like honestly, that would just be. Oh my gosh, what a nice industry to be a 900k right? I should I should disclaimer this by saying I have not run any events for a long time and. I really should but because I’m never in one country for long enough have not had the time to put that together.
[00:34:55] So watch this space. It is something I’m very passionate about doing and I guess it’s a long-term Five-Year Plan to have an event like that because I need to. Know how to run them. I’m not an event planner by Nature. So do you watch the space and if you have any ideas for me, actually, that would be awesome getting contact me social media me tell me what it is that you are you would like to talk about.
[00:35:19] Let’s see if we can even host forums, you know networking events online. That is something that I can definitely do and then finally finally finally finally. Fake news increasing tax will help first-time buyers. Get a leg up now. I’ve spoken about this loads of times. The hope is that by property investors paying more tax.
[00:35:44] They will they won’t buy as many properties which will leave more properties on the market for first time buyers. No doesn’t happen like that. If the government want more first-time buyers buying property, they’re going to need to help them they do with the help to buy schemes, but they’re going to have to educate more people who want to get on the housing ladder and actually take it on a situation by situation basis that is what needs to happen rather than taxing property investors out of the market because there’s always going to be a rental.
[00:36:18] I know everybody wants to own a house and the place that they live in I we don’t own the have the property that we live in a New York because we’re not going to be here forever. It would be stupid to buy somewhere and then need to get out of it because actually thinking about what happened in London when we I mean, I I’ve got properties that I own in London, but we were living in the one that we owned and it cost us 20 grand and hold costs because we couldn’t sell it before we moved out here.
[00:36:49] East that’s expensive and yeah, we made it back in the sale, but my gosh, like if you don’t you know, okay. We thought we were going to be in London for a lot longer than we were and that was the reason we wanted to buy and it was fine. It was great and fabulous that we wanted to buy but there’s a time and a place for buying and there’s a time and a place for renting and each should be given its own is each has got its own market, right?
[00:37:16] So. Let’s just be honest about that that higher tax will bring property investors out of the market, but you cannot expect everybody to buy because there is also people who can’t get mortgages. Have you seen the expat mortgages at the moment? They’re starting at something ridiculous, like eight or nine percent.
[00:37:39] That’s not it that’s not helpful. That’s not helpful. That means there’s a kind of a sector of the UK which can get onto the property ladder because they can’t get a mortgage. Oh, okay. So they need to rent people who don’t earn enough to get mortgage in the place that they want that they currently working in need to rent.
[00:38:02] You know, it’s a good stepping stone in your, you know, bed the start of your life or the start of your kind of independent life. Getting a market that’s a time to place for renting. There’s a time and a place for buying and each needs to be supported. So this in these interest this the tax hikes not cool.
[00:38:24] So I’m hoping we’re going to start to see things change. So that’s my list of things that at the moment are riling me up and a fake news and I’m like if I could take all of that out of the property market and put it in a bin. He would help obviously that’s not going to happen and I will always continue to try and make this industry a better place to be in because I believe that it needs to be open and we need to be very honest about you know, what’s going on and who’s popping it up.
[00:38:56] But but we also need to be very open to each other’s ideas because the more we share. The better the industry becomes and the better we look as property investors and the more support we guess and the more we can help each other out once we get there. Like wow. Wow, what a community but we’ve got a bit of a way to go.
[00:39:18] So if I’m hoping by calling this out as given you Food For Thought not offended you if it has. as you should have taken it like that cuz I’m not I’m not trying to be I’m not trying to be offensive. I’m trying to basically say. Come on, we can do better and we keep moving forward and I’m here for I’m here for an it completely inclusive industry.
[00:39:43] We just need to be open honest and transparent about what’s going on because that is the step in the right direction. So I hope you enjoyed that podcast. I hope that it’s opened your eyes to some things. I hope that it’s given you. And idea about how I feel about things I will keep trying to move things forward if you want to go and get that property investment flowchart, which I really really suggest you do.
[00:40:11] Remember the address is https://ncrealestate.co.uk/flowchart. Follow me on social media at Natasha C Collins. You can come and join the property investment Mastery Facebook group. I hope you’ve enjoyed this remember to like And subscribe because your support means the absolute world to me and it means I can keep going with the podcast.
[00:40:33] So, please please do that. I’m here to support you through property investment. So it’s been a pleasure this week. I cannot wait to catch up with you again soon.
