The Progressive Property Podcast The Big Property Investing Question Quantity or Quality ?
Join Kev as he explores the question of quantity -vs- quality in property investing. He talks about the quality of house, tenants, refurbs and and reveals the most important things you need to weigh up when purchasing property.
KEY TAKEAWAYS
- You have to think about mortgage -vs- cashflow but also growth.
- You can get good tenants in all income brackets in all areas of society, just because someone has money and can pay more, it doesn’t mean they will be a higher quality tenant.
- Knowing your area is essential to finding quality tenants. They will be ‘areas within areas’ and one street can make all the difference.
- The monthly rental profit isn’t the only number to focus on, you also should look at the capital growth opportunities.
- A lower quality area means less capital growth but you probably will have a higher cash flow as your initial outlay is less.
- Whether you focus on quantity or quality, the most important thing is that you just get started and don't procrastinate!
BEST MOMENTS
"Are you sacrificing quality for quantity?”
“You need to know your area”
“Your return in the North looks better in the South”
“What I am always focused on is cashflow, cus cashflow is the oxygen for the business”
"It doesn't matter if you go for the quality or the quantity, what matters if you go for something"
VALUABLE RESOURCES
MSOPI – Multiple Streams of Income:
https://www.progressiveproperty.co.uk
ABOUT THE HOST
Kevin McDonnell is a Speaker, Author, Mentor & Professional Property Investor. He is an expert when it comes to creative property investment strategies. His book No Money Down: Property Invest talks about how to control and cash flow other people’s property to create financial freedom.
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