The Progressive Property Podcast Should You Buy or Rent a House if When The Property Market Crashes?
FREE DOWNLOAD How YOU Can Make A FORTUNE From Buy-To-Let
Kevin wants to talk about what is happening in the property market right now and use his decades of experience in creative property techniques to answer the question that keeps being asked, should you rent or buy?
KEY TAKEAWAYS
- Property values have risen well above the cost of affordability for many.
- Interest rates are going to have to push prices down now, people can’t afford to pay the mortgage rates that will be available.
- 05’06’07 was very similar to the past three years, it was a boom followed by a drop, this is what Kev thinks will happen next.
- You can still buy, but you won’t be able to time the market this is for amateurs. Property investing is a long game, if you can afford to buy now then you should.
- If people can’t afford to own property at today’s rates, then they don’t have a robust business.
- More millionaires are made when the property market goes down, there are opportunities to be had everywhere.
- The banks are confident that the rates will be coming down again or they wouldn’t be offering low rates on fixed mortgages.
BEST MOMENTS
“There’s a lot of people scared out there, a lot of people that don’t know what they should do”
“There will be mass repossession, this is my prediction”
“The amateur is trying to time the market”
“You can make money when the markets going up, you can make money when the markets going down”
“If you’re one of my tenants, you should be buying!”
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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