The Property Podcast TPP019: Our first property investments
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Jul 25, 2013 Hosts reflect on their first property investments, sharing valuable lessons learned. One recounts buying a sentimental property, while the other discusses a flat in King's Cross that's now a student rental. The discussion touches on the balance between emotional and numerical decisions in buying. They emphasize that courage in timing can pay off, as well as the importance of cash flow over waiting for the perfect deal. It's a nostalgic trip that offers key insights for aspiring investors.
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London’s Outperformance May Be Topping Out
- London may stop outperforming while value and growth shift to commuter towns and regional cities.
- External capital flows (e.g., foreign investors) skew London prices but don’t guarantee continued outperformance.
First Buy Was A Home-Then-Let
- Rob Bence bought his first property as his home: a large two-bed on The Wirral bought with a 95% mortgage pre-credit crunch.
- He later converted it to buy-to-let, kept one long-term tenant, and earns modest positive cashflow.
Countercyclical Buy In Leeds
- Rob Bence’s second purchase was a Leeds two-bed bought at £87,000 during the downturn from a developer.
- It now rents for about £700 with ~£300 positive cashflow and strong capital appreciation.
