This week we were talking about how to take advantage of cash deals.
What? The guys who are always preaching leverage are talking about buying in cash?
Well, there’s nothing to stop you refinancing a little down the line – but buying in cash in the first place can allow you to do fantastic deals while your competitors are all twiddling their thumbs and waiting for a mortgage offer.
- The benefits of buying with cash
- Two ways to find the deals (depending on whether you’re buying from an agent or direct from a developer)
- How to move fast enough to get the deal done
It’s not for the faint of heart, but it can give you access to some great opportunities – and Rob B gave an in-depth walk-through of a fantastic cash deal he arranged for his investors recently.
Take a listen and see if it could work for you!
Resource of the week
Several resources this week, as we rounded up a few property management tools that were recommended in The Property Hub following our recommendation last week.
- Andy Norman seconded the Lodger App
- Lee and Andy Brown both recommended Property Hawk
- And our own Rob D mentioned Pocket Rent
Also on the same thread, a software developer is asking about your requirements and bugbears because he’s considering developing an application of his own. Check out the thread and give him your thoughts!
This week’s news
This Is Money ran a story about how the best mortgage deals are away from the big-name lenders. They were talking about residential mortgages, but exactly the same principle holds true for buy-to-let.
It underscores what we’ve said several times before – whatever you do, don’t just walk into the bank where you have a current account and pick from one of their options. Do your research, and preferably work with an expert who can find the best deal for your circumstances.
Mentions this week
Rob D’s new book is out next week, and it’s been made the Property Tribes Book of the Month already!
We’ll be sharing some of the main insights from the book in next week’s episode, but if you pre-order before its official release date you get a couple of extras thrown in for the same price. View the pre-order details and check out a sample chapter here
Join the conversation!
Do you have any experience of cash deals that have worked out very well or very badly?
We’d love to learn from each other’s experiences, so join the discussion in The Property Hub!
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