This week, Simon talks about a rather controversial point – that why, as property investors, you must never sell your properties…
KEY TAKEAWAYS
Strategies change over time as gain more experience and a wider view of the property journey we wish to take. We should always embrace a changing perspective.
The main problem with selling a property is that at the moment of sale, you crystallise the profit, and will never make another penny from it.
If managing a rental property is not your calling, you can always hire someone to do it for you.
Demand for rental properties can change as the area changes. There could also be a huge amount of equity. In these circumstances, you may feel the benefit of selling.
BEST MOMENTS
‘Your opinions and knowledge change over time’
‘Holding the property and renting it out means you make cashflow on a monthly basis’
‘Often it’s short term thinking, and the long term capital appreciation isn’t considered’
‘As values go up over time, we can remortgage!’
VALUABLE RESOURCES
Property Magic: How to Buy Property Using Other People's Time, Money and Experience by Simon Zutshi
To find your local pin meeting visit: www.PinMeeting.co.uk and use voucher code PODCAST to attend you first meeting as Simon's guest (instead of paying the normal £20).
iphone: http://bit.ly/pinAPP1
Android https://bit.ly/pinAPP2
Register at Mindset For Property at - www.mindsetforproperty.co.uk
ABOUT THE HOST
Simon Zutshi, experienced investor, successful entrepreneur and best-selling author, is widely recognised as one of the top wealth creation strategists in the UK. Having started to invest in property in 1995 and went on to become financially independent by the age of 32.
Passionate about sharing his experience, Simon founded the property investor’s network (pin) in 2003 www.pinmeeting.co.uk. pin has since grown to become the largest property networking organisation in the UK, with monthly meetings in 50 cities, designed specifically to provide a supportive, educational and inspirational environment for people like you to network with and learn from other successful investors.
Since 2003, Simon has taught thousands of entrepreneurs and business owners how to successfully invest in a tax-efficient way. How to create additional streams of income, give them more time to do the things they want to do and build their long-term wealth.
Simon’s book “Property Magic” which is now in its sixth edition, became an instant hit when first released in 2008 and remains an Amazon No 1 best-selling property book.
Simon launched his latest business, www.CrowdProperty.com, in 2014, which is an FCA Regulated peer to peer lending platform to facilitate loans between private individuals and property professionals.
CONTACT METHOD
Contact and follow Simon here:
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