7 Steps To Stacking A Property Deal
This week, Simon shares the seven steps that will help you swiftly stack a property deal, including property valuing, why interest-only mortgages are better, and the formulas you need to see if the numbers work for you. KEY TAKEAWAYS Far too many people spend far too long agonising over whether a deal stacks or not. If they stick to the simple formula, they'll be able to turn deals around very quickly indeed. Based on a purchase price, we need to look at how much of a mortgage advance we can get from a lender, typically around 75%, and specifically look for interest-only offers. Cashflow is the profit less all the expenses. We can approximate the costs by working out the minimum rent required. Make sure you research effectively and determine the correct market rent for your type of property in your area. This is crucial in determining the cashflow. BEST MOMENTS 'This is top level due diligence' 'For every £20k you borrow at 6% interest per annum, it'll cost you £100 in interest every month' 'This is a really good approximation of those other costs' 'We need to understand how much money we need to put in to achieve that cashflow' VALUABLE RESOURCES Join Simon on some online training to learn how to find great property deals in your area here: www.DealFindertraining.co.uk 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: Facebook: http://www.facebook.com/OfficialSimonZutshi LinkedIn: https://www.linkedin.com/in/simonzutshi/ YouTube: https://www.youtube.com/SimonZutshiOfficial Twitter: https://twitter.com/simonzutshi Instagram: https://www.instagram.com/simonzutshi/