How can we come out of this stronger?
While it might seem wrong to talk of opportunities there is also a need that productivity is needed to stimulate the economy.
Take stock of your circumstances
Landlords with empty rental properties to consider dropping rental prices slightly. “Any income right now will be better than a complete void period. And if you have tenants who are struggling with the rent, weigh up the pros and cons of taking the buy-to-let mortgage breaks on offer. This will provide some relief and hopefully help those struggling to cope during this pandemic. Regardless of whether you’re an investor intending to move quickly on new deals or you’re sitting tight, now isn’t the time to do nothing.“The property market is changing daily, so you should be using this time to double down on your knowledge. Research, research and research some more. Educate yourself via podcast, books, a - line your self with the people who have experience and a proving track record. So you can make informed decisions based on economic facts rather than media hype.
Do the research
Now isn’t the time to take advantage of every property deal that comes your way.
We can’t continue snapping up properties in the same way as before because we’re heading into the unknown. However, research will help investors make the right decisions as long as the deals align with their goals. If your goal is capital growth only strategies. You may well want to concentrate on is cash flow investing in rental income so if the market drops a little you can still add to your Property Portfolio. The Rental market has never been stronger for good quality accommodation. Importantly don't rush, do the numbers, tick the boxes and you could come out the other end of COVID with a few solid investments. Banks have now reassessed their lending risk with some offering up to 85% LTV. So investors can move forward and start to negotiate deals.
It may become a buyers market is it’s tough to negotiate a deal when confidence is high as offers are less likely to be accepted when confidence is low, it’s likely that reasonable offers will at least be considered.
Serious property investors who have set clear goals and done the research can come out of this pandemic with a positive mindset to get deals done.