What is going on NOW in my DP Business? You need to know!

David has been getting in contact with other deal packagers and is sharing what the perspective is right now at a time when change is a daily part of all our lives. Many may have thought the property market would be at a standstill, paused completely as we all stay at home, but this is very far from what is actually happening. David explains what deal packagers, estate agents and investors are doing right now and although the volume is not there, there are investors out there who want to buy. Cash buyers are looking for discounts and it’s all about vendors coming to terms with how it is now and alongside this, some providers have reinstated their buy to let products, listen in and find out exactly how it’s all working and what you as a deal packager should be doing right now.   KEY TAKEAWAYS There are cash buyers out there and there are providers who have reinstated their buy to let products. You can get a 75% loan to value but where is the value? Either the vendor needs to reduce the price or the investor needs to put down a bigger deposit. When the market returns it is likely that vendors will have a higher expectation of what their property is worth than an investor will want to pay. Until vendors are prepared to accept the market is different and lower than it was before COVID19 then the market will remain slower. The market will be driven by the low valuations of the banks. At some point, people will have to move and investors are going to be able to pick up properties at good prices. Estate agents are now reaching out to deal packagers because they need to sell houses and they know deal packagers have investors who are ready to purchase.   BEST MOMENTS ‘Investors are ready with the money but they are being very private because they don’t want to be perceived as benefiting from the current situation’ ‘The appetite of investors has simplified there is a focus on buy to let and single lets’ ‘We are keeping close to our investors’   VALUABLE RESOURCES  Property Sourcing Profits Podcast https://www.progressiveproperty.co.uk/ https://unlimited-success.co.uk/ https://www.facebook.com/groups/progressivepropertycommunity/   ABOUT THE HOST David is a property expert with over 25 years’ experience and his own portfolio of 26 units. His current rent roll is in excess of £10k per month. He is also a partner in a Deal Sourcing and Packaging business in the North West of England and has sourced over 250 properties for investors since 2004. In recent years he has, by necessity, had to develop an expertise in LHA strategies. This area is increasingly becoming a niche for him, and he enjoys empowering other landlords by sharing the knowledge he has gained. The ultimate purpose when sourcing properties in this sector for investors is to minimise risk while maximising profit. He has had to find answers to the challenges of Tenant Find, Management, ensuring rents are paid and the transition to Universal Credit. These are strategies he uses in his own business and also on behalf of investors. His investor clients regularly achieve annual gross yields of over 20% with high occupancy rates and voids resolved, sometimes within hours.   CONTACT METHOD https://www.linkedin.com/in/david-siegler-7b126316/ https://www.facebook.com/DavidSieglerInvestments/