Mark and Kevin dissect the recent UK general election results, exploring potential impacts on property investment, economic policies, and the future political landscape. Mark also shares his thoughts on navigating the changing market, seizing opportunities amidst current challenges, and adapting investment strategies.

KEY TAKEAWAYS

• Labour's victory was significant but not as large as initially predicted, with the Conservatives performing better than expected despite their worst result since the 1830s.
• Interest rates are expected to start declining in the second half of 2024, with a gradual decrease over the next 3+ years, potentially settling between 2-3%.
• The property market is likely to see an uptick once interest rates decrease, as incomes have risen and house prices have rebalanced, creating opportunities for investors.
• Buying properties through limited companies offers tax advantages, allowing full mortgage interest to offset against rent for tax purposes.
• Nigel Farage's presence in Parliament could bring attention to landlord issues and hold the Labour government accountable in an entertaining manner.
• Labour's large majority may lead to internal conflicts between centrist and left-wing factions, potentially complicating legislative efforts.
• Successful property investment requires focusing on a specific area, building local contacts, and adapting to market changes rather than using a scattered approach across multiple locations.

BEST MOMENTS  

"Do not wish for no problems, wish for the ability to handle bigger ones. And there will be some great stuff that comes out of the new election."

"I think there will be huge opportunity. If there's a big shift, there will be huge opportunities."

"You've got to take action, and get in an environment where you can learn. You need to be devouring books, courses, videos. Being around other property investors who have found a way to make money out of a new world, a new environment."

"I always say to people, do not wish for no problems, wish for the ability to handle bigger ones."

"We're making more money than we ever have out of our properties, at any point over the last 20 years, because we've changed and taken advantage of all these things and utilize them."

VALUABLE RESOURCES 

https://www.youtube.com/user/progressiveproperty https://www.progressiveproperty.co.uk/the-progressive-co-founders/

ABOUT THE HOST

Mark has bought, sold or has managed around 1,000 property units for himself, Rob, his family and his investors since 2003. He is a system and spreadsheet geek and has developed a complex, confidential deal analyser system of buying residential, commercial and multi-let properties.

CONTACT METHOD

Email: Markhomer@progressiveproperty.co.uk

LinkedIn: https://www.linkedin.com/in/markhomer1

Facebook: https://www.facebook.com/markprogressive

Twitter: https://twitter.com/markprogressive