David shares his perspective on repayment and interest-only mortgages and explains what his current strategy is.
With an interest-only mortgage over time inflation can come to your rescue and with the pandemic causing a massive shock to the economic system, some expert opinions say that it will be inflation that will ultimately eat away at the debt.
The value of property goes up over time, rents go up over time but in effect, the value of the mortgage is less over time meaning inflation could be the magic element for your property portfolio moving forward.
KEY TAKEAWAYS
BEST MOMENTS
I’m leaning towards inflation going up, I can’t see how it can do anything else
Asset inflation makes heroes of us all
I’ve seen significant inflation before
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/