Why Your Buy-to-Let Business is FAILING | Property Investors Podcast #44
On today's episode #44 of the Property Investors Podcast, Alasdair Cunningham and Russell Leeds try something a little different. The property investing twosome are regularly asked about what books they would recommend. They have decided to do a book of the month that they recommend and discuss on the podcast. This months book of the month is brought to the table by Russell who has not only read the book but is also currently carrying out the books ‘miracle morning’ routine. The book is written by Hal Elrod and is titled Miracle Mornings. The discussion flows to the key aspects of the personal development book which suggest an hours morning routine that played a huge part in turning around the life of its author following a serious accident and struggle with depression. Hal Elrod suggests a routine that consists of 10 minutes of each of the following ‘savers’,
The author then goes on to challenge his readers to commit to a thirty day challenge. Russell and Alasdair encourage their audience to read this book, and give the thirty day challenge ago so they are then able to give feedback.
In the news this week. “Half of current property investors would not touch buy to let and would leave the market if they could.” The article states that the reasons cited are as follows:-
- Government interventions.
- Regulation changes.
- Economic uncertainty.
- Lack of returns.
Of the 738 investors asked only forty percent would still invest, with the other sixty percent stating they would not touch buy to let agreements with a barge pole. Russell and Alasdair counter argue this attitude with the principles that are taught in the ‘The business of property Investing’ programme that can be found of the Property Investors Crash Course. The duo state that an amature mindset would have this attitude, but those who are educated and have the knowledge of the following will not be concerned.
- Investment strategies
- Knowledge of tax
- The ability to buy correctly
- The ability to obtain super rents
- The Knowledge of how to buy low and rent high.
In summary, education is key and professional landlords should not shy away or be worried about buy to let properties.