Now that the people have spoken on Europe and the financial market sharks have made their killings on currency speculation, it’s time to get to the task in hand of building individual wealth and paying as little tax as the law allows.
The doom and gloom merchants will no doubt say that demand will fall, capital values will plummet, yields will collapse, and the days of being a landlord are numbered.
That may well be true with those investment property owners who have very high loan to values and where their portfolios are operating a trading loss, but then anyone in that position would eventually suffer the same fate regardless of whether we stayed in the EU or not.
Economic forecasters have been overwhelmingly wrong on just about every other matter; from failing to predict the consequences of the ERM during the Thatcher era, to all the way through to the last recession where New Labour left the Treasury cupboard bare; so what makes us think that they are right this time?
My advice to you is simple – buy wisely, don’t over borrow (70% is enough), prepare your properties to a good if not high standard, thoroughly reference your tenants, charge the highest rent you can, look after the properties and tenants well, and talk to us about how to make the system work to your advantage.
One last thing, apart from Iceland and the Galapagos Islands where volcanism keeps up its relentless work, they’ve stopped making land but not people, and thus demand for housing (being in the EU or not) continues to exceed supply…
Landlords rule OK!