TPP328: The investments you must avoid in the coming property boom
This week on The Property Podcast, The Robs are discussing the investments you should be avoiding in the upcoming property boom.
No, they’re not psychic. Nor do they have a crystal ball. But the property boom will come, and when it does, it’s important to know the potential risks and how to avoid them.
If you’ve been listening to the podcast for a while, you’ll know that Rob & Rob believe we’re currently in the mid-cycle wobble, and after the wobble comes the boom.
Quite often in a boom, people start to get excited and you could be sold something that could lose you a vast amount of money.
The perk of the property cycle is that you know what’s coming next. So you can look at the last property boom and see what type of investments people were making that went horribly wrong... and avoid them.
So what are the investments you should be avoiding in the next boom?
- Overseas property
- No money down (NMD)/highly leveraged
- Investments that cost you to own it
- (Always) student pods and hotel rooms
- Parcels of land
There are a lot of issues and warnings in this episode but it’s not just us scaremongering, you genuinely need to be aware of these issues and take them seriously.
If you’ve had a bad past experience with one of these investment types or you were affected by the last property boom, then we want to hear from you. Get in touch over on Facebook, Instagram or even the forum.
And in the news this week, The Robs have found another headline that isn’t actually news - it’s more misleading.
It comes from the BBC and the headline is ‘flats out of fashion with first time buyers’. According to the article, first time buyers are going straight for houses which is causing a fall in the cost of apartments.
So that’s it. Investors should stop what they’re doing and we need to go back and revise the podcast we did on city living.
Wrong.
Yet again, the media is blowing a simple comment made about the London market completely out of proportion. One comment about one city and naturally that means it’s the same story for the rest of the country.
Our Hub Extra this week is for MacBook and iPhone users, sorry Android. It’s an app called Soulver, and it’s essentially the same as the notepad app but it’s designed to work with numbers in a more natural way.
It’s incredibly useful if you’re trying to take notes and make calculations at the same time. Give it a try and let us know what you think.
Meetups are next week! Some events are sold out but we do have some tickets left for others. Although they’re selling fast. If you’d like to attend, you can find your nearest meetup venue here on our website.
If you haven’t yet checked out our YouTube channel then what are you waiting for? One of our most popular videos is our UK hotspots one and people have been questioning our choices. So go give it a watch and let us know your thoughts. Don’t forget to subscribe!
We’d love to hear what you think of this week’s Property Podcast over on Facebook, Twitter or Instagram. You might even have a topic you’d like us to cover in the future - if so, pop us a message on social and we’ll see what we can do.
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