| So often when an investor tells me that they are struggling to raise finance, it turns out they are using the wrong broker. Either the wrong type of broker – like they are trying to raise HMO finance through a buy to let specialist. Or just the WRONG broker. In other words, a broker who just isn’t up to the task (either because they don’t understand, they just don’t care, or they have very little experience of investing and aren’t ware of the nuances and pitfalls). Not all brokers are the same. Not all brokers are ‘Whole of Market’ – many brokers are tied to specific lenders or packages of lenders, and so can’t look at everything that is available to get the right product for you. Some brokers understand the concepts around refinancing and getting money back out of deals, and others don’t (often because they don’t invest for themselves). Some just like filling in forms for vanilla, bog standard products and applications – they just want an easy life with easy fees. But others will go the extra mile and work hard to get you the finance you need. Some understand bridging, others don’t. So one of the best things you can do as a property investor is to find a good, or even great broker, and keep hold of them. (by the way, if you’d like me to introduce you to my broker please email me thepropertyteacher@gmail.com) |
Here’s to successful property investing.
Peter Jones
Peter Jones B.Sc FRICS
Chartered Surveyor, author and property investor
PS. By the way, I’ve rewritten and updated my best-selling e-book, The Successful Property Investor’s Strategy Workshop, which is an account of how I put together my multi-property portfolio, starting from scratch and with no money of my own, and how you can do the same.
For more details please go to:
www.thepropertyteacher.co.uk/the-successful-property-investors-strategy-workshop