We need a revolution in business, property and finance to cope!
My name is Vicki Wusche and I love buying houses. When I am not investing in property I writing books about investing in property. I started investing for myself and my family in 2008. Within just five years I had been recognised by The Telegraph as one of The UK's Top 25 Most Influential People in Property. I regularly speak at property and business events, helping the audience to see how they can make more money more easily.
In 2016-2017 over a six months period, I bought 14 properties for clients spending £849,000 of their £2.2m pot and generated an average of 10% net return. In the last 7 years, I have bought 63 properties and raised over £5 million in Joint Venture money.
I believe successive governments have lost a grip on the housing market. In an earlier article I discussed how the historic family “tradition” of buy a house, clear the mortgage, die and leave it to your children simply won’t work in a world where we are all living longer.
When I conform to actuarial predictions and live into my 90’s-110th year my granddaughter Amelia could feasibly be a grandmother herself. When I work out my legacy I can’t just think about my children or grandchildren – I will need to help them long before I leave them my home!
Similarly, the government has been running behind the times since the popularity of property speculation hit the mainstream after 2000.
In recent years the change in currency values and the fall in the pound against other currency has made the UK and particularly London vulnerable to foreign investors. London was already struggling under a pricing boom resulting in ordinary people being left behind in their hopes of owning property within the M25.
Could it really be just the potential of stamp duty that made the government ignore the inpouring of foreign property speculators? Or was it that they were not even thinking about the impact this would have. The new Prime Minister of New Zealand immediately seize the thorn and has banned foreign property investors. Why are we waiting?
Apart from the speculation in the London property market, property investors, in general, are considered by many to lie somewhere between Rigsby from the 1970’s sitcom Rising Damp and money-grabbing parasites. Apparently overcharging rent and service charges, ignoring maintenance requests and malicious evicting any tenant that tries to stand up for their rights!
My experience of the market over the last ten years is that I have visited properties that were rented out to tenants in appalling conditions – mainly because the landlords were not professional – or decent. They were not treating the investment like a property and were not Smart!
Tenants are often complicit by not reporting repairs but that is where the $ Systems of my six-part strategic Property Smart$ comes into play.
We cannot leave the success of our businesses to tenants. We cannot let our businesses be damaged by government ignorance, legislation or whims.
Why? Because I firmly believe that it is the smaller landlord in the Private Rental Sector that has the power and will to change housing strategy for the benefit of all. Collectively we can take unfit, unloved and empty homes and turn them back into decent homes for decent people.
The government needs to focus on the bigger picture. It needs to manage property speculation in London because if that market fails we will see it ripple back out across the country again and that affects residential buyer more than it does the investor who can hold the property as they don’t live in the house.
We need to focus on building solid and professional property businesses. We need to focus on buying property and creating decent homes for decent tenants and first-time buyers.
First-time buyers will never buy the property we invest in because they cannot afford to and simply don’t want to.
It is a rare young person or couple that want to move into a 1970 or 1980’s decorated house and then gut it while they try and go to work each morning. The only people that do are those watching Homes Under The Hammer and Property Ladder.
Most first-time buyers have saved for years in order to afford their deposit they do not have spare cash to spend on costly major renovations. They want a new buy or turn key property, that is where we can help. As professional and Property Smart$ investors we can take unsuitable property and make it desirable.
Join the revolution – become a professional property investor, get Property Smart$ and together we can solve the housing crisis creating decent homes for decent people.
I am speaking at the Business Show Excel on Wednesday 16th May in Theatre 6 and Thursday 17th May in SME Marketing Theatre at 13.15 Please come and hear what I have to say – it makes sense. Come and visit us at stand 242.