In this property education video Simon Zutshi, discusses why many people are saying Don’t buy, Buy to Let property in 2023!
Whilst there are some elements of this statement about Buy to Let Property which Simon agrees with, we need to be very careful of sweeping statements like this about property investing.
So why are so many property investors and property experts saying this? Is it because:
· Many people think there will be a property market crash in 2023
· More and more landlords are selling up in 2023
· Recent Bank of England interest rate hikes
These could all be valid reasons, but Simon explains that he believes it boils down to the difficulty in getting mortgages right now, the time required to obtain mortgages, and the negative impact high interest rates have on cash flow, which means that most single let properties don’t make money at the moment.
However, not all Buy to Let property is the same. There are some strategies that do provide plenty of monthly cash flow, as he explains in the video.
Finally you don’t actually need to buy, when there are other afterlives such as Purchase Lease Options and Lease Option Agreements, which Simon also discussed in this Buy to Let Property video.
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