We hope you’re having an amazing week! It’s Wednesday again, which means it’s time for the 13th blog of 2022!
We have been busy yet again this week! We viewed a plot of land in the Manchester area for 41 apartments. It was good to see the potential of the project and we also got a cup of coffee as a bonus!
We have also been viewing BTL properties in the Preston area. I honestly believe Preston is one of the best areas in the North West for vanilla BTL’s and if you are thinking of investing there, I would highly recommend that you do. An estate agent was telling me that for every house they have available for let, a minimum of 20 people are enquiring and booking viewings on it. That is unbelievable!
We are also attending the monthly Property Deal Networking event in Manchester tonight. Check out the details and book your FREE ticket here: Property Deal Network Manchester – Property Investor Meet up Tickets, Wed 30 Mar 2022 at 19:00 | Eventbrite
We mentioned last week about showing Gleb and Liam around our Wigan project. The video for that is now live and you can view it below. Please subscribe to our YouTube channel – there is a lot of content coming your way on there! https://youtu.be/AKdh4Nn3oPs
Our Biggest Learning Experiences This Week:
The biggest learning experiences we’ve had this week is the ability to compromise. We originally set a budget of £40k for our Wigan refurbishment, however after speaking with several builders, we have had to up that to £50k. This gives us more room for manoeuvre and also makes sure that the refurb is done to a higher spec. Having the ability to compromise on that budget is opening up our minds for things that we can and can’t do on the project.
Private rents rise at fastest annual rate in more than five years
Rents paid by private tenants have risen at their largest annual rate for more than five years after spiking in the past 12 months.
New data from the Office for National Statistics (ONS) shows private rental prices in the UK increased by 2.3% in the year to February, the largest annual growth rate since December 2016.
More info at:
Mo’s Top Tip:
A “hidden crisis” is hitting the property market
According to the Telegraph, the cost of living crunch is already “destroying” demand for cheaper properties. Personally, I completely disagree with this. Everywhere we’re going at the minute, there isn’t a property that doesn’t go for above asking price. There’s also not a single property that doesn’t have a massive amount of bookings for viewings. I honestly believe that this demand isn’t going away anytime soon, and in all of our patches across the North West, the demand is still very much alive.
If you’re interested in sending regular deals to us to send out on our Deal Alerts, please message “co-deal sourcing” to 07737525850. We look forward to working with you.
Here at Action Invest, we offer a bespoke sourcing package to all of our investors. If you prefer us to go out and find a deal that suits your requirements and needs, we are more than happy to do so. Please contact Mo on 07737525850 at your earliest convenience to discuss your next investment!
We have had a few enquiries regarding our mentoring program and we are delighted to announce that we are still taking on new mentees! Mo is eager to speak to you to help you reach your desired goals – contact him on 07737525850!
Check Your Junk Box
We’ve been getting told people aren’t seeing our deals emails every week because it’s going into their junk box. Make sure to check your junk box to see if our emails are going in there. If they are, add us to your ‘Safe Contacts’ list so you won’t miss out any more.
Thanks for reading! We’ll see you soon!