By Ajay Ahuja
Chartered accountant and estate guru Ajay Ahuja has devised a version that each one specialist traders should still stick to. it truly is this version, the valuables clock, that has taken him from an preliminary funding of GBP 500 to a portfolio of a hundred homes worthy over GBP 6m in lower than five years.Ajay's clock is right here to stick as a result of: the capability for each quarter to function based on its personal basics; the advent of the buy-to-let loan within the overdue 90s; the propensity of estate costs to be unstable; the strong nature of industry rents; and the emergence of bandwagon-type traders. it's a lengthy awaited re-creation, revised and up to date. It presents professional info from the best-selling writer of "The purchase to permit Bible", "How to Make a Fortune at the Internet".
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Extra resources for Beating the Property Clock: How to Understand & Exploit the Property Cycle for Maximum Gain
YIELD . 3 3 Tom, Dick and Harry are all higher rate tax payers but they have very different risk profiles. They see a property advertised for £100,000 but all have very different strategies to buy the property. They estimate that it can rent out for £1,000 per calendar month. They also estimate the following annual expenses to derive a profit and loss account. Tom Dick Harry Rent £12,000 £12,000 £12,000 Unsecured borrowing costs (interest only) £1,750 N/A N/A Mortgage costs (interest only) £4,500 £4,500 N/A Void periods £1,500 £1,500 £1,500 Service charges £1,000 and ground rent £1,000 £1,000 Repairs £500 £500 £1,050 £1,050 Agents’ fees £500 £1,050 Sundry £450 £450 £450 Profit £1,250 £3,000 £7,500 Tax @ 40% £500 £1,200 £3,000 Net profit £750 £1,800 £4,500 3 4 .
Think of a rollercoaster. You know that bit where you hiked up by the machinery to the top of the slope, you can hear the clunking, you get to the top, the clunking stops, you think the cart will rest at the top but it just tips over the edge… At the top of the slope only the following can and will happen and at a greater pace than the climb: ■ Interest rate rises are increased to hurt! They are set to control inflation as we have been spending too much on the high street. ■ With the increased interest rate the projected positive cashflows fall.
Monies lent by the bank based on the growth look risky now as the interest rate increases have killed both the growth and the net yield. The banks get scared and restrict lending. This means that fewer people are able to buy. Due to fewer people being able to buy land and property because of the restriction by the banks – land and property prices have to fall. People that have bought at the peak are now facing negative equity. Their debt is greater than the value of their home. The credit boom cools.
Beating the Property Clock: How to Understand & Exploit the Property Cycle for Maximum Gain by Ajay Ahuja