Interest Rate Crisis - Update August 2023
Simon discusses the recent interest rate rises and their impact on the property market. With interest rates increasing for the 14th consecutive time, Simon explores the potential implications for property prices, which are already falling at the fastest rate since 2009. KEY TAKEAWAYS Interest rates have been rising consecutively to combat inflation, with the latest increase being a quarter of a percent, bringing the Bank of England base rate to 5.25%. Property prices are falling at the fastest rate since 2009, leading to an increase in supply and a decrease in demand. This presents a buying opportunity for investors. Financing is becoming more difficult in the current market, making creative finance strategies such as purchase lease options and vendor finance more valuable for acquiring properties without relying on mortgages. It is important to stay educated and upskill oneself in the current market conditions. This includes understanding and utilising strategies like purchase lease options to take advantage of the opportunities available. This market presents opportunities for those who think outside the box and adapt their strategies. It is crucial to stay informed, attend local property investor network meetings, and surround oneself with successful investors who have experience navigating challenging market conditions BEST MOMENTS "Rather than sit back and do nothing and miss what is probably one of the best buying opportunities this decade, you need to re-skill, make sure you've got the appropriate strategies that are going to work for you in the current market." "In times like this, you need to think outside of the box. This is when fortunes are going to be made by a small number of people." "It all comes down to your mindset and your attitude. How do you look at things? How do you interpret things? What meaning do you give to things?" "Yes, for many people, this is going to be a very difficult time, but for some of us who have the right attitude and take action, this is going to be an incredibly exciting time." "Until next time, invest with knowledge, invest with skill." VALUABLE RESOURCES To attend your first pin meeting as Simon's guest visit http://www.pinmeeting.co.uk/, find your local meeting, and at the bottom of the page where you normally pay £20, click on where is says "pay with a voucher code" and use this code: PODCAST. This will by pass the payment page and you can attend your first pin meeting for free. Property Magic: How to Buy Property Using Other People's Time, Money and Experience by Simon Zutshi Find out about the Global PIN Meetings at www.globalpinmeeting.com To find your local pin meeting visit: www.PinMeeting.co.uk and use voucher code PODCAST to attend you first meeting as Simon's guest (instead of paying the normal £20). iphone: http://bit.ly/pinAPP1 Android https://bit.ly/pinAPP2 Register at Mindset For Property at - www.mindsetforproperty.co.uk Contact and follow Simon here: Facebook: http://www.facebook.com/OfficialSimonZutshi LinkedIn: https://www.linkedin.com/in/simonzutshi/ YouTube: https://www.youtube.com/SimonZutshiOfficial Twitter: https://twitter.com/simonzutshi Instagram: https://www.instagram.com/simonzutshi/ Simon Zutshi, experienced investor, successful entrepreneur and best-selling author, is widely recognised as one of the top wealth creation strategists in the UK. Having started to invest in property in 1995 and went on to become financially independent by the age of 32. Passionate about sharing his experience, Simon founded the property investor’s network (pin) in 2003 www.pinmeeting.co.uk. pin has since grown to become the largest property networking organisation in the UK, with monthly meetings in 50 cities, designed specifically to provide a supportive, educational and inspirational environment for people like you to network with and learn from other successful investors. Since 2003, Simon has taught thousands of entrepreneurs and business owners how to successfully invest in a tax-efficient way. How to create additional streams of income, give them more time to do the things they want to do and build their long-term wealth. Simon’s book “Property Magic” which is now in its sixth edition, became an instant hit when first released in 2008 and remains an Amazon No 1 best-selling property book. Simon launched his latest business, www.CrowdProperty.com, in 2014, which is an FCA Regulated peer to peer lending platform to facilitate loans between private individuals and property professionals.