THE PROPERTY TYCOONS NEWSLETTER

I met with several hundred property investors this month at property investment events in Central London, Berkshire and Birmingham to get a handle on what is happening out there in the world of property.

At the Berkshire property meeting my business partner Hanif Khan and I gave a speech on finding and buying repossessed properties to over 250 property investors. In Central London we held an advanced mentoring session for members of my Tycoon Mastermind Alliance coaching program and in Birmingham we held a special trip to the County Court there to learn how to source repossessed properties.

I noted much optimism out there from new and established property investors which is of course great to see. Many new investors have been tempted into the market by the rising yields and keen prices. Most people agree that property has another 10%-15% to fall yet so the key is to buy well below market value in excellent locations that have a good chance of appreciating when the upturn comes.

Having helped to pioneer the concept of ‘below market value’ property purchasing in the UK, it is gratifying to see so many people from all walks of life beginning to utilise the concepts that I have been teaching since 2003 – i.e. buy cheap below market value properties from distressed sellers and NEVER EVER pay full price!

I have also noticed a lot of very prudent investors coming out of the woodwork to buy property in this climate. For example, I met one chap last week with a portfolio worth £5m+ and mortgages of only £250,000. My ready made deals team at www.readymadedeals.co.uk are working on supplying an offshore syndicate who have over £15m in cash to invest in Central London properties. I met another chap today with over £700,000 in cash to invest. The list goes on and on…

These investors are entering the market at a good time and are hoping to reap the rewards in the long term. I have no doubt they will be successful if they purchase below market value properties from distressed sellers in this market.

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RICS: House prices may steady this year

Signs that the property slump may be bottoming out and that prices will steady this year were reported today by the Royal Institution of Chartered Surveyors....

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House price falls slow as buyers return

House prices fell at the slowest rate for more than a year in April, as potential buyers returned, but figures also show mortgages slipping again....

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Asking prices rise for third month in row

Property asking prices increased for the third month in a row during April, jumping by 1.8%, figures showed today....

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Economists: End of property slump in sight

House prices may have less than 10% further to drop before the property market hits the bottom, economists predicted today....

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UK gets EU warning on public borrowing

Alistair Darling faced embarrassment as the EU issued an official warning to Britain over the state of its public finances.

It said it expected the UK to take longer than other countries - including Ireland, Spain and France - to get its deficit back under control....

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Britain's economic downturn is showing signs of easing, according to leading experts...

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This week's meeting of the Bank of England's monetary policy committee will certainly not be as momentous as the last. On that occasion all nine members voted unanimously in favour of creating £75bn in new money and to cut interest rates by half a percentage point to 0.5%.

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The repossession winners and losers

Repossessions are increasing rapidly, but while owners suffer not everyone is a loser - and some investors are making a profit.

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Recession is a good time to grow business

Though economic forecasts for the year ahead are gloomy, growing numbers of small businesses are taking advantage of opportunities created by the recession to boost their business.

Many small business owners have a 'determined' attitude to the economic downturn, according to research by insurer Direct Line for Business, with more than a quarter confident that their business will grow in 2009....

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