In this episode Harvey talks about which bank accounts work best for your property business.

Welcome to Harveys’ April Property Market Update. Despite all the odds being stacked against property developers, the market is still seeing plenty of growth. Harvey gives you a roundup of all the indicators so you can make more informed decisions.

Recession could be coming and the property markets may be about to correct. Harvey denotes six signs of a coming recession and gives you all the information so you can make a decision regarding your own property investments. KEY TAKEAWAYS Goldman Sachs warn that we have a 20-30% chance of another recession based on some of the following markers ;. Inflation rose above 5% and is due to rise more.   Interest rates are rising to curb inflation so borrowing will be more expensive. Oil prices are driving up the cost of living. The Yield Curve has inverted. This has always indicated a recession.  The Uk Wage has fallen compared to inflation.  Consumer sentiment is the publics confidence in the economy. People don’t spend if they suspect the economy is going to stall.   If you have buy to lets that will not produce a shortfall on your tenants job loss due to housing benefits you will be cushioned from the effect of the recession by this.  Explanations and visualisations are linked below under EPISODE RESOURCES BEST MOMENTS ‘Recession is when the Gross Domestic Product drops two consecutive quarters on the trot.’ ‘Whenever crude oil has hit over $100 a barrel, a recession has followed.’  ‘Consumer sentiment is absolutely ginormous, not just on the rates but on the fact there is a war. People are uncertain. People start saving. All these thoughts go through peoples heads and it makes them do nothing, they kinda freeze.’ ‘One thing to remember though is that when we do go into a recession, or when we are uncertain about a potential recession, risk assets fall the hardest. This is not just in property, this is in every asset class.’ ‘If you’ve got buy to lets that are in areas that are covered by housing benefits. In my area housing benefits are £500 a month, a lot of my properties are around £550 a month so I’ve not got too much of a shortfall if somebody loses their job.’ ‘When you look at my portfolio as a whole I have this residual income that rides me out any ups and downs.’ EPISODE RESOURCES To watch the video of this episode ; https://www.youtube.com/watch? v=RcNRSnvJ8rY Here are links to more information and visualisations of the concepts, figures and fluctuations that Harvey has discussed ; Recession definition –  https://www.businessinsider.com/what- is-a-recession Goldman Sachs forecasts - https://www.bloomberg.com/news/articles/2022-03- 11/goldman-sachs-cuts-u-s-growth-forecasts-on-hit-from-oil- war BBC inflation rate - https://www.bbc.com/news/business- 12196322 BBC interest rates - https://www.bbc.com/news/business- 60763740 BBC oil - https://www.bbc.co.uk/news/topics/cmjpj223708t/oil Treasury Yield - https://www.guggenheiminvestments.com/perspectives/macroeconomic- research/yield-curve-flattening-warning-rate-hike-cycle Growth of earnings - https://www.statista.com/statistics/1272447/uk-wage-growth- vs-inflation/ US sentiment – https://tradingeconomics.com/united- states/consumer-confidence SERIES RESOURCES                  How to Reduce Landlord Taxes 2019-20 https://www.amazon.co.uk/dp/1999640543/ref=cm_sw_r_cp_api_fabc_79R9ZHHR1A65RYM5YR4J The Richest Man In Babylon: The Success Secrets of the Ancients--The Most Inspiring Book on Wealth Ever Written https://www.amazon.co.uk/dp/0451205367/ref=cm_sw_r_cp_api_fabc_MFM0MP7WF7AWGWYX5051 Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! https://www.amazon.co.uk/dp/1612680178/ref=cm_sw_r_cp_api_fabc_1MY8PQJN7R1NSN167V6P VALUABLE RESOURCES 💻| Join us in our remote property investing Community on Facebook 📚| Live free training & Q&A every Sunday in the Community.    ABOUT THE HOST Harvey is the founder of Growth Properties Group, a small group of companies that help people live on their terms through property. With education, portfolio building, and property management.  He built his property portfolio and businesses in the Northeast of England, whilst living in the south, allowing him to spend time with his family and travel regularly.  Having built up the systems and team to run from his phone and largely on autopilot, he's now focused on helping others excel on their property journeys and build a remote investment lifestyle for themselves through group and 1:1 coaching programs.  His signature program, which runs 4 times per year, is the 6 Stage Remote Buy Refurb Refinance (RBRR) Blueprint. I help people to live on their terms through property & Coaching and portfolio building.  I’ve spent the last 7 years working out how to run my property business virtually from my phone.  Using tech to run my business while I’ve been travelling.  DM me clubhouse if you need help with this.  CONTACT METHOD 👓| Find me on Facebook  👓| Find me on Instagram 👓| Find me on YouTube 
 👓| Find me on TikTokSee omnystudio.com/listener for privacy information.

It is critically important to get the right deals at purchase to properly develop and grow your portfolio efficiently and cost effectively. Harvey has three ways you can increase your likelihood of acquiring that golden deal. KEY TAKEAWAYS Know your numbers. Get to know the comparable prices in the street. Find out what other properties similar or the same as your possible purchase in the area have sold for. Know your numbers again! Understand your refurbishment costs, the current state of the property, how much are materials and workforce, legal matters etc. Know your emotions, control yourself. Be aware of your reactions in high pressure situations such as buying a property. Stick to your maximum bid. BEST MOMENTS ‘Make sure you get a really good comparable property which is like for like.’  ‘You don’t have to be bang on when you’re bidding but you wanna know, whereabouts a properties gonna cost you to refurb. Knowing that is gonna give you confidence on knowing the money you can bid on a property.’  ‘We are emotional beings. We buy emotionally, we sell emotionally, we do everything emotionally and these emotions are triggered below our subconscious thinking.’ EPISODE RESOURCES How to Reduce Landlord Taxes 2019-20 https://www.amazon.co.uk/dp/1999640543/ref=cm_sw_r_cp_api_fabc_79R9ZHHR1A65RYM5YR4J The Richest Man In Babylon: The Success Secrets of the Ancients--The Most Inspiring Book on Wealth Ever Written https://www.amazon.co.uk/dp/0451205367/ref=cm_sw_r_cp_api_fabc_MFM0MP7WF7AWGWYX5051 Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! https://www.amazon.co.uk/dp/1612680178/ref=cm_sw_r_cp_api_fabc_1MY8PQJN7R1NSN167V6P VALUABLE RESOURCES 💻| Join us in our remote property investing Community on Facebook 📚| Live free training & Q&A every Sunday in the Community.    ABOUT THE HOST Harvey is the founder of Growth Properties Group, a small group of companies that help people live on their terms through property. With education, portfolio building, and property management.  He built his property portfolio and businesses in the Northeast of England, whilst living in the south, allowing him to spend time with his family and travel regularly.  Having built up the systems and team to run from his phone and largely on autopilot, he's now focused on helping others excel on their property journeys and build a remote investment lifestyle for themselves through group and 1:1 coaching programs.  His signature program, which runs 4 times per year, is the 6 Stage Remote Buy Refurb Refinance (RBRR) Blueprint. I help people to live on their terms through property & Coaching and portfolio building.  I’ve spent the last 7 years working out how to run my property business virtually from my phone.  Using tech to run my business while I’ve been travelling.  DM me clubhouse if you need help with this.  CONTACT METHOD 👓| Find me on Facebook  👓| Find me on Instagram 👓| Find me on YouTube 
 👓| Find me on TikTokSee omnystudio.com/listener for privacy information.

In this episode Harvey teaches you how to raise private finance without having to actually ask for it!

Should you be buying as the market is going down or as it is going up? At the moment the market is growing but as a result there are less lucrative deals available. Harvey rides the hypothetical wave so you know when to jump in with your money. KEY TAKEAWAYS The North East market has seen very little capital growth over the last decade and this results in more motivated sellers.  Deals are still available, however, if you spend time and effort out there searching. You may find less than you would in better circumstances, but there are always motivated sellers out there.  Make sure you have at least 10-15% of equity as a margin buffer if the market has fluctuations.  Stay fresh on estate agents minds. Keep in touch and do not let communication lapse. They will be the best source of good deals.   BEST MOMENTS ‘One of the main reasons people are motivated is that they need a quick sale. If somebody can sell their property for 5k below the market value and sell it within a few days they’re not going to be motivated to sell it for 20-30k below that value to sell it in a few days, if they can just sell it at 5k below that.’  ‘Do your due diligence. Make sure the numbers stack.’ ‘I’ve got a really great relationship with an agent. I didn’t stay fresh on his mind because I got side tracked doing a few other things and he told me about a deal before it come to market when he valued it. It didn’t come to market for about two months after and I didn’t keep in touch point with him. Then as a result when it come to market it went into a bidding frenzy and I didn’t get close to bidding on it.’  EPISODE RESOURCES How to Reduce Landlord Taxes 2019-20 https://www.amazon.co.uk/dp/1999640543/ref=cm_sw_r_cp_api_fabc_79R9ZHHR1A65RYM5YR4J The Richest Man In Babylon: The Success Secrets of the Ancients--The Most Inspiring Book on Wealth Ever Written https://www.amazon.co.uk/dp/0451205367/ref=cm_sw_r_cp_api_fabc_MFM0MP7WF7AWGWYX5051 Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! https://www.amazon.co.uk/dp/1612680178/ref=cm_sw_r_cp_api_fabc_1MY8PQJN7R1NSN167V6P VALUABLE RESOURCES 💻| Join us in our remote property investing Community on Facebook 📚| Live free training & Q&A every Sunday in the Community.    ABOUT THE HOST Harvey is the founder of Growth Properties Group, a small group of companies that help people live on their terms through property. With education, portfolio building, and property management.  He built his property portfolio and businesses in the Northeast of England, whilst living in the south, allowing him to spend time with his family and travel regularly.  Having built up the systems and team to run from his phone and largely on autopilot, he's now focused on helping others excel on their property journeys and build a remote investment lifestyle for themselves through group and 1:1 coaching programs.  His signature program, which runs 4 times per year, is the 6 Stage Remote Buy Refurb Refinance (RBRR) Blueprint. I help people to live on their terms through property & Coaching and portfolio building.  I’ve spent the last 7 years working out how to run my property business virtually from my phone.  Using tech to run my business while I’ve been travelling.  DM me clubhouse if you need help with this.  CONTACT METHOD 👓| Find me on Facebook  👓| Find me on Instagram 👓| Find me on YouTube 
 👓| Find me on TikTok  See omnystudio.com/listener for privacy information.

How does the threat of war affect the property market? Already we are seeing financial markets heavily affected by the uncertainty political volatility produces, but should this alter the decisions you make regarding your portfolio and projects? This March update should make things clearer.  KEY TAKEAWAYS  The stock market and crypto market has already begun to lose momentum due to nervousness created by the invasion. The links to oil and gas supplies are substantial so the affect could be even more inflation and interest rate rises like we have already seen. Interest rate rises directly affect your monthly cash flow because the higher the interest rate the more you have to pay on your mortgage and the less profit you are going to make. However, there are types of property that are shock resistant that are high yield low borrowing. If your properties can be covered or nearly covered by housing benefit you can be assured you will still receive rent even if the job market collapses.   BEST MOMENTS ‘I’m not sure I’m allowed to mention these words as a lot of people are getting taken down on social media but you will know that there’s a major leading superpower that has invaded another country next to it.’ ‘Energy and oil and transportation has a massive affect on inflation because if the oil starts going up too much and if gas prices and energy prices. So you need energy in the factories and the warehouses to produce the goods. If all these prices go up these will get factored in and passed on.’  ‘If interest rates double from 150 to 300 pound a month,  even at 500 pound a month you’ve still got some margin and coverage in there. You want a strong foundation of these in your portfolio, and then above that you have the more higher cash flow and the more riskier stuff.’   EPISODE RESOURCES How to Reduce Landlord Taxes 2019-20 https://www.amazon.co.uk/dp/1999640543/ref=cm_sw_r_cp_api_fabc_79R9ZHHR1A65RYM5YR4J The Richest Man In Babylon: The Success Secrets of the Ancients--The Most Inspiring Book on Wealth Ever Written https://www.amazon.co.uk/dp/0451205367/ref=cm_sw_r_cp_api_fabc_MFM0MP7WF7AWGWYX5051 Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! https://www.amazon.co.uk/dp/1612680178/ref=cm_sw_r_cp_api_fabc_1MY8PQJN7R1NSN167V6P VALUABLE RESOURCES 💻| Join us in our remote property investing Community on Facebook 📚| Live free training & Q&A every Sunday in the Community.    ABOUT THE HOST Harvey is the founder of Growth Properties Group, a small group of companies that help people live on their terms through property. With education, portfolio building, and property management.  He built his property portfolio and businesses in the Northeast of England, whilst living in the south, allowing him to spend time with his family and travel regularly.  Having built up the systems and team to run from his phone and largely on autopilot, he's now focused on helping others excel on their property journeys and build a remote investment lifestyle for themselves through group and 1:1 coaching programs.  His signature program, which runs 4 times per year, is the 6 Stage Remote Buy Refurb Refinance (RBRR) Blueprint. I help people to live on their terms through property & Coaching and portfolio building.  I’ve spent the last 7 years working out how to run my property business virtually from my phone.  Using tech to run my business while I’ve been travelling.  DM me clubhouse if you need help with this.  CONTACT METHOD 👓| Find me on Facebook  👓| Find me on Instagram 👓| Find me on YouTube 
 👓| Find me on TikTok  See omnystudio.com/listener for privacy information.

You have 15k and you want to start in property? The challenge you have if you live in a high price area is 15k is not going to purchase you much. However, Harvey knows of several in roads into the property market if you have low funds in a rich area like the south east.  KEY TAKEAWAYS If your ability to take on stress is low then it is best to start with small buy to let properties on which you can learn and increase your confidence and skills.  The 10 methods are sourcing, joint ventures, remote property investing, lease options, rent to rent, vendor finance, exchange delayed completion, private finance, crowd funding and blockchain and crypto.  When setting up a joint venture always spend time fully fleshing out your agreement, responsibilities and expectations to avoid conflict later on.  With rent to rent you are a property manager and you can generate a monthly income, but you wont gain from value increases in the market as you don’t own the property. BEST MOMENTS ‘The four fundamentals is knowledge, network, money and what sits in the middle of all those is time. So you’re not going to move forward if you’ve not got the time to implement any of these.’ ‘Find somebody else that’s got some money to put into your pot. You might have 15k, you might have a family member that’s got 15,20,30k that can put their money into there and you arrange some sort of agreement where you do it together.’ ‘Rent to rent is where you rent your property from a landlord and then you’ll rent out, maybe as serviced accommodation or as a HMO. So you’ll take a normal property that’s generating maybe 1200 pound a month and you turn it into an SA it might generate 3000 pound a month.’  EPISODE RESOURCES How to Reduce Landlord Taxes 2019-20 https://www.amazon.co.uk/dp/1999640543/ref=cm_sw_r_cp_api_fabc_79R9ZHHR1A65RYM5YR4J The Richest Man In Babylon: The Success Secrets of the Ancients--The Most Inspiring Book on Wealth Ever Written https://www.amazon.co.uk/dp/0451205367/ref=cm_sw_r_cp_api_fabc_MFM0MP7WF7AWGWYX5051 Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! https://www.amazon.co.uk/dp/1612680178/ref=cm_sw_r_cp_api_fabc_1MY8PQJN7R1NSN167V6P VALUABLE RESOURCES 💻| Join us in our remote property investing Community on Facebook 📚| Live free training & Q&A every Sunday in the Community.    ABOUT THE HOST Harvey is the founder of Growth Properties Group, a small group of companies that help people live on their terms through property. With education, portfolio building, and property management.  He built his property portfolio and businesses in the Northeast of England, whilst living in the south, allowing him to spend time with his family and travel regularly.  Having built up the systems and team to run from his phone and largely on autopilot, he's now focused on helping others excel on their property journeys and build a remote investment lifestyle for themselves through group and 1:1 coaching programs.  His signature program, which runs 4 times per year, is the 6 Stage Remote Buy Refurb Refinance (RBRR) Blueprint. I help people to live on their terms through property & Coaching and portfolio building.  I’ve spent the last 7 years working out how to run my property business virtually from my phone.  Using tech to run my business while I’ve been travelling.  DM me clubhouse if you need help with this.  CONTACT METHOD 👓| Find me on Facebook  👓| Find me on Instagram 👓| Find me on YouTube 
 👓| Find me on TikTok See omnystudio.com/listener for privacy information.

What should you do if your property is down valued and you disagree with the given estimate? Harvey recounts how one of his properties has been down valued and what action he is taking to rectify the situation and get that valuation increased.  KEY TAKEAWAYS Agents are not allowed to disclose the sold price of any properties they have marketed similar to yours in the area. You can, however, tell them your estimate and ask them to tell you roughly if it is place too high or too low. If you are fully aware that your property has superior accommodation to one in your area sold at a higher price you can trust that your right and that yours is worth more. Check online. The surveyor should, especially in volatile markets, be phoning agents to ascertain recent values. If they do not, gather this data yourself and present it to them. They rarely back down, but it is worth trying. BEST MOMENTS ‘I say to them “I know you’re not allowed to tell me the price. Would you mind just giving me an indication as to roughly if I’m in the right ball park figures?”. They’ll usually tell you if you’re too high or too low.’   ‘The surveyor came in and valued it at 170k, 30k lower than what the market value is. I looked online as well and within a quarter of a mile there’s no 3 bed, all the the 3 bedrooms, though slightly better roads, are over 210k. So mine being 20k to 210k was very realistic.’ ‘It does show that you should challenge these sometimes. Its absolutely ridiculous that a surveyor would value it so low as at the moment we’ve got no signs of any collapse of the housing market.’   EPISODE RESOURCES How to Reduce Landlord Taxes 2019-20 https://www.amazon.co.uk/dp/1999640543/ref=cm_sw_r_cp_api_fabc_79R9ZHHR1A65RYM5YR4J The Richest Man In Babylon: The Success Secrets of the Ancients--The Most Inspiring Book on Wealth Ever Written https://www.amazon.co.uk/dp/0451205367/ref=cm_sw_r_cp_api_fabc_MFM0MP7WF7AWGWYX5051 Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! https://www.amazon.co.uk/dp/1612680178/ref=cm_sw_r_cp_api_fabc_1MY8PQJN7R1NSN167V6P VALUABLE RESOURCES 💻| Join us in our remote property investing Community on Facebook 📚| Live free training & Q&A every Sunday in the Community.    ABOUT THE HOST Harvey is the founder of Growth Properties Group, a small group of companies that help people live on their terms through property. With education, portfolio building, and property management.  He built his property portfolio and businesses in the Northeast of England, whilst living in the south, allowing him to spend time with his family and travel regularly.  Having built up the systems and team to run from his phone and largely on autopilot, he's now focused on helping others excel on their property journeys and build a remote investment lifestyle for themselves through group and 1:1 coaching programs.  His signature program, which runs 4 times per year, is the 6 Stage Remote Buy Refurb Refinance (RBRR) Blueprint. I help people to live on their terms through property & Coaching and portfolio building.  I’ve spent the last 7 years working out how to run my property business virtually from my phone.  Using tech to run my business while I’ve been travelling.  DM me clubhouse if you need help with this.  CONTACT METHOD 👓| Find me on Facebook  👓| Find me on Instagram 👓| Find me on YouTube 
 👓| Find me on TikTok  See omnystudio.com/listener for privacy information.

Can a refurbishment and subsequent management be handled from a long distance? Is it possible to complete the necessary tasks remotely? Harvey thinks so and in this episode he will explain to you how.  KEY TAKEAWAYS When purchasing properties from long distance it is possible to set up remote teams to handle the viewing for you and snap up those lucrative opportunities before they disappear. Use video calling in these situations. You have to weigh up trade offs to being distant. Remote management may produce shortcomings in the project but that does not mean it is not worth pursuing. Distance may result in compromises. If a builder refuses to use video calling tech, that can be a bit of a red flag. Choose people that are willing to regularly be in contact. BEST MOMENTS ‘Agents will do this for you over the phone now and they will do a video viewing for you, and what you can do then is offer on the property and say its subject to me turning up.’ ‘Spending 2000 more is better than having no job whatsoever. Do I prefer a bit of a drive? Do I prefer properties that I’m not going to tie up a lot of money in?’ ‘Each day you phone up you say ‘have you got the spreadsheet there?’ You manage their expectations because they have already agreed.’ EPISODE RESOURCES How to Reduce Landlord Taxes 2019-20 https://www.amazon.co.uk/dp/1999640543/ref=cm_sw_r_cp_api_fabc_79R9ZHHR1A65RYM5YR4J The Richest Man In Babylon: The Success Secrets of the Ancients--The Most Inspiring Book on Wealth Ever Written https://www.amazon.co.uk/dp/0451205367/ref=cm_sw_r_cp_api_fabc_MFM0MP7WF7AWGWYX5051 Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! https://www.amazon.co.uk/dp/1612680178/ref=cm_sw_r_cp_api_fabc_1MY8PQJN7R1NSN167V6P VALUABLE RESOURCES 💻| Join us in our remote property investing Community on Facebook 📚| Live free training & Q&A every Sunday in the Community.    ABOUT THE HOST Harvey is the founder of Growth Properties Group, a small group of companies that help people live on their terms through property. With education, portfolio building, and property management.  He built his property portfolio and businesses in the Northeast of England, whilst living in the south, allowing him to spend time with his family and travel regularly.  Having built up the systems and team to run from his phone and largely on autopilot, he's now focused on helping others excel on their property journeys and build a remote investment lifestyle for themselves through group and 1:1 coaching programs.  His signature program, which runs 4 times per year, is the 6 Stage Remote Buy Refurb Refinance (RBRR) Blueprint. I help people to live on their terms through property & Coaching and portfolio building.  I’ve spent the last 7 years working out how to run my property business virtually from my phone.  Using tech to run my business while I’ve been travelling.  DM me clubhouse if you need help with this.  CONTACT METHOD 👓| Find me on Facebook  👓| Find me on Instagram 👓| Find me on YouTube 
 👓| Find me on TikTok See omnystudio.com/listener for privacy information.