The UK is officially in a recession. In this episode, Kev talks about the news and how it may impact you as a property investor. He discusses what might happen with interest rates, the opportunities and creative techniques available to property investors and why this is the perfect time for you to scale your business.
KEY TAKEAWAYS
- There are different challenges now to 2008, particularly around inflation.
- The Bank of England will be feeling pressure to reduce interest rates.
- A recession can be an opportunity for property investors, there will be a lot of deals out there.
- There are two types of sellers in a recession, those that want to sell and those that have to.
- The main form of control you have as an investor is the money you put in today, the rental income you make and how you scale your business. Recessions are great periods to scale your business.
- Don’t confuse good debt with bad debt. Good debt is serviced by someone else that creates profit for you.
- There is a looming house price drop but in the long term, the prices will always increase. Property investing is about the longer-term trends.
BEST MOMENTS
"This is the longest recession ‘not a recession’ I’ve lived through”
“People are poorer”
“That creates a lot of opportunities for creative property investing”
“The techniques you can use in a recession can allow you to scale massively”
“There are loads of £1 deals out there!”
“We are going to see a house price drop”
VALUABLE RESOURCES
MSOPI – Multiple Streams of Income:
https://www.progressiveproperty.co.uk
ABOUT THE HOST
Kevin McDonnell is a Speaker, Author, Mentor & Professional Property Investor. He is an expert when it comes to creative property investment strategies. His book No Money Down: Property Invest talks about how to control and cash flow other people’s property to create financial freedom.
CONTACT METHOD
https://www.facebook.com/kevinMcDonnellProperty/
TikTok: https://www.tiktok.com/@progressiveproperty
YouTube: https://www.youtube.com/channel/UC0g1KuusONVStjY_XjdXy6g
Twitter: https://twitter.com/progperty
LinkedIn: https://www.linkedin.com/company/progressiveproperty
Instagram: https://www.instagram.com/progressiveproperty/
Facebook Community: https://www.facebook.com/groups/progressivepropertycommunity
Facebook Page: https://www.facebook.com/Progperty
Popular Podcasts
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations.
Death, Sex & Money
Anna Sale explores the big questions and hard choices that are often left out of polite conversation.
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.