VLOG #2 | The Decorators Are In!!!

In todays vlog the decorators have started work on my first investment property in Nottingham. I head to the B&M Homestore to buy floor tiles, and I also bump into an old university friend who is looking to buy her first house...

[@zoesays3830]

Interesting vid this one compared to the others seen so far :-)
Must say, I found you to be discouraging towards your 'friend' up and coming first purchase and I have to wonder why
*scratches head*
Points 14:44 (2nd viewing) and 15:05 (stamp duty) remarks in particular
How do you know she wont be the successful one in the purchase instead of the others who were also viewing?
I bet you cant wait (or will love it) when your purchases resell prices require stamp duty payments though innit?
14:02 Surprised to hear you went via a mortgage broker! Why couldnt apply and be approved by a high street bank? Is the reason in a vid that I've missed? BTW: Is the mortgage broker cutting you a deal for referring family and friends? Of course it's free cos good bizness for them innit?
FYI: Taking this observation of mine as negative is not the intention as a round of applause for your Nottingham purchase. Just felt had to stick up for your 'friend' and draw your attention to your choice of 'encouraging' words towards her 2nd viewing house purchase Also do give update whether you got back your £1 for leaving B&M store with one less trolley for their customers (8:49)
Keep going and every success with your future property purchases Just bear in mind others need the encouragement too!

[@thepropertyhustle38]

Thank you for taking the time to watch the video, I appreciate your feedback and the fact you were trying to stick up for my friend. I’ve re-watched the sections you highlighted and have tried to see it from your point of view. I guess it could be perceived as negative, however that certainly isn’t my nature and it is a shame it came across that way - I only ever want the best for my friends and they know as much. But I guess that is the nature of video content (particularly editing), you can’t guarantee how it will be perceived by viewers.
My friend and I both know how fast the market moves, and in fact last year when she first started looking she got beaten to the punch every time she found a property she liked and put in an offer. Hence my concern over her putting in an offer sooner rather than later in order to secure her desired property.
With regards to stamp duty, of course I don’t want my friend paying SD if she doesn’t need to. She herself was upset at the fact the property’s value surpassed the threshold; she had originally been looking below £125k but couldn’t find anything that met her exact criteria, and as she really liked the property she was willing to pay for it.
As for your question/assumption about me wanting my property resale value to require stamp duty. I will respond with two questions of my own.
Do I want my property to appreciate in value? Of course I do, which investor doesn’t? If I didn’t, it would defeat the point of investing in property.
Do I like the fact that if my property increases over a certain threshold it will attract stamp duty for a would-be buyer? No I do not. The stamp duty tax levy is unfortunately the nature of the beast when it comes to buying property for both investors and homeowners. It’s also worth noting that the more my property appreciates in value, the more capital gains tax I pay if I do sell so there really is no escaping property taxation :) With all that said I don’t actually plan to sell this property, it is a long term investment hold.
Yes I went through a broker, I mentioned in my latest video ‘7 steps to buying property’ that you can indeed go direct to a high street bank however you limit your options in doing this. A good broker will know all the available mortgage products both high street and non-high street and should work in your best interest to present you with the most suitable offer based on your specific circumstances. Interestingly enough when I approached NatWest originally as an individual, the offer they quoted me was considerably higher than that which my broker secured.
And in answer to your question, no the broker isn’t cutting me a deal for referrals. My broker is one of the few in the market that don’t actually charge the client who is seeking the mortgage, they get their fees solely from the mortgage provider that you eventually go with. I choose to refer my family and friends because I don’t want them spending what can sometimes be thousands of pounds in brokerage fees when they can use mine for free. Of course the more referrals the firm gets the more money they can potentially earn from the mortgage providers, so yes it is great business for them.
Haha yes we did take the trolley back however I didn’t get my £1 back as I gave the trolley to someone who was about to take one. I always bear in mind the need to encourage others, it’s the whole reason why I started this channel to encourage and motivate others to invest whether it be in property or other avenues.
Thanks again for watching - I welcome any future comments/ feedback you may have :)