A new book shines the spotlight on get-rich-quick chancers in the property training industry in a bid to stop investors from getting ripped off.
Property developer and trainer Henry Davis says the sector is rife with charlatans who charge exorbitant prices and, from personal experience attending courses, reckons their training is dishonest and misleading as you’ll never get rich from doing it.
“The only reason they say you can ‘buy a property with no money down’ is because they don’t want to reduce their target audience by giving a minimum figure to attend,” he tells LandlordZONE.
Investing proactively, yet cautiously, believes Davis, will result in making fewer mistakes, and he’s penned The Truth About Property “a no-nonsense, definitive guide to truly succeed in the property market, at any level” to explain just how, by offering no-nonsense advice on due diligence, valuations, buying tricks, and the art of project management.
“Watch the live auctions in your target area and don’t worry about the data, you’ll find out what’s in demand and you’re also teaching yourself how to value property and rental yield,” advises Davis.
“And make sure your first project is a major refurbishment – that way, by working with a professional architect, surveyor and planning consultant you’ll get a great crash course.”
Mentoring
His suggestions are based on 32 years of experience in residential and commercial property – he now operates under We Buy Any House Liverpool, M Luxury & H Apartments and Genii Developments Ltd – and already shares his knowledge on NRLA-run courses as well as through one-to-one mentoring.
The Liverpool-based author started off by buying a neighbour’s house in 1990, then began trading in apartment blocks 20 years ago, buying in bulk from developers and flipping contracts by selling them on individually – using the deposit from each buyer to fund his deposit with the developer.
Davis now focuses on developing large HMO blocks, all en-suite and a minimum of nine square metres, which is the secret to low tenant churn, he explains. “I average 24 months with these HMOs, whereas the industry average is six to eight months.”
Buy his book via Amazon.
Credit: Source link
