Save £20,000 and reap massive Romanian returns
Welcome to this week's PRO newsletter. A packed issue this week, focusing on some nasty little surprises for landlords with converted houses. David Lawrenson has more on this later. We kick off our forecasts for property market performance in 2007 across a range of markets, starting with the UK and US. There are more investment opportunities coming up for those of you interested in potential returns of over 300%, Chris Browne talks about the importance of inventories in his Property Matters column and, as usual, a host of topics on our increasingly busy forums.
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This Week's Articles | On The Forums | Investment News
Website News | Event News
Property MattersA landlord's personal view on the market
Written exclusively for Property Secrets PRO members
"I've got a serious bookshelf habit. I swoon each time I see a new wall-unit or some smart-looking shelves at a friend's house. I just love their solid wooden craftsmanship and the way they can turn a bedroom into a reading room and a study into a personal library."
Click here to read more...
So about that potential £20,000 fine then. A scary thought isn't it. In his article 'Preaching to the Converted' David Lawrenson reveals how landlords with houses converted into flats could be hit by such a fine - if they are unaware of a little-known clause in the Housing Act that's about to come into play.
Here's a little of what David has to say...
Since July 2006 it has been a mandatory requirement for landlords with HMOs that have three or more storeys and five or more tenants to apply for a license for each property (and in some areas licensing extends to smaller HMOs too.)
Failure to apply for a license could land landlords with fines up to £20,000.
What few people realise is that the rules contain another set of definitions of houses in multiple occupation that include pre-1991 conversions that have been let out by their owners.
These can also be licensed if the local authority so desires.
The reason for this is to make the houses comply with the fire safety rules contained in the 1991 building regulations.
The offending part of the Act is Section 257.
This says that any converted building that fails to comply with the 1991 Building Regulations, and where more than a third of the units are let out, will be classified as an HMO.
Ok, so that's the cause of the potential problem. What to do about it? Read the full article to find out!
We've also published our first in a series of articles giving our forecast for property prices in 2007. This article - part one of two and written by London-based American journalist Robert Liebman - focuses on the US and UK property markets - and what the state of them means to you. Part Two of the US/UK article will be published on Monday.
With so many investment opportunities in Romania coming up before the New Year we thought it a good time to explain to you what the real benefits are of investing right now in the country. That's why we've added a two part article this week examining what will happen after Romania joins in the EU in 2007 and why that benefits the investor and what will happen with the finance market there - especially in relation to foreign buyers. You can read both articles using the links below:
Our final article this week looks at the importance of keeping the property chain intact, how to go about it and how to save money doing so. Vital advice for property investors from Tony Booth. Read it here.
Coming Soon: All New Property Auction Secrets19 novice and expert strategies for profitable buying and selling at auction
Brand new sections including:
- A Day at the Auction - get over your fear with a virtual tour of a property auction
- Property auction trends - what happened in 2005? How did 2006 go? What does it mean for 2007? How can you take advantage?
- Could online auctions provide a different option?
What else?
- A full breakdown of the research you must do, how to go about it, and how to save money in the process.
- A comprehensive chapter on the legalities of a property deal, and some of the pitfalls.
- Special software to help you calculate the ideal bid price - prior to going into the auction room
"Thanks to Property Auction Secrets, I now have the confidence to step into the auction arena knowing that I can finance my property and make money on it! There's nothing stopping me now!"
Simon S
Launching soon...
Exclusive to PRO members, the Property Secrets Discussion Forums are a great place to chat with like-minded investors and get advice and opinion on property issues, including where to buy, what to buy, taxation, finance and property management.
Interesting topics this week have included:
- Dodgy Estate Agents - posted by SueO
Sue thinks she's been stung. What can she do about it though? Any ideas?
- Amsterdam - posted by parker
Yet another market to discuss. parker wants advice on Amsterdam. Can you help?
- A challenging question - posted by Andy
Andy has an interesting question regarding a property owned by his grandparents. How can he make best use of what is now a vacant property?
Upcoming Opportunities:
- Warsaw, Poland
- Krakow, Poland
- Bucharest, Romania
- Poznan, Poland
To make sure you are kept up to date with our investment launches log in to the Property Secrets website, visit the 'My Account', then 'My Subscriptions' and check the Investment Launches box. Remember - you can enjoy 300% returns in the markets we recommend!
In the meantime, why not browse our Previous Investments page and judge our track record for yourself?
We have been working with The Money Centre to provide our members with a FREE mortgage quotation service for quite some time now...but this hasn't always been clear on the website. Now it is! If you visit the homepage you will see a banner on the left hand side entitled "Refinance to Invest". Just click that and you'll be taken through to the simple form. Fill it in, send it off and The Money Centre will provide you with a quote totally free of charge!
Why do this? Well, if you're looking to invest in property then the easiest way to do so is to use the equity in your existing property. So whether you are considering refinancing your own home or your existing investment properties to continue building your portfolio, Property Secrets and The Money Centre can help.
We've also added a new feature to the Discussion Forums - "Report Abuse". Why? Because we're keen for our PRO members to 'police' the forum themselves and let us know if someone is breaking our Terms & Conditions. The Forums are there for your benefit and we're dedicated to improving and creating a better experience for all our PRO members.
Why not sign up to a PRO membership now and see what you're missing on the Forums.
We had yet another good evening last night in Leeds and for those of you who joined us it was great to see you. We hope you enjoyed the evening as much as we did and found it useful.
We have two more coming up before the end of the year in Birmingham and London. We've had to revise the date of the Birmingham Investor Evening due to a change in our investment opportunity schedule and we'll advise of you the new date as soon as we can. Hope to see you there!
I hope you've enjoyed this newsletter and if you have any questions, queries or suggestions please drop me a line at: service@propertysecrets.net
I look forward to hearing from you.
Happy investing!
Cheers
Chief Executive
Property Secrets
ES