Whilst the weak are running around like headless chickens panicking over the Credit Crunch, a very small minority are taking a long term view and looking at today's market in a very different light. If you were to go to Harrod's in London, would you rather buy something at full retail, or wait until the sale is on? Assuming you have half a brain then I'm sure you'd rather bag yourself a bargain. This is the situation in the UK housing market today. Anyone looking to take advantage of the situation needs to make sure they are aware of the fundamentals and then take action quickly in order to capitalise. If an alien came into my office today, this is the information I'd make sure they knew:
* The hidden costs of BTL. You need to be aware of all the costs. For 5years unscrupulous firms have been hiding the facts.
* How to make sure a deal stacks. Don't throw good money after bad. Make sure the deal is properly costed before parting with any cash.
* How the bank make sure YOU stack. The Credit Crunch means that the banks are more picky in who they lend money to. Fortunately for us, the bank only care about 4 things.
* What taxes need to be taken into consideration. No-one wants to make bucket loads only for the taxman to take it all away.
* What is the best way to pay back a BTL mortgage? It all boils down to a choice of two things - repayment or interest only.
* What is the best strategy to follow during a recession. I have identified 5 main BTL investment methods, but one of these stands out as the most "Credit Crunch Proof".
* What potential problems could arise during the Credit Crunch - and how to fix them. The recession raises extra problems that weren't a concern when the market was good.
In summary, every cloud has a silver lining. Whilst the Daily Mail readers are shuttering their doors and windows, canny investors are cashing in. In a decades time, don't look back and say "I wish I had bought when the prices dropped", take action now!
http://www.uncommonadvice.co.uk
Article Source: http://EzineArticles.com/?expert=Ross_Taylor
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