Did You Watch BBC's Property Watch?
I loved this program! The best bit was when you had the buy to let king (not me!) Andreas Panayiotou worth £500m sitting next to a Professor from Warwick (who said prices were going to crash by 30% in 2003!).
The presenter asked Andreas:
"Are you worried that the professor said prices are going to crash a further 10 to 15%?"
"Not one bit" Andreas replied!
And of course not. He came on and said exactly what any professional investor would say. Yields are very attractive, are at a high margin against the long term borrowing rate and offer a much better return than putting it in the bank.
Just to let you know Andreas is getting back in to buy to let BIG TIME. This guy is 158th in the rich list and is only 42. If ever I was looking for an endorsement to buy to let it he would be in the top 3 who could.
So the soon to be billionaire is getting back in to it
The multi-millionaire (me!) never got out of it and is buying up as much as he can.
The first time buyers are getting back to it but losing out to investors
And the professor is sitting there doing nothing!
It was funny. They showed Andreas flash Rolls Royce with his chauffeur. I bet the professor was heading back to Warwick in the train!
I do not mean to be rude but business people never take heed of what an academic says. This is because theorists lack any experience of taking risks. Yes they can analyse what is going on and the forces at play but until you make a profession out of taking calculated risks (like business people) then an academic can only offer you food for thought. Never advice.
Does that sound snobbish? I hope not. I hope you understand that you would not go and see a dentist if you had a bad back. Okay the dentist may have some idea what is wrong as there is a bit of crossover with dentistry and medicine but really a dentist cannot offer you any real advice as it would be pure speculation.
However someone who has made £500m investing in RESIDENTIAL property in less than 25 years and is advising that the RESIDENTIAL market looks ripe you have to kind of listen up!
Here is to the quickest property crash in the 21st century.
