Don't invest unless you're prepared to lose money. This is a high-risk investment. You may not be able to access your money easily and are unlikely to be protected if something goes wrong. Take 2 mins to learn more.
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Don't invest unless you're prepared to lose money. This is a high-risk investment. You may not be able to access your money easily and are unlikely to be protected if something goes wrong. Take 2 mins to learn more.
Mr and Mrs Orebiyi are LandlordInvest borrowers who now operate their Blackpool investment properties under the brand SBStayz.co.uk and you can also find them on Facebook at SB Stayz | Blackpool.
Why did you become a property investor?
We became property investors due to a strong desire to stop working at the weekend. My daughter plays tennis and competitions are on the weekend. She has missed many competitions due to the fact that I work on the weekends. I also need to spend time with the family as the children are growing quickly and I feel I'm already missing quite a bit. We also wanted a business that can provide steady income without the worries of not getting a salary, even if we decide not to work for some time. These factors influenced our decision to become property investors as my wife and I still hold full time jobs – I’m a medical doctor and my wife is a teacher.
What is the most important factor to you when identifying promising investment opportunities?
Unfortunately, I don't think we've honed in on the skill of identifying promising investment opportunities yet, but this is something we are working on. We bought our two investment properties without going for a viewing.
Which key qualities or skills do you think are most important for success in property investment?
I think this depends on what property sector one is investing in. Both our properties are run as holiday lets and there are times when clients call us and we need to make quick decisions based on their needs. I think the other important skill is being able to identify a property, see what it could potentially become, and if the numbers would work.
What are some of the biggest mistakes you see property investors making?
We haven't had the chance to network properly and I think this is a big mistake. Our jobs have made this difficult and we should try to change. I think our biggest mistakes have been not viewing the property, not doing due diligence + not having the right tools to check the numbers.
What are your thoughts on the current state of, and outlook for, the UK property market?
I think the outlook is always going to be good. Some people see doom and gloom whereas others see investment opportunities. One must learn to adapt and change. It's the survival of the fittest!
How was your experience working with LandlordInvest? Was anything different from your experience with other lenders?
We had a good experience working with LandlordInvest. They are considerate and make decisions quickly which helps. Lower fees would be appreciated though.
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