Why I’m Selling My Properties Now—Answering Your Questions
As a property investor who has been giving you countless valuable advice regarding the field, I’ve been getting many questions regarding my personal investments. Today, I’m going to answer all of your questions!
Listen, even though I’m answering a few personal questions today, but just because I’m doing something, doesn’t mean that you have to do it too. Over a period of ten years, my strategies have developed, and I’ve advanced to who I am right now after many lessons and experiences.
Now that that’s out of the way, let’s jump right into your questions and answer them away!
The answer is simple: I’m using the money from the houses I’m selling to put into other houses. I’m not selling up my portfolio. It shouldn’t strike you as odd for a property investor/entrepreneur who trades, buys, flips a bunch of houses; it’s a normal thing to happen in the life of a property investor! I’m releasing cash from these houses to put into other houses.
Q: Why not refinance?
Because it depends per property, per situation, I do refinance houses, sometimes. When I met Lord Sugar, one of the things he told me when I told him my goal that I wanted a thousand houses was ‘it is a stupid idea!’
At that time, I didn’t get why he told me that. However, I looked at him and realized that he is a billionaire property investor; he knows what he is saying. When I started out in property investing, I wanted two-thousand pounds of passive income; I got that. Then I wanted six-thousand pounds of passive income; I got that. Then I wanted to be a millionaire, and I got that. Over the years, my goals changed, and my perspectives changed.
So, when I told Lord Sugar I wanted a thousand houses, he asked me why I wanted that to happen. And I told him because it sounds impressive. However, because of him, I realized that it wasn’t about how many houses you own, but how much money you’re making off of them. You need to strategically set up your portfolio. I’ve learned a lot from Lord Sugar that I’m going to share with you in another blog.
So, coming back to your question, I’m not refinancing because I might not want to refinance right now, I might want to sell it, or both. It’s not always black and white!
Q: Why do you tell people to get mortgages when you buy houses for cash?
It’s a very fair question. Right now, I’m not buying houses for cash. In 2018, my properties went so high in value that I refinanced a few. I started getting loads of money, and I just didn’t know what to do with so much money. Therefore, I bought houses for cash.
However, that was the time when I felt completely lost. I didn’t have any mentors to guide me because I was making more money than any of my previous mentors. In January 2019, I started giving out money! I remember giving out money to people on YouTube as well.
One of the people I met at that time was Gran Cordan. He is a billionaire. If not a billionaire, he must be worth hundreds of millions. He wasn’t lost; he had it together. He asked me what I was doing. He told me that the way I was acting was of someone who was retired and had a lot of money and no goals left. He told me that I was over the hill. He caused me to change my strategy, and I stopped buying properties with cash. I became smart with my money. Because of Gran, I got some perspective in my life. I’m not perfect, nobody is, I make mistakes, and I’m still learning! I would never say that I know everything about properties and investing because I’m still learning.
Q: Why am I selling from the auction?
Because it’s fast, I’ve personally seen how long and laborious it can be to sell a house, and people pull out this and that. Auction is fast.
Moreover, it is a myth that auction properties sell cheaply. I’ve seen properties sell in great deals, and it is a fast method.
Q: Is it a good time to sell?
Probably not! I just sold three houses earlier this week, but I wasn’t happy with the prices. We are living right now in a buyer’s market. I’m both a buyer and a seller, and I would say it’s not a great time for sellers! But if you’re selling because you’re going to be buying something, I’d say go for it.
Q: Why don’t I give addresses?
Because you can’t just do that! If I give out addresses of all my properties, my tenants are going to get harassed, and I don’t want to harm my tenants’ safety. I make a deliberate choice to be in the public spotlight. But just because I am comfortable in the limelight, doesn’t mean that my tenants will be too.
I get it; some people are looking for proof about my properties and my worth. I’ve made videos regarding that on YouTube, where I’m going through a deal, and have recorded that. I don’t need to prove anything to anyone more than that. Moreover, it is my teachings that are going to help you, not the addresses of my houses.
Q: What properties am I selling?
Properties I’m selling that I’ve put on my latest YouTube video:
Why am I selling these properties and not others? It all depends! Sometimes, it’s the area, sometimes, it’s about tenants, so there are a lot of reasons why I’m selling some properties and not others.
Q: Why the weird predictions?
Whenever I put out property predictions or general predictions, I’m predicting from my own knowledge and experience, and I’ve been right on all of them. When I predicted the effects of Article 4, it happened. When Section 24 came out in 2017, I predicted what’s going to happen: it was not for the first-time buyers, it was not for the tenants, this is for the rich, and it’s going to push rents up. It happened! I’m not saying that my predictions are always right, but generally, I am right most of the time.
I hope these answers clear some of your thoughts. If you’d like to learn more about property investing and get tips and tricks from me, subscribe to my YouTube channel today!
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