The one about property challenges. PIP Manchester. June 2023

Jun 21, 2023

By Alicia Barlow

PIP Manchester welcomed our members and some new faces back to the exclusive Together Conference suite. We were jammed packed this month!

Kicking off the meeting was the fabulous Ritchie Clapson, bringing some humour and positivity to the room

The biggest learning Ritchie wanted to impart to the group was your property portfolio is a business! You own it, so operate it professionally and have the best qualified and experienced team around you for support.

Our second speaker Mark Barrett, showing us the challenges he’s faced in property!

Starting in the police at 16, he learnt how to read people; their body language and how to subtly communicate and negotiate. This skill has followed him throughout this professional career.

The big tip from Mark was make sure that you offer a couple of options to Vendors when making your offers. Straightforward cash strike price (usually lower) OR a higher offer with a delayed completion or some of the consideration paid over time. This add values to your margins, reduces your risks and manages the Vendors expectations simultaneously.

Our wonderful sponsor Craig from the Mortgage consultancy gave us an update on the mortgage world and its current / potential impact on deals in the short and medium term.

Panic is setting in with rising rates and the outlook in the short term… so current research is showing that 33% of landlords want to sell their property in the next few months … until they realise the price tag!

Keep positive, informed and focused on your margins / deals. Don’t be discouraged to renegotiate if you need too; it’s a very fluid market.

Moving onto our round tables after a delicious lunch we had a great selection of options for our members and guests who had the ability to ask one to one questions from our Speakers and Sponsors on the day.

Discussions about the benefits of treating your investments as a business and in the current market/ landscape the best ways to get the most value from your deals and opportunities!

Today was such a positive meeting, showing how mindset is a huge contributor to your ability to make decisions and to continue to invest in a challenging marketplace. Equally, how being part of an active and experienced community like PIP is another important aspect of being able to add value to your opportunities and property businesses.