Miracle Properties Ltd

During the second quarter of 2020, it felt a bit like the world stood still and while the whole world was paused, I continued with my rehabilitation during my sick leave. Emelie has been furlough and worked 60%. Céline has been sent home from kindergarten. My mother is still stuck in Ghana but hopes to be able to come in September.
The new normal is to have hand sanitizer in your back pocket and keep your distance from everyone, especially older people.

When it comes to properties, the expansion has been rather slow.
What we have done instead is to continue educating ourselves through various webinars and I have read a number of books.

I and many other experts believe that we are entering a recession. Therefore, there will be a lot of opportunities in the future.

Right now, Covid-19 does not feel much on the market, but some banks in the UK have begun to deny private individuals who are furlough mortgages.

Over 730,000 have lost their jobs (31 August 2020)

The redundancy support will stop completely in October in the UK and then we believe that unemployment will unfortunately increase. This will lead to the frenzy that is currently going on in the market, where everything is being sold at a premium, will slow down and there will be a lot of opportunities.

We look at several different strategies

* R2R HMO (House in Multiple Occupation)
* Commercial properties that we can convert into Apartments
* Lease Option
* Organizations that rent the property over a 5-10 year period.
* Standard BTL (single-family house)

We strongly believe in these strategies during the coming recession and not Flip (Buy renovate then sell).

We have sent our builders on a number of tours and then bid on the houses but people are buying like never before and it has not helped that the government pause the stamp duty until next year to stimulate the market.

Emelie has taken care of our accounting and reported it.
We have also paid taxes to our investors.

Q2 has been an educational period and very networking ONLINE!

Q3 will probably be hectic! We have a lot going on in the future.

We have made a collaboration with Imran Lokhon and Modus.
We will release videos every Thursday from now on, there are already some videos up.

We have had over 2000 listens / downloads since we started. We average 350-400 listens a month.(1 July 2020)
All this is great fun and we are very grateful that people take the time to follow us and listen to our journey.

Stay Safe and let’s hope we go back to normal soon!

Webinar Series :

Leave a Comment

Your email address will not be published. Required fields are marked *