Edge Newsletter #6

What I’m reading

How to Win Friends and Influence People is one of the all-time classics. Despite the cheesy title, it’s one of the most influential books on improving your ‘people’ skills and networking. I always like old books because they have stood the test of time. It’s one that I return to time and again to remind myself of the principles.

Resource of the Week

The Colin and Samir YouTube channel is a goldmine of insights for anyone vaguely interested in the content creation industry. Some of the biggest names in the industry, including Mr Beast and MKBHD, make appearances. It’s a fascinating look into the mindset of some of the most influential figures in this rapidly growing industry.

Quote

There is a saying that an appeaser is someone who believes that if you keep on throwing steaks to a tiger, the tiger will eventually become a vegetarian.

William Ury - Getting Past No

Thoughts

After months of false starts, I’ve finally had an offer accepted on a property. In the 6 years, I’ve been in property, I’ve never experienced so much difficulty acquiring a buy-to-let investment. Since around November time, the market has been extremely hot. Everywhere. Even just getting viewings is hard work. Typically I’ll spend all morning screening potential properties to shortlist, leaving say 20. I’ll call each one up, 12 will have an offer accepted, or fully booked for viewings; 3 will not have slots on days I travel, leaving 5 of which 2 or 3 will cancel on the day.

Auctions are no better. Here is a spreadsheet from an investor WhatsApp group I’m a member of. As you can see, the sold prices bear little relation to the guide price in many places. The market is extremely hot.

Personally, I’ll continue in my acquisition phase for the rest of this year but plan to reassess the best strategies going forward. I think there will always be a place for BTL. But the industry is being professionalised with the increasing number of regulations leaving little room for small-time investors. For those looking to build a portfolio, it’s key to diversify strategies to stay resilient in these uncertain times.