Founders of Platinum Partners, Steve Bolton and Nick Carlile who co-authored the book, believe that a shift in investor attitude on the importance of carrying out proper due diligence has led to growing interest in the book.
When the buy-to-let market crashed in 2008, so did the hard earned savings of many investors.
Steve Bolton comments:
“The crash in the market and the growing media spotlight on rogue traders squashed investor confidence and so the idea behind the book was to explain how to sidestep the pitfalls that have tripped up so many investors.”
This year, a new edition has been launched with two additional chapters focusing on buy-to-let and passive investment, areas which Nick Carlile, who heads up Platinum Portfolio Builder as part of Platinum Partners, specialises in.
Nick adds:
“The primary impact on the property market, both in the UK and Europe, has been the reduced availability of financing. While the fall in house prices are what have hit the headlines, the key issue for investors has been the massively increased level of capital required to finance a deal.”
More recently, media attention has focused on properties yielding record-breaking rents in certain areas and so since adding the new chapters, PPB has seen an increase in people interested in their passive investment opportunity.
Steve adds:
“It helps investors gain trust in investing in the residential property market when carried out correctly”
With buy-to-let lending improving and average monthly rents leaping to an all-time high of £701 according to LSL Property Services, people are once again considering bricks and mortar as a lucrative long-term investment.
However, the global property market and economy has shifted massively and so most are a lot more cautious this time around.
Steve adds:
“Investors should, and appear to be, treating property as a business not a hobby, and I believe that, unlike before when pretty much anyone could buy and sell a property and make money, investors want to learn and be advised on the correct way to go about this and I think this has led to the increased sales of ‘The 7 Biggest Mistakes."
As well as being endorsed by high profile figures from the property, business and personal development spheres, such as Simon Woodroffe, entrepreneur and founder of YO! Sushi and Yotel and Kate Faulkner, author of the Which? essential property guides, Platinum Partners has received increasingly positive feedback from purchasers who have read the book.
One said:
“It’s such a shame I didn't have access to this information eight years ago. My property purchasing could have been so different and I would have avoided at least a few of the mistakes I made”.
Another reader remarked:
"This should be inspirational to pretty much anyone who's going into business for themselves and offers some really good advice just for getting where you want to be in life, whether that's in property or otherwise.”
