PROPERTY: 5 ways to Prepare For a Property Market Crash
In this episode, Rob shares five ways both property business owners and homeowners can prepare for a property market crash. It is information anyone can use to stand a good chance of insulating themselves against the worst effects of such a situation. Rob is not being all doom and gloom here, just pragmatic. He is not a qualified financial advisor. But he is a successful property investor who works proactively to anticipate potential issues and guard against them.
The Property Nomads Podcast · Rob Smallbone & Aaron Devoy
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Show Notes
In this episode, Rob shares five ways both property business owners and homeowners can prepare for a property market crash. It is information anyone can use to stand a good chance of insulating themselves against the worst effects of such a situation.
Rob is not being all doom and gloom here, just pragmatic. He is not a qualified financial advisor. But he is a successful property investor who works proactively to anticipate potential issues and guard against them.
KEY TAKEAWAYS
- Speak to your mortgage advisor now, to get their take on the situation.
- Don´t automatically dismiss the idea of remortgaging, if advised to do so. It is a hassle, but for some, it will be important.
- Stress-test your portfolio. Do a what-if exercise to see how strong your business would be if interest rates rose.
- Work to keep your emergency cash reserves intact.
- Consider diversifying your assets.
- Keep an even closer eye on your finances.
- There are always opportunities when markets crash. Be ready to take advantage of them.
BEST MOMENTS
‘What does your portfolio look like if the mortgage interest rates went up?’
‘Opportunities are around us all the time when markets crash.’
‘You should have three to six months of savings behind you.’
ABOUT THE HOST
Rob Smallbone the host of The Property Nomads Podcast, is on a global mission to guide your success. Success can happen in many ways, shapes, and forms. Think about what success means to you. More properties? More clients? Financial freedom? Time freedom?
Rob wants to make a huge difference to people around the world. He is here to guide your success in property, business, and life and to inspire you to achieve your goals, dreams, and visions. He's travelled, explored, and invested. And he's not planning on stopping these activities anytime soon.
Buckle up, sit tight, and enjoy the ride that is life.
BOOKS
Buy To Let: How to Get Started = https://amzn.to/3genjle
101 Top Property Tips = https://amzn.to/2NxuAQL
WEBSITE
www.tpnpodcast.com
SOCIAL MEDIA
Instagram - https://www.instagram.com/thepropertynomadspodcast/
Facebook - https://www.facebook.com/ThePropertyNomadsPodcast
YouTube - https://www.youtube.com/channel/UCejNnh8OEUXSrdgFDFraWxg
PODCAST
The Property Nomads Podcast:
I-Tunes = apple.co/3bHNn5G
Stitcher = bit.ly/3cFQVqe
Spotify = spoti.fi/2XaZliP