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The Property Podcast

TPP439: Is BMV dead?

The Property Podcast

Rob Bence & Rob Dix

Business News, News, Business, Education, Investing

4.82K Ratings

🗓️ 12 August 2021

⏱️ 31 minutes

🧾️ Download transcript

Summary

Is BMV dead or is there still a way you can do a deal? In the property world we love bagging ourselves a deal. But right now, the property market is incredibly hot.   So, does that mean doing a deal or better yet a BMV (below market value) deal is almost impossible?  That’s what we’re going to explore in today’s episode so make sure you tune in.   If you want to learn more, check out our free course on how to get a deal.    In the news  If you listened to last week’s episode, you’ll remember that we were stunned by some data from the US property market.   It was the fact that the US property market is up 23% year on year which is crazy! We promised to investigate more into this and we’re keeping our promise.   That figure was based on existing inventory, not new build homes. So, the growth was actually 15.8% which still makes our own boom look like nothing.   This data was taken from a Forbes article where it looks at America’s states.   Another news story we spotted this week was ‘owners of low-rise flats freed from wall safety certificate need’. In a nutshell, anyone who owns a property in a building smaller than 18 metres no longer need an EWS1 certificate.     Hub Extra  This week’s Hub Extra recommendation is a book from Rob B. It’s a combination between sport and business so if you have an interest in either, you’ll enjoy this book.  It’s called ‘Relentless: 12 Rounds to Success’ by Eddie Hearn.  This isn’t a rags-to-riches story because Eddie Hearn came from a wealthy family (which he acknowledges in the book), but is covers the struggles he had to overcome to be his own successful person and step out of his father’s shadow.     Let’s get social  We’d love to hear what you think of this week’s Property Podcast over on Facebook, Twitter or Instagram. You might even have a topic you’d like us to cover in the future - if so, pop us a message on social and we’ll see what we can do.  Make sure you’ve liked and subscribed to our YouTube channel where we upload new content every week!   If that wasn’t enough, you can also join our friendly property community on the Property Hub forum.  See omnystudio.com/listener for privacy information.

Transcript

Click on a timestamp to play from that location

0:00.0

Hello Robby here with RobDee. Now let's face it in property. In life, we all love doing

0:08.8

a deal. But the property market is hot right now. So does that mean that doing a deal or

0:15.6

doing a BNV deal, blow market value deal, is off the cards. It can't happen. It's hard

0:20.4

enough in a normal market. Well, we're going to have a look at it. We'll see if BNV is dead

0:24.2

or is there a way you can still do a deal. Welcome to the property podcast where every

0:34.3

Thursday morning, property investors come to be informed and inspired. A hot property

0:38.8

market is great news if you already own property. It's not such great news if you're trying

0:43.6

to buy property and especially if you're trying to do a deal. So in this episode, we're

0:47.8

going to talk about what's realistic in the current market and how to give yourself

0:51.2

the best possible chance of getting a deal done. And there are some tips in there that

0:54.6

you might not have thought of. So make sure you stick around and stick around to the

0:58.2

end for hub extra because it's not easy to be a buyer in the current market. You're going

1:01.8

to need a bit of motivation and inspiration. And that's what we've got for you in hub

1:06.0

extra. So it's time for our new story of the week now. And you may remember from last

1:11.6

week, we were stunned by some data from the US property market where we reported, but

1:16.8

didn't quite believe that the US market is up 23% year on year, which is just mind blowing.

1:24.8

That is crazy growth. You think it's going great guns here? Well, that's double the pace.

1:30.2

So we promised to go and investigate and have a look into the US market a little bit

1:34.4

more. So we bring you another new story this week from our good friends over the pond

1:38.5

about their property market. Yeah, we thought that number couldn't possibly be right.

1:42.2

So we went away to look into it a bit. And it turns out it's a bit different because

1:45.4

that was just measuring existing inventory. It doesn't include new homes. If you go and

...

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