How did you get into property investment?
After qualifying from Leeds Dental School in 1996, I followed the traditional vocational training, associate and principal routes in dentistry, owning three dental practices along the way. Among these was ‘Aesthetics’, an award-winning private practice in Hertfordshire.
Like most dentists, I was making good money; however, it left me working long hours and missing out on family time, hobbies, holidays, going to the gym, healthy eating, etc. Even when I was away from the practice, I found myself thinking about patient emergencies or complaints, as well as staff issues.
Feeling alone on a professional level and unhappy with my lifestyle, I sought to make a change, so, as well as practising dentistry, I started to invest in property and stumbled upon some professional property secrets that helped to develop my business interests.
Why property investment?
All sorts of reputable sources have published figures that make investing in property a tempting proposition. For example, David Newnes, director of LSL Property Services plc, owner of Your Move and Reeds Rains estate agents, recently commented: ‘As we step into 2014, the recovery of the property market shows no sign of slowing down, with buyer demand growing swiftly and competition rising. Average prices reached a new record high in December after a yearly increase of £11,920, the highest since 2007, along with a monthly increase of £1,489. Without doubt, the market is moving full steam ahead towards widespread recovery. However, we’re certainly not in the bubble zone here, with price growth and sales both still some way off their pre-crisis peaks.’
Buy-to-let (BTL) need not require a large capital outlay, as long as you don’t opt for the most expensive properties from the outset. In addition, with Dental Property Club’s strategy of buying below market value you should always have built-in equity. BTL also offers you the advantage of being able to access the income whenever you want, and the money from a rental looks generous compared to the current rates on pension annuities. In addition, history has shown us that, as we come out of the recession, there is a good chance – but not guaranteed – that the value of the property itself will increase over the years. If you change your mind about BTL, you can sell the property to recoup your investment – subject to finding a buyer, of course.
The truth is that there are no hard and fast rules about where best to place your money, partly because any advice you’re given relies upon the current rules and regulations governing investments, which are, of course, subject to change. Always bear in mind that investments can go down, as well as up. There are no guarantees.
What can delegates expect to hear from you at Dentistry Live?
Dentistry Live delegates will have the chance to discover why the wealthy invest in property and make money while they sleep. Learn how you can buy 27 properties in 24 months, and how to take action to become financially free and only work when you want to.
I will cover my unique financial freedom formula – PISS:
P – Passive income
I – Investment income
S – Savings
S – Simplify.
Isn't it just another get rich quick scheme?
Absolutely not. I’ve found a system that works for me and that’s what I want to share. What I’m offering is not a ‘get rich quick scheme’ but rather proven, reliable tools that have the potential to help you achieve financial freedom over the long-term.
How can dentists benefit from property investment?
In a nutshell, it offers dentists the possibility of acquiring financial freedom.
As an example, over a two-year period I bought 27 properties and sold six. The profits from these deals allowed me to buy into dental practices and set up two squat practices.
The passive income that these properties brought in covered all of my financial commitments, enabling me to reduce my clinical dentistry hours and to spend more time with my family and on myself.
Eventually I found that I was making more money from property and practising dentistry two days a week, rather than full-time. I have actually retired from dentistry to concentrate on the property side of my work.
What advice would you give to someone thinking about getting involved in property?
This is a business venture, so treat it as such. You need to:
- Have clear written goals on what you want to achieve from property
- Know how much money you have at your disposal
- Have the right team on board
- Work out how much time you want to spend on the business
- Know what marketing activities you’re going to do
- Know what strategies you will use after you have bought the property
- Know how to manage the properties.
Then you need to approach the above-mentioned all-important points in the same way as the professionals, so in the first instance I recommend you download my free book 10 Secrets To Successful Property Investing For Busy Dentists from www.dentalpropertyclub.co.uk.
And then, of course, why not come and hear me speak at Dentistry Live? I can promise you a fun, informative presentation that has the potential to change your life for the better.
Harry will be speaking on Friday 13 June between 16.00 – 17.30 at Dentistry Live. You can find out more here: www.dentistrylive.co.uk.