A leading buy-to-let mortgage expert has launched a TikTok channel to warn property investors about the dangers of ‘gurus’ who say they can make fortunes from ‘passive investments’ in property.
Lee Grandin, who for 20 years or more now has worked with landlords to help them finance properties and is also known as a regular on the stage at property shows, has taken to the social media platform as well.
Grandin’s videos are spoof versions of the many reels on TikTok, Instagram and YouTube by the army of overnight experts who say they can make novice investors millions or replace their day-job incomes with ‘passive income’.
“After doing my first video – which has been viewed over 250,000 times now - I was contacted by someone who thought I was another guru and wanted to know more, but I had to point out that my videos are spoofs – so I realised perhaps I was better than some of the people I’m taking the mickey out of,” he tells LandlordZONE.
“My social media following has grown and people say I come across as confident so I thought it was time to use TikTok to spread the word about the pros and cons of ‘rent to rent’.
“I enjoy doing the videos and that’s half the battle with this kind of thing.
“The aim is to ‘crossover’ from the world of mortgage advice and reach out to youngsters who might be attracted to the wilder claims made by some gurus.”
Grandin has launched a GoFundMe page to help him raise money to promote his videos and get the message out that being a BTL landlord requires hard work, can be risky as well as rewarding and is usually achieved via careful financial planning, he says.