Manage episode 266608063 series 2342556
Learn how to make the most of the opportunities coming your way in property later this year after the COVID-19 pandemic. Listen in today to discover how to utilise empty retail buildings and convert them into property developments, the importance of creating strong relationships with estate agents as well as learning which areas of property are currently on the rise and which to avoid.
- As we progress throughout the year it is likely we will be in a situation where agents are going to be more and more interested in persuading their vendors to do deals. There will be more opportunities as the year goes on.
- Retail will be one industry hit the hardest after COVID-19, therefore there is likely to be many opportunities to purchase these retail buildings and convert the upstairs of them into apartments or rooms possibly using permitted development whereby you don’t need planning consent.
- It is important to focus on learning how to develop your relationships with estate agents because it is those guys who will bring you the best deals. In addition, you may find that the cheapest deals will be at the auctions. In a down market, the market will let you pay a lot less than the value.
- There is currently a high demand for HMO (houses of multiple occupancy) rooms due to many people's personal circumstances. As long as you create a great product and spend on the interiors to make them really high spec, there is a lot of benefit and opportunity when utilising HMO’s.
- There is likely to be a big demand for going direct to vendors when looking for new investments. Find vendors through marketing techniques such as leafleting, you may find people who are wanting to sell their property but do not want to publicly advertise.
- You need to get out there and explore new opportunities. Get out there and meet the agents and have a quality framework to use to negotiate and build those relationships.
“The people in the know, they are out there now starting to talk to commercial agents.”
“They want to get out of their jobs, and they want to start investing themselves.”
“There is a lot of opportunity there to increase your yield.”
ABOUT THE HOST
Mark Homer is an entrepreneur investor. He has worked with investment since he was 15 years old using the laws of wealth! He is a spreadsheet analyst with an impressive following from major publications including BBC Radio, The Wall Street Journal, The Independent, and co-authoring the UK’s best-selling property books. Mark has always looked for the best investment vehicle, and at the end of 2007 with Rob Moore the co-founder of Progressive Property his joint portfolio produced more profit than any of the other investments he’d tried in the last ten years, combined.
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