Live Q&A on Property, New Building Regulations, SA & Commercial Conversion

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Join in a LIVE property Q&A discussion with one of the UK’s most experienced investors. Take a seat at an intimate insider property session with Progressive Property co-founder and Mark My Words host, Mark Homer and discover his insider predictions on the UK property market, the shape of current investments, property price predictions and new legislation. If you’re looking to get a head start in property, this is the episode for you.
KEY TAKEAWAYS:

How difficult is it to raise the value of a certain area?

  • Developers often do this when they develop a larger site. They will do all the infrastructure, road networks and landscaping which will lift the values. I have never seen anybody achieve that by doing it on an individual property by property basis.

How are you finding the market purchasing at the moment?

  • I haven’t bought anything for the last six months, however, I do talk to many people. It depends where you are and what you’re looking for. I had some people telling me that the deal flow was really good at the moment. I think the possibility of a no-deal Brexit had ruined a lot of the sales up. If you’re finding it difficult, I would suggest looking at your supply lines. Get more agents, create leaflets and send them out once a month over the next six months. You should then find improvements in that area.

Can you see any new legislation coming out that will disrupt the market at all?

  • The only thing I have seen was a planning appeal whereby a council told owners that they couldn’t use the property as C3, it is C1 so they required planning consent. Which I thought was bad, but people seem to be carrying on as normal. Other legislation such as section 21, meaning that you’re not going to evict tenants for any reason, it will have to be for misuse of the property or non-payment of rent. I believe there will be more selective or additional licensing and more enforcement. There are lots of changes to leasehold properties, the ground rent is going to be set at zero for new ones.

Are there any general tips you can give on making the transition to the next level up in property?

  • You really need to end up with a margin on cost no lower than 20% once you’re at the end, which may be 30% when you’re starting out. I think it is a couple of units you can do with permitted developments, on your early ones it might be a good idea to go with a smaller unit and convert them. Sometimes you will have to pay more for those. It’s all in how much you buy it for, if you buy it cheap enough then you can almost go through this whole “university degree” with making all the mistakes through the project and come out the other end alright if you got it cheap enough.

I’ve got lots of agents interested in investment, how can I convince them to invest?

  • Go and sit in front of every single agent at least once every two weeks. Try and get them out and have really strong relationships with them. They are having deals but they’re going in other directions. When you don’t get any results for three months, with leafleting and talking to agents just keep rolling. They have to get the leaflets through the door at least three or four times.

BEST MOMENTS

“Get more agents, create leaflets and send them out once a month over the next six months.”

“I think the possibility of a no-deal Brexit had ruined a lot of the sales”

“You can make all the mistakes through the project and come out the other end alright if you got it cheap enough.”

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.

CONTACT METHOD

Email: Markhomer@progressiveproperty.co.uk

LinkedIn: https://www.linkedin.com/in/markhomer1

Facebook: https://www.facebook.com/markprogressive

Twitter: https://twitter.com/markprogressive

See omnystudio.com/listener for privacy information.

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