The Progressive Property Podcast Part 3 - Doing Property Differently with Property Developer Jerome Roith
The third and final instalment of Kev’s conversation with Property Developer Jerome Roith where we learn how Jerome finances projects, raises private finance, and navigates government obstacles. He shares why direct vendor deals yield the highest ROI and how to turn "sealed" bids to your advantage. Jerome busts myths around market timing, explains why persistence trumps perfection, and gives insight into leveraging agents to your benefit.
KEY TAKEAWAYS
- Property investing requires financial creativity, such as seller financing or joint ventures, not just capital. Approach deals asking "How can I make this work?" rather than "Can I afford this?".
- Surround yourself with positive, ambitious people; "If you stay close to the fire, stuff will happen." Detach from naysayers sticking to conventional, low-yield paths.
- Governments often make decisions to get re-elected, not to help citizens. Since you can't fix the system, learn to profit from it.
- Agents often lack investing experience, so don't let them dictate what constitutes a good rental or deal. Go direct to motivated sellers whenever possible.
- Timing the "perfect" property deal is futile. Executing dozens of good enough deals leads to portfolio growth and mastery.
- Sealed bids reward preferred bidders. Leverage relationships with agents to access insider information on competing offers.
- Minor social media critiques are irrelevant. Focus your attention on high-reward activities like financial modelling rather than perfect spelling.
BEST MOMENTS
"I thought everybody was broke...there's more money on the planet today than there's ever been."
"If I hired a Lamborghini with some attractive females around the post, it would blow up. If it's you and me talking about deal strategies, they don't want to know."
"Anyone has the ability to be anything that they want to be. It's being that best version of yourself."
"My attention to detail has to be on the contracts... The social media stuff, you've kind of now opened that up."
"Only do a sealed bid or preferred bid scenario if you've got the agent in your pocket."
VALUABLE RESOURCES
MSOPI – Multiple Streams of Income:
https://www.progressiveproperty.co.uk
ABOUT THE HOST
Kevin McDonnell is a Speaker, Author, Mentor & Professional Property Investor. He is an expert when it comes to creative property investment strategies. His book No Money Down: Property Invest talks about how to control and cash flow other people’s property to create financial freedom.
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