The Progressive Property Podcast How Mark Homer Built a £Multi-Million Property Portfolio From Zero
Kev is joined by “The brains behind Progressive Property” Mark Homer to talk about how he built his multi-million property empire, his thoughts on the property market right now, as well as how to find investors and venture partners. He also delves deep into the importance of risk in business and how you can manage it.
KEY TAKEAWAYS
- The biggest risk mark has had to contend with is his most recent property development when lockdown hit right in the middle of the project and he was paying 60k a month in interest. But the risks taken have paid off.
- Lots of people use the asking price as a guide price in property, but it can be irrelevant in the grand scheme, a property will sell for what someone is willing to pay for it.
- There’s still leverage to be had in single-let properties, you just need to focus closely now more than ever, on the yield.
- Direct to the vendor can be a great way to get a discount on your purchase price but working with agents and fostering those relationships can help you get more and bigger deals too.
- You have to educate yourself so that you know how to recognise a good property deal anywhere, regardless of whether that is from an agent, direct or even at auction.
- Build credibility for yourself and show the value you can bring to a deal, creating your own track record, this will make you appealing to investors.
- Debt can be powerful. It’s important to not over leverage but you can actually make more money from inflation by reducing the value of the mortgage than actual growth in real terms.
- A good accountant can add a lot of value, you don’t know what you don’t know and they can reduce your tax bills significantly.
BEST MOMENTS
‘If I’ve got a property question, if I’ve got a business question, Mark Homer is the person I’m going to go to”
“You always want to add value, it’s so important”
“The best deals we have ever done have been direct vendor”
“We all start the same way”
“You can make more money out of inflation, reducing the value of the mortgage than you can growth in real terms”
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.
CONTACT METHOD
https://www.facebook.com/kevinMcDonnellProperty/
TikTok: https://www.tiktok.com/@progressiveproperty
YouTube: https://www.youtube.com/channel/UC0g1KuusONVStjY_XjdXy6g
Twitter: https://twitter.com/progperty
LinkedIn: https://www.linkedin.com/company/progressiveproperty
Instagram: https://www.instagram.com/progressiveproperty/
Facebook Community: https://www.facebook.com/groups/progressivepropertycommunity
Facebook Page: https://www.facebook.com/Progperty