The Progressive Property Podcast Part 1 - Doing Property Differently with Property Developer Jerome Roith
Join Kevin for the first instalment of a discussion with property developer educator Jerome Roith. Jerome works very differently from Kevin but has had a lot of success which is why Kevin wanted to get him on the show, to share his knowledge and different perspective on property. Jerome shares his personal journey into property development and Jerome and Kevin share the similarities and differences in their property approaches.
KEY TAKEAWAYS
- After Kev had investments go under in the 2007 crash he had to get creative with making property deals, this is when he started doing rent-to-rent and lease options.
- Jerome sells to developers, which carries a different level of risk but gives him better margins.
- Time is valuable and the more experience you have the more valuable your time is to others.
- Kevin is always looking for new creative ways to invest in property, such as converting student accommodation into serviced accommodation or HMOs for professionals.
- Being an expert in your local area can help you source the best deals especially if joint venturing.
- Joint venturing is also something that can be useful in Jerome’s world of property development, particularly around enabling scale.
BEST MOMENTS
"You do a lot of land and not the house itself”
“I had the realisation that if I don’t do something I’ll be paying this off for the rest of my life”
“The thing that put me in debt was property but the quickest thing to get my out of debt was…property”
“There’s too many people running around not making enough of a margin and taking all the risk”
“When I move into other things that’s when I make mistakes”
“If you’re not making money when you sleep you’ll work til you die”
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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