The Progressive Property Podcast Where Did You Start & Where Are You Going? Dan Eaton; Former Royal Navy Communicator & S.A. Expert
In today's episode, Kevin is joined by former Royal Navy communicator, corporate world project manager, Serviced Accommodation expert and Progressive Property VIP, Dan Eaton. Dan first attended a “Multiple Streams Of Property Income” event back in 2017 and since then has gone from strength to strength in the property industry and is now a full-time property developer and serviced accommodation provider. Listen in today as he describes his journey to success as well as providing top tips on how to make it in the property industry.
KEY TAKEAWAYS:
- Tell us a little bit about what you were doing before you came to progressive?
- About 2 years ago, I came to progressive along with a friend. At the time I was a project manager in the corporate world, prior to that I had been in the Royal Navy for 10 years.
- Before this had you ever invested in property before?
- No not at all, I had watched ‘Homes Under The Hammer” but I was always under the impression that you needed to have money to do property.
- You attended the multiple streams of income event in 2017, what did you do off the back of that event?
- I signed up for some of the training courses that Progressive have to offer and I attended the masterclass and the serviced accommodation course.
- You decided that you wanted to do serviced accommodation, how did you do it?
- In the training we learned about rent to serviced accommodation, meaning borrowing a house or accommodation from the landlord and using it for serviced accommodation. We then found some properties in Cheltenham that we could do that with and we went from there.
- How critical do you think networking is to build your property business?
- It is absolutely essential. I met my business partner Andrew through networking, we took on his SA units. Then through other networking events, I’ve met others, the four of us are now in a partnership where we’re doing a six house new build. It is absolutely imperative. Two of my deals now are off-market deals, because of my contacts through networking.
- What are your plans going forward?
- To be honest, it is more of the same. Our services accommodation is up and running, we have systemized a lot of that so I don’t spend much time with that. I do the commercial conversion side and development side and the next 12 months, is just more and more of the same. We want to take on more SA units, we want to take on more commercial conversions some used for services accommodation and some used as starter homes.
- Why is the progressive property community so helpful?
- Coming from the commercial world where everybody is out for themselves, I couldn’t believe how helpful people were in the property industry. I think it stems from whoever started doing property in the past, they had been successful, decided to help some people out and decided to pay it forward and it built into this massive community. The market for property is so vast, there are hundreds and thousands of houses. There is enough out there for everyone and I think the property communityrealisethat and want to help.
- What are your top tips for people who are interested in getting into property?
- Think about what it is that you want to achieve.
- Think about how you are going to achieve it.
- Start going networking and find people willing to help you.
- Get the education to make sure you are doing it properly. Attending progressive property events to help gain knowledge of the industry.
- Take action to implement. Join the VIP programme which will help keep you accountable.
- What do you say to people wondering if they are capable of being successful in property?
- I would say ‘Yes you can be successful’, one thing I have learned is that you can achieve a lot of stuff, not necessarily straight away, but it is a simple process that you just need to follow.
BEST MOMENTS
“I was always under the impression that you needed to have money to do property”
“Sometimes it's the deals you don’t do that make you the money as well”
“Networking is absolutely imperative”
VALUABLE RESOURCES
https://www.amazon.co.uk/No-Money-Down-Property-Investing/dp/1909846767
https://www.youtube.com/watch?v=o8TZdualhcw
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.
ABOUT THE GUEST
Dan Eaton is a Property Developer and Serviced Accommodation Provider. Dan, a former Royal Navy communicator then corporate world project manager, started in property in 2017 and has transformed his life through Serviced Accommodation, building a portfolio for himself and his investors and winning the Progressive Property VIP of the year award 2018.
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