The Progressive Property Podcast

In this podcast, the hosts discuss the recent decline in house prices and the opportunities it presents for property investors. They explain the importance of understanding mortgage stress tests and the internal coverage rate when considering interest rates. They also analyze the current state of the UK property market and provide insights on affordability levels. The podcast concludes with discussions on new legislation, predictions for the Bank of England meeting, and the opportunity for further education through the Progressive Property YouTube channel.

Kev gives his thoughts on the current report put out by the Renters Reform Coalition. He discusses their claims that landlords are responsible for the shortage of housing and talks about how the government could actually help solve the housing crisis instead. KEY TAKEAWAYS  Many landlords wouldn’t have benefitted from the rises between the 1990s and now. You can’t compare the value of a house in the 90s to now, it’s not comparable. The government are responsible for building council homes, not landlords. Help to buy isn’t a good solution for the housing crisis, it benefits developers and helps them sell whilst putting buyers in more debt. Landlords have no choice but to put the rents up, this is an economic issue caused by the government, it’s inflation. There are many properties out there that could be put back into use, providing new homes for people but also jobs as they are refurbished. BEST MOMENTS   “All homeowners have had their values go up too, it’s a bit one-sided” “Are landlords responsible for the housing crisis?” “Help to buy is not the answer” “If that property value goes up, they hit you going out the door with your inheritance tax, the death tax” VALUABLE RESOURCES MSOPI – Multiple Streams of Income: https://www.progressiveproperty.co.uk https://kevinmcdonnell.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/ https://kevinmcdonnell.co.uk/ 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/Progpertyprogressive, property, investing, rent, housing, buy to lets, serviced accomodation, block, auction, home, financial freedom, recurring income, tax, mortgage, assets: http://progressiveproperty.co.uk/

Kev is interviewed by MJ, who is doing a dissertation around AI and wants to quiz Kev on what he thinks the impact will be on the property world. They talk about the real-life implications and applications of AI and VR including relationships with clients, costs and convenience. KEY TAKEAWAYS  VR and AI present a unique opportunity to build better relationships. There will be huge time savings to be had once AI has been established within a workflow. Virtual reality means that staff and people other than the landlords can review accommodation, sending the recording to the landlord to review at their convenience. Communication is essential if AI and VR are to work in any industry, individuals and companies need to be educated with realistic expectations. MJ believes that real estate agents haven’t been told or educated about why and how AI and VR could work for them. You don’t have a business unless you have happy customers, if you can make your customers happier then you can generate more income, Kev would want AI or VR to aid in this. BEST MOMENTS   “I’m really excited about this and also really scared” “Relationship building is important between a real estate agent and a customer” “Any relationship starts with trust in the first place” “Would you buy a house on the back of a virtual reality tour?” “You know way more about the technology than the actual client that would be using it” “If you want to sell me on virtual reality you need to sell me the benefits not ask me why I would use it” VALUABLE RESOURCES MSOPI – Multiple Streams of Income: https://www.progressiveproperty.co.uk https://kevinmcdonnell.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/ https://kevinmcdonnell.co.uk/ 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/Progpertyprogressive, property, investing, rent, housing, buy to lets, serviced accomodation, block, auction, home, financial freedom, recurring income, tax, mortgage, assets: http://progressiveproperty.co.uk/

Toni talks about what is happening in the property market right now including housing prices becoming more affordable, the student market as well as an update on EPCs and why knowing what is happening in your community is essential.  KEY TAKEAWAYS  What has happened in the past year has skewed the property market, things may seem more affordable now but only because they have been so inflated. A drop in the housing stock in the market doesn’t mean there won’t be property available for you to take on, many landlords are exiting properties for a variety of reasons, and there are many opportunities to be taken. The average salary of 33k in the UK means single people are being priced out of buying a house, which presents opportunities for the rental market. Student lets is a part of the property sector that is growing dramatically and it isn’t too late to get started, it’s projected to keep growing at a high rate. You need to get your communities on side as a property developer, this will only help you with the planning stages. BEST MOMENTS   “This is a huge opportunity for you to be doing some more direct-to-vendor marketing, identifying the potential challenges and highlight the win-win situations” “If properties are more affordable than they were a year ago the educated people are the ones winning in this instance” “Student lets, definitely something to keep your eye on” “It’s really important that you know what’s happening in your communities” VALUABLE RESOURCES MSOPI – Multiple Streams of Income: https://www.progressiveproperty.co.uk https://kevinmcdonnell.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/ https://kevinmcdonnell.co.uk/ 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/Progpertyprogressive, property, investing, rent, housing, buy to lets, serviced accomodation, block, auction, home, financial freedom, recurring income, tax, mortgage, assets: http://progressiveproperty.co.uk/

Nick Thorpe has been a mentor with the Progressive Academy for 8 years, having sourced over 450 properties of his own and building and exiting multiple businesses. Nick joins Toni to talk about the multiple property strategies he has used over the years, his biggest challenges and why he settled into the sector of student accommodation. KEY TAKEAWAYS  One of Nick’s most challenging projects was his first development, converting properties in Brighton into HMO. He was living in Leeds at the time so it was difficult to project manage from a distance, especially with some of the difficulties he faced and he only broke even. Nick has also partnered with the wrong people previously which has caused him to lose money. Nick noticed that there were many student landlords in his area that had been doing the same thing year in and year out so he decided to disrupt the space, bringing in more aesthetically pleasing options in great locations. Bringing people in-house to help with his projects is something Nick has replicated across all his property investments. Having the right location is essential for student lets. You need to understand what’s important to students specifically, such as good wifi and local amenities. BEST MOMENTS   “You had an intention and you built a business around it” “It really worked that was the niche, I could make it look very good and at a decent cost” “That’s the standard now, but it wasn’t then” “There are accommodation shortages according to UCAS” “Literally find out what people want and give it to them” VALUABLE RESOURCES MSOPI – Multiple Streams of Income: https://www.progressiveproperty.co.uk https://kevinmcdonnell.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/ https://kevinmcdonnell.co.uk/ 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/Progpertyprogressive, property, investing, rent, housing, buy to lets, serviced accomodation, block, auction, home, financial freedom, recurring income, tax, mortgage, assets: http://progressiveproperty.co.uk/

Kevin is joined by Carole Neales in this episode to talk about the 240 units she has built in just 6 years. Carole came to Progressive in 2015 and started her journey properly in 2017 and talks to Kev about how Progressive helped her and what she has learnt since attending Progressive Property courses. Carole also talks in-depth about her unique property portfolio in social housing. KEY TAKEAWAYS  Carole works with charities and supports many people through her property portfolio as the units she manages are social housing. Working in the hotel business as well as events means that Carole had always worked in customer-facing roles, she likes people and her favourite thing is talking! After seeing vulnerable children and having empathy for those struggling financially, Carole wanted to do something she could help society whilst also making good investments. Most landlords aren’t bad people, they want to help people. Bad tenants come from all walks of life. Carole doesn’t believe she has had any more issues with damage and rent arrears with her social tenants than private landlords would get. BEST MOMENTS   ‘Everything we do whether it’s needed or not we make sure is HMO compliant as there’s always going to be more than 2 people in the property’ ‘Some of us are quick to judge people that have fallen on hard time’ ‘Landlords are really great’ ‘Because I work with them so closely, I get preferential rate’ VALUABLE RESOURCES MSOPI – Multiple Streams of Income: https://www.progressiveproperty.co.uk https://kevinmcdonnell.co.uk ABOUT THE GUEST Carole Neales Director Clearwater Property Partners carole@clearwaterpropertypartners.com 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/ https://kevinmcdonnell.co.uk/ 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/Progpertyprogressive, property, investing, rent, housing, buy to lets, serviced accomodation, block, auction, home, financial freedom, recurring income, tax, mortgage, assets: http://progressiveproperty.co.uk/

Mark Homer talk about what’s happening in the news right now in regards to residential property investment and gives an update on what we are seeing in the marketplace too. KEY TAKEAWAYS  House prices have dropped 3-4% across the country. We aren’t seeing a big increase in repossessions as some might have expected. There are 110k people coming off fixed-rate mortgages a month right now Lenders have had pressure put on them by the government to switch people to interest-only mortgages to help with affordability. There are a lot of new permitted development rights going through consultation right now which could be transformative for anyone looking to convert buildings into residential use. Betting offices, and payday loans will be within the permitted benefit scheme under new changes for redevelopment. There is a collaboration between the government and a property steering committee to get property digitalised, creating less friction, speed and transforming the industry. BEST MOMENTS   “You can imagine these interest rate rises are going to bite and decrease their spending elsewhere” “This is quite different to what we saw in the late 80s and because of that repossessions are still very, very low” “House prices have probably dropped 10-15% in many areas” “ VALUABLE RESOURCES MSOPI – Multiple Streams of Income: https://www.progressiveproperty.co.uk https://kevinmcdonnell.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/ https://kevinmcdonnell.co.uk/ 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/Progpertyprogressive, property, investing, rent, housing, buy to lets, serviced accomodation, block, auction, home, financial freedom, recurring income, tax, mortgage, assets: http://progressiveproperty.co.uk/

Kevin shares some of his YouTube content in this episode, to help you in your property journey and save you from making mistakes. Kevin explores the topic of freehold -vs- leasehold properties, whether you should invest in either or both and outlines the key differences you need to be aware of as a property investor. KEY TAKEAWAYS  When you buy a freehold it means you are buying the property and the land it is on. With a leasehold, you lease the land. This means as well as a mortgage to pay you also have service charges. With leasehold, you may be expected to pay for things that are external as well as internal, anything external is a joint responsibility between you and the leaseholder. Short leases, under 75 years, are hard to mortgage and start to devalue. You can get creative with leasehold properties and make money in ways you can’t do with freehold. You need to be the expert and work out your profit yourself, make sure you always include additional fees, estate agents might not include these. BEST MOMENTS   “As long as that mortgage is paid, that freehold property is yours” “Leasehold properties are typically, blocks of flats” “When you buy a leasehold property make sure you know what you’re buying” “The benefits far outweigh owning freehold property because it is always yours” “Be very careful of leasehold property, where you do your numbers wrong!” VALUABLE RESOURCES MSOPI – Multiple Streams of Income: https://www.progressiveproperty.co.uk https://kevinmcdonnell.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/ https://kevinmcdonnell.co.uk/ 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/Progpertyprogressive, property, investing, rent, housing, buy to lets, serviced accomodation, block, auction, home, financial freedom, recurring income, tax, mortgage, assets: http://progressiveproperty.co.uk/

Toni and Emerald join the podcast to talk about Michael Goves’s housing crisis speech, the pressure on housing prices in the South of England and whether buy to let is now dead. KEY TAKEAWAYS  House prices dropping can present some unique opportunities for investors so don't be frightened by headlines. Average house prices are now falling on a yearly basis in most places in the UK -vs- the last two or three years. However in Yorkshire, Midlands and Northern Ireland they have actually increased. Sales are half of what they were this time last year but last year we were still in a bubble, Toni believes the market is simply correcting itself. The government needs to support landlords, they play a critical role in plugging the housing shortage gap but instead, they keep bringing in more regs and rules to punish them. The government need to take some ownership of the current situation. BEST MOMENTS   “It’s the largest year-on-year decrease since 2011” “We like that Forbes tells you one thing on one page and something totally different on the next” “What goes up must come down” “The asking price is irrelevant as it’s usually been created by over-enthusiastic estate agents” VALUABLE RESOURCES MSOPI – Multiple Streams of Income: https://www.progressiveproperty.co.uk https://kevinmcdonnell.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.  progressive, property, investing, rent, housing, buy to lets, serviced accomodation, block, auction, home, financial freedom, recurring income, tax, mortgage, assets: http://progressiveproperty.co.uk/

What exactly is inflation and why is it important to us as the general public but also as property investors? Kev explores these questions and gives straight forward, unbiased, and honest answers and talks about the real reasons why more billionaires are created in a crash than at any other time. KEY TAKEAWAYS  The measuring of inflation isn’t always that accurate. It’s not just about the goods you buy in a supermarket but everything in the economy that requires currency to exchange hands. In the past couple of years wages are simply not high enough to keep up with inflation, even the government is looking at increasing public sector wages by 6%, which is still way below the rate of inflation. Right now you can enter the property market for less, there are unique opportunities out there for investors. Buy to let investors have always had to buy with a higher deposit, if you have the cash you can invest as long as you stress test yourself. Property prices are going to come down, there will be many repossessions including rental properties. The amateur investors who overleveraged and did not plan will be the ones who suffer. It’s the ones that need to sell and that you can help where you will make money. BEST MOMENTS   “Inflation is simply the buying power of money” “Does increasing interest rates help solve the inflation problem? Yes to a point but not like it used to” “Will every landlord have future proffed their portfolio like I did? Absolutely not” “More billionaires are created in a crash than any other time” VALUABLE RESOURCES MSOPI – Multiple Streams of Income: https://www.progressiveproperty.co.uk https://kevinmcdonnell.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/ https://kevinmcdonnell.co.uk/ 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/Progpertyprogressive, property, investing, rent, housing, buy to lets, serviced accomodation, block, auction, home, financial freedom, recurring income, tax, mortgage, assets: http://progressiveproperty.co.uk/