The Progressive Property Podcast

Discover the top tips for refinancing your property, the dos, and don’ts of property, how to attract JV partners and the risks of refinancing with a mortgage. Tune in to learn how to maximise your profits and build your portfolio with the right property refinancing.KEY TAKEAWAYS: -You could purchase the property using yours or your JV partner’s cash, by borrowing money or by taking out a mortgage using a deposit. - There are some risks of refinancing with a mortgage. If you buy a property with a mortgage from a bank and you put down a deposit of 25% and have the remaining mortgage of 75% with the bank. If in six months’ time, you go to refinance that property with the same bank it is most likely that the bank will not value the property any higher than they gave you six months earlier. -What some people may risk doing, is to buy a property with a mortgage from one bank do a small refurb, six months’ time refinance with a different bank than who the initial mortgage was taken out with. That can work in terms of the refinance, but you run the risk of getting blacklisted by the first bank. - Mortgage lenders like to see you keeping the product with them. Therefore the smart and professional thing to do is to use cash or a loan to purchase the property, do the work and then six months later, refinance onto your first mortgage product, rather than moving from one lender to another. - When applying for a mortgage, it is vital that you get a mortgage broker. They are able to get approval done that you would otherwise not be able to get yourself. They have good relationships with certain lenders and know what sort of things that you need to have included in your application for the lenders to say yes to your loan. - When choosing a mortgage broker, it is important to choose one that understands buy to let property. It is important that you stick to the same broker, don’t mix and match every few months. - When the valuer turns up to value the property. Do not try and tell them what you think it is worth, however there are a number of things you can do to help you get the valuation to what you are looking for. Get pictures of the property before you do any refurbishments. Get pictures of the property in its worst possible condition. Get pictures the day the valuer comes to see the house.   - This can help you to show them how you have added money from the purchase price. You showing his pictures from six months to today is one of the most important ways for you to help him come to  realize that the value is higher.  - Give them a copy of the tenancy agreement. He will base his valuation on a percentage of the rental income that you’re achieving for that property. - Include a schedule of the works that you have done to the property since you purchased it to show that there have been a lot of things done since you bought the house that have added value. -Look for properties online that have sold with a higher comparable as you’re looking for as a value for yours.                 BEST MOMENTS “The mortgage broker earns there money for you”   “How is this property worth more money today than it was six months ago?”   VALUABLE RESOURCES https://www.amazon.co.uk/No-Money-Down-Property-Investing/dp/1909846767 https://www.youtube.com/watch?v=o8TZdualhcw https://robmoore.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/ http://progressiveproperty.co.uk/ progressive, property, investing, rent, housing, buy to lets, serviced accomodation, block, auction, home, financial freedom, recurring income, tax, mortgage, assets: http://progressiveproperty.co.uk/

Kevin McDonnell talks us through the Dos and Don’ts of successful networking. Networking events can be daunting and can be unsuccessful and time-consuming if you don’t make that unforgettable first impression! Tune in today to find out how you can grow your network, make a lasting impression, attract JV partners and property investors and ensure that every networking event is a success!   KEY TAKEAWAYS  Where Can You Network?  There are many places you can go to network. Progressive property run about 40 property networking events all over the country, meaning it is likely there will be a PPN event near you. However, it is not only about networking events, but it is also a great idea to attend business networking events both locally and in different parts of the country. Have in your networking plan, to attend other types of events as well as events in other locations around the UK and the rest of the world that can help build your power team.     What To Do At Networking Events?   Have a clear plan before you attend, don’t just attend a networking event to listen to guest speakers. You should be bringing business cards to the events, you need to have a way that you can capture people's attention. As well as handing out your business cards, make sure you collect other people's contact details.     You want to be listening to others, more than you are speaking about yourself. Learn a little bit about people, keeping your eyes and ears open to find the person who is looking to invest.     If you do get the chance to tell people a little bit about yourself, keep it to a minimum and have what's called an ‘Elevator Pitch’, practice this at home before you attend. Focus your pitch on the features and benefits of working with you.     Make a list of people you need to help fulfill your power team, and go to the networking events to specifically source these people.     -A key part of attending networking events is the number of people you speak to. You don’t need to spend the entire event talking to just one or two people, you will be missing out on speaking to the majority of people at the event. The main goal of each networking event you attend should be to collect as many people’s contact details as possible.     Dress well when you attend a networking event. Don’t give people the opportunity to have a negative impression of you based on the way that you present yourself.     Give people the opportunity to talk about themselves, only speak about yourself if you’re asked. Ask them, how you can help them and what they’re looking for that can be mutually beneficial. Do not try to sell them things within the first few moments of meeting them.         BEST MOMENTS  “If you really want to scale your networking business, if you want to do a lot of property deals, then you’re going to need the help of other people”  “A wise person once said, ‘you’ve got two ears and one mouth, you should move them in the proportion”     “People want to work with people that they know, like and trust”    VALUABLE RESOURCES   https://www.amazon.co.uk/No-Money-Down-Property-Investing/dp/1909846767   https://www.youtube.com/watch?v=o8TZdualhcw   https://robmoore.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/  http://progressiveproperty.co.uk/  progressive, property, investing, rent, housing, buy to lets, serviced accomodation, block, auction, home, financial freedom, recurring income, tax, mortgage, assets: http://progressiveproperty.co.uk/

In today’s episode, property expert Kevin McDonnell takes us on a trip down memory lane as he looks back on some of his biggest failures in the property industry and gives us his expert advice on how you can avoid making these mistakes yourself! Don’t miss Kevins expert advice on how you can become a success in property! KEY TAKEAWAYS 6 Biggest Property Failures- Investing Abroad- Don’t buy off-plan property. You are buying something that might go up, or down in value. You’re also purchasing something that might not even get built, there is no real guarantee, and whilst you are waiting for the build to be complete you are not making any money from the property. Purchase property in an area you are familiar with that can make you money instantly and whereby you are familiar with the tax and property laws.   Doing All Your Own Refurbs- This takes up far too much time which can stop you from looking for more property investment deals. The standard of work was also not up to the standards of professional tradesmen, meaning a few years later the poor workmanship will have to be redone. Tying to do those refurbs yourself, will cost you more time and more money.   Waiting Too Long Before Quitting Your Job- Just commit and get out, because quitting your job will allow you to focus more on property and your results will have scaled massively once leaving your job, allowing the freedom and mind space to really focus on scaling your property business.   Waiting Too Long To Hire Staff- Where in your business can you add income? Where can you put money into your business? Things such as speaking to joint venture partners, people who want to invest money into your business, negotiating property purchases or contracts on rent to rents with homeowners, that is where your focus should be. Outsource all the other tasks to staff such as property management, speaking to the tenant, maintenance inspections, all of the tasks that are time-consuming but don’t generate income but rather take money from the business.   Not Having A Clear System To Check Staff’s Work- Hiring any staff comes with an element of trust, and sometimes in fast-growing businesses you can end up leaving staff to get on with their job whilst your focus is on other things. This could potentially result in foul play from your staff as they feel like they are able to get away with things easier as they are not being monitored. Create a system whereby this is not possible. Check your properties out, check your own staff out and make sure that what’s being said is the reality.   Not Hiring A Project Manager- A project manager will hire the entire refurb team to avoid any miscommunications between different tradespeople. If possible, make somebody you know or are familiar with and that you trust your project manager who can get the job delivered on time. Them being responsible for the project means that there's no way there can be any excuses or tension between the rest of the team.         BEST MOMENTS “Mistakes are a part of life”   “You only have to be right 51% of the time”   “The richest people on this planet have made many mistakes”   VALUABLE RESOURCES https://www.amazon.co.uk/No-Money-Down-Property-Investing/dp/1909846767 https://www.youtube.com/watch?v=o8TZdualhcw https://robmoore.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/ http://progressiveproperty.co.uk/ progressive, property, investing, rent, housing, buy to lets, serviced accomodation, block, auction, home, financial freedom, recurring income, tax, mortgage, assets: http://progressiveproperty.co.uk/

“The only way you fail in property is if you quit” Kevin started his property journey in 2003 and after the first 11 years was over £100,000 in debt. Since getting educated in 2014, he has built up a multi-million-pound property business with a cashflow of over £11,000 per month, lets over 200 rooms, owns over 30 single-let properties and is a speaker, trainer and mentor for Progressive Property. Today, Kevin shares with you his journey into propety, the struggles and the successes, tune in to discover how Kevin managed to build a multi-million-pound portfolio with none of his own money.   KEY TAKEAWAYS   First interest in property in the late 1990s when studying quality management at University. Discovered that becoming a landlord and property investor could be a full-time job.   2002 moved to London to work for Laing O’Rourke and began living in shared accommodation with work colleagues and began discussing property. As a result, Kevin Attended a 3-day property seminar in London realised he wanted to do property full-time.   In 2004 Kevin attended the Property Investors Show in London and was attracted to off-plan properties abroad (Estonia, Turkey, Bulgaria). At the time Kevin didn’t know how to creatively purchase properties without deposits. Unfortunately, Kevin wasn’t familiar with these areas and in 2007 when the crash came Kevin lost all of the money overall loosing £135,000 plus interest on the loans taken out to purchase them and the properties were never built. For a while Kevin forgot about property, working harder in his job to pay off his debts.   In 2009, Kevin moved to Nottinghamshire as a quality manager and forgot about property. Then in 2013, Kevin was contacted by Progressive Property offering him tickets to the Property SuperConference at Wembley. Attending the event Kevin was inspired by the speakers on stage, all of which had been in debt, just like Kevin. It was then Kevin decided property could work for him.   In 2014, at the Property SuperConference Kevin invested in a number of training courses with Progressive and began with creative strategies such as Rent2Rent, lease options and started to build a portfolio local to him that he knew. Kevin rented one property which he lived in and rented the rooms out to other tenants (HMO) and met his now wife as a result. Kevin continued his creative strategies renting another property with an option to buy and backfilled his rent2rent property portfolio with tenants to cover the rent and generate a profit. Kevin was essentially living for free and building up cashflow to replace his income.   In 2016 Kevin left his job and become a full-time property investor.   In 2017 Kevin was asked by Progressive Property to run some training on how he build his portfolio without any money. This is where No Money Down, Rent2Rent, Lease Options and the No Money Down matrix was formed. Kevin also formed JV partnerships and now has 11 companies focussed on property as an individual and as a partner.   Kevin now lets over 200 rooms and owns or has a stake in over 30 single let properties that are either owned or controlled by creative Rent2Rent strategies or lease options.   In 2017 Kevin set up a lettings agent to help manage his time and look after his property portfolio. This has now been scaled as a business by itself to break even and additionally save Kevin time and money to do other things. The first 11 years in property Kevin built a debt of over £100,000. Since 2014 and training with Progressive, Kevin has built up a multi-million property business with a cashflow of over £11,000 per month and has an aim of one property deal per month.   BEST MOMENTS “Always take positive steps towards success” “The only way you fail in property is if you quit” “Invest locally” “I buried my head in the sand and worked harder to pay off my property debts” “I thought I needed deposits to secure property deals” “I’d decided I want to do property full-time” “Property is the one thing that as made more millionaires and billionaires than anything else” “People have either made their money in property or have invested their money in property”   VALUABLE RESOURCES https://www.amazon.co.uk/No-Money-Down-Property-Investing/dp/1909846767   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/ http://progressiveproperty.co.uk/progressive, property, investing, rent, housing, buy to lets, serviced accomodation, block, auction, home, financial freedom, recurring income, tax, mortgage, assets: http://progressiveproperty.co.uk/

2020 is going to be a huge year in property? But are you prepared? and what are your plans? In today’s episode of The Progressive Property Podcast, Kevin McDonnell shares his guidelines for a bumper year in property. Discover how to scale your business, find new joint-venture partners and make a fortune through property in 2020.   KEY TAKEAWAYS  What’s your plan? What's your property plan? Where are you going with your business this year?  When you have the best year businesswise, you should know that you also had a bad year because great achievements come with great challenges. As you plan on how to be successful in your business, you should also prepare and be ready for any challenge that will come your way.  Challenges like staffing should be dealt with when they arise because these are the people that you need to trust with your business that they will do their best to keep your business up and running and also profitable. You can’t do that while you are having this issue; make some staffing changes to suit you and your business if you want to scale up your business in 2020.  In the year 2020, make an effort of having a joint venture partner because there's plenty of opportunities that arise when you are in a joint venture with someone and there are lots of benefits that you get to enjoy such as, in case any risk occurs in your business, you are both liable, in case of a loss, you both share the losses, you get to make well-informed decisions in your business because you get to consult your partner and many others.  When you have more money in your bank account, don't let the money stays in the bank because you will not earn anything while it's still in the bank, take a step of lending it to other investors so that they can also do some more investments with it and you get a return on your money in terms of interests. With this, your year 2020 will be a year of more success.  The last crash was what 2006, 2007, 2008, we're at 12 years into the property cycle now, there is likely going to be another crash in the next decade, in the 2020s at some point, there's likely to be a crash. You got to be prepared for that crash and ready for the crash. Don’t be mistaken, it's coming. It's about being ready for when it does come.  Scaling the rent to rent business should be a big part of your plan in 2020 so you can build cash flow to get ready and cash-rich for when the next crash comes because letting agents are struggling at the moment a lot across the country   In 2020, buy, refurbish, refinance or lease option, refurbish refinance or taking control of other people's properties, refurbishing them, refinancing them. Good opportunity to build, rent rental value that cash flow, but the lease option and the buy to refurbish refinance, that's about the long term legacy, the long term wealth.  You should have your businesses this year and be sure that your businesses are profitable and self-funding because you do not want to have a business where instead of it giving you money, you are the one who is getting into your pocket and getting it the money. Make sure that all your businesses are profitable.  How do you raise 5 million pounds in property? The key part of raising 5 million pounds is you need to be known, people need to know you exist, people need to know you do property.  In your plan, apart from just finding houses, you've got to have a plan of how you are going to attract and meet more people. What networking events are you attending? How often are you posting on social media? How many people are you contacting and speaking to every week? By doing this, you’ll attract more opportunities.  BEST MOMENTS  “If you don't ask you don't get.”  “There's going to be a lot of opportunities out there with Brexit, the uncertainty in the marketplace comes with a massive opportunity.”  “For your business to succeed, people need to know you exist.”  “There's no point in working hard and not getting to enjoy the fruits of your labour.”  “Make sure you find time for doing the things that you want to do in your life because you don’t know how long you got.”  “What’s the business and the money for, it’s for you and for the things that mean the most to you.”  VALUABLE RESOURCES  http://progressiveproperty.co.uk/   ABOUT THE HOST  Kevin McDonnell is a Speaker, Author, Mentor and 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/   http://progressiveproperty.co.uk/   progressive, property, investing, rent, housing, buy to lets, serviced accomodation, block, auction, home, financial freedom, recurring income, tax, mortgage, assets: http://progressiveproperty.co.uk/

Do you want 2020 to be your year in property? Do you want In today’s episode Progressive Property Co-founder, Commercial Conversion expert and best-selling Author, Mark Homer joins the show to bring you his 2020 Property Predictions. Tune in to the opportunities, threats and challenges 2020 will bring. Mark covers everything from BREXIT to interest rates and from property prices to supply and demand. It doesn’t matter if you’re a beginner and a pro, this episode is for you. KEY TAKEAWAYS   2020 Property Predictions Since 2016 we’ve had large central London price falls of up to 25-30% but Central London has now reached the bottom of the price falls and we may seem some growth in residential house prices in 2020 and beyond. The risk has come out of them and the future looks bright in those parts London. Since the election has happened there is a lot more certainty in the market and investors are more positive. Confidence will gradually lift through 2020 with a better Brexit negotiating stance. Looking at GDP and the purchasing managers index the UK is looking to head on an upward trajectory. Over the past 3 years, we’ve seen a sustained attack on residential landlords form the government with stamp duty increases, surcharges, section 24 and other issues putting a lot of landlords off buying properties. As a result, professional landlords have been buying the smaller properties accidental landlords have been selling meaning there is now less supply on the residential market. If there are less supply and demand remains the same you may see residential prices rise in 2020. If you’ve got the right strategy and you understand the regulations there is an opportunity to navigate the property market and purchase the properties smaller landlords are selling and make a profit. We’re not in a recession, GDP is increasing and we’re still growing but 2020 is not going to be a ‘bumper’ year with a lack of investment in the UK due to the political uncertainty. As a result, the Bank Of England needs to continue to generate demand and therefore interest rates are likely to remain flat and perhaps unchanged in 2020. Towards the end of 2020, we will see some the change in sentiment will start to reflect on the banks as we move into the ‘roaring twenties’ this could be a golden few years. The banks could become more aggressive, the yield curve has moved from invested to in-form and this all indicates that a recession is less likely and money markets will become freer. As a result, banks will lend at lower rates and higher loan to values. We could see 95% mortgages in buy-to-let, investment loans and development loans, just as we’ve seen with residential mortgages since the last recession.   BEST MOMENTS “Small one bed flat yields have been rising since the Brexit vote” “Since the election has happened there is a lot more certainty in the market and investors are more positive” “The property investing backdrop is looking more certain” “As we get closer to the Brexit deadline the media will ramp up the fear” “Section 21 could mean you could evict tenants for any reason” “There is lots of stuff reducing the supply of properties available to let and therefore residential prices may increase” “Focus like a laser one thing and become the best at it” “2020 could be very could for all bank lending”   VALUABLE RESOURCES   ABOUT THE HOST David is a property expert with over 25 years’ experience and his own portfolio of 26 units. His current rent roll is in excess of £10k per month. He is also a partner in a Deal Sourcing and Packaging business in the North West of England and has sourced over 250 properties for investors since 2004.   In recent years he has, by necessity, had to develop an expertise in LHA strategies. This area is increasingly becoming a niche for him, and he enjoys empowering other landlords by sharing the knowledge he has gained.   The ultimate purpose when sourcing properties in this sector for investors is to minimise risk while maximising profit. He has had to find answers to the challenges of Tenant Find, Management, ensuring rents are paid and the transition to Universal Credit. These are strategies he uses in his own business and also on behalf of investors. His investor clients regularly achieve annual gross yields of over 20% with high occupancy rates and voids resolved, sometimes within hours.   CONTACT METHOD https://www.linkedin.com/in/david-siegler-7b126316/ https://www.facebook.com/DavidSieglerInvestments/  http://progressiveproperty.co.uk/   ABOUT THE GUESTMark Homer is an entrepreneur investor.  He has worked with investment since he was 15 years old using the laws of wealth! He is a spreadsheet analyst with an impressive following from major publications including BBC Radio, The Wall Street Journal, The Independent, and co-authoring the UK’s best-selling property books.  Mark has always looked for the best investment vehicle, and at the end of 2007 with Rob Moore the co-founder of Progressive Property his joint portfolio produced more profit than any of the other investments he’d tried in the last ten years, combined.   CONTACT METHOD Email: Markhomer@progressiveproperty.co.uk LinkedIn: https://www.linkedin.com/in/markhomer1 Facebook: https://www.facebook.com/markprogressive Twitter: https://twitter.com/markprogressiveprogressive, property, investing, rent, housing, buy to lets, serviced accomodation, block, auction, home, financial freedom, recurring income, tax, mortgage, assets: http://progressiveproperty.co.uk/

Want to make 2020 the year of financial freedom? Is it finally time for you to live the property investor life you’ve been dreaming of for years? Tune into today’s podcast where property expert Kevin McDonell shares his 7 top tips that will make 2020 your year! Today, Kevin shares some motivational advice that will help you achieve your full potential and turn you into the successor you’ve been dreaming of, so listen in today and make 2020 the best year yet. KEY TAKEAWAYS 7 things to make 2020 your year.   Mindset: mindset is key. Whatever it is you want to achieve, it all starts with belief. The starting point is believing in yourself and your success. If one person in your town can be successful in property then why can’t you? You don’t need to know everything to start, you just need to start and the rest will happen.   Knowledge: Once you have the mindset that you can do this, you need to make sure you have the right specialist knowledge. You need to have not just knowledge of a strategy, but knowledge of your area. You need to know about tax, systems, builders and letting agents. It is not only about acquiring this new-found knowledge but using it to move forward.   Time: You need to invest time into property in 2020. You need to prioritise your time. Try writing down everything you’re doing with your time over a 7 day period and you will find you’re wasting loads of time. If you can allocate 1 hour a day, 7 days a week you can move your business forward. Put the time into making your success and you can’t fail.   Money: You do need money to be involved in property however, It doesn’t have to be your money. Even if you’re doing a no money down deal, there is still invisible money involved such as the property value or borrowed money. You need to be able to access money from various sources when money is needed. Attend networking events, local, national or international events in order to grow your property business.   Clear Goals: Each year before the new year approaches, you should write down clear goals for where you want to take your business in the following year. You need to do this before you end up too far into the new year and direction is lost. Make sure your goals are clear and structures. Follow a 6 step concept with your goals: Smart Specific Measurable Achievable Realistic Time Bound Take some time to write out the clear goals that are specific to you, and implement them do the steps to make sure that you achieve them.   Willingness to accept rejection: There is not a single successful person on this planet that has not been rejected. Many people expect to get their first big deal and become a success within the first few months, it is not always that simple. Whilst it is a step by step simple process, it needs a lot of work. You need to be willing to understand that rejection is part of the journey, and it is part of the success. Do not let rejection stop you from moving forward. Accountability: Many people think that they are able to do property alone. The reality is, that you can’t. Get yourself a mentor and your results will completely change. You need to be working alongside and be accountable to someone who has walked that road before you, who tells you ‘you are not thinking big enough’ and ‘you can do this’. Somebody who gives you actions to take, otherwise life gets in the way. Prioritize your property journey as number 1. You need accountability from different places if you really want to get your business to where you want it to be.   BEST MOMENTS “You don’t need to see the whole staircase, you just need to take the first step” “Richard Branson has the same amount of time as us and he has over 400 companies he’s involved in” “Don’t try and run before you can walk” “You don’t need to be perfect to get started, but you do need to start to get perfect” “You’ve got to earn your stripes” VALUABLE RESOURCES https://www.amazon.co.uk/No-Money-Down-Property-Investing/dp/1909846767 https://www.youtube.com/watch?v=o8TZdualhcw https://robmoore.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/ http://progressiveproperty.co.uk/ progressive, property, investing, rent, housing, buy to lets, serviced accomodation, block, auction, home, financial freedom, recurring income, tax, mortgage, assets: http://progressiveproperty.co.uk/

Thinking of investing in a property but not sure what red flags to look out for? Well look no further, in today's podcast property expert Kevin Mcdonell tells you the warning signs to look out for on your viewing to avoid those unwanted costs! He shares with you his essential checklist to take on every viewing which will get you the best property deal and maximize your profit! Don’t miss this exclusive advice which will help you reach your property inventing potential! KEY TAKEAWAYS When investing in property there are many things you need to, viewing the property, analysing the deal, etc. surround yourself with experts when it comes to the building work. They will understand how to break down the costings of specifics.   It may not be possible to bring a builder with you on your first viewing. View The property by yourself first, and if it is a property you wish to proceed with then take an expert with you on your second viewing. They will be able to tell you about things that you may have overlooked or not thought about on your first viewing but they are important things for you to know.   Tradesmen work on problem properties each day. Having them as part of your power team allows then to identify problems before you go ahead with the deal and save you a significant amount of time and money.   Where to start when viewing a property for the first time? Park away from the property, down the street and analyze the type of area your potential property is in, allowing you to think about who your possible future tenant would be. Cross the road to take in a full view of your property, look outside for any potential structural issues with the property, as well as specifically comparing the roof of the property you are viewing with the other properties along the street. Walk around the perimeter of the property paying particular attention to the brickwork and any potential issues of damp. Enter into the property and in each room, you go into you will need to look at the ceiling, the floor, and all four walls. Look out for any red flags such as damp, loose floorboards, and plastering problems. A good idea would be to purchase a damp meter to take along to viewings. If you do encounter some current or rising damp during your viewing, a good idea is to get a builder to come along for your next viewing to give you a quote on what this could cost you in the future. Have a look around each wall of the property, keeping an eye out for cracks in the walls. You will almost always encounter some hairline cracks, but you are looking for larger cracks meaning you could have some structural issues. Take note of the doors in the property, do they close properly? Open and close each door to make sure it closes and latches properly. Take a look at the windows. Are the double or single glazed? Are there signs that they may be slightly dated? What material are they? Coming to the bathroom. Make sure you run the water (also do this with the kitchen), check the pressure and the temperature. Looking at the boiler is critical, how do I know if it’s a good boiler? Take a picture of it and show it to your gas engineer. It is also recommended to look at the installation date. Typically, a boiler fitted within 7 years will be fine. Look for signs of service stickers. It's critical to look at the consumer unit. Consumer units are a few hundred pounds but legally, you have to have a metal box consumer unit. If you see a plastic one, this will need changing before your future tenant moved in. This is an additional cost. Take a look at the plug sockets, are they up to date or will they need rewiring? Take a look at some more general stuff in the property such as the garden, rivers/flood risk area? A good idea on your viewing is to bring a checklist of all the above, removing the risk of forgetting something critical which could cost you money in the future. If you think this is a property that you may want to buy, bring your builder along with you for your second viewing to eliminate any doubts, or to give you a price for the repair work. On your third viewing, finalise everything and get your offer in!   BEST MOMENTS “ A good idea would be to purchase a damp meter to take along to viewings.” “Take a video for yourself, so you can have a look back in your own time and identify things that maybe you missed!” “Tradesmen work on problem properties each day. Having them as part of your power team allows then to identify problems before you go ahead with the deal and save you a significant amount of money.”   VALUABLE RESOURCES https://www.amazon.co.uk/No-Money-Down-Property-Investing/dp/1909846767 https://www.youtube.com/watch?v=o8TZdualhcw https://robmoore.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/ http://progressiveproperty.co.uk/ progressive, property, investing, rent, housing, buy to lets, serviced accomodation, block, auction, home, financial freedom, recurring income, tax, mortgage, assets: http://progressiveproperty.co.uk/

Listen in and learn the expert tools to No Money Down investing success. Kevin covers 5 of the key No Money Down strategies from Lease Options to Vendor Finances and Assisted Sales To Rent2Own. If you’re looking to fast-track your property investing knowledge, discover the fundamentals to some of the UK’s most creative property tools and techniques, this is the episode for you.     KEY TAKEAWAYS    No Money Down Investing Tools  Lease Options - This is where you would pay a small consideration upfront to secure a contract that agrees on the purchase price today but is paid for over a period of time. This is similar to the model of car leasing except that your asset appreciates in value over time and you can add forced value over time by renovating the property. This tool allows you to make a profit from day one by renting out the property to cover your mortgage/payment costs.     Vendor Finance - The easiest person to joint-venture with is the vendor of the property you’re looking to purchase. It’s a simple tool that avoids fees and the need for you to save expensive 25% deposits. Let the vendor be your bank, service their debt and take over their mortgage. This model works as you’re cutting out the bank, paying the vendor directly and it allows you to purchase properties BMV. Both you and the vendor are making a profit.     Assisted Sales - Why buy a house that you’re planning on selling 6-9 months later? There are a lot of costs involved when purchasing an investment property such as stamp duty, legal fees, capital gains etc. This tool is a joint-venture with the homeowner where you will agree with the property owner to delay the sale of their property, allow you to renovate the house and add value and then split the profits when its sold.    Planning Gain - Use a lease option to secure a property subject to planning permission and then apply for planning permission. If you don’t get the planning you don’t by the land, if you do get the planning you go ahead and purchase the property and it’s risk-free. This is an example of using two No money down tools together.    Rent2Own - This tool utilises tenant-buyers whereby you move a tenant into the property and agree a purchase price. This price is lower than what you’ve purchased the property for and locks in your profit. The tenant-buyer then pays you a monthly rent and is also able to save up their deposit to purchase the property off of you in the future. This is renting in a non-traditional way whereby you’re acting as the bank for the tenant and helping them to get onto the property ladder.     Notes  Kevin started investing in property in 2003 and made a lot of mistakes costing a lot of money. In 2013 Kevin joined progressive and in debt from his previous property dealings he had to get creative, and that meant investing in property no money down.     No money down means investing with none of your own money and potentially using joint-ventures to fund your property investments. However, the strategy of No Money Down encompasses much more than just simple property investment, it covers tools such as lease options, assisted sales, exchange-delay completions, Rent2Rent, Rent2Own or vendor finance.     The common problem with all property investors is they know what they want to do, they know the strategy they want to implement and the type of property they want to invest in, what stops them is they simply do not have the funds to invest.     Working full-time and saving up deposits is simply too slow. If you’re saving 20/25% to purchase a property over 5 years and every 5 years you’re able to invest in another property you’re only going to end up with 4 properties over 20 years. The method is just too slow and you’ll run out of life, so you need to get creative.    BEST MOMENTS  “You can purchase a property for a pound”   “Vendor finance is a massive opportunity to get No Money Down deals and BMV”  “I see the amateur investor all of the time, they’re trying to get deals at 20-25% BMV”  “To be a professional investor you need to be creative, you can’t only have one investment strategy”    VALUABLE RESOURCES   https://www.amazon.co.uk/No-Money-Down-Property-Investing/dp/1909846767     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/  http://progressiveproperty.co.uk/ progressive, property, investing, rent, housing, buy to lets, serviced accomodation, block, auction, home, financial freedom, recurring income, tax, mortgage, assets: http://progressiveproperty.co.uk/

Do you want to rent your property out privately but don’t know where to begin? Are you scared about having a nightmare tenant?  Join us today as property expert Kevin shares his tips and tricks to finding that perfect tenant for your property. Kevin takes us through the common mistakes and shortfalls made by landlords as well as sharing his expert advice on how to protect yourself and your property, as well as how to create the perfect listing which is sure to attract your ideal tenant! Tune in now to find out more!   KEY TAKEAWAYS  Things to be aware of to not give your property to someone who could cause you problems. What are some mistakes people make when looking for their own tenants?   Only rely on referencing. If you only rely on referencing this could cause problems. They pass referencing checks but are not actually good tenants. The reason they pass referencing checks is that their previous landlord did not take legal action against them for issues such as owing money etc. The reason a landlord wouldn't take legal action on a bad tenant is that their main focus is to get rid of the tenant and get their property back. Taking a tenant to court is also a huge cost to the landlord, with no guarantee of ever getting their unpaid rent back.     What should you do to find the very best tenants?  It all starts with the listing of the property, make sure you have very good photographs. The good quality pictures will sell the need for somebody to want to view the property. As well as the pictures, the text really matters as well. Highlight the best features of your property such as “recently decorated” “lots of storage space” “fully furnished” etc, as well as including when the property will be available from and local amenities.   If you already have the perfect tenant in mind then portray that tenant in your listing.   Finally, you must always include a copy of the energy performance certificate as this is now legality of any listing.     Where do i put my advert?  If it is a room let advert, then the best place to advertise is Spareroom.com, as well as using OpenRent, Zoopla or Rightmove.   Another great way to get a better quality tenant is by asking for recommendations from your current tenants!     After all of this, how do I pick my Tennant?   Referencing should not be your only source, there are still other things you can do to help you find your perfect tenants. Speak to their previous landlord (not their current) they should give you an honest appraisal of what that Tennant was like.   Another way of doing your own research is by searching their social media accounts. This gives a potential insight into the way that they may treat your property.   Another bit of advice is to always rely on your gut feeling. Ask potential tenants lots of questions and get to know them. Everything may add up on paper but if your instinct is telling you to avoid them, then listen to it!  As well as this, bank statements are a good indication about whether or not this is the tenant for you. Get them to give you a copy of their bank statements from the last 6 months, whereby you can clearly see the rent being paid in their previous accommodation on time.  Always get a guarantor that is in a better financial situation than your potential tenant, so that you know if your tenant is not in a position to pay the rent, their guarantor will.   Taking deposits from tenants is a good way to protect yourself should there be any damages made to the property. In shared accommodation where damage could occur in communal areas and working out which tenants deposit to deduct the costs from, a good idea would be to scrap the deposit and up the rental value by a small amount each month, keeping this little bit extra aside each month to cover any costs that may have occurred over the duration of the agreement.     BEST MOMENTS  “If you only rely on referencing..this could cause problems!”  “If you have the perfect tenant in mind, then portray that in your listing”   “Always, always rely on your gut feeling!”   “Speak to their previous landlord, they should give you an honest appraisal of what the tenant was like”     VALUABLE RESOURCES   https://www.amazon.co.uk/No-Money-Down-Property-Investing/dp/1909846767   https://www.youtube.com/watch?v=o8TZdualhcw   https://robmoore.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/  http://progressiveproperty.co.uk/  progressive, property, investing, rent, housing, buy to lets, serviced accomodation, block, auction, home, financial freedom, recurring income, tax, mortgage, assets: http://progressiveproperty.co.uk/