The Progressive Property Podcast

If you’re looking to start a business or simply discover how to grow your existing venture today’s guest has some important insights from the former manager of the Millenium dome, Pierre-Yves. Kevin and Pierre-Yves discuss in detail the things you need to do and the traits you need to have for you to succeed in your business. You need to know your product, finances and the business model inside out and they go on to share with you the principles you need to learn to make your business profitable. KEY TAKEAWAYS Does playing professional sports helps you in the transition to business? It helps daily. Managing pressure, manager of stress, manager of success, manager of failure, how you reinvent yourself, how you inspire people in crisis. Management of being able to handle and strive under pressure is quite crucial in the property business. If you ever want to be successful in business, look at the product and say, "Can I reinvent this product? Can I reposition it?" If it's yes, you do it. Then look at the finances, business model. Can I again raise equity, raise debt, can I reinvent the business model, improve the profitability of the business? If yes, then do it and you will be successful. And then last but not least, people, who are the people managing the business? Can I inspire them to do differently as a kind of followers with our credit management style? If it's a yes, then go ahead and do the business because you will succeed. The principle of finance, the principle of good accounting, the principle of making sure you have the skills to do it and surrounding yourself with the right people, it's the same for a small business or major corporation. Do not be shaken by people who are handling multi-million businesses because they are using the same principles you are using in your small business. Keep focused and following those principles and one day you will be like them. When you're in trouble, if you don't bring stamina, energy and positive attitude, you're going to struggle and having a very strong sense of humour because you're going to have dark days, you're going to have days you want to give up and if you have a good laughs at days, you're going to be alright. Your best asset is the people in the business and the most important people, the frontline staff, the guys who are serving the food, who are cleaning the floor, if they’re not fitting an integral part in business, you're going to fail. A good entrepreneur is a matchbox. And the matches come in scratch and then shine, and then they go away somewhere else. I think that the responsibility to entrepreneur is not only legacy and building replacement, but it's also allowing others to be able to shine and to develop, and then goes somewhere else and find themselves in other places, being CEO’s, Chairman position and they're going to help you and proudly invest in your business saying that this is the guy that allowed me to be here. The golden rule in any business. If the business plan or the business model is not right and the people are not right, just don’t get involved. For you to succeed in business, you need to be very adaptable and be reactive because preferences are changing regularly as the generations change. The role of a good leader is to be able to predict, to be able to anticipate. Advice to people who are starting a business, small is beautiful, it's not about getting big, is again, it's being successful on your own, and then few if you want to grow, make sure you surround yourself with the right people and it's all about going big, step by step and make sure you got around you people who are going to support you, embrace you and drive this thing forward with you and take them with you for a long time. It is crucial for anybody starting a business to find one or two mentors. Somebody you can trust, somebody who believes in you, somebody who embraces you, somebody, that kick your ass when it's needed for you to grow.   BEST MOMENTS “You’re as good as your last one.” “Principles are the same for a small business or major corporation.” "If you're going to carry responsibilities, and you're going to be the captain of the team, you got to lead by example, it's not doing what I say not what I do, it doesn't work that way.” “Property is not about buying houses, the property is about people.” “As a property owner, if you’re not able to attract the right attitude towards the entire network of your tenants or your business partner, you're just going to fail. “ “The more I practice, the luckier I get.” “Key values, loyalty, honesty, ethics, that's all we ask from people.” “When you are at the helm of something big, you got all the fair-weather friends that come out.” “Entrepreneurs or leaders are never on the job, they’re on a mission.” “It’s fine to have an ego because you need that confidence because if you're shaky, people won't follow you.” VALUABLE RESOURCES https://kevinmcdonnell.co.uk/ ABOUT THE GUEST The charismatic Frenchman, Pierre-Yves Gerbeau certainly has a highly successful CV and the ability to bring a little sparkle to any boardroom, with an approach which made him a mini-celebrity during his time in charge of the Millennium Dome, now better known as the O2 Arena, with the tabloid press nicknaming him 'The Gerbil'. He was also a hockey player for about eight years. 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/

If you’re thinking of investing in HMO or converting your current single-let property you need to know this.  New council tax banding could be affecting your HMO profitability. If you’re investing in HMO’s or looking to increase your profit margins by converting your single-let, be sure to listen to this episode of The Progressive first. Kevin dives into detail on how local councils are charging tax by the room on some HMO’s, why it’s happening and how you can avoid it. If you want to stay up to date with the most recent property laws and increase your profitibability this episode is for you.     KEY TAKEAWAYS.  Up until recently, the council have always charged one council tax bill per property (HMO) however it could soon be that local councils charge council tax per the room. This would make a significant difference to the profitability of the HMO property.   A lot of landlords have invested in HMO rental properties as a way of maximising profitability from a single unit. The way this has been done is by taking a single tenancy unit and converting it into multiple self-contained units that include bedrooms with an en-suite and kitchenette facilities, however, to further increase profitability landlords have opted for a shared kitchen and living facilities for all tenants and as a result, some local council authorities have deemed this as chargeable for multi council tax bills. This drastically affects the profitability of HMO investments.    The process works whereby the council will inform the VOA (Valuation’s Office) that and the VOA will place a banding or multi council tax bands on the property as a result of the multi-tenants occupying the self-contained unit. Depending on the ruling this can wipe out the profit from the property for the landlord all together.   The reason this change to HMO council bands is coming is due to local council budget cuts and councils are now looking at the regulation of self-contained building with multiple occupants differently. For councils, landlords are an easy target.   The council is now looking at HMO’s differently and re-evaluating the status of what is classed as a self-contained unit. One way to try and avoid this new banding is to convert the property with some en-suites but also with a communal bathroom and communal kitchen. The property needs to be habitable by both family and individuals.     What does self-contained mean? The term is not directly set in legislation, it is in actual fact set by case law. As a landlord, you need to speak to the VOA if you have any queries, especially if you are looking to convert a property. You are also able to appeal a council tax banding here: gov.uk/council-tax-appeals and challenge your council tax banding.  HMO properties are normally let ‘all bills included’ basis and therefore as a landlord, you cannot apply for the 25% council tax discount.   There are four things that the council look at when determining the rate for that room these are: Is the property, Beneficial, Exclusive, Actual and Non-Transient.  There are a few things as a landlord you can do to avoid multiple council tax charges for your HMO. This includes not having locks on the bedroom doors, ensuites and kitchenettes and more critically If having all of the tenants on one tenancy agreement rather than individual tenancy agreements.    BEST MOMENTS.  “Councils are not just charging tax by the room, they’re giving it the highest band (A)”  “Councils are trying to charge landlords by the room to get more money in.”  “Some landlords have had council’s charge them council tax by the room, just because they have locks on the doors, even when the room doesn’t have it’s own bathroom or kitchenette.“  “We’re stuck in the middle of only some HMO’s being charged council tax per room”  “You can’t just put your rent up and make the tenant pay. They’ll just leave and go to the competition down the road”    VALUABLE RESOURCES: gov.uk/council-tax-appeals     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   Kevin McDonnell Facebook  Kevin McDonnell website  Progressive Property  progressive, property, investing, rent, housing, buy to lets, serviced accomodation, block, auction, home, financial freedom, recurring income, tax, mortgage, assets: http://progressiveproperty.co.uk/

There’s no need to quit your full-time job if you want to start your property business today.   You’ve got so much time—that you may not know of—which we could use to finally realise that business idea. If there are 168 hours per week and assuming you consume 40 hours with work and 56 hours with sleep, then you’ve got free 72 hours weekly.   In this episode, Kevin gives the 8 essential tips on how you can optimise your precious time. You can even do some of your tasks while at the office, while commuting, or while doing some chores.   There’s really no reason anymore to make an excuse. Put in that determination and action, everything else will follow. Start tuning in today to the Progressive Property Podcast to learn more.  KEY TAKEAWAYS  Tip #1: Time Management. Commit to one task a day. There are 365 days in a year. That’s a lot of time to grow your business. You can even do the smallest on your busy days and use the weekends for the time-consuming ones.  Tip #2: Go to work early, leave work late. In this way, you can beat the traffic. We can use the time you spend on the road on something more important while you’re at the office waiting.   Tip #3: Listen to podcasts. It’s efficient if we learn about property during our downtime or doing household chores or on our drive home, as long as listening won’t put you in any harm.   Tip #4: Use your break time to build your network and schedule your tasks. Call letting agents, book a viewing.  Tip #5: Could you reduce your hours? Loot at you company policy. There are companies who allow 3-day weekends. But this only applies when you haven’t exhausted all your free time available.  Tip #6: Look for joint venture (JV) partners. Find someone who’s on the same journey as you but have different skillset from you. In this way, it’s easier to split tasks.   Tip #7: Attend as many property networking events. As you learn, you also grow your network. You meet people that will support you in your journey through these property events. Prepare an elevator pitch.  Tip #8: Outsource. Get a virtual assistant, a marketing personnel, or whoever you need to do your some of your tasks.  BEST MOMENTS  "You have 168 hours a week, I got 168 hours a week. It’s what we do with those hours that is important.”  “Make the most use of your free time.”  “Your network is your net worth.”  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   Kevin McDonnell Facebook   Kevin McDonnell website   Progressive Property   progressive, property, investing, rent, housing, buy to lets, serviced accomodation, block, auction, home, financial freedom, recurring income, tax, mortgage, assets: http://progressiveproperty.co.uk/

Ever wondered what the Section 24 law means for Property investors? Well, in today’s episode of The Progressive Property Podcast there’s no need to wonder as your host, Kevin McDonnell tells us everything you need to know about the 4-stage law affecting Property investor's mortgages. Discover the pros, cons, costs, and how you can save money by moving your properties over to a Limited company rather than keeping them in your personal name. Tune in today to save money and keep up to date with the property law affecting your investment portfolio.   KEY TAKEAWAYS. Section 24 law, means that you are no longer able to claim mortgage interest or any other type of property finance as a tax-deductible expense in your property business if you own properties in your personal name. Instead, rental profit will be taxed with the maximum deductions for finance cost of 20% of the basic tax rate, phased in between 2017-2021. There are the 4 phases of the section 24 law. Stage 1 was from the 6th April 2017 tax year, where the higher rate tax relief can still be claimed on the first 75% of your mortgage interest cost. The remaining 25% will have a basic rate of tax relief applied. Stage 2 phased in from 6th April 2018 and that amount of tax relief can be claimed and the amount of tax relief you can claim at the higher rate will drop to 50% of your mortgage interest cost, the remaining will be taxed at the basic rate. Stage 3, higher rate tax relief for this financial year can only be applied to 25 % of your mortgage interest cost. Stage 4-April 2021 means you will only be able to claim tax relief at the basic level of 20%. For those who do own property in their own name, it poses a potentially big problem. It is important to remember that each person will face different issues depending on their own personal situation. This can vary between the location of the properties, how many properties you own and the mortgages you hold on each property. It may be valuable, to transfer the properties that are owned in your personal name over to a limited company. Currently, section 24 does not affect properties under Limited companies. If you have a small mortgage with a good profit, you might not want to do anything. However if you have properties in your name, and mortgages on them there is a chance you may see a big rise in your tax bill. It is advisable to seek professional advice from a property tax specialist. Your accountant/property tax specialist will be able to tell you how much higher your bill will be, and if there are ways to minimize it. Consider your medium to long term plans. If you are looking to sell within the next few years, it may not be advisable to transfer properties into a limited company. If you plan to pay down the mortgage soon, it may be advisable to keep them in your name. Section 24 does not affect those with no mortgages, it only affects the mortgage interest. If you plan to refinance and take out more finance on your properties then maybe you should look at moving the properties into a limited company so that you get a more beneficial tax advantage. If you decide it is the right decision to transfer your properties over to a limited company, there are certain steps you need to take. 1) Have a limited company. You may already have one or you may need to make one. An important thing to note is that to be able to hold properties in a limited company, the properties must be owned by more than 1 person. 2) Note the pros and cons in terms of costs. If you move your properties into a limited company, this enables you to defer your capital gains tax under incorporation relief.  However, if you were to sell the properties eventually, you will have to pay capital gains. 3)You need to think about the type of mortgage you have. You may need to redeem your mortgages, however, some companies that lend personally, do not lend to limited companies. Mortgages for limited companies also tend to be higher. There may also be penalties for those on fixed-rate mortgages. 4) Consider future possibilities. Perhaps the government will decide to reverse their decision to introduce section 24. Will the cost of transferring to a limited company such as mortgage costs and legal costs. Could you pay all this, for the government to reverse their decision? Also valuable to consider the repercussions of transferring to an LTD company, when it comes to selling the property. -What to do about any future property purchases? Simply put, Always buy under a limited company as section 24 does not currently affect this. - Seek opportunities and look for ways to help people, and perhaps make some profit from them. If a person decides to sell all their properties, they are only entitled to defer X amount of capital gains (£12,000 per person per 2019 financial year- this differs each year). If you are able to secure a deal to purchase each of their properties individually each financial year, this could save them money in capital gains. - To summarise, seek professional advice in terms of your personal situation. It may be valuable for you to stick with your current situation and continue having the properties in your name, however, it could also be a benefit to have your properties transferred into a Limited company.   BEST MOMENTS. “If you have a small mortgage with a good profit, you might not want to do anything” “if you do have properties in your name and have mortgages on them, then it is very possible that you will see a significant rise in your tax bill. “ “If you own property in your own name and have no mortgage on them,  then section 24 will not make any difference to tax that you pay on your business.” “You could end up doing all this, only for the government to turn around and reverse their decision” “Is there an opportunity to take advantage of those who own in their personal name? Absolutely!”   VALUABLE RESOURCES: https://www.upad.co.uk/landlord-calculators/section-24-tax-calculator   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 Kevin McDonnell Facebook Kevin McDonnell website Progressive Property progressive, property, investing, rent, housing, buy to lets, serviced accomodation, block, auction, home, financial freedom, recurring income, tax, mortgage, assets: http://progressiveproperty.co.uk/

You don’t want to be missing out on the best deals out there. Sometimes, the best ones can be found with the help of the right mortgage broker. So, why don’t you consider having one? In this episode of the Progressive Property Podcast, Kevin helps you find the right mortgage broker for you. He prepared the 7 things one should look at when scouting. There are benefits that you could enjoy if you mind these tips. You could speed up the application, have more free time, get access to direct-only deals, get away from stress brought by stubborn lenders, and lastly, more free time to do other important tasks. Start listening. One of these 7 key points might have been missed on your checklist, so make sure you’ve got everything on there. KEY TAKEAWAYS ‘A mortgage broker is someone who will review the mortgages available to you based on your personal financial situation and then apply for you in your behalf.’ Step 1: Always use the same broker. A broker always asks for the necessary information and documents beforehand. If you keep switching, then a lot of your valuable time is wasted in doing these preparatory steps. Step 2: Make sure they are a whole of market brokers. There are more choices available for you since they got access to the large market. It’s most likely that you’ll able to land on the cheapest deal when you ask for their help. Step 3: Know what you want. What are you looking for? A residential, a buy-to-let, or a commercial mortgage? Commercial mortgage – retail units, buildings and shops Commercial finance – residential house that has been converted for multiple occupation Step 4: Ask for direct-only mortgage options. These might be the best option. Don’t choose a broker who won’t disclose this kind of information to you. Step 5: Consider which type of broker to use. In case you aren’t aware, there are brokers who offer their services online. It might be hassle-free for some to choose this path, but do the nitty-gritty research beforehand. Always ask what fees and commissions does the broker charge before getting into an agreement. Step 6: If you choose a broker, what should they do for you? Aside from finishing the application, make sure they have a solid coordination with the lender/s. The brokers should be responsible for the transactions and updates for the different parties involved. Step 7: The broker should be qualified to give financial advice. Check with Financial Services Register. If you think you received a bad advice, file a complaint with the firm first. If it’s still unresolved, take your complaint to the Financial Services Register. BEST MOMENTS                  “By staying with the same broker, you mitigate the risk of different information being put forward to the lenders.” If they’re not a whole of market lender, then don’t use them as they won’t be able to get you the best product.” “Brokers have no obligation to tell you about these direct-only mortgage deals so you need to ask them about them.” “You get what you pay for; cheap does that necessarily mean valuable.” VALUABLE RESOURCES Progressive Property Financial Services Register ABOUT THE HOSTKevin 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  Kevin McDonnell Facebook Kevin McDonnell website Progressive Property progressive, property, investing, rent, housing, buy to lets, serviced accomodation, block, auction, home, financial freedom, recurring income, tax, mortgage, assets: http://progressiveproperty.co.uk/

It’s either the JV partnership flourishes or not—and, what an absolute waste of resources when it didn’t become productive and just fizzles out.  In this episode of the Progressive Property Podcast, Dan gives you the 5 essential things to consider when looking for a JV partner. Choosing your JV partner is NOT a child’s game, like pin the tail on the donkey or ring-around-the-rosy. There’s too much at stake when you don’t think carefully and you don’t have your guards up. Discover how you can thoroughly pick the best JV partner in your property business through Dan’s simple steps. There will always be one who’s very compatible with your knowledge, skills, and vision, so never settle!   KEY TAKEAWAYS  Work out the real reason you need a JV partner. Are you really in dire need? Or are you just lacking of self-belief? What business are you looking to bring your JV partner on? Make sure that your bringing in the right person. If you don’t want to do it alone, it’s worth considering also to have a mentor who can guide you. Having a JV partner might complicate the situation if you aren’t clear yet of your purpose.  What will each person’s role be? It’s best that you complement each other. Find someone who have the knowledge and skills that you lack. And, who will deal with the day to day issues? If you just want someone who will provide the funds, then being active with the operations is the least to worry about when looking for a JV partner.   Before any agreements, remember to make a list of things you need to agree upfront. A JV Partnership agreement must entail everything each of you must bring to the table. What does your JV partner want? Know what outcome are they looking forward to. Also prepare an exit plan just incase of unforeseen circumstances (e.g. breach of contract, critical illness, etc.)  If you’re looking for a joint venture in property, familiarize yourselves first with PS13/3 regulations. There are only a bunch of people you’re allowed to joint venture with, and PS13/3 has it detailed.  Don’t pick someone just like you. You are not looking for another you, you are looking for someone who can do what you can’t do. Consider taking the Wealth Dynamics Test to gauge if your personalities are compatible. You and your partner can be: a Creator, a Star, a Supporter, a Deal Maker, a Trader, an Accumulator, a Lord, or a Mechanic.  Don’t rush in to picking a JV partner. If you’re picking someone for the long term, test everything out first. It would be a waste of time to know that what you have hope for in the partnership won’t be fruitful. Be clear about their values, not just about the money, the skill, and the knowledge they can offer.  BEST MOMENTS  “Sometimes, people think they need a JV partner and they go into business with somebody when in hindsight, all they needed was to build some knowledge and gain some belief for themselves.”  “We have the end in mind before we even started, and that’s what’s really important.”  “You are not looking for the best mate to go out with, you are looking for a business partner who brings a different dynamic, a different skillset.”  “Pick the right person to grow the business.”  “It’s not a race; it’s a journey.”  “I made a lot of mistakes in property, but I made them before I got educated.”  VALUABLE RESOURCES  Progressive Property  PS13/3 Restrictions on the retail distribution of unregulated collective investment schemes (PDF)   Wealth Dynamics Test  ABOUT THE HOST Peter Jones is a Chartered Surveyor, an author and a serial buy-to-let property investor. He has been involved in property for over 35 years and now owns 78 letting units. He is still actively involved in buying and renovating property, and regularly flips properties for profit. Peter has written a number of successful property books. The first, An Insider’s Guide to Successful Property Investing, was first published in 2000 and was one, if not the very first, book of its kind which was written for what we’d now call buy-to-let investors.   On the back of its success he was invited to be a guest writer for Property Secrets, and wrote Spanish Property Secrets, French Property Secrets, and Portugal Property Secrets. He has since written a number of other successful titles dealing with UK investing including 63 Common Defects in Investment Property and How to Spot Them, the highly acclaimed The Successful Property Investor’s Strategy Workshop and The Property Renovator’s Workshop, in which Peter describes step-by-step how he built his own property portfolio, starting with virtually none of his own money.  CONTACT METHOD  The Property Teacher  Progressive Property   progressive, property, investing, rent, housing, buy to lets, serviced accomodation, block, auction, home, financial freedom, recurring income, tax, mortgage, assets: http://progressiveproperty.co.uk/

‘If you keep going on a daily basis you will succeed in the long run’  In this podcast Neville Wright talks about his journey in retail and property. Having started with just 39p Neville along with his wife built a hugely successful retail business and property portfolio and are now multi-millionaires. Neville shares his experiences and business wisdom in this engaging podcast that will inspire you whether you are just starting out or already on your business journey.    KEY TAKEAWAYS Starting a business When you are running your own business it’s hard work, but it stops being your job because you are doing what you want to do. If you are beginning in business you must be prepared to learn something new every day. Once you know how to run your business successfully you can expand on it and become the best in your niche. It’s what you are doing that counts and the only competition you have is inside of you. How did property come into the equation? I began with window cleaning and said ‘yes’ to everything additional I was asked to do, such as repairs, after 3 months I left the window cleaning behind me and moved across to property maintenance. We used any excess materials to renovate a series of small terrace houses which we purchased, renovated and sold. Each refurbishment was completed in a very short time frame to enable us to move on as quickly as possible. There isn’t a shortcut you have to go up the ladder one step at a time and if you keep going you will succeed. Scaling up At that time for every 4 properties completed the fourth was all profit and we grew year by year. Start small, focus on each day, keep reinvesting the money and don’t be afraid to borrow money to grow your business. Debt is personal, it is things that go down in value and that you don’t need. An investment is something that will go up in value, you can work to make more. In property, lots of people think they can come in at a higher level but in reality, they need to come in at a lower point in order to learn about property investment and earn the trust of potential lenders.   BEST MOMENTS ‘If you borrow money and use it for the purchase of equipment, it is not debt but an investment’ ‘If you are in it you must be trying to win it’ ‘Success can be just around the corner and you must not give up, you must get through the challenges’ ‘You find a passion and you become the best’   VALUABLE RESOURCES  No Money Down: Property Investing book by Kevin McDonnell  https://www.facebook.com/groups/progressivepropertycommunity/ The Answer is Yes Now What is the Question book by Neville Wright   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  Kevin McDonnell Facebook  Kevin McDonnell website 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 PPP likes to bring you leading experts in their field, new strategies and information that can help you on your property journey.  In this episode, Kevin is talking about all things planning with David Kemp a specialist planning consultant.  They discuss in detail how to successfully navigate the different sets of rules that require compliance when developing a property and what the council want to know.  If you want to understand the best way to get through your planning application process then this is a podcast episode you can't afford to miss.     KEY TAKEAWAYS  Planning is a process with its own set of rules.  Begin by identifying the strategies that work in your area from a value and investment viewpoint, then look at what boxes you have to tick for planning to get your scheme from point A to point B.  There are different departments within the local authority – planning, environmental, building control, housing team, conservation and there are a different set of rules that each department has to follow.  Developers need to comply with;  Building control  Housing or licencing  Planning  If it is your first development a joint venture can be a valuable way to move forward.  When you are ready to begin;   Gather information on the ground speak to the planning officers, speak to policy officers, local authority and  housing officers  Reach out to the progressive community and ask people what their experiences have been.  Get to know the people you will be dealing with. Building trust and good relationships can make a huge difference.  When you put in a planning application you need to be sure that it is implementable that the planning does not require amending afterwards.  A planning consultant knows will know what needs to be asked of the planning department and can also check the housing rules to see if what the plan shows, ticks the right boxes.  For information about safety and fire regulations, you should be leveraging the experience and knowledge of your architect.  If you go with an application and then have to make changes it delays everything.  Making any changes prior to the plan being submitted in means you are making the best use of time and there is no delay at the council.     BEST MOMENTS  ‘It’s about asking the right questions beforehand’  ‘Having a good relationship with your housing officers makes a huge difference and can possibly provide leads for new deals’  ‘It’s a little bit of a cookie crumb trail, but if you follow the crumbs you will be led to valuable contacts’    VALUABLE RESOURCES   No Money Down: Property Investing book by Kevin McDonnell   https://www.facebook.com/groups/progressivepropertycommunity/  david@drkplanning.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   Kevin McDonnell Facebook   Kevin McDonnell website  progressive, property, investing, rent, housing, buy to lets, serviced accomodation, block, auction, home, financial freedom, recurring income, tax, mortgage, assets: http://progressiveproperty.co.uk/

‘Most people know what they want to do they just don’t have the money to do it, ‘No Money Down’ is how you do what you want to do’ Live at PPN Blackfriars, this Q & A with Kevin and the panel is an opportunity to hear questions from entrepreneurs at the start of their property journey. This session is a great way to hear what the challenges are and how they can be overcome with detailed advice from individuals who have done it themselves. Property is a people business and a ‘no’ is just the beginning.   KEY TAKEAWAYS Overcoming the rejection ‘Go for no’ it's hard but the more ‘no’s’ you get the closer you are to a yes. You should be practising out of the area so that when you approach your preferred agent you are able to interact professionally. You got to know what you are going to say and have ready the answers to possible objections. Using a script can be useful in putting forward a professional persona. Working with a business partner You can work smart and hard but in the beginning, finding a joint venture partner can be a positive way to move forward. Someone who has complementary skills will broaden the skillset you can offer and increase the potential opportunities. Finding properties You cannot structure a deal unless you know about the person selling. Property is a people business. Build a relationship with the agent and show them you are serious. Purchasing with no money down It always depends on what position the seller is in and how good you are at negotiating a deal. Any professional property investor focuses on solving the other person's problem. The concept of ‘No Money Down’ is not a strategy it’s the way you deliver a strategy. ‘No’ is not the end of negotiation it’s the start of a negotiation. Negotiation is a learned skill you have to do it and implement it. At the beginning of your journey It’s not about getting a good deal it's about getting a deal. You’ve got to meet people and communicate face to face to build rapport and achieve a RESULT Build Rapport with the homeowner. Empathise with them. Find out their Situation Gain good Understanding You earn or you Learn, you may not secure a deal, but you will learn. You’ve got to put the Time in, whatever it takes. You’ve got to walk into the property with a toolbox of options to solve their problems.   BEST MOMENTS ‘I have blown deals because I had a ‘yes’ and turned it to a ‘no’, it’s all part of the journey, part of the learning’ ‘When I walk into a house I'm thinking how can I solve their problems?’ ‘I spent years chasing the money and ended up in debt, solve other people’s problems and you will make the money automatically’   VALUABLE RESOURCES No Money Down: Property Investing book by Kevin McDonnell Go for No book by Richard Fenton  https://www.facebook.com/groups/progressivepropertycommunity/   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 Kevin McDonnell Facebook Kevin McDonnell website  progressive, property, investing, rent, housing, buy to lets, serviced accomodation, block, auction, home, financial freedom, recurring income, tax, mortgage, assets: http://progressiveproperty.co.uk/

If you need help looking for packaged deals and building your portfolio, our guest for today’s episode of the Progressive Property Podcast, Dan Buchan, can help you. Dan, at the young age of 27, has already made a name as a successful property investor and an entrepreneur. Discover how he was able to buy his first house at the age of 19 and was able to grow his property portfolio to over £1million.   One of the best takeaways from today was with the right mindset, you’re able to propel your way to the top of the property ladder. Dan also gives detailed tips on how you can start going out and talking to people. Learn what should be your talking points, why should talk property to anyone you know, and how do you seal a deal with someone. If, by chance, you are not confident with your skillset, then start learning today so you can improve them!  KEY TAKEAWAYS  Dan Buchan has only 8 years of experience in property, but he has a lot of accomplishments to put on the table. He bought his first house when he was 19.   Property was something he explored because someone suggested that he attend a property course. He went out of curiosity and definitely, that was not the last property course he attended.  Just like any other teens, Dan admits that he spent too much of his money on frivolous stuff before, but what sets him apart from the rest is the entrepreneurial side he has honed just to finance this ‘cool’ lifestyle.  He met his soon to be business partner Jamie York at secondary school. They got into trading and reached six-figure numbers at very young ages.  Dan and Jamie started their major brand, We Sell BMV, dedicate to sourcing Below Market Value residential and commercial properties. The find properties and hunt for investors all over the country. They’ve done over a thousand deals.  To attract more clients, you have to be confident and an expert at what you do. You have to keep in mind that above all, you have to contribute value to other people. Clients can tell if their interests are always given priority.  What is holding you back? Some have difficulty talking to the vendors. Some have a hard time looking for properties… You need to push yourself out of your comfort zone and start developing your skill set.  Dan tries to talk to everyone about property investments because he knows that word travels through the mouth and they could easily tell it to people they know. Dan talks about growing their wealth and financial freedom.  Help them achieve their goals. Ask them, “Where do you want to be and what resources do you have available to achieve that?” instead of saying, “How much money do you have?”  BEST MOMENTS  “I was doing 3-4 jobs at once because I thought that’s how you get rich.”  “Working out for other people didn’t work for me… I found that the money was spent quicker than it was being used. I never had to do something creative.”  “Working for other people didn’t necessarily work for me. It wasn’t making money quick enough. Doing something speculative has some upsides, but it’s one way risky and could’ve easily gone the other way.”  “Believe in the value that you add in other people.”  “In order to be wealthy, I need to be able to push myself and learn how to do these things.”  “Growth only comes when you push at the edge of your comfort zone.”  VALUABLE RESOURCES  Progressive Property Podcast Episode 112: Interview With One of The Largest Deal Providers in The UK, Packaging Over 1,000 Deals to Date, Jamie York iTunes|Omny|Player.fm  Homes Under the Hammer  We Sell BMV  Progressive Property  The 5 Second Rule: Transform your Life, Work, and Confidence with Everyday Courage by Mel Robbins  The Story of Two Wolves  ABOUT THE GUESTS  Dan Buchan is a Property Investor, a Speaker, and an Entrepreneur. He is the Director and Co-founder of Aspire Property Group. He also owns We Sell BMV, a market leader in the UK, together with Jamie York.  Dan got into property when he started attending alternative classes on property after graduating from the University of York. From then on, he grew his property portfolio and has closed a lot of property deals.  Dan’s LinkedIn  Email Dan at dan@aspire.co.uk  Dan’s Instagram  ABOUT THE HOST Peter Jones is a Chartered Surveyor, an author and a serial buy-to-let property investor. He has been involved in property for over 35 years and now owns 78 letting units. He is still actively involved in buying and renovating property, and regularly flips properties for profit. Peter has written a number of successful property books. The first, An Insider’s Guide to Successful Property Investing, was first published in 2000 and was one, if not the very first, book of its kind which was written for what we’d now call buy-to-let investors.   On the back of its success he was invited to be a guest writer for Property Secrets, and wrote Spanish Property Secrets, French Property Secrets, and Portugal Property Secrets. He has since written a number of other successful titles dealing with UK investing including 63 Common Defects in Investment Property and How to Spot Them, the highly acclaimed The Successful Property Investor’s Strategy Workshop and The Property Renovator’s Workshop, in which Peter describes step-by-step how he built his own property portfolio, starting with virtually none of his own money.  CONTACT METHOD  The Property Teacher  Progressive Property  progressive, property, investing, rent, housing, buy to lets, serviced accomodation, block, auction, home, financial freedom, recurring income, tax, mortgage, assets: http://progressiveproperty.co.uk/