Property Sourcing Profits

https://www.facebook.com/groups/progressivepropertycommunity/

https://www.linkedin.com/in/david-siegler-7b126316/

ABOUT THE HOST

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

Me versus My Reluctant Tenants

Sun, 06 Jun 2021 23:00:00 -0000

From 1 June bailiffs are permitted to work again for private landlords and David explains his court proceedings with a reluctant tenant providing great information and advice for landlords

He highlights the importance of being all over your repairs and why following the procedure and ensuring you have the right paperwork in place is key.

This episode is a great opportunity to hear exactly how the process works and about the help that is available.

KEY TAKEAWAYS

The judge has mandated due to the money arrears it’s not about the condition of the property.
The duty solicitor did it by the book, checking everything from the dates to the procedure followed
There was no evidence re the issues the tenant raised in the court on the day
The solicitor was very professional and took an opinion on what was happening
If any issues are raised at a hearing the judge will look at;

The value of the repairs

The value of the outstanding rent

Whether the value of the repairs would reduce the rent so it’s below two months outstanding.

If you’ve got reluctant tenants follow the system
The NRLA are very helpful and can provide legal advice

BEST MOMENTS

‘Make sure you are all over your repairs’

‘It’s a simple money order’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

https://www.linkedin.com/in/david-siegler-7b126316/

ABOUT THE HOST

CONTACT METHOD

Tenants, Love them or Not They are Key in Deal Packaging

Sun, 30 May 2021 23:00:00 -0000

Tenants are a key part of any deal packaging proposal and David shares some great tips about how the property market is changing.

Rents have been stuck for a significant amount of time but now they are on the rise and as a deal packager you need to understand the impact of Section 24, why there are fewer rental properties available and why it’s vital you have up to date rental figures for your area to make sure you are presenting the best opportunities to investors.

KEY TAKEAWAYS

Being a buy to let landlord is a business
Incrementally section 24 has meant you can subtract less and less mortgage interest
The presentation can make a difference to the level of rent and the ceiling level for rent is not determined by the street.
The buy to let market has contracted since 2016 but with government incentives, the property market as a whole has continued to grow
On average in the last year rents have risen by 6%
There are fewer rental homes available which has impacted rents
The long term impact of there being fewer rental properties is now being felt by tenants
Tenants going into the property market looking to rent have approximately 50% of the choice they had two years ago
A contraction in the market and fewer rental opportunities mean that tenants are seeing rising rents
Make sure you have the up to date rental figures for your area

BEST MOMENTS

‘Section 24 has started a metaphorical fire in the rental market’

‘Make sure you know the market rent and don’t be afraid to put it up’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

https://www.linkedin.com/in/david-siegler-7b126316/

ABOUT THE HOST

CONTACT METHOD

How to Give Value to Your Investors in a Hot Property Market

Sun, 23 May 2021 23:00:00 -0000

The market is hot how do you give value to your investors?

David shares great content from his deal packaging Mastermind group who have been discussing how as a deal packager you can give value to your investors when the market is hot.

Multi-letting serviced accommodation and tenant buyers are all strategies to consider and could be what makes the difference in securing value for your investors.

KEY TAKEAWAYS

At the moment the yield rates may not be great with buy to lets
With single buy to let you need to use your education and make use of your mentors
How can you increase the rent role so that investors enjoy a great opportunity?
Look at multi letting - subject to making it legal and safe the rooms could be let individually and the gross yield goes up.
Serviced accommodation - a smart single let house where you have ‘guests’ and can increase the income
Tenant buyers - find people who want to buy further on in time but will rent now
Engineer the payments so every month there is an overpayment towards the deposit
It’s a win for the investor because they get a higher return
It’s a win for the tenant as they will get on the property ladder
It’s a much overlooked strategy

BEST MOMENTS

‘The market is hot, hot, hot’

‘A single buy to let can become very attractive with a tenant-buyer in it’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

https://www.linkedin.com/in/david-siegler-7b126316/

ABOUT THE HOST

CONTACT METHOD

Property Prices are on the UP

Sun, 16 May 2021 23:00:00 -0000

In this episode, David looks at the market currently and delves deeper into content from Zoopla and the Daily Telegraph about what’s happening right now in the property market and what it means moving forward.

Levels of sales in the prime central areas have recovered and the ripple effect will impact across the country and affect all areas as more money is spent across the economy.

If you are involved in property and a deal packager then this is an episode you need to catch up with.

KEY TAKEAWAYS

The mortgage lending in April jumped to a record high and this was driven by purchases in London
Deals in Kensington and Chelsea jumped by 80% in the two weeks after the April 12 restrictions were lifted
8 billion was borrowed for residential mortgages in March as people race to take advantage of the stamp duty holiday
What has happened in the last few weeks beats the hot property market in 2006 and its price rises
At the beginning of the year the further you went from London the hotter the property market but this has now changed with the return of demand for property in London
Banks have now begun to instruct workers to return to the workplace and London is on the up
A record number of first-time buyers have paid over a million pounds for their first property.
It’s good news for everyone because it means all properties are increasing

BEST MOMENTS

‘The ripple effect means more money spent across the economy’

‘If you are packaging in London then this is great news’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

https://www.linkedin.com/in/david-siegler-7b126316/

ABOUT THE HOST

CONTACT METHOD

A Good News Episode....well mainly

Sun, 09 May 2021 23:00:00 -0000

Deals are getting done and people are getting paid and this is a great time to be a deal packager.

If you have put in the work and let people know who you are and what you do then you are putting yourself in the right place to make deals and David shares great news about one of his mentees who has done just that with her first deal coming together after she put in the work and got into the right position to successfully bring the right investor and the right property together.

KEY TAKEAWAYS

You need to charge a fee commensurate with the value of the property but you shouldn’t charge less than £3,000
What have you done to get to this point? to make you worth the fee.
You have invested in yourself and your education
You have put in the work consistently through direct mail, phoning agents and getting out there.
It’s about learning your craft and how you should value yourself
It’s about the work that goes into learning about who you are as a deal packager
People are out there hungry for deals and there is money out there
You should have 6-8 investors who are qualified and ready to buy your deals.
Get yourself out there, network and let people know who you are and what you do.
You need to get to the people who have money because they want to invest in bricks and mortar right now.

BEST MOMENTS

‘Getting a deal doesn’t always have to be difficult’

‘She put herself in a position where one agent has said ‘yes’ I can do that deal’

‘If you have deals there is lots of money out there’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

https://www.linkedin.com/in/david-siegler-7b126316/

ABOUT THE HOST

CONTACT METHOD

Repayment or Interest Only. Which mortgage is right for me?

Sun, 02 May 2021 23:00:00 -0000

David shares his perspective on repayment and interest-only mortgages and explains what his current strategy is.

With an interest-only mortgage over time inflation can come to your rescue and with the pandemic causing a massive shock to the economic system, some expert opinions say that it will be inflation that will ultimately eat away at the debt.

The value of property goes up over time, rents go up over time but in effect, the value of the mortgage is less over time meaning inflation could be the magic element for your property portfolio moving forward.

KEY TAKEAWAYS

When you purchase property you are investing in bricks and mortar and hoping the value will go up over time
It’s a much more efficient use of your cash to go interest only
With an interest-only mortgage over time inflation will come to your rescue
There is huge pent up spending power, assets will be purchased and go up in value and this will eat away at the coronavirus debt
With inflation, property prices go up but if you have a mortgage debt it stays the same
You can follow the inflationary rise of the property and keep drawing money out as the value increases.
The value of the debt is eaten away by inflation
The value of the property goes up over time, rents go up over time but in effect, the value of the mortgage is less over time
Over time inflation will be pushing up the value of your property and in real monetary terms decreasing the value of the loan with rents going up
When you are property portfolio building interest-only mortgages are a good way to go
There is a magic in the effect of inflation over time on your property business

BEST MOMENTS

I’m leaning towards inflation going up, I can’t see how it can do anything else

Asset inflation makes heroes of us all

I’ve seen significant inflation before

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

https://www.linkedin.com/in/david-siegler-7b126316/

ABOUT THE HOST

CONTACT METHOD

Estate Agents are being mean to me! How do I find my deals?

Sun, 25 Apr 2021 23:00:00 -0000

Estate agents currently have the lowest stock since 1982 so in this episode, David goes through exactly how to find properties and generate leads without going through an estate agent.

To generate viewings you need to be able to get in contact with people and there are a range of ways to do this if you know where to look. As a deal packager, you need properties and deals and it all begins with getting enough leads.

KEY TAKEAWAYS

If you get enough leads you will get a deal, 30 leads will usually bring 7 or 8 viewings and potentially one deal.
Look for leads on Spare Room, Open Rent, Gumtree and Facebook Marketplace because you get a point of contact with the landlord
This could be an opportunity for rent to rent for serviced accommodation, multi-let or a lease option.
If you get leads you can change them into deals
Extract the data from the sites online and then get in touch with people
You can WhatsApp or text to try and get a viewing but keep it short and sweet.
If you send enough messages you will get responses
The purpose is to get an appointment for a viewing
EIG have information from every auction site in the country and list all the unsold lots. Find out about the unsold lots, there are deals for your investors in there.

BEST MOMENTS

‘Not since 1982 has the amount of housing stock that estate agents have been so low’

‘Test and measure which messages get the best responses’

‘With Gumtree, you get a phone number and an email address’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

https://www.linkedin.com/in/david-siegler-7b126316/

ABOUT THE HOST

CONTACT METHOD

You Have to Get Your Valuations Right to Make a Deal

Sun, 18 Apr 2021 23:00:00 -0000

Getting the numbers right is crucial to success in deal packaging.

In this episode, David discusses the fact that the majority of valuations he sees are incorrect and shares great succinct advice and tips on how to work on your valuation skills and get the numbers right.

If you can compare like with like, understand the sold comparables and accurately estimate refurbishment costs then you will be able to improve your valuation skills and get more deals.

KEY TAKEAWAYS

What can you do to improve your valuation skills?

You can only make comparisons with something that is similar

Where there are sold comparables look at a range, not just the best. The information is all available online so it will be checked through due diligence by the potential investor

If you want a yield driven valuation in the current market you need to be in an Article 4 area, it’s got to be 6-bed plus and preferably in a property that isn’t a family home set up.

It’s got to no longer flow as a family home due to the alterations made

You need to accurately understand and estimate the refurbishment costs especially with conversions to HMO’s

Make sure you compare like with like, work out from the sold comparables what you think a house is worth if there are any odd-looking numbers then highlight them

We work on an average of 6-10 thousand per room

Focus on the bricks and mortar family home values

BEST MOMENTS

‘An HMO has got to no longer flow as a family home due to the alterations made’

‘When there are a lot of pictures you can tell it’s a property that the owners are proud of’

‘You have to compare like with like’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

https://www.linkedin.com/in/david-siegler-7b126316/

ABOUT THE HOST

CONTACT METHOD

Difficult responses to your Direct To Vendor Marketing - how do you turn it around?

Sun, 11 Apr 2021 23:00:00 -0000

What happens when you get a difficult response to your direct to vendor marketing?

Direct to vendor marketing works it will bring the calls that you can turn into leads and ultimately deals but sometimes it can bring a response that is angry or raising objections.it might not be what you expect but if you follow David’s advice you can learn to deflect or divert, smoothing things over so the phone call is still productive for you.

Ultimately it’s all about deflecting, getting things back on track and building relationships and if you are prepared it’s easy to burst the balloon of anger and move forward positively

KEY TAKEAWAYS

Deflect – I’m so pleased I have the chance to speak with you …. We are property investors who want to provide good housing for people in the community…. I’d love to come and meet you and tell you more………
Leaflet drops are about getting a phone call that you can turn into a lead.
When you have an appointment to visit you have the opportunity to make a deal.
Deflect, turn the objection away and move the lead forward.
You can be thrown off course if you are unprepared.
There are only two or three objections and it’s about deflecting them and resetting the conversation towards getting an appointment.
It doesn’t matter what your direct to vendor marketing is if you get a call from someone objecting then deflect, and get things back on track re properties to invest in.
Be prepared for the objection when the phone rings and then get things back on course

BEST MOMENTS

‘Deflect and burst the balloon of anger’

‘You need to build relationships’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

https://www.linkedin.com/in/david-siegler-7b126316/

ABOUT THE HOST

CONTACT METHOD

Want a Fast Start? Then Do This! Package Rent 2 Rent for Serviced Accommodation

Sun, 28 Mar 2021 23:00:00 -0000

It’s fast and it works generating profit very quickly!

This episode is packed with valuable content about exactly how to start and build a business deal packaging rent to rent for serviced accommodation.

The key is putting in place a very effective power team because packaging rent to rent for service accommodation has lots of moving parts.

David goes through step by step providing great advice and detailing exactly what you need to do and say to find the properties you need and attract the right investors meaning you can not only build your own portfolio but also generate profit very quickly.

KEY TAKEAWAYS

It can generate profit very quickly because you are dealing with rental properties
You can go straight in see the letting agent, get the property off the market and do the deal and get paid
Look for appropriate properties and people who want to be property investors.
If properties net for around £1,000 per month you can keep them for your own portfolio.
You can earn around £3,000 in fees for a deal if the contract is a reasonable length
You need to find a good, serviced accommodation operator.
Not all serviced accommodation operators are equal but a good one will be the cornerstone of your business.
If you get out there on social media you will be overwhelmed by investors who can’t afford to buy but have enough to get into rent to rent.
The more marketing you do the more leads and deals you will get.
There are a variety of reasons a landlord will choose to go with a deal packager and rent to rent - you are guaranteeing the rent, there are no void points and you will be undertaking the maintenance.
Before you go in work out the numbers

BEST MOMENTS

‘If you can source a rent to rent serviced accommodation producing £1,000 per month keep it for yourself’

‘Staycation is going to be huge during this year because people have to stay at home’

‘She earned £25,000 in the first month’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

https://www.linkedin.com/in/david-siegler-7b126316/

ABOUT THE HOST

CONTACT METHOD

Going Through The Possession Process In 2021

Mon, 22 Mar 2021 00:00:00 -0000

What can you do about tenants not paying?

David shares his current journey serving a Section 8 notice and the ensuing process leading to a court hearing.

Currently, the government have made it challenging for landlords who have tenants who just won’t pay and there is great advice in this episode on the Section 8 process with practical tips and clear content on exactly what to expect throughout the process including understanding the time it takes to compile the required documentation.

KEY TAKEAWAYS

The government have hamstrung us and closed off many avenues
You can serve a Section 8 notice and go through the court process.
You can’t do anything until the tenant has accrued substantial arrears which is usually 6 months or more.
With Section 8 you get possession and the judge has very little discretion if you can prove the tenant is more than 6 months in arrears, they have to give possession.
You get both possession and a money order for the amount outstanding and a daily rate that is in force from the date of court to the date of possession.
With substantial arrears, you can make an application to the court
The court can request documentation to be with them a minimum of 14 days before the hearing.
Requested documentation has to be sent both by post and electronically to the tenant.
Documentation required by the court includes particulars of the claim, tenancy agreement, payment history, a statement of information about the defendants’ situation ( the tenant’s ability to pay and a statement about the effect of Covid on the defendant and their dependants.
Tenants can have their own legal representation or use the legal representation available at court on the day

BEST MOMENTS

‘The initial review is to decide when the full hearing will take place’

‘It is a significant intellectual exercise’

‘I’m on the journey now, but it’s not resolved yet’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

https://www.linkedin.com/in/david-siegler-7b126316/

ABOUT THE HOST

CONTACT METHOD

Freeports - Why Aren’t We Talking About This?

Mon, 15 Mar 2021 00:00:00 -0000

In the recent Budget, the location of eight new Freeports were announced and David looks at what a Freeport is and the positive impact freeport areas have on an area.

With the generation of infrastructure and favourable planning along with benefits such as favourable customs duties and low or zero VAT rates, there are many positives in a Freeport area.

If you are deal packaging there is great potential and opportunities that should not be missed.

KEY TAKEAWAYS

Freeports are usually located around shipping ports or airports
The Solent Freeport will incorporate a large geographical area and could generate 52,000 jobs.
The Teesside Freeport will be huge with 46 geographical areas connected with the Freeport with an estimated 3.4 billion boost to the economy.
A freeport generates a huge amount of infrastructure spending
Benefits for these areas include favourable customs duties, low or zero VAT rates
There is simplified planning or a suspension of planning in these areas.
Property prices as a result of freeports will be strong.
Property opportunities in the Midlands are going to be exciting
If you are in the East Midlands, Felixstowe, Harwich, Humber, Liverpool and City, Plymouth, Solent, Thames or Teesside now is the time for great opportunities.
When structuring a deal, you need to include the positive effect of Freeports on your property.

BEST MOMENTS

‘Freeports’ extend over a significant area’

‘There is a huge amount of forced appreciation of assets in those areas’

‘This sounds like a huge opportunity for property people in these areas’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

https://www.linkedin.com/in/david-siegler-7b126316/

ABOUT THE HOST

CONTACT METHOD

Your Property Business Going Forward

Mon, 08 Mar 2021 00:00:00 -0000

This is the time for opportunities and if you want to put in place the foundations for a great property business moving forward you need to find the right lenders and in this episode, David explains exactly what you should be doing to build the right finance power team.

The property millionaires of 2025/2026 will be created in the next two years and if you work with the right lenders and investors you can build a property business now that will take be able to advantage of all the opportunities going forward.

KEY TAKEAWAYS

Property prices are high because currently, stock isn’t available.
There is an accidental savings surplus of200 billion because people couldn’t do anything or go anywhere.
The most important thing is to work with people who can get the money.
You can have the best deal in the world but if you don’t have the money in-place you can’t complete it.
The finance power team is key.
Build your team and make those connections now.
You need to work with investors who have a clean credit history.
Make sure investors have a track record in the strategy you are presenting.
Work with people who know how to structure a deal going forward.
There should be equity left in a deal after the lending.

BEST MOMENTS

‘People who buy in 2021/2022 will be the property millionaires of 2025/2026’

‘One of the hot strategies at the moment is the high street’

‘There’s a lot of cash available to go into the economy’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

https://www.linkedin.com/in/david-siegler-7b126316/

ABOUT THE HOST

CONTACT METHOD

Lifetime Interests

Mon, 01 Mar 2021 00:00:00 -0000

David is currently packaging a ‘Lifetime Interest’ deal and in this episode explains how this type of deal can be a positive for both the beneficiary and the investor.

For an investor who wants to invest in a secure way with a great uplift that is both significant and inevitable in a way that can only be achieved with bricks and mortar, this is a strategy that is worth a look at.

KEY TAKEAWAYS

A lifetime interest is a document that means the surviving person can remain in the property rent-free.
If you have cash in today’s market you can put your money into bricks and mortar and increase the value of your money overnight
You have an asset that you can’t access but it continues to increase in value.
You don’t know what’s going to happen in the future but if you have cash and don’t know what to do with it then bricks and mortar is always going to be desirable
When packaging this type of deal the beneficiaries get their money out and the lifetime tenant doesn’t have to move.
The investor gets an uplift from day one and when the property is sold, achieves a good increase for the money invested.
If you have money that you want to invest in a secure way why wouldn’t you look at lifetime interests?

BEST MOMENTS

‘The uplift is inevitable and significant’

‘Lifetime Interests – an interesting strategy for the times we are in’

There is no-where elsewhere you can get that kind of increase’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

https://www.linkedin.com/in/david-siegler-7b126316/

ABOUT THE HOST

CONTACT METHOD

If I Were Starting Today What Would I Do?

Mon, 22 Feb 2021 00:00:00 -0000

In this episode, David explains exactly how to start your deal packaging business in a way that means it is sustainable and will grow.

He shares great advice about how to achieve the right mindset and an approach that means you can’t fail.

Deal packaging has huge value and when you as a deal packager have perfected your skills you can have whatever you want.

There are many people who start and grow successful property businesses with lots of other things going on in their lives and you can too.

If you are at the start of your property journey or even wondering if deal packaging is for you then this is the episode for you.

KEY TAKEAWAYS

You as the deal packager can only package based on the figures at the time property prices may then go down.
Prices go up and go down as part of the cycle of property.
The prices go up in a boom then go down in the crash that follows, then up in the next boom.
Holding Property is a long term strategy
If you are new you need to have the right mindset begin by pretending you are sourcing properties for yourself, what would you want for you and your portfolio?
You need to market what you are doing and let people know.
Estate agents are the quickest free way of sourcing deals and direct mail works with guaranteed results.
A deal is something that cash flows for the investor and appreciates in capital over time
Get in the mindset of thinking as if you are buying property for yourself and do one thing every day to move your property business forward.

BEST MOMENTS

‘Go out and look for your dream deal’

‘Prices go up and go down as part of the cycle of property’

‘Everyone makes mistakes it’s how you learn and grow’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

https://www.linkedin.com/in/david-siegler-7b126316/

ABOUT THE HOST

CONTACT METHOD

Marketing is Key. How Do You Start for Free?

Mon, 15 Feb 2021 00:00:00 -0000

If you are completely new to deal packaging how do you get started?

David explains why marketing is key and how when you start it’s all about marketing for leads.

There is a process to be followed and there are ways to use free marketing tools when you are starting out and in this episode, David shares exactly what the marketing process is and how to effectively use free marketing to get your first deals. This is a must for anyone starting out in deal packaging and looking for their first deal.

KEY TAKEAWAYS

The more leads you will get the more conversations you have and the more offers you can make.
Market for leads, talk to the leads move them forward to deals make offers to the leads and they become deals
Estate agents are free and you can build positive relationships with them
Gumtree and Facebook marketplace are good sources for property. There are phone numbers for you to directly contact people.
When you’ve made 45 plus phone calls you are going to be better than when you started.
When you get your first deal put a percentage aside for paid marketing
You could do direct to vendor marketing.
Posting a Facebook ad can help you to focus on your geographical area.
Look for the opportunity with any property deal.
Test and measure different marketing tools to find the one that is most productive for you.

BEST MOMENTS

‘Until you start making offers you are not going to get a deal.

‘It’s all about volume - you have to keep pushing and you will get a deal’

‘People advertise property in free ads’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

https://www.linkedin.com/in/david-siegler-7b126316/

ABOUT THE HOST

CONTACT METHOD

The offer that is NOT an offer, offer

Mon, 08 Feb 2021 00:00:00 -0000

David is here to help with great advice on how to get deals right now. The numbers and holding your numbers is key

A deal is made up of doing your research then viewings and making some offers. Those that are accepted are usually deals that then go on to complete but how do you make an offer that is not an offer?

David shares how to make a lowball offer that maintains your professional integrity and credibility and continues to develop the positive relationships you have with estate agents. If you follow the process and make offers on every property you will get deals with numbers that work for you.

KEY TAKEAWAYS

Reverse engineer the numbers to work out what you want to earn a month.
How many deals do you need to do to make the number you need each month?
To get to a point of offers you need to do a certain number of viewings.
You should make offers on all the properties you view.
How do you maintain your professional integrity and credibility if you want to make a lowball offer?
You are not a retail buyer; you are looking to buy for an investor and as a property professional you have to make a margin and you look at it from a different viewpoint.
Practice making offers that are not offers.
Find reasons as to why the property doesn’t meet your criteria and explain what your offer would be, even though you don’t want to make an offer.
Explain you are only sharing your thoughts about a price that would work for you.
If you make an offer on every property you will get deals.

BEST MOMENTS

‘If an estate agent is looking for the asking price still make an offer’

‘Deduct from the asking price the work that needs doing and explain your role as a professional’

‘Every time you view a property make an offer’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

https://www.linkedin.com/in/david-siegler-7b126316/

ABOUT THE HOST

CONTACT METHOD

Here is what we did, and here is what we learned!

Mon, 01 Feb 2021 00:00:00 -0000

David shares great practical advice for any deal packagers who are at the start of their journey from the work he has been doing with his mentees and through his own deal packaging.

It’s all about talking to other people in the right way in your own style and the best way to get good at it is to practice lots.

As a deal packager, you are going to be looking for deals as a trade buyer, your investor is going to need a financial advantage and in this episode, David shares exactly how to position yourself with the offer that’s not an offer strategy, a great way to get established and share your professionalism with any estate agent.

KEY TAKEAWAYS

When you are starting out you don’t have to be an expert, you’ve been talking to other people all your life
The more you talk to people the better you will get, do it subconsciously as well as consciously.
By the time you have done 30 plus calls, you will know what to say
If you come to a stuttering halt it doesn’t matter, it’s about doing your best
When talking to estate agents you need to have an idea of what you are going to say – a script.
You have to convey what’s in the script in your own words in your own style.
How do you speak to estate agents when you know they are not going to accept the offer?
Use the strategy of the offer that is not an offer- Explain you are not making an offer but what the required criteria is in costs if you were making an offer.
Explain to the estate agent that you are looking for properties as a trade buyer.
You need a financial advantage for your investor. A discount against the market value.
You are putting a barrier in by it not being an offer but making it clear what you would offer.

BEST MOMENTS

‘Being able to find discounted properties is a monetising skill in its own right’

‘£1,500 for 3 hours work over 3 weeks, you’ve got my attention’

‘She positioned herself as a professional deal packager who knew her numbers’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

https://www.linkedin.com/in/david-siegler-7b126316/

ABOUT THE HOST

CONTACT METHOD

What Your Investors Need To Know About Rents In The Current Market

Mon, 25 Jan 2021 00:00:00 -0000

David explains how as a property investor with rental properties himself the market is changing as rents increase across the country.

He explains how Section 13 notices can effectively be used and how as a deal packager knowing and understanding where rents are in the market today helps build credibility, trust and can bring your investors peace of mind.

KEY TAKEAWAYS

Rents have gone up across most of the country
Section 20 means you can no longer deduct mortgage interest from the yearly tax return.
There has been a rush to move properties into a corporate structure
Section 13 is the notice used to inform tenants of an increase in rent when they have moved past their initial rental agreements and on periodic tenancies
All our rises were relative to the individual history of the tenancy and the open market currently.
Rents are key for your investors.
As a deal packager, knowing and understanding where rents are in the market today will build credibility with your investors.
You can give them peace of mind that you know about rents and can advise and support them.
From May 4 tenants who are under financial pressure or with arrears can apply to the local authority for ‘breathing space’
Most tenants out there are honest people trying to build a home for themselves.

BEST MOMENTS

‘My experience is that tenants who are working will pay their rents’

‘We have to charge market rent’

‘Rents have never been at this level’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

https://www.linkedin.com/in/david-siegler-7b126316/

ABOUT THE HOST

CONTACT METHOD

Property Prices Down 25%, I Will Show You Where...

Mon, 18 Jan 2021 00:00:00 -0000

Things are changing and in this episode, David shares the facts about what’s happening right now in the property.

Rents will be increasing because of the shortage of rental properties available combined with landlords affected by Section 24 needing to increase rents to remain in the same position as previously.

Property is a people business and in some places, property prices are going to fall by as much as 25% with individuals who have to sell and as a deal packager you could be out there helping them and securing great deals.

KEY TAKEAWAYS

The prices will drop by 25% on those properties where people have to sell and have some equity in the property.
Property is a people business and now it’s all about the vendor and if they have to sell.
You can be helping someone if they are in a position where they need to sell.
In some areas, there are very limited rental properties and wherever there is a shortage rents will go up.
Landlords affected by section 24 will have to increase rents to remain in the same position as before section 24.
Use section 13, where possible, to increase rents.
The are many rental models available including
In addition to a successful credit check having a property owner guarantor behind every rental agreement brings security.

BEST MOMENTS

‘It’s starting to happen now – I’ve already purchased below market value’

‘The number of rentals on the market at the moment is tiny’

‘Some people will have equity in their properties and will want to sell at a lower price because it’s helping them’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

https://www.linkedin.com/in/david-siegler-7b126316/

ABOUT THE HOST

CONTACT METHOD

Locked Down AGAIN. Here is What You Can do to Build Your Property Business From Home

Mon, 11 Jan 2021 00:00:00 -0000

It’s the start of a New Year and David has found ways to kickstart and recalibrate his business and now he wants to help you to do the same with your business through the lockdown.

It can be a really good year if you do the right work and build the systems and relationships with people that will make the difference.

There are great deals out there to package and David shares where to look for them and what you can do to find the right investors for your deal packaging business all from the comfort of your own home.

KEY TAKEAWAYS

You can recalibrate your business, take action and move forward.
Estate agents are open and they are selling houses, the world is changing they want to hear from packagers.
Direct to vendor is a great strategy and there is direct to vendor access through a range of different platforms such as gumtree and Facebook marketplace.
Now is the time to build your direct mail database. You’ve got time now to put a campaign together.
Post on social media in property groups to build your profile consistently.
Talk about the triumphs and the challenges of your journey.
Now is the time to take action and build your business foundations.

BEST MOMENTS

‘Put yourself out there and people will come to you’

‘Property is a people business’

‘I’m going to make you earn some money’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

https://www.linkedin.com/in/david-siegler-7b126316/

ABOUT THE HOST

CONTACT METHOD

Deal Packaging, Best Property Strategy Ever!

Mon, 21 Dec 2020 00:00:00 -0000

David talks to Rob and Tom hosts of the Property Investors podcast about all things deal packaging.

They discuss how to get started, why deal packaging is the property area to get into first and how you can do it when you are starting with no cash flow.

David also discusses some of the deals he has done, what to look for in an investor and creating a process that will mean you as the deal packager not only build an effective relationship with the investor but also ensure they have the funds and are committed to investing.

KEY TAKEAWAYS

If you want to get into property deal packaging is the best way to get started
Initially, it’s about the cash you are finding an investor who wants to buy a house and then you go out and find a property to match their criteria and you are paid a fee for sourcing the property.
In any year there will be property deals that you will want to invest in to build your own portfolio.
It’s about your investor database and it’s about the people.
Where ever you are based deal packaging works.
The strategies required vary in different areas of the country
Deal sourcers and packagers are regulated and compliance is important.
Being compliant means having professional indemnity insurance, being registered with a redress scheme, data protection re the ICO, registering with HMRC re anti-money laundering.
The process should begin with securing the investor and there should be interactions that build a relationship between the investor and deal packager.
If you have a process then you can qualify the investor through a series of hurdles that help to ascertain the legitimacy of the investor and mean they can get to know the deal packager.

BEST MOMENTS

‘There is a natural flow to deal packaging’

‘Deal packaging is the fastest way in property to make cash and you don’t have to put anything in’

‘Deal packaging can work successfully anywhere’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

https://www.linkedin.com/in/david-siegler-7b126316/

ABOUT THE HOST

CONTACT METHOD

Stacking an HMO Deal for Your Investors - What You Need to Know

Mon, 14 Dec 2020 00:00:00 -0000

HMO properties are a great way to add value for your investors and in this episode, David shares some great tips and advice on how to successfully source and create HMO’s for your investors.

The key is the floor plan, viewing and deciding on the model you are going to use along with having a good builder to make the changes needed.

This is a great opportunity to help anyone consider what’s the best model for them and their investors and how to go about creating an HMO that will bring the returns you want.

KEY TAKEAWAYS

Start with the floor plans and viewing to decide if the property is a possibility as an HMO.
If you are going to make significant changes you don’t need to worry about the condition of the property.
Decide what HMO model you are going to use is it the shared facilities model or the full ensuite model
Five bedrooms usually require an HMO licence.
With the ensuite model, you are creating high-quality rooms in the right location and gaining the best level of returns.
A typical ensuite model refurbishment project will require a budget of around

£10-12 thousand per room.

The multi-let model can be completed for less money.
With the ensuite model, it’s likely that you can achieve a 20-30% return on capital.
The location is key as this will determine rental returns.
Having a good builder is vital and a recommendation is the best way to achieve this.

BEST MOMENTS

‘HMO properties are a great way to add value for your investors

‘By reconfiguring you can lift the rent roll’

‘The multi-let model can be completed for less money’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

Valuing a Property - Knowing How to Calculate a Refurb is Vital

Mon, 07 Dec 2020 00:00:00 -0000

In this episode, David goes through exactly what to look for in an average 3-bed property when you are calculating a refurbishment.

It’s key that you understand exactly what you need to look at when you are viewing the property and work out if you need to replace or repair.

David takes us through room by room so you know exactly what to look for, what makes the difference and how to approach calculating a refurbishment so your numbers mean you have the right information when it comes to making a deal.

KEY TAKEAWAYS

The skill and experience of knowing how to value a property is key
When you are viewing the property look closely at all areas to identify whether you need to replace or can repair.
When potential tenants view it’s the worktop, handles and taps they notice
It’s always about the first impression.
Always have a contingency, items such as skips are easily forgotten and have a significant cost.
You need to carefully view the property and review the state of the electrics, heating, windows, doors and outside areas.
Part of valuing a property is calculating the refurbishment
When you know what work needs to be done phone around and find out how much it’s going to cost.
Calculate your refurb correctly with 15% contingency and you will have the numbers you need for a good deal.

BEST MOMENTS

‘The progressive community will also be able to help with people who have extensive experience’

‘You need to know the numbers where you are in the country’

‘Ask yourself ‘What do you actually need to replace?’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

Laura Muse; Social Media Mastery & How to Build an Investor Database

Mon, 23 Nov 2020 00:00:00 -0000

Laura Muse has built a fantastic business in property in a very short amount of time and is now a mentor in the Progressive deal packaging mastermind group sharing her expertise and experience with others.

She shares great advice and tips on exactly how to get started and make it work in this episode packed with content and a must-listen for anyone who is starting out or thinking about deal packaging.

If you want to build a successful property business you have to get out of your own way and get comfortable with being uncomfortable and Laura explains exactly how she has achieved this in her own property and deal packaging business and how you can too.

KEY TAKEAWAYS

Social media is a fundamental part of building your property business whether it’s to find leads or find investors
When you are consistent sharing what you are doing then you will get enquiries from potential investors and those who want to know more.
In sales, they recommend you have at least 7 touchpoints with potential customers and the great thing about social media is you can achieve that in a day.
I created videos throughout a week showing people why Sheffield was a great place to invest.
You are showing people that you know about what you are doing and the deals that are available.
Demonstrating that you know your area and market is more important to an investor than the number of deals you have done.
When you share your portfolio, you are building your credibility with the potential investor.
A portfolio can be physical or digital and should include information about you and your goldmine area, making it clear the benefits of investing and the types of deals available
Put in a sample deals to prove you know your numbers and demonstrate the returns possible.
Using lead magnets can help you to build your own database and you an then contact these people regularly to keep them updated on what you are doing and build trust.
Being consistent, documenting your journey and people seeing projects from start to finish builds trust.
When you begin and don’t have any completed projects elevate yourself in your area as the knowledgeable person.

BEST MOMENTS

‘Social media has consumed my life but it’s raised me a hell of a lot of money along the way’

‘My biggest fear was that I didn’t have any experience but you need to remember there is always someone further back on the journey than you’

‘We have built up the know, like and trust that means people leave their money with us for a minimum of 3 to 5 years’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

Katy Wilson! How You Can Earn £6000 a Month Just Through Direct Mail?

Mon, 16 Nov 2020 00:00:00 -0000

David is with Progressive Deal Packager co-trainer Katy Wilson who has just begun her fourth year as a property professional.

With a six-figure deal packaging business and a property portfolio worth 1.5million, Katy is a hugely successful property professional who shares some great advice about how effectively use direct mail and explains why she is able to successfully secure deals at below market value. If you are wondering about deal packaging then hear how successful you could be if you learn from the experts and follow the process.

KEY TAKEAWAYS

As a deal packager it’s not about the property it’s about the vendor and how motivated they are to sell.
Financial difficulties and needing to move to a care home are motivators for vendors.
It’s good to build relationships and work with people who can bring you multiple referrals.
Direct mail gets fantastic response rates and it is very cost-effective.
The key is always about the motivation it’s not about the vendor wanting to sell it’s about them needing to sell.
A letter that looks handwritten gets a better response.
As property people we look at property differently you can help people who are motivated because they want and need to sell.
When you are beginning there are high-value tasks and low-value tasks that need completing and you need to focus on the high-value tasks.
When you make an offer, educate the estate agent /vendor as to why you are making a lower offer. Explain what needs to be done.
Go through a list of what needs to be done and reverse engineer to explain the offer.
The reality is if you are doing a good deal it will progress quickly.

BEST MOMENTS

‘As a deal packager the world is your oyster and anything is possible’

‘If you commit to working with Progressive deal packaging for 2 years you can be in the same place as Katy’

‘Sending a second letter after the first letter has a really good return rate’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

The Property Bubble Burst

Mon, 09 Nov 2020 00:00:00 -0000

David looks at the property market and the signs that things are changing with the property bubble beginning to deflate but in any recession, there are opportunities and David, who is on his fifth property cycle, knows exactly where and what they are.

He knows how difficult things are going to be but he also knows where to look for the deals and grasp the opportunities so that as a deal packager you can be in a position to be part of a solution for those vendors who are distressed.

KEY TAKEAWAYS

The signs that the market is changing are there are houses with down valuations.
There are over a million mortgages up for renewal Including buy to let.
The criteria for getting a mortgage is now very different.
Some people will not be able to get finance meaning there will be distressed vendors
There is an opportunity to use your network and knowledge to provide a solution for these vendors.
It doesn’t matter how deep the recession goes there are always people out there who will buy and have the cash.
If you want to make cash in your life in the next 12 months deal packaging is the place to do it.
There will be local developers who will be distressed and you can help, working with them to sell the properties.

BEST MOMENTS

‘These people need our help and we can give our help’

‘The signs are there with down valuations being a key marker about what’s happening’

‘Get the assets together for your business and work with others to grasp the opportunities’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

How Can You Add Maxim Value to an Investor?

Mon, 02 Nov 2020 00:00:00 -0000

Jessie Marsh began her deal packaging story at Progressive and went on to join the Mastermind group as her journey continued.

Jessie specialises in maximising returns for her investors and has to date packaged over 50 deals whilst building her own portfolio.

Now a Mastermind Mentor in the deal packaging group Jessie shares, in this episode, great content about her journey and how she has achieved her success.

KEY TAKEAWAYS

It’s about how I can add value to that investor and how I would want to be treated if I was that person.
Speaking about UK investment opportunities in holland brought great contacts and international investors who wanted to buy in the UK.
In the UK it was about having the mechanisms in place that could make EU investments work.
There are many factors to consider and we sourced individuals for our power team who had the specific skills needed to facilitate international investors.
We are now working in the care sector and emergency housing space, working with the NHS and Local Authorities meaning we have the end-user in place.
I worked really hard to build up a great network through social media platforms.
If you talk about what you are doing online people feel they are on the journey with you.
We talk about the good bits, the bad bits, the falling down bits, we talk about it all.
It’s the people who are watching you not necessarily those who comment who will want to work with you.
When you make a decision to work with someone it’s about the whole picture it’s a long term relationship and you have to be aligned with each other.

BEST MOMENTS

‘I work backwards from what an investor tells me they want to achieve’

‘You have to get out there on social media

‘I ask myself - How would I feel if I was in their shoes?’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

How to Systemise the Right Thing at the Right Time in Deal Packaging

Mon, 26 Oct 2020 00:00:00 -0000

David is with Rick Cusimano, a mentor in the Progressive mastermind group. Rick has to date bought and sold around 40 properties and is continuing to grow his own portfolio and source great deals for investors as a deal packager. His most recent purchase is a commercial property that he is currently converting into 11 apartments.

In this interview, he talks about effectively using systems in your deal packaging business from the very start and shares some of the apps and tools he uses in his own business. It can be easy to get started and then use up valuable time trying to put in systems when the key is to put the right systems in at the right time and never find yourself trying to play catch up.

KEY TAKEAWAYS

It’s all about the right deal at the right time and you need to take things a step at a time.
You need projects that will push you so you continue to grow and develop.
Any project or learning gives you the foundation to take further steps towards a bigger project further on.
Deal packaging forces you to go out and look at every sort of property opportunity.
You have to systemise the right thing at the right time as a deal packager.
You should as a deal packager from the beginning have an app that tracks milage such as MileIQ and a diary, task manager or scheduling system, such as google calendar, which you can easily share with others.
Systemising is about saving time and it’s important to have a system that means you can follow up on offers you have made.
You need to systemise the investor side of the deal with email templates and email management to ensure you maintain good levels of communication.
Having a helicopter view of what’s going on in your business and the deals that are going on is vital.

BEST MOMENTS

‘It’s all about finding investment opportunities that are interesting and capture the imagination of others’

‘Little deals can lead on to bigger deals and the opportunities keep on presenting themselves in deal packaging’

‘Everything you do potentially creates a new opportunity’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

Getting Direct to Vendor Marketing Right

Sun, 18 Oct 2020 23:00:00 -0000

David is with Karen Hopkinson who is successfully combining building her own portfolio with packaging deals.

As an expert in the direct to vendor strategy, she explains exactly how to approach the conversation with the vendor to ensure you can help them and it’s the right property for you along with the best ways to achieve successful marketing.

Direct to vendor marketing is about being highly visible in your area consistently to build know, like and trust in your area and Karen shares exactly how to go about it successfully in this episode packed with informative content.

KEY TAKEAWAYS

Ultimately when you are speaking to the vendor it’s just one person speaking to another person.
They want to sell and you want to buy.
The most important thing is to be yourself - someone they can relate to and is friendly.
You need to build rapport with the vendor.
It’s all about fact-finding – does the property fit your criteria, are you able to help them?
Weaving your questions into the conversation is the best way to fact find.
Try to understand why they are selling.
Always be honest and tell them you are a property investor at the beginning.
If you are direct marketing divide your area into quadrants and leaflet drop in each on consecutive weeks then 6-8 weeks later repeat the process.
It’s building the know, like and trust in the area.
After 3 months give it a rest then go back to it, leafleting is a very effective direct to vendor strategy.

BEST MOMENTS

‘I love direct to vendor marketing’

‘You can get fantastic deals on direct to vendor’

‘I do a lot of direct to vendor through direct leafleting’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

Why be in a Mastermind Group? Interview with Halstead Ottley

Sun, 11 Oct 2020 23:00:00 -0000

Halstead has a portfolio of buy to lets, HMO’s, commercial conversions and Serviced Accommodation along with a wealth of expertise and experience and in this episode, he explains how his property journey started, some of the strategies he has used to grow his portfolio and discusses with David how joining the Mastermind Group at Progressive Property moved everything up a level for him.

With Halstead now the newest Mentor in the Deal Packaging Mastermind Group at Progressive, this is a great opportunity to find out about him and some of the hugely successful strategies he has in place with his diverse property portfolio.

KEY TAKEAWAYS

Make sure you have bought a property at a good price, getting a discount is always an advantage.
Buy right when you buy and refinance on the bricks and mortar, not the income
I discovered education and it reignited my passion for property
I’m a huge advocate for getting educated and having a mastermind group
Being part of a mastermind group has helped me to put together joint ventures and understand the value I was able to bring.
Being in a mastermind group means you are with others who are further on in their journey and you can learn from them.
Being part of a Mastermind group helped me to understand the value of not trying to do it all myself.
Having a letting agent and managers for my properties transformed my business.
It’s always about who you surround yourself with that makes a difference.
Every year I have learnt something new through the Mastermind group.

BEST MOMENTS

‘I just gelled with Progressive Property’

‘I finance on the bricks and mortar because the price for houses goes up and down’

‘In 2 years, I turned around my property portfolio’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

Being a Landlord, Lessons Learned and Re-learned

Sun, 04 Oct 2020 23:00:00 -0000

Lots of the time we share about the successes but in this candid episode, David shares about some of the challenges of his buy to let and single let portfolio.

As an investor and entrepreneur, it’s likely you have several things going on and a being a property investor with a portfolio can be as close to a passive income as it gets in business but any issues still need to be addressed when they arise.

David explains the steps he has taken to bring his portfolio back to where he wants it to be explaining how to take action with non-paying tenants and the value of a property-owning guarantor for tenants.

KEY TAKEAWAYS

Now I’ve had time to look at my portfolio I have had to deal with issues including contractors not being paid and rent arrears.
I’ve had to sever ties with 2 letting agents I have had long-standing relationships with.
I’ve got 2 tenants with months of arrears who have not been COVID affected, they just don’t want to pay.
As landlords, we are restricted but you can give 4 weeks’ notice if the tenant is more than 6 months in arrears.
You can serve a section 8 notice on tenants who have 6 months of arrears.
Serving a section 8 clarifies the position for the tenant but they don’t have to immediately do anything.
It signals the start of a process.
You cannot apply for a hearing until December, and then you will be part of a queue but it’s about starting the process.
I’ve made it clear to the new letting agents that I want tenants who have a property-owning guarantor.
A good property in a decent area is difficult to get so a landlord with property in these areas can ask for what they want.

BEST MOMENTS

‘Previously I would have been over everything like an ill-fitting suit but I’ve been distracted and doing other things’

‘You need to close down any issues as soon as they arise’

‘I’m going to pursue them because they have trampled on my goodwill’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

From Property Disaster To Property Master In 18 Months

Sun, 27 Sep 2020 23:00:00 -0000

David is with Kat Kuczynska who has grown a successful property investment company in an area where there are wide ranging properties and ever increasing opportunities.

Kat has faced the challenges of not getting it right when she started out along with growing her knowledge and an effective network on her property journey.

They discuss the realities of doing all the work when you are starting out through to understanding the possibilities and opportunities for investors in your chosen area. This is a great opportunity to hear about how property can be the key to financial freedom if you have tenacity, determination and are prepared to give it your all.

KEY TAKEWAYS

When properties are sorted and running efficiently they are a source of passive income.
Financial freedom and was a key goal and property was the vehicle that could provide this.
Property was the key to finding my way out of the financial challenges I was facing.
One of our strategies is to combine Buy, Refurbish, Refinance and SA
Self-development and wanting to grow is vital
It’s about reviewing and deconstructing past errors to understand what happened and how you can learn from it and do it differently next time.
Networking has been invaluable - look for networking opportunities where there is extensive knowledge and experience in the room so you can learn from others.
Most of my investors came from social media, I continually update what we are doing and post videos of myself completing my day to day tasks.
I originally thought you could only post something very polished but it’s not about sharing the successes it’s about sharing everything including when things are not going to plan.
Showing someone how you are dealing with the issues is far more helpful than lots of posts telling everyone how much money you are making because it humanises the process for everyone.

BEST MOMENTS

‘Always being prepared to undertake further learning has been key’

‘It’s about getting into the shoes of someone else and showing them the way so they have an easier path of progression’

‘I didn’t find my investors they found me’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

Lyra Property Solutions

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

The Power of Your Network – Interview with Cheryl Cain, CDK Lettings

Sun, 20 Sep 2020 23:00:00 -0000

David is with Cheryl Cain of CDK lettings talking about the power of networking. They discuss why your phone book is your business and how Cheryl has developed who she knows both in property and in the wider arena of business.

Networking can take time but will make a huge difference to your business, having a social media presence and attending networking events will all expand the number of people you know and the more people you know the more deals you will be able to do.

KEY TAKEAWAYS

Knowing your area well and understanding every street is key.
Going direct to vendor and having a good network is key in a hot market.
It’s about who you know and your network. Your phonebook is your business.
The more people you know in the industry the more likely you are to succeed.
Get to know people through networking not just in property but in other business areas as well.
Business network meetings are places where you will find successful people with cash who want to invest in property.
Business networking events are about meeting successful people who understand the value of investing in property but don’t necessarily know-how.
You can use property network events to build a power team of people with skills in property
Putting a building team together can be one of the most difficult part of any project.
Building the right power team is very important to your success.

BEST MOMENTS

‘Going direct to vender and knowing people has been the key to doing deals in a hot market’

‘Everyone wants to move to somewhere with a garden, they want to have an outside space’

‘I wasn’t expecting any deals during lockdown but people have approached me to do deals’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

CDK Lettings Facebook

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

What Makes a Property Deal Packager Successful?

Sun, 13 Sep 2020 23:00:00 -0000

What makes some people successful and others not?

David looks at this question and explores what in reality the difference is between the people who desperately want to do it and but can’t and those who can in the world of property.

There are deal packagers out there finding investors and getting deals and they are those who have understood that it’s all about building relationships because all humans in all aspects of interaction move through the process of know, like and trust.

When you are positive, believe in yourself and can build relationships you will be on the journey to building your property business.

KEY TAKEAWAYS

Be positive – it won’t work if you aren’t and it has to come from within.
Building relationships is the key and you have to believe in yourself.
Human beings have to go through the know, like and trust process.
Time spent with the estate agent is about building a relationship of trust, they need to trust you can get the job done.
If you can’t build a relationship with the estate agent you are unlikely to be able to get the deals you want
You have to be a person they want to work with, be credible and professional.
They have to believe you are going to get the job done.
Know your script, be credible, professional and practise, practise, practise.
You may be new to property but you aren’t new to life, you have a wealth of experience before property.
If you don’t believe you are a successful property investor then no one else will believe it either.

BEST MOMENTS

‘The way you believe it is in your head, so practise is everything’

‘I what to serve the estate agent because I want them to want to work with me’

‘Maybe they like you but they don’t have to like you to want to work with you’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

Courage, Consistency and Accountability in Deal Packaging

Sun, 06 Sep 2020 23:00:00 -0000

David is looking in detail at some of the obstacles that deal packagers face when they start out and on the journey to success.

There are people who just run and do it and those who go a little bit more slowly as deal packagers and in this episode, David offers great advice on what makes the difference – courage, consistency and accountability.

He shares how to approach the first phone calls and why you have to put yourself out there and be courageous because it’s the human element that others are attracted to and this along with consistency and accountability are what you need to be successful in deal packaging.

KEY TAKEAWAYS

Courage – you have to put yourself out there and on the line. Picking up the phone, speaking to investors, estate agents and vendors takes courage.
Ask yourself what is holding you back?
It’s the human element that people are attracted to so you need to put yourself out there, be courageous and brave.
Consistency – you are better to do little and often rather than a big push sometimes.
Allocate time every week to do specific tasks and follow this consistently every week.
Share what you are doing on social media and post consistently in engaging bite-size posts.
Accountability – this is what makes it all happen. If you have accountability you will do what you say you are going to do.
You need to feel under pressure to be accountable and an accountability partner, coach or mentor will help you to meet your targets and achieve the accountability that will make the difference.
Put yourself out there be courageous, be consistent and get accountability.

BEST MOMENTS

‘There is only one way to get over the fear of picking up the phone and that is to pick up the phone’

‘You have to be on social media and have a presence. if you post consistently people will follow you’

‘The only way you can fail is to give up’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

Using Social Media to Build Your Deal Packaging Business

Sun, 30 Aug 2020 23:00:00 -0000

Davis is discussing with Adrian Benjamin his breakthrough into deal sourcing and how social media has been the key to making it happen.

Adrian shares his journey and how he has successfully reached out to developers and fosters successful relationships with his investors.

Everyone needs to begin by researching and undertaking the right education to make sure they know how to get started and this episode is a great insight into how Adrian has successfully grown his business during challenging times.

KEY TAKEAWAYS

It’s important to build your network and continue to look for opportunities to expand it
COVID has given me time to focus on the social media element of deal sourcing.
It is important to make sure any video is professional in appearance.
You have to get yourself out there and take action.
It’s good to complete and put out a mix of lives and videos on social media.
Getting your first investor will boost your confidence.
Living in an area means you will have good local knowledge.
Investors come from very different areas and its vital to understand what they want to achieve through investing in property.
Foreign investors are looking for security, cash flow and return on investment.
Areas change and good capital returns are possible on areas being developed.
Working with developers gives me access to their power teams.
I partner with a property management team who will help foreign investors to manage their properties.
I want to get to know my investors and I work to build relationships with them.
Use social media as much as you can, share your thoughts on anything you think might be interesting.

BEST MOMENTS

‘I now have 5-6 developers on board with me’

‘If you lack confidence then begin by writing down what you want to say’

‘People see your passion and if your numbers check out you are able to quickly build credibility’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

Kapwing website

Benjamin & Cole Properties

Benjamin & Cole Facebook

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

What Works With Estate Agents Today

Sun, 16 Aug 2020 23:00:00 -0000

People are struggling to work with estate agents in the current situation and David looks at how things have changed and what you can do to get appointments with estate agents and move successfully forward.

COVID 19 has happened to everyone including estate agents and they are now like everyone else subject to regulations that mean they are restricted in the number of people they can see, it’s all by appointment to make sure they are sticking to the regulations in place.

They have rapidly gone from flatlining into a huge peak because of pent up demand so you need to adapt and change if you want to make sure they will want to work with you, at the moment understanding their mindset is vital.

KEY TAKEAWAYS

They have to be COVID safe so they are having to limit people into their offices.
They are qualifying you so they know they are meeting with those who are serious.
They need to hear from you that you are genuine.
The language you use when you speak with them is crucial.
Be very specific about what you are looking for. If you come across as knowledgeable you are more likely to get an appointment.
Turn up on time and when you meet the estate agent convey that you are an experienced professional.
The world has changed and you need to adapt.
Tell them who you are, explain your specific criteria and give something to get something in return.
It’s all about change and you need to change to survive and thrive.

BEST MOMENTS

‘They want to know they are not wasting their time, its appointment only and there are limited slots’

‘If they don’t believe you they are going to move onto the next person’

‘Not every estate agent is going to want to work with you at the moment’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

Deal Packaging Forever with Violet Harrison

Sun, 09 Aug 2020 23:00:00 -0000

David is with Violet Harrison who has extensive expertise in both property and interior design.

They talk about Violet’s passion for deal packaging and her experiences as the deal packaging space has evolved.

There have been many changes as deal packaging has moved forward from the requirements to be compliant, to the ‘gentleman’s agreement’ being replaced by the terms and conditions that are now a standard part of the process when working with investors. Violet shares great advice on what’s really important for professional deal packagers and some great tips on building great relationships with people.

KEY TAKEAWAYS

BMI is something that if you work at it will work for you but if you don’t put the effort in nothing is going to work.
People make a decision about a property in the first few minutes.
You never know everything there is always more to learn.
You have to be compliant if you want to deal package successfully.
It’s a numbers game and you have to look at a lot of properties to find good deals at the moment.
1 in 3 deals collapses so it’s worth revisiting properties that you lost previously.
It’s a hot market currently so you need to work intensively to ensure you have the right properties for your investors.
When you begin to work with a potential investor there are steps that help to qualify how serious they are.
It’s important to build your network and relationships because deal packaging is about people.

BEST MOMENTS

‘I flipped the first property accidentally and everything has grown from there’

‘I love what I do and will be deal packaging forever’

‘I had a huge network and this was critical’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

Doing What you Love in Property, in conversation with Emerald Fisk - Entrepreneur and Property Developer

Sun, 02 Aug 2020 23:00:00 -0000

David is with Emerald Fisk, entrepreneur and property developer. With a substantial property portfolio Emerald is doing what she loves. She discusses the property journey she has been on and what really matters if you want to be successful in deal packaging and property investment.

This is a great opportunity to hear from someone who has a no nonsense approach to property and getting things done. Emerald shares both the highs and the bits she really didn’t like in this inspirational insight into her property journey to date.

KEY TAKEAWAYS

When people start out in property they overestimate what they can achieve in the short term and under estimate what they can achieve in the longer term.
The mastermind can be all about the unexpected connections and the future possibilities
It important to be a networker and try to give as much as you can because it’s important to not just take from others on your learning journey.
If you are doing rent to rent you need to source in a niche area and if you are able to do this you can source multiple units and can potentially do less deals.
You have to be prepared to invest time in people but doing this will pay off.
If you find yourself doing something you don’t love then you should stop and change to doing something you do love.
I have a few select clients that I trust and have a good relationships with and this forms the basis of my deal sourcing business.
It’s all about how you frame your relationships with everyone.
Property is a very big world and now I help others who have faced the same sort of challenges I did.

BEST MOMENTS

‘I’m trying to buy up Wales and its going well’

‘The possibilities with property are out of this world’

‘You can learn lots from others and this is an important part of any journey’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

Emerald Fisk LinkedIn

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

The Market is Hot. How Can I Get an Offer Accepted TODAY?!

Sun, 26 Jul 2020 23:00:00 -0000

As the pent up demand from lockdown hits the property market David looks at how vendors are currently in the driving seat, with reasonable offers being turned down.

This is a temporary position and as a deal packager, it’s crucial that you keep your credibility so that your relationships and communication with estate agents is positive moving forward.

David explains exactly how to achieve this and position yourself as a professional with estate agents so that you are the person they call when they have a great deal.

KEY TAKEAWAYS

At the moment vendors are in the driving seat and we are in a phoney war before the real battle commences.
It’s key that whilst there is a limitation on stock you maintain your credibility.
If it needs redecorating talk to the estate agent using the retail figures as the basis for cost.
Because you are deal packagers you are able to work at trade prices but at this time you need to be talking retail money with estate agents. You are building a justification for making a lower offer.
You can build in £20,000 in work that needs doing which because you are trade will only cost you £10,000.
In presenting in this way, you are demonstrating you know what you are doing, you are professional, you have experience and know about the numbers.
You are positioning yourself in a professional way to the estate agent.

BEST MOMENTS

‘I’ve seen some really silly prices being accepted for houses’

‘People want to get moving and there is pent up demand from COVID 19 that means there is great demand’

‘You are framing yourself and your offer in a professional way’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

What Do You Want?

Sun, 19 Jul 2020 23:00:00 -0000

David is taking his inspiration from forums, other deal packagers and recent conversations as he reflects on the question ‘What do you want?

It can be easy to make comparisons with others but they are only showing the world what they want the world to see.

The true secret to success is to know exactly what you want and understand that everyone is different, what you want will not necessarily be the same as the person next to you.

If an activity it brings you happiness and gets you closer to who you want to then do it and make it part of what you want.

KEY TAKEAWAYS

It’s not often you get a chance to really think about what you are doing.
Forums can be quite dangerous places because people only show and share what they want you to see.
The only question that matters is ‘What do you want?’
You really need to understand what the answer to the question is.
The secret of success is to know exactly what you want.
What is your vision? Who do you want to be and where do you want to be.
Your vision may not be the same as what you want.
As the cycle of life unfolds your vision, who you are and what you want to achieve will change.
You have to factor in the people who will help you on your journey to achieving your vision.

BEST MOMENTS

‘Don’t make the comparisons because it’s not a fair one’

‘When you spend all day on various forums it can be quite soul-destroying’

‘ Before lockdown, everything was going at a 100 miles an hour and I don’t want to go back to that place’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

Getting A Property Off The Market With An Estate Agent

Sun, 12 Jul 2020 23:00:00 -0000

David explains exactly how to get an estate agent to take a property off the market when asked to by a deal packager.

This is an area that is all about building relationships and having self-belief. It can be a difficult thing to achieve when you begin but it does get easier, if you know exactly what to say and have from the very first contact been building a positive relationship with the estate agent. There are deal packagers who are relatively new who have followed the process and have estate agents falling over themselves to work with them and you can too if you learn the process and remember property is always about the people.

KEY TAKEAWAYS

Property is a people business it’s always about the relationships you build.
It’s all about what you say to the estate agent and how you say it
The challenge isn’t getting properties off the market the challenge is that you are relatively new and are unconsciously projecting that.
You have to practice what you are going to say and how you are going to say it.
You need to build your credibility from the very first contact you have with the estate agent.
Say it like you mean it, with conviction and self-belief.
If you’ve built a positive relationship then asking for 72 hours to then come back with investors details will work for 8 out 10 estate agents.
Go through the process, learn your craft and you will be able to get properties taken off the market.

BEST MOMENTS

‘The pause is a powerful tool in communication’

‘Once you have done one or two deals and if you’ve built a positive relationship with the estate agent they will be happy to take a property off the market’

‘There are people in the community who are new but they have estate agents falling over themselves to work with them’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

I'm New, What can I Do For People?

Sun, 28 Jun 2020 23:00:00 -0000

You have the skills to attract people to you – you’ve invested in your education, grown your network and you do have something to offer. But for those new to deal packaging, lack of self-belief can be what stops them moving forward.

David explains why people will come to you and what you need to do to get things moving in this episode that is a response to the questions David is being asked by some of those new to deal packaging.

You do not have to have the answer to everything, you just need to know where to find the answer and believe in yourself and what you have to offer.

KEY TAKEAWAYS

You need to understand what sort of person you are – are you loud and keen to take action, or are you are nurturing and hope that at some point there might be someone who is interested in investing
You have to see your business moving forward and understand why people will come to you.
What is it that you offer? What value do you bring?
Sometimes new package dealers can go down the rabbit hole and start believing they don’t have anything to offer.

I’ve not done a deal how can I help anyone?

You’ve committed and undertaken education so you have knowledge that you can share with others.
You have, through your training, built a network with people who are on the same journey but are a few steps ahead, they are a source of invaluable advice and information.
You do not have to have the answer to everything, you just need to know where to find the answer.
When you meet a potential investor, your question should be ‘how can I help?’ This will usually spark a conversation that will concrete the relationship moving forward.
Deal packagers are problem solvers and if you help someone once they will have the confidence in you moving forward.

BEST MOMENTS

‘Getting out there across social media is the right thing to do but it can leave you feeling vulnerable’

‘Everyone goes through the process at their own speed’

‘You need to practice repeatedly so you have numbers that you can discuss, take control of the conversation and recognise they are talking to you for a reason’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

The 100th Episode - Mrs S Answers Your Questions

Sun, 21 Jun 2020 23:00:00 -0000

In this 100th episode David’s other half, the amazing Mrs S joins him to answer questions from the deal packaging community about their property journey. This is a journey that has had twists and turns along with ups and downs but has always had clear goals and aspirations.

They answer a range of questions from the community ranging from the roles they each play in the business, the best deal they’ve done, what makes a good property to rent and how to extend a rundown lease.

This is a great insight into how a partnership where the skill sets are complementary makes all the difference and as Mrs S reminds us it’s important to laugh every day.

KEY TAKEAWAYS

The property was flipped in a very short time and we made quite a lot of profit.
We didn’t do anything to it we put it into an auction a few weeks later and it was bought by a builder, we earned 20,000 in 20 days.
A guide price is designed to create interest and it did with 28 viewings and 23 information packs downloaded.
It’s relatively hands-free and I like property because it’s a means to an end.
Property for rental has to be of a good standard but it doesn’t have to be how you would want it to be if you were living there.
We complement each other, I am the visionary and Cheryl is the detail person.
We’ve always looked to make sure we are not overextended or that we have an asset base to cover what we were doing.
If you are at the beginning of your journey go for safer properties that will stand the test of time.
The underlying premise for deal packaging is adding value for the client
Education is key, you have to know what you are doing; you can earn a lot of money and lose a lot of money in property.

BEST MOMENTS

‘It was my first auction and I learnt a lot’

‘We like a bit of capital appreciation’

‘It’s a joint thing and we are working for our family and ourselves’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

David Bennett - From a standing start to an £850,000 deal agreed in 4 Months

Sun, 14 Jun 2020 23:00:00 -0000

In this episode hear how David Bennett of Off-Piste Property started his business and what can happen if you take your property learning and are relentless in your actions every day consistently.

If you are thinking about investing in your own learning and long to do something different this is a great time to get started and David’s journey is a great example of exactly what you need to do and how you can take action and get great results.

KEY TAKEAWAYS

The initial driving motivator was that I had invested in myself so I wanted to take action and move forward.
Rent to rent was a quick way to generate income. You can use the same skills you learn as a deal packager to talk to the lettings team for rent to rent whilst your property deals are moving through the process to completion.
The ‘50 call a day’ challenge - After the first 9 calls where the answer was ‘no’, I was asking myself what can I do differently? the ‘yes’ gave me the buzz to keep going. You have to be relentless in your activity every day.
It’s important to understand it’s not personal, they are saying no to the service you are offering at the time it’s not you
You have to be able to understand the problem and offer a solution.
When you meet someone face to face initially it’s not about a sale it’s about building a rapport and relationship.
I documented my journey on Facebook and this helped people to get to know me.
Networking and being active on social media are vital elements for building a business. My first investor came from the communities I was active in.
You need to remember that you are making an impression wherever and whatever you are doing.

BEST MOMENTS

‘Working for myself was a dream for me’

‘It’s all about the spirit of action and being relentless in your activity everyday’

‘You have to carry on going even when you are pushed back’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

Off-Piste Property Group

David Bennett Facebook

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

What is Actually Going On With Property Prices Today?

Sun, 07 Jun 2020 23:00:00 -0000

David brings together the latest information about the property market and discusses what is going on right now with deal packaging and the market.

As the economy begins to open up again everyone from vendors to investors want to know what’s happening and is asking whether the market will fall. Nobody has an answer but David shares some pointers that may indicate the way forward. As deal packagers its always about getting out there and finding a great deal and those who were doing it before are doing it now.

KEY TAKEAWAYS

Deals are being done and there is an appetite particularly from cash investors for solid family homes
Location is the key; investors want property they can easily get out of or refinance when the market moves on.
The people who were doing deals before are still doing deals now but the frequency of deals has reduced.
The property market is linked to the wider economic landscape
Property prices today are currently holding up
As deal packagers, it’s about placing great properties with investors and being paid for doing this.
Get out there and do what you are supposed to do because are people are finding deals.

BEST MOMENTS

‘Cash investors are pushing forward’

‘We are all students of the economy’

‘Estate agents are saying there is good interest but this may be due to the low volume of stock’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

Confusion, Overwhelm, Time Management is the Key

Sun, 31 May 2020 23:00:00 -0000

When you are starting out in deal packaging the organisation of your day with the many tasks that need to be completed can quickly led to feelings of overwhelm and confusion but there is an answer and in this episode, David shares exactly how you can organise your day and achieve more.

He explains the primary strategies that you can start with and how these can be built on

to quickly establish positive relationships, deals and a successful business.

KEY TAKEAWAYS

Choose a small geographical area to work within.
A big part of time management is understanding and knowing how you work
Any networking is about forging relationships because it’s those working relationships that bring in the deals.
Plan to work alternate weeks, finding deals one week and then sourcing investors for those deals in the alternate week.
Time management is key, you can do a lot if you chunk your time.
Have a physical diary and then block your day into 30-minute time slots to achieve the most.
Begin with the priorities you want to achieve in the day.
Pattern interrupt – do something else in the middle and plan to mix up tasks - to use different areas of your brain.
Diarise your day for every working day.
If you diarise your journey you will have a record of how you built your deal packaging business, a hugely valuable marketing tool.
With time blocking you have the potential to achieve more in your key priority activities every day.

BEST MOMENTS

‘If I can do it you can do it too’

‘Seeing estate agents is about sowing the seeds and I did this daily’

‘Across all my businesses I try to talk to people in the morning’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

Single Lets, Buy to Lets and BRR - a Conversation with Anne Houlton

Sun, 24 May 2020 23:00:00 -0000

David is with Anne Houlton who specialises Single Lets and has grown a portfolio that gives her the income she wants and the flexibility to run her business from anywhere in the world. David and Anne discuss the reasons why single lets are such a great addition to any property portfolio and how they can be a great deal for any deal packager.

The buy, refurbish and refinance model is about finding the value and this works in any market whether it’s on an upturn or downturn, it is the foundation for any property investment.

Listen in and find out how to successfully develop single lets using the buy, refurbish and refinance model in this enjoyable episode.

KEY TAKEAWAYS

You don’t have to leave a huge amount in the property to have a good return on the capital employed.
‘It’s our house but your home’ we want our tenants to feel safe and secure.
The money and passivity of single lets is very appealing.
People always need single lets to live in, it’s the lightest touch with legislation and it’s the easiest route to security.
Any property has to be a warm, safe comfortable home and needs;

-The correct energy performance grading certificate(EPC)

-An up to date EICR - Electrical Installation Condition Report.

-A yearly Gas Safety certificate.

A legionella risk assessment.
You can’t guarantee future capital growth but there is money to be made over the long term.
If you buy decent houses in good areas you will make money from capital growth.
Finding value works in any market. Buy refurbish and refinance is the basic tenant of all property.

BEST MOMENTS

‘It’s only when I got to Progressive that I learnt the buy-refurbish-refinance model’

‘We live off our rental income and I can run our property business from anywhere in the world’

‘Investors know this is coming the market is going to dip, but at the moment vendor expectations haven’t yet caught up’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

Anne Houlton LinkedIn

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

Direct Marketing for Deal Packaging That Gets Results

Sun, 17 May 2020 23:00:00 -0000

David is with Katy Wilson who has built a hugely successful Deal Packaging Business and is also a trainer in the Progressive Property Training Program.

Katy and David discuss the importance of marketing and the most productive ways you can market in the current unusual climate.

Direct marketing, if done properly, can generate great leads and Katy shares her direct mail marketing process in this episode packed with value. If you want to hear about a marketing system that can bring on average 22 leads from 200 letters then listen in now.

KEY TAKEAWAYS

The golden nugget with direct mail is to personalise it as much as possible – the letters appear to be handwritten; this is achieved through software.
The key takeaway is to personalise the letters.
You want people to open the letter because they don’t know who it’s from.
It’s all about systemisation, research the specific area and detail about the property
The letter is completely different for each house through the use of mail merging
It’s about using the technology that’s available.
Every letter has a stamp on it, not business franking which is a clear indicator of direct mailing.
We target properties that have been on the market for over 90 days and those that have been reduced along with those sold subject to contract that have been relisted.
It’s about it being as personal as possible to that vendor

BEST MOMENTS

‘Each one of my letters is personalised because I’ve done the research on my vendors’

‘My template letter is the amalgamation of all the best advice from the top property investors’

‘22 leads per month from 200 letters as an average will result in one deal per month’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

Katy Wilson YouTube

VentureWilson website

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

Activity. Don't Just Sit There Do Something

Sun, 10 May 2020 23:00:00 -0000

David goes through the reasons why you need to stop procrastinating and get on with your deal packaging business.

With ‘ Desktop Deal Packaging’ now available, David has been looking at what you can do now. He shares great advice on free resources that a motivated deal packager can be using now to build their business.

Deal packaging is a people business and you can still reach out and build the relationships that make a difference, listen in, stop procrastinating and get started now.

KEY TAKEAWAYS

I can’t start because – I don’t have a website, I don’t know what to charge, what about registering for VAT? Stop procrastinating and do something.
You can source investors and property now and get the tools in place that will make a difference.
Ring estate agents, some will have out of office messages but if you keep going someone will pick up and they could have the property you need.
Create a spreadsheet and start contacting landlords through the classifieds.
Get on the Facebook market place - there are properties being purchased, sold and rented. Look online and start scraping data.
Put a direct mail campaign together, if you do it properly direct mail campaigns work well.
This is a time where you can get the important tools in place to build up your deal packaging business.
If you don’t do anything you are not going to get any deals

BEST MOMENTS

‘You need to get a deal before you can charge a fee so focus on getting the deal first’

‘It’s all about doing something now and being motivated’

‘You can get out there in the classifieds and it’s free’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

Show Me The Money, Who is Lending Today?

Sun, 03 May 2020 23:00:00 -0000

People are doing Property deals so David is sharing great information about lending, right now, in this time-sensitive episode packed with great content as we try to navigate our way through the unprecedented situation we are all in currently with a global pandemic.

He discusses an article from ‘Mortgage Solutions’ and explains exactly what is currently going on with the products available, the criteria in place and why you really must work with a great broker. This is a snapshot of where we are today and what’s available right now, you can’t afford to not listen.

KEY TAKEAWAYS

More than 85% of ‘buy to let’ lenders who were active before, remain in the market today although their criteria and products may be more restricted currently. Only 14% of those in the market previously have withdrawn from the market.
Access a knowledgeable broker who will be able to find the best deal for you they will know exactly who is doing what.
Lenders offering ‘buy to let’ tracker mortgages have fallen but you and your investors still have a choice with lenders.
Both first-time landlords and portfolio landlords still have many opportunities
Different lenders are de-risking against different kinds of landlord borrowing, some have limited their products whilst others are working with restrictions. But a good broker should be able to find you a competitive deal.
Lenders are now moving the valuation to the end of the process. Everything for the mortgage application will be completed before the valuation.
There is liquidity in the market, the money is there when things are ready to go. You can spend the time now, building your investor base and the relationships you have with estate agents.

BEST MOMENTS

‘Some lenders withdrew temporarily but are now back in the market’

‘There are great brokers out there’

‘You and your investors still have a choice with lenders’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

The Complete Package – Sourcing Through to Letting

Sun, 26 Apr 2020 23:00:00 -0000

David is with his business ‘partner in crime’ Adam Seal Sourcing and Development Manager at Progressive Lets. They have worked together across multiple projects and discuss the relationship between investors and the letting agent and take us through the process from acquisition of a property through refurbishment to letting.

It’s all about the relationships and processes and Adam has extensive expertise and experience developing both and shares some great advice that can be used effectively by anyone developing property for investors.

This episode is a great insight into how working effectively together with trust and effective systems is the key to success for good property deals and investment.

KEY TAKEAWAYS

It’s good for investors to know everything is in the same place, a bricks and mortar office along with good systems and processes means everything runs smoothly.

If you source a property, work out the numbers and have the right contacts for trades to carry out any work then you are in a position to offer something to an investor.

We work with the investor to get them what they want and the numbers they are hoping for.

Good numbers are about knowing the area. You will know what will be good and how a property will perform moving forward.

Find out exactly what the client wants and how this can be achieved.

Keeping a detailed database means you build valuable information about how properties have performed.

When you are converting to an HMO its vital that there are detailed instructions for the builder, this saves both time and potential errors.

With a good system in place, you can provide the builder with detailed drawings and a specific list of products to use. This ensures projects are on budget and on time meeting the expectations of the investor.

It’s all about the people you are working with.

BEST MOMENTS

‘It’s a massive plus being able to manage a property through to letting’

‘Each room has a room plan on the wall to make sure everyone knows exactly what is required’

‘I’d rather have too much paperwork than not enough’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

Key Deal Packager Questions Answered

Sun, 19 Apr 2020 23:00:00 -0000

This episode answers some of the key questions anyone new to deal packaging will be asking and is the outcome of a conversation David has been having with Trish – who is herself new to deal packaging.

These are the real deal – as David answers her questions in this great episode packed with value.

If you are starting out it can seem as if you have endless questions that need answers -listen in and hear the real questions and the answers you need now to get moving and make your deal packaging a success.

KEY TAKEAWAYS

To define your investor, you have to fact find and build a relationship so you know exactly what they are looking for and why they want to work with you.
Build credibility with your investor and get face to face even if it’s virtually.
You have to know how much money they have to spend and the source of the cash.
If they want a deal they will go through the process of getting to know you. If you’ve done it right they should not pull out of the deal because there will be a relationship of trust.
In general terms deal packaging is trading, if you are going to set up a trading business doing this through a limited company is the accepted approach. Speak to your accountant
The SIC code – applies to a limited company and defines the activities of the company.
You will need professional indemnity insurance. Then join a property redress scheme either TPO (the property ombudsman) or the PRS (property redress scheme)
Register online for the ICO. You will have people’s data so you need to look after it and be compliant with the requirements of GDPR. Register with HMRC for anti-laundering supervision

BEST MOMENTS

‘Virtually all investors use mortgages at some point either before or after the initial purchase’

‘You have to come across as someone who knows their area’

‘There are just less experienced deal packagers and more experienced deal packagers’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

What is going on NOW in my DP Business? You need to know!

Sun, 12 Apr 2020 23:00:00 -0000

David has been getting in contact with other deal packagers and is sharing what the perspective is right now at a time when change is a daily part of all our lives.

Many may have thought the property market would be at a standstill, paused completely as we all stay at home, but this is very far from what is actually happening.

David explains what deal packagers, estate agents and investors are doing right now and although the volume is not there, there are investors out there who want to buy.

Cash buyers are looking for discounts and it’s all about vendors coming to terms with how it is now and alongside this, some providers have reinstated their buy to let products, listen in and find out exactly how it’s all working and what you as a deal packager should be doing right now.

KEY TAKEAWAYS

There are cash buyers out there and there are providers who have reinstated their buy to let products.
You can get a 75% loan to value but where is the value?
Either the vendor needs to reduce the price or the investor needs to put down a bigger deposit.
When the market returns it is likely that vendors will have a higher expectation of what their property is worth than an investor will want to pay.
Until vendors are prepared to accept the market is different and lower than it was before COVID19 then the market will remain slower.
The market will be driven by the low valuations of the banks.
At some point, people will have to move and investors are going to be able to pick up properties at good prices.
Estate agents are now reaching out to deal packagers because they need to sell houses and they know deal packagers have investors who are ready to purchase.

BEST MOMENTS

‘Investors are ready with the money but they are being very private because they don’t want to be perceived as benefiting from the current situation’

‘The appetite of investors has simplified there is a focus on buy to let and single lets’

‘We are keeping close to our investors’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

What is Property Worth Today? The Potential & Power of the Virtual Valuation for Deal Packagers

Sun, 05 Apr 2020 23:00:00 -0000

In this huge time of change, there is lots of confusion in the property market and the question David is asking is ‘Can you value a property accurately without visiting it?

With extensive expertise and experience as a deal packager David has a proven model but in with the challenges we now all face he explores how you can do a viewing virtually? and how a valuation can be successfully achieved virtually?

Face to face business has stopped but this doesn’t mean you need to stop as a deal packager if you adapt and move in a different direction and this episode explains in detail how you can achieve this.

KEY TAKEAWAYS

When sale and rent back was possible national property acquisition companies used photos from the vendor and local runners to provide information and always bought with a mortgage so there was a bank valuation.
All of these things together photos, mortgage valuer, local input along with a healthy discount meant there was no risk involved.
Today a video walkthrough completed by the vendor of any property is possible and use of the land registry to track sold prices in the locality and google research can provide enough information for a valuation.
House purchases whether residential or as an investment are still the biggest thing you are ever going to buy. I would never sell a house to an investor that they haven’t seen at some point. Although they are buying the arithmetic and the return on their capital they are still large purchases.
I’m going to try to do virtual viewings and virtual valuations initially with investors who I know are going to be looking for mortgages so I’m followed and back up by the bank’s valuer, virtually speaking. This could completely change how we as deal packers operate. We can do everything online so there is no reason why you can’t continue.

BEST MOMENTS

‘I’ve previously been an advocate for always having a look, visiting the property’

‘We knew the vendor wasn’t going to show us the bits they didn’t want us to see’

‘I don’t think we are going to have a massive slump in the market’

‘We should factor in a pause in the market, this could be ‘V’ shaped with a downward turn now followed by a steep increase’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

https://www.linkedin.com/in/david-siegler-7b126316/

My COVID 19 episode

Sun, 29 Mar 2020 23:00:00 -0000

How is Covid-19 affecting the UK property market? Will there be an enduring recession? According to our host David, it’s still too early tell what will happen. But it’s best that we are all prepared. Especially if you’re still paying for your mortgage, a landlord whose primary income comes from renting or you’re planning to buy property.

In this episode of the Property Sourcing Profits Podcast, David suggests some safety measures you can do amid the global health crisis. He also talks about the various options and help there is out there for businesses.

KEY TAKEAWAYS

If you’re a landlord whose major income stream relies on the rent of your tenants, then you better plan. In such a crisis, where there are also layoffs happening, it’s best to find an alternative. What will happen if they aren’t able to pay? How do you afford your necessities and pay your other dues? Be prepared.
Contact your tenants and see how they are. If you already have non-paying tenants, ask for proof of their loss of employment. Be open-minded to some alternative payment plans if this is the case.
Report non-payments to lenders. They need to be informed if there will be a delay.
If you’re in the serviced accommodation or guest house hotel business, apply now for a grant to support your business.
Check if you can access the 12-month business rate holiday by emailing your local authority.
Also, the government has setup a coronavirus business interruption loan for those who will be vulnerable during this pandemic. Businesses can easily borrow loans with a 12-month interest period. Contact them.

BEST MOMENTS

“It’s not a rent holiday. They’re not excused to not pay rent.”
“Minimise the damage.”
“You must try and pay your mortgages. You must not get in trouble with the banks.”
“People will want to buy property in the downturn.”

VALUABLE RESOURCES

ABOUT THE HOST

CONTACT METHOD

The Importance of Being a Landlord

Mon, 23 Mar 2020 00:00:00 -0000

Many business owners, and especially property business owners, are feeling a growing sense of fear about the current issues in the world.

In a very timely episode for anyone in property who might be concerned about what comes next, David offers some tips and guidance on how to run your portfolio so that it works for you and everyone else during these troubled times.

KEY TAKEAWAYS

We need to find a balance between our private business needs, and our public awareness.
David’s awareness came when he realised that he is essentially serving a safe haven for families and tenants in his properties.
We need to remember that in times of crisis, it’s okay to think of yourself, and prioritise the things that you need.
The best way to protect yourself right now is adjust that mind-set. This will be over before you know it. When it’s gone, open up those shutters and get moving!
If you’re setting up a new tenancy these days then make sure you get a guarantor for each and every one of them.
People think that Section 8 notice can be served on a tenant when they are two months behind on their payments. But that’s not quite true. It can be served upon the second missed payment of rent, which may be much sooner.
When you attend a Section 8 hearing, it’s important that you make sure you know what your rental day rate is.
Section 21 does not have a money order. You’ll get possession of your property, but not necessarily your money.

BEST MOMENTS

‘Sure, we all want to make money. I get it’

‘You only know the good times were good times when they’re finished’

‘You’ve got to be strong to give strong’

‘Why should the onus be on the landlord?’

‘You’ll know more about the Section 8 than the judge does’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

Get Into Property - by David Siegler - https://www.amazon.co.uk/dp/1909846589/ref=sr_1_6?keywords=David+Siegler&qid=1570019066&s=gateway&sr=8-6

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

Just Send me Something. Why That is Not Enough

Mon, 16 Mar 2020 00:00:00 -0000

Anyone who’s had any experience in deal packaging will know that the often-used statement from investors “Just send me something!” is never enough. It’s far too passive, and mostly ends up in a no-deal situation.

With David’s help, and by following a few easy steps, you can turn “Just send me something” into a moneymaking deal for both of you. In this week’s show, he’ll tell you how…

KEY TAKEAWAYS

When you meet people at networking events, there’s a tendency to say things you don’t necessarily mean. The key is to qualify these promises.
You need to gently find out from your investor a few kay facts that’ll help you to get on the right track:
- What are their goals, dreams and aspirations?
- What is their financial criteria?
- Do they want to work with you? Will you pay me for my valuable service?
Use the compliance qualifications that we achieve in order to become a deal packager, to qualify your investor. Tell them that you are happy to send them a deal, but make mention of your compliance, and that you need some information in order to go ahead.
Ask for the following items before you proceed:
- Proof of address (Utility bill or bank statement)
- Picture ID (This can be seen at a subsequently arrange meeting, which can also solidify your relationship)
The act of setting small hurdles at the outset of your dealings, will also prove that your investor is serious, and that they don’t mind working to the beat of your drum.
Make sure that your investor has enough money to invest seriously, as your time is precious. A nest-egg might seem large to some investors, but it might not be enough to make a serious investment with.
The crucial final step in this initial process is to make it clear that you are providing a service, and that your fees for providing that service are acceptable.

BEST MOMENTS

‘Of course you should go to networking events’

‘We’ve got to get you through that barrier, over that hurdle, over the pothole’

‘You have to know what people want before you go out and look for deals for them’

’Are you prepared to pay me for me to go out and source you a fantastic deal?'

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

Get Into Property - by David Siegler - https://www.amazon.co.uk/dp/1909846589/ref=sr_1_6?keywords=David+Siegler&qid=1570019066&s=gateway&sr=8-6

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

What to do When Yields Tighten

Mon, 09 Mar 2020 00:00:00 -0000

‘I’m on my fifth property cycle’

David shares his considerable experience and expertise answering the questions deal packers are asking about how to deal with strong growth in house prices.

He explains how to get creative and explains exactly how and what you should be doing as a deal packager.

There are still great deals out there if you utilise your team and property knowledge effectively and really understand what you are doing.

David has experienced the property cycle several times over as a property investor and the content he shares in this episode is invaluable, listen in and hear more.

KEY TAKEAWAYS

Forced appreciation in prices since the election means houses prices have increased.
How can a deal packager manage this?
Who is your power team – when you are selling a property with lower gross yield than you are used to, make sure you have the best letting professionals in your team
You can have a conversation about capital growth, it’s capital growth that makes people wealthy
Talk about capital growth in your area over the last 12 years – this will show significant growth and will include a property crash
You need to find out about regeneration in your area because this results in forced appreciation – prices will go up
Use your property education to be creative and layer things on and make sure every investor is getting the best return possible from the property e.g. can a single let be turned into a multi-let?
Get out there and find out why investors should invest in your area and are you an asset to your investors?

BEST MOMENTS

‘There is currently really strong growth’

‘Make sure your lettings professional is professional’

‘Maximise the return - a good tenant over 12 months is the best scenario’

‘Talk about the pattern of capital growth in your area’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

How to Work Out a B.M.V. Offer (Below Market Value) The Right Way?

Mon, 02 Mar 2020 00:00:00 -0000

David uses two case studies to illustrate exactly how to work out a below market value offer the right way.

He has been working with 2 new deal packagers who are part of his community and uses his considerable experience in deal packaging to explain the process and calculation that needs to be done to make sure the numbers add up and it is really a good deal and has taken into account all costs involved.

KEY TAKEAWAYS

Deal packagers sometimes want to make BMV offers.
If you are going to do Below Market Value (BMV) you should be doing it in this way.
Always work backwards from the final uplifted value of the property.
Ask what can be done to add value to this property?
It may be decorating, or refurbishment, the cost of this should be deducted from the final uplifted value.
All costs involved in purchasing the property must be accounted for.
When you work backwards from the final uplifted value taking into account all costs, including your deal packaging fee you will arrive at the offer price you can make.
If an offer price is lower than the asking price then there may be other factors such as the vendor requiring a quick sell that will influence the offer price the vendor will accept.
With BMV (below market value) you have to start with the end uplifted value of the property and work backwards to arrive at the offer price.
Always work your offers out backwards.

BEST MOMENTS

‘When you are starting out BMV may be something you want to do when you are talking to investors’

‘We are really trying to buy a five-pound note for £3.77’

‘My work involves working with investors on bespoke deals’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

How I Started Deal Packaging

Mon, 24 Feb 2020 00:00:00 -0000

How Did I Start Deal Packaging?

In todays episode, David explains his journey from buy-to-let investing in 2004 to Deal Packager. He says it started sort-of by accident!

David describes the baby steps needed to start Deal Packaging and how he started himself! David describes that this is not just his story, that it is quite a common one in the property world.

“The power of Deal Packaging is that you can tag it onto any other strategy… and the deals that don’t quite meet your criteria… you can pass on to a third party and get paid a fee”
-David Siegler

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

Am I Worth it? As a Deal Packager, What Should I Get Paid?

Mon, 17 Feb 2020 00:00:00 -0000

‘What Should I get paid?’

In this episode, David answers the question all new deal packagers are asking

It can be easy to not put a high enough value on your time and effort but as David looks in detail at the extensive work that is required to source property and give the investor a deal that will work for them he brings clarity to the work that a good deal packager completes for every deal they do.

If you are starting out in deal packaging then this episode is a must as it frames the many elements of work a deal packager undertakes as any deal comes together. An investor has chosen a deal packager because you are the expert and can get them what they want so it’s important to value what you are bringing to any deal and monetise it.

KEY TAKEAWAYS

You invested in education for yourself to be a deal packager
You have made a cash and emotional investment
You have set up your business and there is a cost to doing this
You have invested in being compliant.
You have to monetise what you have spent to get started
Sourcing properties
Your local estate agents will enjoy working with you and you will need to spend time viewing properties, researching the area and finding out about local services
The deal packager does a huge amount of work preparing any potential deals for the investor.
Finding investors
The other work deal packagers undertake is sourcing investors and building relationships with them, this all takes time -your time as a deal packager.
When you have attracted investors and have a potential property you have to complete the deal this involves the deal packager chasing those involved to get the deal completed.
This involves working with estate agents, letting agents, builders and solicitors.
When you do the work the first time it can be daunting but as you move forward you can systemise and build your trusted power team.
As the deal packager, you do all the work and the investor gets fantastic cash flowing property that will work for them and grow in value forever.
Deal packaging is a fantastic way to get cash into your property business but you must value your education, learning and the work you do.
Look at the value you bring to both the vendor and investor

BEST MOMENTS

‘The deal packager has a lot of work to do’

‘If the investor wants to be hands-free then you will be setting up a reputable letting agent’

‘What is your worth to an investor who wants to build a cash flowing investment?’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

Where Should I Source Deals to Make a Quick Start?

Mon, 10 Feb 2020 00:00:00 -0000

David, has this week been asked by one of his community - Where should I go, where is my gold mine area?

There are different answers to this question depending on whether you are and experienced property investor or someone new to deal packaging and property.

In this episode, David explains exactly how you can source deals and get the best deals when you want a fast turnaround, whether you are an experienced property investor or new to property and deal packaging.

There is something for everyone in this podcast so listen in and then use the great content and advice to make a fast start and source great deals for your investors.

KEY TAKEAWAYS

Experienced people

Where do I find the best deals for a fast turnaround?
If you are an experienced investor with a portfolio you should be packaging deals, even if it’s not your main business.
The best deals are in an area where you have contacts
An area where you have builders, letting agents and great relationships with estate agents.
Use the area where you have built your own portfolio and leverage your contacts to find great deals for your investors.
The quickest turnaround if you are experienced is to work on your own area and go about it as if you are looking for deals for yourself.

New People

You should research the area you are going to work in and provide information that will answer the sorts of questions investors will have.
What is the population? -the bigger the place the bigger the infrastructure, the services and support.
Is it growing rapidly? – growth is a great indicator that there will be a demand for different types of investment properties.
How have house prices changed? – is there is a proven track record of house prices rising in the last ten years even through a property crash?
What regeneration is planned, or is already taking place? – this is all about the potential expansion of the area.
What is unemployment like in the area? – this will give an indication of who an investor is likely to be renting to.
Find out about commuter times and lifestyle opportunities as this will also help the investor to understand the area in more depth.
Layer all these things for the investor, a single element is not a deal maker but together they make a compelling argument.

BEST MOMENTS

‘I knew I had a resource I just didn’t know how to channel it, but I do now’

‘What is cash flow going to be like for your investors in your area’

‘What can you show that happened in the past that makes it a good place to invest’

‘Cashflow is great but what makes us wealthy capital growth’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

Top 5 Tips to Get Started in Deal Packaging

Mon, 03 Feb 2020 00:00:00 -0000

If you follow these tips you can start making money straight away, other people are doing it so can you’

David shares 5 top tips for deal packers starting out that they can use right now.

 So…… if you get busy and get started, don’t change the area you are working in, change the strategy to make it work, remember it’s a people business, network like crazy and always follow up then you can start making money now. Using these great tips there are deal packaging entrepreneurs out there in deal packaging world making money today and so can you, listen in and get started now.

KEY TAKEAWAYS

Be busy – you ve got to do something you’ve got to make a start and at the beginning, it’s better to be a busy fool

Get out there and tell everyone you meet what you are doing, tell everyone you know what you are looking for.  

Go in and bother the estate agent as much as you can face to face is best and you need to keep doing it so they will then come to you.

Do not change your area, change your strategies

Sourcing properties for investors works anywhere, property professionals are buying property all over the country today.

They might be buying for cash flow or capital growth as this is what makes you wealthy over time.

You want capital growth in your business and your investors need capital growth.

Its a people business

Your core skills have to be building relationships with people. you should build relationships that mean people come to you. You need to present yourself as honest, competent and trustworthy, a good relationship is one where you are the first person they think of.

Get online and talk about what you are doing and if you haven’t done any deals yet talk about the potential deals you are going to do

Network

Get to all the network meetings you can. Go to business events and network meetings – at these events, you will find successful people who have made their money through business then you can provide a ‘bricks and mortar’ solution to increase their wealth.

Take any invitation to be seen and heard and network, network, network

The follow up

The money is in the follow-up. You’ve got to build relationships and position yourself as the go-to person who can fulfil the investor’s dreams, desires and wishes.

Regular contact is key vendors and estate agents on one side investors in the other

Whoever it is you must follow up if you want to build positive relationships and be successful.

BEST MOMENTS

‘Network your backside off’

‘If you badger the life out of people they will put you first’

‘The most important thing is to talk to people -  if you get it wrong put it right straight away,

It won’t be the first time an estate agent has had the conversation or a deal fall through’

VALUABLE RESOURCES 

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

I’m New, David! Where Do I Find My Investors?

Mon, 27 Jan 2020 00:00:00 -0000

Always eager to help you take your property business to the ultimate level, David this week answers one of the most common questions thrown his way: “David, I’m New! How do I build my brand so that people come to me; so that they know who I am - where do I find investors?”

Finding investors seems like a tall ask at the beginning, when you don’t have a reputation to speak of. How do people with money know that they can trust you?

It’s all about building credibility, making connections, creating content and building a brand, and in this episode David tells you how to do it all!

KEY TAKEAWAYS

Social Media - We are all marketeers and should constantly be marketing ourselves and our businesses, and social media is a cheap and effective way of doing it.
Facebook is David’s preferred way of marketing himself on social media. Get yourself an account and join as many property groups as you can. Learn about the culture, and learn about the people!
Engage with the groups you join. Let them know who you are and that you are there. Sometimes it’s as simple as making sure your profile picture is you as a person, and that you look like a nice person to engage with.
Creating content is a huge part of the process. If you think you haven’t got enough material or imagination, then think again. You have a journey, so use it! Tell people about you. Tell them about what you’re doing, and where you’ve come from.
Newsjacking - A reaction to news or current events. These make great social media content, and can get you noticed very quickly. Pick a current situation in property and tell the world what you think.
Property Network Events - These can be a great way to meet fellow landlords, and find out what their concerns are. You can use their input as fuel for your content. It’s a quick way to get a sense of what’s concerning people like you in today’s market.
Video is an incredible way to entice interaction with your audience. And once you get a feel for it, you can dive into the world of Facebook Live broadcasts. The most important thing to remember about Live broadcasting is to make sure you know what you’re going to say before you start doing it.
If you’re doing a Facebook Live, get started the moment it starts. The Live will be saved and shared later, so make sure it’s interesting from the beginning. And make sure you’re talking to the camera, and not the screen itself!

BEST MOMENTS

‘We're all good people, right?’

‘Fake it till you make it? No, no no! We don’t do that!’

’This is about you promoting you as a property professional’

‘Why should people be attracted to you?’

‘In this business, people buy people’

‘You’re getting real-time property advice from real property people’

‘You want people to see you face-to-face'

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

Get Into Property - by David Siegler - https://www.amazon.co.uk/dp/1909846589/ref=sr_1_6?keywords=David+Siegler&qid=1570019066&s=gateway&sr=8-6

Podio - www.podio.com

Zapier - www.zapier.com

Answer - https://www.answer.co.uk/default.aspx

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

Positioning Yourself & Effectively Selling to Investor Clients on ‘Patch’

Mon, 13 Jan 2020 00:00:00 -0000

‘I’m positioning and layering credibility at every point by explaining what you need to run an HMO successfully’

Its 2020 and David is back at work deal packaging and in this episode shares the process and a detailed template for selling an HMO to investor clients.

This is a great episode that takes you step-by-step through the process from the moment you first take your investors on ‘patch’ with David explaining in detail how you can keep selling your credibility and the deal package effectively throughout the visit.

KEY TAKEAWAYS

There is a process of selling an HMO that begins the moment you make contact with potential investor clients.
Invite potential clients to the office because this builds credibility.
On arrival at the property talk about the street and the relevant proximity to useful facilities and locations. This should be done in a conversational manner, continuing to build rapport with the potential investor client.
Having a floorplan means it is much easier for the client to see the direction of the work and how refurbishment will result in a functioning HMO.
Make sure you know the rules and regulations that must be met for an HMO. This will demonstrate to the investor that you have expertise in the area of HMO.
If you are going to package HMOs you are going to need to prove to the investor that you can produce the final project
You need the right people if you are going to package HMOs you need;
A builder, who is competent, capable and you can trust.
Possibly a structural engineer if you are making alterations.
An architect to draw up plans and produce the building control documents.
Contact with the right financial person, for an HMO this will be a commercial broker or someone who has access to commercial finance.
Every investor will ask ‘how much can I get out?’ and you need to be able to provide an answer based on the numbers and your experience.

BEST MOMENTS

‘I’m fully confident about Progressive Lets and their ability to manage lets’

‘A six-bed HMO is the sweet spot as it doesn’t require planning’

That is professional and the way you should do it

‘If you want to package HMOs there will be stuff in here that you will want to include in your presentation’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

Getting a Property Off the Market

Mon, 30 Dec 2019 00:00:00 -0000

Getting it off the market you can do it!

It’s a problem that comes up time and time again - The problem of getting a property off the market when it’s with an estate agent.

In this episode, David focuses on the strategies you can use effectively to get a property off the market.

New deal packagers think it’s a big leap for someone to provide them with proof of funds but a serious investor will have no problem with this and a good relationship with a local estate agent makes all the difference.

Everything can seem so unachievable when you begin as a deal packager but when you have 6 investors committed to you and 6 deals coming in every month it takes the pressure off.

Getting a property off the market is a problem only newcomers get, once you have deals in the pipeline everything is much easier and you will be on your way to successfully deal packaging, listen in and get started!

KEY TAKEAWAYS

Have proof of funds before you speak to the estate agent. This is the best way to go forward.

Make sure you find your investor first and have met them several times.
You know exactly what they want and that they will work with you to buy deals you source.
As a compliant deal packager, you can ask for information including;
Proof of identity
Proof of address
Proof of funds and where they have come from
You will know if the investor is a cash buyer or a buyer with a cash deposit seeking a mortgage.
It’s all about the relationship you have with the investor and being comfortable asking the question.
Buying time - On occasion, you may see a property that you think your investor will be interested in and you need to buy time to speak to them.
If you have a good relationship with your local estate agent they may take the property off the market for 72 hours because they have faith and confidence in you placing the deal.

Have a great relationship with a local estate agent

If you have 2 local estate agents who are committed to you then you have a business
Once you have proved your credibility then the estate agent will begin to source properties for you, bringing properties to you that you can sell

It’s all about the hustle

If you don’t have a great relationship or proof of funds then it’s about the hustle.
You have to try and blag it. If you believe that you can sell the deal you have to do whatever you have to do to get a 48-hour window.

BEST MOMENTS

‘Even if things go wrong they won’t think badly of you because you are doing it the right way’

‘When it’s so important, when it’s so serious, when it’s your first deal or you’ve only got one deal everything takes on a degree of importance that it doesn’t really have’

‘You have to play the game and not take it too seriously’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

It’s Christmas! Find Those Investors and Find Those Deals!

Mon, 23 Dec 2019 00:00:00 -0000

David is sat under his tree wearing his Santa hat, reflecting on the last twelve months, readying himself for 2020, and readying himself to share some deal-packaging wisdom.

Deal packaging is very simple. It’s about finding an investor, finding out what that investor wants, and the finding a deal that meets that criteria. This week’s episode is a Christmas gift for you; a brief guide on finding those investors and finding those right deals!

KEY TAKEAWAYS

Pick two property network events near you and attend them every single month! If you go every month you’ll soon become a part of that community. You’ll sell deals so much easier.
Build your brand online. Facebook still rules. Post from day one, and tell the world about your deal packaging business. Post at least three times a week.
Visit two estate agents over the Christmas period. Practice what you’re going to say and find two offices near to where you want to operate, but not IN the area. The first few times will be clunky, but you’re only there to hone your script!
Letting Agents are key to the success of your business, as investors like agents to take care of properties on their behalf. Build relationships early.
Google Docs, Zapier, Podio and Answer are systems will make your life so much easier, and which will automate many of the most distracting, time-consuming tasks that consume your day.

BEST MOMENTS

‘If you’ve got investor and you’ve got deals, then you have a business!’

‘It’s Christmas, right? We want to keep it nice and simple’

‘Maybe that’s why you’re tuning in, because it’s real’

’Systems are going to make your life so much easier’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

Get Into Property - by David Siegler - https://www.amazon.co.uk/dp/1909846589/ref=sr_1_6?keywords=David+Siegler&qid=1570019066&s=gateway&sr=8-6

Podio - www.podio.com

Zapier - www.zapier.com

Answer - https://www.answer.co.uk/default.aspx

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

What is BMV? It Doesn't Exist Right?!

Mon, 16 Dec 2019 00:00:00 -0000

David discusses what a BMV property is and what a OMV property is and discusses how he doesn’t understand what they are. In this episode he also discusses his strategies and what concepts he does and doesn’t include in his business.

KEY TAKEAWAYS

What does below market value mean? We’ve all researched prices and what we think properties are worth.
You can have a street where properties are sold at completely different prices.
Properties that are a lot cheaper but need a large amount to do the property up or fix it then it’s not a BMV property.
A property that you can buy for a lower price but is in the same condition as the more expensive house is a BMV. But that’s so rare to find now.

How do we ensure for our investors that we’re getting a BMV deal? Do this by adding value.

BEST MOMENTS

‘What is the open market value’

‘Add value’

‘BMV is not a concept that’s in my business’

‘Don’t worry about BMV’

VALUABLE RESOURCES 

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

Getting Deals From Estate Agents – Do It Like This!

Mon, 09 Dec 2019 00:00:00 -0000

When you’re starting out, it can be tempting to just rush out there and source as many deals as possible. But hold your horses!

There is a process you should be following, especially when it comes to dealing with estate agents, and in this episode David explains what it is, and why it matters.  

KEY TAKEAWAYS

Find your investor clients first! That should be the first step in any deal packager’s new venture. Find out what their criteria is, and then you can find the types of deals that they will buy.
Equally as important is to find out what kind of deals they DON’T want. You can cross off half your potential deals when you know this, saving you huge amounts of time.
Are you asking your estate agents the right questions? Are you giving them the right information? It’s a game of chess; you need to use the correct strategy. Building relationships is key.
If you don’t have investors in place, and you keep asking estate agents to take you out on viewings, when you have way of securing or selling the deals, then they’ll write you off as a time waster.

It’s a good idea to meet the vendor at the property. It’s a people business. You’ll find out way more about the vendor’s circumstances, and you might learn more about the property than you would from an agent.

BEST MOMENTS

‘For some reason, when people are new to deal packaging, they don’t do it that way round’

‘You’ve got to know what you’re looking for’

‘It’s really important that you do it the other way around’

‘If you know what you’re looking at, and you’re specific with your estate agent, then you’re going to get a much better relaltionship going’

‘It’s a people business!'

‘Viewing the house is not about viewing the house’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

Get Into Property - by David Siegler - https://www.amazon.co.uk/dp/1909846589/ref=sr_1_6?keywords=David+Siegler&qid=1570019066&s=gateway&sr=8-6

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

Questions You Need to Have Answered if You Are New to Deal Packaging

Mon, 02 Dec 2019 00:00:00 -0000

‘Anyone new to deal packaging is probably asking these questions in their head but might not be sure about where to find the answers’

In this episode, David answers questions from a new deal packager. These are the sorts of questions anyone who is new will have wanted to know the answers to;

How do I find a deal? How long does should I spend looking for a deal? When will I get paid? What stops someone stealing my deal? How do I find an investor? Are the skills needed to joint venture and deal package the same?

Listen in and find out the answers to these questions and more in this informative episode.

KEY TAKEAWAYS

When you are looking for a deal it’s key you have the criteria of the investor and are sourcing properties that meet this.
If you find the property that matches the criteria the client has set then you’ve found a deal
The deal packaging can be as quick as a phone call to confirm acceptance from the investor if you are working with criteria and numbers that are set at the start of the process.
When the package is accepted the deal moves into the legal process and the deal packagers fee is payable on exchange.

The legal process usually takes approximately 8 weeks, the key is to continue generating a deal a week to ensure continuity of fee payment.
Investors can be found anywhere and everywhere but the primary source currently is online. The best way is to position yourself in the property forums on Facebook.
Talk about your experience and what you’ve been doing if you don’t have any experience talk about what you are going to do.
Show others who you are, people want to make a connection.
You are working to set criteria and with a specific numbers from a particular investor, it’s not at all likely someone else will be working with exactly the same numbers.

When you work with an investor it’s about building a relationship. They may be working with other packagers covering different areas but if you have a good relationship they will only be working with you in your area.
Occasionally people try to steal a deal if it happens you have to put it down to experience and not work with them again.
The relationship you build with the investor and other involved parties in your area is key, it’s a people business.
The skillset required for joint ventures and deal packaging are similar but not the same.
For both, you need to find a great deal, have a great relationship with your Investor and both types of deal will make you money.

BEST MOMENTS

‘Maybe at the start, you will view around 30 properties but the number will decrease as you become more skilled at identifying properties’

‘There is no investor shop you can visit’

‘It’s about your personal relationship with the investor’

VALUABLE RESOURCES 

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

4 Questions You MUST Ask Investors!

Mon, 25 Nov 2019 00:00:00 -0000

Welcome back to Property Sourcing Profits Podcast! In this episode, David has been asked a very important question by new property sourcing starters;

"When I meet a potential investor, what do I say?"

David's says the answer is in these 4 questions to any potential investor;

What do they want?

What are you looking for?
Be clear on what your investor is looking for before you start looking! Avoid wasting your time, theirs and sellers by not knowing exactly what they are after. Whether that's the particular property requirements or returns they are looking for. BE CLEAR
Do they want to buy here?

Do they want properties in your area?
When you first start as a Deal Packager it's likely you won’t be sourcing across the whole of the UK. More likely you will be focusing on an area you know really well to get the best possible deals for your clients. Make sure you share this with your investor and not only are they happy for you to look in that area but you deliver the returns they are looking for.
Will they pay me?

Will you pay me for my services?
Its a question many new Deal Packagers struggle to ask when they are just starting out! You perhaps have that imposter syndrome or feel you haven't proved your worth yet to ask, or even worse you just assume they will! Make sure to get confirmation and that you are being paid for your time and effort.
Have they got the funds?

Check they have funds available, you need to ensure that after all your time and effort sourcing them a property that they will be able to proceed! At the start ensure they have the funds available to them whether that's money or a JV they are involved with.

VALUABLE RESOURCES 

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

How to Get into Deal Packaging and Do it The Right way

Mon, 18 Nov 2019 00:00:00 -0000

‘If you want to get into property, new people can do this and make money from it’

 David is in Dublin at the Multiple Streams of Income event and is taking time out to do a ‘live’ providing a succinct overview and answering key questions about why deal packaging is an effective strategy -  whether you are new to property or already working in the property arena.

There is great content in this episode with the questions anyone who is thinking about this

as a strategy will be asking themselves.

If you want to create a business  from deal packaging or use it to generate cash flow so that you can fund and develop a different property strategy then this is well worth a listen.

KEY TAKEAWAYS

If you are experienced in property you can develop a deal packaging business alongside your established property business to generate cash.
Is it a great place to start in property? – yes but do it right and find your investor first. You need to understand their criteria, wants and wishes to secure the deal they will want.
You have to be compliant with registration with the right organisations and insurance and you have to be able to fund your compliance.
Is it just for beginners? – No, it will bring cash flow to your property business. It can help you to grow the property strategy you want to pursue. If you are experienced its quicker to onboard because of your existing network and contacts.
Why sell on a good deal? – there are many reasons it may not be in the right location, or you may have other deals, it may not match your criteria.

If you want investors to work with you prove who you are to them
Show them you are someone they can trust, show you are a good person, reliable and enthusiastic.
Build your investor platform first and if someone reaches out, build a relationship with them, find out about them what are their dreams and aspirations? Can you fulfil them
How do you set it up? - Maybe you have set it up and nothing is happening, maybe you are 8 months in and nothing is happening. There is a well-established process and system for deal packaging. You have to follow the system and do it the right way to get the investors you want.

BEST MOMENTS

‘In the 70/20/10 of property, your 20 should be deal packaging’

‘We are not selling bad deals’

‘I want you to do it the right way not back to  front’

‘You can ring-fence the money from your deal packaging to use as deposits for your property strategy’

VALUABLE RESOURCES 

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

HMO & Deal Packaging Expert - Jamie Madill

Mon, 11 Nov 2019 00:00:00 -0000

‘I like to maximise my rental income from every single property’

The foremost expert in the field of HMO’s Jamie Madill joins David to talk about HMOs and the importance of starting with the end in mind.

They discuss the rules and regulations surrounding this type of rental property, licencing, builders as part of your power team and why you should always be transparent, realistic and communicate well.

This episode has something for anyone who is considering or already has an HMO with Jamie who is an expert in this field sharing his considerable expertise and experience.

KEY TAKEAWAYS

If you are looking for your first HMO start with the end in mind, what is your end goal?
With an HMO you are diversifying the risk by renting individual rooms and if you get it right it’s easy to scale up and maximise with every single property.
There are increasing rule and regulations to make sure housing is of good quality and safe. You must make sure you know and understand the regulations for your particular area.
HMO’s are the most regulated type of property in the rental market.
The legal definition
A house of multiple occupation with 3 or more unrelated people sharing common facilities usually a kitchen and bathroom.
Licencing
There are 2 key licences - Mandatory licencing when it 5 or more people sharing a house and additional licensing which is less than 5 people sharing a house.
When sourcing a builder look for recommendations and take the time to look at their previous work and feedback from other clients.
It’s vital you know who is in building control and build relationships with them.
Start with the investor first and source to order.
If you do the job properly no one buys just one deal.
It’s all about trust, you become part of their property investing journey.
You are dealing with people so it’s vital to be transparent and communicate well.

BEST MOMENTS

‘Investors want to buy the result from you, what it will be worth when it’s complete’

‘I’m completely transparent and realistic – there are no guarantees you’ll get your money back or be able to get it out’

‘If I know exactly what the client wants then I can find a specific property that meets their needs and end goal targets’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

4 Things I Learned From Meeting New Investors!

Mon, 04 Nov 2019 00:00:00 -0000

In today's episode, David recaps the 4 most important things he learned after meeting new potential Property investors!

This is what David learned

You have to understand that investors have a plan
Make sure you are prepared! I can’t tell you all the times i have sourced a deal for the investors to then explain they want you to do it all! Have a refurb team, a management agent etc all waiting in the wings for when you might just need them. Not only will it get you out of a pickle but also show your investor you’re prepared for anything.
Investors want both; Cashflow and capital growth
Don’t, I repeat DON’T send all your deals to your investor. This creates frustration and doubts that you understand their needs. You should spend enough time with your investors to drill down the specific details they need in order to say YES and the ones that are open to change.
New investors to Property may not understand what they're looking at
New property investors might not understand the deal you are showing them. They don’t yet have the experience to see a properties potential or how you got to the figures you are presenting. Be prepared to explain and walk them through the process. Not only will this make them feel more confident in the process but you also teaching them for future deal you send their way
New investors want to work with Deal Packagers who can do the job
Why does your investor want what they want!? Are they after long term sustainable wealth or immediate cash flow… Make sure you know as they might not know the quickest way of getting there and you can help them potentially more with another type of deal.

Be prepared to teach. Now what do I mean by this? I mean new investors don’t know what they don’t know. It’s likely when people first enter the world of property they have an idea of the picture perfect homes they would be proud to own and show off to their family and friends…….The reality is what they are really after is financial freedom, cashflow etc and these properties rarely look (at the start) something you want to show off. So be prepared to teach and walk them through your process of how and why you are presenting a property that needs a little TLC to them. This will also save you time and time again every time you present them a deal as they will be more confident and understand the logic behind each one.

As a deal packager you are a problem solver. Yes, you! So it’s important to know exactly what problem, goal or vision you are trying to fulfill for your investor. So from the start get clear, spend some time with your investor finding out their top line goals and drilling down the reasoning behind each. This is going to set you up for success! You will know the exact deals to send your investor moving forward and the ones which might not be exactly what they are looking for but will help them reach their goals faster. So spend some time getting to know them and see just how much easier the process becomes.

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

BREXIT! What we Need to Know as Deal Packagers

Mon, 28 Oct 2019 00:00:00 -0000

‘There is going to be a boom and there is going to be a bust what’s going to come next, we don’t know’

This episode is about property and Brexit, Is it making an impact on the market? and if it is making an impact, what is that impact? going forward what difference will it make?

As deal packagers and property investors we are affected by what’s going on in the world David has researched what the current situation is and what the people who work in the property space think are the most likely possibilities depending on the outcome of Brexit.

Listen in and find out what the drivers for house prices are and why we are always between a boom or a bust in the economy.

KEY TAKEAWAYS

What drives house prices?

Interest rates - these are at historic lows currently.
Housing demand – currently this is high.
Wage growth against the cost of houses - Historically in the UK it has been increasingly difficult to buy.
House supply - there are not enough houses and the population is growing.
The key to house price growth is growth in the economy.
Something is going to be the cause of the next property crisis or the next property boom.

The accepted possibilities

If we come out in an orderly fashion with a deal – the uncertainty will disappear and more properties will come to market.
Confidence will be restored and there may be a boom.
Staying in the EU could have the same outcome as the result is the restoring of certainty.
If we come out with a no-deal – there will be a shock which will possibly result in a small fall in property prices. Within 2 -3 years with agreements in place things will move forward and the confidence gained will result in a return to the norm.
Resolution is the key; uncertainty causes the most negative impact on the property market.
In any event, the property market will turn at some point, there will be a crash and there will be a boom.
Is it going to be Brexit or something else that affects the economy and in turn house prices?

BEST MOMENTS

‘The concern across the rest of the world is very small economic growth’

‘Real wages are growing slowly which makes house affordability better in the North of England. In London and the South East affordability is a problem’

I’m hearing about significant down valuations compared to 2 years ago’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

Katy Wilson - Deal Packager Extraordinary and The Queen of System. For Zero to 6 Figures And How You Can do it Too

Sun, 20 Oct 2019 23:00:00 -0000

In this episode, David is talking with Katy Wilson who quit her job and in a very short amount of time has built a successful deal packaging business in parallel with a growing property portfolio.

They discuss how to find the right properties in the right location and using social media effectively to find investors.

Katy shares some great nuggets that will benefit anyone in deal packaging in this informative and inspirational episode listen in and enjoy

KEY TAKEAWAYS

Before deal packaging I worked as project manager, I loved being an organised person but was living out of a suitcase so I quit my job but needed something that would have a quick return. It was then that Progressive came into my life. I wanted to build my own portfolio but deal packaging complimented that goal.

In my first year, I packaged 15 deals and in year 2 I packaged fewer deals but learnt how to make more money from each deal.

The right location

You need to know your area, the rough streets from the good streets,

Mouseprice have heat maps which show the most expensive houses in red and the cheapest in dark purple. This allows you to find the areas in the middle that are right for deal packaging

Marketing strategies

I target and befriend valuers within the estate agents and through the valuer, I get my properties before they go to market.

I love direct mail and have my magic letter which is an amalgamation of everybody’s ideas

The response rate is around 11% and I send out 200 letters a month. This generates around 20-25 calls resulting in, on average, a deal a month minimum.

Investors

I find all my investors online and leverage social media

I post everything I am doing on Instagram, Facebook and LinkedIn

They all work very differently for me but they all bring in investors

Post everything you do, be very active and you will start to get a following.

The key is taking potential investors from just being a name on social media to a qualified investor.

When I secure a deal, I work with two distinct layers of investors. I have VIP investors who I speak to regularly, I know what they are looking for and their numbers.

My other level is to send the deal out my qualified investors who can then respond if it’s a deal for them and reserve it with a reservation fee.

BEST MOMENTS

‘Little did I know how much money I would make’

‘You’ll always get an up value with a new bathroom or kitchen’

‘When you layer your valuers and then put direct mail on top you are going to do at least 2 deals a month from that’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

Get Into Property: The Book. What It’s About And Why You Need It

Sun, 06 Oct 2019 23:00:00 -0000

This week, David is “super, super excited” to be bringing you some news, hot off the press. Literally...

Yes, David’s new book, ‘Get Into Property’ is out, and David is here this week to tell you all about how he wrote it, why he wrote it, and what you can expect from what’s sure to become one of the definitive texts on how to make money in property.

KEY TAKEAWAYS

David wrote ‘Get Into Property’ because there’s never been a book like it. In other words, there’s never been a book with David in it! But on a more serious note, ‘Get Into Property’ tells you not only how, but why you should be in property, as well as how it can change your life.
Money - Property has kept David financially secure, and that’s because of supply and demand. Inevitably property will increase in cost. Educate yourself and be a part of it.
Keep away from single-let licensing areas. Don’t buy a place in the “bronx”. Work out the type of property you should buy. If you’re starting out keep it simple: buy a house.
Know your numbers - We need be realistic. When the numbers aren’t there to support it, you need to ask why.
North or South? When you’re starting out, properties in the North can give you cash flow. But once you replace your income, look for opportunities in the South.
Auctions - Buying or selling, it can be a tricky business. In the book, David tells you the best strategies to use in and out of the auction room.
When you run out of cash, it can be tricky, especially if a deal comes up. David reveals an alternative strategy in his book that will allow you to access instant cash for investment!
You need to get into property as soon as possible. David’s early investments have seen to it that the second half of his life has been comfortable, and the future is bright.

BEST MOMENTS

‘Super, super excited!’

‘The little something they lacked was me!’

‘Making money in property is as easy as falling off a log. The secret is to stay on the log long enough’

‘All property investors run out of cash. I did!’

‘If you get involved in property now, it can solve problems for you later on’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

Get Into Property - by David Siegler - https://www.amazon.co.uk/dp/1909846589/ref=sr_1_6?keywords=David+Siegler&qid=1570019066&s=gateway&sr=8-6

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

Ask David Anything! What's Stopping You Moving Forward in Your Deal Packaging Business

Sun, 29 Sep 2019 23:00:00 -0000

‘As deal packagers, we need investors and deals, it’s a people business’

In this episode, David answers questions from the Progressive Community. He has reached out and asked – ‘What’s stopping you moving forward?’ and shares in-depth advice in response to specific questions around deal packaging and deal sourcing.

The questions are wide-ranging but there are key messages for every deal packager and deal sourcer listen in and find out what you should and should be doing on

your journey to success in deal packaging.

KEY TAKEAWAYS

Investors and deals

The investor side is the most important element of the business and you must have an investor and understand their criteria to be able to source a deal that meets the required criteria.
You only need two investors to operate your deal packaging business.
If you do not know what the criteria of your investor are you cannot source a deal.

Getting an Investor

The quickest way currently is by building yourself an online profile
You need to let people see who you are now, that you are committed to property and are honest.
Join in with conversations and share your journey building your credibility online.
Make short videos about yourself and what you are doing to help potential investors get to know you.

Getting a deal

You must have an investor before you begin sourcing a deal so that any property sourced meets their required criteria.
As a deal packager, you have to present deals that offer value for the investor
Unless you have qualified investors with money available you cannot source or package a deal

It’s a people business

Property is a people business and relies on the relationships and trust you build with others.
If you have a positive relationship with the investor and are about to begin work for them a reservation fee can be requested to ensure commitment, this is fully refundable if you are unable to source a deal or forms part of your fee as the deal packager.
A seller is not committed until the exchange of contracts. You can mitigate the likelihood of losing a seller if you have a positive relationship with the estate agent. They will be able to qualify the vendor.
If you are working directly to vendor you are in a position to judge the vendor yourself.

Marketing

You don’t have to spend any money on marketing when you begin, building your profile through social media will bring people to you.
Building your investor list is at the heart of your business as a deal packager and you must put yourself out there across social media and in-person

BEST MOMENTS

‘Blog your way forward, talk about who you are and how you’re moving from being a beginner, others will emphasise with you’

‘If they are not qualified investors they are just people you have spoken with’

‘Build your relationship with the investor so you have a clear understanding of their criteria. This means you can effectively source a property for them’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

Council Tax and HMO's. We HAVE to Advise Our Investors

Sun, 22 Sep 2019 23:00:00 -0000

‘There is no conformity at all‘

In this episode, David shares the current situation nationwide concerning banding for council tax of HMO’s.

The legislation allows for the ‘discretion of the assessing officer’ and there is now a lack of conformity across authorities.

If you are a deal packager or deal sourcer this podcast has vital information that you need to know about, Listen in now

KEY TAKEAWAYS

The VOA(valuation office) for council tax is looking at HMOs and in certain circumstances taking an HMO that was previously banded for council tax as a single property with one landlord and banding the rooms individually. This results in a separate council tax bill for each room.
Currently, there is not continuity across councils, no national uniformity about how HMOs will be banded for council tax purposes.
In some local authorities just having a lock on a room can mean the room can be banded individually for council tax.
The legislation talks about properties which have had fundamental changes made. This allows the discretion of the assessing officer to band the rooms.
If the property is converted into individual letting units, self-contained with kitchenettes and en-suites the rooms may be banded independently for tax.
As a deal packager, you must make sure the investor understands the threat that at some time in the future rooms in an HMO could be banded individually for council tax.

BEST MOMENTS

‘I don’t want to sell a deal based on council tax for the building and then suddenly the investor finds the VOA re-evaluating each room individually for council tax’

‘If you have a 2 or 3 storey property with a kitchen on each floor you may be banded independently for each room or you may not be’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

Starting Out in Deal Packaging, 16 Deals in 16 Months - Interview with Ben Chambers, Deal Packager

Sun, 15 Sep 2019 23:00:00 -0000

‘The skills that you learn in deal packaging can be used across different areas of property’

In this episode, David is in conversation with Ben Chambers who shares his progress as a property sourcer.

Ben was new to property when he came to Progressive in 2018. He went through the Deal Packaging training and the DP Mastermind and in the final month of his Mastermind , at the end of 2018 he had completed ...... one deal

However he kept on going, implementing what he had learned and in the next 8 months he sold another 15 deals. Hear how he did it. Consistency is the key. 

KEY TAKEAWAYS

Starting out

My property journey began with a post on LinkedIn from Rob Moore about the ‘5 am club’, which was a standing joke in our house.

The algorithms resulted in more information from Rob and Progressive popping up and led to my attendance at the deal packaging course.

We then set up a deal packaging business

It took me nearly 6 months to get the first deal but following that we have completed on average 2 deals a month.

This was another income stream and I wanted to build something.

Don’t quit if you’ve gone through the training, believe in yourself. It takes time to build trust and relationships.

Referrals and recommendations

Having a sales background means referrals are really important to me. Even if you don’t get any more from the initial investor they can help you find investors through their recommendation.

Referrals and recommendations can build your business but if you want to scale it you have to go beyond that

I am on LinkedIn but most of my property stuff is on Facebook I find it an easy platform to navigate.

Deals

Ideally, I  source to order as it provides a tick list of what you are looking for.

But I keep a pool of potential investors who I can approach if I find a deal that is potentially interesting to them.

Most investors will want to buy more than one property and we are now moving into reinvestment with our investors and we will continue to work with those people.

They work with us because I know the area, I’m very accessible and front-facing

There are different levels of service but I believe if an investor relies on you for advice and knowledge they will return.

BEST MOMENTS

‘It would have been really easy to go back to the safety of my secure job’

‘We take our investors and potential clients to visit our current sites so it's vital that our sites are tidy as we could drop in at any time’

‘I’ve run the 2 businesses side by side there is always a way’

VALUABLE RESOURCES 

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

Ask Siegler Anything! Q&A Critical to Your Property Success

Sun, 08 Sep 2019 23:00:00 -0000

‘It’s a people business, not a property business if you can find out about the people issues you can find a way forward’

In this episode, David is joined by Cheryl Siegler,  a property expert who knows and understands the ebb and flow and nuances of property issues.

Together they are answering questions from the Progressive Community, deep diving to provide great value and the benefit of their extensive experience.

These questions are critical to your property success so listen in and make sure you are on the road to success.

KEY TAKEAWAYS

Making sure you don’t lose the deal

You must have investors in place and know their criteria They should know what to expect when you contact them.

Always try to have a backup investor,  pre-qualify a second investor

Just 2 investors can get you moving, one as your principal investor and the second as back up. Get them in place and when you find a deal that meets their criteria you can move quickly. 

Major refurbishment

You need to know about the circumstances, why it's fallen into disrepair.

It could be either a gold mine or a money pit. Proceed with caution and find out as much as you can.

If you cannot contact the owner use the land registry to find out who owns it and whether it has any mortgage.

It’s a people business, not a property business if you can find out about the people issues you can find a way forward.

Preparing for deal packaging training

Every time you are within 1 metre of someone tell them what you are doing, start telling everyone what you are going to do and how you are learning to be good at it.

Attend events and network with others you don’t get the deal on the first date, it’s about building a relationship.

If you pick up 1 investor a month, every month for a year you will have a business that could earn you 6 figures. 

The first meeting with an investor

Always begin with “how can I help?’ and then listen, it’s the key question, you are there for a reason.

You need to find out what the investor wants and they will want to know about your credentials. If you are starting out you can borrow the credibility of the people who are coaching and mentoring you.

You should practice what you want to say so you are confident when you sit down with the potential investor.

BEST MOMENTS

‘Investors that I take round are always impressed’

In my experience, investors are happier waiting for the right deal

‘I was inspired by Rob Moore and Mark Homer at Multiple Streams of Income’

‘If you are confident it inspires confidence in others’

VALUABLE RESOURCES 

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

Not Getting Results From Estate Agents? Try It This Way…

Sun, 01 Sep 2019 23:00:00 -0000

Estate agents are a massive part of the industry, but what happens when you just can’t seem to source the deals you want from them? Is there anything you can do about it?

Did you know that according to some research, Rightmove still has 90% of all property listings? Like it or not, when it comes to sourcing deals, they’re a force to be reckoned with, and with David’s help, you can move things forward when it comes to your estate agent dealings.

KEY TAKEAWAYS

The great thing about deal packaging is that it includes all the skills you need for every other property investment strategy.
The key thing is not to go on multiple viewings. It’s not to find the deal as soon as possible. It’s building relationships with estate agents. By doing that you’ll get a better quality of deal from them, both off and on market.
Key members of any estate agency are generally not the ones who do the viewings. Showing you around a property is a low-level task usually given to new starters or those with less experience.
Before you speak to an estate agent, get to know where it is you’re working. Use Rightmove to decide which area is best for your strategy.
Talking to your local estate agent is the next step. Call and make a note of who you’ve spoken to. Be explicit about your plans. Let them know that you’d like to build a relationship going forward and then pause… Give them a chance to take in what you’ve said.
Be sure that you know your type of investor before you go making offers. Make sure you’ve got investors in mind. You need investors and deals simmering together.

BEST MOMENTS

‘It’s all about the relationship’

‘I’ve shown that I’m credible’

‘You are immediately a special customer’

’The way that you say it is as important as what you say’

‘We are not flinging mud at the wall'

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

Just Starting Out – What Do You Need?

Sun, 25 Aug 2019 23:00:00 -0000

If you’re new to deal packaging, then you might feel a little bit lost! Which assets do you need in order to get started on your journey?

Well thankfully, it’s a question that David was asked to answer lately, so he’s here with you today to share his list with you. These are assets you need to have in order to allow investors to invest in your deals as painlessly as possible, and it’s a list that might surprise you…

KEY TAKEAWAYS

Solicitors - Trade solicitors or property solicitors, preferably property investors themselves. David suggest finding two.
Brokers - Brokers are key! Not all investors are cash-rich, and for those times in which you need a mortgage, then a good buy-to-let broker or commercial broker is essential.
Builders - Building a good relationship with reliable, affordable builders who deliver results can turn a property into a profitable enterprise in an instant. If you can’t get a referral, try Check-A-Trade.
Accountant - How are you going to trade? As a sole trader? As a limited company? An LLP? It’s best to get as much advice as you can from someone who knows the best way to do it. Not only can they stop you making mistakes, they can also help you save money by pointing out benefits you might not know about.
Gross yield at approaching ten percent is what you need in a deal. If you don’t find it immediately then don’t stop! Large houses turned into flats are a great way to maximise that gross yield.
Assisted sales are working in London today. You need to know what you’re doing as they’re quite technical, but the principle is that instead of buying a property and remodelling it, then selling at a profit, an assisted sale is where you simply improve the property and help it to sell, then take a profit. You need a good property solicitor to help with the legalese.
These assets can be found by asking! Ask the community. Ask other brokers. Ask social network groups, or ask at networking events.

BEST MOMENTS

’The assets you need, basically, are people’

’The process was so much easier because I had an existing relationship with the lender’

‘Certain strategies work better in certain parts of the country’

‘You’re getting very close to the grail of ten percent!’

‘I have one or two friends in London who are doing this today!'

‘We have to think a little differently'

VALUABLE RESOURCES

Property Sourcing Profits Podcast

https://www.progressiveproperty.co.uk/

https://unlimited-success.co.uk/

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

https://www.facebook.com/DavidSieglerInvestments/

Shortcut For Finding The Best Deals For Your Investors

Sun, 18 Aug 2019 23:00:00 -0000

In this episode, David unleashes the strategy that’s guaranteed to work when you’re trying to source deals and find your goldmine area. He also covers the importance of doing certain things when sourcing the deals, listen to this episode to find out more!

KEY TAKEAWAYS

Where can I find my investors?

Put yourself out there, shout about what you do, your experience and your town. Be present on social media in particularly.
If there’s nothing out on social media about you doing deals, then no one’s going to know you’re doing them.
Many people start of nervous and scared but you’ve got to tell yourself what’s the worst that can happen by putting yourself out there?
Where can I find my deals?
If you’re looking for an area to find deals in, physically go to every lettings agent in your town and tell them who you are, what you’re doing and the level of your experience. Let them know you’ve got investors that you need to serve then ask them where you can source the best cash flowing deals for your investors.

At the same time tell them that they need to be hands free investments so you’ll need the lettings agents to manage them after the process has completed.
Have the same conversation with all of the different lettings agents and they’ll all tell you where they would buy if they were an investor.
After all of the lettings agents give you their recommended areas, print out a map of your town and overlay the information you’ve been given all on top of each other.
You’ll see overlapping information and duplications of streets and postcodes and where the heavy traffic of advice is… Those are your goldmine areas.
Focus your marketing on those goldmine areas. (Direct mail, leafleting or whatever you want to do).

BEST MOMENTS

‘It’s vital to know where you can find deals and investors.’

‘Facebook lives work.’

‘You’ve just got to go and do it.’

‘Don’t email or phone and assume that’s doing the right job.’

‘This is not an estate agent. This is only letting agents.’

‘You know when you find something that is arithmetic compelling, you know you’ve got a good deal.’

ABOUT THE HOST

CONTACT METHOD

From Property Beginner to Property Winner, A First for Team PSP: Sheryl Siegler Speaks

Sun, 11 Aug 2019 23:00:00 -0000

The property market has gone through drastic changes since God knows when—from several recessions to market crashes to political changes and a lot more.

It’s not as easy as you think, but when being cautious, you can emerge as a property winner, just like our guest in this episode of the Property Sourcing Profits, Sheryl Siegler. David, your host, and Sheryl has been enjoying the benefits—the freedom, the wealth, the comfort, etc.—of property investing since the 90s. Today, they share the hits and misses they’ve experienced throughout the years, how they have dealt with the ever-changing property market, what are the current challenges in property in 2019, what’s it about Section 24 and how they stood their ground despite the trends.

Start tuning in to know more about their journey from property beginner to property winner.

KEY TAKEAWAYS

When David and Sheryl planned to buy properties, there were a lot of worries and doubts, especially Sheryl. Sheryl has a stable job that time, so risking on property investment during recession wasn’t ideal for her. She thought it’d be very difficult to pay the mortgage. But, unfortunately, her decision to not push through was a mistake. Everything could’ve gone well. It doesn’t matter if the market is down, as long as you’re ready.
When they have already established their credibility, it was the lending institutions who are now knocking on their doors to offer their money. But even with this huge advantage, every decision to invest on any property is still thought thoroughly and carefully planned.
They are in a good position right now—they didn’t have to sell their properties when the crash occurred and the value got up higher. One reason is they monitor the property prices.
The value of flats dropped during the recession and haven’t recovered yet.

If you’re sourcing apartments for investors, make sure that at least 50% of them are occupied by the owners.
Section 24 – If you book property in your own name, you can no longer subtract your mortgage interest at the end of the year from your tax built.

Landlords are losing money and are carrying a lot of debt. David and Sheryl suggest you increase the rent to a reasonable price and look at the excess.

BEST MOMENTS

“As long as you got the arithmetic correct, you just got to be brave with your stuff.”

“The more you did, the more some people lend you so you could do more.”
“The good position that we took was we didn’t know how to stretch ourselves so we weren’t under pressure to sell.”

ABOUT THE HOST

CONTACT METHOD

A Few Compliance Updates & OOOO What if You Source Rent 2 Rent?

Sun, 04 Aug 2019 23:00:00 -0000

The spirit of this episode is ‘compliance is simple’ and compliance must be your favourite subject if you are going to source deals for your investors and keep them happy.

David updates compliance and reveals a ‘blow your socks off’ anomaly, a kink in the system currently that could help any deal packager to get started and go faster.

It's vital to be compliant as you move forward and in this episode, David shares current advice on what you now need and don’t need to be a compliant deal packager.

KEY TAKEAWAYS

You must have professional indemnity insurance policy in place.
Be a member of a property redress scheme such as the property ombudsman (TPO).
Hold data protection registration with the information commission.
Be registered for anti-money laundering with the HMRC.
Joining the TPO will give you access to documentation that will enable you to be compliant in the other required areas.

The Property Ombudsman (TPO)

Review your registration/ membership with the TPO and revise if necessary
Registration is no longer enough; you need to be a member but do not have to fulfil all of the compliance issues of full members.

Internal complaints procedure

You need to have an internal complaints procedure
If you are a member of the TPO you will have access to a downloadable internal complaints procedure.

Fact find your investor

The fact find is good practice and provides you with the information you need
to search for investments to meet the client criteria.
Send a written confirmation of the fact find to the client for an accuracy check and ensure you retain a signed copy.

Terms of business

If you have gone through my training you will have access to my terms of business.

A contract

It's best to have a written contract in place with an investor this will make transparent your fees and the points at which monies will be due.
You must have a signed copy returned to you before you move forward to source properties

Rent to rent, rent to rent for SA

If you are sourcing rent to rent or rent to rent for SA opportunities you do not have to be registered with a redress scheme or HMRC for anti-money laundering supervision.
As soon as you have a client who wants to buy, you are subject to being a member of a redress scheme and registered with HMRC.

BEST MOMENTS

‘You need a picture of who your client is and what they are looking for’

‘There is a kink in the system, and you don’t have register for compliance if you are sourcing rent to rent or rent to rent for SA’

‘It’s good practice to become compliant as you move forward’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

HMO Projects: How Much Will Your Investor Leave In The Deal?

Sun, 28 Jul 2019 23:00:00 -0000

Turning a property into a HMO (House Of Multiple Occupation) can be a wise idea, but many don’t know how to accurately cost the project, and more importantly how to present these numbers to investors.

In this episode, David walks you through each step of a hypothetical project, allowing you get a feel for how each process works, and giving you a much better idea of the costs and practices you should be looking out for, and by the end of the episode you’ll have a guide on how to answer your investor’s most important questions.

KEY TAKEAWAYS

Investors always want to know how much of their capital is going to be left in the project, and more importantly what the possibility is of them getting some money back out of it.
It’s important to remember VAT when it comes to your refurbishment costs. If you are converting a house to a HMO, you are creating “new” accommodation in accordance with VAT regulation 708.
VAT on normal purchases is 20%. If you convert a property into a HMO, the VAT rate, under regulation 708, for the builder’s supplies and materials, is just 5%. This is a significant saving!
Make sure you have your sets of drawings from your architect. The first is an overview of the plan before and after with correct room sizes. Bedrooms should be a minimum of ten square feet plus en suite.
A Commercial Revaluation - Will a commercial value a property and lend you money based on the income from the rent. This is incredibly hard to judge and is never guaranteed.
Lenders usually judge this revaluation on three numbers:
- Yield driven valuation based on the rent roll. Lenders use the gross figure minus 20%.
- A bricks and mortar valuation based on what the value of the house is as a standalone property.
- The third number they come up with is somewhere between these two values. This is generally the number offered by commercial lenders.

BEST MOMENTS

‘Did your investor know that? Did you know that? You can guide your investor!’

‘Speak to your local authority. They will guide you on room sizes’

‘The best job that you can do for your investor, is to do the job with cash. Cash is king’

‘If you’re going to source HMOs, you need to know this stuff’

‘Everything after two years, the profit is profit'

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

Sam Spencer: Deal Packagers Extraordinaire – From £0 to £5000 a week in just 12 months!

Sun, 21 Jul 2019 23:00:00 -0000

Sam Spencer’s background was in physiotherapy and had carved out something of a successful career for himself. The money was great. He was seeing the world. Opportunities were everywhere. But suddenly the rug was pulled out from beneath his feet when his role was made redundant.

But instead of being defeated, Sam chose to take control of his business and financial life and found his way to Progressive Property, and an entirely new world was opened up to him.

Sam joins David today to talk about his amazing journey, and to share his best advice on how to get your start as a property packager, a business in which he now earns over five thousand pounds every week!

KEY TAKEAWAYS

After being made redundant, Sam found Progressive Property and attended their strategy events and Masterclass, an inspiring course of learning that he describes as “mind blowing"
Sam was convinced that you needed to be rich in order to be a property investor, but the Progressive courses showed him that this common perception is very misunderstood.
Relationships are key to kicking off your career in deal packaging. Sam focussed heavily on online and offline marketing.
- Online, Sam increased his social media presence, describing in detail every step of his property strategy.
- Offline, Sam was attending networking and business events. One of the most effective strategies Sam used at these events was to develop a thirty-second elevator pitch about his business that left the listener wanting more.
Sam is a fierce proponent of the bespoke approach, treating each investor and agent personally, and matching their individual needs with the skills and product he can supply.
Scaling the business is a main goal, and can only be achieved by leveraging day to day tasks, so that Sam can focus on what’s important to him; namely supplying a personal, bespoke and intimate service to his increasing network of delighted clients.
When it comes to the sometimes tricky subject of paying a fee to a property deal packager, Sam chooses to describe this payment as an “Investment In Me”, as they’re not only paying for a service, but for a level of trust.
"There’s power in saying no” - You can waste yours, and your investor’s, valuable time on making promises you can’t keep. Especially for those new in deal packaging, it can be tempting to promise the earth in the hopes of winning a client, but experience will tell you that in the long run this is a bad strategy.

BEST MOMENTS

‘At that moment, I knew that I would never let someone else control my financial future again’

‘One of the main things training did for me was it gave me belief’

‘I had a certain level of confidence, tonality and body language, and when you combine those with action you’re going to get results’

‘I create financial security for my investors. It just so happens that at the moment I do that through property'

‘I love deal packaging and I love helping investors’

‘I want to see the whites of their eyes if possible’

‘Investors don’t judge you on the challenges that arise. They judge you on how you deal with those challenges’

‘Communication is key'

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

Sam Spencer - LinkedIn

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

Sending a Deal to Investors. You HAVE to Get The Numbers Right

Sun, 14 Jul 2019 23:00:00 -0000

‘You just need one mistake to skew the numbers and it de-positions you with your investor, you must get the numbers right’

David explains the numbers that are key and how to ensure the calculations are correct when you are putting together a deal for an investor.

He shares a detailed example of when a deal isn’t a deal worth having because the numbers don’t stack up and how each number can be calculated accurately.

If you want to understand exactly how to make the calculations that make a deal package listen in now.

KEY TAKEAWAYS

It’s about getting your numbers right, valuing the property that you are proposing to send to the investor.
There are 2 numbers required for valuing a property to let; the gross yield and the return on capital employed.
Gross yield is a gross number, it is the total rent you are going to achieve in the first year divided by the total cost of acquisition, including everything (kitchen sink, deal packaging fees, stamp duty, legal fees)
Gross rent divided by the gross cost of acquisition equals gross yield – the property industry understands this figure
Return on capital employed is the net number, It’s the money the investor is going to get returned on their money.
To get the net income you subtract all the costs of ownership (letting fees, voids, repairs) giving you a net rent.
You divide this net income by the money you leave in the deal.
As the deal sourcer it is incumbent on you to work out what that property is worth.
To know what the house may be worth look at comparable properties. Using comparable properties provides evidence for the valuation.
What every experienced investor wants is a return on the cash left in the deal and how you work that out is going to make the difference on whether you sell the deal or not.

BEST MOMENTS

‘If you are sending this minestrone of numbers to your investors they are not going to buy the deal’

‘If I was the investor and the numbers were sent to me there is no way I would buy that deal’

‘Gross yield is important, it’s a common language in the property industry, people know exactly what it is’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

This Week's Road Blocks & How to Deal With Them

Sun, 07 Jul 2019 23:00:00 -0000

‘I get feedback, sometimes tough love is necessary, sometimes a kick, sometimes a guiding hand’

In this informative episode, David tackles the issues and questions that have been raised by some of the deal packaging community.

He focuses on some of the issues those early in their deal packaging experience often find the most challenging and provides succinct advice on how to deal with the problems and move forward from these ‘road blocks’

KEY TAKEAWAYS

I’m doing lots of work for investors, when do I get paid?

Finding investors first is key, you haven’t got a deal until you’ve got investors and you need the right investors.
Choose wisely and make sure you work for the right people, listen to what they say, if they have the experience, are real and are nice to you, build a relationship with them it will have a positive outcome for you.

When is a deal, a deal?

You’ve got to add value, increase the numbers and make your investor wealthy whether in the South or the North we use our education to make the investors wealthy.
We use our education to source properties that we can do something to, add value and improve the gross yield.
Don’t change your area, don’t change the property, change the strategy.
You need access to people who can help you, people around you.

If I find a deal how do I get it off the market?

It all depends on the relationship you have with the estate agent. If the relationship is positive some will work with you and these are the ones you need to find and work with on a regular basis building a positive relationship.
You’ve got to be credible, confident, realistic and know what you are talking about what your strategy is and the destination for the property. It's only these one to one relationships that will allow you to move forward. If they don’t trust or believe in you they are not going to take the property off the market.

BEST MOMENTS

‘Don’t go with tyre kickers and time wasters, I can teach you how to do that’

‘Build your network of people and you will get paid’

‘It will happen for you’

‘You will eventually get to a point where you have too many investors for the deals you have available’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

Your 1st 12 Months in Property - Rick Cusimano, From Corporate Job to Deal Packager

Sun, 30 Jun 2019 23:00:00 -0000

We were interested in and passionate about property, but we didn’t see how it could scale to replace an income until we came to ‘multiple streams at Progressive’

In this episode, David is in conversation with Rick Cusimano who shares his journey from day one as a deal packager.

In this candid conversation, Rick shares what was successful and the challenges he faced in the first 12 months.

If you’ve ever wondered if you can do it – listen in to this episode now, to hear about how Rick did it, the success he has achieved and how you can do it too!

KEY TAKEAWAYS

What changed at multiple streams of property income event?

It was gaining the knowledge and understanding about how you can buy a property with other people’s money, joint venture on projects and package deals.
Through sharing on social media and networking people became interested in our journey and we were approached by an investor who was interested in purchasing a buy to let and we started talking to people about deal packaging.

What came first the deals or the investors?

We brought the investors along for the journey as this ensures the offers you are placing meet the needs of the investor and ultimately gets their buy-in when an offer is accepted and they are able, with your help, to secure the property immediately.
Initially, over the first deals, you want to maximise your efforts and be sure that when an offer is accepted you can complete the deal.
Investors want to see an example to be able to discuss, we had purchased a property to let so we were the first buyer.
We filled the investor pack with information about other properties we had bid on but been unsuccessful is securing because it showed the types of deals we were going after and the types of returns we were expected.

Did you have to find a new investor for a new property each time?

Most of the deals initially were single lets with new investors and we then grew with recommendations and investors returning to purchase again
Whatever you learn on a project try and condense it into a model you can use again.
You need to de-risk things as much as you can.
Property has its challenges like everything else, and it's key you don’t give up, speak to others and seek advice.
There are always challenges and it’s about finding a solution that can be applied again.
It's about the people around you, they either know the answer or know someone who knows the answer and that help, and advice is crucial for anyone.

BEST MOMENTS

‘These are the types of returns we are looking for is this what you are looking for?’

‘To be able to find homes immediately for all the deals we sourced in the first year’

‘The investor will enjoy the journey as much as the destination’

‘Whatever you learn on a project try and condense it into a model you can use again’

‘You’ve gone through the fire and come out the other side’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

Property Sourcing Profits Podcast
Khadija Kalifa – Instagram
Khadija Kalifa – Twitter

Nick Vint - Earn Money Fast by Packaging Rent 2 Rent & Serviced Accommodation

Sun, 23 Jun 2019 23:00:00 -0000

Welcome back to the Property Sourcing Podcast!

If you’re looking a straight-to-the-point introduction to packaging rent to rent and serviced accommodation, then you’re in the right place. Today, David interviews Nick Vint from Falcon Property Services who’s experienced in this aspect. Discover what factors to consider, what to look at when viewing properties, and how to approach investors and landlords, so you could start earning money fast. Rent 2 rent’s and SA’s are proven to be good for those starting in property. Start tuning in to know more.

KEY TAKEAWAYS

Where to start when you want to source serviced accommodations for rent 2 rent? Nic says it’s relatively cheap, but the very first thing you should do is to do your due diligence.
Know the difference between a house and a flat. This is something you should remember when viewing properties. With houses that have a mortgage, know if subletting will be allowed. With flats, it depends on the existing lease.
- If the mortgage has restrictions you want to change, you can ask the mortgage provider if it can be edited.
When subletting, always go first for the corporate lets. Nick tries to avoid online travel agents/booking sites since they charge big.
Management contracts are legal documents that cover duties and responsibilities for landlords and investors.
Think about the market you’re dealing with serviced accommodations. For example, contractors won’t be sharing beds, so it’s best to get set up one bed in a room.
Nick asks these questions when he initially interviews the landlords:
- Is your property still available?
- If so, would you consider longer lets?
- Would you also consider corporate lets agreements?
Where can you find your investors? Social media and event networking
Nick’s tips:
- Know your investors. Do a check on their background and credibility.
- Make sure that the furniture, utilities, appliances, etc. are all sorted.
- Put everything in writing.

BEST MOMENTS

“Make sure you know what you’re looking for because most landlords don’t.”
“You need to understand what market you are targeting, whether they be contractors, corporates, etc.”
“For investors, just make sure they are who they say they are.”

VALUABLE RESOURCES

Falcon Property Services
Gumtree

ABOUT THE GUEST

Nick Vint is a property specialist at Falcon Property Services, Ltd. He helps property investors with rent 2 rent and serviced accommodation units. He’s also an entrepreneur and a mentor. He’s passionate about helping other people start their own business and increase their wealth.

Nick’s LinkedIn

ABOUT THE HOST

CONTACT METHOD

In Conversation With Khadija Kalifa

Sun, 16 Jun 2019 23:00:00 -0000

In this very special episode, the conversation is flipped the other way around! David finds himself being interviewed about deal packaging and property by none other than Khadija Kalifa, one of the most successful contestants on BBC’s The Apprentice, and a valued member of the Progressive Property team, who met with David to dig into his more personal side, but also to discuss his journey, his take on success, and what deal packaging can do for you…

KEY TAKEAWAYS

The average fee for any deal packager in the UK is £5,200. Lining up a few of these deals in a row can net you a superb income.

Deal packagers need to work using lots of different strategies, such as buy-to-lets, HMOs etc. But the more you work at it, the bigger your network grows, and the more successful your company will be.

You can increase your yields by layering on your knowledge, your different strategies. By using HMO or SA strategies on your investments, you can raise your yield percentage, which is always attractive to investors, who can earn way more from being a part of your strategy than from traditional savings interest rates.

If you’re going to be a property person, you need to make firm alliances with people you can trust, and who can make your business tick along reliably. There’s no substitute for a power team.

You need to enjoy your journey, whatever that may be. David always applies humour to his public speaking, but also looks on the brighter side in every part of his life. If people like you, it won’t only help you in business, but also in life.

One of the most valuable lessons that David has learned is that it’s okay to think about business in a more collaborative way. For most of his business life, it was ingrained into him that you do not share anything that will benefit your competitors. But upon joining Progressive Property, David has learned about the value in networking, sharing and becoming part of a team that works tirelessly to help each other.

Khadija and David both believe firmly that life should be lived to its full extent. It’s not enough to settle. Staying hungry and always planning for the next challenge opens up a world of possibilities in life, whether that is travel, security or being able to give your family the best version of life. But it takes work. You need to be prepared to put in the hours.

BEST MOMENTS

‘I might be 64 but inside I’m 24!’

‘Deal packaging is the fastest way on the planet to get money into your property business’

‘Property is a joy’

‘All my material needs are covered by property’

‘You’re exactly the way you are at home, but bigger’

‘I’ve made more friends here over the past three years than I’ve made in the last thirty’

VALUABLE RESOURCES

ABOUT THE HOST

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

LinkedIn
Facebook

Laura Muse Interviews David

Sun, 09 Jun 2019 23:00:00 -0000

If you’re looking for the fastest way to increase your cash flow, then consider learning about Deal Packaging.

This episode of the Property Sourcing Profits Podcast is perfect for starters who want to learn this property strategy. Today, it’s David who’s going to be interviewed by your guest host, Laura Muse. Everything you need to know about deal packaging will be tackled – from looking for investors to securing your compliance to presenting your deals. David says it’s going to be easy to achieve success in deal packaging. Just remember to keep doing what you need to do and don’t let fear get the best of you.

KEY TAKEAWAYS

Deal packaging is very ideal for those who are just starting in property investing who have little to no capital yet. The first step is to find your investors, know what they want (i.e. financial criteria), and go ‘shopping’ for properties.

You need the tools – cell phone, laptop, internet, etc. – to find and communicate with people (i.e. letting agents).

Find your niche. For David, it’s specialising on HMOs. The fastest way is the rent to rent serviced accommodation packages.
For compliance, you need:

Professional Indemnity Insurance,

Tpi registration,
registration with the ICO, and
registration with HMRC for anti-money laundering supervision.

Where do you find the investors? David’s advice is to utilise social media. It’s free, and most people own accounts on different platforms. Plan out how you will present yourself and what you’re offering.
It’s rare that people do deal packaging solely for the next 5 years in their property career. You have to learn and try other property strategies along the journey.

How do you present deals to investors? Find out what numbers they want. Be knowledgeable about the gross yield and return on capital employed or ROCE. David doesn’t really advise to use ROI in deal packaging.
What are the mistakes that new deal packagers make? Inactivity and Fear

BEST MOMENTS

“The biggest obstacle to people being successful in property is they don’t do it.”
“You have to put yourself out there and do it.”

“We have to educate people… They might not understand the numbers they are working on out.”
“Start to build your profile as an honourable and professional deal packager in the forums that you think that will attract attention.”
“Fear is a terrible thing. Fear can hold you back, and fear can turn you into something you’re not.”

VALUABLE RESOURCES

HM Revenue & Customs

ABOUT THE GUEST

Laura Muse is a property investor and has expertise in deal packages, property renovation, domestic and commercial development and many more. She is the Director of I Squared Property, which offers investors a hands0free solution to building a property portfolio.

I Squared Property Ltd

ABOUT THE HOST

CONTACT METHOD

David’s LinkedIn
David’s Facebook

From Deal Packager To Investor-Driven Machine!

Sun, 02 Jun 2019 23:00:00 -0000

In this very special episode, David is in conversation with Rebecca Smith, a former deal packager who had such huge success that she was able to transition to a new career focussing on the investment side of property.

In this highly inspirational episode, Rebecca gives her insights into the mindset she used to carve out a new career for herself in property, the creativity she employed to create her own business model, and the lessons she learned along the way towards her own success story.

KEY TAKEAWAYS

Rebecca counts her network, especially the one she’s cultivated through Progressive, as the biggest part of her success story.
By establishing her goals, both professional and financial at the very outset, Rebecca was better able to target the key areas in her own personal development. Deal packaging was, for her, the easiest way to earn cash so that she could replace the income she was set to lose by leaving employment.
Rebecca chose to focus on investors and investment as her particular speciality. Her communication and creativity soon began to attract numerous investors. The main tip that Rebecca recommends is to always be honest with investors and deliver results realistically and on time.
Networking, which Rebecca credits as the main reason for her success, always works best when you engage in a mixture of business and property networking. Property networking alone can be difficult as most people in your prospective network are looking for the same type of deals that you are. At business networking events, you can sometimes be the only property person in the room, which obviously gives you a much better chance of finding an investor for you.
Rebecca spends much time getting to know her investors personally as she believes this leads to a greater understanding of what they need, and what they’re looking for in an investment. By better understanding not just their bank account, but also their personal circumstances, Rebecca is able to offer highly focussed deals that investors will always have time for. It also allows her to identify, from a distance, which investment opportunity will be best for which investor.
As her network grew, and as new opportunities began to emerge, Rebecca discovered a new business model for herself; organising short-term, high-return investment for developers, acting as a kind of broker between those looking for capital, and those willing to provide it.
Rebecca has had her share of low points as well as highs. Along with several other successful graduates of Progressive, Rebecca credits tenacity and perseverance as the kay factors in her success. By never giving up, she has established herself as a power house in property investment.
Although goals are always centred around money, the real aim of success is not money, but what money can give to you: time. Time is the most important asset that Rebecca has achieved. By leveraging her new business model, and being able to leave her corporate career, she now has more time with her family.

BEST MOMENTS

“I’m a huge believer in the power of mentoring and masterminding. I’ve done it in every part of my life and I still do”

“Unless you know what you need to earn, and by when, you wont know which strategy to use”

“Under-promise and over-deliver”

“I use property networking to grow my power team, and business networking to grow my investor network”

“My job is to reduce the risk”

“So many people reach the point at which they’re about to start earning, and then they give up and move on to another strategy”

“Shiny pennies everywhere, that’s the problem”

“The money will come, in property, if you stick at it and keep doing what you’re doing”

VALUABLE RESOURCES

Rebecca Smith - LinkedIn

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

Jessie Marsh from £0 to £250,000 per month

Sun, 26 May 2019 23:00:00 -0000

In this inspirational episode, David is in conversation with Jessie Marsh who has used her experience and expertise in property sourcing to move successfully into other areas.

They discuss her journey, the initial challenges and how being open to learning and choosing joint venture partners who have specific expertise can help you to achieve great things in new and exciting areas.

If you have a mindset based on taking action then this episode that will inspire you.

KEY TAKEAWAYS

• Having attended the deal packaging course at Progressive Property and knowing South Wales well I knew this was the best area for me to begin sourcing properties.

What were the initial challenges?

• Initially it was having the confidence to speak to agents, the first few visits were daunting. I came to terms with this through recognising they are only people, like myself and if I didn’t talk to them I wasn’t going to get any response.• It took time to work out what type of property I was looking for but as I gained focus and was able to articulate clearly what I wanted my confidence increased.

How did you find your first investors?

• When I began I documented what I was doing online using Facebook sharing why I was investing in particular areas.• I updated on a daily basis and was then contacted by potential investors who had been following what I was doing.• Through networking, I was asked to make a presentation to potential investors in Holland. This has led to both investors and joint venture property purchases in Wales.• The relationships built with agents brought the opportunity to look at a block of apartments.• I presented a different deal to the owner which was initially rejected but being persistent and communicating enabled the owner to view the project in a different way with positive outcomes for all involved.• It vital to be honest and transparent, the purchase of a 2-bed apartment for serviced accommodation led to leasing, developing and managing a 61-bed hotel with restaurant.• When moving into a new and different investment opportunities I have been able to use the property network to support me with advice and expertise.• You don’t necessarily have to have direct experience in the field, you can bring in joint venture partners who do.• We have built a business with around 180 investors which means at any one time there are on average 11 - 15 who are actively seeking a deal.• The target is an income of £250,000 per month which we are hoping to achieve by the end of the year.• Deal packaging is special because it can lead you to so many other things.

BEST MOMENTS

‘I learnt lots of information on the course, how to find properties, how to find gold mine areas and then ran with it’

‘I particularly enjoy mentoring and being part of the mastermind and progressive community’

‘If you don’t ask the questions and tell people what you are doing you will never know what they might have to offer you’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

Meeting a Potential Client, What do you Say?

Sun, 19 May 2019 23:00:00 -0000

When you meet a potential investor for the first time as a property sourcer What do you say?

In this episode, David is responding to a question from one of his mentees about hoe to successful navigate the initial meeting with a potential client.

David provides invaluable detailed advice based on his extensive experience as a Property Sourcer, so tune in to find the answers that will ensure your initial meeting with a potential investor will be successful.

KEY TAKEAWAYS

For clients 1 to 10 make sure you have practised, beyond this you will no longer need to.
When you make contact with someone who might be interested arrange a meeting making sure you offer them options around time and dates.
We are all busy and if a potential investor has given up their time in a working day then they are interested.
You know that they are there for a reason, they have a problem and you may be able to help.
The number one question on your script must be ‘how can I help’ you must then remain quiet until there is a response, you must listen.
The meeting is about them not about you.
This is a fact-finding mission and you need to find out all the information you can.
The purpose of this initial conversation is for you the deal packager to find out what they want and if you can help them.
You should take them on the journey explaining what you do as a property sourcer and use this point as the opportunity to explain your fee structure and what you charge for your services.
It's important that you are able to convey how you can help them and that what you do is valuable to them.
Explain that your professional relationship with them could potentially span many years.
Dependant on how the initial meeting progresses will determine whether you decide to discuss specifics.
A second meeting can be useful and if you are a new property sourcer showing potential investors what you are proposing and viewing potential investment opportunities on the ‘geographical patch’ can help build a professional relationship and trust.

BEST MOMENTS

‘You need to paint the picture of what you can achieve for the investor’

‘You can take it from the worst house in the street cosmetically to the best house in the street cosmetically’

‘What are they trying to achieve and what do they need’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

If You’re Going To Package HMOs Then Listen To This First

Sun, 12 May 2019 23:00:00 -0000

After a recent trip to a new development, and after several question from listeners on the theme, David takes this opportunity to talk about HMO (House Of Multiple Occupation) packaging; some of the things to look out for, and some of the tactics he employs to get the best out of the opportunity, as well as the people who will make this happen.

As David points out, sometimes funding an HMO for an investor can be a “mysterious and opaque art”, but with David’s invaluable guidance, maybe the process can be made a little easier...

KEY TAKEAWAYS

Most cash investors will always want to leverage at the back end - they’ll always want to get as much money out as they possibly can, so that they can reinvest in other projects as soon as possible.

You ideally need a power team behind you that can deal with the finance - Before you even begin to look at houses, and before you start to talk to investors, get your finance team in place.

You need a commercial mortgage broker - HMOs require commercial finance. It is imperative that you do not try and obtain a buy-to-let mortgage for this type of deal. As soon as you start to convert a property into a HMO, everything changes, so you need the correct type of finance at the start.

The glue that holds the deal together is a local commercial valuer firm - By combining the known and trusted valuer firm with a commercial broker and lender, this power trio will work together to bring this to fruition.

Lenders seem to come back with multiple valuations. The first is yield-driven valuation based on the rent roll. The second is a multiplier, an integer used to multiply the rent roll figure by. They also take a “bricks and mortar” valuation. Also, they favour supplying a “Yield-driven valuation with vacant possession” - literally a valuation based on the rent roll, but on the basis that no one is in the house paying rent.

Your fee should be four times the gross rent monthly, plus ten percent of any of the work to convert the property to convert it into an all en-suite HMO.

BEST MOMENTS

‘You have to swim through the treacle of requirements before your investor can get their loan’

‘You need in your power team, people who can help you’

‘On a commercial mortgage you’re going to have to leave a bit in’

‘The banks are interested in what happens when things go wrong’

‘Lenders want you to have some skin in the game’

VALUABLE RESOURCES

ABOUT THE HOST

CONTACT METHOD

The Top Five Things That Can Stop You In Your Tracks – And How To Beat Them

Sun, 05 May 2019 23:00:00 -0000

Through his extensive work with up and coming property deal packagers, David has seen many fall by the wayside. Most begin with energy and enthusiasm, but once the initial burst of creativity and positivity has subsided, some just can’t seem to get going.

What is it that stops people from applying what they’ve learned, and going out there to make some money for themselves?

David has identified the main five reasons why prospective property entrepreneurs seem to fall at the first hurdle and offers advice on how you can overcome them

KEY TAKEAWAYS

Overwhelm - After the initial enthusiasm, it can be daunting to suddenly realise that your moment has come - this is it. You’re on your own and you don’t know where to start. Suddenly procrastination creeps in. Take the step. Beat the procrastination monster. Move forward. Seize the moment and do it, because success comes one step at a time. If you take the reins and just do it, you’ll feel much better.

Fear - Nothing saps your confidence like fear, but what are deal packagers scared of specifically? As it turns out, estate agents are high on the list. But why? Is it because of some preconception we have about them? Do we honestly believe that they’re out to make life difficult or stop us from getting the best deal? Estate agents are just people like us. They have their own expenses to cover, and most importantly, they’re there to sell houses!

All it takes to conquer that fear is honesty and a small leap of faith. Tell the estate agent who you are and what you’re doing. If you’re deal packaging then tell them. Tell them that you’re working with investors, and identify specifically the types of properties you’re looking for, as well as your budget. Get the script worked out beforehand, and most importantly show no fear! Do not let them know that you are new to this.

Working out if a deal is a deal is often a stumbling block for deal packagers. Are the numbers right? Is this a deal worth pursuing? Learning how to read the numbers and translate them in deal terms is a core skill you need to learn, but it is completely achievable.

All you need to remember is that there’s a difference between a deal and buying a house. Does it increase your wealth? Does it have the potential to make your investor some money? But one thing you shouldn’t have is fear of the numbers. Because numbers can be fixed! Sums can be recalculated! So don’t be afraid.

Ducks In A Row - Line up your important goals first, which should mean the deal. The deals are what will keep your business going, so always make the deals your priority. Focussing on less important tasks, such as business cards, accounting software or which suit you’re going to wear, are all forms of procrastination, and as we know, procrastination is a stumbling block that prevents us from attending to what’s really important.

The Spreadsheet - Spreadsheets and deal analysers can be important, no doubt. But they can be a bit of a blunt instrument, and sometimes there’s far more nuance to a deal, and spreadsheets don’t always communicate this. Use your wits, and remember that deal packaging is not a science - it’s an art.

Self Belief - Why do successful people succeed? Sometimes it simply boils down to spirit. Spirit and self-belief are things that improve as you progress. Just remember that one step comes after another. Keep moving forward and your self-belief will grow. And remember that you will fail and that it’s nothing to be scared of. You can learn more from failure than you can from success. So don’t be afraid. Take one step at a time and keep going.

BEST MOMENTS

‘Deal packaging is the fastest way on the planet to earn money’

‘Suddenly you’re on your own and you’re a rabbit in the headlights!’

‘The overwhelm and procrastination monster is going to attack on day one, and you’ve got to fight it off’

‘I do not know any deal packagers that have died from starting a business’

‘Don’t be afraid - there are no lions in the high street!’

‘In order for the deal to be a deal, the numbers have to be right’

‘A deal is something that has to increase people’s wealth’

‘It’s not really in what you say, it’s in how you say it’

‘Deal with the fear - get your scripts in place’

‘Get out there and start talking to people’

‘What we do is not a science. What we do is an art’

‘If we take one step a day, then by the end of the year, we’ll have walked miles’

VALUABLE RESOURCES
Property Sourcing Profits Podcast

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.

CONTACT METHOD
LinkedIn
Facebook

Finding Investors, Increasing Your Cash Flow, Selecting The Right Systems Q & A

Sun, 28 Apr 2019 23:00:00 -0000

In this episode of the Property Sourcing Profits Podcast, David goes live and answers questions from the Progressive Community anything you want to know about property. If you want to learn more about finding investors, increasing your cash flow, selecting the right systems, or choosing the right property strategy in your area in the UK, then David already got you covered. There are more tips that you shouldn’t miss so make sure to tune in!

KEY TAKEAWAYS

Finding investors is essential when you want to excel in deal packaging. Know the qualifications to make sure. Ask yourself: when is an investor an investor?
- It’s better if you find a cash investor.
- Make sure they’re serious and had some experience that will get you moving in deal packaging.
Q: What systems do you use in deal packaging business?
- Podio, Zapier, MailChimp
Q: I’m selling off due to Section 21 and the current political situation, any advice?
- If you’re moving to the US, choose a state that can serve as a safe haven for your money (i.e. New York City), and don’t buy cheap.
Q: The best strategy for cash flow.
- You got to add value, always.
- What successful people do in Brighton:
  - “We have to add yield to make properties work in Brighton because it’s a very high cost of entry.”
  - Be careful with serviced accommodation properties because they’re seasonal.
  - Focus on mixed-used properties.
- Q: I don’t know where to meet investors. Where do I start?
  - Meet people at property networking events.
  - Set up social media accounts where you can share your property journey and meet other people.
- Q: In the Liverpool area, which should be chosen, a traditional house or modern flat?
  - If you’re going to buy a modern leasehold flat built in as early as 2004, make sure that you got owner-occupiers living there. You don’t want to buy a flat in a building full of investment properties.

BEST MOMENTS

“The key to getting your deal flow is finding investors.”
“Cash flow is fine. Cash flow pays your bills. Cash flow gets you out of your job. Cash flow might get you out of unexpected bumps. But, cash flow will not make you wealthy. You need capital growth.”
“Talk about your area; it works. Then, form alliances with people you’re going to meet in my deal packaging trainings. Once you get into the room, you’ll meet the other people and form alliances together. Then, you can have a menu – a menu of the offer that you can make to your investors.”

VALUABLE RESOURCES

ABOUT THE HOST

CONTACT METHOD

David LIVE!: How To Set Up Your Deal Packaging Business

Sun, 21 Apr 2019 23:00:00 -0000

In this very special live episode, David talks an audience through some practical methods of setting up their deal packaging empire.

Take your seat for this exclusive insight into David’s methods, his book of contacts, and his advice for structuring your successful deal packaging business; from everything to registering your company name to choosing your own power team.

KEY TAKEAWAYS

Deal packaging is about people - We need to start recognising that we’re not in a property business. We are learning how to deal with people. It’s all about how we deal with people.

You need a property-based accountant to help you with the sometimes unexpected complexities of tax.

Lawyers are worth developing relationships with as you’ll need to introduce reliable, knowledgeable ones to your investors, thereby again increasing your value.

Mortgage brokers - these are a requirement for your investor, so avail yourself of a good one. Make sure you know their difference between residential and commercial brokers and use the right one for that particular deal.

Determine your trading style - Are you a sole trader? Are you a limited company? Are you a LLP? Talk to your accountant and make the decision early on. Registering your company name costs pennies, and can be done with an app. If you’re busy, your accountant can do this for you, but it will cost more.

The value of the information you put in front of your investor will increase your value to them. By working from the knowledge of your power team, you’ll build your credibility and your professionalism.

HMOs are for residential properties for tax reasons. You can’t use them for buy-to-let mortgages. If your investor wishes to do this, you need a commercial mortgage broker.

Traders and builders - For those investment properties that need a makeover, it’s always wise to have a team you trust. The Federation Of Master Builders is a good resource, as is Check-A-Trade.

BEST MOMENTS

‘There are people who have gone before you, and who’ve gone on to have a great big property business’

‘Putting as much information in front of your investor will build your credibility with that investor’

‘You need property lawyers who understand the process’

‘You need people like Rob Holmes - “The property Gandalf” - in your life’

‘A lot of people come here, they take the training, and then they never do anything with it. And that upsets me’

‘I believe it’s all about the community’

‘If you’re serious, then let’s get serious. Let’s make some money’

VALUABLE RESOURCES

ABOUT THE HOST

CONTACT METHOD

Deal Packaging Is Easy – Don’t Overcomplicate It!

Sun, 14 Apr 2019 23:00:00 -0000

In this episode, David wants to dispel a few myths about deal packaging, most notably that deal packaging is difficult or over complicated. It’s easy, simple and pleasant, and David genuinely believes that.

In this episode, and in his own inimitable style, David will do everything he can to convince you of the truth, and of the reality in that statement.

KEY TAKEAWAYS

The relationship between investors should always be respectful and amicable on both sides. Working with people you like is everything. You can’t be honest unless you respect your business associates.
There are people out there who do really difficult jobs. Deal packaging isn’t difficult. And if you think it is, then compare it to brain surgery. Or mining!
You have to work hard to build your reputation, your profile and your contact list in the early days, but once you’re up and running it all purrs along and becomes a pleasure.
Chase up the forms - investors are busy people, so be polite, but chase up the paperwork or you’ll both miss out.
Make sure they’ve got the funds to buy properties with. It makes everyone’s life easier, and makes any efforts worthwhile. Cash is best because it’s easier in the long run. There’s nothing wrong with buying a property with a mortgage, it just means a couple of extra jobs to do.
Put your investor in touch with a reliable mortgage broker if necessary. Life gets in the way, so take that step for them. And prepare your mortgage applications up front. It makes the process a lot faster and easier for your investor.
It’s worth chasing colic I tor’s in the early days of a deal. You might hit a pinch point, and find yourself able to iron out a wrinkle in the deal that might be holding things up.
Agree your fee - Your fee should be non-negotiable. You should have a standard tariff ready to use. Set your price and stick to it.
Submit your invoice - Send it through to the solicitor ten days before completion is due to take place. Most importantly, contact the investor and tell them that your invoice has been submitted.
If you are out there looking for rent-to-rent properties, and you go through an agent, you need three questions - 1) Will your landlord accept a corporate let? 2) Is the property available now? 3) Will your landlord accept a long let?

BEST MOMENTS

‘I like to work with people I like’
‘Hard? Compared to what?’
‘We’re not doing brain surgery guys’
‘A cinch by the inch, but hard by the yard’
‘The best way to take care of your money is to put it into property’
‘You have to have access to your investor’s solicitor’
‘We’re all about relationships at any given time’
‘Do not listen to the voices out there that say deal packaging is really hard. When you hear that, your stock response should be “Compared to what?”’
‘You need a script for every scenario’

VALUABLE RESOURCES

10X Property Super Conference - London

ABOUT THE HOST

CONTACT METHOD

The Secrets Of Successful Bridges

Sun, 07 Apr 2019 23:00:00 -0000

In this special chat with finance expert and property investor Rob Holmes, David finds out about some of the strategies that have made him so successful, including valuable insights into some of his most ingenious deals, and what made them work.

Rob is a supporter of using bridging loans in order to take the best advantage of property deals. In this episode, he explains why and gives personal examples of how they work & how they’ve worked for him.

KEY TAKEAWAYS

The importance of having a good team around you is vital. It can allow you to be able to move more quickly on potential deals. Rob gives a great example of this in an early anecdote, in which he also explains a strategy that worked for him on an auction property, as well as the potential pitfalls.

If you’re looking at a buy-to-let, it’s always wise to look at the gross bridge and the net bridge amounts, because it’s the net bridge amount that you’ll be putting in your pocket towards the purchase.

Rob talks about the importance, reality and value of bridging loans - A lot of people are scared of bridging, but mainly because they don’t understand it. Rob advises that bridging can land you in trouble if you don’t understand your deal properly. Bridging is very quick and isn’t as expensive as many people perceive it to be. There are a lot of variables that a lender will take into account, mainly based on you as a borrower.

Entry and exit fees - Rob advises that many lenders these days do not charge an exit fee for a bridging loan. If you are paying one, then it might be a good idea to shop around to see if there’s a better deal out there. An entry fee is standard, but those fees can be subtracted from the gross loan and will be deducted from the money being lent, so you don’t necessarily need to have capital upfront to pay this fee. So adjust the amount you’re asking for to account for any fees.

In an open market value bridging strategy, you are obtaining lending against the true market value of a property, instead of the agreed purchase price.

Meet the valuer when he comes back - every single time. Always meet your valuer when he comes back to value your property after a refurbishment and prepare a pack detailing the effects of what you’ve done. A fascinating anecdote from Rob’s history explains exactly why.

A cross security bridging strategy can also be beneficial. This is where you obtain the net bridge against the property you’re buying, and subsequently take a bridge against another property, essentially creating a bridge across two properties, where one property makes up the missing money needed to buy the first.

BEST MOMENTS

‘You’ve got to be in it to win it’

‘Relationships are key in a lot of things’

‘Know your area’

‘Half an hour can cost you five grand!’

‘It’s important to have a good broker that can get you access to all the good lenders’

‘This is a little bit ninja and you need people who know what they’re doing’

‘Always meet your valuer when he comes back’

‘Even though a property can be unmortgageable, bridging companies may work with it’

‘Closing a huge property deal in a pub garden is a very good place to be!’

‘Look at your low-end values, cover your downside’

VALUABLE RESOURCES

10X Property Super Conference - London

ABOUT THE GUEST

Rob Holmes became interested in property investment after reading ‘Rich Dad, Poor Dad’. Rob began to educate himself in the field of property investment and bought his first investment property, a two-bedroom flat, at the age of 20.

Since then Rob has continued to build his own personal portfolio around the South East worth over £1,500,000 by the age of 30. Further to this, Rob also has other Joint Venture property held worth over £1,000,000.

Rob strengths are in creatively structuring investment deals and high cash flow strategies. Most recently structuring and negotiating a triple block purchase, comprising of 14 units of mixed commercial and residential property for £950,000. Rob specialises in utilising bridging finance in creative ways to make deals happen and helping others to do the same.

ABOUT THE HOST

CONTACT METHOD

A Special Announcement for all Property Sourcing Profiteers

Sun, 31 Mar 2019 23:00:00 -0000

It might be difficult to get your hand on those sought-after 10X Property Super Conference tickets, but no worries since David already got you covered!

Today, David shares an exclusive opportunity for Property Sourcing Profits Podcast listeners out there. There will be specially numbered tickets that will be released EXCLUSIVELY for you! No need to worry now that you might miss the biggest property networking event. You will still get to listen to the world-class property investors Grant Cardone and Mark Homer, and you get to meet the property community.

Are you excited? Then, make sure to book your VIP tickets in the link below after tuning in!

KEY TAKEAWAYS

The 10X Property Super Conference will be held on the 7th-8th of June this year at InterContinental London. It’s the biggest property networking event of the year organised by Progressive Property.
Learn from two of the leading property investors right now, Grant Cardone and Mark Homer. Grant Cardone is the Founder of Cardone Capital, and his personal property empire is currently valued at over $900 million. Meanwhile, Mark Homer is the Co-Founder of Progressive Property and has bought, sold plus manages 850 properties.
There will be an exclusive number of tickets are reserved ONLY for the Property Sourcing Profits Podcast listeners. Make sure to book your VIP tickets here: ly/10xpsp

BEST MOMENTS

“1000 tickets, 22,000 people in the Progressive Property Community, plus the world-class speakers will bring in their tribe as well… we’re going to be sold out!”
“You are going to be addressed by property professionals who’ve been there, done it, know their stuff, continue to do it, and are big stage speakers.”

VALUABLE RESOURCES

10X Property Super Conference with Grant Cardone |7th-8th June 2019 at InterContinental London
ly/10xpsp
Progressive Property Facebook Community

ABOUT THE HOST

CONTACT METHOD

The Really Simple Trick to Successful Deal Packaging

Mon, 25 Mar 2019 00:00:00 -0000

‘You do not have to do it alone, if you’re not getting the results you need then find yourself a Mastermind Group and get into it’

In this episode, David explains the vital component that any deal packager should be making use of to grow their business. He takes on the those who say you can’t package a deal unless you know the strategy inside out and explains why this is wrong and what you should do if you want to make progress fast.

KEY TAKEAWAYS

People say deal packaging is not easy, you’ve got to honour your investors by finding them fantastic deals and if you are going to find the deals in any strategy you have to understand that strategy.
If you are looking for a fast start do you have to be a seasoned property professional
in your chosen strategy? The answer is no but what you do need is to be able to talk to someone who is an expert and knows how to do it.

The benefits of a Mastermind Group

In a group, there are experts across different strategies. You pay to be part of a Mastermind Group, to be in that room so you can leverage their experience and expertise to help you in your deal packaging business.
It accelerates the journey, they can tell you what you need to be able to package a particular strategy properly.
Being part of a Mastermind Group is investing in yourself to get back up and support.
You will be getting yourself amongst a group of people who know how to do it. They are a power team who’ve been there and done it multiple times and if you are part of the Mastermind Group, they will be able to help you.
It's vital that you implement exactly what you are told and this will lead to deals and fees.
Being part of the group means that if you get stuck at any point you can go back to your group seek advice about what you should be doing differently and then adjust.
You do not have to do it alone, working in property can be a very lonely business but if you’re not getting the results you need then find yourself a Mastermind Group and get into it.

BEST MOMENTS

‘If you are not using it, you really should’

‘Suck all the knowledge out of them and go and put it in your business’

‘Do not listen to anyone who says you can’t package deals unless you’ve done the strategy for umpteen years’

‘There are such cool people in my Mastermind Group’

‘Put yourself in front of other people who know how to do the other stuff’

‘Just try and do what they say, because they know what they are talking about’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

How to Find Investors QUICKLY; Get Out There& Market Yourself!!

Mon, 18 Mar 2019 00:00:00 -0000

In this episode, David offers detailed advice on how to find investors quickly.

Using real life and current examples of deal packagers who need to find investors quickly, David explains why they are in this position and the step by step actions they need to take immediately to move forward.

If you are a deal packager this podcast is a must, to help you build a positive profile and market yourself effectively, tune in now.

KEY TAKEAWAYS

How do you find investors?

The quickest way to find investors is through Facebook if you go into property forums and start to talk about what you are doing people will then contact you.

There is lots of access to free online marketing through platforms such as Facebook and LinkedIn.

The quickest fix to finding investors is to use these free platforms to market yourself and let people know who you are and what you are doing.

How can you build your profile?

You can diarise your journey through photos and text. You can blog about what you are doing. Posting regularly shows you are active and lets people get to know you.

People buy people, it’s a people business

Providing access to your journey lets people get to know about you and most importantly who you are. People are able to identify with you and ultimately this is what influences people to want to be involved.

Successfully packaging and selling deals

If you have a passion for doing bigger deals you should still start with the smaller deals, make your mistakes and learn from them before you move to the bigger deals.

To get a big development package over the line you must have direct contact with the person who is in control.

If local property developers haven’t gone for it and it's now with property packagers all over the country then it doesn’t stack up.

Focus your business on sourcing single lets and HMOs once you have a source of single lets and HMOs you’ll need to build a database. There is good demand for good solid, single let family houses that will over time get capital growth.

Marketing yourself

You’ve got to market your business and tell people who you are. Take them on the journey with you. Marketing is key and you can get results really quickly.

It is vital that you consistently and continually market yourself. The key is to get out there. People can’t invest in you if they don’t know who or where you are.

If you are posting a blog or visiting forums it's vital that you do this consistently and provide value for people. This will raise your profile and enable people to find out about you.

BEST MOMENTS

‘Where the machine is broken, where I see you are not turning stuff into money it is because you don’t have enough people to buy your deals’

‘There is no quicker fix, than online marketing that is free’

‘You do not have to do videos, I understand that might be a step too far’

‘I've walked the walk I've made the mistakes’

‘It's very unlikely you are going to get that deal over the line’

‘By all means, have a go because it’s an education, but don’t think it's going to make you rich’

‘People have a hunger for single lets’

‘She listened to what I said, it took ten minutes to compose it, one minute to post it and now there’s a new investor’

‘You are playing at it if you are not using free social media to find investors’

‘That is not going to build your business, it will be too slow’

‘Maybe they are going to like what they see, but the time just isn’t right’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

https://itunes.apple.com/gb/podcast/property-sourcing-profits-podcast/id1384873667?mt=2

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

How to Achieve Passive Income From Property& Fuel Your Passion

Mon, 11 Mar 2019 00:00:53 -0000

‘Surround yourself with the right people because one thing leads to another’

In this episode, David is in discussion with Toni Gargan, who with her partner has built a lucrative property portfolio and developed a successful career as a public speaker.

Toni shares her journey and the importance of having the right support to secure rapid growth for your property portfolio. If you are wondering about how to begin in property investment then this inspirational podcast will tell you how and why you should get started now.

KEY TAKEAWAYS

Why property?

The move to be in property was inspired by my husband’s interest and his drive to be his own boss. He was also looking for a way to leave a job he was unhappy working in.

We undertook some property training and realised that you can do it with the right knowledge and help. We began by spending a minimum of 10 hours a week researching property.

Why did you choose progressive property?

We had been to a different training company previously and although the training was good there was no support network available and this put things on hold.

We continued our research and learning through webinars and listened to a podcast by Rob Moore that was about network and support. This made us realise that it was possible to begin a property journey with the right support network and opportunities to continue learning.

We attended a one-day event and it changed everything. It was suggested that speaking at property events might be something I could do.  It really interested me and was a possible income stream but we needed to have a property portfolio so that people would buy into us as people.

Where are you now?

Now I deliver for lots of training across a range of events for Progressive Property. The passive income from our property portfolio gives me the opportunity to pursue my career as a public speaker.

I deliver different training around joint venture finance, property and public speaking and I totally love what I do.

What skills have you developed as a speaker?

I get a huge buzz from speaking but it also helps with property and getting good deals. It has helped me to raise finance as I am often approached by possible joint venture partners when I speak at property events.

How important is the VIP community group?

When I initially walked into the room and everyone was networking, it felt overwhelming but I soon realised the atmosphere was full of energy and positivity.

People opened the group up to let you listen or speak and to be a part of it, I’d never experienced anything like that before.

Where are you now in your property journey?

I was frustrated as we were finding deals but were then unable to act because we didn’t have the money. My mentor highlighted the choice I was facing ‘100% of nothing or 50% of something through a  joint venture’

It was a moment of change when I realised joint venturing was a positive solution to the challenges we were facing.

The relationships we had built with various agents and knowing what we could purchase a property for, was the catalyst for developing property packaging, it was missed money not to package them.

Currently, we have moved into working with blocks of apartments and are in the position where following the refurbishment there are multiple possible exit options.

BEST MOMENTS

‘A big part of it was being part of the community’

‘A massive part of it was having help from other people’

‘I’m like a dog with a bone if someone sets me a challenge its ‘watch me do it’

'No one is going to buy into us unless we have a property portfolio'

‘Because of my property investments, all my basic needs and costs are covered’

‘You don’t think you are ever going to be there you're seeing all these great things’

‘You’re finding these great deals and what are you doing with them’

‘I’d missed out on so much money waiting to raise finance’

‘Following the system with intelligence and energy’

‘Holding the asset is what makes you wealthy over time’

‘Start with the end in mind, sit down and work out what might happen for any eventuality’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

https://itunes.apple.com/gb/podcast/property-sourcing-profits-podcast/id1384873667?mt=2

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

https://www.linkedin.com/in/toni-gargan-627b0a100  

ABOUT THE GUEST

Toni Gargan is a Double World Record-holding Public Speaker, Mentor, Entrepreneur, and Professional Property Investor. She acts as the Director at Owen Oliver Property, a family-run property investment company helping others gain passive income through investing.

Aside from building her amazing property portfolio, she’s also a full-time mentor for property investors through Progress Property and Unlimited Success. Toni has since then discovered her true passion – helping others by training and mentoring through public speaking.

She now hosts her own show, Presenting, Pitching & Public Speaking Podcast, which aims to help you be confident, improve your speaking & communication skills and present better for you, your team, and your business.

CONTACT METHOD

https://twitter.com/tonigargan?lang=en

Deal Packaging SA Successfully

Mon, 04 Mar 2019 00:00:52 -0000

In this episode, David takes a deep dive into packaging SA for investors. He takes us through this complex area providing detailed information and advice based on his own extensive experience.

If you are a deal packager this is a podcast you should be listening to, so that you can confidently add SA to your portfolio of offers for investors.

KEY TAKEAWAYS

Houses, not flats or apartments

Houses are usually freehold whereas flats are usually leasehold. A leasehold usually doesn’t permit short term lets. SA occupants arriving at unsociable hours could also be disruptive for other owner-occupiers in the block.

Insurance is vital

We have insurance in case there’s a problem and the incorrect insurance can really hurt people as when things go wrong it can result in no one taking responsibility.

Make sure you have the right insurance for the use of the house. You’ve got to look after both your investor, yourself and stay safe.

Finance

Make sure you are working with lenders who specialise in finance for the SA market.

There are lenders who will lend up to 75% of the purchase price based on postcode and the experience of the purchasers.

Planning

If you are buying a house, if used as SA it will usually remain as C3, residential use. Councils can take the view that SA does not change the use of the property, it changes the term under which the property is occupied.

Capital allowances

HMRC will approve capital allowances for commercial buildings. Capital allowances are tax relief, for bits of the building that are not actually the building, and it applies to commercial buildings. If you are buying a house for SA it is classed as a commercial building.

Get a professional capital allowance assessor to come in and tell you what is possible.

Returns

The investor is going to be interested in the possible returns on a particular building.

In SA you can get multi-let returns in a single building.

The SA management is key

The most difficult thing in SA is management.

Investors want hands free management, they might be located hundreds of miles away.

Access local property forums and find out who is managing property successfully in the local area. The SA management team is vital, and the deal can be broken or made through the quality of SA management.

Council tax

Look at changing the property to business rates as it is a commercial building.

What’s the advantage? If you have one house in a local authority area you can then apply for small business relief and this could potentially result in a zero-business rate.

BEST MOMENTS

‘Packagers have to know how to package every type of property’

‘Everyone wants a bigger return on their money’

‘I like to keep it simple, so we source houses’

‘As soon as you begin to rent out individual rooms you will require planning to change usage to C1’

‘Remember as the packager, you source everything, take your fee and move on, it's your investor who will be doing this’

‘It's like the wild west out there at the moment’

‘Let’s party while the party is on’

‘The returns are the big seller, you are going to get the investor’s attention’

‘In a rent to rent your margins get squeezed very quickly, the bottom-line profits can be very disappointing’

‘It’s a strategy that offers investors massive uplift and good returns on their investment’

‘You should add it to your portfolio of offers as a deal packager’

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

https://itunes.apple.com/gb/podcast/property-sourcing-profits-podcast/id1384873667?mt=2

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

https://www.facebook.com/groups/progressivepropertycommunity/

#033 I'm so Excited! If You Want to go Far, Then we go Together

Mon, 25 Feb 2019 00:00:09 -0000

In this episode, David shares his excitement about creating a deal package in coalition with another deal packager. He explains the advantages for everyone in approaching property packaging like this and how trusted packagers working together across different parts of the country can all be successful.

KEY TAKEAWAYS

Proverb - if you want to go quickly go alone if you want to go far go together

If you work together you can go twice as quickly, twice as far.

People believe that they won’t be able to find a deal in or around London however they also will say ‘yes’ if asked about whether they believe property deals are done every day in London.
In London there is low yield but great capital growth
In the North of England, you can secure deals which will generate 10% gross yield but the capital growth is low.
We can all work together as a group of trusted property packagers all

earning money by working with preferred partners in different parts of the country.

Good solid family properties in good family areas sourced in the North and then in partnership with a property packager working in the South of the country who seeks investment for the package.
If you are working in London the quickest way to monetise your packaging operation is to form a coalition with a property packager working in the North who is sourcing great properties.

BEST MOMENTS

‘Let me try and help you make money’

‘By 2030 property prices will be so much higher’

‘You don’t need property to get into property what you need is a partner’

‘It’s the easiest way to get cash into your life’

‘I’m seeing evidence that it's happening now’

‘Some extraordinary deals are being done’

‘Most of the money in this country is focused in the South East area’

‘If there was a common language maybe we could find some synergy’

VALUABLE RESOURCES

https://itunes.apple.com/gb/podcast/property-sourcing-profits-podcast/id1384873667?mt=2

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

https://www.facebook.com/groups/progressivepropertycommunity/

#032 Tyre Kickers and Time Wasters - How to Get Them Out of Your Life

Mon, 18 Feb 2019 00:00:35 -0000

How can you work out if they are serious investors?

In this episode, David provides detailed advice about how to make sure your potential investor is serious. He provides us with key questions and explains why they are vital to ensure you can build a positive relationship with your investor. Listen in now to find out the questions you should always ask

KEY TAKEAWAYS

It's important not to give up even when the circumstances are challenging. If you are persistent you will find someone who you can then build a relationship with and then you will need a process to help identify if an investor is serious. The following questions will drill down for you and your potential investor.
What is their contact data?

You must capture their data and check it.

What is their trading style?

It’s important to know what sort of investment they are looking for.

What are their current circumstances?

You need to know about work and if they are self-employed.

What is their property experience?

If you are new and they are new it might not be a good match.

Can you provide proof of funds?

You must ask for proof of funding to be compliant with regulations. This question can be a hurdle for some people new to source packaging.

Are you investing alone?

It’s important to understand in detail where the finance is coming from and who you are dealing with.

What is it that you want?

If the answer is I want cash flow and low cost of entry you can provide a package for this but investing in property is what generates wealth over time.

What strategies does your investor want to follow?

This is a big investment, so they need to understand exactly the project they are getting involved in and the differences in potential returns.

What are their goals and plans?

What do they want to achieve, where do they want to be in a year’s time?

BEST MOMENTS

‘Single lets are still the go-to choice’

It’s a mental discipline and struggle to keep going when we suspect we are wasting our time’

‘You need to drill down’

‘All you find is others looking for cash like you’

‘We’ve just got to do what we do’

‘A worry can be that they are just looking to tap into your research, or it can be that they don’t actually have any money’

‘It’s all about building rapport’

‘You can source to order’

VALUABLE RESOURCES

https://itunes.apple.com/gb/podcast/property-sourcing-profits-podcast/id1384873667?mt=2

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

https://www.facebook.com/groups/progressivepropertycommunity/

#31 Advice For New Investors

Mon, 11 Feb 2019 00:00:39 -0000

In this episode, David shares some invaluable information and advice for property investors at the start of their journey. Listen in to hear where and how you should be packaging deals and investing right now.

KEY TAKEAWAYS

Capital growth

Capital growth makes you wealthy, and if you want capital growth you need to be investing in London and the South-East, there are some areas outside of this elsewhere in the country, but the property is at southern prices.

There is a sweet spot in the Midlands where you can still find a property that gives you capital growth over time with reasonable returns currently.

If you want to package deals in London what should you be doing?

In and around London student apartments in older buildings can be reconfigured from studio to 1 bed and single bed to 2 bedrooms.

Look for flats that have rights for the loft space as these can be reconfigured to use that space.
Title splits

Sometimes you can find a building that is on one title even though it is made up of flats. This provides an opportunity to take the freehold building with flats within it and set individual leaseholds for each flat.

There is a market value for each freehold lease. There is a cost, for splitting the units but a huge value in selling the freeholds.

Retail units

Retail units with accommodation above are the next commercial to retail.

It is possible to achieve good forced capital growth through refurbishment of these buildings.

BEST MOMENTS

‘This can be done’

‘It is possible to gain a huge uplift’

‘They’ll sort it for you’

‘Huge amount of wealth in just one deal’

'If you buy a house in London today, absolutely in 2030 it will be worth more money’

‘Yes, there will be bumps along the way, but it will right itself’

‘If there is a way to fund the deal they will fund the deal’

VALUABLE RESOURCES

https://itunes.apple.com/gb/podcast/property-sourcing-profits-podcast/id1384873667?mt=2

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

https://www.facebook.com/groups/progressivepropertycommunity/

#30 Get Yourself a Mentor to Rocket Fuel Your Business

Mon, 04 Feb 2019 00:00:00 -0000

GET YOURSELF A MENTOR

DESCRIPTION

‘The value of mentorship is huge and the insights my mentors provide are incredible’

In this engaging episode, David compares his previous experience of business with no mentor to that of both being a mentee and more recently a mentor.

If you want to find out about mentorship from all the different viewpoints listen in and David will share all.

KEY TAKEAWAYS

As a mentor, I have learnt there are 3 key things that any mentor needs to understand.
People are Smart

Everyone understands that they are building their own vision and dream.

People are different and they express their smartness in different ways.

As a mentor, you need to understand that people are different, and people are smart

People want to have Success

Success means different things to different people.

Are you an empire builder or a lifestyle entrepreneur?

An empire builder will put everything in life second to the vision they are pursuing. A lifestyle entrepreneur is seeking to gain enough to live the lifestyle they want.

The advice a mentor gives an empire builder will be very different from the advice for a lifestyle entrepreneur.

We are stronger together

We all need someone who has more experience and has already walked the path. Someone who can listen to you, advise you and guide you.

If you can access a group of other mentees then the rewards of being part of a group can be very positive as you learn from each other.

BEST MOMENTS

‘Find yourself a mentor, someone you can connect with to share challenges and triumphs’

‘I have a big idea and I want to do the big idea’

‘I’m getting better at focused advice’

‘I initially found mentoring very stressful because I was concerned about the responsibility’

‘Today I am mentored, and I have somewhere to go to share my goals, concerns and worries’

VALUABLE RESOURCES

https://itunes.apple.com/gb/podcast/property-sourcing-profits-podcast/id1384873667?mt=2

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

https://www.facebook.com/groups/progressivepropertycommunity/

#29 Gross Yield or ROCE or ROI? You NEED to Know This Inside-Out...The Thing is That Investors Dont Know This!!

Mon, 28 Jan 2019 00:00:00 -0000

This highly informative episode explains gross investment and net income in a clear and concise way for all of us who are interested in property investment. David includes detailed examples so that anyone listening will be better informed and have a more in-depth understanding of how to calculate the key numbers.

KEY TAKEAWAYS

Property sourcing and deal packaging is a bespoke business where you are sourcing the specific requirements of a particular investor. It is about matching the numbers in order to reach a deal.

Gross Yield

This is a number that everyone in the property market should know. Investors need to know it and it is the number deal packagers have to meet.

It is the total income from the house, the total rent roll - if it is a single let it will be the one AST and the rent is easily identified. If working with HMO add up the income from each room. If you are calculating for SA, it is the total income from your guests in a calendar year.

The total is then divided by the total cost of acquisition.

The acquisition cost is the price of the property, stamp duty, accidentals and deal packaging fees.

Take the gross income figure and divide by the cost of acquisition figure. The outcome is then usually expressed as a percentage.

ROCE

Return On Capital Employed (ROCE) - this is absolutely key and the number that the investor is most interested in. It is the return on the capital they’ve got employed in a deal.

To work out the ROCE you need to know the net income. Take the gross rent figure and deduct any cost of ownership e.g.in an HMO the cost of insurance, wi-fi, water rates, cleaning etc. If it is a single let the deduction will be the agency fees and repairs. These amounts are all deducted from the income figure. You finish up with a net income figure for a 12 month period.

Your net investment in the deal is calculated by – taking the net rent roll after all costs and dividing it by net amount of money left in the deal.

Gross Yield – the gross income divided by the gross cost of acquisition
ROCE (Return on capital employed) – the net income divided by the net amount of money you’ve got left in the deal

BEST MOMENTS

‘We are here to serve’

‘Vital information for you, make sure you get it right’

‘In property, you are mixing together the concept of net income against a gross investment’

‘There are only 2 numbers you need in property gross yield and the return on capital (ROCE)

‘Investors tell us what they want, and we go out and get it – a bespoke business’

VALUABLE RESOURCES

https://itunes.apple.com/gb/podcast/property-sourcing-profits-podcast/id1384873667?mt=2

ABOUT THE HOST

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

#28 David After Dark; So You've Found a Distressed/Motivated Seller. Great! Or is it....

Mon, 21 Jan 2019 00:00:00 -0000

Have you ever come across a distressed vendor? Have you ever considered what to do when you encounter a property owner who’s desperate to sell? In today’s episode of the Property Sourcing Profits podcast, your host David discusses how you can turn distressed vendors into motivated sellers and shares with you why it could be a good thing for your property sourcing business.

KEY TAKEAWAYS

Who is a distressed vendor? This is a vendor who desperately wants to sell.

Distressed, motivated sellers, is it a good thing? This could be a good thing because you might be lucky enough to buy a property BMV and later on sell it at a profit. You stand to make a very good amount of money because the distressed seller might have sold it to you at a very low price because he needed to desperately sell the property.

What you need to do if you get a Landlord with 8, 10, 15 houses on the market. Know the addresses and want to know who the lender is. Once you got the addresses, you can go to the land registry, do a search for three of the properties. Don’t do 10 or 15, pick three or four addresses and go to the land registry, payout three pounds on each, maybe 12 quid in total and see who the lenders are. Know when the distress vendor actually bought the properties. You also need to know how long the mortgage term is.

Why you need to be cautious with distressed vendors. If it is one of those lenders who specialize in the day one re-mortgages back in the day, then alarm bells need to ring and they need to ring because those lenders are no longer actively lending in the market and they've probably sold on their mortgage books to different companies who are not mortgage providers. They are basically trying to collect as much money from the mortgagees as possible.

BEST MOMENTS

“New Year resolutions, keep on it, keep at it, a New Year’s resolution is not just for the New Year, you have to keep at them all the years.”
“From distressed sellers, motivated sellers, you get a deal.”
“If a distressed vendor won't move on his price, there's an alarm bell ring in there.”
“Go out and find your distress vendors. There are some good genuine people out there, good distressed vendors; they're the ones you need to work with.”

VALUABLE RESOURCES

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

CONTACT METHOD

LinkedIn: https://www.linkedin.com/in/david-siegler-7b126316/
Facebook: https://www.facebook.com/DavidSieglerInvestments/

#27 Don't Like Gardening? Then THIS is For You!

Mon, 14 Jan 2019 00:00:00 -0000

Developing a garden is one way you can add value to your property.

In this episode of Property Sourcing Profits Podcast, David lets you in on everything you need to know about in-filling or garden development. What David presents today is a real case study (with real numbers) from one of his mentee. He hopes that you learn from this perfect example and learn how you can add value to your property by exploring the benefits of building a garden. Discover also the things you should consider or look at before you decide on doing it so make sure to tune in.

KEY TAKEAWAYS

For example, how do you know that you have an in-filling/garden development opportunity right in front of you?
- The house as is on the market for £350,000. It’s a 3-bed, 2-bath family home, 2 receptions, significant detach building. It’s a bungalow.
- And the vendor is willing to consider the range of £300,000 - £350,000 because according to the state agent the bungalow needs updating significantly.
- What’s even cooler is the garden is big enough to separate off the rear part of the garden and most of the garden to build a new house on it.
- It will cost £150,000 to build the new house. £200,000 will cover the building plot and the potential profit.
- As a deal packager, after uplifting the value, you can get a really massive fee.
Things to Consider Before Developing the Garden
- Talk to your local highway authority/local council. Are there going to be issues with accessing public highways from the garden?
- Check if the levels of the ground are sensible.
- How big is the house for the garden? 85 square meters is what you need.
- The cost to build it. It will depend on the specification and where you are situated in the country.

BEST MOMENTS

“When you can find an in-filling opportunity – a garden development site opportunity, then you’re certainly adding value for your investor and your investor needs to know about it.”
“A deal packager doesn’t have to know the numbers inside out. A deal packager has to know the numbers sufficiently to prove to the investor that there’s an opportunity here.”
“It’s not risk-free for the investor… which is why I say that you shouldn’t go to a newbie. You’re ought to go to someone who’s experienced, seasoned, and knows what they’re doing.”

VALUABLE RESOURCES

Progressive Property Facebook Community

ABOUT THE HOST

CONTACT METHOD

#26 Direct to Vendor Visit

Mon, 07 Jan 2019 00:00:00 -0000

Want to land on a deal as smooth as possible?

Today on Property Sourcing Profits podcast, we learn directly from the expert, Kevin McDonnell. Kevin is a Serial Entrepreneur, Author, Property Investor and Public Speaker and is regarded as the foremost expert in the UK when it comes to creative property investment strategies.

Our host David, together with Kevin, enacts a vendor-seller purchase – from the phone calls to the in-house meeting to actually landing the deal. The episode is divided into these 3 parts. After every section, they give great tips you can use in your future sales.

You’ll encounter different kinds of clients, so this episode could be a starter for you to actually build a rapport with them and help them sell their property. Make sure to take down notes so you can focus on getting big property deals in the future.

KEY TAKEAWAYS

Ask everything about the house you’re selling from how it looks like to the time how long you’ve got it to the contract terms to its features. Prepare your critical questions before the call so you won’t miss anything. You’ll be needing this to know how you’ll structure and price the property.
Build rapport and show you really want to help the client. Always call the client by his name when communicating and ask nicely. Observe how he responds to your questions during the call so you’ll be ready to deal with his character face-to-face.
During the in-house meeting, make sure that you didn’t miss anything. Know the client’s motives and urgencies.
- To build rapport, try to find items (e.g. photographs) that could be the start of the conversation and loosen up the atmosphere a bit.
For sure, the client would want his property to be sold at a higher price. It’s your job now to make him understand and settle on a reasonable price.
When you’ve agreed with an amount, make sure you update them with the schedule while sorting out the search for a buyer and other processes.

BEST MOMENTS

“Obviously, he still thinks the house is beautiful, and I didn’t I focused on me saying the house wasn’t. I focused on how every type of person has their own preference for what they like in the house… so I’m not making him dislike me for saying the house isn’t nice. I’m making him understand that people are different.”

VALUABLE RESOURCES

ABOUT THE HOST

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.

ABOUT THE GUEST

Kevin McDonnell is a Serial Entrepreneur, Author, Property Investor and Public Speaker and is regarded as the foremost expert in the UK when it comes to creative property investment strategies. He is the Author of “No Money Down Property Investing” and “The 7 Biggest Mistakes when starting out in property & how to avoid them”.

CONTACT METHOD

Kevin McDonnell

#25 Let's go SHOP-ping in 2019

Mon, 17 Dec 2018 00:00:00 -0000

Shops and retail space is one of the most exciting opportunities for property investors and deal packagers, in 2019. It doesn’t matter where you live or where you invest, SHOP-ping is the property strategy that can be deployed anywhere. Tune in to hear David explain where to invest and how to locate the secondary and tertiary positions that are perfect for investment.

The retail industry is in disarray and you and your investors can profit by targeting shops, retail space and lock-ups in the ex-high street areas throughout the UK and in today’s episode David shares with you a personal case study of how to do this and why!

If you want to work with David, contact him using the links below:

KEY TAKEAWAYS

Town centres, however, might not be your ideal investment. It’s the secondary areas, the tertiary areas that can be the best investments. This is the high street that used to be the high street.
Find yourself an ex-retail shop with self-contained flats above that has access at the rear. Once you have found this type of property you can look into the numbers: The whole building is classed as a commercial building and therefore falls under commercial lending, now if you’re clever and consider serviced accommodation you can change the rent roll and earn a higher monthly income. The final thing to do is let out the shop below (£100 pw) so that it is occupied. Because this is a commercial building you can also look at withdrawing some capital allowance from the property for your investor.
Retail shop occupiers are liable for the shop and its upkeep. However, you must take a 6-month rent upfront to pre-qualify your tenants. Remember If they are 14-days overdue with the rent you can send the bay lifts in and you can easily find a new occupyier.

BEST MOMENTS

“If you can, test drive your investments so that you can serve your investors better by knowledge the market and have experience in what you’re doing.”

“There is retail stock everywhere, you just don’t recognise them.”

“We are looking for ex-high street shops”

CONTACT METHOD
David’s LinkedIn
David’s Facebook

#24 The Next 4 Weeks Can Change Your Life

Mon, 10 Dec 2018 00:00:00 -0000

The next four weeks could change your life. The truth about December is that everything stops and things slow down. Solicitors shut down, Estate Agents aren't doing viewings, it’s the time of the year that you can really leverage to build your business, build relationships and discover your local goldmine area.

In today’s episode, David shares with you why this time of year is crucial to your success in property and packaging deals. He explains how to use the December slump to your advantage and gives you the scripts to use to build rapport with your local estate agent.

If you want to work with David, contact him using the links below:

KEY TAKEAWAYS

There is a shortage of stock in the market, a lack of houses available to be packaged up and sold on. This is generally down to the state of the market. Vendors are uncertain and unsure what’s happening with property prices. In 2019 if the political uncertainty continues, property prices are going to dip. This is a great opportunity for you because you will be buying at down-turning property prices. This is why the next 4-weeks are crucial to your success in property, estate agents are not busy during this period, this is your chance to get in there and build a relationship with your local estate agent and share your story.
Moving forward you want to be using property strategies that maximise the yield of your properties. Your investors will be happy if you’re buying in the downturn because that’s where the money can be made. By 2030 property prices are going to be a lot higher than they are today. So you secure a deal and you find one that one the the property strategies fits so not only will the investor sell the property for more in the future they will make a profit while the value increases.
The Estate Agent Script: I am sourcing properties to sell to my investors. If you were buying, what streets would you buy in so that you found good quality, lettable houses that will attract the right tenants? You know the streets because you’re local and professional, could we go out and see some properties?

BEST MOMENTS

“Prices in London and the South has stalled.”

“People are sitting back and waiting to see what happens.”

“Can you add value to the investor by souring multi-let properties? Check if there is an Article 4 is a planning issue because some HMO’s have changed the proliferation of some streets in the UK.”

CONTACT METHOD
David’s LinkedIn
David’s Facebook

#23 The 12 Days of Christmas - How to Make a Rocket-Fuelled Start to 2019

Mon, 03 Dec 2018 00:00:00 -0000

In today’s episode of Property Sourcing Profits, David discusses two types of people, two types of friends who want to get into the world of deal packaging and the 12 tasks you need to do, to get your deal packaging business up and running. Hop on to this episode to learn and find out more.

KEY TAKEAWAYS

The two types of people, two types of friends who want to get into the world of deal packaging.

Welcome on new people to deal-packaging. Those haven't started yet who maybe got plans in 2019 to move their business to the next level. Packaging is the vehicle they're going to use to propel themselves into the world of property.

Those of you who may have already started the journey, but you faulted. You paused. You didn't do what we told you to do.

12 tasks to get your deal packaging business up and running.

Business cards. It's a tool of your business; it is not just an extravagance that nobody ever going to read and stuff like that. It's a tool, if you're going networking, if you're going to meet potential investors face to face you need to have a business card.

Get yourself a folio. Get a presenter pack, because you're going to have to present your deals to your investors.

Network meetings. Networking is the key.

Trading profile. How are you going to trade yourself? If it's the first time you set up your own business or your own company, then you've got a choice probably, but talk to your accountant. How are you going to trade, you need to think about that.

Compliance. Deal packages we are considered under the estate agents act 1988 as estate agents we are regulated that we have to comply. Compliance is very, very important.

Marketing. If you want your business to always be at the top of the game, you have to know how to market your product in the right manner.

Estate agents.

Director vendor marketing. Just get yourself into local buy and sell groups local to where you want your property, your property hotspot is. Position yourself, give content, help people, and build your profile that people will want to connect with.

Leaflets. Leaflets do work, post the leaflets in the area you want the property regularly but not many of them. Do that for months, like five months.

Direct vendor letters. Send letters to houses that been on the market for a long time.

Investors. Start promoting yourself online.

BEST MOMENTS

“Networking is the key.”
“Compliance is very, very important.”
“Marketing is huge for you and your business.”

VALUABLE RESOURCES

www.booking.com

Airbnb
Facebook

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

#22 Making The Low Ball Offer Without Feeling Embarrassed. I Will Show You How

Mon, 19 Nov 2018 00:00:00 -0000

In today’s episode of Property Sourcing Profits, David discusses making the lowball offer to secure your deals. How do you make a low ball offer without ruining the relationship you have with the estate agent? David gives you a helpful script that he uses in this type of situation.

KEY TAKEAWAYS
• Lowball Offer. This is a very powerful strategy. You need it in your criteria. How do you summon up the nerve to make a really low ball offer? What is the right number? What is the number that you can put forward in good faith maintain your relationship with the estate agent and serve your investor too so that you get paid.

Gross Yield. This is a concept that everyone in property understands and should understand. The total gross rent roll. The total gross rental. No deductions. The gross rent that is achievable for that property. You divide the gross rent by the cost of the acquisition. So that's the cost of the property, the price that you pay and all the transactional costs associated with the purchase.
Reverse Engineering. This is what David uses when he wants to make a low ball offer.
Brexit. This is having an effect on the property market. This is not a political point. This is about real-world property stuff. There is a pause. Investors are holding back. There is uncertainty. They don’t know what is going to happen. But you can use this to your advantage in your negotiation. Remember that Brexit is your friend.
Justify your offers. The important word in making a low ball offer is justification. You got to be able to justify your offer. If you can justify your offer to yourself and to the estate agent, then there is no need to be embarrassed about it because you are a property professional. The estate agent knows you're going to be looking for a discount if you looking for a significant discount and all you got to do is justify it.

BEST MOMENTS

“Deal packaging. This is about people and arithmetic.”

“You gotta try and get towards double-digit growth you 10%.”

“I believe this with volition is that the most houses that you will see in the shop window will not achieve 100% the offer price. They won’t.”
“They may accept it. They may not accept it. But here's the thing, you have justified the offer you have.”

“Use every tool that you have available when speaking to estate agents to get the discount in the deal for your investors. The more you can say for your investor the more impressed they will be, the more professional they think you are. However, you can't just walk into the estate agent who you also need an existing relationship with and just make a low ball offer on top of lowball offer with no justification.”

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
David’s LinkedIn
David’s Facebook

#21 The B Word - Brexit - What does it mean to Investors and how we can use it to our advantage

Mon, 12 Nov 2018 00:00:00 -0000

In today’s episode, David dares to share his views on the B word. BREXIT. What it means for property investors and how you can use it to your advantage. Discover the reasons behind the property markets booms and busts. The trigger point of downturns and the circumstances of property rises. Tune in today to hear the lessons David has learned through his decades of experience investing in property, in a variety of economic climates.

KEY TAKEAWAYS

In 1974 was a property crash. House prices were booming and they had to go down. But what was the trigger? David believes it was the rise in oil prices that caused the market to crash. But by 1981 property prices had boomed higher than even the peak before the crash in 74. Yet they were set to crash again, but this time a different trigger. Probably the political economy enforced by the Thatcher government at the time.
From 1981 - 1991 the property market soared with prices booming for a decade. Until another economy driven downturn in prices. At this time the UK was in the ERM (the forerunner of the euro) and at the point of leaving, UK interest rates were at 30%.
In 1996 the buy-to-let mortgage was born. We could now go out and buy investment properties for roughly £25,000 which today would be worth £100,000 - £130,000. Property prices continued to rise and rise until 2008 when it changed again and there was a turn in the market. Economically the 2008 crash was inevitable. But what triggered it? The point is we don’t necessarily know and ever since the prices have continued to grow steadily until today.
To serve our investors we must know the market and we know that the underlying principles of property prices are the same. It will either go up, or go down. Are we investing for cashflow? Or for capital growth? Over the last 10 investors have generally been investing for cashflow. Adding value to properties with strategies such as multi-lets and serviced accommodation.
Deal Packaging is the ONLY strategy that works in any economic situation. In a rising market, we add value with multi-lets and serviced accommodation. And in a market that’s falling, we can source BMV deals, and find the right house in a falling market.

BEST MOMENTS

“There will be a crash in property prices and then a boom. The boom will see prices rise higher than they were when they crashed.”

“The average inflation rate during the Thatcher period was 9.9% an unthinkable amount in today’s economy.”

“The cycle always moves on, it zigs and zags.”

“The property market ebbs and flows, it goes up and it goes down.”

“We have been working in a rising marketing for the last 10 years. We do know that property prices will fall, but we don’t know when”

“Serviced Accommodation produces multi-let returns on a single-let property.”

CONTACT METHOD
David’s LinkedIn
David’s Facebook

#20 What we do is NOT difficult - don't give up in 6 weeks

Mon, 05 Nov 2018 00:00:00 -0000

Welcome back to the Property Sourcing Profits Podcast. In this episode, David shares with you the lessons learnt from a coaching call with one of his deal packaging mentees. Discover the simple things we need to be doing to achieve success in property and how you too can start your own property sourcing business, just by building good relationships with the people around you.

Deal packaging is a people business. You need to form relationships with estate agents, solicitors, mentors and other property people. By building your power team and leveraging their skills and experience you will be a success.

KEY TAKEAWAYS

What we do is not difficult - Being a property investor and deal sourcer is not difficult. All we need to do is view properties and not over complicate it. We also need to build relationships, with our investors and our local estate agents, it’s not hard. Simply position yourself as a serious, professional and trustworthy investor.

Build relationships in all areas of your deal packaging business. You can do this at networking events and property meet-ups. The need for this is to leverage their expertise, leverage their experience and ultimately build your power team. These are the people that you will need around you to be successful.

BEST MOMENTS

It doesn’t matter what your strategy is, there are overriding issues in our property businesses that we need to deal with.

Estate agents are there to sell property. They want to work with professionals and people they can trust. You just need to put yourself in that space.

Even if you don’t have an investor for a certain deal, the estate agent will hold it back for you if you have a great relationship with them.

When building relationships you need to follow up with people and seek their help. The money is in the follow-up.

Get yourself a mentor and leverage their experience so that you can learn from their mistakes.

Find the people that can help you on your journey and build relationships with them so that they can help you on another level.

CONTACT METHOD
David’s LinkedIn
David’s Facebook

#19 First Steps - How to Get Started - A Real Life Case Study

Thu, 25 Oct 2018 10:56:45 -0000

Welcome back to the Property Sourcing Profits Podcast. In today’s episode, David shows you how to get started in property, begin sourcing deals, selling deals and getting paid. David goes on share a real life case study of an up and coming deal packager, out there looking at deals.

Discover what you need to do to get started and the returns you need to target in order to begin making a career out of property sourcing. If you’re looking to secure property sourcing profits and learn how to calculate your investor ROI on the stop, this episode if for you.

KEY TAKEAWAYS

Whilst you’re establishing your trade and scoping out your business, your goldmine area might not be the best place to start. You need to go where there is a low threshold cost of entry so that you can practice your skills and hone in on your techniques.
Case Study: This investor wanted to invest in and around Leeds, his goldmine area. As a test and to improve his property sourcing techniques we decided to start investing in Halifax which has a low cost of entry. We were looking for houses with a minimum of two bedrooms and a maximum of three bedrooms between £45,000 and £60,000 in the Halifax area. This search brought up over 50 houses that we could go and view. We were not looking for a refurbishment project, we were looking for a house that needed a little amount of work to be brought up to a lettable condition. We then looked at the rental value and saw rents of £450 pcm.
The target was to get a rental value of £450 pcm. That’s an annual gross £5,400, divided by 12 months, this generates the investor a gross yield or 9%. This is the return on investment from a £60,000 house.
If you know how to find the deal the investors will come. All you need to do is secure a property with 45-50p in the pound of the uplifted value will (the refurbished value of the property).

BEST MOMENTS
“The purpose of this was to get experience in property sourcing and to test his systems and processes when sourcing property deals. “

“Remember we don’t always know who the investor who purchases our deals is, so we need to make sure the deal is attractive.”

“9% is an attractive deal for an investor. You will sell that deal.”

”Get the investor through the door on and create a cashflowing asset that grosses at 9-10%”

“You don’t need a detailed deal analysis, you just need a pen, paper and calculator.”

“Gross rent roll for the year divided by the cost per purchase and express it as a percentage.”

CONTACT METHOD
David’s LinkedIn
David’s Facebook

#18 Killing the Procrastination Monster

Sun, 21 Oct 2018 23:00:00 -0000

Welcome to another edition of the Property Sourcing Profits Podcast. Today, David shares with you a personal experience about procrastination and how you too, can avoid the procrastination monster and get yourself out there and start getting deals.

What stops us succeeding isn't always our lack of knowledge or lack of resources. It's the fact we simply don't do it enough, we procrastinate and we let the procrastination monster win by giving us the excuses that hold us back from succeeding.

If you can defeat the procrastination monster you can achieve the freedom and the success that deal packaging can give you.

KEY TAKEAWAYS
Tips To Avoid Procrastination

It's too difficult - There are things in life that are hard, sitting in estate agents and building a network to secure great deals isn't. Deal packaging can be a great cash flowing strategy if you get out there and talk to people.
I don’t know what to say to estate agents - You need scripts to follow and a step-by-step system to stand by
Be honest - Go and talk to estate agents, tell them who you are and what you're looking for and form a good relationship and become the go-to investor in your local area.
Get rid of the fear of uncertainty and just go and do it - Go to your local estate agent and make them aware of what you’re trying to do and the properties you’re looking for. Don't be fearful of success, get yourself out there.
If you want to run a successful deal packaging business you need to have the leads coming in from estate agents and the investors ready and waiting.

The Buy, refurbish, remortgage model works great but it always leaves money in the deal. Deal Packaging doesn't.
Implement systems in your deal packaging business - This will allow you to get more done and free up your time to view as many houses as possible and give you the time to build relationships with your local agents.
Don’t be a process person - Get out there and talk to people. Processes don’t get deals over the line, people do. If you have a good relationship with your estate agent and your investors you’ll definitely be a successful deal packager.
Get a local goldmine area - If your goldmine area is a long drive away from where you live, you’ll easily find excuses not to go and to stay at home and procrastinate. Find a goldmine area local to you and spend some time there.

BEST MOMENTS

“Estate agents are your number one tool”

“Get yourself a coach, get yourself a mentor and get yourself out there”

VALUABLE RESOURCES

#016 How To Promote Your Business On Facebook

ABOUT THE HOST

CONTACT METHOD

#17 Brand Building Through Facebook

Sun, 14 Oct 2018 23:00:00 -0000

In today's episode, David discusses how to build your brand through Facebook. Why Facebook? Facebook is where he got all of his property deals and you can too! Facebook is a very powerful tool. Brand building is the key to your success in property and in packaging deals.

Marketing is what we are. You are a marketer. And if you are going to have a good property business, you need to tell people what you do and how you do it. A few people dedicate enough time to marketing but people, property investors should know that marketing is the lifeblood of your business. And Facebook is a great tool to learn so you can be visible and secure the deals you deserve.

David shares with you what you need to learn about Facebook marketing and how to do it right. And the best bit, this is all for free, unless you want to use Facebook Ads which will cost you. David talks about finding the money, finding the people to invest with you, or the deal packages out there, people who have got the money to buy your deals, and pay you a fee for sourcing it. Listen and learn.

KEY TAKEAWAYS
Facebook profile and Business Page. You have to have a Facebook account. Once you have a Facebook account, you will need to set up a Business page. This way, your personal and business life would be separate. Especially when your loved ones, maybe, does not want to see the business side of your Facebook account.

Business page. You can post all of your property stuff here. Your profile friends will not see it unless they like your page, and they want to get access to it. That a different thing. The other thing that a Facebook page gives you as opposed to your profile is the ability to advertise.

Facebook Ads. You can target your market. You can focus maybe on one street, town, zip code, etc. You know your area. You can target investors and deals alike.

Your story. Start talking about your story in property, if you have a property story, but if you haven't got a property story, talk about stuff you've done that is not in property. Talk about who you are, what you are, what your corporate background is, what your job history is, what your passions are, talk about your family. It's really really important that you position yourself as somebody who can do things for people.

Credibility. The purpose of getting your message out there is to build credibility in your Facebook marketing. Credibility is the absolute key.

Engagement. You have got to engage. You have to go on to the forums and start showing your face, talking about what you do, and encouraging others. Whatever it is that you do at the start, you have to engage. Join in a conversation in a forum. Be visible.

Profile picture. Your profile picture should be your face, not a picture of food or a horse. It doesn't show your character. Will it suggest about your character? Is this more to learn about your character? And you want to be up and transparent. Put your picture on your profile.

Contribute and add value. When you go on and join an existing conversation, you'll find the topic the topic that actually you got the experience of, that actually you've done, that actually you've lived through, that actually was a big problem for you and it took 12-18 months of your life to sort that out. Why don't you share... "Oh I had this in my life and I found that if you do x, y and z, it can make it a bit easier and can get you there quicker. But you know, it is a struggle I feel your pain. I wish you every success with this." You can do that. Whatever is it in your life that you think you can do, make sure that you do it.

Property groups and forums. There are a lot of Facebook groups out there that you can join. Try joining 3 to 6 groups. Just try to check the feel of the group, if you don't like it then leave. See if it is fit for you, if they are encouraging, etc. If you do this for the next 4 to 6 weeks, you can build up a hard core of maybe five or 6 supportive groups where you are recognized and are comfortable with.
Build your own content. Little microblogs are really helpful. It will build over time. if you do not know what to post, try telling your story, your journey. Start diarizing your journey. So, from day 1, take a picture and tell a story about it.

Video. This is the best way to reach more people. People with successful businesses use video. The reason they do it is that it gives you more reach and more engagement, which is what you need. Practice shooting a video with your Smartphone or iPhone. It doesn't have to be perfect, but it should be enough to be posted. Just practice. Practice makes perfect.

Interviews. Interview people who 2-3 steps ahead of you in the journey. Talk to somebody who has done a few deals. What's the secret? People will want to know that. It is a great way for you to get penetration into the market. It should be a Landscape video. You can invest in a tripod holder so the video won't move and it would be at eye level. Other content can be a reaction to the news. Newsjacking. There is so much news out there. There is always something in the news that people will want to know about that can you can create content.

Crowdsourcing. Get people's opinion. For instance, I picked a new logo for my business, what do you think? Should it be number 1, should it be number 2, should it be number 3? Colours? Go out and ask people what they think, and they will engage with you.

Poll survey. Start a poll. Set up a poll. I have a list of this and this, which is your favourite? So people can vote. It builds engagement. Use as many tools and mediums as possible.

BEST MOMENTS
"I don't need many people. You don't need many people to come and buy your deals."
"But marketing is the key. Facebook is the tool. You have got that facility now. If you haven't got a Facebook profile, set one up. You need to be on Facebook."
"Just start talking about your story, who you are. Property is a people business. Property is about people. So, you have to establish yourself as the go-to guy, the go-to girl in property to attract investors to your course."
"If you go out there and do it if you are going out there looking for a deal, you will find the deal. So, diarize your journeys with a photo."
"Everything is virtually free."

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.

CONTACT METHOD
David’s LinkedIn

David’s Facebook

#16 The Flip to Auction Win-Win Situation

Sun, 30 Sep 2018 23:00:00 -0000

In today’s episode, David discusses how you too, can be in a win-win situation, when buying houses at auction. Being very experienced in the property industry and in auction houses, David shares us his secrets to success and what you need to know before an auction?

Find out, what to look into when buying in an auction? And what do you do when you talk to an auctioneer? There are a lot of things to know to master the art of buying and selling at auction and in today’s episode, David shows you exactly what to do.

KEY TAKEAWAYS

Pre-auction. So you have a property. And you will want to sell it with an auction house. What do you need to do first? You have to think in the buyer’s perspective. Does your property have cracks? Is it worth checking? If you are a buyer, would you consider buying this property? How much does it cost if I buy this property? Is it neglected or a run-down? These are just examples of the things that you might want to consider before placing your house in an auction. What you want is to do a minimum amount of work with a maximum amount of profit in less time.
Getting in the side of the Auction House. The auction house will have a representative that will talk to you. The first meeting will be casual. However, if they see an opportunity to earn money, they will work with you. David discussed here how to say the right things to the auction house representative. Firstly, you should talk regarding value. But you have to listen more than you talk. Always remember that the auction house is an expert on these things. They have a lot of knowledge of the place, what works and what does not work. So you have to listen closely to their advice, and take it if it benefits both of you. It is very important for your relationship to move forward with the Auction house. Respect.
The Guide Price. This is the price that appears to be intended to give to the prospective purchaser of the property. It is a rough guide to what the property will sell for. However, the guide price has a very different purpose. The guide price is to generate interest in the lot, to generate interest in the lot. Guide price has to be low.
The Reserve Price. The reserve price is processed by the vendor. And this price below which they do not wish to sell the house. It is bidding. If it does not reach the reserve price, the Auction house will not sell the house. It is accepted that the reserve price should not be more than 10% higher than the guide price.
First 15 lots in the auction. Now, on building your relationship and credibility with the auction agent, you need to ask for their help. Why? You need to be in the right place in the auction catalogue. It is very important. Ideally, you need to be in the first 15 lots in the auction. Why? Because you need your property offered when the room is full and bouncing with property investors. It will make you more money. The auction house also knows that the busiest time of the auction is doing the first 30 lots. So their vote of confidence and they put you in the first 15 to 30 lots is what we need to confirm and expectations for the sale.
Buying the house before the auction. The auction house cannot put your house in the catalogue until you have exchanged contracts on the purchase. The exchange will proceed once you've exchanged. Then you can push on quickly. Not because then you have a legal interest in the property. You need to work with joint venture Finance if you have the money yourself. Find a joint venture partner who can help you. Find the bridger. Bridging company will take about 20% off the profit. So it might be cheaper for you to work with a good Bridger.
Monitor the viewing and downloading of the legal packs. What is a legal pack? It is the total disclosure of the condition of the house, total transparency. Be friends with the admin team at the auction house. Hope that they will talk to you about the viewing and downloads of the legal packs. It will tell you it is good news or bad news. It will allow you to decide whether or not you have to pull out your property from the auction.
The ability to withdraw from the auction. As given above, there will be times that you will need to withdraw your property from the auction. You have to have a term in the contract that you signed with regard to withdrawing your property in the auction. The terms and cost are stated in the contract. You will have to discuss that with the auction house representative before they print the contract. You will need to have a say in the cost of the deal because sometimes they charge too high. All you need is to tell them about it so they can consider the deal.

BEST MOMENTS
“Earn your margin but do not do any work and cut the time down to a tenth.”
“The thing is you have to leave a profit in the deal at the end.”
“Make sure you listen more than you speak.”
“I understand, Mr Auctioneer. You will have done some administrative work. You will have printed the catalogue and probably done some viewings. My property would be in the catalogue. You would have gone to my property but I can’t afford to pay you 2000 pound + VAT to pull my house out of the auction. I acknowledge you done some work. I think we need to amend that figure. In those circumstances, I'm happy to pay you 500 pound plus VAT at maximum. How do you feel? So if you try that, there’s a script for you.”

ABOUT THE HOST

CONTACT METHOD

#15 Buying at Auction

Sun, 23 Sep 2018 23:00:00 -0000

In today’s episode, David discusses buying property, sourcing property, and property auctions. Wouldn’t it be great to know all the pitfalls and problems that come with buying property at auctions? Most people will commit the classic school-boy errors. But how do we avoid them? How do we keep our investment safe? You definitely have to factor in a lot of things. But no worries, David discusses them all in today’s episode of the Property Sourcing Profits Podcast. Stay tuned.

KEY TAKEAWAYS

Pre-auction. Go online and register 2 or 3 weeks before an auction. Big auction houses publish their catalogue online. Download it and browse throughout. You have to be available during viewing dates. It is possible that there will be a lot of viewers of the property. Do not be intimidated. Not everyone will go to the auction hall. There will be only a few people bidding; they are your real competition.
Download the legal pack in the auction pack. Take a look at the legal pack. It will contain everything that you need to know about the legality of the property, the risk, threats, problems, etc. You may not fully digest everything in the legal pack. You should show it to a solicitor to make sure that you do not waste money. Showing it to a solicitor is an investment.
Preparation for the Sale. Now, you got to look at the numbers. The numbers are different depending on geography. Your target is 20% net profit. So if the property is 100,000 pounds, then there should be a 20,000 pounds net profit. Over time when you are buying a property to flip, then your highest bid can be no more than 60 pence in the pound of the final refurbished value of the property. If you pay any more than this, then usually your margin will be on the threat and the project may not give you a decent profit. Twenty per cent return can be quite demanding wherever you are based in the UK. High-value property in the Southeast of England, then you might be tempted to move away from the 60% to pence pound rule… Be very realistic and be careful with figures. You have to have figures for 3 possible outcomes.
Selling Prices. You have to have 3 different prices. Get on the day when you sell. It what dictates your profit. First outcome. If you buy at your figure, all the refurbishment runs the plan to the penny and then you sell at your projected selling price. That would be a perfect scenario. You would secure the maximum return on your project. This is the optimistic figures. On a different scenario, the second outcome, bad news, bad everything, rainy day, gloomy day, economic decline. This is the worst day. The third outcome, base your figures that are achievable, realistic and unsurprising. Find a number in the middle that you believe will be achieved, and then have a look to see if you have got your 20% margin. This is really important. You will soon get an idea as to whether the project will work. You have to do all 3 calculations. Never take a shortcut because you got to make sure that you got an overview of the numbers. This will keep you safe. That is the main objective here. Once you get the numbers that you need, you can work out what you bid. You will have a maximum figure. Do not exceed it. Do not be tempted. Ever. It is a poor practice. You have to be firm and disciplined. Never be emotional. Do not get suckered in. There is always another bid.
You will be introduced to the professional teams that are brought in by the auctioneer to assist prospective purchases in the room. Speak to the firms who come along to support the auction, to support the people who want to make a sale. They assist those who are not prepared. You are going to meet solicitors, local solicitors, mortgage brokers, property insurance specialist, local bridging companies (very active in auction purchases), and the local bridging firms (They have great experience. They know a lot of people. They know a lot of things. Many are family run operations. You should speak to them. Alliances can be formed.)
How do you bid? There is no right or wrong here. Sit at the back. Watch the beginning and then you will observe that the person or people bidding become thoughtful. That is the time to join in. Psychologically you are in the right place.

BEST MOMENTS

“When you attend an auction, never sit in the front row. Always, sit or stand at the back of the room.”

“Over time when you are buying a property to flip, then your highest bid can be no more than 60 pence in the pound of the final refurbished value of the property. If you pay any more than this, then usually your margin will be on the threat and the project may not give you a decent profit.”

“You have to be very careful and be realistic on the number of figures to make sure that the deal works. Do your calculation with respect to the figures with 3 possible outcomes with each scenario.”

ABOUT THE HOST

CONTACT METHOD

David’s LinkedIn

David’s Facebook

#14 Interview With Fraser Mcdonald

Sun, 16 Sep 2018 23:00:00 -0000

In today’s episode, your host David Siegler interviews experienced property investor and business owner Fraser Macdonald. As a Deal Packager, Fraser has sourced and sold over 400 deals for investors with a combined value of over £28 million. Fraser shares his experiences from over 20 years of professional property investing and explains how his deals have gone from £32,000 to £180,000,000.

Discover the secrets to becoming a successful property sourcer and how you too, can surround yourself with the right people in order to align your vision and values and ensure your own, property sourcing success.

KEY TAKEAWAYS

David: Tell us a little bit about your business Property Fit?

Fraser: Property Fit was my sourcing company, I set that up in 2004 and we have sourced about 400 houses, worth about £28 million pounds. Property Fit specialises in sourcing high yield property for clients and manages all aspects of the process.

David: What sought of scale are the deals you're doing now?

Fraser: We’ve just got planning permission in Manchester next to Victoria station for a £180 million GDV scheme, that’s 556 apartments. Previously we have done a £21 million, 350-bed scheme in Derby and at that point, we didn’t know we would be getting into student accommodation.

David: Do you have criteria for investors?

Fraser: It’s not retail funding we are after, we only deal with professional investors with a minimum of £100,000, but we offer good rates, typically between 10%-20% based on the security of the deal. We look to make sure our investors believe in what we’re doing and that they trust in the deal.

BEST MOMENTS

“I bought my first house in 1997 and I put my deposit down using my credit card, I started building my portfolio the traditional way and had a surplus of cash each month”

“Property Fit is the UK’s longest running property sourcing company”

“We want to build things where the exit strategy is there”

“People invest in you because they believe in you”

“If you want to get rich quick, mix with the people that have been there and they’ve got what you’ve got”

VALUABLE RESOURCES

Wealth Dynamics

Progressive Property Network

Property Investors Network

ABOUT THE HOST

CONTACT METHOD

David’s LinkedIn

David’s Facebook

ABOUT THE GUEST

Fraser Macdonald is an experienced property investor and business owner. He has been investing in property since 1998. In addition to managing his own property portfolio Fraser also owns and runs three property investment businesses, Property Fit Ltd, Active Letting London Ltd and Active Letting Birmingham Ltd. Fraser also has extensive development experience in projects across the UK.

#13 Interview with Co-founder of Aspire Properties, Dan Buchan

Sun, 09 Sep 2018 23:00:00 -0000

Coming to you live from the Book Writing Bootcamp in Mallorca, your host David Siegler interviews established speaker, trainer and mentor and Co-founder of Aspire Properties Dan Buchan. Dan and his business partner Jamie Yorke have packaged over 1000 deals and now also focus on, No Monday Down strategies with Progressive Property.

In today’s episode, David and Dan discuss how to attract the right investors, where to find them and why credibility is essential to seal the deal. Firstly, understand that you’re not dealing in property, you’re dealing in a vehicle to make people money and your credibility comes from serving them in the best way possible.

Finally, Dan explains why mindset is number one and that the ability to grow and the ability to raise finance lives on the boundary between challenge and support. Value yourself more and centralise yourself in one place, and let the investors come to you.

KEY TAKEAWAYS

David: How do you decide what interest rate to pay your investors?
Dan: The biggest mistake we made was overpaying and over offering in order to seal the investment. The issue we found is if you offer investors anything more than 10% it’s deemed to be very risky. We now prefer to offer interest-only investment as you can advertise it to the retailer and effectively pay less over time.
David: What is your typical investor and where do you find it?
Dan: Each investor or vendor we create an avatar for. They will have an income of over £200,000 per year and this will generally put them in the higher age bracket. The thing is the UK’s net wealth is £10.1 trillion and there are almost a million millionaires in the UK alone. That’s one in seventy people and you’re average Facebook user has 200 friends so when you look at the numbers there’s a huge amount of investors to attract. The key thing is putting yourself in front of those investors so put yourself in the place where your avatar will go. The most scalable model is connecting with people online and attending networking events.
David: Can you tell the listeners where to find investors and how to build credibility?
Dan: You have to market yourself, your product and how to can serve your investors. Marketing is essential a competition for people’s attention and you can market yourself to investors in three ways.

Online presence, build it up and reach people by constantly posting content.
Physical meetings, go to the places your investor (avatar) goes on a consistent basis to build relationships
Speak to everyone you know and create referrals. If you provide genuine value you should be telling everything you know and as a result, investors will come to you.

BEST MOMENTS

“There is a lot of money out there and property is a fantastic facilitator so be able to deliver value to people and serve your investors”

“You only need to attract two or three investors and then get referrals for life.”

“You’re much better off working with like-minded investors rather than banks, the interest rates might be higher but the hoops to jump through are much lower and easy to get through.”

“Your reason why is yours and yours only”

“Property is an asset class that increases in value in three separate ways; property Rent, capital growth and rent increases over time.”

“People will believe in you when you believe in yourself, know your numbers and know your product”

VALUABLE RESOURCES

Rich Dad, Poor Dad

The C.R.E.S.T Model - Credibility, return, exit, security and trust.

ABOUT THE HOST

CONTACT METHOD

David’s LinkedIn

David’s Facebook

ABOUT THE GUEST

Dan and Jamie are committed to their 70/20/10 strategy split which is split between 70% of their time on sourcing and selling BMV deals, 20% of their time on development deals, and finally 10% on simple flips.

Their ‘We Sell BMV’ brand is a market leader in the UK, sending out between 3 and 10 different deals every single week. As well as pure below market value deals, they’re branching out to offer properties suitable for a variety of different strategies, and Dan mentioned one particular deal in the interview which he’d sold the morning of the interview, which was a serviced accommodation deal making them £4,000.

On the development side of the business these are typically much larger deals where Dan and Jamie work with other investors/developers. They currently have one in Isleworth and another in Surrey, one of which is a development of new houses and the other is a commercial conversion.

Their final 10% spent doing flips is working with someone else who manages the work on deals that Dan & Jamie have sourced and funded. This is a relatively new strategy for them, but already they’re scaling it up and are confident of hitting their targets of completing one flip every month.

#12 Costing Your Refurbishment

Sun, 26 Aug 2018 23:00:00 -0000

Welcome to another episode of the Property Sourcing Profits podcast. In today’s episode, David responds to popular demand and brings you the skills and knowledge you’ll need to know when costing up your refurbishment.

Hear the tips, tricks and vital information, you need in order to serve your investors better. Learn how to simply calculate costs, compartmentalise a property room by room and be prepared when it comes to sourcing deals. If you are new to property sourcing and need to know how to work out the price of refurbishment costs, this episode is for you.

KEY TAKEAWAYS

‘Take a builder with you, get them to help cost up’ This is not a real-world solution as a deal packager you will be viewing 20-30 properties before securing a deal. You need to develop the skill in calculating the refurbishment costs for yourself and for your investor.
The more houses you view, the more experienced you will become, the key to this is patience and practice
Keep a viewing spreadsheet, this helps you to stay organised and understand what is required to bring the house up to a good, clean, safe and dry (lettable) standard.
All of your refurbishment costs will affect what you offer on the property. Be sure not to rush this process, take your time and get the numbers right. Always add in a contingency sum, usually about 10%.

BEST MOMENTS

“You will never get anywhere if you are too hasty”

“The deal your packaging doesn't need to be completed to the standard of a Serviced Accommodation”

“Practice carrying out inspections on your friends and families houses, as a result, you will be so much better prepared when it comes to going out and sourcing deals.”

“Consider how much each job will cost and contact local tradesman to do the job, these will be cheaper than national firms”

VALUABLE RESOURCES

Create a viewing spreadsheet

Snapinspect - Free 30 day trial

ABOUT THE HOST

CONTACT METHOD

David’s LinkedIn

David’s Facebook

#11 Losing Control

Sun, 19 Aug 2018 23:00:00 -0000

Welcome to another episode of the Property Sourcing Profits podcast. In today’s episode, David leverages a live stream to bring you some essential information on ‘Losing Control’

Understand that as deal packagers we can be fragile when things break down when deals don’t materialise. You have to close your deals in advance and avoid them dropping out or falling through. Don’t get demoralised, you need to take control. Invest time with your investors and show them your commitment.

David urges you to serve your investors well, and give great value. You need to learn the investor's criteria, their commitment, what they’re looking for and what financial return they’re interested in. Only then can you properly get out there and start sourcing deals.

KEY TAKEAWAYS

Consider taking a reservation fee and always make sure you’ve got proof of funds from your investor. If you’re working with estate agents this is vital.
Make sure you have a backup buyer and always work with roughly 10 investors
Investors are looking for a return on their money. Crunch down the numbers and find out what the net return on the capital employed will be, if it is around 12% you know you are competing with the high street banks.

BEST MOMENTS

“Invested the time in getting to know the investor”

“Inflation is eating away at your investor's money. You have the opportunity to help them to secure their money in a bricks and mortar purchase”

“You need to know the value in marketing, you have to be out there getting new investors and building relationships”

VALUABLE RESOURCES

ABOUT THE HOST

CONTACT METHOD

David’s LinkedIn

David’s Facebook

#010 - What Are the Biggest Mistakes that New Deal Packagers Make

Sun, 12 Aug 2018 23:00:00 -0000

Welcome to another episode of the Property Sourcing Profits podcast. In today’s episode, your host David dives into the biggest mistakes new deal packagers make. Get inspired and listen to David's tips to success, learn how to become a professional property sourcer and discover the mistakes to avoid in order to start, grow and scale your property business.

David urges you not to give up and to keep on viewing properties to secure that deal that will get you started. As you gain experience and a knowledge of your goldmine area your conversions to securing deals will increase.

Finally, David explains the essential need for marketing in your sourcing business. Learn how to focus on what you can offer to increase investors wealth and how you too, can start to build your brand, spark engagement and attract JV partners by leveraging social media and building your credibility.

KEY TAKEAWAYS

People Give Up

Don't give up too easily, persevere and increase your viewings to find the right deal.
Normally you will secure a deal on average every 30 viewings, so get out there and see some houses. As you gain experience and a knowledge of your goldmine area your conversions to securing deals will increase.

Marketing

Traditional marketing still works. Face to face marketing is essential. Live by the3-foott rule and tell anyone within 3ft of you what you do. Utalise this at property meetings and networking events to practice your elevator pitch and perfect your delivery.
Create a business page and leverage social media with content marketing. Run Facebook ads and boost your posts to increase the reach of your message to those that are interested.
Tell your story, tell people what you do. Your message becomes your brand and investors will want to work with you because of your vision and values
Be consistent and post everyday, diarise your journey from day one. There’s nothing more compelling.

Over Complications

Don’t over complicate things in your business, keep it simple and trust the process.
Ensure you keep a routine and regulatory network with a simple and effective business card.
Property sourcing is a regulated industry, but have no fear it’s easy to set up a business and even easier to run. You just have to get out there and do it.

BEST MOMENTS

“Your purpose is to increase the wealth of your investors”

“Property network meetings is where I found my business”

“Video is the number one way people will engage with you”

“Networking IS Marketing”

VALUABLE RESOURCES

68100 - Buying, holding and trading property SIC code

68310 - Estate agent SIC code

ABOUT THE HOST

CONTACT METHOD

David’s LinkedIn

David’s Facebook

#09 - Key to Sourcing Properties from Estate Agents

Sun, 05 Aug 2018 23:00:00 -0000

If I see something in an estate agency and I think it’s gonna enhance my investor’s life, how do I secure it? How do I get it off the market? How do I make it work?

Estate agents are a big piece in the industry. So, today, David will share with you how he does it. He touches on topics like finding the money first, securing an investors list, why having a coffee with your prospects is better than scouting online, and many more!

Be sure to tune in to be more confident when you're facing your investors and estate agents!

KEY TAKEAWAYS

You have to have your exit in place before you go into the estate agent’s office. You have to know what you’re looking for. You have to have an investor in place before you go shopping. You don’t wanna be viewed as a time-waster.

Tell the estate agents who you are and who you work for. This is to situate where everyone stands. The estate agent will immediately know that you’re professional and I can forward anytime. I can easily put an offer down if I already 6-10 cash-rich investors.

Find your investors first. You need deals and you need people to buy your deal. Have 1 or two investors behind you so you can talk to your estate agent confidently.

How do you know what you’re looking for? During your conversation with your investor, you’ll know what they want, their finance, their strategy, etc. Have a detailed conversation with the investor so when you go to your agent, you know what property you’ll be looking for.

Get the vendor’s solicitor to send an email my vendor’s solicitor to confirm they’ve been given instructions. This is as far as you gonna get in four days and at least you know the process is now ongoing. This is really important.

“If feeling brave, instead of sending the contract in my name to my solicitor, send it to my friend’s name to their solicitor.” In order to do that, obviously, proof of funds for the investor should be provided.

The most important thing is to find the money or the investor before going shopping for the property. That makes life so much easier than doing it the other way around.

How do you build your investor list?

Going to property network meetings. Do it face to face. Look for the investor with the money. Everyone you meet will look for the money. It can be hard but see it as a blessing.
Get 10-15 business cards from people who are properly qualified. Ask them: Are they investing? What do they want?

What do you mean by properly qualified? You have the expressed permission to contact them and have a chat with them.

Phone them. Arrange a meeting. Follow-up. Talk to them about a property. If you have 10 cards per network meeting, then you have 80 cards at the end of the month. Around 25% will meet with you. 4-5 of those will want to work with you.

Don’t spend 100 hours online looking for deals, go have 100 cups of coffee with your future investors. This will pay you back more. Go out there and find your investor.

BEST MOMENTS

“Estate agents are a massive piece in the industry and we have to deal with them.”
“If the deal is good enough, the money will follow.”
“Confidence is important. Get rid of the fear. Move forward with confidence.”

ABOUT THE HOST

CONTACT METHOD

#08 - When is an Investor an Investor?

Sun, 29 Jul 2018 23:00:00 -0000

Finding your investor is quite critical. Investors showing interest is just the tip of it. There are things you have to assure in order for you to make money and not waste time when dealing with investors.

On today’s episode, David shares with us an experience of one of his friends, Karen, on how she found investors and built their relationships with them. You’ll also learn how to value yourself and your business, and how to be reasonable in pricing. There are a lot of stuff you’ll learn from her experience and David’s tips so time to tune in to this episode!

KEY TAKEAWAYS

Meet your investor face-to-face. If you have investors who’s seen you as a competent, intelligent, and committed person, they will come to you. They want to see how to run your business.

No one is going to engage into your services unless you build a personal rapport. That is meeting them face to face. If you have travel around the world, do it.

We have to explain to the investor that this is our business, this is our livelihood, this is where we earn income and this is serious. If they wanna go to the next step, you have to acknowledge that you’re the go-to guy. There should be trust in your working relationship.

Potential investors are sometimes wasting your time. Don’t send a specific postcode to an investor unless you’re formally engaging. It doesn’t have to be on paper. It could be done through handshakes.

Talk about fees. If it’s a real investor serious about working with you, they are not gonna have an issue with you raising your fees. They should understand the time commitment and the relationships you build.

Can you provide a hands-free service? You’re gonna need contractors. You’re gonna need everything you to run a property portfolio remotely.

You need a commitment fee. Don’t send a postcode unless they paid a commitment fee.

Discuss the criteria – financial criteria, goals, exit game, etc. Know what they need from you. Are they aiming to get higher returns that you could get?

Every investment has cash flow. The average deal fee for 2018 is around £5000. You could get £1500 commitment and get the balance during the conclusion legal.

Ask them what you need in order to provide your professional service. Necessities like ID, proof address, proof of funds should be asked.

Never charge less than £3000 for any deal anywhere in the UK. If you think £3000 is too little for you, then go for what you think is reasonable.

70% of investors buy properties with a mortgage. There’s nothing wrong with that. Ask your investor if he’s interested in that.

BEST MOMENTS

“She values herself higher than the figures we’ve been talking about.”
“This stuff works. You just got to be brave enough… maybe we don’t ask difficult questions enough in life. In deal packaging, when you’re just starting out, you haven’t got self-belief and confidence, you’re feeling a bit fear, nervousness, you tend to undervalue what you bring to the table, what you really really need to do is value yourself.”
“Investors are different; people are different. We respond differently in different situations.”

VALUABLE RESOURCES

Progressive Property

ABOUT THE HOST

CONTACT METHOD

#07 - 3 Ways to Finally Get Started in Deal Packaging

Sun, 22 Jul 2018 23:00:00 -0000

Why don’t you start now? You’ve invested time and effort in training and building your knowledge but haven’t moved the littlest to start your journey.

On today’s episode, David shares with us why people are still procrastinating, what’s stopping them, and why are they still not doing the first step. There are three things to work on to help you get on your feet: having clarity & commitment and dealing with fear. Just by observing the people around him, David quickly deciphered what separates the people that do and the people that don’t which he’ll share on this episode. He also shares stories of people who decided to just get started and are now successful in their journey.

KEY TAKEAWAYS

There are people that don’t do and there are people that do. What’s the common denominator? There are three things that make the difference:

If you’re gonna be successful at deal packaging or any other property strategy, clarity is the absolute key. Focus on clarity from Day 1. People that embrace it, roll with and are totally committed to deal packaging are the ones that succeed. Build your knowledge. Know what the strategies are and how they work.

Generating cash flow. Deal packaging is the fastest way to do that. People just need to follow what they listen to on the training they attend to
Deal packaging is not hard. The decision to stick to your strategy and you do everything to go over the line.

Dive into it. Time is limited so learn to manage it. They will get deals and do deals over the line.
Deal with the Fear. The fear of crossing the threshold – talking to an estate agent. We see them as the ultimate scary property professionals and are far more experienced but just think that they are people just like you and me. Don’t be intimidated.

Here are some insightful examples:

Alex and Nathan from London trained under Progressive did exactly what they were told, and have lived it now. They talked to estate agents and found deals that stack. I know that they will sell because the deal is stack in a sense that they will increase the wealth of the investors. Alex and Nathan are just three weeks in their deal packaging career and got deals that will generate them £25,000. The thing is they don’t have fear.
In the South Coast of Wales, Sean is doing his seven-week journey in deal packaging. Increasing investor’s wealth is what he’s doing. He has now got three deals coming through and now all subject to legal. His got investors coming to him on his own.
Karen from Sheffield found her own investors. She has great relationships with local estate agents. All of the deals come from estate agents. She’s got three deals going through right now.

You can’t tell me training don’t work. What’s common for all of them is they’ve thrown themselves into this. They’ve got clarity of purpose. They know exactly what they’re trying to do. They’re not running around with two or three shiny penny strategies in their head. They are all into this because they’re committed to earning money.

If you’re starting out from scratch, you probably gonna do 30 viewings per deal. You’ll never be sure if a deal is gonna come. You might reach 58 viewing and still not get it but will be able to get a success on your next two deals if you continue.

Spend time referencing where you gonna do viewings online before you do it. This is to screen stuff out that will not work.

BEST MOMENTS

“Why don’t you just go out there and start doing it?”
“Just going in and doing what we’re supposed to do, what we’ve been taught to and what we’ve learned, that’s key to your success.”
“The key principle that runs through everything is we are increasing investor’s wealth.”

VALUABLE RESOURCES

Progressive Property

ABOUT THE HOST

CONTACT METHOD

#02 - Earn Money Selling Deals That You Don't Want to Buy For Yourself!

Wed, 20 Jun 2018 23:00:00 -0000

In this episode, David Siegler shares why Deal Packaging is one of the fastest, most lucrative and hands-free property strategies around today, regardless of your credit rating and funds.

KEY TAKEAWAYS

If you are going to Package Deals, make sure you do the job properly and professionally, serving your investor. That way you will get repeat business and recommendations from them, allowing you to build up your portfolio.

Deal packaging is one of the fastest ways of generating cashflow in England. This strategy is fast and virtually free! You find the property, satisfy the investors' requests, then you take your payment and leave.

If you are stressing that you don’t have the funds, don’t worry, Deal Packaging is the strategy for you. You don’t need deposits, the investors do. You don’t do mortgages, application forms or any credit checks. Deal packaging could replace your daily and ordinary job, or just bring in income that you can save and leave in the bank until is enough to put deposits down, in order to build your own portfolio.

Deal packaging gives you the opportunity to earn money from property even if you are not buying properties yourself. Buy as many properties as you can and don’t just view them. Buy them and make sure they are right for your investor.

Building your credibility with the estate agents is a very simple thing to do. Explain to them what you are doing, that you are working with investors to build your portfolio and you would like to work long-term with them as well. Prove you will buy one house per month from them, show them you have investors and you are looking to build a long term business relationship and they will offer you special treatment, putting you at the top of their investor list.

Are you a Deal Sourcer? Personally, I don’t identify myself as that these days, I think it has a bit of a negative connotation these days. Deal Sourcers are recognised as people that don’t really provide you with deals. All the properties they sell are identified coincidentally as BMV (Below Market Value) but in reality they are not. They might not be in areas in which you would want to rent a property. You will find repairs to do, have long void periods, all which will bring the cost of the house higher than you will expect.

Consider the area where you buy! A socially challenging area will compromise the value of the property.

BMV (Below Market value) We all want a discount on the market = BM. V=Value. If a house is below market value and sells at a price below market value, next time the landlord registers that street, the figures update and it says the new market value. You could have two identical houses on a street, only one has a shabby interior. One may sell for £70k, the other may sell for £50k. The one for £5k may need £20k worth of work on it, so the actual market value for that street would be £70k.

Deal Sourcers often don’t view the properties they buy for their investors. How can you value a house when you don’t go and view it? They rely on the vendor’s opinion on how the house looks of if it needs any repairs, etc. which I don’t personally believe is serving your investor. I always visit my properties before I buy them.

BEST MOMENTS

Another reason why I love deal packaging is because there are no tenants to deal with. It’s all the investors responsibility to deal with them. You source the property, help the investor tenant the property, take the money and move on to the next one.

These days, referral/recommendations are the most effective way to get new business leads.

Never depend on the vendors’ opinion regarding properties, or even the estate agents. You have to go and look at your property for yourself.

Just to make it absolutely clear, I can see a distinction between deal sourcing and deal packaging. Deal packaging is more of a rounded service.

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. He's very active in this business at this time. 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.

CONTACTS

#05 - 11 Places to Find Deals to Offer to Your Investors

Wed, 20 Jun 2018 23:00:00 -0000

Learn what to look for, where to visit, who to speak to and what techniques to use in order to hunt out the lowest and most profitable deals for you and your business partners.

KEY TAKEAWAYS

Estate agents and letting agents. Estate agents are a wonderful resource. You have to use them somewhere along the line to find your deals. It's all about the relationship you build with them. Most importantly, be completely transparent.

Script for entering letting agents: "I am acting for investors who want to buy in this area, this is what they're looking for."

Look for Victorian terraced properties. You can convert into HMOs. This will maximise rent roll and return.

Source houses near hospitals. They're big employers. Areas of regeneration, near motorways. Anywhere we can guarantee a high occupancy.

Only work with cash-rich, highly qualified investors who want to buy for cash and then re-mortgage after the event. This is what I say: "I work with a group of highly qualified, cash rich investors who specifically want to invest in this area. I, or one of my friends are going to buy one of these houses."

Be aware of the type of estate agents you are visiting. If it's a one-man band, owner/drive, that's a really good thing. If it's a really bigger office, maybe they've got half a dozen regional offices, that's great too. If you go to one of the nationals, in one of their national offices, that's a really good thing. All slightly different, all great!

Inspect the leader board within the national offices. If they're at the bottom, they're more likely to offer you everything. They'll fall over themselves to do a deal with you. The cool kids at the top just want to kick sand in the face of everyone else below them in the league, so you'll receive a similar response from them.

Agents have a database of landlords, they may not necessarily want to sell, they may be looking to rent. In every agents' office, there's a hard-core of landlords wanting to get out of the business. The agents know who they are.

If you find a landlord on a downward spiral, looking to exit the business, you can source some great deals for your client investors. Get to know the agents and they'll link you.

Where to find your deals? Direct Mail.

It works and we love it. You've got to do it right and you've got to do it smart. Who are you going to write to and who are you going to target?

Individual vendors. You can research these yourself or outsource and leverage the task. Find them through the EPC in the estate agents' listing. Have a look through the online portals. You can find addresses, broadband speeds, Google Maps.

Zoopla. They have a choice of tabs at the top. Zoopla has a most reduced tab, the others don't. You can find all the analytics here. Once you've found the relevant information, move to Rightmove Sold, this is the only portal which includes every part of the property's address. This is how you find addresses for your Direct Mail campaign.

B2B (Business to Business) Letters. Property investors who may want to sell to other property investors. E.g. Landlords with HMOs, you can find a list of them through your local authorities. Some councils will just hand you a printed list, some will give you a few lists. Some are free.

If you see a For Sale sign on a door of a prospective deal, knock on the door! You need to hustle, it's vital.

Referrals/Recommendations. You don't often get a recommendation from one vendor to another about selling or buying a house. It does happen occasionally and when it does, it's really powerful. It's gold dust, cherish it! Develop your relationships.
Social Media. Set up a business page. It's genius, the way the ads can zone in and you can become very bespoke with this. It's very granular. If people have been looking at properties online recently, they'll get targeted with your adverts. It's a very effective way to build your profile.
Networking Events. Business, Property, there are many. Look out for tired landlords who want to sell. Often, if you do well for the landlord, they'll have a few more properties around the corner for you to package too. Tell everyone within 3 foot what you do.
Newspaper Adverts. Don't do it straight away as it can be expensive. Don't pay the rate card rates! There are enough small adverts in the papers to prove that it works. Use them as part of a bigger strategy.
Leaflets. Distribute them yourself! I target no more than 600-700 houses. Hit them every month. These houses are within 200 yards of a hospital. That way I know there will always be NHS workers looking to rent. Consistency is paramount.
Contractors. A lot of small contractors work with local letting agents. They know the unhappy landlords because they identify the properties which are neglected, have voids and attract the wrong tenants.
Bandit Boards. A little bit controversial. They're massive in the States and I think they're going to make a comeback. Check on the local policies on bandit boards from your local authorities.
Sign-Written Cars. There's an example of a Deal Packager sitting in a sign-written car when he gets a tap on the window. Long story short, there's now a £1million+ Joint Venture partnership.

VALUABLE RESOURCES

Rightmove

Zoopla

ABOUT THE HOST

CONTACTS

#03 - The Money is in the Follow Up! David’s Best practises for Finding & Securing Investment

Wed, 20 Jun 2018 23:00:00 -0000

Investors – David shares where you can find them, where you can work with them and how you can make sure that they want to continue working with you.

KEY TAKEAWAYS

In deal packaging you need money and deals to build your business. If you are new to this industry, look for the money first, look for an investor and afterwards you will be able to get the deals.

Attend the property network events to build your network database. You have to attend those events and keep on going, become a regular in the community and get yourself known.

Get close to your network meeting host. He has everything you need, he knows everyone in that room and who could potentially be your future investor. Working in the events team of your community, above the ordinary delegate, will raise your profile.

Stand up, speak, tell people what you do and be heard. You need to do this in order for the investor to notice you and be interested in your business proposal. If they come and talk to you, make sure you are always ready and you have an elevator pitch prepared. I usually say, “Hi, I’m David Siegler, I work in property and what I do is increase the wealth of my investors."

The money is the follow up! If you find someone who seems interested in what you do and how you do it, meet up with them and talk about your business.

Arrange to meet as many times as it takes, just follow up! Just tell them it was very interesting talking to them and ask them if they don’t mind, you could give them a call this week to meet for a cup of coffee?

If they say yes, you have to give them a ring! Don’t forget to remind them about you and ask them when it would be better for them to meet, give them different options, they might be quite busy. When you meet up, explore with your investor what common ground you have to build a portfolio together.

When you stand up and make yourself heard in the meetings network make sure you won’t say what everyone else says, stand out from the crowd and be memorable. Make yourself different from anyone else in the room.

Once you have got your first investors, it is very important you take care of them. Serve them properly because they will be your reference for your future investors.

Another amazing source of investors is online networking. You could advertise your business, explain what you do and show picture of you being productive. You could edit your video and upload it on Facebook, telling people in no more then 90 seconds, everything about your property business.

LinkedIn is the other amazing source of investors, like Facebook, just that this platform is designed with a professional purpose.

BEST MOMENTS

When I first started out, I found out everything by myself. It wasn’t as easy as it is today, we didn’t have the availability of the knowledge there is today.

A tip I have learnt from Rob Moore, cofounder of Progressive Property, is that to build a portfolio, you need get yourself a folio. By folio he meant a really smart presenter and inside it there are clear plastic wallets in which you can present your own deals concluded. That will help you prove your credibility with the investors.

At one network event I stood up and said: "I bought a pub, it's very, very ugly. I don’t know why I did it, it cost me £80k. On the other hand, I have spoken to the planners and they said I could convert it in ten beds HMOs, but that is going to cost another £80k. The good news is that the pre-evaluation is roundabout £400k. If anyone is interested, please, do approach me during the break. "One man came and bought the deal as a result of that conversation, for a £15k Deal Packaging fee.

Don’t only sell deals to your investor, identify your clients' needs and what worries them and find a solution to their pain. It will get you friends, not only investors. If you produce those solutions for your investor, you will have a large amount of business because they will refer you to their friends, seeing your good performance.

Ask for recommendations/referrals! You could say: “Thank you very much for spending this time with me, now that you understand what I do, is there anyone that you consider might benefit having a cup of coffee with me and talk it through?"

VALUABLE RESOURCES

ABOUT THE HOST

CONTACTS

Rob’s Facebook
Rob’s Instagram

Rob’s LinkedIn

#06 - Deal Packaging in London & the South-East, does it Really Work?

Wed, 20 Jun 2018 23:00:00 -0000

If you’re just starting out, if you are building your property business today, if you Package Deals today, if you want to source and sell deals today, don't think to go up North, go to London! In and around London, in and around airports, that's where you need to be.

KEY TAKEAWAYS

“David, Deal Packaging does it really work? Can I package deals in the South-East of England? Can I package deals in and around London? I don't think it works, I can't make the arithmetic work, I don't think it’s going to happen for me."

I just want to say to everybody, that London is the best place for Deal Packaging today. If I was starting up today, I would go to London and earn my fortune in London.

Everyone knows that my business concentrates in Manchester and I regret it badly. It was a massive mistake, it has cost me, without exaggerations, millions of pounds.

Why would you set in London, Dave? What is it so special? As some of you know, when I started property, finance was very easy, you could set it up on the phone, so I went Manchester and started buying properties. I was buying them like Kit Kats, just for fun.

It was an error. I should have gone to London and here is why. The value of the houses went down; we are now just about back where we were when the crash happened. Pre-crash values, 2007 values.

If I would have gone to London, in 2004 and invested £1.000,000,000 in 4 properties, something that you could do in 2004 in London, but not today, imagine where would I have been now? It would cost me millions of pounds to do what I have done, in London today.

Lots of investors only want to buy deals in and around London. They are not concerned about rent role, they are not concerned about the yield, they are not concerned about the return on capital employed today, they are not concerned about the conditions of the building, they don't mind if it's a bit run down, but they do mind the postcodes. The reason they want that is because, at the moment, there is a pause in the London market, but in twenty years the good prices will be in London.

The South-East would be at the top of my list of places to go. There you can still get three beds, generous size, ex council, terraced property, in a decent area for less then £250k.

You can get up to £3k a month, if you have Serviced Accommodation guests in your property.

There is so much more to do in London and those areas, so many more strategies. There is not shortage of money in London.

Invest your money in London! London going forward, once again it's going to lead the country in property prices when everything takes off again!

Over time, Property prices go up! Properties in South of England grow more than properties in the North.

Your investors need to invest in London. The returns they will get over time are going to beat anywhere else.

On the investor side, get along to the property network meeting. There are dozens of them now, all in London. Build your profile, pick your favourite ones.

Go and see agents. Put a serious proposition to them and they will listen to you. Find the money, go to auctions, everything you need is in those auctions houses. Don't buy the property, meet the people.

Go to the South of the river to invest your money. I am really excited of the opportunities in South-East of London.

Once you get a foot on the leather, you can move more central. Buy something a bit more trophy, that you will be proud to own.

By investing in the right place, in five, ten years’ time your financial situation will be completely transformed.

BEST MOMENTS

There are so many opportunities in and around London. Do not hesitate, if you need to start your property business today, do it there.

It doesn't need to be the centre of London, it can be around London, target the airports. Package deals to serve airports on a Serviced Accommodation basis. You don't have to bash any walls out, you don't have to do Multi-Lets, just Serviced Accommodation for people that work at the airport, i.e. Harlow, for London Stansted.

Start investing in London!

VALUABLE RESOURCES

Rightmove

Zoopla

ABOUT THE HOST

CONTACTS

#01 - 3 Vital Ingredients For Your Deal Packaging Success

Wed, 20 Jun 2018 23:00:00 -0000

David Siegler explains what just what exactly Deal Packaging is and how it can generate cashflow, build your property portfolio and create your legacy! He gives an impression of the power of this property strategy, how it overarches every other strategy and how you can find your own niche.

Having packaged more than 250 deals himself, he's is hoping to impart some of that knowledge and advice to help you with you advance your careers and enterprises.

KEY TAKEAWAYS

I source deals and sell them to investors. I started my activity by accident in 2004. I didn’t even know what a deal packager was or did!

My business concentrates mainly around Manchester, even if at first I was quite reluctant because it was North and I am not from around there... My business partner convinced me, showing me all the deals available on the market and told me he bought a series of houses for around £35,000 and there were lots more to see. That’s how we started buying lots of houses in Manchester, the finance was very easy those days, you could arrange it on the phone! The mortgages requested a low deposit too.

If you are an investor, you are well aware that after investing continuously, eventually, you run out of money. You try and recycle but you also have to leave a little bit in and eventually all those little bits suck up all of your capital.

The real trouble is, in this industry, you can’t take a break. You can’t tell your deals to wait because you'll slip from the first on the telephone list to the last.

That’s when we started selling our properties in very good deals! We didn’t know we were doing Deal Packaging at first. We created a very good network, we started from our friends, my dentist and everyone we could meet. We went to a lot of Property Network meetings.

If you're selling in the North of England, then you'll need to focus on cashflow. Capital growth isn't promised in the North of England. Equally in the south of England there's ample opportunity to make your investors and clients really wealthy. Over time, capital values increase.

My Deal Packaging business became the cashflow that supported my life. It was fast and free and I can show you how to do it.

To be a deal packager there are 3 vital ingredients you need to make your business work.

You need a deal. What is a deal? How do you quantify one? A house with no potential is just a house on sale. It has to somehow increase the wealth of the person buying the house. To find out how the house will make the investor wealthy is to find out what they need, what they are looking for and what they are trying to achieve. I go out and try to fulfil their request.
You need an investor. The person that buys the house will be your investor. There are so many types of them, so I will show you how to identify them. Every investor needs cashflow, high yielding investments, maybe they've got a chunk of money on the high street and they're getting a small return on investment, perhaps they're concerned about inflation.
Make sure you will get paid. A deal packager needs to have an expanded knowledge of the strategies, areas, the best class to have as tenants, security fire procedures, the legal room measurements, insurances and so on, to be able to satisfy his client.

A deal packager needs to know just enough about every other strategy to make it work for his client. Every other property strategy is related to deal packaging. For a low return you could try single lets, for a higher return you could consider multi-lets (HMOs) or earn multi-let returns through Serviced Accommodation in single lets, avoiding bashing down walls or without significant structure changes.

With Serviced Accommodation, will the property work where it's situated? What are the planning issues, lending criteria, insurance issues, how are you going to service it?

BEST MOMENTS

There is a strategy to use, everywhere you are. Doesn’t matter, North or South. You just need to be a connoisseur!

In the early days in Manchester, we liaised mainly with estate agents, who still have 90% of the property market according to Rightmove. Build your relationship with the estate agents. Learn to spot the key players within the estate agents' offices. It's absolutely free!

Deal Packaging is just arithmetic. that's all it is!

Match the figures requested by your investor!

If you are a deal packager, you have to know all the top line rules and regulations to make the best use of the investor’s money taking in consideration the income they are looking for.

Another fantastic strategy is the commercial conversion. Commercial deals you convert into fantastic residential buildings to make big profits.

VALUABLE RESOURCES

ABOUT THE HOST

CONTACTS

#04 - 9 Killer Property Sourcing Strategies

Wed, 20 Jun 2018 23:00:00 -0000

An in-depth look at these Deal Packaging strategies. Discover what they are and how to use them to generate a high cashflow.

KEY TAKEAWAYS

UNQUALIFIED LEADS

Unqualified leads, I need to make this very clear, are not leads and not deals. These leads are in response to your marketing. If you know someone is selling a deal, but you don't have a contact yet or a proper way to get in touch with the vendor, you will still be able to find your investor out there.

There are investors that buy these deals from unqualified leads. They will qualify them themselves and they will then try to push through and get a deal.

Make it clear when you advertise what you are selling, that they are just leads, not deals. Sell them in bulk and maybe charge £5 to £15 per lead. People buy those leads and qualify them themselves.

QUALIFIED LEADS

Finding leads is qualified leads. It is one step further; you actually do a bit more work. You have actually contacted the prospective vendor, but never got a deal out of him and decide to sell further the lead. You can charge maybe £15 per lead because it is more qualified.

FINDERS FEE

Respond to an unqualified lead, qualify the lead, retain it yourself and the vendor doesn’t go missing. Arrange a meeting with the vendor and go and see the house before buying. You cannot find a sweet deal without going to see the house. Find out the conditions of the house.

This is where the money ramps and it gets more interesting! You get a much better return for the effort that you make. It doesn't need to be you that goes and inspects all the properties, friends in the industry could do it for you and take picture of the deals.

Deal Packaging is not about the properties, it's more about the people that own the house, working with the vendor and easing their pain! When you're healing people's problems, satisfying the investor and making profit for yourself, you are moving everybody forward.

PRE-PACKAGED DEALS

Not only you do find the house but you need to access your power team to fulfil the project. Let me explain what I mean by that. Buy properties that are in poor conditions and need working. Improve the conditions of the house by repairing and cleaning professionally the ins and outs. This will add extra value to the property and you will be able to make a good profit on it.

RENT TO RENT, LEASE OPTIONS

There are two categories there, but one kind of grows from the other. There are a lot of people out there who buy Rent to Rent deals for Single Sets or Multiple Lets. Rent to Rent means renting the property from the landlord with the purpose to rent it out yourself, and you have the option to buy the house later on in order to build your own legacy.

Not ready to buy now? Not a problem, get a profit from that rent every month, maybe convert it into Multi-Lets and double the income. In not long you will have a deposit to buy that house.

06. FLIPS

Flips are great! I really enjoy doing flips. It's buying a property, adding value and sale it for a profit.

Buy, Refurbish & Sell! I prefer to Buy and sell, I don't like to refurbish, lose time and money. Buy and flip, making profit.

ASSISTED SALES

You have to use an assisted sale contract. Some properties cannot sell, not because of structural problems, but because they are very dated, too run down to bring them up to standard. We do a deal with the vendor, in which we decide the value of the house before any changes or value added on by us. That is what we owe the vendor.

The vendor owns the house, we put an assisted sale contract in place. It is very important to write a legal framework for this to protect your situation. Repair the house, add value and sell it for a higher amount than you have bought it for, because you improved the quality of the property.

PORTFOLIO BUILDING

What is portfolio building? I will tell you what I think portfolio building is. It is putting together a number of properties for one investor.

Very rarely you will meet an investor that buys just one deal. If you keep your word and do what you've promised to do, serving them properly and satisfying their requests, they will buy again and again.

It is very very important that you don't just hit and run, which is why you have to go and view the properties that you place with the investor. You have to do your do due diligence. You have to know that you offer great value and then the investor will work with you again and again and again.

BUY IT YOURSELF

First time I have heard that, I thought that it isn’t a Deal Packaging strategy! However, I have done a complete U turn on this, now I believe that buying yourself as Deal Packagers is completely a Deal Packaging strategy.

We all came into property business to build our own legacy, our own portfolio. Deal Packaging is a great cashflow strategy, it also means that we source a lot of deals. Sometimes, when I am sourcing properties, the figures are so compelling, the figures are so attractive, that I have to act and buy it myself and put it in my own portfolio.

BEST MOMENTS

Finders Fees are one of my favourite sweet spot. This is where I can earn a decent fee for a minimum amount of work.

Flips are very very powerful! Once I bought a house in a very poor condition, very old. I have invested £45,250k in that property and without any work inside or outside, I have flipped the house for £65,250. We made £20k profit without doing any work.

Assisted Sale is one strategy you should pursue, especially in London where it is full of semi-detached houses. Tired, old, Victorian houses that you could buy for a very cheap deal. It is a really cost effective way of moving your property business forward.

You have to source Assisted Sales.

Portfolio Building is really, really important! It it a great source of new business for you, working with your existing investors clients.

VALUABLE RESOURCES

Rent to Rent

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