Business
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 Property Sourcing Profits Podcast https://www.progressiveproperty.co.uk/ https://unlimited-success.co.uk/ https://www.facebook.com/groups/progressivepropertycommunity/ ABOUT THE HOST David is a property expert with over 25 years’ experience and his own portfolio of 26 units. His current rent roll is in excess of £10k per month. He is also a partner in a Deal Sourcing and Packaging business in the North West of England and has sourced over 250 properties for investors since 2004. In recent years he has, by necessity, had to develop an expertise in LHA strategies. This area is increasingly becoming a niche for him, and he enjoys empowering other landlords by sharing the knowledge he has gained. The ultimate purpose when sourcing properties in this sector for investors is to minimise risk while maximising profit. He has had to find answers to the challenges of Tenant Find, Management, ensuring rents are paid and the transition to Universal Credit. These are strategies he uses in his own business and also on behalf of investors. His investor clients regularly achieve annual gross yields of over 20% with high occupancy rates and voids resolved, sometimes within hours. CONTACT METHOD https://www.linkedin.com/in/david-siegler-7b126316/ https://www.facebook.com/DavidSieglerInvestments/ See omnystudio.com/listener for privacy information.