Business
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 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/