Business
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 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/