Property Sourcing Profits Podcast Progressive Channel

The majority of people are good and honest but as a landlord, you are likely to come across some people who are not and in this episode, David takes us through the court proceedings he has recently been through with a tenant.

He shares great content on how the process works and the paperwork the landlord needs to have in place. In the proceedings, the onus is on the landlord to prove the case so having the right information in place is vital.

David also reflects on the current situation with the rental market as demand continues to rise and the availability of properties remains limited.

 

KEY TAKEAWAYS


Through Covid, there has been an eviction ban and local bailiffs have not been able to work with landlords before 1 June 2021
The landlord has to prove their case and you have to have followed the process correctly
The tenant doesn’t have to do anything at all they can be rude, disrespectful, lie and ignore you
Submit your paperwork to the court, there is an initial unattended review followed by an attended hearing around 4 weeks later
A suspended possession order means the tenant stays in the property, pays the rent going forward along with an agreed monthly amount towards the arrears
Selected licence areas are those where you need a licence from the council to have a single buy to let
There is a perfect storm at the moment with Section 24 and COVID meaning there are less properties available
There are more people needing rental accommodation because they can’t afford to buy
Rents have gone up and there are very few properties available to rent.
Tenants are offering future rent and guarantors to secure properties
As a deal packager when you are putting together a deal make sure you are reflecting the right numbers.

 

BEST MOMENTS

‘The government may have thought they were helping tenants but they’ve made it worse’

‘There are more people needing rental accommodation because they can’t afford to buy and less rental accommodation available’

‘The demand for properties currently is extraordinary’

 

VALUABLE RESOURCES 

Property Sourcing Profits Podcast

https://www.progressiveproperty.co.uk/

https://unlimited-success.co.uk/

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

Property Investors 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. 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/  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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 

Property Sourcing Profits Podcast

https://www.progressiveproperty.co.uk/

https://unlimited-success.co.uk/

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

Property Investors 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. 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/  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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 

Property Sourcing Profits Podcast

https://www.progressiveproperty.co.uk/

https://unlimited-success.co.uk/

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

Property Investors 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. 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/  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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 

Property Sourcing Profits Podcast

https://www.progressiveproperty.co.uk/

https://unlimited-success.co.uk/

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

Property Investors 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. 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/  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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 

Property Sourcing Profits Podcast

https://www.progressiveproperty.co.uk/

https://unlimited-success.co.uk/

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

Property Investors 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. 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/  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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 

Property Sourcing Profits Podcast

https://www.progressiveproperty.co.uk/

https://unlimited-success.co.uk/

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

Property Investors 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. 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/