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/
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 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/
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 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/
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 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/
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 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/
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 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/
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 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 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 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/
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 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/
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 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 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 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/
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 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/
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 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/
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 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/
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 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/
Kat Kuczynska
David's podcast has quickly became one of my favourites - his down-to-earth delivery, sense of humour and tons of valuable information makes it an unmissable mix of entertainment and education.
Lenka Jencova Bednarikova
Trully enjoying your podcast David , always great information and well delivered. making my driving more interesting 😊 thank you
Sarah-Jane Percy
I love how you all put this together. I'm always able to take massively effective notes so thank you all 🙏🏼 I really appreciate the information that you deliver in your podcasts 😊 Much love 😍
Grant Spillman
Fantastic podcast David is informative, knowledgeable and talks from his expierance a podcast not to be missed