Thursday 8th October
Boris makes a Boob
 
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Today's Source - Property Investor Today.co.uk

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Hi - we are Rick Gannon, Lorraine Gannon and Sam Lawson. We are property investors focused on creating a legacy for our family and creating wealth for our retirement. 

Having achieved huge success in our own property portfolios, we now help others to do the same. 
We give back, as others before us, shared their insights and learnings about property investing. 
New Era Property Training helps you and your family help the housing crisis in the UK, whilst creating an income for you and your family to enjoy financial freedom. 

Rick is the best selling Author of Number 1 best seller property books;
1.  45 Ways to buy property
2.  House Arrest
3. The Property Millionaire Method (Co-authoured with Lorraine Gannon).

Both Lorraine and Rick are Mentors for Peter Jones Foundation (from BBC Dragons Den)

Sam is a multi-million pound portfolio owner. Sam has built his portfolio on the back of lease options and is an expert in them. 

In our show we interview some very inspiring people that have achieved great things through business and property, and chat about current property topics.

Remember its not all about lamorgunins but about the time property can buy you to spend doing the things you wanted to with your partner and family.

If you like the podcast please don't forget to leave a review.

You can Purchase our Books on Amazon Kindle - Paperback or Audible by clicking the below link.
https://amzn.to/3Gybx21

You can learn more with our flagship property training academy  https://www.newerapropertytraining.co.uk/vip-academy

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Welcome to the New Era Podcast! In this episode, Lorraine Gannon and Sam Lawson will be discussing the practical aspects of running a property business. They’ll take a closer look at Selective Licensing, reviewing whether it’s just a money-grab for landlords or if it actually does make improvements to rental housing quality. Additionally, they will introduce a great resource for managing properties and tenants that can save you time and money. Finally, they will address some of the most common questions from those new to property investment. The podcast’s theme is “Where On Earth Do I Start?!” so get ready to kickstart your property journey!We start with today’s news article, in which landlords are slamming Liverpool’s shockingly slow licensing application process. At the current rate of processing, it will take a staggering 150 years to process all applications received thus far. Is this fair to property owners in the area? Tune in to today’s episode of the New Era Podcast for an insight into the issues and an analysis of what this means for property owners in Liverpool and beyond!Full Article here - https://www.landlordzone.co.uk/news/landlords-slam-liverpools-shockingly-slow-licence-application-process/Then we move on to tackle some of the most frequently asked questions from those looking to make their first property investment. Together they answer questions such as whether it’s better to invest in personal or company name, if a BTL mortgage is needed when residential rates are cheaper, how to stay on top of document renewals, and much more. Additionally, they take a look at how much time goes into managing rental properties and the importance of capital growth versus cashflow. Finally, they offer advice on how to decide if being a landlord is the right fit for you. There's some really helpful thoughts in this section that'll benefit experienced and new landlords alike.Now each episode we try to share with you a free (or very affordable resource) to sign the session off - partly sharing tools we love but also as a thankyou for listening along! This episode’s resource is pretty close to home - we actually mentioned it in passing earlier - but it’s GoTenant!So, GoTenant! Was created by Rick Gannon as a one stop shop for all of your property and tenant management leads - designed by a private landlord with similar business in mind. So what does GoTenant! Actually do? It’s a property management system that covers everything that you need in order to manage your properties such as - document renewal reminders, maintenance reporting, being able to share this information with your team. BUT it also has everything that you need to manage your tenants and tenancies - booking viewings, tenant onboarding, e-signatures for contracts, communications, auditable trails, rent tracking and it even integrates with Xero’s booking keeping platform! All in one place!You can find Gotenant (https://www.welcome.gotenant.co.uk/)! At gotenant.co.uk and best of all they offer a free 1 month trial! This’ll give you a chance to get on the platform and take it for a spin before deciding if it’s for you!

Where on Earth Do I Start In Property?!

Welcome to today’s episode of the New Era podcast where we discuss all things property and hopefully share some tips and ideas on what to do – and what not to do! Today' episode is called How To Lose Money In Property! In which we'll be discussing the main ways in which we've seen investors lose money in property in the hope we can all learn how not to!Presented by Lorraine Gannon & Sam Lawson we'll be taking you on a tour of all things property today! Today we’ll be talking about;A fantastic (& free) resource that you can use to buff up your knowledge on all things planning related!An updated forecast for what’s going to happen in the property market in 2023And we’ll be diving into today’s main topic of How To Lose Money In Property - sharing some of the main ways in which we’ve seen people lose money in property so hopefully you can avoid making the same mistakes along the way!Sounds like we’ve got plenty to talk about so let’s start with our news story…  News Story This week's story comes from Property Industry Eye - its a prediction that house prices are due to drop by at least 10% in 2023 - full article here!https://propertyindustryeye.com/uk-house-prices-predicted-to-drop-by-at-least-10-in-2023/  We’d love to know your thoughts on this, are you seeing pricing start to drop in your areas? Or the opposite? What’s your forecast for next year? Value Give So, today’s hot topic is “How to lose money in property” - we’re going to be looking at some of the key ways in which people generally lose money in property investing! I think we’ll take it in turns and let’s do 2 eachSam's First One;Under-estimating refurbishment costs - This has to be at the top of my list for places where people go wrong and can get themselves into trouble. Most of the time this is down to not being willing to do the leg-work to get meaningful quotes - often investors walk around a property and pick a number from thin air. This rarely takes into consideration the specification or how quickly the work will be required to be done. My best advice on this is simply don’t be afraid to do the work to get meaningful quotes & try to have a clear idea of the cost of going over schedule - the cost of your bridging finance, council tax, utilities, lost rent, opportunity cost etc. etc.Lorraine's First One;Buying properties with too low a yield - In our portfolio & training company, you’ll see we have a bias towards high-cashflow strategies. The reason is that it’s entirely possible to purchase a property at a reasonable price, refurbish it and rent it out for - let’s say - £1,000 per month - and then when you refinance be disappointed with the actual net amount of money you receive each month.The three main factors (generally) in this are 1) the amount of rent 2) the amount of debt and 3) the interest rate.We’ve found that there’s lots of viable high-cash flowing property strategies out there that consistently perform well - even with interest rates being where they are today! So my big tip would be focus on high cash flow strategies & deals!Sam's Second One;Ok, so you’ve got me thinking now! Building on from your last one - People that enter and exit the market too often! Now this isn’t to say you can’t/shouldn’t sell property BUT you’ve got to know the costs attached to it - solicitors fees, capital gains tax, agents fees, potential finance costs etc. etc.And, if you’re only selling one property to then use these funds to buy a different property you’ll be looking at another round of buying costs - solicitors, lender solicitors, brokers, valuations, professional consultations,

How To Lose Money In Property!

Join us for this episode in which Lorraine Gannon & Sam Lawson discuss all things related to property investment! In this episode they discuss the continued increase in rents, how to reduce the chances of having your property trashed & share a fantastic resource to start to help you work with colour palettes in your interior design!The news story that we're discussing this week suggests that;* The average Property Mark agent had 142 applicants registered on their books as of February 2022* But only 5 properties available* 12 months prior to this the average agent had 82 applicants per branchThe full report can be found from the Property Mark website here (https://www.propertymark.co.uk/resource/the-prs-faces-record-pressure.html#:~:text=There%20is%20an%20average%20of,upwards%20trend%20since%20April%202017).Alternatively, there's a great summary of this available on Landlord Today's website here (https://www.landlordtoday.co.uk/breaking-news/2022/3/supply-drought-continues--with-rents-rising-as-a-consequence).As we move into the next section of the podcast we discuss How To Get Your Property Trashed!...... Hopefully you can learn the opposite from this section!Deposits - both Lorraine & Sam have previously offered property, primarily HMO rooms, with no deposits. In reflecting on this experience the advantages hinge around making a low barrier for entry for the tenant - landlords fundamentally want to help people. That being said, due to having no easy financial recourse (and a couple of bad experiences) Sam explains that they're no longer offering this option within their portfolio - taking £200 deposits on existing rooms and £400 deposits on high-end rooms that are recently refurbished. Lorraine makes the point that HMO's have a high visibility from cleaners/maintenance/inspections than a standard BTL - also HMO damages tend to be limited to just a single room.Referencing - no surprise that referencing came up in this conversation. The importance of taking a previous landlord reference, employers reference and a credit check.The attitude test - now you won't find a form for tenants to complete an "attitude test" but this brings together all of the intangible elements that we get from meeting the prospective tenant at the viewing! How's their attitude? Manners? How do they ask questions? How do they respond to questions being asked? Is this someone that you could work with if things went wrong? All important stuff!Finally as we round of the podcast we share a resource with you that we've found useful! For this episode’s resource, we’re going to have a bit of a gear change and look at a tool that I find really useful for interior design! Particularly colour palettes.I’ll quite happily admit that developing a colour palette to work from isn’t a natural skill for me, I can spend ages trying to piece together a palette that I’m passionate about – by contrast my wife seems to be able to come up with seemingly endless colour ideas! All of which are cohesive and appealing! Now the resource is completely free and you can find it at color.adobe.com (https://color.adobe.com/create/color-wheel) – here on Adobe’s site there are loads of fantastic tools to help you develop colour palettes to work from easily but I wanted to share one feature which is the ability to upload an image (or collection of images) and have it automatically suggest colour palettes based upon this! If you’re on mobile you select “image” or if you’re on desktop you select “extract theme” – here you can upload an image and Adobe’s tool will extract & suggest a range of colour palettes helpfully broken down into 5 or 6 categories – for example bright, muted, deep etc.

How To Get Your Property Trashed!

Well, it seems that Lizz Truss has no idea what she wants to do when it comes to the removal of Section 21 - one minute it's staying then a little pressure is placed on her and WHAM! it is back to square one. So, are we keeping Section 21 or is it going to be removed?

Section 21 Eviction - is it staying or is it going?

Loads of press currently about Serviced Accommodation and if we should be able to own second homes or not as this can be perceived as "gobbling" up the local housing stock.Join Lorraine and me on this Podcast to hear our thoughts.Please do subscribe to the podcast and consider leaving a review :-)If you would like to become part of my VIP Academy where I share over 100 hours of property workshops including Serviced Accommadation then click this link hereTo join my VIP Academy click herehttps://bit.ly/VIPPODCAST (https://bit.ly/VIPPODCAST)

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