Gary Das is the founder and CEO of Active Financial. He is a mortgage expert that has raised more than a £billion in finance for his clients, many of whom are self-employed. Gary is also a social media expert, podcaster, and entrepreneur. In this episode he talks about Serviced Accommodation financing.
He explains the differences between a buy to let mortgage and one for SA and how to work out how much you can borrow. Gary also provides an insight into what criteria lenders are using right now.
 
KEY TAKEAWAYS

Not all lenders understand the serviced accommodation model. They can have quite different criteria.
With SA you must be careful what you say when you apply.
Ideally you want to have a minimum income of 25k per year.
Gary explains in the podcast how to calculate how much you can borrow.
You need to be aware that there are regulated and un-regulated loans.
Take care to understand the fees and early repayment penalties.

 
BEST MOMENTS
‘It's really important to understand what the property is for, and which lender is actually doing which of the two options.’
‘Your circumstances are a puzzle. It's about piecing that puzzle together to get you the right lender to get you the most appropriate deal for your circumstances.’
‘Finance first, the key is in the preparation.’
 
EPISODE RESOURCES
The Self-Employed Mortgage Guide - https://www.theselfemployedmortgageguide.co.uk
  
VALUABLE RESOURCES
Discovery Day Sign Up Page - https://progressivepropertyreferral.com/serviced-accommodation-discovery-day/amb0676
The Serviced Accommodation Property Podcast - https://itunes.apple.com/gb/podcast/the-serviced-accommodation-property-podcast/id1436005279?mt=2
https://propertysoldier.co.uk/
Serviced Accommodation Success by Kevin Poneskis
Rich Dad, Poor Dad by Robert T Kiyosaki
 
ABOUT THE HOST
Your host Kevin Poneskis enjoys public speaking, travelling, exercising, and keeping fit. He also enjoys working with a charity called STOLL which provides accommodation and training for homeless veterans.
 
Kevin was in the British Army serving 24 years, mostly in a Commando unit and retired at the rank of Regimental Sergeant Major. He left the Army in 2011 and became a full-time property investor. During most of his Army career, Kevin was investing in property and has been a property investor now for over 27 years.
 
CONTACT METHOD
https://en-gb.facebook.com/propertysoldier/
kevin@propertysoldier.co.uk
 
 
 

Interview with Gary Das

In The Serviced Accommodation Property Podcast you will learn how to Start, Systemise and scale a profitable Serviced Accommodation Business. Kevin served 24 years in the British Army, serving mostly in a Commando unit and retired at the rank of Regimental Sergeant Major, he left the Army in 2011 to became a full-time property investor. For most of his Army career, Kevin was investing in property and has been a successful property investor now for over 27 years which is why he is known as the Property Soldier. Serviced Accommodation is now Kevin’s preferred income generating strategy so Let Serviced Accommodation help you like it's helped Kevin by joining us on this podcast.

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This episode is Kevin´s initial reaction to the UK´s Spring Budget of 2024 and other reforms. Including the Renter´s Reform Bill, the abolition of section 24, changes to the furnished holiday let tax regime, new short-term rental regimes, enhanced fire safety standards, the Tour Operators Margin Schemes (TOMS) and more. Kevin explains why despite the changes, building and running a property portfolio is still an excellent business option, especially the various SA models.
Listen to find out how to navigate these changes and turn them to your advantage.
KEY TAKEAWAYS

Changes to legislation, the market etc. are inevitable. No matter what that change is the answer is always to stay calm, adapt and carry on.
Lots of people are put off by change, so will leave the sector, which creates more opportunities for those who persevere.
Often, seemingly negative changes actually generate more opportunities e.g. SA went nuts during CoVid.
There are always ways around things. New ways to do business.
Most of the SA-related changes do not affect hotels or B&Bs.;
The rent to SA playing field just got better.
More Buy to Let landlords are going to say yes to rent to SA.
The VAT changes creates more opportunities.
Commercial conversion to SA is not affected by the new legislation.

BEST MOMENTS
‘When more people pull out of the sector that just creates opportunities.’
‘The Renter´s Reform Bill is actually going to help serviced accommodation.’
‘Hysterical headlines are going to help.’
 
VALUABLE RESOURCES
Discovery Day Sign-Up Page - 
https://progressivepropertyreferral.com/serviced-accommodation-discovery-day/amb0676
The Serviced Accommodation Property Podcast- https://itunes.apple.com/gb/podcast/the-serviced-accommodation-property-podcast/id1436005279?mt=2
https://propertysoldier.co.uk/
Serviced Accommodation Success by Kevin Poneskis
Rich Dad, Poor Dad by Robert T Kiyosaki
ABOUT THE HOST
Your host Kevin Poneskis enjoys public speaking, travelling, exercising, and keeping fit. He also enjoys working with a charity called STOLL which provides accommodation and training for homeless veterans.
Kevin was in the British Army serving 24 years, mostly in a Commando unit and retired at the rank of Regimental Sergeant Major. He left the Army in 2011 and became a full-time property investor. During most of his Army career, Kevin was investing in property and has been a property investor now for over 27 years. 
CONTACT METHOD
https://en-gb.facebook.com/propertysoldier
kevin@propertysoldier.co.uk

Keep Calm and Carry On - Where There is Adversity There is Opportunity

Today’s episode of the Serviced Accommodation Podcast is all about turning guesthouses, B&Bs; and hotels into apart-hotels. Something that Mark Hodgkiss has already done several times, so the information in this podcast is like gold dust.
It includes how to source properties, convince owners to sell, structure an exchange with a delayed completion deal, finance it, complete the transformation, and run the business.
KEY TAKEAWAYS

Turning hotels and B&Bs; into serviced accommodation (SA), should not be the first SA deal you do.
B&Bs; are typically found in central locations, undervalued and there are not many buyers.
Adding rooms and improving the quality of the rooms can easily double profitability.
Locals typically view this type of development favourably.
Apart hotels are not 100% hands-off, but they are easier to run than you think.
Adding kitchenettes makes them more attractive.
You don´t have to necessarily wait until the business is put up for sale. Mark explains how to approach owners and put a business proposition to them that is hard to resist. 

BEST MOMENTS
‘That will result in almost doubling of the business.’
‘It´s not set and forget, but it´s getting easier.’
‘If you can offer the tools to be able to fulfil what they need out of the sale you are in a good position.’
VALUABLE RESOURCES
Discovery Day Sign-Up Page -
https://progressivepropertyreferral.com/serviced-accommodation-discovery-day/amb0676
The Serviced Accommodation Property Podcast- https://itunes.apple.com/gb/podcast/the-serviced-accommodation-property-podcast/id1436005279?mt=2
https://propertysoldier.co.uk/
Serviced Accommodation Success by Kevin Poneskis
Rich Dad, Poor Dad by Robert T Kiyosaki
EPISODE RESOURCES
info@inhotproperty.co.uk
https://www.facebook.com/InHotProperty/
Property Log Chrome Extension - https://chromewebstore.google.com/detail/property-log/jccihedpilhidcbkconacnalppdeecno?hl=en-GB
Podio - https://www.podio.com/
 
ABOUT THE HOST
Your host Kevin Poneskis enjoys public speaking, travelling, exercising, and keeping fit. He also enjoys working with a charity called STOLL which provides accommodation and training for homeless veterans.
Kevin was in the British Army serving 24 years, mostly in a Commando unit and retired at the rank of Regimental Sergeant Major. He left the Army in 2011 and became a full-time property investor. During most of his Army career, Kevin was investing in property and has been a property investor now for over 27 years.
 
CONTACT METHOD
https://en-gb.facebook.com/propertysoldier
kevin@propertysoldier.co.uk

Apart Hotels with Mark Hodgkiss

Shimon Rudich, who is himself a property investor and a very experienced solicitor, explains how to use joint venture partners to accelerate your growth. Shimon covers, identifying what skills and assets your business needs and finding the right partner to fill those gaps, enabling both of you to make more money, faster.
KEY TAKEAWAYS

Don’t skip any of the checks Shimon Rudich shares when setting up a joint venture deal. Due diligence is essential.
Only use the joint venture approach when you can achieve more than you would if you went it alone. 
Some people are not cut out for the joint venture approach.
There are many different types of joint venture. It could be exchanging labour, money, expertise or something else for a cut of the profits.
Understand which of the money making skills and assets you are lacking in, and then find partners to fill those gaps.
You have to get on well with your joint venture partner.
Never joint venture with someone who is not honest.

BEST MOMENTS
‘If you don’t do your due diligence and then you lose your money you have only yourself to blame. ’
‘You joint venture when two plus two makes five.’
‘You must know exactly what you're seeking and what you're offering.’
VALUABLE RESOURCES
Discovery Day Sign Up Page - https://progressivepropertyreferral.com/serviced-accommodation-discovery-day/amb0676
The Serviced Accommodation Property Podcast- https://itunes.apple.com/gb/podcast/the-serviced-accommodation-property-podcast/id1436005279?mt=2
https://propertysoldier.co.uk/
Serviced Accommodation Success by Kevin Poneskis
Rich Dad, Poor Dad by Robert T Kiyosaki
GUEST RESOURCES
https://www.facebook.com/shimon.rudich/ 
shimon@ms-law.co.uk 
ABOUT THE HOST
Your host Kevin Poneskis enjoys public speaking, travelling, exercising, and keeping fit. He also enjoys working with a charity called STOLL which provides accommodation and training for homeless veterans.
Kevin was in the British Army serving 24 years, mostly in a Commando unit and retired at the rank of Regimental Sergeant Major. He left the Army in 2011 and became a full-time property investor. During most of his Army career, Kevin was investing in property and has been a property investor now for over 27 years. 
CONTACT METHOD
https://en-gb.facebook.com/propertysoldier/
kevin@propertysoldier.co.uk 

Interview with Shimon Rudich

Today´s episode features Joe Catcheside, who has been a property investor for 26 years. He also does serviced accommodation, including using the rent-to-serviced accommodation model. Joe explains how he builds positive relationships with sales and letting agents as a way of finding and setting up properties for rent to SA.
 
KEY TAKEAWAYS

Estate agents will tell you about properties before they are advertised and connect you with landlords who own multiple properties.
Property sales are down by 25 to 33%, which means agents are keen to speak to property developers.
If you want something from somebody, your best starting point is to work out what they want.
When you give the agent a market advantage, they will want to do business with you. Joe explains how to do this.
Agents make a lot of their money through referrals to mortgage brokers, insurance firms etc. If you need something, ask the agent for a referral so they make money off you.
Consider paying an agent a monthly fee for their help.
Understanding whether an agency is corporate, independent or franchise massively impacts the approach you need to take.
Build relationships with the gatekeepers, so you can get to the decision maker.
Look as professional as possible e.g., subscribe to the Property Ombudsman or the Property Redress Scheme.

 
 
BEST MOMENTS
‘Estate agency as a bracket sells 98% of residential property in the UK.’
‘Don´t burn all your energy trying to create a deal that isn’t going to get past the regional team.’
 
 
VALUABLE RESOURCES
Discovery Day Sign-Up Page - https://progressivepropertyreferral.com/serviced-accommodation-discovery-day/amb0676
The Serviced Accommodation Property Podcast - https://itunes.apple.com/gb/podcast/the-serviced-accommodation-property-podcast/id1436005279?mt=2
https://propertysoldier.co.uk/
Serviced Accommodation Success by Kevin Poneskis
Rich Dad, Poor Dad by Robert T Kiyosaki
 
 
GUEST RESOURCES
jcatcheside@masswick.com
https://www.facebook.com/jpcatcheside
 
https://uk.linkedin.com/in/joe-catcheside-9413a321
 
 
ABOUT THE HOST
Your host Kevin Poneskis enjoys public speaking, travelling, exercising, and keeping fit. He also enjoys working with a charity called STOLL which provides accommodation and training for homeless veterans.
 
Kevin was in the British Army serving 24 years, mostly in a Commando unit, and retired at the rank of Regimental Sergeant Major. He left the Army in 2011 and became a full-time property investor. During most of his Army career, Kevin was investing in property and has been a property investor now for over 27 years.
 
CONTACT METHOD
https://en-gb.facebook.com/propertysoldier/
kevin@propertysoldier.co.uk
 
 
 
 

Unlocking Insider Secrets with Joe Catcheside

Mikey Small is an SA consultant who is very experienced with the Rent to SA,  SA management, and buy-refurbish-refinance into S A business models. He shares examples of sourcing properties directly from landlords and finding and buying them via letting agents. While explaining how to find the best leads, connect with the seller and close the deal.
KEY TAKEAWAYS

Building rapport is key to being able to make deals.
Be your authentic self and genuinely interested in others to build rapport.
Focus on the fact that the person you are buying from is driven by emotions and the events that are happening in their lives. You need to be interested in them as people and what is driving them.
Networking is an important part of uncovering potential deals.
You do not need to be perfect. If you wait for that you will never take that first step.
Be persistent.
Set high goals and confront your fear of rejection.

 BEST MOMENTS
‘It´s also down to the quality of the leads that you´re generating.’
‘It is a relationship business.’
VALUABLE RESOURCES
Discovery Day Sign-Up Page - https://progressivepropertyreferral.com/serviced-accommodation-discovery-day/amb0676
The Serviced Accommodation Property Podcast - https://itunes.apple.com/gb/podcast/the-serviced-accommodation-property-podcast/id1436005279?mt=2
https://propertysoldier.co.uk/
Serviced Accommodation Success by Kevin Poneskis
Rich Dad, Poor Dad by Robert T Kiyosaki
 
 
EPISODE RESOURCES
How to Win Friends and Influence People - https://www.amazon.co.uk/HOW-WIN-FRIENDS-INFLUENCE-PEOPLE/dp/9387944867/
Go For No - https://www.amazon.co.uk/Go-No-Yes-Destination-There/dp/B00LNI1RUU/
 
 
ABOUT THE GUEST
 
ABOUT THE HOST
Your host Kevin Poneskis enjoys public speaking, travelling, exercising, and keeping fit. He also enjoys working with a charity called STOLL which provides accommodation and training for homeless veterans.
 
Kevin was in the British Army serving 24 years, mostly in a Commando unit, and retired at the rank of Regimental Sergeant Major. He left the Army in 2011 and became a full-time property investor. During most of his Army career, Kevin was investing in property and has been a property investor now for over 27 years.
 
CONTACT METHOD
https://en-gb.facebook.com/propertysoldier/
kevin@propertysoldier.co.uk
 

Interview with Gary Das

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