Welcome back to another episode of the Mark My Words podcast with your host Mark Homer. In the latest episode, Mark answers all your questions in a Live Q+A. Mark answers questions on lending, serviced accommodation, how to raise finance, and where best to invest? If you are in property these answers are essential listening.

Key Takeaways

Large developments have to be sold as the yield is too low on the rents. The people that get hurt in recessions are the ones that rely on sales. If you can rent it out and get the cash flow then that would be great. This might be a good time to start sourcing properties as we are approaching the next recession cycle.

Are you are constantly talking to agents and networking? I make sure I keep speaking to people to get the right deals. Having good relationships with these agents are essential.

If you started from zero again, where would you start? In a similar way, I think, buy some single lets and some HMOs, then start on some converted buildings. Serviced accommodation is an opportunity area at the minute but like all things, there will be more and more regulation over time.

There will be lenders who will lend with you? There will be lenders out there who will lend to you even if you don’t have any experience. When you move into commercial lendings, you will need to provide more experience. Usually, you will need to provide an appraisal of the development, schedule, sizes rent levels, your CV, and your builder's CV.

How Have You Educated Yourself In Your Different Strategies? I spend hours on forums, reading the little tips and hacks, to game systems. More and more people have come along to this but there are still opportunities. I read stacks and stacks then start testing. Maybe see someone else doing it and pilot what they are doing in a small way within my own business. There has been a lot of trial and error.

Create a Trading or Training Business. Can you create information products, online, marketing business around property. You would need a high-end property strategy to only just to property. Make sure you get the income straight away what other areas can you gain an income from.

City Centre Is Always Best. With regards to serviced accommodation, the location is essential. City centre buildings are the best, SA can be difficult outside of the city centres.

Hospitality, Bars and Restaurants. It’s not something I really understand. I don’t like the hours that you have to work. You have to pick what you enjoy. I love income streams growing but others have made those areas work well.

Investment Strategies. Mark and Rob buy watches. If you are trading you need the obsessive and educational knowledge to understand the market. Watches will be going up and up and up over time. Make sure you know the asset market really really well whatever the product.

Best Moments

‘Uncertainty provides an opportunity for purchases.’

‘I help others, and they help me.’

‘I’m very selective around who I hang around with.’

‘Stay current.’

‘Another 20% new each year.’

‘If I was starting out now I would create a training.’

‘Find something you love.’

‘The people that got hurt in that recession were the ones that rely on sales.’

 

Valuable Resources

https://www.headforpoints.com

About the Host

Bio - Mark Homer

Mark Homer is an entrepreneur investor.  He has worked with investment since he was 15 years old using the laws of wealth! He is a spreadsheet analyst with an impressive following from major publications including BBC Radio, The Wall Street Journal, The Independent, as well as co-authoring the UK’s best selling property books.  Mark has always looked for the best investment vehicle, and at the end of 2007 with Rob Moore the co-founder of Progressive Property his joint portfolio produced more profit than any of the other investments he’d tried in the last ten years, combined.

 

Contact Method

Email: [email protected]

LinkedIn: https://www.linkedin.com/in/markhomer1

Facebook: https://www.facebook.com/markprogressive

Twitter: https://twitter.com/markprogressive

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