Mark My Words

If you’ve been thinking about taking the plunge on investing in HMO’s but are not sure about the hidden costs involved, or perhaps you already have a portfolio, and can’t understand where all your money has gone? Then listen in today as Mark identifies the hidden costs of HMO’s and multi-lets. Mark outlines the importance of managing your utility bills, using detailed referencing to source the perfect tenants as well as doing up your property and setting it apart from the rest to ensure it is always occupied.

KEY TAKEAWAYS

• The first big hidden cost with HMO’s are utilities. It is important you manage these because lots of tenants will regulate the temperature of their rooms by opening the window rather than turning the thermostat up or down. Put a system in there which controls the temperature range and also the times that the heating comes on.

• Secondly, you may come across some conflict between your tenants. Noise complaints, mess complaints and anti-social behaviour are no good when this could potentially upset your current, good tenants. Reference your tenants well, make sure you get working tenants and if that has not worked, and somebody is still causing problems eventually you may have to serve notice.

• Cleaners may not do their jobs sufficiently in communal areas. Make sure everything is clean and tidy and you hire trustworthy companies to look after your property so as to not upset your tenants. Enforce regular inspections to ensure the property is tidy which will, in turn, make it a lot more marketable and people will want to stay.

• Voids in HMO’s can happen reasonably and frequently. Inevitably the property will fill up if your HMO looks the best. You really need to dress it nicely and market the property with professional marketing photos.

• Make sure you take out the correct HMO protection. Go to a broker (preferably one broker for the whole portfolio) and ensure you get the correct type of insurance so that when you do eventually have to make a claim, you will receive your payout.

BEST MOMENTS

“Make sure you are getting the cheapest electricity and gas.”

“Make your HMO look the best in the town and you will keep it full.”

“This could mean the difference between thirteen hundred pounds in council tax and potentially four or five thousand.”

ABOUT THE HOST

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, and 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

‘Brought to you by Progressive Media’: https://progressivemedia.uk/

If you’ve been thinking about taking the plunge on investing in HMO’s but are not sure about the hidden costs involved, or perhaps you already have a portfolio, and can’t understand where all your money has gone? Then listen in today as Mark identifies the hidden costs of HMO’s and multi-lets. Mark outlines the importance of managing your utility bills, using detailed referencing to source the perfect tenants as well as doing up your property and setting it apart from the rest to ensure it is always occupied.

KEY TAKEAWAYS

• The first big hidden cost with HMO’s are utilities. It is important you manage these because lots of tenants will regulate the temperature of their rooms by opening the window rather than turning the thermostat up or down. Put a system in there which controls the temperature range and also the times that the heating comes on.

• Secondly, you may come across some conflict between your tenants. Noise complaints, mess complaints and anti-social behaviour are no good when this could potentially upset your current, good tenants. Reference your tenants well, make sure you get working tenants and if that has not worked, and somebody is still causing problems eventually you may have to serve notice.

• Cleaners may not do their jobs sufficiently in communal areas. Make sure everything is clean and tidy and you hire trustworthy companies to look after your property so as to not upset your tenants. Enforce regular inspections to ensure the property is tidy which will, in turn, make it a lot more marketable and people will want to stay.

• Voids in HMO’s can happen reasonably and frequently. Inevitably the property will fill up if your HMO looks the best. You really need to dress it nicely and market the property with professional marketing photos.

• Make sure you take out the correct insurance, specifically for a HMO. Go to a broker (preferably one broker for the whole portfolio) and make sure you get the correct type of insurance so that when you do eventually have to make a claim, you will receive your payout.

BEST MOMENTS

“Make sure you are getting the cheapest electricity and gas.”

“Make your HMO look the best in the town and you will keep it full.”

“This could mean the difference between thirteen hundred pounds in council tax and potentially four or five thousand.”

ABOUT THE HOST

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, and 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

‘Brought to you by Progressive Media’: https://progressivemedia.uk/

Do you own single let accommodation, and are racking up unexpected costs each year but can’t figure out why? Or plan to start but want to know the cost involved?  Listen in to today’s podcast where Mark takes you through all the hidden costs involved in single lets which will avoid eating into your profits. Learn the importance of finding great lettings agents that ensures your property is rented out quickly and with brilliant tenants, the benefits of purchasing your properties under a limited company and why it is imperative to shop around for mortgages and insurance brokers.

KEY TAKEAWAYS 

• The number one hidden cost of single let accommodation is poor letting agents. There are many poor letting agents across the country. The main cost being poor marketing, not finding tenants quick enough when your property is empty and not putting the work into getting the property into a presentable state. A good letting agent will get the property lent quickly and therefore get the rent in for you.

•  The difference between a good lettings agent and a poor one is huge. You could lose up to half of the rent a year should you find yourself with a poor letting agent. A poor lettings agent may also not reference your tenants properly, therefore putting riskier tenants into the property which again will leave you with loss of rent or possible eviction costs. 

• Another hidden cost is high mortgage costs and not shopping around sufficiently for a mortgage. It is always beneficial to create a relationship directly with the bank and as you get better you can go to a commercial lender and maybe they will give you a better rate. Take longer-term deals, not always with fixed rates, if you look at the costs and expectation of the market, often the average rate will be lower if you go on the variable.

• To help save on some hidden costs, it is a good idea to purchase properties under a limited company. If you put properties into a limited company you can always offset all the mortgage rates against the rent, and you will only pay corporation tax on the net rent after you have taken the mortgage rate off. There is a big benefit there, especially if you want to scale and grow. 

• Not choosing the right type of builder for your refurbishment can rack up some high and unexpected costs. Focus on choosing individual tradesmen, try and source materials for them through LNPG, research the cost of materials this will all end up controlling the costs for you. 

• Make sure you take out the correct HMO protection. Go to a broker (preferably one broker for the whole portfolio) and ensure you get the correct type of insurance so that when you do eventually have to make a claim, you will receive your payout. 

BEST MOMENTS

“You have often got to kiss lots of frogs before you find a good one.”

“There is a very big gulf between a great lettings agent and an average lettings agent.”

“High mortgage costs can cost you in a big way, short deals sound great but they are not really protecting you against much at all.”

VALUABLE RESOURCES:

https://www.google.co.uk/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&ved=2ahUKEwjdkd7UiPfpAhVsQUEAHSPSC3kQFjABegQICRAB&url=https%3A%2F%2Ffast-asleep.com%2F&usg=AOvVaw1h19Fa_6IPVVrXPkbCQDJb 

ABOUT THE HOST

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, and 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

‘Brought to you by Progressive Media’: https://progressivemedia.uk/

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, and 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

‘Brought to you by Progressive Media’: https://progressivemedia.uk/

Learn how to make the most of the opportunities coming your way in property later this year after the COVID-19 pandemic. Listen in today to discover how to utilise empty retail buildings and convert them into property developments, the importance of creating strong relationships with estate agents as well as learning which areas of property are currently on the rise and which to avoid.

KEY TAKEAWAYS:

• As we progress throughout the year it is likely we will be in a situation where agents are going to be more and more interested in persuading their vendors to do deals. There will be more opportunities as the year goes on.
• Retail will be one industry hit the hardest after COVID-19, therefore there is likely to be many opportunities to purchase these retail buildings and convert the upstairs of them into apartments or rooms possibly using permitted development whereby you don’t need planning consent.
• It is important to focus on learning how to develop your relationships with estate agents because it is those guys who will bring you the best deals. In addition, you may find that the cheapest deals will be at the auctions. In a down market, the market will let you pay a lot less than the value.
• There is currently a high demand for HMO (houses of multiple occupancy) rooms due to many people's personal circumstances. As long as you create a great product and spend on the interiors to make them really high spec, there is a lot of benefit and opportunity when utilising HMO’s.
• There is likely to be a big demand for going direct to vendors when looking for new investments. Find vendors through marketing techniques such as leafleting, you may find people who are wanting to sell their property but do not want to publicly advertise.
• You need to get out there and explore new opportunities. Get out there and meet the agents and have a quality framework to use to negotiate and build those relationships.

BEST MOMENTS

“The people in the know, they are out there now starting to talk to commercial agents.”

“They want to get out of their jobs, and they want to start investing themselves.”

“There is a lot of opportunity there to increase your yield.”

ABOUT THE HOST

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, and 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

‘Brought to you by Progressive Media’: https://progressivemedia.uk/

Are you thinking about joining the world of property investment but don’t know where to start? Or are you simply looking to expand your property portfolio whilst there are some deals around? Well, listen in today as Mark answers all your property questions from commercial to residential conversions when the best time is to pick up a deal as well as busting the myth that the buy to let industry is dead.

KEY TAKEAWAYS:

• It is likely that there has been a lot of reduced prices in the commercial sector since the pandemic. There are great deals in this sector emerging with some commercial buildings going for less than half their original listing price.
• The easiest sector to do commercial to residential conversion is an office building or a retail building with up to two apartments as you don’t need planning permission. Whilst they won't be the cheapest in comparison to pubs or larger retail units, they do offer the least amount of hassle in regards to planning permission.
• Property values are already decreasing. By the end of this year the economic situation will inevitably get worse because the grant money, furlough schemes and all the loans will start to wear off. Now is the time to be out there buying stock and bidding on cheap property as there will be some good deals out there.
• There is no predicted exact date as to when the best deals will be. Start building your contacts with estate agents now, you may get a deal now but if not you will have built that bank of contacts and by the time the cheapest stock is out there all your contacts will be in place and you will be offered the best deals first.
• Now could be a good time to purchase land if the price is right, due to recent changes you can get more planning consent on greenfield sites. You may use this period to get planning consent and then in a couple of years time you can be building and selling into the market.
• Buy to let is alive and well you just need to buy the right property and ensure that it is high yielding and make sure you are putting it at the right sort of entity for the tax treatment. It is also a good strategy to buy single lets and utilise them as long as they are high yielding and bought for the right price.

BEST MOMENTS

“This time around I will do the same things, just go and buy a load of cheap stock that is high yielding.”

“The best deals are the ones that you find, you should get started now.”

“Buy to let is absolutely not dead, how could it be? Think of how many landlords and how many tenants are in the country.”

ABOUT THE HOST

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, and 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

‘Brought to you by Progressive Media’: https://progressivemedia.uk/

Do you feel restricted on what you can achieve in life because of your poor sleeping habits? Discover today the importance of getting enough sleep and the effect this can have on your physical and mental health and how mastering “sleep restriction therapy” will change your life for good! Listen in today to find out more.

KEY TAKEAWAYS:

• Sleep is one of the most important bodily functions. Not sleeping has all sorts of long term health consequences such as heart disease, cancer, obesity and it has a massive impact on individuals cognitive functioning.
  
  

BEST MOMENTS

“Times of higher stress can affect your sleeping.”

“It will change your life, it changed my life.”

“Within a week, most insomniacs show that they went from 67% sleep efficiency to 87%”

VALUABLE RESOURCES:

https://www.google.co.uk/url?sa=t&rct=j&q=&esrc=s&source=web&cd=&ved=2ahUKEwjdkd7UiPfpAhVsQUEAHSPSC3kQFjABegQICRAB&url=https%3A%2F%2Ffast-asleep.com%2F&usg=AOvVaw1h19Fa_6IPVVrXPkbCQDJb

ABOUT THE HOST

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, and 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

‘Brought to you by Progressive Media’: https://progressivemedia.uk/

KEY TAKEAWAYS

• The model of buy, refurbishment and rent was the strategy that really worked for me. It’s all about the leverage you can get.
• I have a successful strategy but am always interested to learn about something different
• I like to find someone who is doing something successfully then model on that.
• Property is opportunity led we may now see more commercial coming to market.
• Big changes will also bring big opportunities.
• There are lots of layers in the COVID situation and there can only be a broad overview of how to move forward because no one has all the facts.
• Coming out of this will be in part guided by the media and how long they continue with a negative message.
• There is money available for borrowing
• It’s all about confidence
• We have carried on working on our construction projects throughout this pandemic but have had plenty of challenges around supplies.
• Lots of self-employed people continued to work because they had to otherwise they had no income at all.
• There is nothing legally to stop you from opening your office. It’s about finding your way around the issues.

BEST MOMENTS

‘With construction, the challenges came with getting materials as suppliers closed’

‘There are lots of variables and we don’t know what they are at the moment’

‘Have a successful strategy but always be interested to learn’

VALUABLE RESOURCES

The Property Nomads Website

https://podcasts.apple.com/gb/podcast/the-property-nomads-podcast/id1440016017

The Property Nomads - Stitcher

Buy To Let: How To Get Started – By Rob Smallbone (Amazon)

Progressive Property website

Mark Homer LinkedIn

Warren Buffet Berkshire Hathaway Annual Meeting

Bank of England Monetary Policy Report Youtube

ABOUT THE HOST

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, and 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

‘Brought to you by Progressive Media’: https://progressivemedia.uk/

If you’re wondering what life after lockdown will look like for the property market then tune in today to discover how to make the most out of a rare opportunity. Mark discusses when best to purchase property at the lowest price point, to the safest revenue streams if you’re just starting out and what strategies you should use when investing post COVID-19.

KEY TAKEAWAYS:

• There is likely to be a decline in house prices once Estate Agents are back up and running again. Unemployment will rise significantly therefore the pressure on housing prices to fall will be great. There will however be many opportunities to buy cheaper with increased yields with many people preferring to rent rather than buy.
  
  

BEST MOMENTS

“There are going to be many opportunities which you will want to take advantage of.”

“There are lots of industries that will do quite well out of this.”

“Put your cash in the bank and in a savings account!”

ABOUT THE HOST

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, and 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

‘Brought to you by Progressive Media’: https://progressivemedia.uk/

Government Schemes & Benefits During The Pandemic

DESCRIPTION
Mark is joined by finance expert Shaz Nawaz where they discuss the benefits of the government's latest scheme to help people during the pandemic. They cover topics from Furlough to repayment holidays, the rights of the employer and the employee and discuss how local governments are dealing with COVID-19. Now is a perfect time to sort out your finances and save money. Tune in to find out more.

KEY TAKEAWAYS:

1. Previously an employee has to have been off work for 4 days to claim statutory sick pay, however, what the government has decided to do is reimburse the employer for the first two weeks of sickness. The employee can continue to claim themselves for up to 28 weeks.
   
   

BEST MOMENTS

“It is really important for people to be focused on their finances like they are looking after their personal health”

“In terms of getting back to normal, we won't be getting back to normal like we were in March, until next March”

“This is going to continue beyond the lockdown period”

ABOUT THE HOST

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, and 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

ABOUT THE GUEST

Shaz Nawaz, is a chattered account tax advisor and industry expert whose knowledge has often been featured in well-established national publications, and he insists on ensuring that his team is just as dedicated to the industry as he is. Shaz believes in motivating you to do better for your business as well as your finances.

‘Brought to you by Progressive Media’: https://progressivemedia.uk/