Mark My Words

Mark revisits a previous episode this week and discusses one of the questions he repeatedly gets asked, whether it is worth using additional cash to pay off your mortgage or if it is better to invest it elsewhere? Join Mark in this episode to hear his thoughts and answers to this common question.  

KEY TAKEAWAYS

• If you are even slightly disciplined you should not pay your mortgage off. If you are worried about interest rates then look at fixed rate mortgages.
• If you can invest your cash somewhere else, you will earn more back on that lump sum than you will be paying in interest on your mortgage.
• Property is still by far the best investment opportunity particularly in terms of lending from banks; they will always give you a great interest rate on anything you borrow.
  
  

BEST MOMENTS

“Why would you want to pay of your mortgage if you can get consistently good returns by investing in your isa and getting much much higher investment returns”

“You’ve got to make your money work for you, no one else will look after your money like you do”

VALUABLE RESOURCES

https://www.youtube.com/user/progressiveproperty https://www.progressiveproperty.co.uk/the-progressive-co-founders/

ABOUT THE HOST

Mark has bought, sold or has managed around 1,000 property units for himself, Rob, his family and his investors since 2003. He is a system and spreadsheet geek and has developed a complex, confidential deal analyser system of buying residential, commercial and multi-let properties.

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 and Kevin dissect the recent UK general election results, exploring potential impacts on property investment, economic policies, and the future political landscape. Mark also shares his thoughts on navigating the changing market, seizing opportunities amidst current challenges, and adapting investment strategies.

KEY TAKEAWAYS

• Labour's victory was significant but not as large as initially predicted, with the Conservatives performing better than expected despite their worst result since the 1830s.
• Interest rates are expected to start declining in the second half of 2024, with a gradual decrease over the next 3+ years, potentially settling between 2-3%.
• The property market is likely to see an uptick once interest rates decrease, as incomes have risen and house prices have rebalanced, creating opportunities for investors.
• Buying properties through limited companies offers tax advantages, allowing full mortgage interest to offset against rent for tax purposes.
• Nigel Farage's presence in Parliament could bring attention to landlord issues and hold the Labour government accountable in an entertaining manner.
• Labour's large majority may lead to internal conflicts between centrist and left-wing factions, potentially complicating legislative efforts.
• Successful property investment requires focusing on a specific area, building local contacts, and adapting to market changes rather than using a scattered approach across multiple locations.

BEST MOMENTS  

"Do not wish for no problems, wish for the ability to handle bigger ones. And there will be some great stuff that comes out of the new election."

"I think there will be huge opportunity. If there's a big shift, there will be huge opportunities."

"You've got to take action, and get in an environment where you can learn. You need to be devouring books, courses, videos. Being around other property investors who have found a way to make money out of a new world, a new environment."

"I always say to people, do not wish for no problems, wish for the ability to handle bigger ones."

"We're making more money than we ever have out of our properties, at any point over the last 20 years, because we've changed and taken advantage of all these things and utilize them."

VALUABLE RESOURCES 

https://www.youtube.com/user/progressiveproperty https://www.progressiveproperty.co.uk/the-progressive-co-founders/

ABOUT THE HOST

Mark has bought, sold or has managed around 1,000 property units for himself, Rob, his family and his investors since 2003. He is a system and spreadsheet geek and has developed a complex, confidential deal analyser system of buying residential, commercial and multi-let properties.

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 has read through the main political parties’ manifestos, and in this episode gives his thoughts on everything from Labour’s spending promises and Green’s 1% wealth tax to The Reform Party’s proposed 45% NI for foreign workers. He focuses on the parts of the manifestos that will be important for those in property, investing and small business owners. Mark also talks about the issues politicians need to focus on to bring the country out of debt and stimulate growth. 

KEY TAKEAWAYS

• Labour’s spending promises are actually lower than the conservatives. However, there is nothing much about planning or property legislation.
• Immigration has hit 750k so the Conservative’s promises around this haven’t been kept.
• The Green Party are proposing a 1% wealth tax, these kinds of tactics haven’t worked in other European countries such as France, and they don’t lead to the effect desired.
• The country's debt is impacting growth but none of the parties have focused on it in their manifestos.
• There are more working-age people on benefits and out of work than pre-covid. This needs to be tackled by all parties
• The first time buyers schemes will likely be extended and the upper values increased to keep in line with the market.

BEST MOMENTS  

"I think the older you get the more cynical you become”

“I do believe lots of people will up sticks and leave”

 “We have debt levels of nearly 100% of the size of our economy, it is unsustainable it needs to come down”

“Do I think we will ever return to the EU? Yes I do”

VALUABLE RESOURCES 

https://www.youtube.com/user/progressiveproperty https://www.progressiveproperty.co.uk/the-progressive-co-founders/

ABOUT THE HOST

Mark has bought, sold or has managed around 1,000 property units for himself, Rob, his family and his investors since 2003. He is a system and spreadsheet geek and has developed a complex, confidential deal analyser system of buying residential, commercial and multi-let properties.

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/

This episode is taken from the recent property network revolution event, where Mark takes questions from property investors and business owners. Mark answers questions on the current political climate and what this might mean for the economy, the property market and entrepreneurs and businesses.

KEY TAKEAWAYS

• Labour still has a lot of left wing MPs in the party, convincing them to vote in more centrist policies will be a challenge for Kier Starmer.
• Whilst labour may now increase national insurance of income tax, they will find ways to stealth tax.
• Look at post war Britain, prior to Thatcher, shows the problems with rent controls and we are starting to see these issues again with the controls that have been brought in with legislation in Scotland.
• One way the country could help tenants and landlords and begin to solve supply and demand problems in housing is by reforming the planning system.
• Local planning regulations, with zones and permitted development within these would speed up planning processes and consent
• Whilst it may not be popular, someone in politics needs to make some tough decisions around planning and development so we can solve the housing crisis.

BEST MOMENTS  

"He’s not Jeremy Corbyn is he”

“The conservatives have done an appalling job for too long”

“I would reform the planning system in a huge way”

“Someone will balls needs to actually do it”

VALUABLE RESOURCES 

https://www.youtube.com/user/progressiveproperty https://www.progressiveproperty.co.uk/the-progressive-co-founders/

ABOUT THE HOST

Mark has bought, sold or has managed around 1,000 property units for himself, Rob, his family and his investors since 2003. He is a system and spreadsheet geek and has developed a complex, confidential deal analyser system of buying residential, commercial and multi-let properties.

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/

With the recent election announcement, Mark talks about what he would change in government if he were the housing minister.

VALUABLE RESOURCES 

https://www.youtube.com/user/progressiveproperty https://www.progressiveproperty.co.uk/the-progressive-co-founders/

ABOUT THE HOST

Mark has bought, sold or has managed around 1,000 property units for himself, Rob, his family and his investors since 2003. He is a system and spreadsheet geek and has developed a complex, confidential deal analyser system of buying residential, commercial and multi-let properties.

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 talks through recent property news headlines including why UK rental prices have continued to increase despite government measures. Mark gives his thoughts on proposed rent controls being introduced in Wales, the impact of current rent controls in Scotland and why the UK does not offer value for money in renting properties. He also reveals the many other reasons behind the current rental crisis in the UK.

KEY TAKEAWAYS

• 50k rental properties are needed to meet the demand in the UK
• Rent controls do not work. In the 60s and 70s, this was proven and it is being proven again.
• Rent control reduces the rental stock and pushes prices up, it also impacts the country's labour market as people cannot move around easily.
• People in the UK live in smaller homes than many other countries including France, Germany and Japan.
• Planning is extremely slow in the UK, this impacts the speed at which properties can be developed.
• Women in the UK are having fewer children than are needed to sustain the workforce which means immigration is heavily relied on.

BEST MOMENTS  

"For the 17th consecutive time, the price of renting in the UK has gone up” 

“Rent control doesn’t work”

“It will reduce the quality and selection” 

“Reduce the cost of childcare and get women back to work”

“It’s stealing off a section of society and it’s not right”

VALUABLE RESOURCES 

https://www.youtube.com/user/progressiveproperty https://www.progressiveproperty.co.uk/the-progressive-co-founders/

ABOUT THE HOST

Mark has bought, sold or has managed around 1,000 property units for himself, Rob, his family and his investors since 2003. He is a system and spreadsheet geek and has developed a complex, confidential deal analyser system of buying residential, commercial and multi-let properties.

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/

Join Mark as he talks about how to build the power team you need for your business. Mark also talks about how to keep your team motivated and why it’s essential for the success of your business to work with a team.

KEY TAKEAWAYS

• Working with property is a team sport, you can’t do everything yourself. Find the people who know more than you and work with them.
• Due diligence is essential in finding the right people for the jobs you need. There are a lot of specialists when working with property, especially if you are working in renovating or conversions.
• You want an expert with experience, someone who has verifiable skills in the exact job you want doing.
• Progressive Property Approved, is a list of approved specialists that have proven experience with progressive so you can feel confident you have the right person for the job.
• Mentorship is essential for building you and your power team, allowing you to continue to learn from those who have been where you are.

BEST MOMENTS  

"I’m a bit of a conductor, trying to find the right person for each job that I need doing” 

“You cannot know even a tiny percentage of what goes on in the property market”

“I've kissed so many frogs, picked so called experts, picked the wrong ones for the wrong jobs"

VALUABLE RESOURCES 

https://www.youtube.com/user/progressiveproperty https://www.progressiveproperty.co.uk/the-progressive-co-founders/

ABOUT THE HOST

Mark has bought, sold or has managed around 1,000 property units for himself, Rob, his family and his investors since 2003. He is a system and spreadsheet geek and has developed a complex, confidential deal analyser system of buying residential, commercial and multi-let properties.

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/

Join Mark as he gives an overview of the current news stories around property including the growth of the construction industry and his take on the favourability of first time buyers and what targets we should instead be focusing on. Mark also talks about the current rent crisis and the impact of the cost of living on landlords, investors and tenants.  

KEY TAKEAWAYS

• Historically, first time buyers keep the market moving and triggered economic growth but the favourability towards them with schemes such as help to buy have been detrimental in many ways too.
• The cost of construction has gone up by around a third, and this has created redundancies and collapses in the industry.
• Rent rises have surged post-covid and during this current cost of living crisis but Mark is seeing indications of this now slowing as demand is starting to reduce.
• Airbnb and other serviced accommodation providers have had a direct impact on housing stock. Some controls are beginning to be introduced but it’s important that these also incentivise traditional landlords to create choice and keep prices moderate.
• Building on brownfield sites is a key factor in meeting any kind of house-building targets but it’s also important that the targets are focused around the right types of properties in the right areas.

BEST MOMENTS  

"For decades there's been the assumption that first-time buyers prop the market up”

“First time buyers have become older”

“Construction industry whilst not mended is probably on the way to being mended after a difficult period”

“2020 was probably coming right to end to the previous cycle”

“We should be focused on the types of properties being built in the right areas”

VALUABLE RESOURCES 

https://www.youtube.com/user/progressiveproperty https://www.progressiveproperty.co.uk/the-progressive-co-founders/

ABOUT THE HOST

Mark has bought, sold or has managed around 1,000 property units for himself, Rob, his family and his investors since 2003. He is a system and spreadsheet geek and has developed a complex, confidential deal analyser system of buying residential, commercial and multi-let properties.

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 has been investing in property for 15-20 years, approaching the 100 mark in terms of deals made and has a 70 million equity stake in various portfolios. One of the questions he repeatedly gets asked, is whether it is worth using additional cash to pay of your mortgage or if it is better to invest it elsewhere. Listen in to this episode to hear his thoughts and answers to this common question.  

KEY TAKEAWAYS

• If you are even slightly disciplined you should not pay your mortgage off. If you are worried about interest rates then look at fixed rate mortgages.
• If you can invest your cash somewhere else, you will earn more back on that lump sum than you will be paying in interest on your mortgage.
• Property is still by far the best investment opportunity particularly in terms of lending from banks; they will always give you a great interest rate on anything you borrow.
  
  

BEST MOMENTS

“Why would you want to pay of your mortgage if you can get consistently good returns by investing in your isa and getting much much higher investment returns”

“You’ve got to make your money work for you, no one else will look after your money like you do”

VALUABLE RESOURCES

https://www.youtube.com/user/progressiveproperty https://www.progressiveproperty.co.uk/the-progressive-co-founders/

ABOUT THE HOST

Mark has bought, sold or has managed around 1,000 property units for himself, Rob, his family and his investors since 2003. He is a system and spreadsheet geek and has developed a complex, confidential deal analyser system of buying residential, commercial and multi-let properties.

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 gives an overview of the current news stories around property including new legislation and the recent budget. Mark also talks about the many changes around serviced accommodation, current house prices and gives his thoughts and opinions on why other markets aren’t investing in the UK.

KEY TAKEAWAYS

• When governments reduce taxes, they generally find they receive more tax as people spend more in the economy.
• Other markets aren’t investing in the UK as they don’t see our companies as efficient of innovative.
• There are big changes happening in serviced accommodation, you will no longer be able to claim capital allowances on SA and much more planning will be needed for new serviced accommodation.
• There have been more changes in the property market since Christmas with some areas seeing 10-15% drops.
• It’s a fine balance between legislation to help renters and pushing landlords too far, reducing the rent stock further and making the problem worse.

BEST MOMENTS  

"As you reduce tax rates, often the amount of tax you take increases”

“The markets see our companies as nowhere near efficient”

“You’re not going to be able to claim capital allowances on serviced accommodation” 

“Inflation is now at about 4%, we need 2%, we were and 10%”

“Renters reform bill is on the brink of collapse”

"It pushes rent up"

VALUABLE RESOURCES 

https://www.youtube.com/user/progressiveproperty https://www.progressiveproperty.co.uk/the-progressive-co-founders/

ABOUT THE HOST

Mark has bought, sold or has managed around 1,000 property units for himself, Rob, his family and his investors since 2003. He is a system and spreadsheet geek and has developed a complex, confidential deal analyser system of buying residential, commercial and multi-let properties.

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/