Rio McLaughlan and Lucas Houston started sourcing property at 18. They spent
nine or ten months turning up every single day and never landed one deal. In
December 2023 Rio sent David a voice note saying he was done. Skint, going
home early from a night out because he couldn't afford it, ready to chuck the
whole thing. David plays that voice note in this episode. They've now done
over 60 deals.
If you're chasing your first deal, thinking about going full time, or sitting
in the bit where nothing is working yet, this one is worth your time.
We talk about how two mates from school ended up in business together after
starting separately, where the Landmark name came from, and the cold outreach
that turned it around. Sitting in Costa from eight in the morning until five
at night, copying and pasting messages into Facebook property groups. One
random LinkedIn message in February 2024 got them a guy with 11 properties.
They sold five of them and made £11K in a month.
The second half gets into the numbers. Twelve deals in the first year, 37 the
next, and the spreadsheet they built to work out whether they could actually
afford to quit their jobs. They also talk about the month straight after going
full time when everything fell off a cliff and they did one deal.
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In this episode:
- The voice note from 10 December 2023, played in full
- Why nine months with no deal is normal and not a sign to stop
- The cold outreach message they pasted into Facebook property groups
- How one LinkedIn message to a stranger turned into five deals and £11K
- Why they qualify an agent on the phone before booking a viewing
- The spreadsheet that told them they could go full time
- Why £300 a month cash flow is a vanity number when you're starting out
- What happened the month right after they handed in their notices
- The damp flat in Coatbridge that caught them out
- Why all 60+ deals have been sourced by them and nobody else
⸻
Subscribe for weekly conversations on property sourcing, investing and
building a business in Scotland.
What's the longest you've gone without a deal?
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📲 TikTok: https://tiktok.com/@davidsmartproperty
📲 LinkedIn: https://uk.linkedin.com/in/david-smart-
📲 Facebook: https://www.facebook.com/david.smart.7393/
🏠 Rio McLaughlan and Lucas Houston / Landmark Investments:
https://www.instagram.com/landmarkinvestments1/
https://www.instagram.com/rio_mclaughlan/
https://www.instagram.com/lucashoustonproperty/
📩 Business: [email protected]
⸻
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#GlasgowProperty #PropertyUK #DealSourcing #PropertyPodcast #FullTimeProperty
#Lanarkshire #PropertyInvestor #FirstDeal #PCNPodcast #PropertyCoachingNetwork
CHAPTERS:
00:00 Intro
01:08 Full time in property and what Landmark does now
02:37 Leaving school at 16 for a job he hated
04:46 Two mates, one course, and why they started apart
07:16 Nine months of viewings and not one deal
09:57 The TikTok that blew up and the comments
12:11 Imposter syndrome at 18
13:15 Where the name Landmark came from
17:27 The meeting that made them pick one thing
19:49 The voice note from 10 December 2023
23:25 What actually changed in the new year
24:08 One LinkedIn message, five deals, £11K
26:11 Costa at 8am, messages until 5pm
28:19 One deal is all it takes
30:55 The cold outreach strategy, start to finish
38:20 How the sourcing model actually works
40:10 37 deals last year and going direct
41:37 Qualifying agents before booking a viewing
46:02 The Facebook ads that burned money
48:57 The two houses everybody in property knows about
54:27 The spreadsheet that decided full time
57:40 April fell off a cliff
1:00:24 The assisted sale that died at the final hurdle
1:03:47 The damp flat in Coatbridge
1:06:08 From £150 a week