Property Sourcing Profits

Sam Spencer’s background was in physiotherapy and had carved out something of a successful career for himself. The money was great. He was seeing the world. Opportunities were everywhere. But suddenly the rug was pulled out from beneath his feet when his role was made redundant.

But instead of being defeated, Sam chose to take control of his business and financial life and found his way to Progressive Property, and an entirely new world was opened up to him.

Sam joins David today to talk about his amazing journey, and to share his best advice on how to get your start as a property packager, a business in which he now earns over five thousand pounds every week!

KEY TAKEAWAYS

• After being made redundant, Sam found Progressive Property and attended their strategy events and Masterclass, an inspiring course of learning that he describes as “mind blowing"
• Sam was convinced that you needed to be rich in order to be a property investor, but the Progressive courses showed him that this common perception is very misunderstood.
• Relationships are key to kicking off your career in deal packaging. Sam focussed heavily on online and offline marketing. 
  • Online, Sam increased his social media presence, describing in detail every step of his property strategy. 
  • Offline, Sam was attending networking and business events. One of the most effective strategies Sam used at these events was to develop a thirty-second elevator pitch about his business that left the listener wanting more.
• Sam is a fierce proponent of the bespoke approach, treating each investor and agent personally, and matching their individual needs with the skills and product he can supply.
• Scaling the business is a main goal, and can only be achieved by leveraging day to day tasks, so that Sam can focus on what’s important to him; namely supplying a personal, bespoke and intimate service to his increasing network of delighted clients.
• When it comes to the sometimes tricky subject of paying a fee to a property deal packager, Sam chooses to describe this payment as an “Investment In Me”, as they’re not only paying for a service, but for a level of trust.
• "There’s power in saying no” - You can waste yours, and your investor’s, valuable time on making promises you can’t keep. Especially for those new in deal packaging, it can be tempting to promise the earth in the hopes of winning a client, but experience will tell you that in the long run this is a bad strategy.

BEST MOMENTS

‘At that moment, I knew that I would never let someone else control my financial future again’

‘One of the main things training did for me was it gave me belief’

‘I had a certain level of confidence, tonality and body language, and when you combine those with action you’re going to get results’

‘I create financial security for my investors. It just so happens that at the moment I do that through property'

‘I love deal packaging and I love helping investors’

‘I want to see the whites of their eyes if possible’

‘Investors don’t judge you on the challenges that arise. They judge you on how you deal with those challenges’

‘Communication is key'

VALUABLE RESOURCES

Property Sourcing Profits Podcast

https://www.progressiveproperty.co.uk/

https://unlimited-success.co.uk/

https://www.facebook.com/groups/progressivepropertycommunity/

Sam Spencer - LinkedIn

ABOUT THE HOST

David is a property expert with over 25 years’ experience and his own portfolio of 26 units. His current rent roll is in excess of £10k per month. He is also a partner in a Deal Sourcing and Packaging business in the North West of England and has sourced over 250 properties for investors since 2004.

In recent years he has, by necessity, had to develop an expertise in LHA strategies. This area is increasingly becoming a niche for him, and he enjoys empowering other landlords by sharing the knowledge he has gained.

The ultimate purpose when sourcing properties in this sector for investors is to minimise risk while maximising profit. He has had to find answers to the challenges of Tenant Find, Management, ensuring rents are paid and the transition to Universal Credit. These are strategies he uses in his own business and also on behalf of investors. His investor clients regularly achieve annual gross yields of over 20% with high occupancy rates and voids resolved, sometimes within hours.

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

https://www.facebook.com/DavidSieglerInvestments/

‘You just need one mistake to skew the numbers and it de-positions you with your investor, you must get the numbers right’

David explains the numbers that are key and how to ensure the calculations are correct when you are putting together a deal for an investor.

He shares a detailed example of when a deal isn’t a deal worth having because the numbers don’t stack up and how each number can be calculated accurately.

If you want to understand exactly how to make the calculations that make a deal package listen in now.

KEY TAKEAWAYS

• It’s about getting your numbers right, valuing the property that you are proposing to send to the investor.
• There are 2 numbers required for valuing a property to let; the gross yield and the return on capital employed.
• Gross yield is a gross number, it is the total rent you are going to achieve in the first year divided by the total cost of acquisition, including everything (kitchen sink, deal packaging fees, stamp duty, legal fees)
• Gross rent divided by the gross cost of acquisition equals gross yield –  the property industry understands this figure
• Return on capital employed is the net number, It’s the money the investor is going to get returned on their money.
• To get the net income you subtract all the costs of ownership (letting fees, voids, repairs) giving you a net rent.
• You divide this net income by the money you leave in the deal.
• As the deal sourcer it is incumbent on you to work out what that property is worth.
• To know what the house may be worth look at comparable properties. Using comparable properties provides evidence for the valuation.
• What every experienced investor wants is a return on the cash left in the deal and how you work that out is going to make the difference on whether you sell the deal or not.

BEST MOMENTS

‘If you are sending this minestrone of numbers to your investors they are not going to buy the deal’

‘If I was the investor and the numbers were sent to me there is no way I would buy that deal’

‘Gross yield is important, it’s a common language in the property industry, people know exactly what it is’

VALUABLE RESOURCES

Property Sourcing Profits Podcast

https://www.progressiveproperty.co.uk/

https://unlimited-success.co.uk/

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

David is a property expert with over 25 years’ experience and his own portfolio of 26 units. His current rent roll is in excess of £10k per month. He is also a partner in a Deal Sourcing and Packaging business in the North West of England and has sourced over 250 properties for investors since 2004.

In recent years he has, by necessity, had to develop an expertise in LHA strategies. This area is increasingly becoming a niche for him, and he enjoys empowering other landlords by sharing the knowledge he has gained.

The ultimate purpose when sourcing properties in this sector for investors is to minimise risk while maximising profit. He has had to find answers to the challenges of Tenant Find, Management, ensuring rents are paid and the transition to Universal Credit. These are strategies he uses in his own business and also on behalf of investors. His investor clients regularly achieve annual gross yields of over 20% with high occupancy rates and voids resolved, sometimes within hours.

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

https://www.facebook.com/DavidSieglerInvestments/  

‘I get feedback, sometimes tough love is necessary, sometimes a kick, sometimes a guiding hand’

In this informative episode, David tackles the issues and questions that have been raised by some of the deal packaging community.

He focuses on some of the issues those early in their deal packaging experience often find the most challenging and provides succinct advice on how to deal with the problems and move forward from these ‘road blocks’

KEY TAKEAWAYS

I’m doing lots of work for investors, when do I get paid?

• Finding investors first is key, you haven’t got a deal until you’ve got investors and you need the right investors.
• Choose wisely and make sure you work for the right people, listen to what they say, if they have the experience, are real and are nice to you, build a relationship with them it will have a positive outcome for you.

When is a deal, a deal?

• You’ve got to add value, increase the numbers and make your investor wealthy whether in the South or the North we use our education to make the investors wealthy.
• We use our education to source properties that we can do something to, add value and improve the gross yield.
• Don’t change your area, don’t change the property, change the strategy.
• You need access to people who can help you, people around you.

If I find a deal how do I get it off the market?

• It all depends on the relationship you have with the estate agent. If the relationship is positive some will work with you and these are the ones you need to find and work with on a regular basis building a positive relationship.
• You’ve got to be credible, confident, realistic and know what you are talking about what your strategy is and the destination for the property. It's only these one to one relationships that will allow you to move forward. If they don’t trust or believe in you they are not going to take the property off the market.

BEST MOMENTS

‘Don’t go with tyre kickers and time wasters, I can teach you how to do that’

‘Build your network of people and you will get paid’

‘It will happen for you’

‘You will eventually get to a point where you have too many investors for the deals you have available’

VALUABLE RESOURCES

Property Sourcing Profits Podcast

https://www.progressiveproperty.co.uk/

https://unlimited-success.co.uk/

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

David is a property expert with over 25 years’ experience and his own portfolio of 26 units. His current rent roll is in excess of £10k per month. He is also a partner in a Deal Sourcing and Packaging business in the North West of England and has sourced over 250 properties for investors since 2004.

In recent years he has, by necessity, had to develop an expertise in LHA strategies. This area is increasingly becoming a niche for him, and he enjoys empowering other landlords by sharing the knowledge he has gained.

The ultimate purpose when sourcing properties in this sector for investors is to minimise risk while maximising profit. He has had to find answers to the challenges of Tenant Find, Management, ensuring rents are paid and the transition to Universal Credit. These are strategies he uses in his own business and also on behalf of investors. His investor clients regularly achieve annual gross yields of over 20% with high occupancy rates and voids resolved, sometimes within hours.

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

https://www.facebook.com/DavidSieglerInvestments/  

We were interested in and passionate about property, but we didn’t see how it could scale to replace an income until we came to ‘multiple streams at Progressive’

In this episode, David is in conversation with Rick Cusimano who shares his journey from day one as a deal packager.

In this candid conversation, Rick shares what was successful and the challenges he faced in the first 12 months.

If you’ve ever wondered if you can do it – listen in to this episode now, to hear about how Rick did it, the success he has achieved and how you can do it too!

KEY TAKEAWAYS

What changed at multiple streams of property income event?

• It was gaining the knowledge and understanding about how you can buy a property with other people’s money, joint venture on projects and package deals.
• Through sharing on social media and networking people became interested in our journey and we were approached by an investor who was interested in purchasing a buy to let and we started talking to people about deal packaging.

What came first the deals or the investors?

• We brought the investors along for the journey as this ensures the offers you are placing meet the needs of the investor and ultimately gets their buy-in when an offer is accepted and they are able, with your help, to secure the property immediately.
• Initially, over the first deals, you want to maximise your efforts and be sure that when an offer is accepted you can complete the deal.
• Investors want to see an example to be able to discuss, we had purchased a property to let so we were the first buyer.
• We filled the investor pack with information about other properties we had bid on but been unsuccessful is securing because it showed the types of deals we were going after and the types of returns we were expected.

Did you have to find a new investor for a new property each time?

• Most of the deals initially were single lets with new investors and we then grew with recommendations and investors returning to purchase again
• Whatever you learn on a project try and condense it into a model you can use again.
• You need to de-risk things as much as you can.
• Property has its challenges like everything else, and it's key you don’t give up, speak to others and seek advice.
• There are always challenges and it’s about finding a solution that can be applied again.
• It's about the people around you, they either know the answer or know someone who knows the answer and that help, and advice is crucial for anyone.

BEST MOMENTS

‘These are the types of returns we are looking for is this what you are looking for?’

‘To be able to find homes immediately for all the deals we sourced in the first year’

‘The investor will enjoy the journey as much as the destination’

‘Whatever you learn on a project try and condense it into a model you can use again’

‘You’ve gone through the fire and come out the other side’

VALUABLE RESOURCES

Property Sourcing Profits Podcast

https://www.progressiveproperty.co.uk/

https://unlimited-success.co.uk/

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

David is a property expert with over 25 years’ experience and his own portfolio of 26 units. His current rent roll is in excess of £10k per month. He is also a partner in a Deal Sourcing and Packaging business in the North West of England and has sourced over 250 properties for investors since 2004.

In recent years he has, by necessity, had to develop an expertise in LHA strategies. This area is increasingly becoming a niche for him, and he enjoys empowering other landlords by sharing the knowledge he has gained.

The ultimate purpose when sourcing properties in this sector for investors is to minimise risk while maximising profit. He has had to find answers to the challenges of Tenant Find, Management, ensuring rents are paid and the transition to Universal Credit. These are strategies he uses in his own business and also on behalf of investors. His investor clients regularly achieve annual gross yields of over 20% with high occupancy rates and voids resolved, sometimes within hours.

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

https://www.facebook.com/DavidSieglerInvestments/  

Welcome back to the Property Sourcing Podcast!

If you’re looking a straight-to-the-point introduction to packaging rent to rent and serviced accommodation, then you’re in the right place. Today, David interviews Nick Vint from Falcon Property Services who’s experienced in this aspect. Discover what factors to consider, what to look at when viewing properties, and how to approach investors and landlords, so you could start earning money fast. Rent 2 rent’s and SA’s are proven to be good for those starting in property. Start tuning in to know more.

KEY TAKEAWAYS

• Where to start when you want to source serviced accommodations for rent 2 rent? Nic says it’s relatively cheap, but the very first thing you should do is to do your due diligence.
• Know the difference between a house and a flat. This is something you should remember when viewing properties. With houses that have a mortgage, know if subletting will be allowed. With flats, it depends on the existing lease.
  • If the mortgage has restrictions you want to change, you can ask the mortgage provider if it can be edited.
• When subletting, always go first for the corporate lets. Nick tries to avoid online travel agents/booking sites since they charge big.
• Management contracts are legal documents that cover duties and responsibilities for landlords and investors.
• Think about the market you’re dealing with serviced accommodations. For example, contractors won’t be sharing beds, so it’s best to get set up one bed in a room.
• Nick asks these questions when he initially interviews the landlords:
  • Is your property still available?
  • If so, would you consider longer lets?
  • Would you also consider corporate lets agreements?
• Where can you find your investors? Social media and event networking
• Nick’s tips:
  • Know your investors. Do a check on their background and credibility.
  • Make sure that the furniture, utilities, appliances, etc. are all sorted.
  • Put everything in writing.

BEST MOMENTS

• “Make sure you know what you’re looking for because most landlords don’t.”
• “You need to understand what market you are targeting, whether they be contractors, corporates, etc.”
• “For investors, just make sure they are who they say they are.”

VALUABLE RESOURCES

• Falcon Property Services
• Gumtree

ABOUT THE GUEST

Nick Vint is a property specialist at Falcon Property Services, Ltd. He helps property investors with rent 2 rent and serviced accommodation units. He’s also an entrepreneur and a mentor. He’s passionate about helping other people start their own business and increase their wealth.

• Nick’s LinkedIn

ABOUT THE HOST

David is a property expert with over 25 years’ experience and his own portfolio of 26 units. His current rent roll is in excess of £10k per month. He is also a partner in a Deal Sourcing and Packaging business in the North West of England and has sourced over 250 properties for investors since 2004.

In recent years he has, by necessity, had to develop an expertise in LHA strategies. This area is increasingly becoming a niche for him, and he enjoys empowering other landlords by sharing the knowledge he has gained.

The ultimate purpose when sourcing properties in this sector for investors is to minimise risk while maximising profit. He has had to find answers to the challenges of Tenant Find, Management, ensuring rents are paid and the transition to Universal Credit. These are strategies he uses in his own business and also on behalf of investors. His investor clients regularly achieve annual gross yields of over 20% with high occupancy rates and voids resolved, sometimes within hours.

CONTACT METHOD

• David’s LinkedIn
• David’s Facebook

In this very special episode, the conversation is flipped the other way around! David finds himself being interviewed about deal packaging and property by none other than Khadija Kalifa, one of the most successful contestants on BBC’s The Apprentice, and a valued member of the Progressive Property team, who met with David to dig into his more personal side, but also to discuss his journey, his take on success, and what deal packaging can do for you…  

KEY TAKEAWAYS

• The average fee for any deal packager in the UK is £5,200. Lining up a few of these deals in a row can net you a superb income.

• Deal packagers need to work using lots of different strategies, such as buy-to-lets, HMOs etc. But the more you work at it, the bigger your network grows, and the more successful your company will be.

• You can increase your yields by layering on your knowledge, your different strategies. By using HMO or SA strategies on your investments, you can raise your yield percentage, which is always attractive to investors, who can earn way more from being a part of your strategy than from traditional savings interest rates.

• If you’re going to be a property person, you need to make firm alliances with people you can trust, and who can make your business tick along reliably. There’s no substitute for a power team.

• You need to enjoy your journey, whatever that may be. David always applies humour to his public speaking, but also looks on the brighter side in every part of his life. If people like you, it won’t only help you in business, but also in life.

• One of the most valuable lessons that David has learned is that it’s okay to think about business in a more collaborative way. For most of his business life, it was ingrained into him that you do not share anything that will benefit your competitors. But upon joining Progressive Property, David has learned about the value in networking, sharing and becoming part of a team that works tirelessly to help each other.

• Khadija and David both believe firmly that life should be lived to its full extent. It’s not enough to settle. Staying hungry and always planning for the next challenge opens up a world of possibilities in life, whether that is travel, security or being able to give your family the best version of life. But it takes work. You need to be prepared to put in the hours.

BEST MOMENTS 

‘I might be 64 but inside I’m 24!’ 

‘Deal packaging is the fastest way on the planet to get money into your property business’ 

‘Property is a joy’ 

‘All my material needs are covered by property’ 

‘You’re exactly the way you are at home, but bigger’ 

‘I’ve made more friends here over the past three years than I’ve made in the last thirty’

VALUABLE RESOURCES

Property Sourcing Profits Podcast
Khadija Kalifa – Instagram
Khadija Kalifa – Twitter

ABOUT THE HOST

David is a property expert with over 25 years’ experience and his own portfolio of 26 units. His current rent roll is in excess of £10k per month. He is also a partner in a Deal Sourcing and Packaging business in the North West of England and has sourced over 250 properties for investors since 2004. In recent years he has, by necessity, had to develop an expertise in LHA strategies. 

This area is increasingly becoming a niche for him, and he enjoys empowering other landlords by sharing the knowledge he has gained. The ultimate purpose when sourcing properties in this sector for investors is to minimise risk while maximising profit. He has had to find answers to the challenges of Tenant Find, Management, ensuring rents are paid and the transition to Universal Credit. 

These are strategies he uses in his own business and also on behalf of investors. His investor clients regularly achieve annual gross yields of over 20% with high occupancy rates and voids resolved, sometimes within hours.

CONTACT METHOD

LinkedIn
Facebook

If you’re looking for the fastest way to increase your cash flow, then consider learning about Deal Packaging.  

This episode of the Property Sourcing Profits Podcast is perfect for starters who want to learn this property strategy. Today, it’s David who’s going to be interviewed by your guest host, Laura Muse. Everything you need to know about deal packaging will be tackled – from looking for investors to securing your compliance to presenting your deals. David says it’s going to be easy to achieve success in deal packaging. Just remember to keep doing what you need to do and don’t let fear get the best of you. 

KEY TAKEAWAYS 

• Deal packaging is very ideal for those who are just starting in property investing who have little to no capital yet. The first step is to find your investors, know what they want (i.e. financial criteria), and go ‘shopping’ for properties. 

• You need the tools – cell phone, laptop, internet, etc. – to find and communicate with people (i.e. letting agents). 

• Find your niche. For David, it’s specialising on HMOs. The fastest way is the rent to rent serviced accommodation packages. 
• For compliance, you need: 

• Professional Indemnity Insurance, 

• Tpi registration, 
• registration with the ICO, and 
• registration with HMRC for anti-money laundering supervision. 

• Where do you find the investors? David’s advice is to utilise social media. It’s free, and most people own accounts on different platforms. Plan out how you will present yourself and what you’re offering. 
• It’s rare that people do deal packaging solely for the next 5 years in their property career. You have to learn and try other property strategies along the journey. 

• How do you present deals to investors? Find out what numbers they want. Be knowledgeable about the gross yield and return on capital employed or ROCE. David doesn’t really advise to use ROI in deal packaging. 
• What are the mistakes that new deal packagers make? Inactivity and Fear 

BEST MOMENTS 

VALUABLE RESOURCES 

ABOUT THE GUEST 

Laura Muse is a property investor and has expertise in deal packages, property renovation, domestic and commercial development and many more. She is the Director of I Squared Property, which offers investors a hands0free solution to building a property portfolio. 

ABOUT THE HOST 

David is a property expert with over 25 years’ experience and his own portfolio of 26 units. His current rent roll is in excess of £10k per month. He is also a partner in a Deal Sourcing and Packaging business in the North West of England and has sourced over 250 properties for investors since 2004. 

In recent years he has, by necessity, had to develop an expertise in LHA strategies. This area is increasingly becoming a niche for him, and he enjoys empowering other landlords by sharing the knowledge he has gained. 

The ultimate purpose when sourcing properties in this sector for investors is to minimise risk while maximising profit. He has had to find answers to the challenges of Tenant Find, Management, ensuring rents are paid and the transition to Universal Credit. These are strategies he uses in his own business and also on behalf of investors. His investor clients regularly achieve annual gross yields of over 20% with high occupancy rates and voids resolved, sometimes within hours. 

CONTACT METHOD 

In this very special episode, David is in conversation with Rebecca Smith, a former deal packager who had such huge success that she was able to transition to a new career focussing on the investment side of property.

In this highly inspirational episode, Rebecca gives her insights into the mindset she used to carve out a new career for herself in property, the creativity she employed to create her own business model, and the lessons she learned along the way towards her own success story.

KEY TAKEAWAYS

• Rebecca counts her network, especially the one she’s cultivated through Progressive, as the biggest part of her success story. 
• By establishing her goals, both professional and financial at the very outset, Rebecca was better able to target the key areas in her own personal development. Deal packaging was, for her, the easiest way to earn cash so that she could replace the income she was set to lose by leaving employment.
• Rebecca chose to focus on investors and investment as her particular speciality. Her communication and creativity soon began to attract numerous investors. The main tip that Rebecca recommends is to always be honest with investors and deliver results realistically and on time.
• Networking, which Rebecca credits as the main reason for her success, always works best when you engage in a mixture of business and property networking. Property networking alone can be difficult as most people in your prospective network are looking for the same type of deals that you are. At business networking events, you can sometimes be the only property person in the room, which obviously gives you a much better chance of finding an investor for you.
• Rebecca spends much time getting to know her investors personally as she believes this leads to a greater understanding of what they need, and what they’re looking for in an investment. By better understanding not just their bank account, but also their personal circumstances, Rebecca is able to offer highly focussed deals that investors will always have time for. It also allows her to identify, from a distance, which investment opportunity will be best for which investor.
• As her network grew, and as new opportunities began to emerge, Rebecca discovered a new business model for herself; organising short-term, high-return investment for developers, acting as a kind of broker between those looking for capital, and those willing to provide it.
• Rebecca has had her share of low points as well as highs. Along with several other successful graduates of Progressive, Rebecca credits tenacity and perseverance as the kay factors in her success. By never giving up, she has established herself as a power house in property investment.
• Although goals are always centred around money, the real aim of success is not money, but what money can give to you: time. Time is the most important asset that Rebecca has achieved. By leveraging her new business model, and being able to leave her corporate career, she now has more time with her family.

BEST MOMENTS

“I’m a huge believer in the power of mentoring and masterminding. I’ve done it in every part of my life and I still do”

“Unless you know what you need to earn, and by when, you wont know which strategy to use”

“Under-promise and over-deliver”

“I use property networking to grow my power team, and business networking to grow my investor network”

“My job is to reduce the risk”

“So many people reach the point at which they’re about to start earning, and then they give up and move on to another strategy”

“Shiny pennies everywhere, that’s the problem”

“The money will come, in property, if you stick at it and keep doing what you’re doing”

VALUABLE RESOURCES

Property Sourcing Profits Podcast

Rebecca Smith - LinkedIn

https://www.progressiveproperty.co.uk/

https://unlimited-success.co.uk/

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

David is a property expert with over 25 years’ experience and his own portfolio of 26 units. His current rent roll is in excess of £10k per month. He is also a partner in a Deal Sourcing and Packaging business in the North West of England and has sourced over 250 properties for investors since 2004.

In recent years he has, by necessity, had to develop an expertise in LHA strategies. This area is increasingly becoming a niche for him, and he enjoys empowering other landlords by sharing the knowledge he has gained.

The ultimate purpose when sourcing properties in this sector for investors is to minimise risk while maximising profit. He has had to find answers to the challenges of Tenant Find, Management, ensuring rents are paid and the transition to Universal Credit. These are strategies he uses in his own business and also on behalf of investors. His investor clients regularly achieve annual gross yields of over 20% with high occupancy rates and voids resolved, sometimes within hours.

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

https://www.facebook.com/DavidSieglerInvestments/  

In this inspirational episode, David is in conversation with Jessie Marsh who has used her experience and expertise in property sourcing to move successfully into other areas.

They discuss her journey, the initial challenges and how being open to learning and choosing joint venture partners who have specific expertise can help you to achieve great things in new and exciting areas.

If you have a mindset based on taking action then this episode that will inspire you.

KEY TAKEAWAYS

• Having attended the deal packaging course at Progressive Property and knowing South Wales well I knew this was the best area for me to begin sourcing properties.

What were the initial challenges?

• Initially it was having the confidence to speak to agents, the first few visits  were daunting. I came to terms with this through recognising they are only people, like myself and if I didn’t talk to them I wasn’t going to get any response.• It took time to work out what type of property I was looking for but as I gained focus and was able to articulate clearly what I wanted my confidence increased.

How did you find your first investors?

• When I began I documented what I was doing online using Facebook sharing why I was investing in particular areas.• I updated on a daily basis and was then contacted by potential investors who had been following what I was doing.• Through networking, I was asked to make a presentation to potential investors in Holland. This has led to both investors and joint venture property purchases in Wales.• The relationships built with agents brought the opportunity to look at a block of apartments.• I presented a different deal to the owner which was initially rejected but being persistent and communicating enabled the owner to view the project in a different way with positive outcomes for all involved.• It vital to be honest and transparent, the purchase of a 2-bed apartment for serviced accommodation led to leasing, developing and managing a 61-bed hotel with restaurant.• When moving into a new and different investment opportunities I have been able to use the property network to support me with advice and expertise.• You don’t necessarily have to have direct experience in the field, you can bring in joint venture partners who do.• We have built a business with around 180 investors which means at any one time there are on average 11 - 15 who are actively seeking a deal.• The target is an income of £250,000 per month which we are hoping to achieve by the end of the year.• Deal packaging is special because it can lead you to so many other things.

BEST MOMENTS

‘I learnt lots of information on the course, how to find properties, how to find gold mine areas and then ran with it’

‘I particularly enjoy mentoring and being part of the mastermind and progressive community’

‘If you don’t ask the questions and tell people what you are doing you will never know what they might have to offer you’

VALUABLE RESOURCES

Property Sourcing Profits Podcast

https://www.progressiveproperty.co.uk/

https://unlimited-success.co.uk/

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

David is a property expert with over 25 years’ experience and his own portfolio of 26 units. His current rent roll is in excess of £10k per month. He is also a partner in a Deal Sourcing and Packaging business in the North West of England and has sourced over 250 properties for investors since 2004.

In recent years he has, by necessity, had to develop an expertise in LHA strategies. This area is increasingly becoming a niche for him, and he enjoys empowering other landlords by sharing the knowledge he has gained.

The ultimate purpose when sourcing properties in this sector for investors is to minimise risk while maximising profit. He has had to find answers to the challenges of Tenant Find, Management, ensuring rents are paid and the transition to Universal Credit. These are strategies he uses in his own business and also on behalf of investors. His investor clients regularly achieve annual gross yields of over 20% with high occupancy rates and voids resolved, sometimes within hours.

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

https://www.facebook.com/DavidSieglerInvestments/  

When you meet a potential investor for the first time as a property sourcer What do you say?

In this episode, David is responding to a question from one of his mentees about hoe to successful navigate the initial meeting with a potential client.

David provides invaluable detailed advice based on his extensive experience as a Property Sourcer, so tune in to find the answers that will ensure your initial meeting with a potential investor will be successful.

KEY TAKEAWAYS

• For clients 1 to 10 make sure you have practised, beyond this you will no longer need to.
• When you make contact with someone who might be interested arrange a meeting making sure you offer them options around time and dates.
• We are all busy and if a potential investor has given up their time in a working day then they are interested.
• You know that they are there for a reason, they have a problem and you may be able to help.
• The number one question on your script must be ‘how can I help’ you must then remain quiet until there is a response, you must listen.
• The meeting is about them not about you.
• This is a fact-finding mission and you need to find out all the information you can.
• The purpose of this initial conversation is for you the deal packager to find out what they want and if you can help them.
• You should take them on the journey explaining what you do as a property sourcer and use this point as the opportunity to explain your fee structure and what you charge for your services.
• It's important that you are able to convey how you can help them and that what you do is valuable to them.
• Explain that your professional relationship with them could potentially span many years.
• Dependant on how the initial meeting progresses will determine whether you decide to discuss specifics.
• A second meeting can be useful and if you are a new property sourcer showing potential investors what you are proposing and viewing potential investment opportunities on the  ‘geographical patch’ can help build a professional relationship and trust.

BEST MOMENTS

‘You need to paint the picture of what you  can achieve for the investor’

‘You can take it from the worst house in the street cosmetically to the best house in the street cosmetically’

‘What are they trying to achieve and what do they need’

VALUABLE RESOURCES

Property Sourcing Profits Podcast

https://www.progressiveproperty.co.uk/

https://unlimited-success.co.uk/

https://www.facebook.com/groups/progressivepropertycommunity/

ABOUT THE HOST

David is a property expert with over 25 years’ experience and his own portfolio of 26 units. His current rent roll is in excess of £10k per month. He is also a partner in a Deal Sourcing and Packaging business in the North West of England and has sourced over 250 properties for investors since 2004.

In recent years he has, by necessity, had to develop an expertise in LHA strategies. This area is increasingly becoming a niche for him, and he enjoys empowering other landlords by sharing the knowledge he has gained.

The ultimate purpose when sourcing properties in this sector for investors is to minimise risk while maximising profit. He has had to find answers to the challenges of Tenant Find, Management, ensuring rents are paid and the transition to Universal Credit. These are strategies he uses in his own business and also on behalf of investors. His investor clients regularly achieve annual gross yields of over 20% with high occupancy rates and voids resolved, sometimes within hours.

CONTACT METHOD

https://www.linkedin.com/in/david-siegler-7b126316/

https://www.facebook.com/DavidSieglerInvestments/