Property Sourcing Profits

The next four weeks could change your life. The truth about December is that everything stops and things slow down. Solicitors shut down, Estate Agents aren't doing viewings, it’s the time of the year that you can really leverage to build your business, build relationships and discover your local goldmine area.

In today’s episode, David shares with you why this time of year is crucial to your success in property and packaging deals. He explains how to use the December slump to your advantage and gives you the scripts to use to build rapport with your local estate agent.

If you want to work with David, contact him using the links below:

KEY TAKEAWAYS

• There is a shortage of stock in the market, a lack of houses available to be packaged up and sold on. This is generally down to the state of the market. Vendors are uncertain and unsure what’s happening with property prices. In 2019 if the political uncertainty continues, property prices are going to dip. This is a great opportunity for you because you will be buying at down-turning property prices. This is why the next 4-weeks are crucial to your success in property, estate agents are not busy during this period, this is your chance to get in there and build a relationship with your local estate agent and share your story.
• Moving forward you want to be using property strategies that maximise the yield of your properties. Your investors will be happy if you’re buying in the downturn because that’s where the money can be made. By 2030 property prices are going to be a lot higher than they are today. So you secure a deal and you find one that one the the property strategies fits so not only will the investor sell the property for more in the future they will make a profit while the value increases.
  
  

BEST MOMENTS

“Prices in London and the South has stalled.”

“People are sitting back and waiting to see what happens.”

“Can you add value to the investor by souring multi-let properties? Check if there is an Article 4 is a planning issue because some HMO’s have changed the proliferation of some streets in the UK.”

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 today’s episode of Property Sourcing Profits, David discusses two types of people, two types of friends who want to get into the world of deal packaging and the 12 tasks you need to do, to get your deal packaging business up and running. Hop on to this episode to learn and find out more.

KEY TAKEAWAYS

• The two types of people, two types of friends who want to get into the world of deal packaging.

• Welcome on new people to deal-packaging. Those haven't started yet who maybe got plans in 2019 to move their business to the next level. Packaging is the vehicle they're going to use to propel themselves into the world of property.

• Those of you who may have already started the journey, but you faulted. You paused. You didn't do what we told you to do.

• 12 tasks to get your deal packaging business up and running.

• Business cards. It's a tool of your business; it is not just an extravagance that nobody ever going to read and stuff like that. It's a tool, if you're going networking, if you're going to meet potential investors face to face you need to have a business card.

• Get yourself a folio. Get a presenter pack, because you're going to have to present your deals to your investors.

• Network meetings. Networking is the key.

• Trading profile. How are you going to trade yourself? If it's the first time you set up your own business or your own company, then you've got a choice probably, but talk to your accountant. How are you going to trade, you need to think about that.

• Compliance. Deal packages we are considered under the estate agents act 1988 as estate agents we are regulated that we have to comply. Compliance is very, very important.

• Marketing. If you want your business to always be at the top of the game, you have to know how to market your product in the right manner.

• Estate agents.

• Director vendor marketing. Just get yourself into local buy and sell groups local to where you want your property, your property hotspot is. Position yourself, give content, help people, and build your profile that people will want to connect with.

• Leaflets. Leaflets do work, post the leaflets in the area you want the property regularly but not many of them. Do that for months, like five months.

• Direct vendor letters. Send letters to houses that been on the market for a long time.

• Investors. Start promoting yourself online.

BEST MOMENTS

• “Networking is the key.”
• “Compliance is very, very important.”
• “Marketing is huge for you and your business.”

VALUABLE RESOURCES

• Airbnb
• Facebook

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 today’s episode of Property Sourcing Profits, David discusses making the lowball offer to secure your deals. How do you make a low ball offer without ruining the relationship you have with the estate agent? David gives you a helpful script that he uses in this type of situation.

KEY TAKEAWAYS
• Lowball Offer. This is a very powerful strategy. You need it in your criteria. How do you summon up the nerve to make a really low ball offer? What is the right number? What is the number that you can put forward in good faith maintain your relationship with the estate agent and serve your investor too so that you get paid.

• Gross Yield. This is a concept that everyone in property understands and should understand. The total gross rent roll. The total gross rental. No deductions. The gross rent that is achievable for that property. You divide the gross rent by the cost of the acquisition. So that's the cost of the property, the price that you pay and all the transactional costs associated with the purchase.
• Reverse Engineering. This is what David uses when he wants to make a low ball offer.
• Brexit. This is having an effect on the property market. This is not a political point. This is about real-world property stuff. There is a pause. Investors are holding back. There is uncertainty. They don’t know what is going to happen. But you can use this to your advantage in your negotiation. Remember that Brexit is your friend.
• Justify your offers. The important word in making a low ball offer is justification.  You got to be able to justify your offer. If you can justify your offer to yourself and to the estate agent, then there is no need to be embarrassed about it because you are a property professional. The estate agent knows you're going to be looking for a discount if you looking for a significant discount and all you got to do is justify it.
  
  BEST MOMENTS

“Deal packaging. This is about people and arithmetic.”

“You gotta try and get towards double-digit growth you 10%.”

“I believe this with volition is that the most houses that you will see in the shop window will not achieve 100% the offer price. They won’t.”
“They may accept it. They may not accept it. But here's the thing, you have justified the offer you have.”

“Use every tool that you have available when speaking to estate agents to get the discount in the deal for your investors. The more you can say for your investor the more impressed they will be, the more professional they think you are. However, you can't just walk into the estate agent who you also need an existing relationship with and just make a low ball offer on top of lowball offer with no justification.”

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 today’s episode, David dares to share his views on the B word. BREXIT. What it means for property investors and how you can use it to your advantage. Discover the reasons behind the property markets booms and busts. The trigger point of downturns and the circumstances of property rises. Tune in today to hear the lessons David has learned through his decades of experience investing in property, in a variety of economic climates.

KEY TAKEAWAYS

• In 1974 was a property crash. House prices were booming and they had to go down. But what was the trigger? David believes it was the rise in oil prices that caused the market to crash. But by 1981 property prices had boomed higher than even the peak before the crash in 74. Yet they were set to crash again, but this time a different trigger. Probably the political economy enforced by the Thatcher government at the time.
• From 1981 - 1991 the property market soared with prices booming for a decade. Until another economy driven downturn in prices. At this time the UK was in the ERM (the forerunner of the euro) and at the point of leaving, UK interest rates were at 30%.
• In 1996 the buy-to-let mortgage was born. We could now go out and buy investment properties for roughly £25,000 which today would be worth £100,000 - £130,000. Property prices continued to rise and rise until 2008 when it changed again and there was a turn in the market. Economically the 2008 crash was inevitable. But what triggered it? The point is we don’t necessarily know and ever since the prices have continued to grow steadily until today.
• To serve our investors we must know the market and we know that the underlying principles of property prices are the same. It will either go up, or go down. Are we investing for cashflow? Or for capital growth? Over the last 10 investors have generally been investing for cashflow. Adding value to properties with strategies such as multi-lets and serviced accommodation.
  
  

BEST MOMENTS

“There will be a crash in property prices and then a boom. The boom will see prices rise higher than they were when they crashed.”

“The average inflation rate during the Thatcher period was 9.9% an unthinkable amount in today’s economy.”

“The cycle always moves on, it zigs and zags.”

“The property market ebbs and flows, it goes up and it goes down.”

“We have been working in a rising marketing for the last 10 years. We do know that property prices will fall, but we don’t know when”

“Serviced Accommodation produces multi-let returns on a single-let property.”

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

Welcome back to the Property Sourcing Profits Podcast. In this episode, David shares with you the lessons learnt from a coaching call with one of his deal packaging mentees. Discover the simple things we need to be doing to achieve success in property and how you too can start your own property sourcing business, just by building good relationships with the people around you.

Deal packaging is a people business. You need to form relationships with estate agents, solicitors, mentors and other property people. By building your power team and leveraging their skills and experience you will be a success.

KEY TAKEAWAYS

What we do is not difficult - Being a property investor and deal sourcer is not difficult. All we need to do is view properties and not over complicate it. We also need to build relationships, with our investors and our local estate agents, it’s not hard. Simply position yourself as a serious, professional and trustworthy investor.

Build relationships in all areas of your deal packaging business. You can do this at networking events and property meet-ups. The need for this is to leverage their expertise, leverage their experience and ultimately build your power team. These are the people that you will need around you to be successful.

BEST MOMENTS

It doesn’t matter what your strategy is, there are overriding issues in our property businesses that we need to deal with.

Estate agents are there to sell property. They want to work with professionals and people they can trust. You just need to put yourself in that space.

Even if you don’t have an investor for a certain deal, the estate agent will hold it back for you if you have a great relationship with them.

When building relationships you need to follow up with people and seek their help. The money is in the follow-up.

Get yourself a mentor and leverage their experience so that you can learn from their mistakes.

Find the people that can help you on your journey and build relationships with them so that they can help you on another level.

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

Welcome back to the Property Sourcing Profits Podcast. In today’s episode, David shows you how to get started in property, begin sourcing deals, selling deals and getting paid. David goes on share a real life case study of an up and coming deal packager, out there looking at deals.

Discover what you need to do to get started and the returns you need to target in order to begin making a career out of property sourcing.  If you’re looking to secure property sourcing profits and learn how to calculate your investor ROI on the stop, this episode if for you.

KEY TAKEAWAYS

• Whilst you’re establishing your trade and scoping out your business, your goldmine area might not be the best place to start. You need to go where there is a low threshold cost of entry so that you can practice your skills and hone in on your techniques.
  
  

BEST MOMENTS
“The purpose of this was to get experience in property sourcing and to test his systems and processes when sourcing property deals. “

“Remember we don’t always know who the investor who purchases our deals is, so we need to make sure the deal is attractive.”

“9% is an attractive deal for an investor. You will sell that deal.”

”Get the investor through the door on and create a cashflowing asset that grosses at 9-10%”

“You don’t need a detailed deal analysis, you just need a pen, paper and calculator.”

“Gross rent roll for the year divided by the cost per purchase and express it as a percentage.”

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

Welcome to another edition of the Property Sourcing Profits Podcast. Today, David shares with you a personal experience about procrastination and how you too, can avoid the procrastination monster and get yourself out there and start getting deals.

What stops us succeeding isn't always our lack of knowledge or lack of resources. It's the fact we simply don't do it enough, we procrastinate and we let the procrastination monster win by giving us the excuses that hold us back from succeeding.

If you can defeat the procrastination monster you can achieve the freedom and the success that deal packaging can give you.

KEY TAKEAWAYS
Tips To Avoid Procrastination

1. It's too difficult - There are things in life that are hard, sitting in estate agents and building a network to secure great deals isn't. Deal packaging can be a great cash flowing strategy if you get out there and talk to people.

BEST MOMENTS

“Estate agents are your number one tool”

“Get yourself a coach, get yourself a mentor and get yourself out there”

VALUABLE RESOURCES

#016 How To Promote Your Business On Facebook

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 today's episode, David discusses how to build your brand through Facebook. Why Facebook? Facebook is where he got all of his property deals and you can too! Facebook is a very powerful tool. Brand building is the key to your success in property and in packaging deals.

Marketing is what we are. You are a marketer. And if you are going to have a good property business, you need to tell people what you do and how you do it. A few people dedicate enough time to marketing but people, property investors should know that marketing is the lifeblood of your business. And Facebook is a great tool to learn so you can be visible and secure the deals you deserve.

David shares with you what you need to learn about Facebook marketing and how to do it right. And the best bit,  this is all for free, unless you want to use Facebook Ads which will cost you. David talks about finding the money, finding the people to invest with you, or the deal packages out there, people who have got the money to buy your deals, and pay you a fee for sourcing it. Listen and learn.

KEY TAKEAWAYS
Facebook profile and Business Page. You have to have a Facebook account. Once you have a Facebook account, you will need to set up a Business page. This way, your personal and business life would be separate. Especially when your loved ones, maybe, does not want to see the business side of your Facebook account.

Business page. You can post all of your property stuff here. Your profile friends will not see it unless they like your page, and they want to get access to it. That a different thing. The other thing that a Facebook page gives you as opposed to your profile is the ability to advertise.

Facebook Ads. You can target your market. You can focus maybe on one street, town, zip code, etc. You know your area. You can target investors and deals alike.

Your story. Start talking about your story in property, if you have a property story, but if you haven't got a property story, talk about stuff you've done that is not in property. Talk about who you are, what you are, what your corporate background is, what your job history is, what your passions are, talk about your family. It's really really important that you position yourself as somebody who can do things for people.

Credibility. The purpose of getting your message out there is to build credibility in your Facebook marketing. Credibility is the absolute key.

Engagement. You have got to engage. You have to go on to the forums and start showing your face, talking about what you do, and encouraging others. Whatever it is that you do at the start, you have to engage. Join in a conversation in a forum. Be visible.

Profile picture. Your profile picture should be your face, not a picture of food or a horse. It doesn't show your character. Will it suggest about your character? Is this more to learn about your character? And you want to be up and transparent. Put your picture on your profile.

Contribute and add value. When you go on and join an existing conversation, you'll find the topic the topic that actually you got the experience of, that actually you've done, that actually you've lived through, that actually was a big problem for you and it took 12-18 months of your life to sort that out. Why don't you share... "Oh I had this in my life and I found that if you do x, y and z, it can make it a bit easier and can get you there quicker. But you know, it is a struggle I feel your pain. I wish you every success with this." You can do that. Whatever is it in your life that you think you can do, make sure that you do it.

Property groups and forums. There are a lot of Facebook groups out there that you can join. Try joining 3 to 6 groups. Just try to check the feel of the group, if you don't like it then leave. See if it is fit for you, if they are encouraging, etc. If you do this for the next 4 to 6 weeks, you can build up a hard core of maybe five or 6 supportive groups where you are recognized and are comfortable with.
Build your own content. Little microblogs are really helpful. It will build over time. if you do not know what to post, try telling your story, your journey. Start diarizing your journey. So, from day 1, take a picture and tell a story about it.

Video. This is the best way to reach more people. People with successful businesses use video. The reason they do it is that it gives you more reach and more engagement, which is what you need. Practice shooting a video with your Smartphone or iPhone. It doesn't have to be perfect, but it should be enough to be posted. Just practice. Practice makes perfect.

Interviews. Interview people who 2-3 steps ahead of you in the journey. Talk to somebody who has done a few deals. What's the secret? People will want to know that. It is a great way for you to get penetration into the market. It should be a Landscape video. You can invest in a tripod holder so the video won't move and it would be at eye level. Other content can be a reaction to the news. Newsjacking. There is so much news out there. There is always something in the news that people will want to know about that can you can create content.

Crowdsourcing. Get people's opinion. For instance, I picked a new logo for my business, what do you think? Should it be number 1, should it be number 2, should it be number 3? Colours? Go out and ask people what they think, and they will engage with you.

Poll survey. Start a poll. Set up a poll. I have a list of this and this, which is your favourite? So people can vote. It builds engagement. Use as many tools and mediums as possible.

BEST MOMENTS
"I don't need many people. You don't need many people to come and buy your deals."
"But marketing is the key. Facebook is the tool. You have got that facility now. If you haven't got a Facebook profile, set one up. You need to be on Facebook."
"Just start talking about your story, who you are. Property is a people business. Property is about people. So, you have to establish yourself as the go-to guy, the go-to girl in property to attract investors to your course."
"If you go out there and do it if you are going out there looking for a deal, you will find the deal. So, diarize your journeys with a photo."
"Everything is virtually free."

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 today’s episode, David discusses how you too, can be in a win-win situation, when buying houses at auction. Being very experienced in the property industry and in auction houses, David shares us his secrets to success and what you need to know before an auction?

Find out, what to look into when buying in an auction? And what do you do when you talk to an auctioneer? There are a lot of things to know to master the art of buying and selling at auction and in today’s episode, David shows you exactly what to do.

KEY TAKEAWAYS

BEST MOMENTS
“Earn your margin but do not do any work and cut the time down to a tenth.”
“The thing is you have to leave a profit in the deal at the end.”
“Make sure you listen more than you speak.”
“I understand, Mr Auctioneer. You will have done some administrative work. You will have printed the catalogue and probably done some viewings. My property would be in the catalogue. You would have gone to my property but I can’t afford to pay you 2000 pound + VAT to pull my house out of the auction. I acknowledge you done some work. I think we need to amend that figure. In those circumstances, I'm happy to pay you 500 pound plus VAT at maximum. How do you feel? So if you try that, there’s a script for you.”

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