Property Sourcing Profits

Property Sourcing Profits

By David SieglerBusinessEducationInvesting
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Property Sourcing Profits episodes

  • Direct Marketing for Deal Packaging That Gets Results

    David is with Katy Wilson who has built a hugely successful Deal Packaging Business and is also a trainer in the Progressive Property Training Program.

    Katy and David discuss the importance of marketing and the most productive ways you can market in the current unusual climate.

    Direct marketing, if done properly, can generate great leads and Katy shares her direct mail marketing process in this episode packed with value. If you want to hear about a marketing system that can bring on average 22 leads from 200 letters then listen in now.

     

    KEY TAKEAWAYS

    • The golden nugget with direct mail is to personalise it as much as possible – the letters appear to be handwritten; this is achieved through software.
    • The key takeaway is to personalise the letters.
    • You want people to open the letter because they don’t know who it’s from.
    • It’s all about systemisation, research the specific area and detail about the property
    • The letter is completely different for each house through the use of mail merging
    • It’s about using the technology that’s available.
    • Every letter has a stamp on it, not business franking which is a clear indicator of direct mailing.
    • We target properties that have been on the market for over 90 days and those that have been reduced along with those sold subject to contract that have been relisted.
    • It’s about it being as personal as possible to that vendor

     

    BEST MOMENTS

    ‘Each one of my letters is personalised because I’ve done the research on my vendors’

    ‘My template letter is the amalgamation of all the best advice from the top property investors’

    ‘22 leads per month from 200 letters as an average will result in one deal per month’

     

    VALUABLE RESOURCES 

    Property Sourcing Profits Podcast

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

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

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

    Katy Wilson YouTube

    VentureWilson website

     

    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/  

     

    33 min
  • Activity. Don't Just Sit There Do Something

    David goes through the reasons why you need to stop procrastinating and get on with your deal packaging business.

    With ‘ Desktop Deal Packaging’ now available, David has been looking at what you can do now. He shares great advice on free resources that a motivated deal packager can be using now to build their business.

    Deal packaging is a people business and you can still reach out and build the relationships that make a difference, listen in, stop procrastinating and get started now.

     

    KEY TAKEAWAYS

    • I can’t start because – I don’t have a website, I don’t know what to charge, what about registering for VAT? Stop procrastinating and do something.
    • You can source investors and property now and get the tools in place that will make a difference.
    • Ring estate agents, some will have out of office messages but if you keep going someone will pick up and they could have the property you need.
    • Create a spreadsheet and start contacting landlords through the classifieds.
    • Get on the Facebook market place - there are properties being purchased, sold and rented. Look online and start scraping data.
    • Put a direct mail campaign together, if you do it properly direct mail campaigns work well.
    • This is a time where you can get the important tools in place to build up your deal packaging business.
    • If you don’t do anything you are not going to get any deals

     

    BEST MOMENTS

    ‘You need to get a deal before you can charge a fee so focus on getting the deal first’

    ‘It’s all about doing something now and being motivated’

    ‘You can get out there in the classifieds and it’s free’

     

    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/  

    36 min
  • Show Me The Money, Who is Lending Today?

    People are doing Property deals so David is sharing great information about lending, right now, in this time-sensitive episode packed with great content as we try to navigate our way through the unprecedented situation we are all in currently with a global pandemic.

    He discusses an article from ‘Mortgage Solutions’ and explains exactly what is currently going on with the products available, the criteria in place and why you really must work with a great broker. This is a snapshot of where we are today and what’s available right now, you can’t afford to not listen.

     

    KEY TAKEAWAYS

    • More than 85% of ‘buy to let’ lenders who were active before, remain in the market today although their criteria and products may be more restricted currently. Only 14% of those in the market previously have withdrawn from the market.
    • Access a knowledgeable broker who will be able to find the best deal for you they will know exactly who is doing what.
    • Lenders offering ‘buy to let’ tracker mortgages have fallen but you and your investors still have a choice with lenders.
    • Both first-time landlords and portfolio landlords still have many opportunities
    • Different lenders are de-risking against different kinds of landlord borrowing, some have limited their products whilst others are working with restrictions. But a good broker should be able to find you a competitive deal.
    • Lenders are now moving the valuation to the end of the process. Everything for the mortgage application will be completed before the valuation.
    • There is liquidity in the market, the money is there when things are ready to go. You can spend the time now, building your investor base and the relationships you have with estate agents.

     

    BEST MOMENTS

    ‘Some lenders withdrew temporarily but are now back in the market’

    ‘There are great brokers out there’

    ‘You and your investors still have a choice with lenders’

     

    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/  

     

    17 min
  • The Complete Package – Sourcing Through to Letting

    David is with his business ‘partner in crime’ Adam Seal Sourcing and Development Manager at Progressive Lets. They have worked together across multiple projects and discuss the relationship between investors and the letting agent and take us through the process from acquisition of a property through refurbishment to letting.

    It’s all about the relationships and processes and Adam has extensive expertise and experience developing both and shares some great advice that can be used effectively by anyone developing property for investors.

    This episode is a great insight into how working effectively together with trust and effective systems is the key to success for good property deals and investment.

     

    KEY TAKEAWAYS

    It’s good for investors to know everything is in the same place, a bricks and mortar office along with good systems and processes means everything runs smoothly.

    If you source a property, work out the numbers and have the right contacts for trades to carry out any work then you are in a position to offer something to an investor.

    We work with the investor to get them what they want and the numbers they are hoping for.

    Good numbers are about knowing the area. You will know what will be good and how a property will perform moving forward.

    Find out exactly what the client wants and how this can be achieved.

    Keeping a detailed database means you build valuable information about how properties have performed.

    When you are converting to an HMO its vital that there are detailed instructions for the builder, this saves both time and potential errors.

    With a good system in place, you can provide the builder with detailed drawings and a specific list of products to use. This ensures projects are on budget and on time meeting the expectations of the investor.

    It’s all about the people you are working with.

     

    BEST MOMENTS

    ‘It’s a massive plus being able to manage a property through to letting’

    ‘Each room has a room plan on the wall to make sure everyone knows exactly what is required’

    ‘I’d rather have too much paperwork than not enough’

     

    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/  

    51 min
  • Key Deal Packager Questions Answered

    This episode answers some of the key questions anyone new to deal packaging will be asking and is the outcome of a conversation David has been having with Trish – who is herself new to deal packaging.

    These are the real deal – as David answers her questions in this great episode packed with value.

    If you are starting out it can seem as if you have endless questions that need answers  -listen in and hear the real questions and the answers you need now to get moving and make your deal packaging a success.

     

    KEY TAKEAWAYS

    • To define your investor, you have to fact find and build a relationship  so you know exactly what they are looking for and why they want to work with you.
    • Build credibility with your investor and get face to face even if it’s virtually.
    • You have to know how much money they have to spend and the source of the cash.
    • If they want a deal they will go through the process of getting to know you. If you’ve done it right they should not pull out of the deal because there will be a relationship of trust.
    • In general terms deal packaging is trading, if you are going to set up a trading business doing this through a limited company is the accepted approach. Speak to your accountant
    • The SIC code – applies to a limited company and defines the activities of the company.
    • You will need professional indemnity insurance. Then join a property redress scheme either  TPO (the property ombudsman) or the PRS (property redress scheme)
    • Register online for the ICO. You will have people’s data so you need to look after it and be compliant with the requirements of GDPR. Register with HMRC for anti-laundering supervision

     

    BEST MOMENTS

    ‘Virtually all investors use mortgages at some point either before or after the initial purchase’

    ‘You have to come across as someone who knows their area’

    ‘There are just less experienced deal packagers and more experienced deal packagers’

     

    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/  

    33 min
  • What is going on NOW in my DP Business? You need to know!

    David has been getting in contact with other deal packagers and is sharing what the perspective is right now at a time when change is a daily part of all our lives.

    Many may have thought the property market would be at a standstill, paused completely as we all stay at home, but this is very far from what is actually happening.

    David explains what deal packagers, estate agents and investors are doing right now and although the volume is not there, there are investors out there who want to buy.

    Cash buyers are looking for discounts and it’s all about vendors coming to terms with how it is now and alongside this, some providers have reinstated their buy to let products, listen in and find out exactly how it’s all working and what you as a deal packager should be doing right now.

     

    KEY TAKEAWAYS

    • There are cash buyers out there and there are providers who have reinstated their buy to let products.
    • You can get a 75% loan to value but where is the value?
    • Either the vendor needs to reduce the price or the investor needs to put down a bigger deposit.
    • When the market returns it is likely that vendors will have a higher expectation of what their property is worth than an investor will want to pay.
    • Until vendors are prepared to accept the market is different and lower than it was before COVID19 then the market will remain slower.
    • The market will be driven by the low valuations of the banks.
    • At some point, people will have to move and investors are going to be able to pick up properties at good prices.
    • Estate agents are now reaching out to deal packagers because they need to sell houses and they know deal packagers have investors who are ready to purchase.

     

    BEST MOMENTS

    ‘Investors are ready with the money but they are being very private because they don’t want to be perceived as benefiting from the current situation’

    ‘The appetite of investors has simplified there is a focus on buy to let and single lets’

    ‘We are keeping close to our investors’

     

    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/  

    31 min
  • What is Property Worth Today? The Potential & Power of the Virtual Valuation for Deal Packagers

    In this huge time of change, there is lots of confusion in the property market and the question David is asking is ‘Can you value a property accurately without visiting it?

     

    With extensive expertise and experience as a deal packager David has a proven model but in with the challenges we now all face he explores how you can do a viewing virtually? and how a valuation can be successfully achieved virtually?

     

    Face to face business has stopped but this doesn’t mean you need to stop as a deal packager if you adapt and move in a different direction and this episode explains in detail how you can achieve this.

     

    KEY TAKEAWAYS

    • When sale and rent back was possible national property acquisition companies used photos from the vendor and local runners to provide information and always bought with a mortgage so there was a bank valuation.

    • All of these things together photos, mortgage valuer, local input along with a healthy discount meant there was no risk involved.

    • Today a video walkthrough completed by the vendor of any property is possible and use of the land registry to track sold prices in the locality and google research can provide enough information for a valuation.

    • House purchases whether residential or as an investment are still the biggest thing you are ever going to buy. I would never sell a house to an investor that they haven’t seen at some point. Although they are buying the arithmetic and the return on their capital they are still large purchases.

    • I’m going to try to do virtual viewings and virtual valuations initially with investors who I know are going to be looking for mortgages so I’m followed and back up by the bank’s valuer, virtually speaking. This could completely change how we as deal packers operate. We can do everything online so there is no reason why you can’t continue.

     

    BEST MOMENTS

    ‘I’ve previously been an advocate for always having a look, visiting the property’

    ‘We knew the vendor wasn’t going to show us the bits they didn’t want us to see’

    ‘I don’t think we are going to have a massive slump in the market’

    ‘We should factor in a pause in the market, this could be ‘V’ shaped with a downward turn now followed by a steep increase’

     

    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/  

    23 min
  • My COVID 19 episode

    How is Covid-19 affecting the UK property market? Will there be an enduring recession? According to our host David, it’s still too early tell what will happen. But it’s best that we are all prepared. Especially if you’re still paying for your mortgage, a landlord whose primary income comes from renting or you’re planning to buy property.

    In this episode of the Property Sourcing Profits Podcast, David suggests some safety measures you can do amid the global health crisis. He also talks about the various options and help there is out there for businesses.

    KEY TAKEAWAYS

    If you’re a landlord whose major income stream relies on the rent of your tenants, then you better plan. In such a crisis, where there are also layoffs happening, it’s best to find an alternative. What will happen if they aren’t able to pay? How do you afford your necessities and pay your other dues? Be prepared.
  • Contact your tenants and see how they are. If you already have non-paying tenants, ask for proof of their loss of employment. Be open-minded to some alternative payment plans if this is the case.
  • Report non-payments to lenders. They need to be informed if there will be a delay.
  • If you’re in the serviced accommodation or guest house hotel business, apply now for a grant to support your business.
  • Check if you can access the 12-month business rate holiday by emailing your local authority.
  • Also, the government has setup a coronavirus business interruption loan for those who will be vulnerable during this pandemic. Businesses can easily borrow loans with a 12-month interest period. Contact them.
  • BEST MOMENTS

    “It’s not a rent holiday. They’re not excused to not pay rent.”
  • “Minimise the damage.”
  • “You must try and pay your mortgages. You must not get in trouble with the banks.”
  • “People will want to buy property in the downturn.”
  • VALUABLE RESOURCES

    • http://british-business-bank.co.uk/ourpartners/coronavirus-business-interruption-loan-scheme-cbils/accredited-lenders/
    • Property Sourcing Profits Podcast
    • https://www.progressiveproperty.co.uk/
    • https://unlimited-success.co.uk/
    • https://www.facebook.com/groups/progressivepropertycommunity/
    • Get Into Property - by David Siegler - https://www.amazon.co.uk/dp/1909846589/ref=sr_1_6?keywords=David+Siegler&qid=1570019066&s=gateway&sr=8-6

    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/ 

    22 min
  • The Importance of Being a Landlord

    Many business owners, and especially property business owners, are feeling a growing sense of fear about the current issues in the world. 

    In a very timely episode for anyone in property who might be concerned about what comes next, David offers some tips and guidance on how to run your portfolio so that it works for you and everyone else during these troubled times.

    KEY TAKEAWAYS

    • We need to find a balance between our private business needs, and our public awareness. 
    • David’s awareness came when he realised that he is essentially serving a safe haven for families and tenants in his properties.
    • We need to remember that in times of crisis, it’s okay to think of yourself, and prioritise the things that you need.
    • The best way to protect yourself right now is adjust that mind-set. This will be over before you know it. When it’s gone, open up those shutters and get moving!
    • If you’re setting up a new tenancy these days then make sure you get a guarantor for each and every one of them.
    • People think that Section 8 notice can be served on a tenant when they are two months behind on their payments. But that’s not quite true. It can be served upon the second missed payment of rent, which may be much sooner.
    • When you attend a Section 8 hearing, it’s important that you make sure you know what your rental day rate is. 
    • Section 21 does not have a money order. You’ll get possession of your property, but not necessarily your money. 

    BEST MOMENTS

    ‘Sure, we all want to make money. I get it’

    ‘You only know the good times were good times when they’re finished’

    ‘You’ve got to be strong to give strong’

    ‘Why should the onus be on the landlord?’

    ‘You’ll know more about the Section 8 than the judge does’

    VALUABLE RESOURCES

    Property Sourcing Profits Podcast

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

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

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

    Get Into Property - by David Siegler - https://www.amazon.co.uk/dp/1909846589/ref=sr_1_6?keywords=David+Siegler&qid=1570019066&s=gateway&sr=8-6

     

    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/ 

    23 min
  • Just Send me Something. Why That is Not Enough

    Anyone who’s had any experience in deal packaging will know that the often-used statement from investors “Just send me something!” is never enough. It’s far too passive, and mostly ends up in a no-deal situation.

    With David’s help, and by following a few easy steps, you can turn “Just send me something” into a moneymaking deal for both of you. In this week’s show, he’ll tell you how…

    KEY TAKEAWAYS

    • When you meet people at networking events, there’s a tendency to say things you don’t necessarily mean. The key is to qualify these promises.
    • You need to gently find out from your investor a few kay facts that’ll help you to get on the right track:
      • What are their goals, dreams and aspirations?
      • What is their financial criteria?
      • Do they want to work with you? Will you pay me for my valuable service?
    • Use the compliance qualifications that we achieve in order to become a deal packager, to qualify your investor. Tell them that you are happy to send them a deal, but make mention of your compliance, and that you need some information in order to go ahead.
    • Ask for the following items before you proceed:
      • Proof of address (Utility bill or bank statement)
      • Picture ID (This can be seen at a subsequently arrange meeting, which can also solidify your relationship)
    • The act of setting small hurdles at the outset of your dealings, will also prove that your investor is serious, and that they don’t mind working to the beat of your drum.
    • Make sure that your investor has enough money to invest seriously, as your time is precious. A nest-egg might seem large to some investors, but it might not be enough to make a serious investment with.
    • The crucial final step in this initial process is to make it clear that you are providing a service, and that your fees for providing that service are acceptable.

    BEST MOMENTS

    ‘Of course you should go to networking events’

    ‘We’ve got to get you through that barrier, over that hurdle, over the pothole’

    ‘You have to know what people want before you go out and look for deals for them’

    ’Are you prepared to pay me for me to go out and source you a fantastic deal?'

     
    VALUABLE RESOURCES

    Property Sourcing Profits Podcast

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

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

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

    Get Into Property - by David Siegler - https://www.amazon.co.uk/dp/1909846589/ref=sr_1_6?keywords=David+Siegler&qid=1570019066&s=gateway&sr=8-6

    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/ 

    16 min

About Property Sourcing Profits

From the publisher's feed

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…

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