In this 50th episode of the Deals Deals Deals Blueprint Podcast, our host Mark Barrett welcomes Mark Jones and Meena Kanagavel, winners of the Property Entrepreneur Advanced Deal of the Year Award, to explore how they scaled from doing an HMO conversion and office conversion to a 9-unit development and delivering an award winning 23-unit scheme.
This episode gently touches on the tragic loss of Mark's son Luke just before his 23rd birthday and the reason for their mission to deliver a 23-unit scheme in his memory.
We look at their corporate backgrounds and the transferable skills that allowed them to be able to do a 9-unit new build scheme and the 23-unit scheme in Luke's memory.
Listen to the actual numbers, how they missed out on a deal which was a blessing, to sourcing the two sites, joint venture structures, their Top Three Tips and the metrics they now use to secure sites.
Since joining Property Entrepreneur in 2023, Mark and Meena are now on the PE Advanced program and have also spent the last two years in Josh Keegan's mastermind group, accelerating their growth into larger-scale developments.
Deal Breakdown (With £ Per Unit)
9-Unit Scheme
Purchase Price: £250,000 (£27,778 per unit)
Development Costs: £2,200,000 (£244,444 per unit)
Finance Costs: £770,000 (£85,556 per unit)
Total Project Cost: £3,200,000 (£355,556 per unit)
GDV: £4,055,000 (£450,556 per unit)
Profit: £855,000 (£95,000 per unit)
23-Unit Scheme (Deal of the Year)
Purchase Price: £1,100,000 (£47,826 per unit)
Development Costs: £4,300,000 (£186,957 per unit)
Finance Costs: £880,000 (£38,261 per unit)
Total Project Cost: £6,280,000 (£273,043 per unit)
GDV: £7,450,000 (£323,913 per unit)
Gross Profit: £1,170,000 (£50,870 per unit)
Combined Figures (Across Both Deals)
Total Units Delivered: 32 units
Purchase Price: £1,350,000 (£42,188 per unit)
Development Costs: £6,500,000 (£203,125 per unit)
Finance Costs: £1,650,000 (£51,563 per unit)
Total Project Cost: £9,480,000 (£296,250 per unit)
Total GDV: £11,505,000 (£359,531 per unit)
Total Profit
Combined Profit: £2,025,000 (£63,281 per unit)
About the Host
Mark Barrett – Founder of The HMO Agent
Helping landlords and investors build profitable, hands-free portfolios through:
www.thehmoagent.com
📩 Contact Details – Mark Jones & Meena Kanagavel
🌐 https://linktr.ee/yournewhomemms
📸 https://www.instagram.com/yournewhome_uk
📧 [email protected]
💼 https://www.linkedin.com/in/your-new-home-uk/
🌍 https://yournewhome.org.uk/
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