The Scottish Property Podcast

Could a self-employed estate agent build a six-figure business without sacrificing the personal service sellers expect?

Fraser Kelly, founder of Kelly Residential, joins Nick and Steven to explain how he moved from corporate sales and property sourcing into estate agency. In five years, the business has grown to an 11-person team with five self-employed agents and six operations staff, while becoming one of the West of Scotland’s busiest offices for new instructions.

Fraser breaks down the numbers behind the model, including monthly costs, commission splits and how agents can generate more than £100,000 in annual revenue. He also shares his view of the Scottish sales market, why some homes are being overvalued, the risks facing Glasgow city-centre flats and what it really takes to succeed in self-employed estate agency.

EPISODE HIGHLIGHTS

• Why Fraser left corporate sales and moved from property sourcing into estate agency

• How Kelly Residential grew to five self-employed agents and six operations staff

• The difference between a personal estate agent and the traditional corporate model

• Why overvaluing a home can leave it sitting on the market for months

• A Clarkston bungalow that sold for £140,000 above its Home Report

• Why new-build incentives make some nearly new homes harder to resell

• How factor fees and cladding issues are affecting Glasgow city-centre flats

• The skills Fraser believes matter more than previous estate-agency experience

• How some agents are generating more than £100,000 a year in revenue

• Why new agents should consider holding six months of savings

• The £350 monthly cost and 50/50-to-75/25 commission structure

• Why Kelly Residential’s average fee is around £2,200

• The discipline and long hours required to make self-employment work

• How Google reviews, social media and AI are changing property marketing

CHAPTERS

00:00 - Meet Fraser Kelly

00:46 - Viral AI property videos and online backlash

03:11 - Why US and Australian estate agents spend more on marketing

03:55 - From corporate sales to property sourcing

05:22 - Moving into self-employed estate agency

08:04 - Why the UK estate-agency model is different

10:33 - Prime Property Auctions

11:58 - Building Kelly Residential

15:05 - Personal service versus the corporate model

20:20 - Scaling without losing service

23:20 - What is happening in the Scottish sales market?

25:19 - Managing sellers’ Home Report expectations

31:07 - A bungalow sold £140,000 above its Home Report

34:10 - The properties struggling to sell

35:30 - Glasgow flats, factor fees and cladding

38:12 - What makes a successful self-employed estate agent?

42:06 - How the Kelly Residential model works

43:16 - How agents can generate £100,000 a year

45:20 - How much savings should a new agent have?

49:07 - Growing from a local office across Scotland

50:47 - Why Fraser is moving into lettings

55:12 - Monthly costs and commission splits

57:16 - Estate-agent fees and the race to the bottom

01:03:10 - The discipline needed to succeed

01:05:16 - Where to connect with Fraser

CONNECT WITH FRASER

Facebook: https://www.facebook.com/FraserKellyResidential

LinkedIn: https://www.linkedin.com/in/fraserkellyresidential/

NETWORKING EVENTS

First Wednesday of every month

📍 Aberdeen | Dundee | Edinburgh | Glasgow

View upcoming speakers and book your ticket:

👉https://scottishpropertypodcast.co.uk/events/

SPONSORED BY

Prime Property Auctions — know someone selling a property? You could earn £1,500 just for making an introduction. John and Luis handle everything from the first call to the sale. Over £350,000 in referral fees paid out so far.

👉 https://primepropertyauctions.co.uk/

🔔 Subscribe so you never miss an episode

👍 Like the video if you found it valuable

💬 Would you leave a salaried role to build your own estate-agency business? Let us know in the comments 👇

From 6 October 2026, private and social landlords across Scotland must follow strict new timescales when damp or mould is reported: investigate within 10 working days, provide written findings within three working days and begin any required repairs within five working days of the investigation.

Paul Newing of PRN Water Services joins Nick and Steven to explain Scotland’s implementation of Awaab’s Law and what landlords and letting agents need to do to prepare. They discuss when the clock starts, who can carry out an investigation, what evidence should be retained and why landlords can no longer dismiss a complaint as “tenant lifestyle” without investigating it properly.

They also examine condensation, penetrating damp and rising damp; ventilation and extractor-fan problems; four-week humidity monitoring; treating mould correctly; repeat complaints; and the complications caused by communal repairs and property factors.

EPISODE HIGHLIGHTS
• The new duties affecting private and social landlords from 6 October 2026
• The tragedy behind Awaab’s Law and why Scotland introduced its own regulations
• The 10-working-day deadline for investigating reported damp and mould
• Providing a written summary within three working days
• Beginning required repairs within five working days of the investigation
• Why landlords cannot immediately blame a tenant’s lifestyle
• How normal living, cooking and drying clothes increase indoor moisture
• Condensation versus penetrating damp and rising damp
• What landlords should check with windows, vents and extractor fans
• Using four weeks of humidity and dew-point data to establish the cause
• Why photographs, emails, reports and a clear paper trail are essential
• What “commencing repairs” means when parts or contractors are unavailable
• How to clean, treat and redecorate mould-affected areas properly
• When recurring problems may not require a complete new investigation
• How communal roofs, gutters and factors complicate landlord compliance

CONNECT WITH PAUL
Paul Newing — Managing Director, PRN Water Services
Website: https://www.prnwaterservices.com/

OFFICIAL GUIDANCE
Scottish Government: https://www.gov.scot/policies/private-renting/housing-standards/

NETWORKING EVENTS
First Wednesday of every month
📍 Aberdeen | Dundee | Edinburgh | Glasgow
View upcoming speakers and book your ticket:
👉 https://scottishpropertypodcast.co.uk/events/

SPONSORED BY

Prime Property Auctions — know someone selling a property? You could earn £1,500 just for making an introduction. John and Luis handle everything from the first call to the sale. Over £350,000 in referral fees paid out so far.

👉 https://primepropertyauctions.co.uk/

🔔 Subscribe so you never miss an episode
👍 Like the video if you found it valuable
💬 Are Scottish landlords ready to meet these new damp and mould deadlines? Let us know in the comments 👇

This episode is for general information only and does not constitute legal advice.

Jordan Kynoch started investing in property at just 23, with no money, no experience and a long-term goal: to build enough freedom to be fully present when he eventually became a father.

Thirteen years later, Jordan owns more than 30 properties across Scotland and Liverpool. The journey involved countless hours on the road, sleeping on building-site floors and using private investment to fund every property purchase—but that hard work now allows him to spend almost every day with his new son.

In this episode, Jordan shares the numbers behind his portfolio purchases and property flips, including a six-title deal bought for £192,500 and a derelict house that generated approximately £80,000 in pre-tax profit. He also explains why he is selling some Liverpool HMOs, how he manages projects across different locations and why straightforward buy-to-lets still form the foundation of his portfolio.

EPISODE HIGHLIGHTS
• Starting in property at 23 with no money or experience
• Why becoming a present father was one of Jordan’s original goals
• The years spent travelling and sleeping on building-site floors
• Building a portfolio of more than 30 properties across Scotland and Liverpool
• Why Article 4 restrictions increased the value of his existing Liverpool HMOs
• The reasoning behind selling profitable HMOs and reinvesting the capital elsewhere
• Why Jordan still believes straightforward buy-to-lets work
• Finding off-market opportunities through owners, neighbours and existing contacts
• Buying six titles in Forfar for £192,500 after negotiating almost £50,000 off the asking price
• Spending approximately £70,000 on the refurbishment and producing around £1,800 in monthly cash flow
• How changing the layouts added bedrooms and increased the value of the flats
• Managing projects remotely using trusted building teams in each investment area
• The derelict Errol house bought for £153,000 and refurbished for approximately £70,000
• Why Jordan marketed the property immediately before Christmas despite agents advising him to wait
• Making approximately £80,000 in pre-tax profit from the six-month project
• How Jordan has funded every property purchase using private investors
• Why he repays investors at the end of each project instead of continually rolling their money forward
• Turning investors away when their requested return makes the deal unworkable
• Why smaller, repeatable projects can produce better results than stressful large developments
• Building The Style & Staging Co as an additional income stream
• Using property staging to help developers, estate agents and homeowners sell
• How becoming a father changed Jordan’s priorities and attitude towards business
• His plans to acquire more portfolios and complete one or two property flips each year

CONNECT WITH JORDAN
Instagram: @the_style_and_staging_co

NETWORKING EVENTS
First Wednesday of every month
📍 Aberdeen | Dundee | Edinburgh | Glasgow
View upcoming speakers and book your ticket:
👉 https://scottishpropertypodcast.co.uk/events/

SPONSORED BY

Prime Property Auctions — know someone selling a property? You could earn £1,500 just for making an introduction. John and Luis handle everything from the first call to the sale. Over £350,000 in referral fees paid out so far.

👉 https://primepropertyauctions.co.uk/

🔔 Subscribe so you never miss an episode
👍 Like the video if you found it valuable
💬 How much would you sacrifice today to create greater freedom for your family in the future? Let us know in the comments 👇

Are property flips still worth pursuing in 2026—or have rising costs and tighter margins made the strategy too difficult?

In this listener Q&A episode, Nick and Steven examine the reality of flipping property in today’s market. With Scotland’s 8% Additional Dwelling Supplement, higher material prices, increased trade rates, bridging costs and tax on the eventual profit, investors now need to buy at a much deeper discount and control every expense carefully.

They explain why straightforward, lower-value flips have become harder to find, while assisted sales, profit-share partnerships with builders, larger renovation projects and properties with potential for layout changes can still produce opportunities. They also answer listeners’ questions about sourcing fees, legal costs, purchasing portfolios, transferring letting agents and business banking.

EPISODE HIGHLIGHTS

• How a previous SPP episode helped a listener reduce his maximum auction bid from £80,000 to £71,000

• Why construction insolvencies and rising trade costs matter to property investors

• How the 8% ADS, materials, labour and finance costs are squeezing flip margins

• Why managing individual trades may be necessary to make the figures work

• How assisted sales can reduce upfront costs and eliminate the ADS

• Partnering with builders through profit-sharing arrangements

• Why bridging delays and collapsed sales can consume the expected profit

• Finding opportunities through architectural design and layout changes

• Why larger family homes requiring major renovation may face less competition

• Why the “low-hanging fruit” £70,000–£80,000 flips are becoming harder to find

• The tax investors must include when calculating their final return

• When a £5,000 or £25,000 portfolio sourcing fee could be justified

• What investors should expect from a £4,000 property sourcing service

• Typical legal costs and the additional charges buyers often overlook

• Why Nick and Steven use multiple business banks

• Due diligence when purchasing a portfolio with an existing letting agent

• Whether Nick should buy or rent his next office

CHAPTERS

00:00 - Listener Q&A and a property deal saved by due diligence

01:37 - Are property flips still viable in 2026?

02:10 - Construction insolvencies and rising trade costs

03:45 - Why flips have become more labour-intensive

04:53 - Assisted sales and profit-sharing with builders

05:46 - ADS, bridging finance and holding costs

07:13 - Finding creative opportunities in the flip market

09:14 - Are the easy property flips disappearing?

10:41 - The time, risk and rewards involved in flipping

11:32 - Tax and first-time-buyer flipping strategies

13:26 - What is a reasonable property sourcing fee?

14:17 - Typical sourcing fees and VAT

15:00 - What should investors receive for a £4,000 fee?

16:46 - Typical legal fees when buying property

17:30 - Business banking and spreading financial risk

19:29 - Buying a portfolio with an existing letting agent

24:30 - Nick’s search for a new office

26:17 - Buying commercial property versus renting

NETWORKING EVENTS

First Wednesday of every month

📍 Aberdeen | Dundee | Edinburgh | Glasgow

View upcoming speakers and book your ticket:

👉 https://scottishpropertypodcast.co.uk/events/

SPONSORED BY

Prime Property Auctions — know someone selling a property? You could earn £1,500 just for making an introduction. John and Luis handle everything from the first call to the sale. Over £350,000 in referral fees paid out so far.

👉 https://primepropertyauctions.co.uk/

🔔 Subscribe so you never miss an episode

👍 Like the video if you found it valuable

💬 Would you still take on a property flip in 2026, or choose a different investment strategy? Let us know in the comments 👇

Amy Russell has built a seven-figure property portfolio—but with her money continually being reinvested, she still describes herself as “skint”.

Her biggest cash-flow scare came from a sourced property bought for £62,500. The refurbishment was expected to cost approximately £20,000 but finished closer to £30,000, with little warning from the project manager. Amy then received an £85,000 valuation—despite the property having a Home Report value of £80,000 before the work began—leaving her needing to find additional money to exit the bridging loan.

Amy shares what she learned from the experience, how she built a portfolio of eight buy-to-lets and one serviced accommodation property, and why she may not purchase another standard buy-to-let. She also discusses property sourcing, guaranteed-rent contracts, her first planned flip and the reality of building assets without always having cash available.

EPISODE HIGHLIGHTS

• How Amy built a medical-device compliance consultancy before entering property

• Why she began investing as a long-term alternative to relying solely on a pension

• Buying her first Hamilton buy-to-let with cash in 2021

• Growing to eight buy-to-lets and one serviced accommodation property

• The sourced property bought for £62,500 against an £80,000 Home Report

• How a £20,000 refurbishment estimate increased to approximately £30,000

• Why poor communication from the project manager created a serious cash-flow problem

• Receiving two £85,000 valuations before successfully appealing to £90,000

• The additional bridging costs caused by the delayed refinance

• Why investors must independently check refurbishment estimates and comparable properties

• Amy’s Byres Road flat bought for £165,000 and later refinanced at approximately £220,000

• Her first planned flip: an £85,000 purchase with a £20,000 refurbishment and targeted value of £140,000–£150,000

• Transforming a heavily damaged South Queensferry property bought for £115,000

• Refinancing that property at £175,000 after spending approximately £30,000

• How a five-year guaranteed-rent contract provides around £1,700 per month

• The pressure tactics some property sourcers use to secure fees quickly

• Why the most expensive sourcing fees do not always come with the best deal packs

• Achieving strong direct bookings and approximately 70%–100% occupancy in serviced accommodation

• Buy-to-let versus serviced accommodation—and why Amy wants more cash flow

• Her ambition to attract private investment for larger commercial projects

CONNECT WITH AMY

Aims Property Group: https://aimspropertygroup.com/

LinkedIn: https://www.linkedin.com/in/amy-russellphd/

Instagram: @aims_property_group

TikTok: @aims.property.gro

NETWORKING EVENTS

First Wednesday of every month

📍 Aberdeen | Dundee | Edinburgh | Glasgow

https://scottishpropertypodcast.co.uk/events/

SPONSORED BY

Prime Property Auctions — know someone selling a property? You could earn £1,500 just for making an introduction. John and Luis handle everything from the first call to the sale. Over £350,000 in referral fees paid out so far.

👉 https://primepropertyauctions.co.uk/

🔔 Subscribe so you never miss an episode

👍 Like the video if you found it valuable

💬 Have you ever had a refurbishment or valuation go badly wrong? Let us know in the comments 👇

Scotland-wide rents have fallen slightly—but some local markets are still recording strong growth. So where is tenant demand holding up, and what should property investors take from the latest figures?

In this August market update, Nick and Steven examine the latest Citylets rental data and Zoopla house-price figures. They discuss why Glasgow’s one-bedroom flats are outperforming the wider market, how rents in Edinburgh, Aberdeen and Dundee compare, and why investors must research the specific area and property type rather than relying on national averages.

They also discuss England’s response to Scotland’s experience with rent controls, the importance of reinvesting in ageing rental properties and whether younger people should buy their own home first—or use that money to build an income-producing portfolio.

EPISODE HIGHLIGHTS

• Why England is reconsidering rent controls after Scotland’s experience

• Scotland-wide rents falling marginally by 0.2%

• Why demand for one-bedroom flats remains strong in Glasgow

• Average one-bedroom rents of approximately £912 in Glasgow and £1,095 in Edinburgh

• Why Aberdeen’s rental growth is now outperforming Glasgow and Edinburgh

• Dundee rents rising by approximately 2.7%

• South Lanarkshire recording 6.4% growth across all property types and 10.5% for one-bedroom homes

• Why national property data can hide significant differences between local markets

• The dated rental properties struggling to compete with refurbished homes

• Why landlords must budget for new kitchens, bathrooms, flooring and ongoing improvements

• Scotland’s house prices rising by approximately 2.8% over the year

• Why Aberdeen remains one of the UK’s few areas recording falling house prices

• Higher mortgage rates reducing buyers’ purchasing power

• Nick’s frustration with property sourcers who ignore clearly defined investor criteria

• Is your own home really an asset—or should younger investors build a portfolio first?

• How one investor built approximately £10,000 in monthly portfolio cash flow before buying his own home

CHAPTERS

00:00 - August market update and summer catch-up

08:27 - Rant of the month: finding suitable property deals

13:01 - Steven’s rant about business and life in the UK

17:37 - Property news and the summer slowdown

19:04 - Why England backed away from rent controls

22:41 - Scottish rents fall by 0.2%

23:22 - Why Glasgow’s one-bedroom flats are bucking the trend

25:36 - Rental growth in Aberdeen, Dundee and surrounding areas

27:14 - Why landlords must reinvest in their properties30:19 - Scotland’s house prices rise by 2.8%

32:12 - Buyer demand, property sales and mortgage affordability

34:11 - Is your own home an asset or a liability?

37:28 - Should you build a portfolio before buying a home?

NETWORKING EVENTS

First Wednesday of every month

📍 Aberdeen | Dundee | Edinburgh | Glasgow

Follow our socials for speakers and details

SPONSORED BY

Prime Property Auctions — know someone selling a property? You could earn £1,500 just for making an introduction. John and Luis handle everything from the first call to the sale. Over £350,000 in referral fees paid out so far.

👉 https://primepropertyauctions.co.uk/

🔔 Subscribe so you never miss an episode

👍 Like the video if you found it valuable

💬 Would you buy your own home first, or use the deposit to build a property portfolio? Let us know in the comments 👇

Michael Mower built his property career by taking on the projects other people avoided—from tired Glasgow flats to fire-damaged auction purchases. After years of running a stressful renovation business, he and his wife Liana decided to start building assets for themselves.

That change led to successful property flips, buy-to-lets and serviced accommodation. Michael shares the numbers behind a Glasgow flat bought for £39,000 and sold for approximately £85,000, as well as a Newtown Mearns home bought for £350,000 and sold for £650,000.

Now, Michael is converting a long-empty B-listed building on Callander Main Street into serviced accommodation, commercial space and offices. He talks Nick and Steven through the £100,000 purchase, estimated £250,000 refurbishment and targeted £630,000 end value. He also speaks openly about alcohol addiction, rehab and recovery.

EPISODE HIGHLIGHTS

• From plumbing apprentice to running a renovation company

• Why Michael and Liana stopped renovating for clients and began investing for themselves

• His first Glasgow flip: bought for £39,000 and sold for approximately £85,000

• Why their one-bedroom flips typically produced profits of around £35,000–£40,000

• The Newtown Mearns home bought for £350,000 and sold for £650,000

• Moving from flips into buy-to-let, auctions and serviced accommodation

• Michael’s honest experience of alcohol addiction, rehab and recovery

• Why his serviced accommodation can also work as long-term rental property

• Callander units listed at approximately £270 and £210 per night

• Transforming a B-listed building that had been empty for approximately 25–30 years

• The planned serviced accommodation, commercial and office spaces

• The £100,000 purchase, £250,000 refurbishment and targeted £630,000 end value

• How extensive dry rot affected the work and bridging-finance plans

CHAPTERS

00:00 - Meet Michael Mower

00:56 - Michael’s background and early life

04:58 - From plumbing apprentice to building contractor

09:23 - Leaving client renovations behind

11:40 - Flipping property in Glasgow’s south side

17:08 - The figures behind Michael’s flips

18:28 - Moving from flipping to holding property

20:11 - Launching a salon and renovating in Newtown Mearns

23:16 - Buying property at auction

25:46 - Alcohol addiction and the road to recovery

34:35 - Michael’s property portfolio today

35:25 - Moving into serviced accommodation

37:28 - Nightly rates for the Callander units

39:45 - The Callander aparthotel development

42:50 - The planned layout of the building

44:35 - Purchase price and due diligence

46:23 - Refurbishment costs and unexpected dry rot

48:23 - Funding the development

49:46 - The targeted £630,000 end value

50:58 - Local reaction and the planned opening

53:24 - What comes after the development

54:20 - Where to follow Michael

CONNECT WITH MICHAEL

Michael Mower — Built by Mike

YouTube: https://www.youtube.com/ ⁨@Built_By_Milke⁩ 

NETWORKING EVENTS

First Wednesday of every month

📍 Aberdeen | Dundee | Edinburgh | Glasgow

Follow our socials for speakers and details

SPONSORED BY

Prime Property Auctions — know someone selling a property? You could earn £1,500 just for making an introduction. John and Luis handle everything from the first call to the sale. Over £350,000 in referral fees paid out so far.

👉 https://primepropertyauctions.co.uk/

🔔 Subscribe so you never miss an episode

👍 Like the video if you found it valuable

💬 Would you take on a derelict B-listed building, or stick to smaller property projects? Let us know in the comments 👇

How can you scale a buy-to-let portfolio without leaving yourself dangerously exposed if the property market changes?

In this episode, Nick and Steven discuss the risks of using 80% and 85% loan-to-value mortgages to grow a property portfolio. They explain how arrangement fees, falling valuations and changes to lending criteria could leave highly leveraged investors needing to inject substantial amounts of cash when refinancing.

They also share practical ways to reduce risk, including investing in high-demand areas, maintaining cash reserves, stress-testing mortgage payments and using conservative end values. From researching comparable properties to calculating every purchase, renovation and holding cost, this episode explains the due diligence investors should carry out before committing to a deal.

TIMESTAMPS
00:00 - Scaling buy-to-let safely in a changing market
01:20 - The 18-year property cycle and crash predictions
03:53 - Why 80% and 85% LTV mortgages raise concerns
05:40 - How mortgage fees push leverage even higher
07:27 - The refinancing risk across a large portfolio
09:22 - BRR valuations and recovering all your money
11:23 - Negative equity and product-transfer risks
13:37 - Could investors become trapped on a 9% variable rate?
14:38 - Investing in high-demand rental areas
15:44 - Stress-testing, cash reserves and avoiding overleverage
17:53 - Why longer fixed-rate terms can reduce risk
18:31 - Due diligence and conservative end values
19:21 - Comparing properties accurately
21:08 - Testing current demand with listings and estate agents
22:22 - The landlord costs investors frequently overlook
23:23 - Jobs, regeneration and school performance
26:43 - Getting every deal number right
28:02 - Purchase costs and property holding costs
30:04 - Renovation budgets and choosing quality materials
31:40 - Calculating the property’s true rental cash flow

NETWORKING EVENTS
First Wednesday of every month
📍 Aberdeen | Dundee | Edinburgh | Glasgow
Follow our socials for speakers and details

SPONSORED BY

Prime Property Auctions — know someone selling a property? You could earn £1,500 just for making an introduction. John and Luis handle everything from the first call to the sale. Over £350,000 in referral fees paid out so far.

👉 https://primepropertyauctions.co.uk/

🔔 Subscribe so you never miss an episode
👍 Like the video if you found it valuable
💬 Would you use an 85% loan-to-value mortgage to scale faster, or keep more equity in each property? Let us know in the comments 👇

Is Scotland heading for a property crash—or does the country’s chronic shortage of homes make that unlikely?

Dr. John Boyle, Director of Research & Strategy at Rettie, joins Nick and Steven to examine the data behind Scotland’s housing emergency, house prices, rental growth and the future of the private rented sector.

From Aberdeen’s dramatic fall and the 18-year property cycle to landlord exits, rent controls, build-to-rent and student accommodation, Dr. John explains what the latest figures reveal—and why some commonly quoted property statistics can be misleading.

EPISODE HIGHLIGHTS

• What Scotland’s housing emergency actually means and why homelessness and temporary accommodation are increasing

• Why housing costs of approximately 25%–30% of gross income are generally considered affordable

• How annual housebuilding has fallen from around 25,000 homes before the financial crash to fewer than 20,000

• Why a new social home can now cost approximately £250,000–£300,000

• Why Scotland’s 2026 house-price growth forecast was revised from 3.5% to around 0%

• Why the Scottish market continues to average approximately 100,000 property transactions each year

• Why Dr. John does not believe the 18-year property cycle will produce a house-price crash in 2026

• Why a collapse in transactions can be more damaging to the property industry than falling prices

• How Aberdeen went from having higher average prices than Edinburgh to lower prices than Dundee

• Why Aberdeen prices remain down while property transactions are beginning to recover

• The risks of using short-term house-price figures to judge smaller towns and local markets

• Why landlord registration figures do not provide a reliable picture of landlords leaving the sector

• Why Dr. John describes the landlord exodus as a “trickle rather than a flood”

• How rent controls encouraged landlords to raise rents to market value between tenancies

• Why experienced landlords are now more likely to review and increase rents every year

• How the 8% Additional Dwelling Supplement affects new landlords while producing record tax revenue

• Why rent controls caused institutional build-to-rent investment in Scotland to stall

• How construction costs rising faster than rents have created a viability problem for build-to-rent

• Why purpose-built student accommodation can be more financially viable than standard rental developments

• Whether Glasgow could eventually face an oversupply of student accommodation

• How co-living developments could provide another housing option for young professionals

CHAPTERS

00:00 - Meet Dr. John Boyle

01:08 - Scotland’s housing emergency explained

04:04 - Why Scotland is not building enough homes

07:08 - The rising cost of social housing

10:55 - Scotland’s property-market outlook

14:32 - Will the 18-year property cycle cause a crash?

18:25 - What could trigger the next property crash?

21:39 - What happened to Aberdeen’s property market?

25:31 - Finding growth areas and interpreting property data

30:28 - Are landlords really leaving Scotland?

35:23 - How the 8% ADS is affecting investors

37:47 - Why rent controls caused rents to rise

40:11 - The future of rent-control zones

44:57 - Build-to-rent and institutional investment

53:03 - Why build-to-rent schemes are struggling

56:47 - Is Glasgow building too much student accommodation?

59:49 - Could co-living help address the housing shortage?

01:00:52 - Where to connect with Dr. John

CONNECT WITH DR. JOHN

Dr. John Boyle MRICS — Director of Research & Strategy at Rettie & Co

Website: https://www.rettie.co.uk/

NETWORKING EVENTS

First Wednesday of every month

📍 Aberdeen | Dundee | Edinburgh | GlasgowFollow our socials for speakers and details

SPONSORED BY

Prime Property Auctions — know someone selling a property? You could earn £1,500 just for making an introduction. John and Luis handle everything from the first call to the sale. Over £350,000 in referral fees paid out so far.

👉 https://primepropertyauctions.co.uk/

What would Nick and Steven do with £40,000 to invest—and would they choose a vanilla buy-to-let over stocks and shares?

In this listener Q&A episode, Nick reveals that he currently owns 12 buy-to-lets and is still aiming for a portfolio of 20 producing around £5,000 in net monthly cash flow. Steven explains why he focuses less on the number of properties he owns and more on cash flow, loan-to-value and paying down debt.

They also discuss how first-time buyers can use their position to get started, what makes a BRR deal stack up, how bridging finance works, whether 5.7% is a reasonable refinancing rate and how to find a trustworthy property sourcer.

EPISODE HIGHLIGHTS

• Nick’s goal of owning 20 buy-to-lets producing approximately £5,000 in net monthly cash flow

• Why Steven focuses on cash flow, loan-to-value and debt reduction instead of property numbers

• Houses versus flats—and why tenant turnover, factor fees and capital growth matter

• Why buying quality property can outperform chasing the maximum amount of money from every refinance

• Vanilla buy-to-let versus stocks and shares: how leverage changes the potential return

• What Nick and Steven would do with £40,000 to begin building a property portfolio

• How first-time buyers can use low deposits, house hacking and live-in flips to their advantage

• The investment criteria Nick and Steven would use when purchasing property today

• Their five and ten-year plans for acquiring properties and reducing portfolio debt

• The discounts, added value and refurbishment costs needed to make a BRR deal work

• How bridging finance works, including arrangement fees, monthly interest and exit costs

• Whether fixing a buy-to-let mortgage at 5.7% could make sense

• Kitchen versus bathroom: which refurbishment is more likely to improve a property’s value?

• How to check a property sourcer’s track record, compliance and investment figures

• Why tenanted properties require due diligence on both the building and the tenant

CHAPTERS

00:00 - Nick and Steven answer listeners’ questions

01:15 - Portfolio targets and monthly cash-flow goals

04:03 - Houses versus flats

06:12 - BRR versus buying quality property

08:21 - Loan-to-value and paying down portfolio debt

10:52 - Prime Property Auctions

13:09 - Buy-to-let versus stocks and shares

20:49 - What would they do with £40,000?

23:03 - The advantages of being a first-time buyer

25:56 - Nick and Steven’s property-buying criteria

30:23 - Their five and ten-year property plans

36:18 - How to borrow, buy and recover your investment

38:32 - How bridging finance works

42:47 - Is 5.7% a reasonable refinancing rate?

46:10 - Kitchen versus bathroom refurbishment

49:56 - How to find a trustworthy property sourcer

55:28 - Nick and Steven’s perfect day

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