The Serviced Accommodation Property Podcast

In this episode, Kevin explains how serviced accommodation business owners can pivot should market conditions shift. He shares several strategies that he has himself used. Approaches anyone can use to exit the SA business or use their property portfolio to make money in a different way.

KEY TAKEAWAYS

• Serviced accommodation is working well now and will continue to do so in the future.
• Should market conditions change, there are ways for SA owners to reposition themselves and continue to earn. Kevin explains several of them in the podcast.
• Most SA properties can be switched to being rented out to long term clients.
• When buying properties, think through how else you could use them. Then, stress test it for those scenarios.
• If you are thinking you might want to switch it to buy to let, make sure it will achieve the mortgage rent ratio.
• Selling the property is another exit strategy. Especially if you have run out of capital allowance.
• If you still have capital allowances left to claim, get the buyer to sign a 198 election, when you sell. Kevin explains why in the episode.

BEST MOMENTS

‘If you are doing a rent to service combination, you could give the property back to the owner.’

‘You could even ask the letting agent to find an alternative tenant to replace you.’

‘If I wanted to pivot in the future, there are easy ways to do it.’

VALUABLE RESOURCES

Sign up for Discovery Day - https://progressivepropertyreferral.com/serviced-accommodation-discovery-day/amb0676

The Serviced Accommodation Property Podcast

https://propertysoldier.co.uk/

Rich Dad, Poor Dad by Robert T Kiyosaki

Serviced Accommodation Success by Kevin Poneskis

ABOUT THE HOST

Your host Kevin Poneskis enjoys public speaking, travelling, exercising, and keeping fit. He also enjoys working with a charity called STOLL which provides accommodation and training for homeless veterans.

Kevin was in the British Army serving 24 years, mostly in a Commando unit and retired at the rank of Regimental Sergeant Major. He left the Army in 2011 and became a full-time property investor. During most of his Army career, Kevin was investing in property and has been a property investor now for over 27 years.

CONTACT METHOD

https://en-gb.facebook.com/propertysoldier/

[email protected]

In this episode, Kevin speaks with Shimon Rudich, a lawyer with expertise in lease purchase options and other creative ways of acquiring property. He is also a property investor and the landlord of numerous residential, HMO and commercial properties.

Simone explains how to buy, develop, and earn from multiple properties, even if your credit rating is terrible. Doing so without securing a mortgage first. He shares the details of several of the deals he has made throughout his career. Deals anyone can replicate to secure properties and land that they would not otherwise be able to afford to invest in.

KEY TAKEAWAYS

• It makes sense to have multiple streams of income.
• Lease purchase options are a highly viable way to start making money from properties.
• Lease options enable you to secure the exclusive right to buy a property at an agreed-upon future date.
• Buying a property using a lease option means you do not need to secure a mortgage first.
• With the right agreement, you can live in the property or lease it out before you the final purchase date.
• Look for the win-win and take care of the vendor to secure the best and most deals.
• Options are especially tempting for vendors that are struggling to sell or facing repossession.
• Using lease options enables you to invest in big projects, for example converting a large house into flats.
• Be sure to look beyond what the property is worth now. See the potential, especially the options that add value fast.
• Think out of the box to sweat assets like land. Simone shares an interesting way to do this, in the podcast.
• If you are not paying upfront and can hang onto an asset for years until it accrues substantial value, you can afford to offer the vendor a great price.
• With lease options, you need to understand the difference between an exchange and completion. Simone covers this subject, in the podcast.

BEST MOMENTS

‘A lease option is the right, but not an obligation, to buy a property.’

‘Lease options are a win-win scenario.’

VALUABLE RESOURCES

Discover How to Profit from the Airbnb and Bookings.com Boom

The Serviced Accommodation Property Podcast

https://propertysoldier.co.uk/

Rich Dad, Poor Dad by Robert T Kiyosaki

Serviced Accommodation Success by Kevin Poneskis

https://progressivepropertyreferral.com/serviced-accommodation-discovery-day/amb0676

ABOUT THE HOST

Your host Kevin Poneskis enjoys public speaking, travelling, exercising, and keeping fit. He also enjoys working with a charity called STOLL which provides accommodation and training for homeless veterans.

Kevin was in the British Army serving 24 years, mostly in a Commando unit and retired at the rank of Regimental Sergeant Major. He left the Army in 2011 and became a full-time property investor. During most of his Army career, Kevin was investing in property and has been a property investor now for over 27 years.

CONTACT METHOD

https://en-gb.facebook.com/propertysoldier/

[email protected]

In this episode, Arthur Kemp Kevin´s capital allowance expert explains what capital allowances are and how to use them to generate tax-free money. Using several examples, he explains the different ways that SA property business owners can maximise the opportunity including using sideways loss relief. Generating tens of thousands of pounds of what is basically additional profit in the process.

Arthur also touches on how to profit from land remediation relief, structure, and buildings allowance and more. As well as explaining that capital allowance arrangements can potentially be structured to benefit landlords and investors you want to work with. Something that makes it far more likely they will want to take part in more of your win-win deals.

KEY TAKEAWAYS

• According to HMRC, 96% of property transactions hadn´t maximised the capital allowances. So, there are huge opportunities for property entrepreneurs.
• Whenever you buy a property a certain percentage of it can be classified as plant and machinery which can be used to make a capital allowance claim.
• When you extend or refurbish you are usually adding more plant and machinery.
• How a property is traded is important.
• Most accountants do not have a deep enough understanding of capital allowances to maximise them.
• Arthur explains how, in certain circumstances, you can reclaim some of the PAYE tax you have paid.
• It is important to understand the difference between serviced accommodation and short term lets from the point of view of HMRC. This is explained, in the podcast.
• You can only claim capital allowances once in a building´s lifetime. Arthur explains how to buy properties on which a claim has not already been made.

BEST MOMENTS

‘What are capital allowances?  - Tax-free money, ultimately.’

‘It´s really important to get the capital allowances, detailed (in the contract) and signed off at completion.’

VALUABLE RESOURCES

Discover How to Profit from the Airbnb and Bookings.com Boom

The Serviced Accommodation Property Podcast

https://propertysoldier.co.uk/

Rich Dad, Poor Dad by Robert T Kiyosaki

Serviced Accommodation Success by Kevin Poneskis

https://progressivepropertyreferral.com/serviced-accommodation-discovery-day/amb0676

GUEST RESOURCES

Email - [email protected] 

Website - https://www.exactca.co.uk 

Phone - 08454672765 

ABOUT THE HOST

Your host Kevin Poneskis enjoys public speaking, travelling, exercising, and keeping fit. He also enjoys working with a charity called STOLL which provides accommodation and training for homeless veterans.

Kevin was in the British Army serving 24 years, mostly in a Commando unit and retired at the rank of Regimental Sergeant Major. He left the Army in 2011 and became a full-time property investor. During most of his Army career, Kevin was investing in property and has been a property investor now for over 27 years.

CONTACT METHOD

https://en-gb.facebook.com/propertysoldier/ 

[email protected] 

Kevin sheds light on how to structure a new serviced accommodation company. Doing it in the most tax-efficient way. Kevin shares how he and those he has taught do this. Including details that can greatly reduce your tax bill and enable you to manage VAT effectively. Proven approaches, which any SA entrepreneur can easily investigate further and use for their business, where appropriate.

KEY TAKEAWAYS

• Usually, it is best to set up a brand-new company.
• Having a limited company makes tax returns and insurance easier.
• How you own your property is important. There are several entities for you to consider. In the podcast, Kevin walks his audience through each option.
• When working through the possibilities, remember that you have to pay more than corporation tax when you want to get money out of a Limited company.
• Understand and factor in section 24.
• SA owners also need to understand VAT. Including, standard VAT, the flat rate scheme, and the TOMS scheme. Kevin provides an overview of each one.
• Ask an experienced and qualified accountant that is familiar with SA before making your final decision. 
• Understanding capital allowances for serviced accommodation may enable you to claim back money even years after your purchase.

BEST MOMENTS

‘Bear in mind the way you will pay tax depends on how you own the properties.’

‘Don’t just think about capital allowances on serviced accommodation. Start thinking the bigger picture.’

VALUABLE RESOURCES

Discover How to Profit from the Airbnb and Bookings.com Boom

The Serviced Accommodation Property Podcast

https://propertysoldier.co.uk/

Rich Dad, Poor Dad by Robert T Kiyosaki

Serviced Accommodation Success by Kevin Poneskis

https://progressivepropertyreferral.com/serviced-accommodation-discovery-day/amb0676

ABOUT THE HOST

Your host Kevin Poneskis enjoys public speaking, travelling, exercising, and keeping fit. He also enjoys working with a charity called STOLL which provides accommodation and training for homeless veterans.

Kevin was in the British Army serving 24 years, mostly in a Commando unit and retired at the rank of Regimental Sergeant Major. He left the Army in 2011 and became a full-time property investor. During most of his Army career, Kevin was investing in property and has been a property investor now for over 27 years. 

CONTACT METHOD

https://en-gb.facebook.com/propertysoldier/

[email protected]

In this episode, Kevin lets you listen in on a live mentoring call he did with Steve who is a plumbing and heating engineer who is looking to set up a SA business as well. Kevin steps him through finding the right area to set up in, making sure that the lease allows SA and the tricky subject of capital allowances. He also shares why, often, properties in depressed areas can make great SA properties. As well as touching on several other subjects which are of particular importance to those getting started in the industry.

KEY TAKEAWAYS

• Don´t discount the cheaper areas of town. Provided people can safely park their car outside it is worth checking out.
• The right owning entity is important. Kevin explains the pros and cons of each option in the podcast.
• Don´t follow the herd.
• Understand what your customer wants, so you do not inadvertently dismiss good opportunities.
• Create win-wins for investors. Kevin explains how in the podcast.
• With SA, it is often possible to use the TOMs scheme to greatly delay having to pay VAT. Kevin covers that in quite a bit of detail.

BEST MOMENTS

‘Reassuring the landlord or agent that you already have clients lined up is ideal’

‘Once you have listened to what the investor wants, you can reverse engineer the way you present the deal to them.’

VALUABLE RESOURCES

Contact Kevin - [email protected]

Discover How to Profit from the Airbnb and Bookings.com Boom

The Serviced Accommodation Property Podcast

https://propertysoldier.co.uk/

Rich Dad, Poor Dad by Robert T Kiyosaki

Serviced Accommodation Success by Kevin Poneskis

https://progressivepropertyreferral.com/serviced-accommodation-discovery-day/amb0676

ABOUT THE HOST

Your host Kevin Poneskis enjoys public speaking, travelling, exercising, and keeping fit. He also enjoys working with a charity called STOLL which provides accommodation and training for homeless veterans.

Kevin was in the British Army serving 24 years, mostly in a Commando unit and retired at the rank of Regimental Sergeant Major. He left the Army in 2011 and became a full-time property investor. During most of his Army career, Kevin was investing in property and has been a property investor now for over 27 years.

CONTACT METHOD

https://en-gb.facebook.com/propertysoldier/

[email protected]

In this episode, Kevin explains why CoVid has created several new opportunities for property investors and SA landlords. He shares why that has happened as well as explaining how you can take advantage of several of these opportunities.

Kevin also announces a new workshop he is running to help investors and landlords to uncover and benefit from even more new property business models. You can find out how to enrol by listening to the podcast.

Property Revolution Summit: https://bit.ly/prskev

KEY TAKEAWAYS

• Covid has created opportunities for well-educated property investors.
• Some of the models were there pre-covid but have become far more lucrative as a result of the crisis.
• There are also several new approaches landlords can use to benefit, which Kevin explains in the podcast.
• Fixing people´s problems is a highly effective way to make a profit while helping them. The ending of furlough creates such a landscape.
• People will be wanting to off-load properties quickly, which is an opportunity for investors.
• Win-win solutions will work best.
• Even the stamp duty holiday ending creates an opportunity. Kevin shares the exact strategy you can use to benefit.
• People will want to make better use of their savings, which is a win-win opportunity for investors who are seeking funds.
• Rent to SA is still a way in for those without a lot of funds to invest.
• There is also an opportunity to create win-win situations with tenant-buyer deals.
• Kevin´s Property Revolution Summit is the place to learn more. Details are in the podcast.

BEST MOMENTS

‘The current landscape has actually created lots of benefits for sophisticated property investors.’

‘There is going to be many more motivated sellers out there.’

‘I have cash flowing in in excess of £1000 a month on a property I did not buy.’

VALUABLE RESOURCES
Property Revolution Summit: https://bit.ly/prskev

Discover How to Profit from the Airbnb and Bookings.com Boom

The Serviced Accommodation Property Podcast

https://propertysoldier.co.uk/

Rich Dad, Poor Dad by Robert T Kiyosaki

Serviced Accommodation Success by Kevin Poneskis

https://progressivepropertyreferral.com/serviced-accommodation-discovery-day/amb0676

ABOUT THE HOST

Your host Kevin Poneskis enjoys public speaking, travelling, exercising, and keeping fit. He also enjoys working with a charity called STOLL which provides accommodation and training for homeless veterans.

Kevin was in the British Army serving 24 years, mostly in a Commando unit and retired at the rank of Regimental Sergeant Major. He left the Army in 2011 and became a full-time property investor. During most of his Army career, Kevin was investing in property and has been a property investor now for over 27 years.

CONTACT METHOD

https://en-gb.facebook.com/propertysoldier/ 

[email protected] 

In this episode, Rob and Mark Hodgkiss of Harrogate Stays share how they have taken multiple B&Bs and turned them into highly profitable Apart Hotels. They explain how they have quickly scaled their properties and practically doubled their turnover, in under a year. In the podcast, they share details of how to find properties to convert operate and buy.

KEY TAKEAWAYS

• With apart-hotels, the initial investment can be high. But so is the income.
• Look at adding scale e.g., adding more rooms.
• Upgrading the rooms or accommodating more people is another way to sweat your asset.
• Increasing the occupancy rate is often not hard to do especially when taking over an old B&B.
• Right now, because baby boomer owners want to retire, there are a lot of B&Bs for sale.
• There are limited buyers for these kinds of properties.
• You can create a flexible and creative acquisition structure out of the fact so many B&B owners want to sell.
• This is not a passive or get rich quick model, but the rewards are high.
• It is a business model that is extremely good for cash flow.

BEST MOMENTS

‘Serviced apartments are essentially a single let on speed.’

‘One of the extra benefits is existing C1 class, so no planning’

VALUABLE RESOURCES

Discover How to Profit from the Airbnb and Bookings.com Boom

The Serviced Accommodation Property Podcast

https://propertysoldier.co.uk/

Rich Dad, Poor Dad by Robert T Kiyosaki

Serviced Accommodation Success by Kevin Poneskis

GUEST RESOURCES

Website - https://www.inhotproperty.co.uk/

Contact - [email protected]

Facebook – https://www.facebook.com/harrogatestays/

Instagram - https://www.instagram.com/harrogatestays/

Contact – [email protected]

https://harrogatestays.co.uk/

https://progressivepropertyreferral.com/serviced-accommodation-discovery-day/amb0676

ABOUT THE HOST

Your host Kevin Poneskis enjoys public speaking, travelling, exercising, and keeping fit. He also enjoys working with a charity called STOLL which provides accommodation and training for homeless veterans.

Kevin was in the British Army serving 24 years, mostly in a Commando unit and retired at the rank of Regimental Sergeant Major. He left the Army in 2011 and became a full-time property investor. During most of his Army career, Kevin was investing in property and has been a property investor now for over 27 years.

CONTACT METHOD

https://en-gb.facebook.com/propertysoldier/

[email protected]

In this episode, Kevin busts some of the most common serviced accommodation myths. He helps you to better understand what can and cannot be done by SA business owners. Ensuring that nobody gets needlessly stuck or suffers unnecessary expense as a result of misinformation. He speaks about rates, planning classes, property standards classification, purchasing as a Ltd company and why you would not sign an ASD when taking a property off of an owner.

KEY TAKEAWAYS

• From a planning point of view, the appropriate use class for most serviced accommodation models is C3.
• For most SA landlords, going onto business rates is not something to worry about. Kevin explains why in the podcast.
• Serviced accommodation, which should definitely not be someone´s permanent home, is not covered by the housing act.
• If an agent is belligerently telling your property needs to be treated as an HMO use the housing officer to provide them with concrete proof that it is not. Kevin explains exactly how in the podcast.
• No business use clauses in leases do not always preclude your using a building for SA.
• All SA properties need to be bought as a Ltd company is a myth – Kevin explains why, including the potential tax benefits, in the episode.

BEST MOMENTS

‘You could potentially claim small business rates relief’

‘I always suggest that you look at sublease and the head lease.’

VALUABLE RESOURCES

Discover How to Profit from the Airbnb and Bookings.com Boom

The Serviced Accommodation Property Podcast

https://propertysoldier.co.uk/

Rich Dad, Poor Dad by Robert T Kiyosaki

Serviced Accommodation Success by Kevin Poneskis

https://progressivepropertyreferral.com/serviced-accommodation-discovery-day/amb0676

ABOUT THE HOST

Your host Kevin Poneskis enjoys public speaking, travelling, exercising, and keeping fit. He also enjoys working with a charity called STOLL which provides accommodation and training for homeless veterans.

Kevin was in the British Army serving 24 years, mostly in a Commando unit and retired at the rank of Regimental Sergeant Major. He left the Army in 2011 and became a full-time property investor. During most of his Army career, Kevin was investing in property and has been a property investor now for over 27 years. 

CONTACT METHOD

https://en-gb.facebook.com/propertysoldier/

[email protected]

Register your interest in Serviced Accommodation Discovery Day here, and a member of our team will get back to you to confirm your place at your preferred date.

In this episode, Kevin explains why converting a guest house into self-catering accommodation is so lucrative. He shares details of how anyone that is interested in running an SA business can use this model.

Including in-depth tips that will help you to get past typical hurdles and not make common mistakes. For example, why macerating toilets are not a good idea for this type of project and how to choose a surveyor that will provide the valuation you need. He also covers finance, maximising tax savings, due diligence, and much, much more.

KEY TAKEAWAYS

• Developing an existing guest house into an Apart Hotel for self-caterers is an exciting SA opportunity.
• It is a great way to increase the earning capacity of existing businesses.
• Increasingly people prefer self-catering apartments to hotel or B&B rooms. Demand is huge.
• Many B&B owners are trapped in their businesses, so are keen to sell.
• This type of commercial property can potentially be valued on its earnings before interest, tax, depreciation, amortisation, or EBITDA. Kevin provides more details in the podcast.
• Capital allowances can only be claimed once in a building’s lifetime. This needs to be considered as part of the purchase.
• It is possible to get a significant % of the purchase cost back out when using this SA business model.
• Even if you are buying with cash, get a survey done.
• Use a conveyancing solicitor that has experience in dealing with this type of property.
• Never assume that a property that is currently a guest house is trading legally.
• Make sure that the seller is willing to let you claim the capital allowances. Kevin explains why.
• Lease options are a highly effective way to fund these deals. They can be made attractive to sellers too.
• Get a DIP to make it easier to obtain your loan.
• Make sure that your option to buy is long enough to cover bank and financing delays.

BEST MOMENTS

‘Section four acquisition guest house B&B conversion is one of the most exciting acquisition strategies’

‘Ensure that both planning and building control are happy with the alterations of the property.’

‘Use a commercial surveyor who is on the recognised panel for the lender that you intend to use for your loan’

‘People often say that property investment training is expensive. But I know that ignorance is expensive.’

VALUABLE RESOURCES

The Serviced Accommodation Property Podcast

https://propertysoldier.co.uk/

Rich Dad, Poor Dad by Robert T Kiyosaki

Serviced Accommodation Success by Kevin Poneskis

ABOUT THE HOST

Your host Kevin Poneskis enjoys public speaking, travelling, exercising, and keeping fit. He also enjoys working with a charity called STOLL which provides accommodation and training for homeless veterans.

Kevin was in the British Army serving 24 years, mostly in a Commando unit, and retired at the rank of Regimental Sergeant Major. He left the Army in 2011 and became a full-time property investor. During most of his Army career, Kevin was investing in property and has been a property investor now for over 27 years. 

CONTACT METHOD

https://en-gb.facebook.com/propertysoldier/

[email protected]

Register your interest in Serviced Accommodation Discovery Day here, and a member of our team will get back to you to confirm your place at your preferred date.

In this episode Kevin explains how to avoid properties that have lease restrictions that would prevent you from legally running them as serviced accommodation. He explains how to get your hands on the lease and correctly interpret what it says to determine if the property is actually suitable.

KEY TAKEAWAYS

• In the UK, over 80% of properties are freehold, which means that they are usually suitable for SA.
• A lot of lease restrictions are open to interpretation.
• You need to see and read both the lease and any sub lease for any property you wish to use for SA. In the episode, Kevin explains some of the things to look out for.
• If you know that the block management company or neighbours are anti-SA it is best to go elsewhere even if the lease states that you can do SA. It is not worth the hassle.

BEST MOMENTS

‘Over 80% of properties in the UK are freehold properties, where there are no restrictions.’

‘A lot of these restrictions are open to interpretation.’

VALUABLE RESOURCES

Discover How to Profit from the Airbnb and Bookings.com Boom

The Serviced Accommodation Property Podcast

https://propertysoldier.co.uk/

Rich Dad, Poor Dad by Robert T Kiyosaki

Serviced Accommodation Success by Kevin Poneskis

ABOUT THE HOST

Your host Kevin Poneskis enjoys public speaking, travelling, exercising, and keeping fit. He also enjoys working with a charity called STOLL which provides accommodation and training for homeless veterans.

Kevin was in the British Army serving 24 years, mostly in a Commando unit and retired at the rank of Regimental Sergeant Major. He left the Army in 2011 and became a full-time property investor. During most of his Army career, Kevin was investing in property and has been a property investor now for over 27 years.

CONTACT METHOD

https://en-gb.facebook.com/propertysoldier/

[email protected]