Kuuntele Property Sourcing Profits Podcast

The majority of people are good and honest but as a landlord, you are likely to come across some people who are not and in this episode, David takes us through the court proceedings he has recently been through with a tenant. He shares great content on how the process works and the paperwork the landlord needs to have in place. In the proceedings, the onus is on the landlord to prove the case so having the right information in place is vital. David also reflects on the current situation with the rental market as demand continues to rise and the availability of properties remains limited. KEY TAKEAWAYS * Through Covid, there has been an eviction ban and local bailiffs have not been able to work with landlords before 1 June 2021 * The landlord has to prove their case and you have to have followed the process correctly * The tenant doesn’t have to do anything at all they can be rude, disrespectful, lie and ignore you * Submit your paperwork to the court, there is an initial unattended review followed by an attended hearing around 4 weeks later * A suspended possession order means the tenant stays in the property, pays the rent going forward along with an agreed monthly amount towards the arrears * Selected licence areas are those where you need a licence from the council to have a single buy to let * There is a perfect storm at the moment with Section 24 and COVID meaning there are less properties available * There are more people needing rental accommodation because they can’t afford to buy * Rents have gone up and there are very few properties available to rent. * Tenants are offering future rent and guarantors to secure properties * As a deal packager when you are putting together a deal make sure you are reflecting the right numbers. BEST MOMENTS ‘The government may have thought they were helping tenants but they’ve made it worse’ ‘There are more people needing rental accommodation because they can’t afford to buy and less rental accommodation available’ ‘The demand for properties currently is extraordinary’ VALUABLE RESOURCES Property Sourcing Profits Podcast [https://itunes.apple.com/gb/podcast/property-sourcing-profits-podcast/id1384873667?mt=2] https://www.progressiveproperty.co.uk/ [https://www.progressiveproperty.co.uk/] https://unlimited-success.co.uk/ [https://unlimited-success.co.uk/] https://www.facebook.com/groups/progressivepropertycommunity/ [https://www.facebook.com/groups/progressivepropertycommunity/] Property Investors podcast [https://podcasts.apple.com/gb/podcast/property-investors-podcast/id1449470630] 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.linkedin.com/in/david-siegler-7b126316/] https://www.facebook.com/DavidSieglerInvestments/ [https://www.facebook.com/DavidSieglerInvestments/] This show was brought to you by Progressive Media [https://progressivestudios.co/]

From 1 June bailiffs are permitted to work again for private landlords and David explains his court proceedings with a reluctant tenant providing great information and advice for landlords He highlights the importance of being all over your repairs and why following the procedure and ensuring you have the right paperwork in place is key. This episode is a great opportunity to hear exactly how the process works and about the help that is available. KEY TAKEAWAYS * The judge has mandated due to the money arrears it’s not about the condition of the property. * The duty solicitor did it by the book, checking everything from the dates to the procedure followed * There was no evidence re the issues the tenant raised in the court on the day * The solicitor was very professional and took an opinion on what was happening * If any issues are raised at a hearing the judge will look at; The value of the repairs The value of the outstanding rent Whether the value of the repairs would reduce the rent so it’s below two  months outstanding. * If you’ve got reluctant tenants follow the system * The NRLA are very  helpful and can provide legal advice BEST MOMENTS ‘Make sure you are all over your repairs’ ‘It’s a simple money order’ VALUABLE RESOURCES Property Sourcing Profits Podcast [https://itunes.apple.com/gb/podcast/property-sourcing-profits-podcast/id1384873667?mt=2] https://www.progressiveproperty.co.uk/ [https://www.progressiveproperty.co.uk/] https://unlimited-success.co.uk/ [https://unlimited-success.co.uk/] https://www.facebook.com/groups/progressivepropertycommunity/ [https://www.facebook.com/groups/progressivepropertycommunity/] Property Investors podcast [https://podcasts.apple.com/gb/podcast/property-investors-podcast/id1449470630] 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.linkedin.com/in/david-siegler-7b126316/] https://www.facebook.com/DavidSieglerInvestments/ [https://www.facebook.com/DavidSieglerInvestments/] This show was brought to you by Progressive Media [https://progressivestudios.co/]

Tenants are a key part of any deal packaging proposal and David shares some great tips about how the property market is changing. Rents have been stuck for a significant amount of time but now they are on the rise and as a deal packager you need to understand the impact of Section 24, why there are fewer rental properties available and why it’s vital you have up to date rental figures for your area to make sure you are presenting the best opportunities to investors. KEY TAKEAWAYS * Being a buy to let landlord is a business * Incrementally section 24 has meant you can subtract less and less mortgage interest * The presentation can make a difference to the level of rent and the ceiling level for rent is not determined by the street. * The buy to let market has contracted since 2016 but with government incentives, the property market as a whole has continued to grow * On average in the last year rents have risen by 6% * There are fewer rental homes available which has impacted rents * The long term impact of there being fewer rental properties is now being felt by tenants * Tenants going into the property market looking to rent have approximately 50% of the choice they had two years ago * A contraction in the market and fewer rental opportunities mean that tenants are seeing rising rents * Make sure you have the up to date rental figures for your area BEST MOMENTS ‘Section 24 has started a metaphorical fire in the rental market’ ‘Make sure you know the market rent and don’t be afraid to put it up’ VALUABLE RESOURCES Property Sourcing Profits Podcast [https://itunes.apple.com/gb/podcast/property-sourcing-profits-podcast/id1384873667?mt=2] https://www.progressiveproperty.co.uk/ [https://www.progressiveproperty.co.uk/] https://unlimited-success.co.uk/ [https://unlimited-success.co.uk/] https://www.facebook.com/groups/progressivepropertycommunity/ [https://www.facebook.com/groups/progressivepropertycommunity/] Property Investors podcast [https://podcasts.apple.com/gb/podcast/property-investors-podcast/id1449470630] 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.linkedin.com/in/david-siegler-7b126316/] https://www.facebook.com/DavidSieglerInvestments/ [https://www.facebook.com/DavidSieglerInvestments/] This show was brought to you by Progressive Media [https://progressivestudios.co/]

The market is hot how do you give value to your investors? David shares great content from his deal packaging Mastermind group who have been discussing how as a deal packager you can give value to your investors when the market is hot. Multi-letting serviced accommodation and tenant buyers are all strategies to consider and could be what makes the difference in securing value for your investors. KEY TAKEAWAYS * At the moment the yield rates may not be great with buy to lets * With single buy to let you need to use your education and make use of your mentors * How can you increase the rent role so that investors enjoy a great opportunity? * Look at multi letting - subject to making it legal and safe the rooms could be let individually and the gross yield goes up. * Serviced accommodation -  a smart single let house where you have ‘guests’ and can increase the income * Tenant buyers - find people who want to buy further on in time but will rent now * Engineer the payments so every month there is an overpayment towards the deposit * It’s a win for the investor because they get a higher return * It’s a win for the tenant as they will get on the property ladder * It’s a much overlooked strategy BEST MOMENTS ‘The market is hot, hot, hot’ ‘A single buy to let can become very attractive with a tenant-buyer in it’ VALUABLE RESOURCES Property Sourcing Profits Podcast [https://itunes.apple.com/gb/podcast/property-sourcing-profits-podcast/id1384873667?mt=2] https://www.progressiveproperty.co.uk/ [https://www.progressiveproperty.co.uk/] https://unlimited-success.co.uk/ [https://unlimited-success.co.uk/] https://www.facebook.com/groups/progressivepropertycommunity/ [https://www.facebook.com/groups/progressivepropertycommunity/] Property Investors podcast [https://podcasts.apple.com/gb/podcast/property-investors-podcast/id1449470630] 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.linkedin.com/in/david-siegler-7b126316/] https://www.facebook.com/DavidSieglerInvestments/ [https://www.facebook.com/DavidSieglerInvestments/] This show was brought to you by Progressive Media [https://progressivestudios.co/]

In this episode, David looks at the market currently and delves deeper into content from Zoopla and the Daily Telegraph about what’s happening right now in the property market and what it means moving forward. Levels of sales in the prime central areas have recovered and the ripple effect will impact across the country and affect all areas as more money is spent across the economy. If you are involved in property and a deal packager then this is an episode you need to catch up with. KEY TAKEAWAYS * The mortgage lending in April jumped to a record high and this was driven by purchases in London * Deals in Kensington and Chelsea jumped by 80% in the two weeks after the April 12 restrictions were lifted * 8 billion was borrowed for residential mortgages in March as people race to take advantage of the stamp duty holiday * What has happened in the last few weeks beats the hot property market in 2006 and its price rises * At the beginning of the year the further you went from London the hotter the property market but this has now changed with the return of demand for property in London * Banks have now  begun to instruct workers to return to the workplace and London is on the up * A record number of first-time buyers have paid over a million pounds for their first property. * It’s good news for everyone because it means all properties are increasing BEST MOMENTS ‘The ripple effect means more money spent across the economy’ ‘If you are packaging in London then this is great news’ VALUABLE RESOURCES Property Sourcing Profits Podcast [https://itunes.apple.com/gb/podcast/property-sourcing-profits-podcast/id1384873667?mt=2] https://www.progressiveproperty.co.uk/ [https://www.progressiveproperty.co.uk/] https://unlimited-success.co.uk/ [https://unlimited-success.co.uk/] https://www.facebook.com/groups/progressivepropertycommunity/ [https://www.facebook.com/groups/progressivepropertycommunity/] Property Investors podcast [https://podcasts.apple.com/gb/podcast/property-investors-podcast/id1449470630] 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.linkedin.com/in/david-siegler-7b126316/] https://www.facebook.com/DavidSieglerInvestments/ [https://www.facebook.com/DavidSieglerInvestments/] This show was brought to you by Progressive Media [https://progressivestudios.co/]