#11 Losing Control

Welcome to another episode of the Property Sourcing Profits podcast. In today’s episode, David leverages a live stream to bring you some essential information on ‘Losing Control’   Understand that as deal packagers we can be fragile when things break down when deals don’t materialise. You have to close your deals in advance and avoid them dropping out or falling through. Don’t get demoralised, you need to take control. Invest time with your investors and show them your commitment. David urges you to serve your investors well, and give great value. You need to learn the investor's criteria, their commitment, what they’re looking for and what financial return they’re interested in. Only then can you properly get out there and start sourcing deals. KEY TAKEAWAYS Consider taking a reservation fee and always make sure you’ve got proof of funds from your investor. If you’re working with estate agents this is vital. Make sure you have a backup buyer and always work with roughly 10 investors Investors are looking for a return on their money. Crunch down the numbers and find out what the net return on the capital employed will be, if it is around 12% you know you are competing with the high street banks. BEST MOMENTS “Invested the time in getting to know the investor” “Inflation is eating away at your investor's money. You have the opportunity to help them to secure their money in a bricks and mortar purchase” “You need to know the value in marketing, you have to be out there getting new investors and building relationships” VALUABLE RESOURCES Progressive Property Facebook Community 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   David’s LinkedIn David’s Facebook