Ask Siegler Anything! Q&A Critical to Your Property Success

‘It’s a people business, not a property business if you can find out about the people issues you can find a way forward’  In this episode, David is joined by Cheryl Siegler,  a property expert who knows and understands the ebb and flow and nuances of property issues.  Together they are answering questions from the Progressive Community, deep diving to provide great value and the benefit of their extensive experience.  These questions are critical to your property success so listen in and make sure you are on the road to success.     KEY TAKEAWAYS  Making sure you don’t lose the deal  You must have investors in place and know their criteria They should know what to expect when you contact them.  Always try to have a backup investor,  pre-qualify a second investor  Just 2 investors can get you moving, one as your principal investor and the second as back up. Get them in place and when you find a deal that meets their criteria you can move quickly.   Major refurbishment  You need to know about the circumstances, why it's fallen into disrepair.  It could be either a gold mine or a money pit. Proceed with caution and find out as much as you can.  If you cannot contact the owner use the land registry to find out who owns it and whether it has any mortgage.  It’s a people business, not a property business if you can find out about the people issues you can find a way forward.  Preparing for deal packaging training  Every time you are within 1 metre of someone tell them what you are doing, start telling everyone what you are going to do and how you are learning to be good at it.  Attend events and network with others you don’t get the deal on the first date, it’s about building a relationship.  If you pick up 1 investor a month, every month for a year you will have a business that could earn you 6 figures.   The first meeting with an investor  Always begin with “how can I help?’ and then listen, it’s the key question, you are there for a reason.  You need to find out what the investor wants and they will want to know about your credentials. If you are starting out you can borrow the credibility of the people who are coaching and mentoring you.  You should practice what you want to say so you are confident when you sit down with the potential investor.     BEST MOMENTS  ‘Investors that I take round are always impressed’  In my experience, investors are happier waiting for the right deal  ‘I was inspired by Rob Moore and Mark Homer at Multiple Streams of Income’  ‘If you are confident it inspires confidence in others’     VALUABLE RESOURCES   Property Sourcing Profits Podcast  https://www.progressiveproperty.co.uk/  https://unlimited-success.co.uk/  https://www.facebook.com/groups/progressivepropertycommunity/     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.facebook.com/DavidSieglerInvestments/