Key Deal Packager Questions Answered

This episode answers some of the key questions anyone new to deal packaging will be asking and is the outcome of a conversation David has been having with Trish – who is herself new to deal packaging. These are the real deal – as David answers her questions in this great episode packed with value. If you are starting out it can seem as if you have endless questions that need answers  -listen in and hear the real questions and the answers you need now to get moving and make your deal packaging a success.   KEY TAKEAWAYS To define your investor, you have to fact find and build a relationship  so you know exactly what they are looking for and why they want to work with you. Build credibility with your investor and get face to face even if it’s virtually. You have to know how much money they have to spend and the source of the cash. If they want a deal they will go through the process of getting to know you. If you’ve done it right they should not pull out of the deal because there will be a relationship of trust. In general terms deal packaging is trading, if you are going to set up a trading business doing this through a limited company is the accepted approach. Speak to your accountant The SIC code – applies to a limited company and defines the activities of the company. You will need professional indemnity insurance. Then join a property redress scheme either  TPO (the property ombudsman) or the PRS (property redress scheme) Register online for the ICO. You will have people’s data so you need to look after it and be compliant with the requirements of GDPR. Register with HMRC for anti-laundering supervision   BEST MOMENTS ‘Virtually all investors use mortgages at some point either before or after the initial purchase’ ‘You have to come across as someone who knows their area’ ‘There are just less experienced deal packagers and more experienced deal packagers’   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/