The Complete Package – Sourcing Through to Letting

David is with his business ‘partner in crime’ Adam Seal Sourcing and Development Manager at Progressive Lets. They have worked together across multiple projects and discuss the relationship between investors and the letting agent and take us through the process from acquisition of a property through refurbishment to letting. It’s all about the relationships and processes and Adam has extensive expertise and experience developing both and shares some great advice that can be used effectively by anyone developing property for investors. This episode is a great insight into how working effectively together with trust and effective systems is the key to success for good property deals and investment.   KEY TAKEAWAYS It’s good for investors to know everything is in the same place, a bricks and mortar office along with good systems and processes means everything runs smoothly. If you source a property, work out the numbers and have the right contacts for trades to carry out any work then you are in a position to offer something to an investor. We work with the investor to get them what they want and the numbers they are hoping for. Good numbers are about knowing the area. You will know what will be good and how a property will perform moving forward. Find out exactly what the client wants and how this can be achieved. Keeping a detailed database means you build valuable information about how properties have performed. When you are converting to an HMO its vital that there are detailed instructions for the builder, this saves both time and potential errors. With a good system in place, you can provide the builder with detailed drawings and a specific list of products to use. This ensures projects are on budget and on time meeting the expectations of the investor. It’s all about the people you are working with.   BEST MOMENTS ‘It’s a massive plus being able to manage a property through to letting’ ‘Each room has a room plan on the wall to make sure everyone knows exactly what is required’ ‘I’d rather have too much paperwork than not enough’   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/