Our first event for 2013 was on January 14th
It proved to be an inspiring evening with two speakers who shared some great insights into different areas of property investment.
First off the blocks was Terry Brooker, who gave a short insight into an alternative property investment that can be made through a SIPP too. An established hotel development in the spa and wine region of Hungary is expanding and has created an opportunity for investors to gain 10% pa returns for the first 10 years and that includes a BuyBack option of 125% at the end of Year 10 for just £29,750 down. For more information contact Terry through his website: greenshootsproperties.co.uk
Our main speaker was Daniel Burton (pictured). Daniel's inspirational story about how his entrepreneurial spirit ensured he had a multi-million Pound property business by the age of 24.
Having experienced the 'job' market, firstly delivering pizzas and then working as an auditor with Deloittes, Daniel's ambition to own his own business saw the emergence of Socks On, a mail order sock club.
He followed this by a spell at the London School of Economics, where he "failed every year". Instead of knuckling down to the academic side of university life, Daniel started on an educational programme of his own thanks to reading Robert Kiyosaki and Tony Robbins. Soon he had developed a 'rent to rent' strategy to provide accommodation for his fellow students using whatever money he could raise from loans and credit cards to raise the initial working capital he needed to get started. Daniel's property empire had begun!
Student HMOs in London still form a key part of his business today, although he has supplemented this by renting property to young professionals. For more information, see Daniel's website unidaplace.com
He also has a portfolio of properties in Scunthorpe where he originated.
HMOs and multi-lets are key facets of Daniel's business, however he has also started up his own lettings company that utilises the experience he has gained in property and provides a level of service coming from an investor's perspective.
First off the blocks was Terry Brooker, who gave a short insight into an alternative property investment that can be made through a SIPP too. An established hotel development in the spa and wine region of Hungary is expanding and has created an opportunity for investors to gain 10% pa returns for the first 10 years and that includes a BuyBack option of 125% at the end of Year 10 for just £29,750 down. For more information contact Terry through his website: greenshootsproperties.co.uk
Our main speaker was Daniel Burton (pictured). Daniel's inspirational story about how his entrepreneurial spirit ensured he had a multi-million Pound property business by the age of 24.
Having experienced the 'job' market, firstly delivering pizzas and then working as an auditor with Deloittes, Daniel's ambition to own his own business saw the emergence of Socks On, a mail order sock club.
He followed this by a spell at the London School of Economics, where he "failed every year". Instead of knuckling down to the academic side of university life, Daniel started on an educational programme of his own thanks to reading Robert Kiyosaki and Tony Robbins. Soon he had developed a 'rent to rent' strategy to provide accommodation for his fellow students using whatever money he could raise from loans and credit cards to raise the initial working capital he needed to get started. Daniel's property empire had begun!
Student HMOs in London still form a key part of his business today, although he has supplemented this by renting property to young professionals. For more information, see Daniel's website unidaplace.com
He also has a portfolio of properties in Scunthorpe where he originated.
HMOs and multi-lets are key facets of Daniel's business, however he has also started up his own lettings company that utilises the experience he has gained in property and provides a level of service coming from an investor's perspective.
Our Guest Speaker in February 2013 was Roy Inman
Roy's ‘back to basics’ approach and fundamental first principles has enabled him to build a portfolio that is valued at over £6 million and comprises 68 properties. “You wouldn’t build a high-rise skyscraper without putting in the proper foundations first,” he says.
Before he began his property investment career 11 years ago, Roy used to be a chef and regularly worked 60-70 hour weeks, all for £11,000 a year.
Unsurprisingly he thought there must be a better way, and so he gathered enough money for a deposit using a £15,000 personal loan to buy his first property. The rest, as they say, is history.
In addition to his property portfolio, Roy also runs a successful lettings agency and shares his knowledge by running a three month 1-2-1 Intensive Property Success Mentorship programme that is designed to help newbies fast track their results and push established investors to the next level.
By mentoring others, Roy has developed a unique insight into what successful investors do and don’t do. “It doesn't matter what strategy you follow – whether it is single lets, HMO's, lease options, Rent-2-Rent – if you are looking to build any sort of property portfolio you need to know, understand and have the Basic Foundations and Fundamentals in place first” he explains.
These apply to any strategy, yet there are many investors who have become unstuck because they have omitted to take heed of these.
Among the topics Roy covered at IPN were:
* Lead Generation, Why you NEED to "Own Your Patch" and just how easy it is to do
* What figures you NEED to look at and how to get them right at the start and not regret it when it's too late
* Refurbishing the right way to get maximum ROI
* The consequences of NOT having the right tenant
* Why you MUST be fully proactive when it comes to management... even if you use an agent
His 'top tip' when evaluating the potential profitability of a property investment is to ensure the rent covers the mortgage by 150% instead of the usual 125%. "There are so many deals out there, you just have to patient and wait until the right one comes along," he says.
Before he began his property investment career 11 years ago, Roy used to be a chef and regularly worked 60-70 hour weeks, all for £11,000 a year.
Unsurprisingly he thought there must be a better way, and so he gathered enough money for a deposit using a £15,000 personal loan to buy his first property. The rest, as they say, is history.
In addition to his property portfolio, Roy also runs a successful lettings agency and shares his knowledge by running a three month 1-2-1 Intensive Property Success Mentorship programme that is designed to help newbies fast track their results and push established investors to the next level.
By mentoring others, Roy has developed a unique insight into what successful investors do and don’t do. “It doesn't matter what strategy you follow – whether it is single lets, HMO's, lease options, Rent-2-Rent – if you are looking to build any sort of property portfolio you need to know, understand and have the Basic Foundations and Fundamentals in place first” he explains.
These apply to any strategy, yet there are many investors who have become unstuck because they have omitted to take heed of these.
Among the topics Roy covered at IPN were:
* Lead Generation, Why you NEED to "Own Your Patch" and just how easy it is to do
* What figures you NEED to look at and how to get them right at the start and not regret it when it's too late
* Refurbishing the right way to get maximum ROI
* The consequences of NOT having the right tenant
* Why you MUST be fully proactive when it comes to management... even if you use an agent
His 'top tip' when evaluating the potential profitability of a property investment is to ensure the rent covers the mortgage by 150% instead of the usual 125%. "There are so many deals out there, you just have to patient and wait until the right one comes along," he says.
Our speaker in March 2013 was John Corey
John Corey is a highly experienced property investor based in London. He runs a network meeting in the capital, and regularly writes articles on investing and the legal implications of property that landlords should be conversant.
Finance is one of his strong points and his insights how the banking sector works and its loans policies for property investing was highly illuminating. He covered the background why lenders make apparently baffling decisions about which loans they chose to make and the reasons for them.
“Only after an investor can understand how the person with the money thinks can you adjust you strategy to the other party's needs,” he says.
John also covered why investors often get the numbers wrong when calculating deals, which mirrored what Roy had to say the month before. In simple terms John pointed out that on average the cost of running a property - insurance, maintenance, voids, management fees and so on - take out around 40% of the total income. The remaining 60% needs to cover finance costs and what's left is your profit.
While many gurus give the impression that people could become millionaires over night by investing in property, the reality is that it takes much longer. "Take inflation out of the picture, and property hasn't really increased in value much at all," contends John.
So why should someone invest at all? Inflation does have a role because over time values and rents rise while the tenant effectively covers running costs. Buy property and wait is an old adage, but is as true today as it was when it was first coined. “Don’t be impatient,” advises John. Get your figures right to begin with and let time do the rest.
Finance is one of his strong points and his insights how the banking sector works and its loans policies for property investing was highly illuminating. He covered the background why lenders make apparently baffling decisions about which loans they chose to make and the reasons for them.
“Only after an investor can understand how the person with the money thinks can you adjust you strategy to the other party's needs,” he says.
John also covered why investors often get the numbers wrong when calculating deals, which mirrored what Roy had to say the month before. In simple terms John pointed out that on average the cost of running a property - insurance, maintenance, voids, management fees and so on - take out around 40% of the total income. The remaining 60% needs to cover finance costs and what's left is your profit.
While many gurus give the impression that people could become millionaires over night by investing in property, the reality is that it takes much longer. "Take inflation out of the picture, and property hasn't really increased in value much at all," contends John.
So why should someone invest at all? Inflation does have a role because over time values and rents rise while the tenant effectively covers running costs. Buy property and wait is an old adage, but is as true today as it was when it was first coined. “Don’t be impatient,” advises John. Get your figures right to begin with and let time do the rest.
April's IPN had contributions from Steve Wilkes and Nick Watchorn
This was a fascinating meeting because it focussed on two often overlooked, yet important aspects to property investing.
Steve Wilkes, who runs Silver Lining Estate Planning, reflected that many investors now have portfolios that exceed the inheritance tax threshold, and this could lead to the taxman snapping up 40% of the value of your estate that exceeds that.
He explained that by using some simple strategies investors could mitigate this liability and ensure people aren’t left with a huge tax bill.
He also covered the importance of Lasting Powers of Attorney and why investors should set these up for their property business. Without one, then bank accounts would be frozen, and the ability to rent out your property as well as authorising essential repairs would be curtailed should you lose your mental capacity. Resolving the issue is both time consuming and costly.
Our second speaker was Nick Watchorn of Landlords National Property Group. Nick has a portfolio to 46 properties that he refurbished using his own team, giving him a unique insight to the needs of the landlord in the quality refurbishment of properties. He also co-hosts a property meeting in the East Midlands.
Prior to setting up LNPG, Nick ran his own financial services company with David Arundale. The business was responsible for millions of pounds of investors' money. This gave Nick a solid foundation on which to start his property investment journey.
Nick pointed out that landlords and property investors spend a great deal of time and effort sourcing and negotiating the best BMV deals, but when it comes to the refurbishment costs often many pay higher prices than they need to either in cash terms or sweat equity.
He was able to demonstrate how investors – including some of the key names in the business – are able to reduce procurement costs, whether it’s bathrooms or kitchens, carpeting or insurance.
Steve Wilkes, who runs Silver Lining Estate Planning, reflected that many investors now have portfolios that exceed the inheritance tax threshold, and this could lead to the taxman snapping up 40% of the value of your estate that exceeds that.
He explained that by using some simple strategies investors could mitigate this liability and ensure people aren’t left with a huge tax bill.
He also covered the importance of Lasting Powers of Attorney and why investors should set these up for their property business. Without one, then bank accounts would be frozen, and the ability to rent out your property as well as authorising essential repairs would be curtailed should you lose your mental capacity. Resolving the issue is both time consuming and costly.
Our second speaker was Nick Watchorn of Landlords National Property Group. Nick has a portfolio to 46 properties that he refurbished using his own team, giving him a unique insight to the needs of the landlord in the quality refurbishment of properties. He also co-hosts a property meeting in the East Midlands.
Prior to setting up LNPG, Nick ran his own financial services company with David Arundale. The business was responsible for millions of pounds of investors' money. This gave Nick a solid foundation on which to start his property investment journey.
Nick pointed out that landlords and property investors spend a great deal of time and effort sourcing and negotiating the best BMV deals, but when it comes to the refurbishment costs often many pay higher prices than they need to either in cash terms or sweat equity.
He was able to demonstrate how investors – including some of the key names in the business – are able to reduce procurement costs, whether it’s bathrooms or kitchens, carpeting or insurance.
May's meeting was with Julie Hogbin
For the May 2013 meeting of the Ipswich Property Network we had the great pleasure of hearing from Julie Hogbin, who decided to that a 70-hour week wasn't what she wanted and so turned her focus elsewhere.
Her journey began in the summer of 2011 after attending the National Achievers Conference, when the learning - and spending - began in earnest. Julie shared how she went from full time employment to full time property investor in just a year – warts and all!
As she openly admitted it wasn't all plain sailing! Never afraid to try something different, Julie tried a couple of careers before finally settling on property investing as the ‘one’. Initially she faced two big challenges: mindset and not having a fortune to invest. She is now a confident, successful investor who uses creative strategies to gain deals.
She has already been featured and published in the YPN Magazine and is now co–host of the PEN Kent property meet in Ashford with Rick Walton.
Julie told the story of her journey from busy leadership consultant travelling the country to being a confident and busy property investor. She covered her first two deals - one being a lease option to HMO and the other a JV refurb to flip - plus lessons she has learned along the way, including how she dealt with her first ‘rogue’ tenant.
Julie also explained how she initially generated leads and what she did with them, and how she generates leads now. Julie commented: "I want to share some of the things I’ve learned and what I believe are the key areas and characteristics to being successful, and why focus and a clear strategy is so important."
Her journey began in the summer of 2011 after attending the National Achievers Conference, when the learning - and spending - began in earnest. Julie shared how she went from full time employment to full time property investor in just a year – warts and all!
As she openly admitted it wasn't all plain sailing! Never afraid to try something different, Julie tried a couple of careers before finally settling on property investing as the ‘one’. Initially she faced two big challenges: mindset and not having a fortune to invest. She is now a confident, successful investor who uses creative strategies to gain deals.
She has already been featured and published in the YPN Magazine and is now co–host of the PEN Kent property meet in Ashford with Rick Walton.
Julie told the story of her journey from busy leadership consultant travelling the country to being a confident and busy property investor. She covered her first two deals - one being a lease option to HMO and the other a JV refurb to flip - plus lessons she has learned along the way, including how she dealt with her first ‘rogue’ tenant.
Julie also explained how she initially generated leads and what she did with them, and how she generates leads now. Julie commented: "I want to share some of the things I’ve learned and what I believe are the key areas and characteristics to being successful, and why focus and a clear strategy is so important."
Our speakers for June were the “Greedy Property Investors” Sean Toole and Martin Culverhouse
For June’s IPN we welcomed the two “Greedy” property investors – Sean Toole and Martin Culverhouse.
Martin describes himself as a serial entrepreneur, property landlord and a GREEDY property investor! He has a healthy portfolio of buy to let properties, some of which are HMO's in Watford. He has since moved to Brighton where he has developed a simple strategy that he’s dubbed his Super Cash-Flow System.
Sean became a property landlord after reading Rich Dad, Poor Dad by Robert Kiyosaki in 2002, a book that most of us have probably read. Sean runs the Sussex Property Networking Club where he attracts a number of successful and profitable property experts to share their knowledge and experience.
Sean was so inspired by Martin's Cash-Flow System that he decided to join him as a business partner to help other investors benefit from the system too.
Martin’s strategy revolves around buying down at heal guest houses, giving them a complete refurb and spruce up, and then opening them up again as a B&B but without the breakfast.
An ideal project enables Martin and Sean to achieve £150,000 instant equity and £10,000 to £12,000 per month cash flow. While the equity might be variable, the cash flow has been constant in all the projects Martin has been involved with.
Obviously with these numbers it does mean that Martin is looking for larger, higher-priced properties. Consequently it’s suitable for investors with deeper pockets, or for several smaller investors to work together and gain a higher return compared to single lets.
Martin describes himself as a serial entrepreneur, property landlord and a GREEDY property investor! He has a healthy portfolio of buy to let properties, some of which are HMO's in Watford. He has since moved to Brighton where he has developed a simple strategy that he’s dubbed his Super Cash-Flow System.
Sean became a property landlord after reading Rich Dad, Poor Dad by Robert Kiyosaki in 2002, a book that most of us have probably read. Sean runs the Sussex Property Networking Club where he attracts a number of successful and profitable property experts to share their knowledge and experience.
Sean was so inspired by Martin's Cash-Flow System that he decided to join him as a business partner to help other investors benefit from the system too.
Martin’s strategy revolves around buying down at heal guest houses, giving them a complete refurb and spruce up, and then opening them up again as a B&B but without the breakfast.
An ideal project enables Martin and Sean to achieve £150,000 instant equity and £10,000 to £12,000 per month cash flow. While the equity might be variable, the cash flow has been constant in all the projects Martin has been involved with.
Obviously with these numbers it does mean that Martin is looking for larger, higher-priced properties. Consequently it’s suitable for investors with deeper pockets, or for several smaller investors to work together and gain a higher return compared to single lets.
Our meeting in July was with Doug Ponsford
Whatever business you're involved with, getting your mindset right is arguably more important that simply getting on with the job. Doug Ponsford amply demonstrated that when he came along in July to talk at IPN.
Doug is a serial entrepreneur and has been investing in property for nearly 30 years. But his business really started to take off when he learned and understood methods for mastering his mindset through NLP.
The process meant that he needed to spelled out his dreams in clear, unambiguous imagery that anyone could understand. And everything he wrote down manifested itself over time - right down to the house he wanted to live in, the cars he wanted to drive, and the lifestyle he would like to lead.
Many people dismiss these ideas as mumbo jumbo. But all of the millionaires that I've met can relate similar stories. In fact Dr Maxwell Maltz wrote a fantastic book on just this very subject - way back in the early 1960s when this type of thinking was unfashionable!
Doug currently coaches people in personal development, mindset, as well as property investment. Check out his website for more information.
www.DougPonsford.com
Doug is a serial entrepreneur and has been investing in property for nearly 30 years. But his business really started to take off when he learned and understood methods for mastering his mindset through NLP.
The process meant that he needed to spelled out his dreams in clear, unambiguous imagery that anyone could understand. And everything he wrote down manifested itself over time - right down to the house he wanted to live in, the cars he wanted to drive, and the lifestyle he would like to lead.
Many people dismiss these ideas as mumbo jumbo. But all of the millionaires that I've met can relate similar stories. In fact Dr Maxwell Maltz wrote a fantastic book on just this very subject - way back in the early 1960s when this type of thinking was unfashionable!
Doug currently coaches people in personal development, mindset, as well as property investment. Check out his website for more information.
www.DougPonsford.com