The Property Side Hustle Podcast (PSN Property Education)

Paul shares his own personal journey in life and property in this very special episode of the podcast.

Why not join our Facebook group for free property training and more in a community of 19,000 property people - link below.

Check out the show links below:

Join the Facebook group

Join The Mentor Program: Property Basecamp

We are back!!!! Paul is back with a new episode on: how you can start your own property sourcing business in 2023!

Join us on this episode and also be sure to check out all our free property resources below.

Free Property Training

Join Paul's Mentoring Waiting List Here

Online Shop

Part two of the series is here... Paul dives head first into so much on this episode, it's a must listen for anybody considering starting a sourcing business.

Paul covers marketing, how to scale your business and how the right mindset is all powerful in your approach to property and business.

Work with Paul one to one

Join the waiting list here

Host Paul, returns and talks about how most sourcers make mistakes when analysing deals! Learn what the top mistakes are and level up your game to ensure your not falling foul when it comes to brochures and packaging your deals up for investors!

Join the Deal Sourcing Community on Facebook!

https://www.facebook.com/groups/dealsourcingcommunity  

Join us for our latest episode... 

Discover what you could be doing during lock-down with your property business and also a break from property... get our none property related Netflix recommendations of what to watch during these difficult times! 

Join us at PSN Property Education the home of affordable and ethical property training online.

www.psnproperty.co.uk/s/shop/ 

Today's podcast episode is for those property sourcers out there, struggling to sell deals to investors... they source the deals no problem, but always struggle to find the investor and sell!

This podcast could change your sourcing business model and have you dropping deals in no time with just one simple tweak... and it will save you more time too!

Property Training:

www.psnproperty.com/property-training 

Back with another episode - Listen to Paul's take on the current situation regards the market now, what's going to happen long term and discover why now is the time to get started in property... Opportunity exists in a decreasing market, in a growing market - the opportunity will be different but it still exists. The key is understanding what the opportunity is!

Property Data Referral Link:

https://propertydata.co.uk/r/4KemOeKP 

Join Paul on this extended podcast episode as he discusses how you can get started, the steps to consider and the likely costs of getting set-up. 

*NOT TO BE MISSED - If your looking to get started in property and want to know how best to do so, without spending thousands of pounds on courses!

Podcast Exclusive Listener Offer

Click Here: http://bit.ly/2Zd4Lvn 

Join the Facebook Group

The Property Deal Sourcing Community: http://bit.ly/36X4u3N

Visit Our Website

www.psnproperty.co.uk  

This is a common conundrum in property for sourcers. Listen as Paul discusses how to play your cards when you source a property that is tenanted and the checks you should make to ensure there is less risk in play for your investor.

More Details on Property BaseCamp Programme:

www.psnproperty.co.uk 

Requested by a member of the Facebook group 'The Property Deal Sourcing Community', this podcast is all about beating the fear...

The Fear of Talking To Agents, Vendors & Investors!

Paul gives you a simple three step hack to combat the fear in these situations.

Many newbies to property avoid what they fear, they put roadblocks up and actually stop their own business from moving forward. In this episode Paul, lay's down his experience and how you can make some simple changes that can benefit you. 

Join the Facebook Group Now: 

https://bit.ly/36X4u3N

Visit Our Website: 

www.psnproperty.co.uk 

Paul is back with a bang as he rips into property education, gurus, courses and why they all set you up to fail! 

Paul also shares a very exclusive offer with listeners and gives an update on life too!

Here is the link to apply for lifetime 1 to 1 property and business mentorship: www.psnpropertyblog.com  

In this episode we move on from yesterdays and discuss how you can best work with Agents and utilise that relationship to facilitate business and money in the bank for you as the sourcer. 

Check out our website for more free training here: www.psnproperty.com 

We are the home of affordable property education and constantly warn people about the dangers of falling for property gurus marketing.... If you want to get started in property but want a more cost effective route then check out our latest offer here: https://bit.ly/basecampoffer 

Paul is back with part three of the series on starting your own deal packaging business.

In this episode Paul answers your most asked questions so don't miss out on this one.

Work with Paul 1 to 1: Join the waiting list here

Visit the Website: Find out more... 

Host Paul, dispels the myth you need a huge list of investors to be successful in property. He also dives into where your focus should be and how you should approach investor relationships to further your own business.

Check out our new website: www.psnproperty.co.uk 

Free Training and More: https://flow.page/psnproperty

Till next time, take it easy and stay safe

Paul

Host Paul is back to give you some more property brain food -

Let’s talk comparables…

A lot of people struggle with finding comparables, so I’m going to share how I approach finding the best comparables possible and give you lots of tips too.

Podcast Episode Links: 

Access Free Training

Join Our Facebook Property Deal Sourcing Community

Property Data Website

Our Blogs and Property Articles

In our 'Which Strategy' episodes we dive into the pros and cons of a property strategy.

Paul, talks all things rent to rent in this episode: covering average earning potential, common misconceptions surrounding passive income and the real pros and cons when running a rent to rent business. 

Access our FREE Training here: www.psnproperty.com  

Host Paul, helps Investors recycle their cash and build a property portfolio quickly with limited funds!

Sounds amazing doesn't it? That's exactly what happens when you apply the BRRR strategy and leverage creative finance. 

In this episode Paul, gives you the low-down on how to actually use the strategy and also dispels some common myths spread by property guru types.

Podcast Links:

Kevin Wright Facebook

Kevin Wright YouTube Channel

If you would like to learn more about property, investing or other strategies we provide free training and paid online courses too… and what makes us different to others is - we charge lower fees and give you maximum value and we don’t harp on about daft things like chasing financial freedom and giving people unrealistic ideas. If you want down to earth, affordable training and support, check out what we offer on the link below.

We also offer 1 to 1 mentorship and support on our Property BaseCamp programme and all our training is now available on pay monthly options allowing you to spread the cost and get started!

CLICK HERE FOR ONLINE COURSES

CLICK FOR 1 TO 1 MENTORSHIP

CLICK FOR FREE PROPERTY WORKSHOP

Show Links:

Apply for Our Mentorship Program

Visit our Website

Podcast Transcript:

Show 71: Step by Step Guide to Portfolio Building with the B.R.R.R.R Strategy

Host: Welcome back to "The Property Side Hustle Podcast"

Today, we're diving deep into a strategy that's turbocharged the portfolios of countless investors: the BRRRR method. That's B-R-R-R-R, and it stands for Buy, Refurbish, Refinance, Rent, and Repeat.

It's a powerful way to rapidly expand your property portfolio, and we're going to break it down step-by-step for you in today’s episode.

Host: The BRRRR strategy is all about leveraging your cash or using bridging finance to acquire undervalued properties, adding value through refurbishment, and then pulling your initial investment back out through refinancing. This allows you to recycle your capital and quickly move onto the next project.

Imagine having one lump of money for a cash deposit and using it over and over again instead of just once. You are literally pulling out your deposit money or lump sum of cash every time you refinance – that’s the goal.

Step 1: The Buy – Cash is King (or Bridging Loan is Your Ace)

Host: This is where the rubber meets the road. You need to find a property that has bags of potential but isn't quite reaching its full market value. Think tired decor, outdated kitchens and bathrooms, think swirly carpets, damp up the walls, or even minor structural issues. These are the goldmines for BRRRR investors. But where do you find these hidden diamonds in the rough? Where would you start to look for these properties?

Host: Let's talk sourcing. One prime hunting ground is auction properties. Auctions can be a fantastic way to snap up a bargain, often way below the market value.

However, they require quick decision-making and readily available funds.

This makes cash or bridging finance essential.

Do your research beforehand, read the legal pack and look for any red flags, inspect the property and view it, and set a firm budget. You need to analyse the deal and get your numbers and costings done. Don't get carried away in the heat of the moment!

Another area to explore is properties that have been on the market for an extended period, say six months or more. These properties might be overlooked by other buyers, or the seller might be more willing to negotiate. There's usually a reason why they haven't sold, so do your due diligence, but these can be excellent opportunities.

And finally, for the truly savvy investor, we have unsold lots. These are properties that have gone to auction but failed to meet their reserve price. Often, the auctioneer or estate agent will be keen to sell these properties quickly, and you might be able to negotiate a significant discount. This can be a goldmine for BRRRR investors.

Now, the key here is speed and securing the deal.

Sellers often favour cash buyers, so having access to funds is crucial. This is where bridging finance often comes into play.

A bridging loan is a short-term, interest-only loan secured against the property itself. It allows you to move quickly and secure the purchase, even before you've finalised your long-term financing.

Often, investors use a combination of cash and bridging finance, leveraging their available capital while using the bridging loan for the remainder. Remember, due diligence is paramount.

Get a thorough survey, understand the local market, and negotiate really hard. Don't fall in love with the property; fall in love with the deal is my biggest advice.

Step 2: The Refurbish – Unleashing the Property's Potential

Host: You've bought the property – congratulations! Now the real work begins. This is where you add value and transform the property into something desirable for tenants. Think beyond cosmetic improvements. Consider upgrading the heating system, replacing windows, or even re-configuring the layout. A well-planned refurbishment not only increases the property's value but also attracts higher-quality tenants willing to pay more rent.

Create a detailed budget and stick to it. Get multiple quotes from reputable contractors, and don't be afraid to manage the project yourself if you have the skills. Keep meticulous records of all expenses, as this will be crucial for the next step. Remember, every pound you invest wisely now will pay dividends later.

Step 3: The Refinance – Releasing Your Capital

Host: The refurbishment is complete, the dust has settled, and your property looks fantastic. Now it's time to get your initial investment back. This is where the magic of refinancing comes in. You'll approach a mortgage lender and have the property revalued. Because you've added value through the refurbishment, the property's new valuation should be significantly higher than what you initially paid.

You then secure a new mortgage based on this higher valuation. The loan amount will be higher, allowing you to pay off the bridging loan and, crucially, pull out a significant portion of your original cash investment. This is the key to the BRRRR strategy. You've effectively recycled your capital, and it’s now ready to be deployed on your next project.

Step 4: The Rent – Generating Cash Flow

Host: With the refinance complete, you're now ready to find tenants. A well-presented property in a good location should attract quality tenants quickly. Set a competitive rent that reflects the market value and the improvements you've made. Thorough tenant referencing is essential to minimise the risk of problem tenants.

The rental income generated from the property will cover your mortgage repayments, property management fees, and any other associated costs. This creates a positive cash flow, which is the lifeblood of any successful property portfolio.

Step 5: The Repeat – Building Your Empire

Host: And now for the best part: Repeat! With your initial capital recycled, you can now go back to step one and start the process all over again. This is how you rapidly scale your property portfolio. Each successful BRRRR cycle adds another income-generating asset to your portfolio, building your wealth and financial freedom.

Host: The BRRRR strategy isn't without its challenges. It requires careful planning, meticulous execution, and a good understanding of the property market.

But the rewards can be substantial. By strategically buying, refurbishing, refinancing, and renting, you can unlock the power of leverage and build a thriving property portfolio much faster than through traditional methods. Remember, the key is to recycle your deposit, turning one investment into many.

We currently have many mentees on our property mentorship program using this exact strategy and they are building monthly income and wealth. It’s game changing, when you have a plan of action and someone to support you to get you to your end goal…

So why not apply for our property basecamp mentoring program today and if we think you’re a good fit – we may just invite you to join us and become a member.

Where we support you ongoing on your own property journey and give you access to our community of likeminded people and a whole bunch of benefits like online courses and monthly 1-2-1 mentoring and support. Interested?? Check the show notes for our link to apply or visit psnpropertyblog.com

Host: That's all for this episode of The Property Side Hustle Podcast - Join us next time as we explore another exciting strategy for property success.

Until then, stay safe, and take it easy….

Rent to Rent Course Offer - Expires September 30th 2020

Get the free R2R online course right here - this offer is limited so if you click the link and the offer has ended... you missed out!

www.psnproperty.com/property-training 

Join Our Deal Sourcing Community on Facebook!

Join our Facebook deal sourcing community for lot's of great content and chat with property folk! It's a social network after all!

https://www.facebook.com/groups/dealsourcingcommunity 

This week host Paul, gives you some top tips and guidance on buying properties with tenants already in place! Get the full low-down on how to source and invest in properties with sitting tenants!

Get Free Property Training

Join Our Facebook Community

This weeks podcast is an interesting look at what personality traits make you a good fit for property or not... Paul discusses his own battles on his journey into the property sector and shares his thoughts on the ideal traits that make you a good fit for property. 

Join the Facebook Sourcing Group:

https://www.facebook.com/groups/dealsourcingcommunity 

Podcast Listener Sourcing Course Offer:

https://psnproperty.com/podcast-opt-in1611145440610 

Website: www.psnproperty.co.uk 

Property Blog: https://www.psnpropertyblog.com/blog 

In our 'Which Strategy' episodes we dive into the pros and cons of a specific strategy... this episode is: Deal Sourcing.

Paul, gives you a balanced view on Deal Sourcing - we discuss the pros and cons and tell you what you can expect to earn as a deal sourcer. Paul also covers the common misconceptions and explains why Deal Sourcing is the place to start if your new to property and with limited funds. 

Visit our website for access to Free Training: www.psnproperty.com 

Or check out our own brand of training here: www.psnproperty.com/property-training 

Host Paul, gives the step by step on a master-plan enabling you to go from day job to property, using two property strategies! This podcast will be popular with many and we hope you enjoy this one!

Free Rent 2 Rent Course Summer Offer:

www.psnproperty.co.uk/property-training

Contact Us: 

support@psnproperty.co.uk 

Paul discusses why knowledge is power in property. Also how having the right knowledge is key to success! If you have the tools in your locker to create solutions for peoples property problems... you can make money in property, over and over.

Rent to Rent Course Offer:

www.psnproperty.co.uk/s/shop 

Search for the 'Deal Sourcing Community' on Facebook and join us...

Paul is back with an ALL NEW episode on buy to let and an alternative to buy to let investing that may just be your new thing!

If you want Paul to personally help fix your property sourcing business he is offering a limited opportunity for just £99 (the link is below to book your slot) 

Book your 1-2-1 Private Workshop: www.psnpropertyeducation.com/sourcing-workshop

Visit our Website: www.psnpropertyblog.com  

We just launched a bundle of FREE property training packed with lots of free bonuses for you.

Check out the free training here: www.psnpropertyblog.com/webinar-registration

#property #propertyinvesting #propertyincome 

In this first episode of the 'mini podcast' we jump into a week of mini property education lessons. 

Today's episode is: Sourcing - Area Intelligence

Basically we show you how to break down your area into specific zones to make sourcing and investing easier. 

Each day this week we will give you a daily episode and each podcast will follow on from the last... 

The idea is by the end of this week, you will have a group of podcasts taking you on a step by step journey. 

Check out our website here for more free training: www.psnproperty.com 

Oh and please like, share and subscribe to us, so you don't miss out on new episodes!  

This is a common stumbling block for new deal sourcers - How do you talk to investors? What do you say? How do you approach it as a sourcer? How do you pitch yourself?

Well luckily Paul has all the answers and more in this episode... 

Free Rent 2 Rent Course Summer Offer:

www.psnproperty.com/property-training 

Email Paul the Host: 

support@psnproperty.co.uk 

Host Paul discusses a common issue with newbies to property - Feeling overwhelmed, unsure of how to move forward with your property business?

This is massively common and most people just need to make some subtle changes and maybe have a slight mindset shift and approach to really get going!

In this episode, we talk about how you can hit reset and power through the second half of 2021!

Links:

Deal Sourcing Special Offer (May 2021 Only)

Free Training Property Workshop

Free Property Resources

Our Website - PSN Property Education

Join Our Facebook Group - The Deal Sourcing Community 

Host Paul, dives into the story of a Property BaseCamp member who has found himself stuck overseas due to lockdown 3 in the UK. Kushal decided instead of trying to get back to the UK, he would stay on in India and spend time with his extended family. He has two property projects underway with a third around the corner.... so how did he manage it all?

Join the Facebook group community: click here

Website: www.psnproperty.co.uk  

Join Host Paul as he discusses how to approach running your sourcing business. How to get the most out of each and every day, how to focus on the important things and most importantly how to succeed where most fail. 

Property Training:

www.psnproperty.com/property-training

Join us: www.psnpropertyblog.com 

Email us: support@psnproperty.co.uk 

A funny thing happened this week... find out how host Paul,, saved a woman £15,000! 

Plus get your property mindset reset in place for 2025! 

Join Paul as he discusses how to network effectively and shares some tips and tricks you can use next time you find yourself networking. 

Weblinks:

www.meetup.com 

www.justdoproperty.co.uk

Our Property Training:

www.psnproperty.com/property-training 

Check out our Summer offer 2 for 1 offer! Click the link above and find out more. 

You can email Paul on: support@psnproperty.co.uk 

Thanks for listening 

Paul, is back after a long break away (he has a good excuse) - In this episode Paul, talks about mindset and in particular how to beat those demons that hold you back in your business!

Contact us on the show: support@psnproperty.co.uk

Show Links:

Pauls Facebook Profile 

Free Property Training

Special episode on property training 

Apply Now for Property and Business Mentoring:

https://www.psnpropertyblog.com/property-basecamp-premium

EP: 66 Feeling Lost After Doing A Property Course? Start Here with Zero B.S. and a Plan of Action

Join Paul on this all new episode dedicated to people who are feeling lost and struggling to get going with mastering creative property strategies.

Paul discusses: 

• creative property strategies
• how to finance property deals
• knowledge is power
• Paul's story and mindset

Check out the links below for further resources to help you on your property journey.

Apply for Lifetime Mentorship: https://www.psnpropertyblog.com/property-basecamp-premium

Free Resources: https://www.psnpropertyblog.com/free-stuff

Take Our Property Quiz: https://paul-2t36p3ag.scoreapp.com/

Drop Paul a message here: support@psnproperty.co.uk 

Host Paul discusses how you can get going again if your deal sourcing business is stalling or your struggling to get started. A few simple but massively effective tweaks will see you build that all important momentum and start moving in the right direction.

Free Rent to Rent Course:

Get the free R2R online course right here - this offer is limited so if you click the link and the offer has ended... you missed out!

www.psnproperty.com/property-training 

Property Data Referral Link:

Get access to a whole world of property data to take your sourcing game to a new level. 

https://propertydata.co.uk/r/4KemOeKP 

Join Our Deal Sourcing Community on Facebook!

Join our Facebook deal sourcing community for lot's of great content and chat with property folk! It's a social network after all!

https://www.facebook.com/groups/dealsourcingcommunity 

In today's daily podcast we follow on from yesterdays mini podcast and we talk about the benefits of working with Agents and the pay-off's for all that hard-work. 

Check out our website for more free training now: www.psnproperty.com 

Tune in tomorrow for Episode 3 of this weeks mini podcast... 

In this weeks episode Paul gives listeners a peek behind the curtain and shares what some of his mentee clients have been up to recently.

Get the inside story on people who have taken the plunge and discover what results and success they have enjoyed!

Visit the website to apply for mentorship and more: www.psnpropertyblog.com 

Episode 54 may well be short but it's packed full of freebies for our podcast listeners!

As a special thank you to our listeners we put together these amazing property tools and free training so here it is...

FREE Property Training

Listen to part one of Paul's - Series covering how to start and operate and scale a property deal sourcing business. Paul will dive into a different area of the business each episode, so make sure you subscribe to avoid missing out on teh next episode in this series.

Join the waiting list to be mentored one to one by Paul here

Here are the useful links from todays show to help you get set-up and compliant

Business set-up and Compliance:

• Step by Step Ltd Company setup: https://www.gov.uk/set-up-limited-company
• Step by Step Sole Trader setup: https://www.gov.uk/set-up-sole-trader
• What's the Difference? https://www.simplybusiness.co.uk/knowledge/articles/2016/04/differencebetween-a-sole-trader-and-a-limited-company/
• Company Formation: https://www.companiesmadesimple.com/ 
• AML Training Online: https://www.highspeedtraining.co.uk/courses/businessessentials/anti-money-laundering-financial-crime-course
• Register for AML: https://www.gov.uk/guidance/register-or-renew-yourmoney-laundering-supervision-with-hmrc
• Fee Structure For AML: https://www.gov.uk/guidance/money-launderingregulations-registration-fees
• Obtain AML Policies and Documents Here: https://veriphy.com/amlsolutions/aml-policy/
• Register for Data Protection: https://ico.org.uk/for-organisations/dataprotection-fee/
• Insurance Broker - LSK Insurance: https://lskinsurance.co.uk/
• The Property Ombudsman: https://www.tpos.co.uk/join-the-scheme/onlineapplication/registration-only 

Join the waiting list for mentorship one to one with Paul: CLICK HERE

This episode was inspired by an inspirational Doctor who is not content having just qualified as a Doctor he is now pushing himself into property! Who said there aren't enough hours in a day?

Listen to this if your struggling to find momentum or your struggling with motivation and mindset, this might just be the best 10 mins of your day!

Rent to Rent Course Offer - Expires September 30th 2020

Get the free R2R online course right here - this offer is limited so if you click the link and the offer has ended... you missed out!

www.psnproperty.com/property-training 

Join Our Deal Sourcing Community on Facebook!

Join our Facebook deal sourcing community for lot's of great content and chat with property folk! It's a social network after all!

https://www.facebook.com/groups/dealsourcingcommunity 

Deal Sourcers - How to Find Property Investors - In this episode: Host Paul, talks about why people struggle to find the all elusive property investor and the three no-brainer ways, you can find and build your own cash inducing list of investors to work with, in your deal sourcing business or as a JV partner. 

Get Free Property Training: https://bit.ly/308F1jD

Check out the Website: www.psnproperty.com 

Paul is back with an all new episode on how you can get started with zero of your own money and build an income using JV partners.

Find out how other people have gone from zero to earning a big income all with Paul's help and advice.

Try out the app Paul talks about here: https://share.scoreapp.com/e9f60262 

Apply for Mentoring: www.psnpropertyblog.com 

Paul returns after a break to chat about 'Planning Gain' and how you can benefit without developing anything at all!

Special Offer Lifetime Access to Mentoring:  https://academy.psnproperty.com/basecampdiscount 

Follow us on Facebook: https://www.facebook.com/psnproperty

Fridays Podcast has Paul, in pep-talk mode - Are you the type of person that lives for the weekend? Or desires a change but just can't get started... This podcast is for you!

Book Recommendations:

Living with a Seal by Jesse Itzler

Hustle Harder, Hustle Smarter by Curtis Jackson

Total Recall By Arnold Schwarzenegger 

Free Rent 2 Rent Course Offer:

www.psnproperty.co.uk/property-training 

Do you want Investors to fall into your lap every single day? (not literally!)

Well... today's episode has Paul sharing a stupidly simple way, you can have qualified investors doing that every single day. Sometimes the best options are the simplest and this is a great example of simplicity winning over complexity and costs! Did we mention that this is a completely free tactic and will only cost you your time?

FREE PDF GUIDE - Download Now!

Join Our Facebook Group - The Property Deal Sourcing Community

Deal Sourcing Course Limited Offer - CLICK HERE

www.psnproperty.co.uk 

Paul returns, to talk about the daily scourge of our email inboxes, the invite to the property webinar! Paul also talks about how to avoid failure and not be a one trick pony when it comes to strategies and income sources.

Rent to Rent Course Offer - Expires September 30th 2020

Get the free R2R online course right here - this offer is limited so if you click the link and the offer has ended... you missed out!

www.psnproperty.com/property-training 

Join Our Deal Sourcing Community on Facebook!

Join our Facebook deal sourcing community for lot's of great content and chat with property folk! It's a social network after all!

https://www.facebook.com/groups/dealsourcingcommunity 

Mini Podcast number 4 of this week see's Paul explain how you go about analysing a deal to see if it's viable based on the area and location as well as crunching the numbers!

Discover our ten steps to due diligence!

Check out our website for more free training... www.psnproperty.com 

In this episode host Paul discusses that the above is not so much an issue and actually just a straight forward process matched with the right mindset and approach to building key relationships.

Free Training: www.psnproperty.com 

A special shorter than usual episode with Paul on how to get started in property without paying big money for a property course.

Get the Offer: https://stan.store/paulproperty/p/property-sourcing-and-deal-packaging-online-course 

*the offer may end at any time*

The holy grail of property deals - the off-market deal!

Host Paul, discusses everything off-market... how to find them, what not to do and how to position yourself and take advantage of your off-market leads. This episode is a must if your an investor looking for off-market deals or if you are a deal sourcer and want to generate off-market deals for your clients! Strap in and enjoy episode 50 of The Property Side Hustle Podcast!

Free Property Workshop 

See you on the next episode for more property brainfood! 

This is our last mini episode of the week and it's all about getting the deal done and managing the sales process to achieve a swift purchase for your investor client. 

Check out our website for more free training: www.psnproperty.com 

We will be back soon with more daily podcasts the week after next... 

Host Paul discusses why education is a positive thing but why some in the property education sector sell education in unethical ways. 

Selling financial freedom in the shape of a course - is not ok and in this episode Paul looks at what to avoid, and dispels many of the big claims associated with property training. 

This one is not to be missed! 

Subscribe and leave us a review on Apple Podcasts if you enjoy the show!

Join Paul in an all new episode, as he shares how to repeatedly make money doing flips! 

Apply for mentorship program: https://form.jotform.com/240273740262349

Visit Stan Store: www.stan.store/paulproperty 

The Show Transcript:

Hi and welcome to the property side hustle podcast 

Today, we're taking a long overdue look at the exciting world of property flipping – turning tired, neglected houses into stunning homes and substantial profits. 

In today’s episode you’re going to learn the ins and outs of this fast-paced strategy, from finding the right deal to managing a refurb and then finally selling and handing over the keys to a happy buyer and banking those profits.

Property flipping, at its very core, is about buying a property below market value, renovating it quickly and efficiently, and then selling it for a profit. 

It's not just about slapping on a coat of paint; it's a strategic process that requires careful planning, market knowledge, and a touch of creativity here and there. So, let's break down the key steps to flipping success.

First up we have step 1: The Hunt – Finding Your First Property Flip

The first, and arguably most crucial, step is finding the right property.  You're looking for a diamond in the rough – a property with potential, but one that's currently undervalued.  Think about properties in need of cosmetic updates, outdated kitchens and bathrooms, or even minor structural repairs.  These are the types of properties where you can add significant value.

Remember the whole point is you have to see a property you can add value and force that appreciation in price by way of a refurb.

Where do you find these hidden gems?  Auctions are a great place to start, offering the potential for below-market-value purchases.  Keep an eye out for probate sales, where properties are sold quickly due to inheritance.  Networking with estate agents and attending property meetups can also give you access to pre-market deals. 

Repossession listings can be a great source of deals, and you can access a list of repossessed property on a website called repolist.co.uk (you do have to pay, but it’s worth it if you’re looking to buy a potential flip) and also don’t forget your good old online property portals like Rightmove and Zoopla are also valuable resources.  Remember, speed is often key in this market, so be prepared to act quickly when you find a promising lead as you might be up against other investors also looking at their next flip.

Step 2: The Numbers Game – Crunching the Costs

Host:  Before you even think about making an offer, you need to crunch the numbers.  This is where many aspiring flippers fall down.  Don't just focus on the potential sale price; meticulously calculate all your costs.  This includes the purchase price, of course, but also legal fees, stamp duty, renovation costs (be realistic!), also any holding costs (like mortgage payments and council tax during the renovation), and your selling costs (estate agent fees, etc.).

Get multiple quotes from contractors for the renovation work.  Don't just go for the cheapest option; prioritise quality and reliability.  Factor in a contingency fund for unexpected expenses – because, in flipping, there are always unexpected expenses!  And finally, be realistic about your profit margin.  Don't get greedy.  A healthy profit is good, but overpricing can lead to a property sitting on the market for too long, eating into your profits.

There’s market value and then there’s priced to sell. So, think about those holding costs if you’re going to take 6 months to sell the damn thing.

You’d be surprised how many people forget this end of the flipping process.

Step 3: The Renovation – Transforming the Space

You've secured the property, the numbers stack up, and now it's time to get your hands dirty – or, more likely, oversee the contractors.  This is where your project management skills come into play.  Create a detailed renovation plan, set a timeline, and stick to it as closely as possible.

This is called a schedule of works – this details, what happens and when and in what order things will happen. It helps keep things moving along smoothly.

Focus on the areas that will have the biggest impact on the sale price.  Kitchen and bathrooms are usually a good investment. (But you can easily over-spend here too, so does the kitchen need a complete over-haul, or can you use the units and just replace the doors and worktops? Doing this can drastically cut your costs by over half.

Also look at kitchens and bathrooms on resale sites like Facebook marketplace as you may pick up an absolute bargain for an almost new kitchen or bathroom.

Consider updating the flooring through-out but try stay away from that awful grey carpet. I remember years ago many landlords and investors would paint all the walls magnolia and the carpets would be a rough weave of magnolia too.

Nowadays the colour is grey! Want to stand out when you sell, don’t make it look like there’s 50 shades of grey in your property, it’s drab and it screams basic and cheap.

Consider repainting and improving the curb appeal.  Don't forget the small details – things like new door handles, light fixtures, and landscaping can make a big difference.

Talking of the garden most people overlook the outside spaces and just make it presentable and that’s it. Getting a premium price means putting in some creative effort and most gardens are bog standard so if yours has some nice features then it will stand out a mile when marketed for sale. A nice garden can get viewings alone!

Keep the style modern and neutral to appeal to a wider range of buyers.  And, of course, ensure all work is compliant with building regulations.

If there has been any major construction work, like knocking down walls, building of extensions, new heating systems, new electrics etc then you’ll likely need to ensure it all meets building regs standards and this will need to be certified before any sale takes place. So, get your ducks in a row and make sure you have this taken care off before advertising the property.

Step 4: The Marketing – Showcasing Your Masterpiece

The renovation is complete, and your property looks amazing. Now it's time to shout about it!  Professional photography is essential.  High-quality photos will showcase your property in its best light and attract more potential buyers.  Make sure the agent is aware of any stand-out features and have them write their best ever property description highlighting the key features and benefits.

You might also consider using a property staging company at least for the photos. An empty property never photographs well. It’s hard for potential buyers to picture which room is what and how they would live in the property. New builds have show homes for a reason, they sell the dream and have people signing up left right and centre because they fall in love with the décor and design of the furniture…

Want a premium price? Consider staging your property there are many companies now who offer this for very reasonable rates.

You've received an offer – congratulations!  Negotiate wisely but be prepared to compromise.  Remember, you're in the business of flipping, so holding out for the absolute top price might not always be the best strategy.  Once you've accepted an offer, work closely with your solicitor to ensure a smooth and efficient transaction. Delays with solicitors are often just one solicitor waiting for information from the other solicitor, so make sure that nobody is waiting around for you to provide information.

And that's it!  You've successfully flipped a property.  Now you can take your profits and move on to your next project.  Remember, property flipping is a business.  It requires hard work, dedication, and a keen eye for opportunity. But with the right approach, it can be incredibly rewarding, both financially and personally but what’s my takeaway from the strategy…

Next up I’ll share my thoughts but first...

Are you struggling to make waves in property? Maybe you’re ready to follow your passion for property, but you don’t know how to start…

Well, we have a mentor program that’s unique in the UK.

We offer select people an amazing package called property basecamp

Unique, because we offer to work with you for as long as you need us too. We help you on your property journey every month, every day with support, guidance, help and education.

Another unique part of all this is…. We don’t charge an arm and a leg to support you ongoing… no we only charge one set fee, and we have payment plans if you’d prefer to spread the cost.

That fee gets you a 1-2-1 video call every single month, that call is with me to help get your property journey set on the right tracks and to help you ongoing for as long as you need us. Plus, you get access to multiple online courses too and many other benefits.

So, if you want help and a friend in your corner to support you and answer your questions 1-2-1 then apply for property basecamp today and if we think you’re a good fit – we will be in touch with you.

Make your property dreams and your goals reality with me at your side...

In today’s episode I have shared the basic process of property flips in the UK but what are my key takeaways I can share with you…

What I know is success is 100% repeatable with flips if you follow a set-path and you don’t make these very common mistakes.

Rule Number 1: People often get their numbers wrong.

They pay too much for the property, they under-estimate the cost of the works, and they over-estimate what they can sell the property for.

This is super common and any one of these could completely wipe out any profits you may have had.

It’s vital your numbers are sensible without being over cautious.

Rule Number 2:  We Get Emotionally Involved

By this I mean I see time and time again that people, over develop and spend too much money. You’re looking to improve a property not create the best 3 bed property on the planet. It’s super common to see people putting in expensive kitchens and bathrooms with integrated appliances and top of the range gadgets.

Yes, it’s going to look amazing, but will you get that money back in the sales price? Probably not. My advice is to stick to a budget and to decide on the level of spec beforehand.

You cannot go basing your investment on a spreadsheet before you buy and then during the refurb your spending extra cash left right and centre creating some dream home.

By all means create a good end product but you need to not over-develop by getting emotionally involved. You’re not going to live in the property. Its going to be sold, concentrate on the numbers at all times.

Rule Number 3: Lack of Contingency

OK so many people work out the assumed cost of the works and forget they need a contingency, or they have a very small contingency that is just not realistic. In my experience there will always be things that cost more than you expected. There are sometimes issues you uncover that you had no idea existed and now they need to be fixed. These things again can de-rail what was a great deal.

My advice is make sure you have a 10% contingency on basic refurbs. If the refurb is back to brick and you know you have potential issues with damp, roofs electrics, structure then you need a 15% contingency on top of the assumed cost of works.

That way you have what I call wriggle room, and it won’t hurt your bottom line too much if at all.

If you can avoid these mistakes, then property flipping is a fab way of generating an amazing cash-flowing property business.

No tenants, no headaches with managing agents, no worries about non-payment of rent and a process that if followed in the right manner will repeatably give you success after success and put money in your bank.

Now I speak with lots of people, and many are wanting to avoid tenant issues and looking at flips, so I hope you enjoyed this episode and it gave you food for thought… Remember if your looking for my help on your property journey then apply for property basecamp today over at psnpropertyblog.com or check the show notes for the links.

That’s it for today’s episode please like and follow our podcast for more property insights, next time I’m going to be talking about another creative strategy so make sure you tune in for that one…

Till next time, stay safe, and take it easy

Today we discuss the pros and cons of sourcing via Agents or going Direct to Vendor! Paul share's his experiences and tips on how you can get started sourcing deals.

Free Rent to Rent Course - Summer Offer

www.psnproperty.com/property-training 

*to get the free course you have to purchase the deal sourcing course

Contact Paul with your property questions here: 

support@psnproperty.co.uk 

In this episode Paul (former agent) talks about why agents should consider offering sourcing as a service to landlord clients. It makes perfect sense for agents to offer a more complete service from beginning to end. 

Sourcing properties, letting properties, managing properties and all the associated income streams that follow seems like a no brainer!

Details on the Property BaseCamp Programme:

www.psnproperty.co.uk

The Deal Sourcing Facebook Group:

https://www.facebook.com/groups/dealsourcingcommunity 

Join me as we talk about things you should not do as a property sourcer! The daft thing is... many people are guilty of these sourcing sins!

Join The Facebook Group: https://www.facebook.com/groups/dealsourcingcommunity

Watch Our Free Workshop: https://psnproperty.com/optin1615984250597 

Why would an agent give you R2R deals is a great topic and the key is understanding the pain the agent has and then supplying the medicine! So this episode is all about positioning yourself and selling the solutions to the common problems agents suffer from...

Free Rent to Rent Course:

Get the free R2R online course right here - this offer is limited so if you click the link and the offer has ended... you missed out!

www.psnproperty.com/property-training 

Property Data Referral Link:

Get access to a whole world of property data to take your sourcing game to a new level. 

https://propertydata.co.uk/r/4KemOeKP 

Join Our Deal Sourcing Community on Facebook!

Join our Facebook deal sourcing community for lot's of great content and chat with property folk! It's a social network after all!

https://www.facebook.com/groups/dealsourcingcommunity 

In this episode host Paul, discusses how you can stop being financially insecure from having only one income source. The solution to the problem and how you can get involved in starting your own property side hustle no matter your budget is... 

Free Property Training: CLICK HERE

Website: www.psnproperty.com 

If you have lost motivation, hit a wall, struggling to get going with your property business... your not alone and it's super common. Listen to this episode as Paul gives you some tips on forming new habits and processes that could change your fortunes and send your business into the stratosphere!

Free R2R Course Offer - CLOSES SEPT 30th 2020

www.psnproperty.co.uk/s/shop 

Explicit Warning! In this episode Paul finishes the week with a rant and pokes a bit of fun at certain elements of the property world! calling b.s. on a few things and having a laugh along the way. This is one not to be missed!

Rent to Rent Course Offer - Expires September 30th 2020

Get the free R2R online course right here - this offer is limited so if you click the link and the offer has ended... you missed out!

www.psnproperty.com/property-training 

Join Our Deal Sourcing Community on Facebook!

Join our Facebook deal sourcing community for lot's of great content and chat with property folk! It's a social network after all!

https://www.facebook.com/groups/dealsourcingcommunity 

EPISODE 14: Want to Get Started in Property, But All the Courses Are Too Expensive?

Listen as Paul talks about the issues of getting a property education. Who can you trust? Who should you avoid? Paul also shares a little about his own journey and explains why PSN Property Education exists and how you can get a discount this month on joining us! 

Here is the Discount: https://bit.ly/3desxva 

Find Free Training Here: www.psnproperty.com

In this semi-regular episode we discuss your questions surrounding property sourcing - and we answer and give our opinion. So if you have a burning question you would love to know the answer to.. Contact us here: support@psnproperty.co.uk 

If property education is something that interests you... but you don't want to pay tens of thousands for courses check out the home of affordable property training and bag yourself lots of bonuses and lifetime access right here: www.psnproperty.com/property-training 

This episode is a break from the norm... we are discussing property education and in particular the unethical and mis-leading tactics some education providers use to sell courses. So join Paul Rose for this latest and special edition of the Property Side Hustle. 

Weblinks:

Debt Advice: www.stepchange.org 

Just Giving Page for Danny Butcher's Family: http://bit.ly/DannyButcher 

Affordable Property Education Information:

Email me: support@psnproperty.co.uk 

Visit us: www.psnproperty.co.uk/s/shop/ 

FREE Education and Community in our Facebook Group:

http://bit.ly/propertyfbgroup 

Listen as Paul talks about all things automation... learn about useful tools, apps and programs you can use to make your property business more passive. 

Paul also shares his favourite books of 2019 and shares his favourite podcast playlist too..

Below are all the show links including the links for the affordable property training (just in case you want to save some £££'s this month)

Show Links:

Arthur Property CRM - https://www.arthuronline.co.uk/ 

Trello - https://trello.com/en-GB

Podio - https://podio.com/site

Mailchimp - https://mailchimp.com/

Property Data - https://propertydata.co.uk/r/4KemOeKP 

Books:

Duncan Bannatyne - Anyone Can Do It - https://www.amazon.co.uk/Anyone-Can-Do-My-Story/dp/0752881892/ref=sr_1_1?keywords=anyone+can+do+it&qid=1574182913&sr=8-1 

Tim Ferriss - Tools of Titans - https://www.amazon.co.uk/Tools-Titans-Billionaires-World-Class-Performers/dp/1785041274/ref=sr_1_1?crid=35C0IG8X7OQ4P&keywords=tim+ferriss+tools+of+titans&qid=1574182957&sprefix=Tim+Ferris%2Caps%2C168&sr=8-1

Ant Middleton - First Man In - https://www.amazon.co.uk/First-Man-Leading-Ant-Middleton/dp/0008245738/ref=sr_1_1?crid=3FCSRL7Q4Y9TN&keywords=ant+middleton+first+man+in&qid=1574183017&sprefix=ant+%2Caps%2C155&sr=8-1 

Podcasts: 

1. The Property Podcast
2. Bigger Pockets Podcast
3. Reply All (listen episode 64 'inside man' first!)

For the Black Friday Property Course Deals VIP Package -  https://www.psnproperty.co.uk/product/vip-pass-access-all-areas-unlimited-property-education/22?cp=true&sa=true&sbp=false&q=false

For All Black Friday Deals Visit - www.psnproperty.co.uk/s/shop/ 

Till next time, take care and take it easy

#property #propertyeducation #psndoitbetter 

This one is not just for newbies, if your stuck and don't know how to get going again... give this episode your full attention! Join Paul as he talks through the most common mistakes and how to overcome them too. 

Danny Butcher - Just Giving Page

Please give what you can to help out Danny's family. To read more on Danny's story and the sad circumstances he found himself in and to help out his family please click this link: http://bit.ly/DannyButcher 

Affordable Property Training

PSN Property Education: www.psnproperty.co.uk/s/shop/ 

VIP Package: http://bit.ly/propertyvippackage 

In today's podcast Paul talks about must use property sourcing tool's and software to up your sourcing game. With the focus on organisation, sourcing, analysing and even packaging deals. 

Property Data Referral Link:

https://propertydata.co.uk/r/4KemOeKP 

Host Paul gives you the inside story on how long it takes to earn money using different property strategies. This episode focuses on Deal Sourcing... 

Discover how long it takes and why...

Useful Links:

https://flow.page/psnproperty 

Part one of our series on - how to start a deal packaging business. 

In this episode we discuss how you can start your own deal packaging business, we cover the sourcing compliance you will need to adhere to and also how to start finding those all important investors! 

In the pod we mentioned to check the show notes for the all important links so here you go:

Get the FREE GUIDE to Property Sourcing and the special offer here: https://bit.ly/2FAi0Nf 

Property Redress Scheme - https://www.theprs.co.uk/ 

ICO (data protection) - https://ico.org.uk/for-organisations/data-protection-fee/ 

AML (anti-money laundering) - https://www.gov.uk/anti-money-laundering-registration 

The Property Side Hustle Pod will be away for a couple of weeks on our holidays till the end of July, but we will then be back with Part Two and we will delve into property sourcing itself!

If you want to learn more and discover the UKs most cost effective property training fro yourself then visit our website here: www.psnproperty.co.uk 

Till next time, stay safe and take it easy. 

Paul

In this second part of the 'Deal Packaging Business Start-Up' series we discuss how to find the deals, marketing tactics you can use to obtain off-market deals and we cover sourcing too. 

Here is the link for the website mentioned on the podcast (the one that helps when sourcing with lots of awesome data points and tools too!)  

https://propertydata.co.uk/r/4KemOeKP this is an affiliate link which means I earn a property data credit worth £75 but it means you earn the credit too! Full details are on the property data website so please check these. 

PODCAST LISTENER OFFER:

https://bit.ly/2ZZYl1g this is the link for the 60% discount on PSN's upcoming Rent to Rent online course which launches sometime in October. Again full details can be found on our website at www.psnproperty.co.uk/s/shop 

Till next time, stay safe and take it easy...

email the show at: propsourcenation@psnproperty.co.uk 

The final episode of the series is here! At last! 

Apologies for the delay in this one going live... You will hear the excuses on the podcast (there is a bit of coughing, apologies!)

In this final episode of the mini three-part series you will learn how to analyse deals, what due diligence you need to do, we will also cover how to go about crunching the numbers too. We finish up by how telling you how best to present your deals to investors too. 

The usual words of wisdom and with a few stories along the way.

Web-links:

Hometrack - You can obtain property data to help with your due diligence - making you sound like the expert find it here: https://www.hometrack.com/uk/ 

Property Data - This is a fabulous website you can use for data and also for sourcing too... find it here: https://propertydata.co.uk 

Street Check - Another website packed full of interesting data right down to street level as the name suggests. Find it here:  https://www.streetcheck.co.uk/

Join our Facebook Group - http://bit.ly/propertyfbgroup (The Property Education Community)

Affordable Property Education? - Find it here: www.psnproperty.co.uk/s/shop/ All PSN courses will increase in price on December 1st 2019 so be sure to take advantage of the low course costs now! 

Deal Packaging & Sourcing Course Just £149

Rent to Rent Course Just £149

Assisted Sales Course Just £149

and the VIP PACKAGE - Access All Areas will be £699 but it's only £447 till December 1st 2019! This one gets you access to all the courses plus access to all courses released in 2020 by PSN Property Education - The Home of Affordable Property Education.

Till next time, take it easy