This week, Simon talks you through the creative ways in which you can offload properties that are costing you money, and also to give you a better insight into why property owners might agree to a purchase lease option. KEY TAKEAWAYS The great thing about auctioning properties is that when the hammer goes down, you get paid within 28 days. A purchase lease option provides a win-win for buyer and seller. If you find yourself a tenant buyer, they can movie in immediately with the right to buy at m...
Jun 21, 2021•12 min•Ep. 90
In this week's show, the third of a five part series about Purchase Options and Purchase Lease Options, Simon talks about the ways in which you can upgrade the place in which you live, in particular, how you can go from renting to owning your own home without the need for a large deposit or mortgage, or simply increase the size of the home you do own. KEY TAKEAWAYS By living in a property on which you hold a Purchase Lease Option, you still retain the benefit of potential capital growth. Be real...
Jun 14, 2021•14 min•Ep. 89
In Part Two of his five-part series about Purchase Options and Purchase Lease Options, Simon talks you through the ways in which you can flip property without actually buying it, meaning you'll need less cash and make a higher return on your investment. KEY TAKEAWAYS Flips typically involve finding properties in need of improvement, working on it so as to increase its value, and then selling on at a profit. This usually involves buying the property at the beginning of the process. Instead of buy...
Jun 07, 2021•13 min•Ep. 88
In the first of a five-part mini-series all about purchase options and purchase lease options, Simon examines the purchase option strategy, and discusses why you should be using them as part of your property investing toolkit, which strategies they can be used, and when to use them most effectively. KEY TAKEAWAYS The Purchase Option strategy is where you as the buyer have a contract stating that you have the right to buy their property, but not the obligation to purchase. The Purchase Lease Opti...
May 31, 2021•14 min•Ep. 87
This week, Simon talks all about property auctions, and gives you his ten personal do's and don't's that'll help you to get the properties you want at far lower prices, and help you to avoid making the cardinal errors that so many people make at auction. KEY TAKEAWAYS The number one reason for selling a property at auction is to get it sold quickly! Buyers exchange contracts on the very day they bid, so the whole process is extremely streamlined. A low guide price isn't the purchase price. Bear ...
May 24, 2021•15 min•Ep. 86
Many potential investors hear much about how they can use other people's capital in order to get started, but where do you start? In this week's show, Simon talks you through the ways in which you can approach and attain money from others. KEY TAKEAWAYS Traditional lenders all like to ensure that you some skin in the game - that you have something at stake in the investment. Obtaining a letter from your source of money may solve the issues that lenders might have. They much prefer it when the mo...
May 17, 2021•12 min•Ep. 85
In this week's show, Simon explains the BRRRR strategy - otherwise known as Buy, Refurbish, Refinance, Rent and Repeat - or as Simon calls it, momentum investing! KEY TAKEAWAYS The BRRRR strategy is the fastest way to grow your portfolio, as each deal's refinance value allows you to swiftly move on to the next. Not just any property will work for BRRRR. You have to be able to add value to the property in order to make the strategy work. By refurbishing in a stylish and pleasing way, you'll set y...
May 10, 2021•13 min•Ep. 84
In this episode, Simon talks about investment mortgages - the six most common mistakes people make, and how you can avoid them by thinking very differently about mortgages and how they work. KEY TAKEAWAYS People ask their bank about investment mortgages, but unfortunately, they're not the right people to ask, and so bad advice can often be given. This can lead to a string of assumptions that simply aren't true. Find a truly independent mortgage broker who has unlimited access to the entire marke...
May 03, 2021•16 min•Ep. 83
This week, Simon talks about a rather controversial point – that why, as property investors, you must never sell your properties… KEY TAKEAWAYS Strategies change over time as gain more experience and a wider view of the property journey we wish to take. We should always embrace a changing perspective. The main problem with selling a property is that at the moment of sale, you crystallise the profit, and will never make another penny from it. If managing a rental property is not your calling, you...
Apr 26, 2021•15 min•Ep. 82
This week, Simon tells you how you can replace your income with only three properties, using strategies that have worked for his many students, allowing them to achieve financial freedom. KEY TAKEAWAYS Most HMO properties should be making you a profit of around £1000 per month. That means that for the average person, who earns around £3000 per month, only three of these properties are required in order to replace their income. An HMO is a property with three or more unrelated tenants. Smaller HM...
Apr 19, 2021•16 min•Ep. 81
This week, Simon talks about the most common myths associated with the HMO (Houses of multiple occupation) strategy, and why they might not be as true as you think. KEY TAKEAWAYS There's an oversupply of HMOs and so you shouldn't do them - This is only half true. Most HMOs are very average in terms of spec. Be better and you'll definitely attract more clients. They're far more work than single-let properties - It's not really a fair comparison. In many cases, the workload is actually less in ter...
Apr 12, 2021•19 min•Ep. 80
In this episode, Simon tells you how you make sure your property is always fully let, which will help you avoid the dreaded "void periods". KEY TAKEAWAYS When a property stands empty, it is costing you money. Make sure the properties in your portfolio are all assets and not liabilities! Sometimes work needs to be done to a property before you can move people in. Be as quick as you can, and remember to advertise the property as soon as you are able. Before you rent out the property, always check ...
Apr 05, 2021•14 min•Ep. 79
This week, Simon talks about the Buy-To-Let strategy, and asks the thought-provoking question of whether it might be soon consigned to history. The answer may surprise you... KEY TAKEAWAYS Buy-To-Let is a general term that encompasses a few different strategies in property investment. In essence, it is the practice of buying a property with the intention of leasing that property to a renter in some way. It's important as property investors, to diversify the strategies you use when it comes to yo...
Mar 29, 2021•15 min•Ep. 78
In this week's show, Simon will teach you how to buy property below market value in a booming market, meaning that this very podcast could save you tens of thousands of pounds! KEY TAKEAWAYS Mindset and belief are the most important factors in buying during a booming market. Rule No 1 in Property Magic is that we always want to buy from motivated sellers. The national statistics say that 1 in 3 property sales fall apart. This equates to around 36% of deals. You need to remember that if you've fo...
Mar 23, 2021•16 min•Ep. 77
This week, Simon shares the secrets that'll allow you to achieve twice as much in half the time, including the strategies that he personally utilises each day. KEY TAKEAWAYS Time is your most valuable asset. We can always grow wealth and make money, but we are always limited in the time we have. The benefit of property investment is that the income you make can be used to replace the money you need to make through working. This gives you more time, which is the most valuable asset of them all. G...
Mar 16, 2021•12 min•Ep. 76
This week, Simon takes a look at the recently announced 2021 budget for the United Kingdom, talks about how the changes may affect your property investment plans, both current and future, and also discusses why maybe the outlook for property investors isn't quite as bad as the media may have led you to believe... KEY TAKEAWAYS Many speculated that capital gains tax would rise in this budget, but that hasn't proven to be the case. It's worth recognising that media speculation can have a negative ...
Mar 09, 2021•14 min•Ep. 75
In this week's show ,Simon shares the three reasons why virtual networking is better than being in the same room, why networking is crucial to your property success, and how to get the most out of virtual events. KEY TAKEAWAYS The main benefit to virtual networking is that there's no travel involved. You can do it from anywhere, and at any time! Your net worth is your network. The more people you know, the more experience and wisdom you have at your fingertips. Think about what you want to achie...
Mar 02, 2021•13 min•Ep. 74
This week, Simon talks you through the six key signposts you need to watch for in order to recognise a good deal in property. KEY TAKEAWAYS Look for properties with instant equity. If you can find a motivated seller and gain yourself some instant equity, you're already in profit. Make sure you only buy properties in areas where there is strong rental demand. You want to be able to rent it our quickly in order to minimise void periods. Look for properties in which you can add value. If you can't ...
Feb 23, 2021•12 min•Ep. 73
In this week's show, Simon talks you through how to conduct your due diligence when investing in property - one of the most important and fundamental processes in ensuring that costly errors are avoided. KEY TAKEAWAYS Due diligence allows us to recognise a good deal, but also to help us recognise a bad deal. Through careful evaluation, we can make sure that expensive errors can be avoided. The very first thing to think about is the area in which you wish to invest. Initially, you will want to st...
Feb 16, 2021•16 min•Ep. 72
In this week's show, Simon talks about how you can find property deals during lockdown, and through this unprecedented time of uncertainty. As Simon discusses, there are still deals to be found, and in this episode, he'll tell you how. KEY TAKEAWAYS Viewing properties has become slightly more difficult, but the market is still open, and will remain so, unlike during the first lockdown. After the first lockdown, a stamp duty holiday was introduced, meaning that 2020 saw a property boom as sellers...
Feb 09, 2021•15 min•Ep. 71
In this week's show, Simon talks you through the seven-step process you need to follow in order to achieve financial independence in the next twelve months! KEY TAKEAWAYS The first step is to work out exactly how much you need in order to get by each month. This is entirely separate from the amount you want. Without a clear, focussed reason behind your desire for financial independence, it becomes all too easy to give up when things get difficult. Recognising the starting point you're at, allows...
Feb 02, 2021•14 min•Ep. 70
In this week's show Simon discusses the seven most common reasons or excuses he hears, for people not wanting to begin their property investment journey, and why with just a little insight and re-framing, you can overcome any of them! KEY TAKEAWAYS Many see a lack of capital upfront as a stumbling block, but there are many creative strategies out there that require no money to get going. Deal sourcing on behalf of others is a superb way of making money for yourself, building relationships with i...
Jan 26, 2021•18 min•Ep. 69
In this week's show, Simon shares with you a simple secret, that if implemented correctly, will double the number of property deals you can complete. KEY TAKEAWAYS Always be actively seeking deals - through agents, landlords or vendors. Part of the process is making an offer. If your first offer is accepted, then you've paid too much. You need to follow up - the money is in the follow up. To get the best deals, focus on finding and helping motivated sellers. No doesn't mean no forever. It means ...
Jan 19, 2021•13 min•Ep. 68
In this episode, Simon explains Tenant-Buyer Strategy. This works well for both experienced and new buyers. A great follow-on from the previous episode (66) where Simon talked about whether you should rent or buy your own home. Listen in today for Simons knowledge and advice on this strategy, from both sides of the table! KEY TAKEAWAYS Being a ‘sandwich’ buyer can be a risky strategy and something Simon would not recommend. It’s much easier to do the Tenant-buyer Strategy that Simon talks about ...
Jan 12, 2021•16 min•Ep. 67
Many rush to buy their own home as soon as possible, but are there benefits to renting instead? In this week's show, Simon talks you through the pros and cons of both, and discusses why you might want to change your thinking depending on the investment strategy you choose. KEY TAKEAWAYS Most view their home as an asset if they buy. This is certainly a long term view, but in the short term, remember that mortgage payments come out every month, and can be very expensive. Owning a home is to have a...
Jan 05, 2021•15 min•Ep. 66
Life as a property investor would be far easier if there was one strategy that fitted for everyone, but different deals require different approaches. With this in mind, Simon presents a guide to determining which strategy could work best for the deal you're trying to close. KEY TAKEAWAYS Your chosen strategy will depend on two factors: what is happening in the property market at the time, and what you personally want to achieve. Due to the financial effects of the lockdown, many businesses no lo...
Dec 29, 2020•14 min•Ep. 65
In this week's special episode, Simon shares one of the most invaluable secrets from his Property Magic training course - his 10-Step Process for raising private finance - thereby allowing you far greater freedom for investment even if your own funds run low. KEY TAKEAWAYS Investors can receive a far greater return on their money by investing. Letting it stagnate in a bank account provides little growth. You can sell your ideas and deals to investors this way. Make a list of all the people you k...
Dec 22, 2020•23 min•Ep. 64
Many feel that they are limited in their investment plans by lack of financing. But as Simon discusses in this week's show, if you do your best to find good deals, then it's far easier to find finance in the form of investors or joint-venture partners. KEY TAKEAWAYS Your investing destiny relies heavily on the people you surround yourself with. If no one in your circle has money for investing, then perhaps you need a new circle... Often those with money don't always have the time to go and find ...
Dec 15, 2020•16 min•Ep. 63
Repayment mortgage, or interest-only mortgage? That's the question everyone has to consider when it comes to buying a property. The route you choose will depend on the strategy you're following. In this week's show, Simon talks you through the benefits of each, and discusses which strategies work best with both. KEY TAKEAWAYS The mortgage on your own home needs to be paid off by the time you retire. This is because when you retire, your lender will assume that your income will significantly drop...
Dec 08, 2020•13 min•Ep. 62
The property investment world is all about increasing the value of our investments at all times. In this week's show, Simon talks you through the six main principles of making sure your property's value is always on the rise. KEY TAKEAWAYS Purchasing a new-build, or house to which no real improvements are necessary, can be attractive, but it also limits the potential value increase, and can tie up your deposit. Reconfiguring a property means you can add more rooms to a property, which in turn ad...
Dec 01, 2020•15 min•Ep. 61
