Interviewing Mark Homer from Progressive Property
Episode description
How can you create cash flow and grow your wealth through acquiring businesses and commercial real estate?
In this first episode of The Art of Acquisitions, Dan interviews Co-Founder and Owner of Progressive Property, Mark Homer. Mark talks about his journey into the property world including wins, failures and much more.
KEY TAKEAWAYS
- Mark started toying with the idea of acquisitions in 2003. Then in 2005 he began buying small terraced houses in his local area, he then met Rob Moore and they built the foundations for Progressive property from there.
- Mark noticed that during the credit crunch commercial property was becoming very cheap. He then began buying and converting them into residential accommodation.
- There are so many wheels turning, so many things that can easily change when you are developing property that's it's absolutely vital that you have JCT for protection.
- From 2011 Mark was steadily buying up more and more offices and pubs as well as retail spaces. The biggest project he has bought more recently is the old Marks and Spencer's retail space in the heart of Peterborough city centre. Many people would look at it as too much of a challenge but Mark had a lot of experience by this point, he knew there were risks involved but did all his due diligence and went for it.
- After an issue with his first building contractor going into administration on the M&S project Mark decided he had enough experience to source people to do all of the work they needed himself. He contacted all the people that had previously been working on the project to ask if they would work with him directly. He managed to get many of them to agree so inadvertently created his own construction company!
- Then the pandemic hit, but as Mark has demonstrated time and time again he found a way forward, his team didn't down tools at all they just found ways to get things done in a safe way. Mark knows how to react and adapt to anything that is thrown his way.
- Relationships are the key to success. If Mark didn't build the relationships in the way he does he wouldn't have been able to overcome so many hurdles throughout his acquisition journey.
- Getting the right quality surveyor is worth their weight in gold. They will ensure you are not being taken advantage of by the works being done and save you so much money.
BEST MOMENTS
“I've been stung!”
“It was the biggest structure the steel contractor had done”
“The whole thing blew up, you immediately took action went to their doors and then started your own construction company”
“It was so easy for me to say we're not doing this and pull out, but I didn't”
“Surround yourself with superstars in their specific niche”
“I don't like regrets, I see them all as times to learn”
ABOUT THE GUEST
Mark Homer
Mark has bought, sold or has managed around 1,000 property units for himself, Rob, his family and his investors since 2003. He is a system and spreadsheet geek and has developed a complex, confidential deal analyser system of buying residential, commercial and multi-let properties.
Email: Markhomer@progressiveproperty.co.uk
ABOUT THE HOST
Dan Taylor
Dan has completed over 36 transactions with a value in the tens of millions, though more importantly, he has added significant value by combining creative commercial property strategies and business buying strategies.
Working with existing property investors and SSAS Pension owners. Dan helps accelerate your income, grow your wealth and reclaim your time to live life on your terms.
Dan believes acquisitions are simply the fastest route to create cash flow and generational wealth.
Dan loves to help investors create cash flow and grow their wealth by investing with him.
Dan and his team do the deals so you don't have to.
Do you have a SSAS Pension or cash that's not producing income and simply don't have the time to do it yourself, then get in touch and if you qualify you may be able to invest with us acquiring businesses and commercial property.
CONTACT METHOD
Clubhouse: @taylorcapital
This show was brought to you by Progressive Media
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