Only The Best Property Deals Will Do

You may be trying to buy properties , you may be trying to do rent to rent deals in serviced accommodation or HMOs , whatever . This will help you in all of those . Okay , so there is no one size fits all when it comes to these , but fundamentally , you need to make sure that you have these in check .

Okay , so you need to , first and foremost , be able to understand what a good deal is . What do I mean by that ? Well , if you're going to go in and negotiate on any property deals whether it's rent to rent , buying , purchase , lease options , deal sourcing , you name it you've got to understand what a good deal is to you .

You need to know your numbers , okay , and you need to be able to work your numbers out relatively quickly . Now , one thing I will say to that is never feel rushed . Never feel that when you turn up on the spot , that you have to make an offer .

Then and there , in fact one of my coaches told me in the past he actually says to people listen , I'm going to walk around your property with you today and no doubt I probably will make you an offer , but it won't be today .

So let's get that out of the way and let's go and have a good chat , walk around the properties and let's just enjoy our time together . So for argument's sake , let's just say you're looking at doing short-term rental , serviced accommodation , but you find yourself looking around an HMO .

Now some people who are the amateurs will be thinking to themselves how can I make this HMO work for serviced accommodation when fundamentally it won't ? Okay , now , in some instances it can , but normally it doesn't . And of course , if you do start running a serviced accommodation with a licensed HMO , you risk the landlord losing their license .

So it's not really worth doing all of those sort of things . But if you find yourself looking at an HMO and you are looking at maybe doing an HMO for professionals , which is , you always want to be at the top sort of area when it comes to doing HMOs .

You don't want to be at the bottom because that's where the noise is , that's where it's very , very busy . So you want to be looking at maybe professionals , maybe young professionals , depends . Really work out what it is and what your target market is before you go into those properties so that you can see if it fits .

Trust me , I always say there's opportunities out there , there's opportunity everywhere , but it goes past some of us . Why ? Because we're not looking for the right things . If you know what it is that you're looking for , you will be looking for the right things . So make sure you get a clear understanding of that and just sit down and work it out .

Also , determine your ideal outcome and establish the top limit I can go to . When I'm making an offer on a property . Forget about what the landlord wants , forget about the price , forget about the market value , forget about what rents they want or what price they want if they're selling it and things . What can you pay ? What makes this property a deal ?

Do not get hung up in what they're saying . They say that they want this . You have to pay this . No , no , no . What works for you ? Get an understanding of that . I always say the numbers never lie . A deal isn't a deal unless it's a deal . You have to make sure that the numbers stack . See , if you do this correctly .

It'll help you stay focused and avoid making impulsive decisions that potentially you will regret or that do not align with your investment objectives . So if you're looking at doing rent to rent and you're looking at taking on the HMOs , you need to know my clientele is young professionals .

Ok , anybody that's within the age of 20 to 35 , that's who I'm looking for . I want to make co-living as part of my business structure , so I'm looking for properties that are already in a decent , high standard .

Looking for landlords or investors to work with that understand the importance of working with a company like mine , because we will maintain the property and look after the property and keep it to the highest of standards . Ok , those are the sort of things that you want to be looking for and you will attract it to you if you know what you're looking for .

If you don't have a clue , you'll attract anything , and that is where I see a lot of people get stuck and also struggle . Know your strategy that you want to do on somebody else's property inside out , inside out so pay for some education if you have to . Okay , don't wing it .

As the old saying goes , you don't know what you don't know , so don't expect people to take you seriously , people to want to work with you If you don't know what you're doing 100% ? Why ? Because if you don't believe in yourself , they won't believe in you either .

You need to know that you can follow through and do what you say you are going to do and make sure that , if nothing else , you are determined to get the results that you promise people .

So when you start getting out there and meeting people , you want to be looking at building up rapport , establishing a positive rapport with the seller or , of course , with the landlord , depending on the strategy that you're doing . Don't start negotiating with people at the very beginning . Just start talking to them .

Okay , you don't really want to be talking about numbers too much or anything like that . You just want to be finding out more about the property . And , as I always say , you're not looking for a property . Now you'll say , mark , you're crazy . What are you on about , man ? Of course I'm looking for a property .

Listen to me , listen to me , hear me out , hear me out . You're looking for a problem ? Okay , I've never done a deal with a landlord , with agents , with anybody who don't have a problem . No-transcript . Okay , show a genuine interest , be respectful and try to find common ground as quickly as possible as well . Look around the properties .

If you see things that you resonate with , don't make them up . Okay , that's the other thing . Do not make up . You know they go skiing or something like that . You've never been skiing in your life . Oh , I love skiing . No , no , no , no , no , no , no , no , no . That will lose trust . That will absolutely shoot you down quicker than you can think of .

So don't do stuff like that . But if there is any common ground , okay , then use it , start talking about it , make them know , like and trust you Understand their motivations . Everybody's got a reason for doing something . Okay , we've got a reason . We're there because we want to build our property businesses and we want to get a deal over the line .

They have called us or wanted to speak to us because they have a problem . They have a reason . So what is their reason ? What motivates them ? Is it money ? Is it just finding somebody to look after their asset properly ? Is it finding somebody , if you're going to buy the property , that will respect the property ? Why ?

Because you get emotionally attached to property . We live in it , ok , so some people get seriously attached to it and , of course , as we say we don't ever want to be a motivated buyer , but we are looking for motivated sellers , if you like . So make sure that you understand their motivations and try to understand and reason with it as well .

Now , we're not trying to use this against them . That is very important as well . Any deals you do have got to be a win for you and a win for whoever you're working with . So now we've got an understanding of that . We have to then just make sure that we are actively listening to them . Two ears , one mouth for a reason . Don't assume anything .

Ok , some people always say to me I'm not going to look at this Mark because they want all of this money for it and it won't work , do they ? We don't know until we've spoke to them . We don't know if it's a good deal until we've walked around the property . So always do try and get a viewing . You have to have a viewing .

You have to walk around the property and see what it's all about , particularly when you're doing rent-to-rent deals . Never do a deal on a property that you've never seen . So it's very important to get in there and walk around those properties , but never assume you know what it is that they want .

Now , if you need help with this , then do check out thepropertyunleashedcom . We have free tools and resources on that website . We have rent-to-rent training , service accommodation training , hmo training , deal sourcing guides , essay guides all sorts of good stuff there . Deal stackers as well . That's at thepropertyunleashedcom Free training as well .

So just go and help yourself to that and I put that there to help you make sure that , a what you're trying to do and get out there is right for you and B I see far too many people making mistakes with this , giving us all a bad name . So get educated .

So there's some free training there and if you do choose to come out and really push yourself and really motivate yourself and it's 100% what you want we've got training programs that you can come and join as well .

But anyway , most times when you speak to agents , when you speak to landlords , when you first start talking to somebody , all they're going to do is give you the fluff . They're not actually going to tell you their underlining issues . Why ? Because they don't trust you yet . They think that you're there to try and rip them off .

Everybody well , not everybody , but most people always think that somebody is trying to get one over them and that is why we make sure that we're not . We're just trying to work with them . Okay , we're not trying to get one over anybody . We don't want buyer's remorse .

We want to do the good deals that everybody wins from and then we can do a good job for them as well . So just take initially what they say with a pinch of salt , depending on your rapport .

If you get great rapport and it builds up really , really well from the word go , then hey , maybe they do want to actually tell you their main issues , their main problems . But I always find it takes a bit more digging to get the information that you want .

Ok , the real answers will come just in the flow of a conversation , rather than being interrogated with questions and stuff . Ok , questions are great , but conversation is key . So make sure you start getting used and comfortable to having conversations with people and talking about things .

But open-ended questions are great to get them opening up , to get them talking , and again , they should be talking more than you . Okay , and don't start trying to sell yourself until they ask you to sell yourself . So they ask you well , how are you gonna do this ? What is it that you actually do ? Can you tell me more about your business and your strategy .

Yes , boom , I've got permission to do so . And if you do need to start asking questions , ask for permission first . Do you mind if I ask you some questions about the property and some costs ? Is that okay with you ? And then go quiet ? Yeah , that's okay with me , mark , you can ask away . Ask me anything .

Boom , I can then ask them pretty much anything that I want within reason . Let's be right , let's be right . So we've got to make sure that the rapport's there . We're building that up . We've got to make sure that it's a win-win for everybody . We've got to make sure that it's a right deal for us Once you've got this and you know your numbers .

Okay , and that comes with practice as well . As I say , we've got a deal analyzer on the property on Leashcom . You can download for free . I'm not charging anybody for it . So make sure you can stack good deals when it comes to rent to rent . So make sure that you know what you can offer . Now , what you can offer is what you can offer .

Ok , don't elevate numbers , prices , room rents , anything like that to try and get a deal over the line . It will come back and bite you If you can only offer this offer that . Do you know what I mean ?

In most cases , if you stack your deals properly , we should be very competitive with a letting agent's prices because of the way that we do things and this is what I teach my students as well as how to put your offers across . How to negotiate is what I teach my students as well is how to put your offers across , how to negotiate .

We've got all the templates for these so that they can send their offers out , so that they can send good deals out to their landlords , which is why so many of them are getting more and more deals as well , because this stuff works .

But also they're having very profitable businesses rent-to-rent businesses or property businesses because they are doing the good numbers . Okay , make sure again that you are always working with people .

You're trying to find the problem and then we get out there and we help them with our solutions and , if we can , as I said to you before , point them in the right direction and send them on their merry way . What goes around comes around in life , so by helping others , you , in turn , will have good karma coming all the way back to you .

Hope you've enjoyed this . Check out thepropertyunleashedcom website . Reach out to me on social medias YouTube , instagram follow us on there . I'll follow you back if you give us a DM . If you've got any questions , any problems , please feel free to DM me on social medias .

I have the little blue tick by my smiley face , so it will be me that you're talking to and if I can help you and support you in any way , shape or form , then I am here to do so . Take care , and I'll see you in the next episode very soon . Take care and bye for now .