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The Property Side Hustle Podcast explicit
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Inhalt bereitgestellt von PSN Property Education. Alle Podcast-Inhalte, einschließlich Episoden, Grafiken und Podcast-Beschreibungen, werden direkt von PSN Property Education oder seinem Podcast-Plattformpartner hochgeladen und bereitgestellt. Wenn Sie glauben, dass jemand Ihr urheberrechtlich geschütztes Werk ohne Ihre Erlaubnis nutzt, können Sie dem hier beschriebenen Verfahren folgen https://de.player.fm/legal.
Hosted by Paul Rose, a seasoned property expert with over 20 years of experience, The Property Side Hustle Podcast cuts through the noise of expensive courses and ”guru” advice. Paul leverages his knowledge as the former co-founder of the UK’s biggest property sourcing network to equip you with the tools and strategies you need to navigate the UK property market and build a successful property based business. Here’s what you can expect: Actionable insights: Gain practical, real-world advice to get started in property investment. Demystifying the market: Learn the in’s and out’s of UK property with clear explanations. Cost-effective strategies: Avoid overspending on education and focus on REAL world creative strategies Building your business: Turn your property knowledge into a profitable business Join Paul, and take control of your financial future with: The Property Side Hustle Podcast! Visit us here: www.psnpropertyblog.com
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74 Episoden
Alle als (un)gespielt markieren ...
Manage series 2514981
Inhalt bereitgestellt von PSN Property Education. Alle Podcast-Inhalte, einschließlich Episoden, Grafiken und Podcast-Beschreibungen, werden direkt von PSN Property Education oder seinem Podcast-Plattformpartner hochgeladen und bereitgestellt. Wenn Sie glauben, dass jemand Ihr urheberrechtlich geschütztes Werk ohne Ihre Erlaubnis nutzt, können Sie dem hier beschriebenen Verfahren folgen https://de.player.fm/legal.
Hosted by Paul Rose, a seasoned property expert with over 20 years of experience, The Property Side Hustle Podcast cuts through the noise of expensive courses and ”guru” advice. Paul leverages his knowledge as the former co-founder of the UK’s biggest property sourcing network to equip you with the tools and strategies you need to navigate the UK property market and build a successful property based business. Here’s what you can expect: Actionable insights: Gain practical, real-world advice to get started in property investment. Demystifying the market: Learn the in’s and out’s of UK property with clear explanations. Cost-effective strategies: Avoid overspending on education and focus on REAL world creative strategies Building your business: Turn your property knowledge into a profitable business Join Paul, and take control of your financial future with: The Property Side Hustle Podcast! Visit us here: www.psnpropertyblog.com
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The Property Side Hustle Podcast
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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*
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The Property Side Hustle Podcast
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1 EP:72 Flipping Property and Making Money is 100% Repeatable - If You Don’t Make These Mistakes 30:22
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…
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The Property Side Hustle Podcast
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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….…
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!
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The Property Side Hustle Podcast
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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…
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The Property Side Hustle Podcast
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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
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The Property Side Hustle Podcast
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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…
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The Property Side Hustle Podcast
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Special episode on property training Apply Now for Property and Business Mentoring: https://www.psnpropertyblog.com/property-basecamp-premium
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…
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The Property Side Hustle Podcast
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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…
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The Property Side Hustle Podcast
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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…
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The Property Side Hustle Podcast
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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...
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…
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The Property Side Hustle Podcast
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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…
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