Episodios
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With the recent election announcement, Mark talks about what he would change in government if he were the housing minister.
VALUABLE RESOURCES
https://www.youtube.com/user/progressiveproperty https://www.progressiveproperty.co.uk/the-progressive-co-founders/
ABOUT THE HOST
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.
CONTACT METHOD
Email: [email protected]
LinkedIn: https://www.linkedin.com/in/markhomer1
Facebook: https://www.facebook.com/markprogressive
Twitter: https://twitter.com/markprogressive
âBrought to you by Progressive Mediaâ: https://progressivemedia.uk/
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Mark talks through recent property news headlines including why UK rental prices have continued to increase despite government measures. Mark gives his thoughts on proposed rent controls being introduced in Wales, the impact of current rent controls in Scotland and why the UK does not offer value for money in renting properties. He also reveals the many other reasons behind the current rental crisis in the UK.
50k rental properties are needed to meet the demand in the UKRent controls do not work. In the 60s and 70s, this was proven and it is being proven again.Rent control reduces the rental stock and pushes prices up, it also impacts the country's labour market as people cannot move around easily.People in the UK live in smaller homes than many other countries including France, Germany and Japan.Planning is extremely slow in the UK, this impacts the speed at which properties can be developed.Women in the UK are having fewer children than are needed to sustain the workforce which means immigration is heavily relied on.
KEY TAKEAWAYSBEST MOMENTS
"For the 17th consecutive time, the price of renting in the UK has gone upââRent control doesnât workâ
âIt will reduce the quality and selectionâ
âReduce the cost of childcare and get women back to workâ
âItâs stealing off a section of society and itâs not rightâ
VALUABLE RESOURCES
https://www.youtube.com/user/progressiveproperty https://www.progressiveproperty.co.uk/the-progressive-co-founders/
ABOUT THE HOST
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.
CONTACT METHOD
Email: [email protected]
LinkedIn: https://www.linkedin.com/in/markhomer1
Facebook: https://www.facebook.com/markprogressive
Twitter: https://twitter.com/markprogressive
âBrought to you by Progressive Mediaâ: https://progressivemedia.uk/
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Join Mark as he talks about how to build the power team you need for your business. Mark also talks about how to keep your team motivated and why itâs essential for the success of your business to work with a team.
Working with property is a team sport, you canât do everything yourself. Find the people who know more than you and work with them.Due diligence is essential in finding the right people for the jobs you need. There are a lot of specialists when working with property, especially if you are working in renovating or conversions.You want an expert with experience, someone who has verifiable skills in the exact job you want doing.Progressive Property Approved, is a list of approved specialists that have proven experience with progressive so you can feel confident you have the right person for the job.Mentorship is essential for building you and your power team, allowing you to continue to learn from those who have been where you are.
KEY TAKEAWAYSBEST MOMENTS
"Iâm a bit of a conductor, trying to find the right person for each job that I need doingââYou cannot know even a tiny percentage of what goes on in the property marketâ
âI've kissed so many frogs, picked so called experts, picked the wrong ones for the wrong jobs"
VALUABLE RESOURCES
https://www.youtube.com/user/progressiveproperty https://www.progressiveproperty.co.uk/the-progressive-co-founders/
ABOUT THE HOST
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.
CONTACT METHOD
Email: [email protected]
LinkedIn: https://www.linkedin.com/in/markhomer1
Facebook: https://www.facebook.com/markprogressive
Twitter: https://twitter.com/markprogressive
âBrought to you by Progressive Mediaâ: https://progressivemedia.uk/
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Join Mark as he gives an overview of the current news stories around property including the growth of the construction industry and his take on the favourability of first time buyers and what targets we should instead be focusing on. Mark also talks about the current rent crisis and the impact of the cost of living on landlords, investors and tenants.
Historically, first time buyers keep the market moving and triggered economic growth but the favourability towards them with schemes such as help to buy have been detrimental in many ways too.The cost of construction has gone up by around a third, and this has created redundancies and collapses in the industry.Rent rises have surged post-covid and during this current cost of living crisis but Mark is seeing indications of this now slowing as demand is starting to reduce.Airbnb and other serviced accommodation providers have had a direct impact on housing stock. Some controls are beginning to be introduced but itâs important that these also incentivise traditional landlords to create choice and keep prices moderate.Building on brownfield sites is a key factor in meeting any kind of house-building targets but itâs also important that the targets are focused around the right types of properties in the right areas.
KEY TAKEAWAYSBEST MOMENTS
"For decades there's been the assumption that first-time buyers prop the market upââFirst time buyers have become olderâ
âConstruction industry whilst not mended is probably on the way to being mended after a difficult periodâ
â2020 was probably coming right to end to the previous cycleâ
âWe should be focused on the types of properties being built in the right areasâ
VALUABLE RESOURCES
https://www.youtube.com/user/progressiveproperty https://www.progressiveproperty.co.uk/the-progressive-co-founders/
ABOUT THE HOST
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.
CONTACT METHOD
Email: [email protected]
LinkedIn: https://www.linkedin.com/in/markhomer1
Facebook: https://www.facebook.com/markprogressive
Twitter: https://twitter.com/markprogressive
âBrought to you by Progressive Mediaâ: https://progressivemedia.uk/
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Mark has been investing in property for 15-20 years, approaching the 100 mark in terms of deals made and has a 70 million equity stake in various portfolios. One of the questions he repeatedly gets asked, is whether it is worth using additional cash to pay of your mortgage or if it is better to invest it elsewhere. Listen in to this episode to hear his thoughts and answers to this common question.
KEY TAKEAWAYS
If you are even slightly disciplined you should not pay your mortgage off. If you are worried about interest rates then look at fixed rate mortgages.If you can invest your cash somewhere else, you will earn more back on that lump sum than you will be paying in interest on your mortgage.Property is still by far the best investment opportunity particularly in terms of lending from banks; they will always give you a great interest rate on anything you borrow.BEST MOMENTS
âWhy would you want to pay of your mortgage if you can get consistently good returns by investing in your isa and getting much much higher investment returnsâ
âYouâve got to make your money work for you, no one else will look after your money like you doâ
VALUABLE RESOURCES
https://www.youtube.com/user/progressiveproperty https://www.progressiveproperty.co.uk/the-progressive-co-founders/
ABOUT THE HOST
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.
CONTACT METHOD
Email: [email protected]
LinkedIn: https://www.linkedin.com/in/markhomer1
Facebook: https://www.facebook.com/markprogressive
Twitter: https://twitter.com/markprogressive
âBrought to you by Progressive Mediaâ: https://progressivemedia.uk/
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Mark gives an overview of the current news stories around property including new legislation and the recent budget. Mark also talks about the many changes around serviced accommodation, current house prices and gives his thoughts and opinions on why other markets arenât investing in the UK.
When governments reduce taxes, they generally find they receive more tax as people spend more in the economy.Other markets arenât investing in the UK as they donât see our companies as efficient of innovative.There are big changes happening in serviced accommodation, you will no longer be able to claim capital allowances on SA and much more planning will be needed for new serviced accommodation.There have been more changes in the property market since Christmas with some areas seeing 10-15% drops.Itâs a fine balance between legislation to help renters and pushing landlords too far, reducing the rent stock further and making the problem worse.
KEY TAKEAWAYSBEST MOMENTS
"As you reduce tax rates, often the amount of tax you take increasesââThe markets see our companies as nowhere near efficientâ
âYouâre not going to be able to claim capital allowances on serviced accommodationâ
âInflation is now at about 4%, we need 2%, we were and 10%â
âRenters reform bill is on the brink of collapseâ
"It pushes rent up"
VALUABLE RESOURCES
https://www.youtube.com/user/progressiveproperty https://www.progressiveproperty.co.uk/the-progressive-co-founders/
ABOUT THE HOST
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.
CONTACT METHOD
Email: [email protected]
LinkedIn: https://www.linkedin.com/in/markhomer1
Facebook: https://www.facebook.com/markprogressive
Twitter: https://twitter.com/markprogressive
âBrought to you by Progressive Mediaâ: https://progressivemedia.uk/
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Mark Homer reflects on his 20-year journey to becoming a multi-million-pound property CEO. Hear how he started with naive investments abroad, learned difficult lessons, and shifted his strategy to focus on local houses with strong cashflows. Mark explains his role as a "conductor" in assembling teams for each project, shares current real estate trends, and advises aspiring investors.
Focus on cash flow over capital growth for stable returns and safety during market downturnsAssemble specialists for each project rather than maintaining large in-house teamsLeverage permitted development rights to convert low-value buildings into prime real estateRetail properties are undervalued currently due to the rise of e-commerceLarge-scale PRS apartment blocks are an emerging institutional investment classKeep debt below 50% of asset values over the long term for sustainable growth
KEY TAKEAWAYSBEST MOMENTS
"So lots of investors are having to offload because of section 24."
âI watched them make loads of money in a very short space of time. At the time, I had a friend who maybe bought something like 97, and within two or three years heâd made about 60 grandâs worth of equity."
"I made a very, very poor investment. So I learned very, very quickly not to trust those who have a vested interest in selling me the property and to go out and do genuinely independent research to find out what something will actually rent for."
"When I started in this sector, I was very much focused on capital growth. Capital growth is sexier to a lot of people. Thatâs probably, in reality, truthfully, where you make most of your money over the long run."
"I also noticed on a much bigger scale that the wealthiest people in the country seemed to have made or had seemed to have invested their money into property. If you have a look down the rich list, the Sunday Times rich list that comes out every year, a lot of those were making their money from property."
VALUABLE RESOURCES
https://www.youtube.com/user/progressiveproperty https://www.progressiveproperty.co.uk/the-progressive-co-founders/
ABOUT THE HOST
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.
CONTACT METHOD
Email: [email protected]
LinkedIn: https://www.linkedin.com/in/markhomer1
Facebook: https://www.facebook.com/markprogressive
Twitter: https://twitter.com/markprogressive
âBrought to you by Progressive Mediaâ: https://progressivemedia.uk/
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Mark hosts an informal session answering attendees' questions on property investing and business. Topics covered include managing tenant arrears, using AI systems, recovering securing finance, choosing property strategies and leveraging technology to remove reliance on people. Mark provides his famous direct, no-nonsense advice, drawing on his extensive experience. The session offers valuable insights for property investors and business owners alike.
Pursue former tenants with county court judgments using options like winding-up petitions to pressure payment, despite the costs involved.Expect Bank of England base rates to remain around 4-4.5% through 2025 before dropping, according to trading market predictions.Resolve cladding issues for financiers by providing EWS1 reports showing remediation works address combustible materials.Get multiple assessments when handling property contamination like asbestos to determine actual risks and remediation needs.Institute gradual rent increases for retained tenants to keep pace with market rates and offset rising mortgage costs.Leverage technologies like AI wherever possible to remove reliance on staff and minimise people management headaches.Seek out self-motivated employees requiring minimal oversight to avoid poor performance issues plaguing growth.
KEY TAKEAWAYSBEST MOMENTS
"I issued a winding up petition on a care company...it probably cost four or five grand, but it's existential for them.""I check our rents once a month...I look back and a block we finished two years ago...Those rents are now going up 40%."
"When you attack landlords...then rents have to go up to a level where it works again. That's the adjustment that's taking place."
"I'm looking forward to that because apparently this can remove quite a bit of admin. I would put as much technology in as possible."
VALUABLE RESOURCES
https://www.youtube.com/user/progressiveproperty https://www.progressiveproperty.co.uk/the-progressive-co-founders/
ABOUT THE HOST
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.
CONTACT METHOD
Email: [email protected]
LinkedIn: https://www.linkedin.com/in/markhomer1
Facebook: https://www.facebook.com/markprogressive
Twitter: https://twitter.com/markprogressive
âBrought to you by Progressive Mediaâ: https://progressivemedia.uk/
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In this episode, Mark gives his thoughts on recent property news. He talks about current planning restrictions, ground rent problems and gives his educated opinion about the new suggested help-to-buy scheme from Jeremy Hunt.
KEY TAKEAWAYS
Jeremy Hunt is looking at creating a similar scheme to the previous help to buy where the government helps fund houses for buyers, including on existing homes.The previous help-to-buy schemes were often overpriced and put lenders and the government at some risk.Planning is preventing much-needed house building. Until this changes we canât tackle the housing crisis in the UK.There is a government consultation that has just been completed to cap extortionate ground rents for existing leases.BEST MOMENTS
"Jeremy Hunt is looking at reintroducing a help-to-buy type schemeââIt was a great gravy train for the developersâ
âTheyâre not building anywhere enough, due to planningâ
VALUABLE RESOURCES
https://www.youtube.com/user/progressiveproperty https://www.progressiveproperty.co.uk/the-progressive-co-founders/
ABOUT THE HOST
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.
CONTACT METHOD
Email: [email protected]
LinkedIn: https://www.linkedin.com/in/markhomer1
Facebook: https://www.facebook.com/markprogressive
Twitter: https://twitter.com/markprogressive
âBrought to you by Progressive Mediaâ: https://progressivemedia.uk/
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Two of the most talked about issues in the country in regards to housing, are how the next generation will afford it and the impact migration and immigration are having on the housing shortage. Mark joins Nigel Farage on GB news to discuss this and the promises of house building from the current secretary of state for housing Michael Gove.
Michael Gove has said the government can and will override local government and council decisions around housing.Nigel Farage believes the single biggest issue facing the housing crisis is immigration.Rental increases are largely in part due to a lack of supply of housing.The government needs to present and show new ideas to help the lack of housing in this country right now.New towns are one of the solutions to the housing crisis.The housing planning system in this country is broken, being done at a local level itâs very political and this is detrimental to housing development.
KEY TAKEAWAYSBEST MOMENTS
"For 2023 itâs unlikely theyâll build more than 160 thousandââHe showed himself and the government to be more out of touch with the country and the realityâ
âRents have gone up 40% since 2016, since the Brexit voteâ
âPlanning is the major problemâ
âI haven't seen any new ideas from Starmerâ
VALUABLE RESOURCES
https://www.youtube.com/user/progressiveproperty https://www.progressiveproperty.co.uk/the-progressive-co-founders/
ABOUT THE HOST
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.
CONTACT METHOD
Email: [email protected]
LinkedIn: https://www.linkedin.com/in/markhomer1
Facebook: https://www.facebook.com/markprogressive
Twitter: https://twitter.com/markprogressive
âBrought to you by Progressive Mediaâ: https://progressivemedia.uk/
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In this episode, Mark outlines his predictions for property for 2024. He discusses the implications of the market in 2023, what he thinks will happen to house prices and rent rises as well as the multiple reasons more and more landlords are choosing to sell up!
For the end of 2024, Mark thinks house price falls will moderate and stabiliseMark believes rent prices will continue to rise throughout 2024There is less supply of rental properties and this is continuing along with population increases.Section 21 is mostly used by landlords when tenants have run up arrears.There is going to be a consultation taking place to split houses into two apartments which could be positive for developers.The government have confirmed that landlords wonât have to meet EPC rating of c in all properties by 2025. Which makes many properties more viable to property investors.
KEY TAKEAWAYSBEST MOMENTS
"I think rent rises will continue through 2024ââFrom 2016 to now we have seen an almost double of rent [prices] in this areaâ
âLots of landlords are leaving the sector because they can see the section 21 being repealedâ
VALUABLE RESOURCES
https://www.youtube.com/user/progressiveproperty https://www.progressiveproperty.co.uk/the-progressive-co-founders/
ABOUT THE HOST
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.
CONTACT METHOD
Email: [email protected]
LinkedIn: https://www.linkedin.com/in/markhomer1
Facebook: https://www.facebook.com/markprogressive
Twitter: https://twitter.com/markprogressive
âBrought to you by Progressive Mediaâ: https://progressivemedia.uk/
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Mark Homer reviews the biggest property and business news stories of 2023!
VALUABLE RESOURCES
https://www.youtube.com/user/progressiveproperty https://www.progressiveproperty.co.uk/the-progressive-co-founders/
ABOUT THE HOST
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.
CONTACT METHOD
Email: [email protected]
LinkedIn: https://www.linkedin.com/in/markhomer1
Facebook: https://www.facebook.com/markprogressive
Twitter: https://twitter.com/markprogressive
âBrought to you by Progressive Mediaâ: https://progressivemedia.uk/
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Mark Homer shares the inside story of his largest and most complex commercial conversion project to date - transforming an 80,000 sq ft former Marks & Spencer department store into 99 residential units. He reveals the highs and lows behind acquiring the property, handling the intricate planning permission, dealing with the main contractor going bust halfway through construction, and stepping up to build it himself.
Mark acquired the M&S property once he confirmed a national retailer was interested in the ground floor space. This substantially reduced his risk and unlocked the opportunity.After his initial main contractor went bust, Mark set up his own building firm and hired the existing site manager and subcontractors. This saved significant cost and gave him greater control.Strong health and safety processes including regular independent audits were critical for managing risks during construction. This documentation also proved invaluable when scrutiny arose.Gradually gaining experience across different commercial conversion projects enabled Mark to handle a development of this scale. It's not advisable to dive into a huge site as your first project.Doing the project himself rather than using a main contractor saved around 20% of costs (ÂŁ2 million) and eliminated variations which can be painfully expensive.The building qualified for a government-backed bond which provided exceptionally low long-term finance to hold the flats. This rewarded his ambition and enabled him to retain ownership.Mark always seeks creative angles to de-risk acquisitions and reduce base cost. This might involve creating optionality around alternative uses, or leveraging tenant demand
KEY TAKEAWAYSBEST MOMENTS
"Just graduate your way into it. I don't subscribe to this view of oh, it doesn't matter how big it is you can just dive straight in from day one on a massive project because you know you'll make a lot of mistakes and they'll be magnified on a big site"
"By doing it myself, I think we saved at least ÂŁ2 million So, that was worth that. It's about 20%? Yeah, probably. A little bit more? Yeah. That's interesting."
"You really need to buy the whole building to make anything work"
VALUABLE RESOURCES
https://www.youtube.com/user/progressiveproperty https://www.progressiveproperty.co.uk/the-progressive-co-founders/
ABOUT THE HOST
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.
CONTACT METHOD
Email: [email protected]
LinkedIn: https://www.linkedin.com/in/markhomer1
Facebook: https://www.facebook.com/markprogressive
Twitter: https://twitter.com/markprogressive
âBrought to you by Progressive Mediaâ: https://progressivemedia.uk/
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Join Mark as he explores the common debate between renting and buying a home in the UK and talks about why home ownership is still a good option. Mark also talks about recent tax changes, including Section 24 and increased stamp duty, impacting the property market. Mark contends that these changes contribute to a shortage of rental properties and increased rents. Gain insight into the current property market dynamics, including falling prices due to higher interest rates and what this could mean for property investors.
KEY TAKEAWAYS
Tax changes have made the cost of living more expensive for tenants and homeowners.The increase in rental prices is due to landlords leaving the market.You find a way to manage law and legislation changes, regardless of how big an impact you first think they will make, there are always solutions. just as Mark found when section 24 first came in. Think creatively about how you can invest in property, Mark lived with his mum in order to save to invest.It is better to invest money in properties rather than buying your own homeHomeownership is still better than renting in the UK. It's best to see it as a long-term investment, regardless of what the property market is doing.BEST MOMENTS
"Is it true that you had ten investment properties and still lived with your mum?"
"There's a severe lack of rental property because the planning system is broken and because of Section 24 and because they've put the stamp duty up to higher rates of 3% on top."
"Clearly, interest rates going up, yes, but a huge amount of it is landlords leaving because of all this stuff, less rental property."
"Rents are just going absolutely nuts off the back of this."
"If you're only going to stay in a year or two, it's definitely better to rent."
"You just need to sort of adapt, don't you, to adapt your business, you know, an issue comes along, you just set the sail of your sailing boat to take advantage of the new direction of the wind."
VALUABLE RESOURCES
https://robmoore.com/
bit.ly/Robsupporter
https://robmoore.com/podbooks
rob.team
ABOUT THE HOST
Rob Moore is an author of 9 business books, 5 UK bestsellers, holds 3 world records for public speaking, entrepreneur, property investor, and property educator. Author of the global bestseller âLife Leverageâ Host of UKâs No.1 business podcast âThe Disruptive Entrepreneurâ
âIf you don't risk anything, you risk everythingâ
CONTACT METHOD
Robâs official website: https://robmoore.com/
Facebook: https://www.facebook.com/robmooreprogressive/?ref=br_rs
LinkedIn: https://uk.linkedin.com/in/robmoore1979
âBrought to you by Progressive Mediaâ: https://progressivemedia.uk/
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Mark reflects and gives his thoughts on a selection of news articles in this episode including focusing on the row between Nigel Farage and Alison Rose, wage growth and inflation. Mark also talks about the current housing crisis and what he thinks will happen in the medium and long term.
Alison Rose gave private information about Nigelâs banking details to a BBC journalist, Nigel has won against her in court.Next year it is predicted house prices will continue to fall by around 4%Most indicators are showing the base rate of interest will go back down to 1.7% by 2027This year has seen the biggest price reduction in November since 2017Growth comes from entrepreneurs and businesses, this is what the government needs to focus on to promote growth.
KEY TAKEAWAYSBEST MOMENTS
"Anybody that decides to go up against Nigel Farage is usually pretty foolishââSavills is declaring the UK housing market is past peak painâ
VALUABLE RESOURCES
https://www.youtube.com/user/progressiveproperty https://www.progressiveproperty.co.uk/the-progressive-co-founders/
ABOUT THE HOST
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.
CONTACT METHOD
Email: [email protected]
LinkedIn: https://www.linkedin.com/in/markhomer1
Facebook: https://www.facebook.com/markprogressive
Twitter: https://twitter.com/markprogressive
âBrought to you by Progressive Mediaâ: https://progressivemedia.uk/
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Car hire and leasing can expensive and getting out of a contract early can be difficult especially if you donât know what type of contract youâre entering into. In todayâs episode, Mark dives into the details of car leasing, contract hire and PCP contracts and explains the most cost-effective way of controlling, owning or renting your vehicle.
KEY TAKEAWAYS
Contract (leasing) hire - the term contract is interchangeable with leasing and is a fixed agreement, usually 24,36 or 48 months and you are expected to fulfil the contract. Essential the monthly payment has been calculated over many months. Therefore if youâre looking to end the agreement early you will usually have to pay 50% of the remaining rentals if youâre looking to give the car back early. The disadvantage of contract hire is that they are not particularly flexible. If youâre concerned about ending your contract hire seek advice from the supplying dealer or credit broker to offer a shorter agreement. PCP (Personal Contract) Hire - At the end of the contract you either pay the remaining value of âballoonâ payment, you sell the vehicle or you return it. Should you wish to end the agreement early the common agreement is to pay 50% of the remaining rentals or return the vehicle to the finance company. With PCP you are able to enter into a process called voluntary termination giving you the option to return the vehicle to the company when youâve paid 50% of the amount payable or more. This can be referred to as the rules of halves and thirds. Many car lease agreements have a buy-out option and will usually credit a percentage of the lease payment towards that purchase and is commonly least expensive way of getting out of a car lease. In order for it to make sense the resale value of the car needs to be equal or more than the buy-out value of the car. However, if youâre looking to get out of your lease so that you can purchase a new car be careful re-entering into another agreement especially with the same dealership as they will roll over outstanding payments on your old agreement into a new finance agreement.BEST MOMENTS
âWith a contract hire You will usually have to pay 50% of the remaining rentals. From my experience, they will try to make you pay all of them.â âCar dealers love nothing more than for old customers to come back in and purchase a new car as they will make money on the old sale and the new oneâ âGet everything down on a spreadsheet to work out the total cost to get in and out of these leasesâ âFocus on the P&L and APR before purchasing a carâ âDealers love talking about monthly paymentsâVALUABLE RESOURCES
Centralleasing.comAppliedleasing.com Leasing.com Freedomleasing.comABOUT THE HOST
Mark HomerâŻis an entrepreneur investor.⯠He has worked with investment since he was 15 years old using the laws of wealth! He is a spreadsheet analyst with an impressive following from major publications including BBC Radio, The Wall Street Journal, The Independent,âŻandâŻco-authoring the UKâs best-selling property books.⯠Mark has always looked for the best investment vehicle, and at the end of 2007 with Rob Moore theâŻco-founder of Progressive Property his joint portfolio produced more profit than any of the other investments heâd tried in the last ten years, combined.âŻ
CONTACT METHOD
Email: [email protected] LinkedIn: https://www.linkedin.com/in/markhomer1 Facebook: https://www.facebook.com/markprogressive Twitter: https://twitter.com/markprogressiveâBrought to you by Progressive Mediaâ: https://progressivemedia.uk/
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Mark interviews controversial politician and broadcaster Nigel Farage in this episode. They discuss Nigel's experience as a commodities trader in the City, his views on investing, and the future of the stock market. Nigel provides an inside look at his political career, explaining how he stood alone in advocating for Brexit and used social media to make his voice heard. He shares his thoughts on the Conservative party, challenges with the benefits system, immigration, China, and more. Nigel also opens up about dealing with stress and negativity as a public figure. With his signature bluntness, humour, and charm, he engages in lively debate on controversial issues.
Nigel was a commodities trader in metals before entering politics. He still invests but prefers long-term positions in solid, dividend-paying companies.He credits his trading experience and sense of humour for helping him survive the stresses of politics and public scrutiny.Nigel believes he could become Prime Minister under a proportional representation voting system.He remains a staunch defender of Brexit despite domestic implementation problems.Nigel thinks China invading Taiwan in 2023 is over 60% likely and could be devastating for supply chains.He feels education should return to teaching critical thinking skills instead of moral relativism.
KEY TAKEAWAYSBEST MOMENTS
"Be true to yourself. Because if you're not happy, you'll never be happy.""On the world stage, Brexit has been a big success. Domestically it's been terrible."
"You can't be friends with both. You have to make a decision." (On siding with Saudi Arabia over Iran)
"Nothing in our history was ever easy. There were always problems at every juncture."
VALUABLE RESOURCES
https://www.youtube.com/user/progressiveproperty https://www.progressiveproperty.co.uk/the-progressive-co-founders/
ABOUT THE HOST
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.
CONTACT METHOD
Email: [email protected]
LinkedIn: https://www.linkedin.com/in/markhomer1
Facebook: https://www.facebook.com/markprogressive
Twitter: https://twitter.com/markprogressive
âBrought to you by Progressive Mediaâ: https://progressivemedia.uk/
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Mark Homer interviews Adrian from Prefect Controls about their intelligent heating control system for HMOs and student accommodation. Adrian explains how Prefect's room-by-room controls help property managers like Mark reduce energy waste from tenants who crank the heat up and open windows! With energy prices skyrocketing, he expects Prefect will reduce his bills 20-30%. Tune in to hear how Mark and Adrian implemented Prefect across Mark's properties and the tenant experience so far.
KEY TAKEAWAYS
Prefect is designed for rooms, unlike smart home systems made for houses. Central control and data is key.Tenants cranking heat and opening windows wastes energy. Prefect stops this.Prefect monitors temperature, occupancy, noise and more in each room.Data helps identify issues like banned space heaters quickly.With remote access, managers don't need to enter rooms to check occupancy.The payback period depends on energy savings, but Mark expects 20-30% lower bills.BEST MOMENTS
"The thermostat gets put right up to maximum, which might be 30 degrees, and then the temperature is often regulated by opening the window."
"We can see if the range goes much higher. We've got tenants where the rooms are going to 28, 29. In fact, we found one where he was consistently 37 degrees."
"You know, we, we set the parameters or you guys set the parameters according to your sort of normal temperature range."
"I was expecting, um, a saving on our energy bills of maybe 20 to 30 per cent."
VALUABLE RESOURCES
https://www.youtube.com/user/progressiveproperty https://www.progressiveproperty.co.uk/the-progressive-co-founders/
ABOUT THE HOST
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.
CONTACT METHOD
Email: [email protected]
LinkedIn: https://www.linkedin.com/in/markhomer1
Facebook: https://www.facebook.com/markprogressive
Twitter: https://twitter.com/markprogressive
âBrought to you by Progressive Mediaâ: https://progressivemedia.uk/
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This episode is a recording of Markâs recent talk at the Underground Empire Builders Event. Mark draws on 20 years of experience and 1000+ deals, sharing the mindsets and models essential for business success. He gives his philosophies on real estate investing, scaling companies, productive habits, calculated risks, and leveraging assets.
Find a profitable business model aligned with your passions - it drives you through tough times. Surround yourself with successful people to get ideas, not direct copies.Start now, test, and pivot - don't over-research. Your business will change; the market will shape it. Take action, make mistakes, learn, and improve.Systemise everything, measure with data, and manage time carefully. Spend it on income-generating tasks; this grows your business, and delegate what doesn't.Diversify income streams and assets. Property, trading, and investments balance each other when challenges like Brexit hit. Diversification survives dislocations.
KEY TAKEAWAYSBEST MOMENTS
"I think the first thing I'd do as Prime Minister is take the whole tax system, put it in the bin, and reduce taxes."
"Once you find your model, it's all about implementation. You need clear, definable goals and milestones to ensure you're executing correctly."
"Don't go into developments early - learn by buying smaller ones first. There's less to go wrong and you gain experience for bigger projects."
"This isn't a sprint, it's a marathon. Buy properties now - even if cash flow is lower, you're purchasing for the long-term."VALUABLE RESOURCES
https://www.youtube.com/user/progressiveproperty https://www.progressiveproperty.co.uk/the-progressive-co-founders/
ABOUT THE HOST
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.
CONTACT METHOD
Email: [email protected]
LinkedIn: https://www.linkedin.com/in/markhomer1
Facebook: https://www.facebook.com/markprogressive
Twitter: https://twitter.com/markprogressive
âBrought to you by Progressive Mediaâ: https://progressivemedia.uk/
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Mark Homer joins Nigel to talk about one of the ways he sees us dealing with the housing crisis, redevelopment of retail and other commercial units into residential use. They discuss the barriers to general development and the new legislation coming into place soon.
KEY TAKEAWAYS
The government hasnât been getting anywhere near its target for building houses, largely down to local planning and democracy.Over the years itâs become more difficult to convert commercial property into residential but there is some new regulation being discussed that could change this.You donât get the same objections and difficulties when trying to develop housing in a city centre -vs.- rural communities.BEST MOMENTS
âEverywhere the government turns it finds it more and more difficult to meet these housing targetsâ
âI was the first person in Peterborough to take an office building and turn it into apartmentsâ
âIt makes sense to live in city centres now and if we do a new kind of shopping with emergeâ
âSo many builders are saying that the current green targets, are making it harder and harderâ
VALUABLE RESOURCES
https://www.youtube.com/user/progressiveproperty https://www.progressiveproperty.co.uk/the-progressive-co-founders/
ABOUT THE HOST
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.
CONTACT METHOD
Email: [email protected]
LinkedIn: https://www.linkedin.com/in/markhomer1
Facebook: https://www.facebook.com/markprogressive
Twitter: https://twitter.com/markprogressive
âBrought to you by Progressive Mediaâ: https://progressivemedia.uk/
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