Episoder
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Mark talks through budget and tax rumours and gives a breakdown of current government spending. He shares why he thinks the decisions and choices will be made and also gives the real numbers and statistics around government spending.
KEY TAKEAWAYS
Around $340 billion, equivalent to almost 30% of this yearâs budget is spent on social protection which covers things like, housing benefit, income support and pensions. Personal social services have increased to ÂŁ43 billion Only 60% of the country is paying in, 40% of people in the UK are economically inactive Labour are claiming a ÂŁ20 billion black hole which they are using to justify tax increases. The conservatives would have had to either reduce spending or put up taxes if they had remained in power. Covid cost the UK ÂŁ400-ÂŁ500 billion. Labour have been leaking information around which taxes may increase to help soften the blow to the public. There are rumours about capital gains tax increasing to 45% for high earners, but this could discourage investment. We canât grow the economy if we scare off investors. From 1st January 2025 it's proposed that there will be VAT on school fees.BEST MOMENTS
"40% of this country is economically inactiveâ
âRachel Reeves used to be in the treasury, so sheâll know exactly where to look for this informationâ
âI suspect the conservatives would have had to reduce spending or put up taxes up anyway I think whoever got in that was about to happenâ
âI think the government have been leaking like hellâ
"I understand the politics of envy are at work here"
"Why would you want to tax excellence"
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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A revisit of Mark talking through 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 UK Rent 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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Mangler du episoder?
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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 downturns Assemble specialists for each project rather than maintaining large in-house teams Leverage permitted development rights to convert low-value buildings into prime real estate Retail properties are undervalued currently due to the rise of e-commerce Large-scale PRS apartment blocks are an emerging institutional investment class Keep 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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In this revisited episode episode, Mark shares his thoughts on how to teach and motivate children to invest in property and be successful. There are tips on how to get a mortgage, what types of property to buy, how to rent your property, what you need to know about taxes, and the secret strategy that could allow you to obtain a house for free!
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 a news review, focusing on Rachel Reeves plans for the October budget and what he thinks the rest of Labour's plans will be for the UK. Mark also talks about the voting share from the election, UK rental affordability and the impact the continued drop in interest rates is having on the housing market.
KEY TAKEAWAYS
Labour already knew the financial situation but they are now behaving like they didnât, revealing the drastic measures they may take. Labour will likely look to change inheritance tax and pensions to try and âfillâ the gap in finances. Only 20% of the population actually voted for labour. This outcome is really about the conservatives performing so badly. The governmentâs control over the sentencing of rioters is concerning, they shouldnât be able to have this much direct impact on the sentencing of individuals. Rental tenants are paying 70% of their income on housing in the UK. This is a direct consequence of the changes made by the previous government, that impacted demand and mortgage rates. Interest rates are continuing to go down, which will cause more people to buy houses rather than rent, this can already be seen by the slowing growth in the rental market.BEST MOMENTS
"Theyâre saying capital gains tax should be the same as income tax, which of course is not rightâ
âI think she is probably going to try and get most of the bad news out this autumnâ
âI think they will repeal the section 21 which will make it harder to evict tenantsâ
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 talks about the current state of the financial market, housing policies, and UK politics. From unsettling economic data to proposed changes in landlord regulations, Mark discusses the latest news and updates relevant to property investors and entrepreneurs in the UK right now.
KEY TAKEAWAYS
Financial markets are unsettled due to worsening US economic data, this could lead to interest rate drops of around 1% in the US by the end of 2024, with the UK likely to follow suit. The UK government is considering French style hardship tests for tenant evictions, potentially banning evictions if renters are found to be worse off, which could lead to stricter tenant referencing and higher rents. Labour's promised "biggest house building program in Britain for two generations" is met with scepticism, as similar promises by previous governments have failed to materialise due to lack of resources and planning reforms. Rent prices in the UK have hit record highs, with the average rent outside London reaching ÂŁ1,314 per month, driven by a lack of supply and increasing costs for landlords due to regulations and taxation. The Labour government's first month has seen a short honeymoon period, with concerns raised about potential tax increases and the handling of recent protests and riots across the country. Mass immigration is a significant concern for many UK citizens, with over 700,000 people entering the country on a net basis in the last 12 months, putting pressure on housing, schools, and public services. Mark criticises the Rwanda deportation, it feels like the plan was a "scam," especially after Dominic Cummings' revelation that Boris Johnson knew it would never work due to ECHR constraints, despite allocating ÂŁ10 billion to the project.BEST MOMENTS
"I studied economics. The first module I did was the supply and demand curve. It's very, very simple. If demand remains the same and supply reduces then price has to go up and that's what's happening to rent."
"About 6% of the land in this country is built on 57% is agriculture and 35% is natural or semi natural land. So, you know, do we want to get rid of all the farms? Absolutely not. Do we want to produce food? Absolutely."
"What happens is on a flat that ordinarily might have been rented for ÂŁ800 and you've got an old tenant in there maybe paying ÂŁ650 because they're on a, some sort of protected tenancy or rent control or whatever that property comes back on the market, it might rent for ÂŁ1400, ÂŁ1500, ÂŁ1600."
"I think a lot of the sort of levelling up fund was marketing. I think there were a lot of sort of gimmicks in there."
"I think if Starmer really wants to gain credibility over some of the core issues that are going on at the moment I think he needs to find a genuine solution to stopping boats and remember the boats are only 30/50,000 people a year, reducing legal immigration, which is probably a bigger problem."
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 revisits a previous episode this week and discusses one of the questions he repeatedly gets asked, whether it is worth using additional cash to pay off your mortgage or if it is better to invest it elsewhere? Join Mark in 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 and Kevin dissect the recent UK general election results, exploring potential impacts on property investment, economic policies, and the future political landscape. Mark also shares his thoughts on navigating the changing market, seizing opportunities amidst current challenges, and adapting investment strategies.
KEY TAKEAWAYS
Labour's victory was significant but not as large as initially predicted, with the Conservatives performing better than expected despite their worst result since the 1830s. Interest rates are expected to start declining in the second half of 2024, with a gradual decrease over the next 3+ years, potentially settling between 2-3%. The property market is likely to see an uptick once interest rates decrease, as incomes have risen and house prices have rebalanced, creating opportunities for investors. Buying properties through limited companies offers tax advantages, allowing full mortgage interest to offset against rent for tax purposes. Nigel Farage's presence in Parliament could bring attention to landlord issues and hold the Labour government accountable in an entertaining manner. Labour's large majority may lead to internal conflicts between centrist and left-wing factions, potentially complicating legislative efforts. Successful property investment requires focusing on a specific area, building local contacts, and adapting to market changes rather than using a scattered approach across multiple locations.BEST MOMENTS
"Do not wish for no problems, wish for the ability to handle bigger ones. And there will be some great stuff that comes out of the new election.""I think there will be huge opportunity. If there's a big shift, there will be huge opportunities."
"You've got to take action, and get in an environment where you can learn. You need to be devouring books, courses, videos. Being around other property investors who have found a way to make money out of a new world, a new environment."
"I always say to people, do not wish for no problems, wish for the ability to handle bigger ones."
"We're making more money than we ever have out of our properties, at any point over the last 20 years, because we've changed and taken advantage of all these things and utilize them."
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 read through the main political partiesâ manifestos, and in this episode gives his thoughts on everything from Labourâs spending promises and Greenâs 1% wealth tax to The Reform Partyâs proposed 45% NI for foreign workers. He focuses on the parts of the manifestos that will be important for those in property, investing and small business owners. Mark also talks about the issues politicians need to focus on to bring the country out of debt and stimulate growth.
Labourâs spending promises are actually lower than the conservatives. However, there is nothing much about planning or property legislation. Immigration has hit 750k so the Conservativeâs promises around this havenât been kept. The Green Party are proposing a 1% wealth tax, these kinds of tactics havenât worked in other European countries such as France, and they donât lead to the effect desired. The country's debt is impacting growth but none of the parties have focused on it in their manifestos. There are more working-age people on benefits and out of work than pre-covid. This needs to be tackled by all parties The first time buyers schemes will likely be extended and the upper values increased to keep in line with the market.
KEY TAKEAWAYSBEST MOMENTS
"I think the older you get the more cynical you becomeââI do believe lots of people will up sticks and leaveâ
âWe have debt levels of nearly 100% of the size of our economy, it is unsustainable it needs to come downâ
âDo I think we will ever return to the EU? Yes I 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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This episode is taken from the recent property network revolution event, where Mark takes questions from property investors and business owners. Mark answers questions on the current political climate and what this might mean for the economy, the property market and entrepreneurs and businesses.
Labour still has a lot of left wing MPs in the party, convincing them to vote in more centrist policies will be a challenge for Kier Starmer. Whilst labour may now increase national insurance of income tax, they will find ways to stealth tax. Look at post war Britain, prior to Thatcher, shows the problems with rent controls and we are starting to see these issues again with the controls that have been brought in with legislation in Scotland. One way the country could help tenants and landlords and begin to solve supply and demand problems in housing is by reforming the planning system. Local planning regulations, with zones and permitted development within these would speed up planning processes and consent Whilst it may not be popular, someone in politics needs to make some tough decisions around planning and development so we can solve the housing crisis.
KEY TAKEAWAYSBEST MOMENTS
"Heâs not Jeremy Corbyn is heââThe conservatives have done an appalling job for too longâ
âI would reform the planning system in a huge wayâ
âSomeone will balls needs to actually do itâ
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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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 UK Rent 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 downturns Assemble specialists for each project rather than maintaining large in-house teams Leverage permitted development rights to convert low-value buildings into prime real estate Retail properties are undervalued currently due to the rise of e-commerce Large-scale PRS apartment blocks are an emerging institutional investment class Keep 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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