The Rodcast - Property, Business, Investment: Recent Episodes
Rod Turner
An exploration into real estate businesses and asset backed investments.
Rod talks to property developers, investors, business owners and professionals about the nitty gritty details involved in making their businesses move in the right direction.
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Before we get started, I’m delighted to say our next Property Business Workshop on 4th July only has 10 tickets left.
This time Adam Lawrence and I will be taking on: The fundamentals of property investment. Risk mitigation and control. Relevant investment metrics. Differing secured debt arrangements and loan structures – and – Scaling your property portfolio/business – why, when and how?
Thursday 4th July, in a Central London location (Blackfriars). Let’s face it – there’s nothing else on that day apart from a rout. Early Bird tickets are running out – and thanks to the early bookers who make it viable to book a room and organise the event – we reward them with 10% off! There are tickets still available here: http://bit.ly/pbwthree
Now to this episode.
Mike Kovacs from Castleforge is always a fountain of knowledge when I talk to him and this time was no different. I love his data led research approach to investing in different use classes and geographies.
In the episode we discuss what Mike has been up to since we last spoke on the Rodcast a few years ago in episode 72 https://shows.acast.com/5d72784e408342486f3e10c1/633ee475050f5400123d2eaf
We discuss;
What has happened in terms of people being back in the office and how that differs in different markets.
Structural differences in Markets that technology cannot fix in the office market.
What has happened to Traditional office leases over the past couple of years.
Flexible office market and how this is changing.
We Work' s effect on the London flexible office Market
Regional office markets.
How commutes affect office demand.
Office costs as a percentage of a Businesses costs and how that has changed.
Security of income in Flexi offices.
What investors should be concerned about in regards to metrics.
What office investors can learn from Hotel investments.
The parts of the office market he focuses on and why.
Why investors are only now realising the operational efficiencies of old school investments have changed.
How Covid affected the Hotel market and why they felt it was the right time to get into hotels.
How they chose the type of hotels and locations to invest in.
Issues with the capital structure of some Hotels.
Why Hotels have a track record of keeping up with inflation so well.
What are the factors and some examples of what they look for in locations for Hotels.
The effects on Hotels on the short term let and holiday let market.
Why their residential arm "Ocasa" focuses on lower to middle market and affordable products.
Barriers of entry in lower value residential areas.
How they built a portfolio of over 2,250 residential units.
How to look at the addressable market.
The cost of Development.
Cost of Living and how that is affecting affordability for renters and what they do to mitigate these risks.
Operational costs of operating a residential portfolio.
he ongoing costs and investment metrics needed in residential investment.
Should operations be split from ownership?
How regulation is affecting operational costs.
The problems of investors realising they are running a business.
Options for tired landlords.
The future of Data Centres.
How energy markets affect Data Centres.
Why there are supply constraints in Data Centres.
Different types of Data Centres and what to look for in a building or location for a good investment.
And lots more
Thanks to our sponsors www.978finance.com & www.konnexsion.com
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If you are interested in Supported living, Impact Investment, Private Equity, Operational Efficiencies, EBITDA, ESG, Housing Crisis then you are in for a treat.
I was joined by Honor Barratt the Managing Director of Birchgrove, https://www.birchgrove.life/ a Senior Assisted Living operator that is funded by Impact Fund, Bridges https://www.bridgesfundmanagement.com/our-story/
We discuss;
Honor's background in business and how she became the Managing Director of Birchgrove.
Coping with changes when your business is bought by Private Equity.
Upskilling through business programmes such as Harvard.
Transferable skills from a Creative industry.
The scale of the retirement living problem in the UK.
When people should look to downsize.
Renting in later life.
How the housing market is affected by the older population.
How the senior living market in the UK compares with other countries.
Why does it take us so long to create buildings in the UK.
The biggest challenges Birchgrove faces.
Market and Investors concerns over the supported living industry.
Where the money is currently coming from that is investing in UK Senior Living.
Measuring Impact.
Delivering EBITDA with impact.
How ESG and EBITDA are not mutually exclusive.
The biggest challenges with scaling a business where there is an absence of comparables.
The demographics of the industry and why this sector looks rosey.
Identifying the problem with insight.
How the cost of finance affects the business as well as impact.
The realities of paying for care.
Having a sense of purpose and how that really supercharges things.
Ghetto-ising certain communities and how sometimes some communities want it.
How impactful gestures can be.
And Lots more.
Thanks again to our sponsors 978 Finance https://978finance.com/
and
Konnexsion property management software https://www.konnexsion.com/user-login
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Jo Seth-Smith is the Investment Manager at Olim Property https://www.olimproperty.co.uk/index.html an FCA regulated property investment manager of UK commercial property portfolios, whose Funds Under Management total is approximately £1 billion with individual discretionary mandates for pension funds, investment trusts and Oxford colleges.
Jo has a heap of experience in Commercial Property Investment starting her career at JLL, La Salle Investment Manager and then moving on to for part of the team that created Acuitus Commercial Property Auctions before joining Olim Property.
In this discussion Jo and I discuss;
How Jo came to be involved in the investment side of Commercial Real Estate.
Different types of sellers and buyers at commercial property auctions and differences in approaches between institutional investors vs private sector investors.
Why institutional investors decide to sell at auction.
How the structure of a typical institutional real estate portfolio has changed over time.
As an investment manager how does the clients needs dictate the sectors that you look to invest in.
Where her focus in terms of asset types has changed over the past few years.
The importance of not just reducing risk for clients but also reducing costs.
Valuations when transactional evidence is low and how that can affect decisions to sell.
Theory vs experience.
The delay between cause and effect on asset prices happening in the market.
Cost of living crisis effects on covenant strength of occupiers of commercial property.
Difficulties in forecasting future rents.
Difficulties in achieving historical yields in certain asset classes.
How ESG factors into Jo's decision making when making investments and how that has changed over time.
Policy and Government changes and their effects on investments.
ESG and box ticking.
Advice to people looking to get into the industry.
And lots more...
Thanks again to our sponsors https://www.konnexsion.com who provide fantastic property management software and 978 Property finance https://978finance.com/ who provide finance for all property deals
If you enjoyed the episode please be sure to follow on whichever platform you listen or view on. Reviews are always welcome.
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Our Quarterly Investment Mastermind with Manish Kataria and Adam Lawrence kicked off with a brief discussion on the performance of some of our previous investment picks and the current investment environment.
We then got onto our picks for this quarter.
If you haven't listened to one of these mastermind episodes before the premise is we each pick a stock, bond, ETF, REIT etc that we feel is good to invest in now and give the reasons why. The others then are given a chance to critique.
Manish chose an ETF that tracks the Russel 2000 ticker IWM https://www.ishares.com/us/products/239710/ishares-russell-2000-etf
I went with an ETF that tracks the FTSE 250 with ticker VMID https://www.vanguardinvestor.co.uk/investments/vanguard-ftse-250-ucits-etf-gbp-distributing/distributions
And Adam chose Dimensional Fund advisors uk value fund https://www.morningstar.co.uk/uk/funds/snapshot/snapshot.aspx?id=f0gbr04v7x
Manish also came in with a bonus pick of the stock BP https://www.bp.com/en/global/corporate/investors/share-price-tools/share-price-history.html
To find out the reasoning and critiques behind these investment picks please listen to the episode.
Please don't forget to like and subscribe/ follow the Rodcast
THIS IS NOT INVESTMENT ADVICE
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In this episode I am joined by Richard Nicholls who has a fantastic knowledge and track record in the sales market of HMO properties. We also discuss the HMO market and what HMO owners can do to maximise sale values.
Selling portfolio's and large HMO to funds and what they may be looking for.
However in this episode we discuss another property related business that Richard had several years ago that had disastrous outcomes for his clients, him and his family.
This is a candid discussion about what mistakes Richard made in business, what went wrong and what we can all learn and apply in our own businesses to ensure we minimise these things happening.
We discuss warning signs for both clients and Richard acting as main contractor. We look at it from both clients perspective and what you should be looking for in a contractor as well as from a contractors point of view.
As always thanks to our sponsors www.978finance.com who provide me with fantastic finance for property investments and developments and www.konnexsion.com whose software is invaluable in managing my portfolio.
Please don't forget to like and subscribe to our podcast.
If you. prefer to watch the episode please subscribe, like and watch our youtube channel https://www.youtube.com/channel/UCxkO-euK0xulYGS7vH08d5A
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In this episode I am joined by Planning Consultant Lorenzo Pandolfi from https://logic-planning.com/ to talk about the current state of the UK's Planning System.
We discuss;
His career and how an Italian town planner came to be in London.
How Morale, Money and perspective are causing issues in the planning system.
What is causing the issues with staffing in planning departments.
How "Public Practice" can help the planning system.
The public sectors PR department
Life on the front line in Local Authority Planning Departments http://samuelstafford.blogspot.com/2021/12/life-on-front-line.html
Common mistakes made when submitting planning applications.
Where does planning really sit in the agenda for the political parties.
Permitted Development.
How important soft skills are when trying to get an application granted.
Useful resources for Planning specialists and developers (see below)
https://www.youtube.com/channel/UCcMtoF0MPgFble556ncjNvQ
https://simonicity.com/
https://www.planoraks.com/
https://www.irwinmitchell.com/our-people/nicola-gooch
http://samuelstafford.blogspot.com/2021/12/life-on-front-line.html
As always a big thank you to www.978finance.com for sponsoring the episode. Please contact simon@978finance.com for all of your finance needs.
Please share this episode if you enjoyed it and don't forget to follow on your podcast platform or on youtube https://www.youtube.com/@rodcastITP and we would love a review.
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In the last 5 years we have had Covid, Trussonomics, Market volatility, been paid to stay home, inflation and the fastest increases in mortgage rates for 100 years.
So it was an absolute pleasure to have the first ever Rodcast guest back on the show to celebrate our 100th episode and hear how his fantastic property business has navigated the difficult environment.
If you haven't heard the first episode then do go back and listen. (The sound quality is not good but the content of what Jason Tracey from www.bmor.co.uk discusses is brilliant)
In this episode we hear how Jason's company Bmor, a specialist regeneration developer and investor with a €1bn portfolio of complex, mixed-use, regeneration & restoration projects operate.
At heart they are bed specialists in that they focus on;
Housebuilding
Build to Rent
Social Housing
Hotels
Purpose Built Student Accommodation
Caravans
but more importantly the reasoning they use when they jump into each of these sectors.
This one is really a belter of an episode it is both inspirational and full of fantastic tips for any property business.
Thanks again to our sponsors www.978finance.com for making the episode possible. They provide fantastic rates in Bridging & Development loans, commercial mortgages and also Buy to Let products
This episode is also sponsored by Rod & Adam Lawrence's next Property Business Workshop on Joint Ventures and Due Diligence which takes place on 24th April in London. Find out more here https://www.tickettailor.com/events/boardroomclubconsultingltd/1136058
We are also on YouTube and you can watch this episode as well as other on https://www.youtube.com/@rodcastITP don't forget to subscribe
If you enjoyed this episode or any others please write us a review and share with friends. We really appreciate it.
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I was delighted to welcome back Paul Higgs to the Rodcast.
Paul was last on the Rodcast in 2020 on episode 15. If you have not listened to it please give it some of your time as it discusses Paul's amazing career from being Head of Land at Barratt Homes (The UK's biggest House builder) to his own business. https://shows.acast.com/rodcast/episodes/paul-higgs-development-land-and-planning
In this episode we discuss the difficulties of being a Property Developer in the UK and how to navigate the volatile industry including;
How Paul was able to win at appeal where others had failed on a complex Greenbelt site.
The realities of what the Green Belt is and what the government is doing to enable or discourage development on it.
Biophilic design and why it is important.
Common mistakes developers make.
Managing expectations of timeframes on development deals.
How the current planning system is affecting the building of new homes in the UK.
As always thanks to our sponsors at www.978finance.com for making this episode possible. Please contact them for any property financing needs.
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Richard Berridge CEO of the UK Single-Family Association SFA https://uksfa.org/ has over 40 years experience in UK Residential Real Estate.
We had a brilliant conversation centred on Richards passion for rental Houses
We discussed;
Richards Career and how he came to be CEO of UKSFA
The history of Build to Rent (BTR) in the UK.
The current make up of BTR in the UK
Who have been investing in BTR in the past and how is that changing.
How the UK compares to other markets in terms of BTR and single family rental homes.
The benefits of Single Family rentals for tenants and wider communities.
Why institutional money have generally stayed on the sidelines when it comes to UK residential property and if this is changing.
This is a must listen for anyone growing a residential portfolio in the uk.
Thank you to our sponsors www.978finance.com for making this episode possible.
Don't forget you can watch this episode as well as other Rodcast episodes on our youtube channel https://www.youtube.com/@rodcastITP
Don't forget to subscribe
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Adam Lawrence joins me in this episode to discuss Joint Ventures and the mistakes people make as well as due diligence and some info on M&A in SME property businesses.
We will go into much more detail at our live workshop in London on 24th April. More info here https://bit.ly/propertybusinessworkshop2
Points we cover in this episode are;
Joint Ventures
What do you want from a business partner. Where do you need to be aligned and where does it help to be different.
What happens in the event of a dispute. What are typical traps business partners fall into.
How can shares and what is included in Articles of Association mitigate issues.
The difference between Articles of Association and a Shareholders agreement and why you may use one over the other.
Why do people tend to fall into these traps when going into a business together.
Some examples of what can go wrong and what to include in an agreement to mitigate the chances of that.
Ensuring everyone knows where they stand in the event a dispute takes place and the mechanism that will be used to come to a decision.
Key person issues.
What to do if you are already in business and do not have these things in place.
Utilising Trigger Events.
Due Diligence on partners.
How to work out if a person or company will be a good custodian of your capital.
Return of Investment before Return on Investment.
Evidencing what people say.
Why accounts matter.
Ways of dissolving companies.
Online and offline due diligence.
Secured and unsecured debt and how to look at both and the real leverage someone or a company is really under pressure from.
Subordination and order of priorities.
How do you underwrite a deal as well as a person/organisation.
How to manage expectations when lending.
Mergers & Acquisitions on SME property Businesses.
Benefits of buying a company holding assets rather than the just the properties... It is not just Stamp duty.
Negotiation points from both the buyer and seller.
We will be going into far more detail on these topics at a live workshop event on 24th April in London. You can get more details for the event as well as buy tickets https://bit.ly/propertybusinessworkshop2
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Joined again by Adam Lawrence and Manish Kataria we each pick a specific investment that anyone can do in their ISA or pension and explain the reasoning behind it.
As well as our picks, we discuss;
Pound cost averaging,
changing a portfolio for retirement
Bias to home nations
How value vs growth has performed
Nominal vs real numbers.
How long do you hold specific investments for and what makes you make a decision to sell or not.
Rod's pick is one of the Vanguard lifeStrategy funds which is 100& in equities with a bias to UK and USA. https://www.vanguardinvestor.co.uk/investments/vanguard-lifestrategy-100-equity-fund-accumulation-shares/overview
Adam's pick is Developed countries small cap value ETF https://www.ishares.com/ch/professionals/en/products/317548/ishares-international-developed-small-cap-value-factor-etf
Manish's pick is an energy ETF with a weighting towards American Oil producers https://www.google.com/finance/quote/XLE:NYSEARCA?sa=X&ved=2ahUKEwj71Jn_sb6DAxWOQUEAHYwHCCUQ3ecFegQIKBAX
For more info about the Boardroom Club please email me rod@incomethroughproperty.co.uk
For information about finance for property investors regarding mortgages and development& bridging loans please contact our sponsors 978 finance simon@978finance.com
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I spoke with Daryl Norkett the Head of Real Estate Proposition at Shawbrook Bank, one of the biggest Buy to Let and property investment lenders to discuss how mortgages work from the banks point of view.
You can also watch this episode on our youtube channel https://youtube.com/@rodcastITP?si=MbqPWAGHJEmlvcfZ please don't forget to subscribe and hit the bell icon.
This episode is vital listening for investors concerned about mortgage costs and who want to understand which factors affect pricing.
With the emphasis being on SWAP rates for the last year or two, hear how deposit led banks could be affecting mortgage pricing in this higher rate environment
Daryl gives a great run down of what has been happening in the mortgage market over the past 12 months.
What he feels needs to happen in order for mortgage rates to go down and what the time lag between those events happening and the price cuts occurring will be.
What makes some lenders pull mortgage deals while others wont need to.
How the high arrangement fees on many mortgage products affect the banks risk in terms of loan to values.
And lots more ...
How National Insurance cuts and fiscal drag can affect property investors portfolios in different ways.
- If you have requirements for Buy to let mortgages, commercial mortgages, Development loans or bridging Loans then please contact simon@978finance.com our sponsor who has done an amazing job of financing all aspects of my portfolio.
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In this episode I run through the points of the Autumn Budget that are relevant to the Property Industry including parts that were not in Jeremy Hunts speech.
Largest ever increases to minimum wage.
LHA increased to 30th percentile of local rents.
Freeze on how Business rates are calculated and the discount in leisure, retail and hospitality is extended.
£3mil invested into pilot schemes to improve the process of buying and selling homes.
A consultation to start early next year on a new PD right to split a house to 2 flats.
Annual Tax on Enveloped Dwellings (ATED) to increase by 6.7%.
Guaranteed accelerated planning decisions on big developments in exchange for a fee.
Local development orders to speed up planning decisions for key commercial developments.
£110 million to deliver schemes to offset the stall on nutrient neutrality.
Affordable Homes Guarentee scheme to expand by a further £3billion so HA's can access cheaper loans for developing new homes.
£450 million to local authority housing fund to deliver 2,400 new homes for refugees and help homelessness.
£120 million for homeless prevention.
Mortgage Guarentee scheme extended for 18 months which allows buyers to borrow 95% LTV.
To read the Autumn Budget notes in full you can download this document file:///Users/rodturner/Downloads/DOC-20231122-WA0019..pdf
As always thanks to our sponsors 978 Finance. If you are looking at finance please contact simon@978finance.com
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I was joined by Simon Das from the award winning Mortgage brokers 978 Finance to discuss the latest Property News.
Simon gives us a great update on;
The Buy to Let mortgage market.
Commercial mortgages and where prices are at now.
Development and Bridging loan market.
We also discuss;
The latest inflation figures and what that means.
The 7th Housing Minister in the last 21 months and what it really means for us.
The planning fees increasing and whether it will change anything.
Modern Methods of Construction.
How rents in commercial properties are rising but the Net Asset Values are reducing.
The latest guidance on Damp and Mould which can be seen here https://www.gov.uk/government/publications/damp-and-mould-understanding-and-addressing-the-health-risks-for-rented-housing-providers/understanding-and-addressing-the-health-risks-of-damp-and-mould-in-the-home--2#identifying-and-addressing-damp-and-mould-in-your-property
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I am joined in this episode by Ian Humphreys the CEO of Brickflow.
Ian explains why he, along with industry experts such as Knight Frank and PWC, came up with a white paper (https://brickflow.com/solving-the-uk-housing-shortage) to present the government with.
He talks about what has led to the UK having a deficit of over 4.75 million Homes and possible solutions around;
Planning
Funding
Land Supply
Development Incentives
Affordability
Supply Chains
which include Technology, Modern Methods of Construction and a thorough analysis of the Green belt amongst other things. Listen to the episode for all the details.
Thank you to our sponsor 978 Finance. If you do have any requirements for Buy to Let and commercial mortgages or Bridging and Development Finance they are the people to speak to. They have helped me finance some complex deals and i am happy to say that i have now bought into the business! Email simon@978finance.com fo get more information on the best products for your deal.
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In this episode I give a run down of the latest Property News.
I go into details of the Kings speech briefing notes on the Leasehold & Freehold Reform Bill and what each point means for property investors.
Also the points raised from the Renters Reform Bill that were written about including how the government expect to carry these out and what they mean in reality.
I also talk about the latest figures from Nationwide and Halifax House price index's.
I touch on some of the traps currently in the murky world of property tax including mitigating section 24 and also SDLT relief claims.
As I mention we are excited to bring you our Mortgage Brokerage which specialises in BTL, commercial mortgages, Bridges and Development loans. If you do have any questions about financing your properties or sites please feel free to contact myself rod@incomethroughproperty.co.uk or my business partner Simon Das simon@978finance.com
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I am joined again by Manish Kataria and Adam Lawrence to do our quarterly Investment Mastermind. These episodes are a bit of fun where we each pick one investment such as an ETF, Stock, Bond or REIT and explain our reasoning. Pretty much all of our picks can be invested in via an ISA or Pension wrapper but these episode are NOT INVESTMENT ADVICE.
We start the episode by giving a roundup of the investment environment along with how certain markets have performed and what we feel the outlook is.
We then get onto our picks.
Adam chose UK30 Year GILT which yeilds 5.102%
Rod Chose The UBS ETF (LU) Bloomberg TIPS 10+ UCITS ETF (hedged to GBP) A-dis seeks to track the Bloomberg US Government 10+ Year Inflation-Linked Bond (GBP Hedged) index. The Bloomberg US Government 10+ Year Inflation-Linked Bond (GBP Hedged) index tracks inflation-linked US government bonds.
Manish chose GDX. It's a play on the gold price but more leveraged, through gold miners.
Have a listen to find out why
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I am joined in this episode by Anna Clare Harper. Anna's career has focused on strategic residential investments throughout regulatory and market changes which made me very eager to speak to her about the Governments recent scrapping of EPC targets and what that means for property investors.
We discuss;
How EPC targets align with the two main Policy trends which are cross party agreement on making the private rental sector more professional and the legally binding target of reaching net zero by 2050.
Why the target that was scrapped was impossible to achieve.
Why EPC calculations are not fit for purpose.
Why investors should continue to ensure their properties are as Energy Efficient as possible.
Why the UK housing stock leaks the most energy in Europe
Suggestions of some policies that could be put in place for a more sustainable housing market.
You can read more about Anna's suggestions in A Vision for the UK Housing Market - Cambridge University Land Society's Whitehall Group - https://www.culandsoc.com/wp-content/uploads/2023/04/Final_Housing-Policy-Whitepaper-Whitehall_Apr23_ART.pdf
And you can find more information on her career and business below as well as her podcast.
annaclareharper.com
greenresi.com
LinkedIn https://www.linkedin.com/in/annaclareharper/
Podcast: bit.ly/returnpodcast
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Building a short term rental portfolio of 6000 units accross 7 countries in a short space of time is an incredible achievement!
And this is one of the incredible feats my guest on the latest rodcast episode being released tomorrow has done.
Alexander Limpert Co founder and CEO of GuestReady tells us about;
How he identified the short term rental industry as one he wanted to be in.
What makes a good property for short term let's.
How does the industry differs across countries and what can the UK market learn from other locations.
What data and trends he sees that may surprise us.
How tech has enabled incredible growth and quality.
Lessons he has learned that he wished he knew when he started out.
Challenges in scaling the business.
The biggest risks to Short Term Rental industry.
You can find more info on Guestready at https://www.guestready.com/
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In this episode I am joined by James Nevin the CEO of Blue engineering https://blueengineering.co.uk/ and Re Structured https://re-structured.com/ to discuss the importance of structural design on projects.
We discuss;
James' background.
The concept behind Re structured.
Traps that SME developers get caught in when choosing a structural engineer.
What developers should consider before they go ahead with a structural engineer.
The different types of costs associated with structural design and how to reduce them.
And lots more.
Manish Kataria and Adam Lawrence join me once again to discuss our latest quarterly investment picks.
If this is your first time listening to the Quarterly Investment Mastermind we each pick a stock, Bond, ETF or any other investment asset class and explain our reasoning and then open it up for comments to the others.
In this episode we discuss what has happened in Asset Classes for the first half of the Year with the Nasdaq having its best H1 of all time and the big tech names holding up the S&P500 whilst FTSE 100 has not done much.
We then go onto our picks. Whilst we all agreed that many REITs look good value at the moment we each chose the following;
Adam chose an Indian Tech consulting company, Infosys (INFY)
Manish chose an Emerging Markets ETF, iShares Core MSCI Emerging Markets (EMIM)
And I chose Agilon Health Inc (AGL) an American Health Platform for Seniors.
Have a Listen to find out our reasoning.
In this episode Adam and I discuss;
The latest Inflation Print.
The Bank of Englands Response.
What are the tools that the Bank of England has at its disposal to reduce Inflation.
Demand vs Supply Inflation Issues.
What this means for Property Investors.
Some traps that Property Investors should be concerned about.
And much more
If you are interested in The 7 day Property Business retreat that Adam and myself run along with Sue Sims in October please email rod@incomethroughproperty.co.uk
I was fortunate to get to speak with Matt Haycox who has a fascinating story of building an empire only to lose it all and having to start over.
In the episode we discuss;
How he got into business.
What motivated him.
Some of the businesses he built.
His Ventures into the leisure industry.
His Debt fuelled expansion.
The fallout from Bankruptcy.
How he started again and went into the industry that was on the other side of the table when his previous businesses became insolvent.
What he deems as secure assets.
How challenging times build resilience which is such an important trait for successful business owners.
The dangers of expectations vs reality.
What success looks like to him.
Capital Intensive Businesses.
Easy Capital keeps poor businesses in business.
His thoughts on social media and lots more...
You can find out more about Matt's story and his businesses here https://matt-haycox.com/
Myself and Tony Houlihan delve into the detail behind the latest property news headlines to make sense of the stories.
In this episode we discuss details on ;
The Renters Reform Bill
Purple Bricks bought out for £1.
100% Mortgages are back.
£250 million Investment into Stockport City Centre.
If you are interested in attending this years Property Business Retreat please email rod@incomethroughproperty.co.uk
I spoke to Jason Harris-Cohen to understand what's involved in scaling a Property Cash Buying Business. It really was a fascinating discussion hearing about Jason's career and how he started and scaled Open Property Group https://www.openpropertygroup.com/
Jason clearly understands every aspect of his industry and how to optimise his business. We discussed everything from;
-
Raising finance
-
What properties to target.
-
Reasons people sell to cash buying companies.
-
Carrying out Due Diligence at speed.
-
Deciding whether to sell a property or hold it in the investment portfolio.
-
Lead generation.
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Cost per acquisition.
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Government Intervention.
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SDLT Reliefs on breaking chains and new builds.
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Macro Environment.
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Adapting a business.
-
And lots more.
Please don't forget to give the Rodcast a 5 star review on the platform you listen to podcasts on and share the episode with any friends.
Many Thanks as always to our sponsors www.signaturepropertyfinance.co.uk
I was joined by David Sandeman who really does know it all when it comes to property auctions in the UK.
He tells us;
The background to setting up his business 33 years ago Essential Information Group which is a comprehensive data and reporting system for UK property auctions. It has data on over 800,000 auction lots with 35,000 added each year.
Why auctions are a useful precursor to what happens in the wider property market.
What metrics should be used to judge different auctions if looking to sell or buy at auctions.
The effect Covid has had on auctions.
Some of the tricks of the trade and traps to watch out for if you are buying at auctions.
Current auction stock levels and what that means.
And lots more.
EIG sends out a fantastic newsletter each month which you can find here. https://www.eigpropertyauctions.co.uk/news/newsletters
As always huge thanks to the sponsors of the episode www.signaturepropertyfinance.co.uk
Our podcast attracts great guests from our listeners sharing the episodes with friends and leaving us good reviews on the podcast platforms. Please help us to grow by doing so.
Raj Sharma joins me on this episode to discuss the latest Property News.
In the episode we discuss;
The latest news on Holiday Lets and will they have their own planning use class.
Is Commercial Real Estate the most at risk sector with fall out from the Banking Crisis in the USA.
The latest stats on MEES and energy performance of Commercial Real Estate.
Quality of Housing and what locations have the most sub standards of living.
Latest research from Hamptons on Landlords leaving the market.
REIT's and how their Net Asset Values (NAV) have been adjusted.
The latest Inflation readings and what sectors of property may be most at risk.
The latest affordability metrics from Nationwide.
As always please follow/subscribe to the Rodcast on your favourite podcast platform so you do not miss an episode. If you like it please leave us a 5 start review.
THIS IS NOT INVESTMENT ADVICE
I am joined once again by Adam Lawrence and Manish Kataria to give a a thorough breakdown of the investment landscape and pick our investments for this quarter. Each quarter we each pick a retail investment such as a stock, ETF, Bond or anything else that is fairly easy for most people to buy as well as being hands off.
We start the discussion with a breakdown of the Banking crisis and how the landscape in America and the UK and Europe currently differ.
We then move on to give an update on our previous investment picks and their returns to date.
Our picks for this quarter are as follows;
Adam has gone for a US Regional Banking ETF with the ticker KRE.
Manish has decided on a US Tech ETF with ticker XLK.
I struggled to choose between Barclays (BARC) and Glencore (GLEN) but eventually settled on Glencore the mining stock.
Thanks as ever to our sponsors www.signaturepropertyfinance.co.uk who make these recordings possible.
If you are interested in more information about the Property Business Retreat please email myself on rod@incomethroughproperty.co.uk
If you enjoy the Rodcast episodes please do not forget to give us 5 stars and a review on the podcast platform you listen on.
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Adam Lawrence and Myself unpick the News Stories from the last 2 weeks to understand what they mean for Property Investors.
We discuss;
Rent Controls, Landlord Taxes & Legislation - Looking specifically at the latest comments from Michael Gove on Rent controls and Landlord Taxes.
What the Budget Meant for Property - There was not a huge amount of Property related points in the Budget speech but if you look through the detailed notes there is one that may impact supply of homes.
The Banking Crisis in the USA, Credit Suisse and what this can mean for UK rates & Property.
Evergrande & the Restructuring of Overseas Debt and How this Affects Global Real Estate.
Breaking Down the Latest UK Inflation readings. Food prices, Energy, Housing costs etc and the difference between CPI, CPIH and Core Inflation and what they all mean for us.
For more info about the Boardroom Club that myself and Adam run please contact rod@incomethroughproperty.co.uk
Thanks again to our sponsors www.signaturepropertyfinance.co.uk
This is another cracker of an episode which is jam packed with phenomenal advice for anyone with a residential portfolio.
I am Joined by Ross McColl who, with his brother owns and operates a high yielding portfolio of approximately 300 residential units in the South East.
We discuss;
How Ross left school at 16 with no qualifications then going back into education to do a Masters at Imperial College London in Finance and Economics in order to become a Citi Bank Trader.
How he fell in Love with numbers and realised he could use his skill set to enhance a poorly run family property portfolio.
How being thrown in at the deep end and having to asset manage difficult assets including dealing with over 150 evictions) gave him additional skills.
The types of property that he invests in and why and how that has changed over time.
Why looking at yield is such a strong driver for him.
The types of tenants and why he began to focus on Temporary accommodation as a way to mitigate risk.
Why he feels the lower end of the market has less room to fall.
His approach to maintenance and focusing on the long term.
Why he is so concerned about the removal of Section 21, EPC requirements and interest rates and what he is doing to mitigate those risks in his business.
What he knows now that he wished he knew when he was getting started in property.
How technology has benefitted his business
And much more...
As always thanks to our fantastic sponsors Signature finance who are lenders of Bridging and Development products. Don't forget to contact Tony@signaturepropertyfinance.co.uk and mention the Rodcast to have your legals paid for on their bridging or development loans.
Ross mentioned https://www.konnexsion.com/ which I also use as a tool for property management which we have found to be a great product.
Please leave a review on the podcast platform and share the episode with anyone you feel would be interested in it
Hosted on Acast. See acast.com/privacy for more information.
This is the first of our series on Property News Updates which we will be bringing you every fortnight.
In this episode I am joined by Alicia Barlow who helps me to digest the big property news stories as well as deliver our opinions on them.
We discuss;
The most expensive residential property in Britain that has gone on the market for offers in excess of £250 Million.
The latest report from Carbon Laces on EPC's vs the actual Energy usage of the 17,000 homes they researched. They found that on average EPCs overestimate Energy usage by 91% compared to actual usage which begs the question do we actually need to bring properties up to a C on EPC's and are EPC's fit for purpose?
Home REIT - Two of their largest tenants have gone into voluntary liquidation, Several other tenants are taking them to court and withholding rent and they were last trading at almost 70% below their Net Asset Value.
Mortgage Prisoners from prior to lending criteria changing. What does the new report funded by Money saving Expert say https://www.moneysavingexpert.com/mortgages/mortgage-prisoners/
Why Landlords are selling up? Why there is a net reduction in available dwellings when stock transfers from the private rental sector to owner-occupation. How this will affect the rest of the market as well as the public's perception of the Private Rental Sector?
For more information about the Partners in Property Network meetings mentioned please visit www.partners-property.com
If you are interested in the 7 day Property Business Retreat please contact me rod@incomethroughproperty.co.uk
As always a huge thanks to our sponsors www.signaturepropertyfinance.co.uk
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In this episode we are joined by James Hadley from www.propertyfrompensions.co.uk
James has a depth of knowledge on all things to do with property and pensions.
If you think this is another sales pitch from a product seller about SSAS pensions then think again. James discusses the biggest mistakes he sees when people want to set up SSAS pensions.
James gives great insight into the tax advantages of different types of pensions for holding property in as well as the costs of them and at what point different types of pensions are viable for investing in property.
He goes onto to discuss GDCV's and how they can be used to allow your pension to own residential property,
How pensions can protect business owners from creditors
How to look at pensions as just a part of your holistic approach to your finances and long term plans
and lots more.
As always if you enjoyed the episode please share it and leave us a review.
In the 4th episode of our series on investment picks we look over the investment environment as well as looking at how previous picks have performed so far.
We then go on to discuss our investment picks for the last quarter of 2022 which include;
High Yield Emerging Markets Bond ETF
Gold
and
REITs
If you enjoy the show please do not forget to leave us a review it helps us in our rankings and to attract more guests.
I had a fantastic discussion with Ben Green, Principal of Atrato Capital the Investment Advisor to The Supermarket REIT (SUPR)
SUPR is a FTSE 250 real estate trust and the UK’s only specialist grocery property investor. Atrato have advised SUPR since it’s IPO in 2017.
Atrato sources, advises and asset manages all of Supermarket Income REIT's investments.
Ben has over 20 years’ experience structuring and executing real estate transactions. He has completed more than £3.5 billion of sale and leaseback transactions with occupiers including Barclays, the BBC and Tesco.
Ben qualified as a lawyer in 1997 and began his career at Wilde Sapte and Linklaters LLP. He left law in 2000 and has since spent his banking career at Barclays, Lloyds and Goldman Sachs where he was Managing Director, European Head of Structured Finance.
In this episode we discuss;
Why there is a belief that Supermarket assets are a resilient and counter cyclical asset class?
How did the supermarket sector perform in previous recessions such as the GFC and what if anything may be different this time around?
Why investors would invest in Supermarket assets when they yield similar to UK Gilts?
SUPR recently fixed all its variable debt with an average period of 4 years and interest rate of under 3%. Fantastic! What would be some of the changes in the market you would want to see before SUPR moved some of that debt to variable rate or considered drawing down new debt without hedging?
Around 81% of SUPR’s stores have index-linked rents. Is it concern you that many are capped at 4% increases despite inflation numbers going above that?
Omnichannel Supermarkets seemed to thrive during the pandemic due to their ability to be adaptable. Is it expected that those gains made will return to pre pandemic levels?
Around 12% of grocery shopping is done online vs in person. Which is more profitable for SUPR’s tenants and is that 12% expected to increase or decrease in the short and medium term based on cost of living issues?
SUPR and British Airways Pension Fund hold a 50:50 stake in a JV which holds a 51% interest in the Sainsbury’s Reversion Portfolio. That portfolio is one of the largest in the UK with 26 stores. What advice would you give to businesses looking to position themselves as an attractive partner in a Joint venture?
What Ben thinks about grocery led shopping centres or retail parks for the future vs stand alone stores? What are the positives and negatives?
What are the biggest risks to this asset class currently and what are the key mitigants?
What are some of the most obvious similarities and differences around the world in Supermarket assets?
And lots more...
Find out more information about The Supermarket REIT (SUPR) here https://www.supermarketincomereit.com/
You can also find out more about Atrato Group here https://www.atratogroup.com/
Thank you to our sponsors of the episode www.signaturepropertyfinance.co.uk If you require bridging or development finance please contact tony@signaturepropertyfinance.co.uk and quote the Rodcast to get your legals paid for.
Hosted on Acast. See acast.com/privacy for more information.
Mike Kovacs is a founding partner of uk based real estate investment firm, Castleforge. https://castleforge.com/
Under his leadership they have invested £1 Billion of asset value into the UK and Europe combining research-led investment themes with vertical integration and in-house operating platforms.
Mike has a great way of explaining how he identifies sectors in the real estate market to invest in.
In this episode we discuss;
How did someone from the states working in M&A at Blackstone become an investment manager specialising in UK and European Real estate?
What's more important, investing with good management or investing into a good sector?
How he decides on what sector to invest in for example flexi office space?
How he sees different types of office investments performing over the next few years?
What metrics or data would he would need to see to change his mind?
How does the UK market differ to other markets?
When investing into real estate how long is he forecasting to be in the investment until it matures.
What has been the hardest thing about raising capital for investment and what advice would he give to people trying to raise capital?
What advice would he give to a young person looking to get into the property investment industry?
What is he bullish and bearish on?
What is the biggest risk to his portfolio and what is he doing to mitigate it?
What has been the biggest challenge in scaling his business?
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Paul Davis is probably best known for being a Co founder of Nimbus Maps, a tool for Property Developers and Investors to find the best off-market opportunities, assess them quickly and connect with owners. But did you know that Paul has a fantastic career in real estate prior to this including;
a family investment business, starting and scaling a property consultancy advising Blue chip clients on Real Estate deals.
In this episode we discuss;
How Paul fell into the Family Property Investment Business.
How that family investment business operated at the time and the type of assets they invested in and why.
How Property Investment businesses differed then to now.
The power of creating Capital uplift through asset management.
How he and his brother started a consultancy business helping Blue Chip clients on their real estate deals.
Some examples of how they saved these huge organisations £millions.
How working with larger institutional clients differed from investing in lower value property assets.
What advice he would give when working with family.
How the recession we are currently facing compares to the last one for Paul.
Did his and his brothers Oxbridge degrees in Engineering get put to good use?
What made him pivot from consulting blue chip clients to starting Nimbus Maps.
The toughest parts of scaling their business.
And much more.
You can find out more about Nimbus Maps here https://www.nimbusmaps.co.uk
Hosted on Acast. See acast.com/privacy for more information.
Paul Davis is probably best known for being a Co founder of Nimbus Maps, a tool for Property Developers and Investors to find the best off-market opportunities, assess them quickly and connect with owners. But did you know that Paul has a fantastic career in real estate prior to this including;
a family investment business, starting and scaling a property consultancy advising Blue chip clients on Real Estate deals.
In this episode we discuss;
How Paul fell into the Family Property Investment Business.
How that family investment business operated at the time and the type of assets they invested in and why.
How Property Investment businesses differed then to now.
The power of creating Capital uplift through asset management.
How he and his brother started a consultancy business helping Blue Chip clients on their real estate deals.
Some examples of how they saved these huge organisations £millions.
How working with larger institutional clients differed from investing in lower value property assets.
What advice he would give when working with family.
How the recession we are currently facing compares to the last one for Paul.
Did his and his brothers Oxbridge degrees in Engineering get put to good use?
What made him pivot from consulting blue chip clients to starting Nimbus Maps.
The toughest parts of scaling their business.
And much more.
You can find out more about Nimbus Maps here https://www.nimbusmaps.co.uk
Hosted on Acast. See acast.com/privacy for more information.
THIS IS NOT INVESTMENT ADVICE
I was joined by Adam Lawrence and Manish Kataria for our Investment Mastermind for Q3 of 2022.
In these episodes we discuss the markets and then discuss what investments each of us are making in the Financial Markets.
As ever we discussed the current markets and how the economy, Inflation and Interest rates are and maybe will, affect them.
Topics include;
Terminal Interest rates.
How Bond yields correspond to Price to Earnings of some of the bigger markets.
Core Inflation vs Inflation including Energy and Food.
Sterling vs other currencies
Oil Prices
Central Bank views of short term pain as a price to pay for longer term stability.
Wage Price spirals in other periods of Inflation vs now.
Energy Caps
Tax Cuts
Bond Yields and their effect on Equities
Value vs Growth
Portfolio selection
This quarter our picks are as follows and you can listen to the reasons why;
Manish - Microsoft (Ticker MSFT) - from 26.00 minutes
Adam - Short on UK 5 year Gilt via shorting a bond ETF - from 37.11
Rod - Antofogasta (Ticker ANTO) - from 46.29
As ever we really appreciate any reviews on Spotify and Apple iTunes and we love to hear your feedback
Hosted on Acast. See acast.com/privacy for more information.
THIS IS NOT INVESTMENT ADVICE
I was joined by Adam Lawrence and Manish Kataria for our Investment Mastermind for Q3 of 2022.
In these episodes we discuss the markets and then discuss what investments each of us are making in the Financial Markets.
As ever we discussed the current markets and how the economy, Inflation and Interest rates are and maybe will, affect them.
Topics include;
Terminal Interest rates.
How Bond yields correspond to Price to Earnings of some of the bigger markets.
Core Inflation vs Inflation including Energy and Food.
Sterling vs other currencies
Oil Prices
Central Bank views of short term pain as a price to pay for longer term stability.
Wage Price spirals in other periods of Inflation vs now.
Energy Caps
Tax Cuts
Bond Yields and their effect on Equities
Value vs Growth
Portfolio selection
This quarter our picks are as follows and you can listen to the reasons why;
Manish - Microsoft (Ticker MSFT) - from 26.00 minutes
Adam - Short on UK 5 year Gilt via shorting a bond ETF - from 37.11
Rod - Antofogasta (Ticker ANTO) - from 46.29
As ever we really appreciate any reviews on Spotify and Apple iTunes and we love to hear your feedback
Hosted on Acast. See acast.com/privacy for more information.
Charlotte has a stellar track record in Banking having been a Partner at Goldman Sachs and then as a Wealth Manager having won various awards and being Co Founder of Netwealth https://www.netwealth.com
This Episode is Jam packed with info.
We discuss;
Charlottes background and why she co founded Netwealth.
Individuals relationships with managing money.
Property vs other investment options.
Benchmarking your portfolio.
Investment exposure and concentration.
The need for capability when focusing on direct investment in a specific asset class.
Volatility in the market.
The importance of liquidity.
Property vs Pensions invested in financial markets for funding retirement.
Wealth management Fees and what investors should understand about them.
The impact of reducing wealth management fees on your retirement.
In recent times its the markets that have performed and not necessarily the wealth managers.
Understanding the type of wealth advice you may need.
Importance of having no emotional attachment when investing.
How should people go about finding a wealth manager and questions to ask?
Common mistakes in family finances and Estate Planning.
If you would like to know more about Netwealth and the services they provide please visit https://www.netwealth.com
Our GDPR privacy policy was updated on August 8, 2022. Visit acast.com/privacy for more information.
Tony Gilbertson has over 30 years experience in the property finance market as well as being a property developer during the difficult time of the great financial crisis. He certainly learnt the hard way what being a Developer is all about and used his experience to ensure that his lending business puts relationships at the core of their business model. It is a fascinating story and one I know you will enjoy listening to.
In the episode we discuss;
Tony's Background in Finance and how he became a property Developer.
What happened to him in 2008
What he learnt from the Great Financial Crisis
What made him decide to start a lending business
What has been the hardest part of scaling a lending business
What he sees as the biggest risks to his business and what he is doing to mitigate them.
And lots more.
You can find out more info on Signature by visiting www.signaturepropertyfinance.co.uk
They also have an offer of free legals if you take any development or bridging loan and mention The Rodcast. Email Tony@signaturepropertyfinance.co.uk
For information about the 7 day Property business retreat in October in Lancaster please email me rod@incomethroughproperty.co.uk
See acast.com/privacy for privacy and opt-out information.
I was so fortunate to be joined by Zoopla's Head of Research, Grainne Gilmore to discuss the UK residential market.
In this episode we discuss;
Grainne's background and how she came to be Head of Research at Zoopla?
How does data from the portals typically differ from the likes of Land registry and Office for National Statistics (ONS) data?
Benchmarking performance year on year can not give the clearest picture as the start point may have been in the pandemic but how is the market comparing to the longer term trends?
How have cities performed and what does the data show for their future vs suburban areas?
What data points are important when looking at forecasting House and rental prices?
The biggest risks to the housing market and what can be done to mitigate them?
Samantha Kempe is a Co Founder and Chief Investment Officer of Immo, Europe’s first technology-led residential real estate platform, designed to create quality portfolios of existing single-family rental (SFR) housing at speed and scale. https://immo.capital
After a career in the corporate world of real estate at companies such as Cushman & Wakefield, PWC and Blackstone she met her other co founders and investors whilst doing he MBA at The London School of business and Immo was born.
In this episode we discuss;
Samatha's background in the corporate world and what helped to give her and her co founders the idea to start Immo.
What problems Immo solves and is it seen as an Asset manager or a tech company?
Why does Immo focus on Single Family Homes?
What has institutional money targeted in the past when looking at residential property.
How does the UK market compare to other residential markets?
How has Immo used tech to enable it to build portfolios of single family homes at scale?
And lots more.
For more information about Immo, how to invest with them or for any other information on what they do you can contact Samantha on email Samantha.kempe@immo.capital
This is not Investment Advice
I was joined by Manish Kataria and Adam Lawrence on 21st June 2022 to discuss what is happening in investment markets.
Both guests have a wealth of knowledge about the economy, the markets and investment in various financial assets.
We decided to have a Quarterly Mastermind where we each pick an investment that is open to most people out there. Whether these are ETFs, Index funds, individual stocks or other financial instruments is up to the individual.
We give reasons for our investment choices and then the other members give feedback and concerns on each pick.
We are invested into these investment choices mentioned. Whether the choices will prove to be good in the long term, only time will tell.
Manish's pick - A US financials ETF (XLF) through an option to earn some premium https://www.google.com/finance/quote/XLF:NYSEARCA?sa=X&ved=2ahUKEwiH_46gmsT4AhXFiVwKHX7tC9UQ3ecFegQIHRAY
Adam's pick - Energy Sector specifically Oil and Gas through an ETF (IEO) https://www.google.com/finance/quote/IEO:BATS?sa=X&ved=2ahUKEwjGxLa2msT4AhU-Q0EAHYGxAyoQ3ecFegQICBAY
Rod's pick - An individual contrarian stock pick, Meta https://www.google.com/finance/quote/META:NASDAQ
See acast.com/privacy for privacy and opt-out information.
Hannah Marsh is Co Founder of HomeViews https://www.homeviews.com the residential review platform that provides trustworthy verified reviews and assists buyers and renters in making decisions on their new home.
She is also the Author of the 2022 Build to Rent Report which you can find here https://business.homeviews.com/2022-build-to-rent-report/
In This episode we discuss;
Hannah's background in marketing and business and how she came to be a Co Founder of Home Views.
What were the biggest challenges in scaling her start up business.
How has the BTR market in the UK changed over the past 5 to 10 years.
What are the highest priorities from renters perspectives on new rental stock?
How does what Developers should include into a BTR development change from inner city to suburban sites?
With BTR so highly rated by residents on HomeViews what are BTR developers getting right in terms of their end product?
What are the biggest mistakes you see BTR developers make in terms of their end product?
How important is the management of the rental properties vs the amenities for renters?
How do you see BTR increasing its market share in the UK PRS over the next few years?
What are the biggest risks to BTR developers and what can they do to mitigate that?
and lots more
The link to the BPF report mentioned in this episode can also be found here https://bpf.org.uk/our-work/research-and-briefings/who-lives-in-build-to-rent/
Once again a huge thanks to www.signaturepropertyfinance.co.uk for sponsoring the Rodcast. If you are looking for a Bridging or Development Product get in touch with tony@signaturepropertyfinance.co.uk and when you mention The Rodcast they will pay your legals!
See acast.com/privacy for privacy and opt-out information.
Paul Bridge is the CEO of Civitas a leading impact investor. Paul is responsible for the Social Housing side of the business and joined Civitas after a distinguished career running some of the top Housing Associations and Registered Providers.
Paul was instrumental when Civitas had an IPO of the first social Housing specific REIT on the London Stock Exchange.
In this episode we discuss;
Paul's background and experience in running Housing Associations responsible for 25,000 plus homes
His advice to residential landlords looking to scale their portfolio.
What was it that made him move on to join Civitas?
Social housing and the different types of housing that the term encompasses.
What are the key metrics he looks at for the REIT and what metrics/ data is he finding that investors want to see now that maybe they were not as interested in 5 or 10 years ago?
What we're the biggest challenges in raising investment for the IPO?
How are they future proofing their current stock of housing?
Is there a concern about the increase in new rents in the PRS making a fixed rent for a longer lease period (as many social houses are) look to possibly underperform vs the rest of UK rental stock and cause even less supply to be considered for social housing?
The majority of the Social housing stock they own is existing homes. Does he see Civil investing in more new build stock?
How does the social housing market in the UK compare to other nations and what can we learn from those?
What does he feel some of the biggest risks are to the public and private social housing?
and lots more.
You can find more information regarding Civitas and their Social Housing REIT at https://www.civitasim.com
Once again a huge thanks to www.signaturepropertyfinance.co.uk for sponsoring the Rodcast. If you are looking for a Bridging or Development Product get in touch with tony@signaturepropertyfinance.co.uk and when you mention The Rodcast they will pay your legals!
See acast.com/privacy for privacy and opt-out information.
Jon Rose from Suitable life https://suitablelife.co.uk is not your standard IFA. He became one out of necessity and has an incredibly insightful perspective on how individuals should plan their finances around the different stages of their life. This is such a vital episode for everyone to listen to regardless of your business, job or investments.
We discuss;
Jon's career in Business and property and the life events that brought him to becoming a Financial Advisor.
The mistake people make in focusing on financial products and wrappers and allowing them to be the tail that wags the dog.
Where individuals should start in trying to plan finances for different stages of life, retirement and passing on.
The various stages of retirement and what they mean for us as individuals and the finances that they require.
Wealth creation vs Wealth use and is there any middle ground.
Taking advice from those that are motivated by our decision to purchase financial products or invest into specific assets.
And lots more
We love to hear your feedback so please leave us a review on the platform you listen to podcasts on or at our website https://www.podpage.com/the-rodcast-property-business-investment/ where you can also subscribe to our newsletter
Once again a huge thanks to www.signaturepropertyfinance.co.uk for sponsoring the Rodcast. If you are looking for a Bridging or Development Product get in touch with tony@signaturepropertyfinance.co.uk and when you mention The Rodcast they will pay your legals!
See acast.com/privacy for privacy and opt-out information.
I was joined in this episode by Dion Mellows the Managing Director of SHA Envirnmental https://shaenvironmental.co.uk
Dion is an Energy, sustainability and Carbon consultant for the Built environment who has been awarded by the industry awards for energy for his pursuit of energy performance to make peoples lives better.
In this episode we discuss the difference between carbon reduction, energy performance and improving EPCs, what they all mean and what can be done to improve on each of these in existing building and new builds.
The UK energy market vs other markets.
What are the issues with current energy legislation for buildings?
Typical energy demands of residential buildings.
Where the majority of energy is used in residential buildings.
Gas supply in the UK.
Gas substitutes.
Insulation for reducing heat loss as well as reducing the chances of overheating.
How roof colours and exterior types can improve overheating in summer.
Cost benefit of energy performance for end users as well as property investors.
Cost efficient fixes for existing buildings and new builds for improving EPCs and Energy performance.
The importance of air permeability.
How EPC assesors can assess.
Different certifications of certain materials and how the certifications can differ in their scoring on EPCs
Different types of Electric heating systems.
Changes in the regulations.
Financing benefits of having better EPCs for developers and investors.
As always a huge thanks to our sponsors of the episode www.signaturepropertyfinance.co.uk If you are looking for a bridging or development lender please contact tony@signaturepropertyfinance.co.uk and mention The Podcast to get your legals paid for on any loan.
See acast.com/privacy for privacy and opt-out information.
In this episode I'm joined by investment expert Manish Kataria. If you do not know Manish then it may be worth listening to episode 30 where Manish gave an economic Outlook for Property Prices at the start of the pandemic and his predictions were on the money. Manish joins me again to discuss investment as a whole with some brilliant insights into portfolio construction as well as how you may want other types of investments to fit around your property portfolio.
We discuss how central banks and governments can telegraph their decisions in advance of them taking place.
If lockdowns and restrictions are done is this good or bad for asset prices?
How interest rates drive asset prices.
How important do you think interest rates are for different asset prices?
Do interest rate rises actually affect different types of inflation?
Statistic manipulation and how inflation is calculated vs historical measures of inflation.
Approaching building an investment portfolio of uncorrelated assets.
What the majority of UK real estate is exposed to?
Technology stocks, growth and value rotation.
Passive vs actively managed funds.
Options trading.
And much more
You can learn more about Manish at www.investlikeapro.co.uk
As always a huge thank you to www.signaturepropertyfinance.co.uk for sponsoring this episode. If you have any requirements for bridging or development finance get. in touch with tony@signaturepropertyfinance.co.uk and mention "The Podcast" to have your legals paid on any Development or bridging loan.
See acast.com/privacy for privacy and opt-out information.
As with the last time I spoke to Kwasi in episode 11 I thoroughly enjoyed this discussion.
Kwasi Affum is a VP at Barclays as well as personally investing directly in property.
He has a brilliant way of explaining complex subjects and it is just a shame we didn't have 4 hours to talk.
In this episode we discuss;
Investing for wealth creation vs wealth preservation.
The difference in strategies for investing at institutional level vs personal level.
How Property as a business can often be a private equity play.
How institutional money securitises the income of property.
Property should not be seen as fixed income unless the portfolio is a significant size which is why indirectly investing in REIT's and funds can be better than direct investment if fixed income is desirable.
Environmental trends and does the cost of ESG actually generate a good return.
The office market.
How the timeframe of investing into assets can change the market.
NFTs and the metaverse- what they are and why might people want to invest in virtual land and property.
How thinking about returns of an investment in relation to a risk free rate at different points in time is important.
and lots more.
As ever huge thanks to https://signaturepropertyfinance.co.uk who made this episode possible. If you require a bridge or development product then go direct to a very fast and flexible lender.
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In this episode I spoke with Paul Heming from C-Link https://c-link.com for a discussion on the construction industry.
We discuss how Paul founded C- Link, a platform that brings together all of your subcontract procurement into one Web App. Find subcontractors, manage your supply chain, create automated tender documents, compare prices, issue orders.
How hard has getting buy in from an industry that can seem to be old school or stuck in their ways and what tips would he give to other disrupting companies trying to break into the construction and development space.
What have been some of the challenges in bringing C-Link to market and then scaling it.
How much of whats in the media relating to inflating costs of construction does he put down to labour and how much of it is materials?
What advice would he give to Developers considering not using a main contractor and moving to a subcontractor route for the first time?
What advice would he give to contractors in terms of being able to scale sustainably without compromising on quality?
What does he feel are the biggest risks to developers and contractors in the current market?
How does he advise developers and main contractors to vet contractors or sub contractors?
How has his podcast "Own the build" https://www.buzzsprout.com/1788151 helped his business?
And lots more
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In this episode Mike explains how he started, scaled and exited businesses before a career in Management Consultancy for Venture Capitalist Funds helped him refine his skillset and go on to co found Crowd Property a specialist development lender that has transacted on over £300 Million of deals to date.
We discuss;
Mikes background in business.
The venture capitalist market.
Challenges when scaling businesses.
Finding talent.
Portfolio construction.
Mikes advice to anyone looking at starting or growing pro-tech or finch businesses.
And lots more.
You can learn more about Crowd Property by visiting their website www.crowdproperty.com
Sorry it has been so long since my last episode. I wanted to get something out before the end of the year so here is an unedited monologue (sorry) in regards to the residential investment market.
Hope you take some good bits of info from it.
The podcast is coming back with a bang from January 2022 with episodes every fortnight.
Happy Christmas
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It is businesses like T & B Capital that were the inspiration behind me creating The Rodcast and I have been trying to pin down co founder Ben puddle for some time. I was hugely excited when he said he may have some time once they had confirmed the sale of one of their businesses - Aria Resorts which merged this year for £600 million with Away resorts. Not bad for 4 years work and they look set to complete on £1 Billion of transactions by year end.
In this episode Ben explains;
The background to T & B Capital and why he and Teddy Andrews moved from investment banking to form this Private Equity firm that focuses on operational real estate and asset backed businesses.
Why their investing style can be seen as defensive.
What they mean by cyclical investing and why they invest in certain industries.
Trends such as Healthcare and social housing.
The importance of good management/ talent and why it is key in scaling an investment business.
How his approach to investing would differ depending on the Capital they had at their disposal.
And Lots more.
You can find out more about T & B Capital and their portfolio or businesses here https://tbcap.co.uk
If you would like more information on the property business retreat mentioned in the ad please email me rod@incomethroughproperty.co.uk
As always a big thank you to www.brickflow.com for sponsoring the episode
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If you have been involved in Development then chances are you have experienced one or more of these issues;
Main contractors going bust on a job.
Sub contractors not being paid on time.
Contractors having cash flow problems.
Developer not having evidence of what works sub contractors have been paid for.
Lenders not being happy with your choice of contractor due to their balance sheet or credit file.
Contractors and sub contractors not being able to win tenders due to their balance sheet, credit or cash flow not being strong enough despite being capable.
Contractors and sub contractors not being able to finance or factor invoices to improve cash flow.
Contractors not taking on jobs due to payment terms being too long.
If you have then you will want to listen to this discussion I had with Nisha Singh Co Founder of Transper, a fintech platform that provides liquidity and transparency in deep tier supply chain reducing costs and credit risk.
We discuss;
What is transper and how did Nisha and the team come to create it?
Who are the different parties that can benefit from using transper and why?
Some main contractors may not want their clients eg the developer knowing the prices they are paying sub contractors. What is in place to protect the main contractors?
What value of contract is transper best used for?
How much does transper cost the user?
What have been the challenges in bringing transper to market?
And much more.
As always a big thank you to our sponsor for this episode www.brickflow.com - a comparison tool for development finance.
Check out more details on transfer here https://transper.io/transper/home/
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Julian Evans is a Proprietary Partner & Head of Healthcare at Knight Frank. Since 1994, Julian has concentrated on the valuation, acquisition and disposal of trading businesses. As of 2000 he then specialised in healthcare consultancy (C2/D1 use property), now annually advising on approximately £12 billion of healthcare property. Within the last 2 years his team has won 21/23 major pitches.
Julian’s experience has primarily concerned acting for corporate & private operators, banks, institutions and funds in the valuation, acquisition and disposal of trading care homes, specialist (acute) care homes, hospitals, day centres, medical surgeries, investments and C2 development sites throughout the UK & Europe. Further work has included that of care villages, retirement apartments and day nurseries.
In addition to his work for Knight Frank, Julian is also a Governor of Great Ormond Street Hospital and a trustee to several high profile charities. He is also one of a handful of people to reach the summit of Mount Everest and make it back to tell the tale.
Julian also personally received the Health Investor Power Fifty Grand Prix Award, voted by his peers, as the most influential person in healthcare.
In this episode we discuss
The different types of Healthcare Real Estate.
How healthcare assets typically fit into institutional and individual investors' property portfolios and how that has changed over the last 20 years and how Covid impacted these trend changes.
What is happening in the healthcare real estate market now and what landlords and investors should have their eye on for the future.
What is the biggest risk to Healthcare real estate currently and what can investors and landlords do to mitigate that.
Is the Supported living trend with developers justified.
Will healthcare take up a bigger proportion of real estate in the UK market due to an ageing population.
How does the the UK Healthcare industry compare to other Healthcare markets
And a whole lot more.
Please do subscribe to the Podcast and share it if you find it useful.
If you have a requirement for development finance please do not forget to check out www.brickflow.com the fastest way to get development finance!
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Have you heard people say things like "no one has a crystal ball" when it comes to what is going to happen in the market....
Well duh but as investors it is your job to forecast this as investing is about future income from the assets we invest in.
I welcomed back Adam Lawrence back to the show to discuss just how important forecasting is.
Not only has Adam bought over 400 properties in the last decade but he has a background in wealth management as well as being a fantastically educated investor.
We discuss;
How investing in Buy to let properties has changed over the last 20 years
Ways in which to add value to Buy to let investments.
How associated costs with buying a Buy to let property in a ltd company can add up.
How important capital values are for total returns.
How important time frames are when looking at investment opportunities
What we look for when forecasting.
Various metrics we use.
How illiquid property is and the positives and negatives of that when forecasting.
The different types of property markets based on location, property type and tenancy type.
How riding a market and beating a market are very different.
Comparing investment opportunities in terms of markets, industries and assets.
And lots more.
Big thanks to www.brickflow.com for sponsoring this episode. If you are looking for development finance I highly recommend them.Have lenders bid on to lend to you all in one place rather than approaching lots of different ones.
If you are interested in the Boardroom Club or the Property Business Retreat that myself and Adam host please email rod@incomethroughproperty.co.uk
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In this episode, we are joined by Barak Zimerman, the Managing Director of UK & Europe for REEF Technology. The REEF Platform enables the real estate to be tailored to meet the diverse needs of the surrounding neighborhood. They have built a foundation on top of the traditional parking infrastructure allowing them to get essential products and services closer to the customer than ever before. Barak joined the startup 6 years ago and now the business is a Global Giant with 15,000 employees as well as having raised over $700 million from financial heavyweights such as Softbank, Abu Dhabi’s state fund and Oaktree Capital. They have recently tabled a bid to takeover the UK car park firm NCP.
Barak explains brilliantly the way in which the business utilises data to capitalise on trends such as urbanisation as well as how they add huge value to landlords assets. This really was one of my favourite episodes with so much fantastic information given by someone who thinks about the business in an incredibly thoughtful way.
He also discussed;
What does Reef Technology do and what is their role in real estate?
How are they able to add value to car parks?
Some of the different types of real estate they operate in.
Will the pandemic have changed the trend of urbanisation.
Challenges in growing the business in the UK and Europe.
What the most important metrics are in terms of looking at the businesses performance.
Advice for people looking to join a start up.
https://reeftechnology.com
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In this episode, we are joined by James Sinclair, the Founder, and CEO Of The Partyman Group of Companies. James started his career entertaining as ‘Jimbo the Partyman’ when he was 15, built up an entertainment agency, then moved into acquiring his first soft play venue, laser arenas, day nursery, and outdoor venues. James also shares his story towards success, the challenges and risks one will encounter in growing both an investment and trading business.
Today James operates a business that turnover roughly £13 million a year which includes leisure, childcare, outdoor attractions, a soft toy business as well as an ice cream company.
Highlights:
[01:44] What James’ Businesses Journey Look like
[05:59] What are the main challenges in scaling a business from £100k turnover to £1million and how do these challenges differ from going from £5million to £10 million turnover?
[ 08:14] What is the hardest thing about raising money?
[16:37] Deciding between Reinvesting Profit, Starting a new business with it or Distribute to Share Holders?
[18:27] Does his investment Philosophy Change regarding Trading Operational Business Vs. investing in the Real Estate
[22:05] What are the most important metrics James looks at?
[29:50] How Seasonal his businesses are and what he does to mitigate it?
[32:22] The Biggest Risk in the Business
[34:02] The Kindest Thing anyone has done in James’ Business
Links:
Website: https://jamessinclair.net/
LinkedIn: https://www.linkedin.com/in/jamessinclairpartyman
Youtube: https://www.youtube.com/c/JamesSinclairEntrepreneur
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With all the talk of inflation recently we thought it would be sensible to delve into the mechanics of interest rates and why and how they may increase, when that may happen and what that can mean for different assets as well as investors and developers. Who better to Join us for this than Daryl Norkett.
Daryl is a Director of Lendwell and has had a long career in banking with Barclays and Shawbrook and is a wealth of knowledge on all things Lending.
In this episode we discuss;
With inflation still below the 2% target is a rate rise likely?
The difference between Banks and Lenders.
How the P&L of a loan/ mortgage works.
Why different types of lending platforms can increase risk.
How lenders price risk and how that has changed.
How interest rates affect mortgages.
The different costs associated with mortgage and lending rates other than BOE interest rates.
The different types of Development loans and which are more affected by rate rises.
Other concerns for developers.
When and why interest rates may increase.
House price growth or negative growth.
The property market and affordability and how the banks are regulated to how much of their loan book can be stretched above affordability.
Wage inflation and rent growth.
How much debt is there in residential property in different areas and how will those areas be affected by a rate rise vs others.
How the tenant type of investment properties may be affected by rate rises.
Price disparity between London and other parts of the country and why that matters.
How Bank Of England looks at House prices and their importance on the economy.
When and why property owners may crystallise losses.
Why timing the market is important when leverage in concerned.
...And lots more...
Knight Frank sighted the below report from the BOE and said "A one percentage-point increase in rates, “all else equal, reduces house prices by around 2% to 11%, with the majority [of analysis] suggesting a drop between 6% to 9%.”
https://bankunderground.co.uk/2019/09/05/houses-are-assets-not-goods:-what-the-difference-between-bulbs-and-flowers-tells-us-about-the-housing-market/
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In this episode I have the pleasure of speaking to Connell Grogan, the portfolio manager for Resonance. Resonance is an Impact investment company that works with social enterprises and charities to help them raise capital from like minded investors. They also create and manage award winning investment funds such as their Homelessness fund which has over £250million under management and houses over 2500 homeless people. Their funds deliver a financial return as well as a targeted social impact.
Highlights:
3:13 What resonance does and what it is for?
6:38 Presenting of new funds on investors
7:15 Difference between homelesness fund and housing associations
12:27 How impact investing has changed in the last decade.
14:45 Resonance's Investor Profile
21:14 Considerations on investments and underlying assets
22:26 Asset management and challenges with managing so many units
25:30 Choosing partners carefully
33:09 Delivering capitals in the right way
40:34 Advice to landlords on managing a residential portfolio
Link:
Connect with Connell in LinkedIn:
https://www.linkedin.com/in/connellgrogan
Visit the website:
https://resonance.ltd.uk/about/our-team/connell-grogan
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Despite its controversy, Universal credit is of big help to those who lost their jobs because of the pandemic, those who have low income and for those who are unable to pay rent in full. Tenants are one of those greatly affected by the pandemic and the need for universal credit is a reality, but even before the pandemic started, Landlords were already struggling with the system of Universal credit.
Julie Ford, the founder of Gothard Rowe Landlord Services, has 25 years working in property management as well as working for citizens advice and has experience of Tenancy issues and Universal Credit from both the Landlord and Tenant side. She now helps Landlords that have difficult tenants and those having issues with rent arrears.
In this episode, Julie explains how universal credit works for both the tenants and landlords and she explains the things that a landlord should consider especially if their tenants are using universal credit and those having difficulty paying their rent as well as other tenancy issues such as antisocial behaviour.
Listen to this podcast to be informed of how universal credit works and how to handle difficult tenants.
Highlights:
2:50 Background of terms such as Universal Credit, DSS and council tenants.
6:36 Misconceptions of Universal Credit
7:50 How Universal Credit works for the Tenants and Landlords
9:51 How easy or efficient is Universal Credit when paying to the Landlords
12:41 What landlords should consider when taking new tenants that receive universal credit
14:26 What impacts Universal Credit and its housing benefits
16:16 Joint claim on universal credit and how it affects the tenant
17:20 Advice for landlords that face issues with universal credit
18:38 Common issues with Universal Credit for Tenants and Landlords
19:47 Importance of Tenant and Landlords' Communication
26:32 Biggest failing in the PRS
28:59 Other options available for the Landlords aside from Universal Credit
36:09 Working with Landlords who have tenants in arrears
Links:
Connect with Julie on LinkedIn: https://www.linkedin.com/in/julie-ford-hlpa-35782448
Visit the website:
https://www.gothardrowe.com/
hspn.uk
Send your email:
advice@gothardrowe.com
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Financing Developments is a key part of the deal. However, it takes a lot of time to find good lenders since each lender has different policies and parameters as to what they can lend and under what terms.
In this episode, we will be joined by Ian Humphreys, co-founder, and head of Brickflow ―the very first online search engine for development finance in the UK. Ian will highlight the importance of having Brickflow to make the financing experience better and efficient through connecting borrowers and lenders efficiently without replacing real agents in the industry.
Listen to this podcast to be informed of the new and efficient way of financing developments in the digital world!
Highlights:
● Ian's background in finance and what led him to start Brickflow.
● Efficiency of finding a lender through Brickflow
● Keeping equity required for deals low and debt to the minimum rate
● Term financing and exits.
● Institutional investors in the market.
● The cost of equity vs the cost of debt.
● Are brokers becoming redundant?
● Changing yields from residential properties.
● Build to Rent Opportunity
● Opportunity for developers in the current market
● Digitizing processes to adapt to the changes online
● Why now is a great time for SME's to compete with the bigger boys.
● Technology as aids to easier and time-saving processing
● Challenges of online search engines for development finance
● Biggest risk of the business and how to mitigate it
Visit website:
Brickflow.com
propertyfinancegroup.com
The Development Finance Search Engine | Brickflow.com
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Adam Lawrence joins me again in this episode to discus the Macro Factors affecting the economy, different markets and of course what that means for property investments.
Adam tells his story in episode 14 so make sure you have listened to that episode.
We look back over the past 12 months and what we discussed previously in episode 23 at the start of the pandemic as well as looking forward and discuss;
Sdlt extention.
What's made his mind change in terms of an inflation outlook.
QE and where has the money flowed to and what does that mean?
Household debt.
Are we in a stock market bubble and how is that measured?
Similarities to the dot com bubble.
Characteristics of a bubble.
Tech stocks and how they corrected in the past.
What should the government be investing in?
Infrastructure spending.
Climate change and green energy spending.
EPC plan to get to C and above.
Solar subsidies of the past.
Productivity, population and labour market.
The developed world baby bust and rate at which people are having babies and how that affects labour market.
Effects on housing.
How capital expenditure is needed to keep up with productivity.
What can improve the quantity and quality of the workforce?
What can improve the quantity and quality of assets?
Infrastructure spending.
Space per person in a household.
City living and work from home. Has the novelty worn off of WFH?
Desk space per worker.
Unemployment statistics and the values of jobs lost.
How does the type of unemployment affect specific markets?
What can the government do to lower their debt value without inflation going out of control?
How taxation policies may lower the tax take but be political vote winners?
How property behaves as a leveraged equity but has utility in line with commodities and how that may affect residential property outlook?
How uk housing is currently affordable?
How growth vs value assets behave out of recessions?
Why looking at total returns can be better than yield and how volatility in prices affects different areas?
Traps for investors chasing cash flow?
Investment opportunities going forward?
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When investing and developing real estate of any kind, it is crucial to consider VAT.
VAT can make significant differences to your net returns which is why we need to be educated and knowledgeable about it.
In this episode, Jane Deeks, a VAT specialist from Bell Howley shares her expertise on VAT, its downside and even benefits. Jane will also share the benefits of VAT groups for specific property related activities and goes into detail using case studies of where property investment and development businesses have structured their activities to benefit from VAT.
Key Takeaways:
01:00 Reasons for joining VAT group/ Who qualifies?/ Is it good to consider VAT groups? Why is it useful for property development?
04:22 VAT Exempt Supply and Zero Rated Supply and where it applies
05:27 General rules of VAT
06:43 De minimis rules/ Limit in VAT
07:20 Buying property and putting it into vatable business
08:42 Properties to consider that have VAT opportunities
10:00 Partial exemptions calculations and threshold
14:00 Purchasing a new site with Zero VAT supply
19:30 Converting commercial buildings to residential
22:00 VAT on Commercial Properties
43:59 Ten year zero VAT rating for residential properties
44:09 Reclaimed VAT
Links:
jdeeks@bellhowley.com
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In this episode I am joined again by Ranjan Bhattacharya, Piotr Rusinek and Jay Howard to discuss a few of the properties on offer in the upcoming February auctions.
Please click on the below links to see the properties we discuss and which auctions you can bid for them in.
Lots and the opportunities and risks we discuss;
HSBC Sudbury
How and why tired commercial landlords are starting to sell stock and the opportunities that presents.
South Kensington short lease
Short lease properties and what happens once the long lease runs out.
The hype around the proposed marriage values and leasehold reforms.
Coventry Shopping Centre
Commercial ground rents that are based on revenue.
Starbucks
Blue chip high street tenants and how some investors are making Long term decisions based on short term issues.
Structures of leases with PLCs, franchisees and landlords
Santander Wallington
Santander Chingford
Investment with development potential and how timing can change the value
Please subscribe to make sure you don't miss out on any of the upcoming episodes
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Fraser Slater has 25 years experience as a Real estate analyst, Fund manager, Developer and Buying Agent in Prime Central London Market.
He is the former founder and CEO of one of Europes best performing Hedge funds in the great financial crisis, WDB Capital.
He is now the Chief executive of Ludgrove Property a research firm for buyers in the Prime Central London Property market (PCL) providing research for UNW and institutions.
Ludgroves research on The PCL market really does blow all other research and analysis out of the water in terms of detail. I was in data heaven.
In this episode we discuss
-
Introduction to Ludgrove
-
What are the key Attributes of Prime Central London (PCL)
-
Context: How Far Has The Market Fallen Since 2014?
-
Is the 2014-20 PCL Recession An Anomaly? How does it compare to others
-
Is PCL Cheap? What are the factors/ metrics used to determine this.
-
What’s The Outlook for PCL?
-
What Areas Look Cheapest?
For more information on Fraser and his company Ludgrove property please visit https://www.ludgroveproperty.com or email info@ludgroveproperty.com
If you enjoyed the Rodcast please do not forget to leave us a review on iTunes and to subscribe and follow the podcast on the podcast platform you listen to for free so that you don't miss an episode.
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Ed Mead has spent 40 years working in the London Property market in Estate Agencies as well as being a prolific commentator on all things property with regular columns in The Telegraph, Sunday Times and Property Industry Eye as well as TV shows on the BBC.
In 2016 he left Douglas and Gordon as Executive Director having helped grow the company considerably, to co found an outsourced viewing service - Viewber.
In this episode we discuss;
How scaling a Prop Tech company differed from scaling the estate agency business?
How instrumental PR has been in allowing Ed to grow businesses?
How this recession differs to previous recessions?
What changes made Ed leave the Estate Agency industry to start Viewber?
What have been some of the challenges in providing additional services in viewer such as inspections?
And lots more.
You can learn more about viewber here www.viewber.co.uk
In this December Auction Review I am once again joined by Piotr Rusinek, Jay Howard and Ranjan Bhattacharya to look at 8 upcoming lots in the December 2020 Auctions and delve into how we would approach these opportunities,
The Due Diligence we would perform,
What traps we feel may lay ahead for potential buyers,
What opportunities specific lots bring with them.
This episode is jam packed full of really helpful tips when buying at auction so grap a pen and jot down some notes and follow along by clicking on the below links of each Lot.
We discuss
Why different types of investments will suit some buyers but not others.
The price people will pay for security of income.
Land development opportunities.
Commercial Leases
Developing in low value areas.
Developing in High value areas.
Insolvencies.
Land locked properties
And much more.
Lot 3 Allsop Commercial auction 9th December 2020
https://auctions.allsop.co.uk/lot-overview/freehold-tyre-depot-investment-in-braintree/c201209-035?searchid=g83YBhyIc5XcuyBbCa70Gs6tbMWFGYqA2R%2FJlw3d3hw%3D&idx=2
Lot 1 and 2 Allsop Residential Auction 17th December 2020
https://auctions.allsop.co.uk/lot-overview/vacant-freehold-site-and-garages-in-tidworth/r201217-117?searchid=hX3Xpp0EgUk2YdUTR8ch%2FRyqnrLE1FF10jQhxuGi6Y4%3D&idx=0
Lot 96 Mchugh and Co Auction 1st December 2020
https://mchughandco.com/Auctions/Details.aspx?aid=1121&pid=8e965356-dcf9-449d-8a77-9121f96fc062
Lot 63 Auction House London 9th December 2020
https://auctionhouselondon.co.uk/lot/?lotID=121333
Lot 4 Acuitus Auction 10th December 2020
https://www.acuitus.co.uk/property/4021/
Lot 90 Allsops Commercial Auction 9th December 2020
https://auctions.allsop.co.uk/lot-overview/virtual-freehold-shop-investment-in-bromley/c201209-061?searchid=g83YBhyIc5XcuyBbCa70Gs6tbMWFGYqA2R%2FJlw3d3hw%3D&idx=89
Lot 75 Allsop Commercial Auction 9th December 2020
https://auctions.allsop.co.uk/lot-overview/town-centre-freehold-restaurant-residential-investment-in-windsor-/c201209-087?searchid=WjcRsyrFrqScHL4PUBYdYsdREcKjcEQeEVxZhszQcwg%3D&idx=73
Lot 135 Allsop Residential Auction 17th December
https://auctions.allsop.co.uk/lot-overview/freehold-pair-of-semi-detached-cottages-holiday-lets-with-off-street-parking-and-rear-garden-in-chichester/r201217-297?searchid=hX3Xpp0EgUk2YdUTR8ch%2FRyqnrLE1FF10jQhxuGi6Y4%3D&idx=134
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In this episode I was joined by Allen Chiltern.
As Head of Fund Capital Markets at Patrizia, a global real assets manager with over £47 billion of real estate globally. Allen is responsible for all discretionary and non-discretionary funds. Allen and his international team ensures each fund is fit for purpose including strategy, regulation and marketing plan for each region around the world.
In this episode we discuss the path Allen took to get to this position at one of the biggest Real asset managers in the world.
Background as to what Patrizia does.
The changes in institional investors appetite to residential property.
Alternative residential asset classes.
How institional investors have the power to make markets.
Institutional property investment and the effects it has on the PRS.
Differences between rental sectors in different markets and countries.
Structure of institutional property portfolios.
Some of the differences between "affordable" housing accross Europe.
Legislation changes such as rent freezes and abolishing no fault evictions and the effects these have on markets.
What factors Allen looks for when deciding whether or not to invest in residential housing in a new market.
Differences in investment strategies between direct and indirect investors.
And much more.
For more information on Patrizia and what they do please visit https://www.patrizia.ag/en/
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In this episode I am joined by Andy Fahey, PWC's Global Esports leader. Andy offers some brilliant insight into the fast growing world of Gaming and Esports and what this means for the UKs commercial property sector.
With all the negative media attention that leisure property and the high street are getting this really is a fascinating discussion about some of the opportunities for real estate owners and operators to work with this exciting growing industry.
In this episode we discuss;
What is the Esports industry?
The competitive social trend that is gaining traction.
The sheer size of the Gaming industry and what Esports looks like within that.
Different demographics of Esports and Gaming industries.
Types of real estate that can benefit from Esports and Gaming.
What the forecasts are for UK growth.
And much more.
You can find out more about Andy and see his regular insights into this industry here https://www.linkedin.com/in/andy-fahey-6411592
If you enjoyed this or any other of our episodes please do leave us an apple iTunes review https://podcasts.apple.com/gb/podcast/rodcast-property-business-investments/id1479224466
Paul Roshan has developed over £200million of prime London residential property.
He tells a cautionary tale of how he lost a £120million prime London portfolio in 2008 and the struggles involved in getting over it. An inspirational story from someone who has learnt the hard way and battled their way through the tough times to get back to success.
In the episode we discuss;
How he started in property flipping flats in South West London.
Why he scaled up into the high value prime London areas.
How he raised finance for the deals he was doing.
What happened in 2008 and how it affected him.
How the banks feelings changed toward him.
The misselling of bank swap rates.
What some of the lessons he learnt from the crash were.
The impact of it on him personally.
How he stayed positive and motivated to build up a business again.
What he did different the next time around.
His thoughts on the current prime London Market.
Some of the projects he has been involved in recently.
His advice to other who are scaling their portfolios.
And a lot more...
You can find more info on Paul and some of his projects by visiting https://paulroshan.london/
If you enjoyed the Rodcast and found it of value please leave us a review here https://podcasts.apple.com/gb/podcast/rodcast-property-business-investments/id1479224466#see-all/reviews
If you would like to know more about Rod Turner the host of the Rodcast Please visit his website www.incomethroughproperty.co.uk or you can email info@incomethroughproperty.co.uk
See acast.com/privacy for privacy and opt-out information.
Alex Cadwallader is a director at Leonard Curtis business solutions.
A company specialising in insolvency advice, finance raising, administration, CVA, distressed real estate portfolios and addressing fractured lending facilities, as well as providing directors of struggling businesses with positive strategic advice.
Alex is incredibly knowledgable on a wide range of business subjects and really drove home the point that as business owners we can often benefit from an outside perspective of our organisations especially where we may feel under pressure.
In this episode Alex and I discuss;
Some of the terminology surrounding insolvency.
The options open to Directors and Business owners who are facing financial difficulties.
Some common mistakes that people do when their businesses are struggling.
Examples of when businesses have not been aware of options open to them in order to save their business.
What to do if you feel that your business may face a period where it could face insolvency.
Some truths around insolvencies and why there are more insolvencies in a buoyant market.
and much more.
If you would like to know more about Alex and Leonard Curtis and the services they offer please visit https://www.leonardcurtis.co.uk. I would highly recommend you speak to them if you are concerned about your businesses future in light of current events.
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I am once again joined by the auction specialists; Jay Howard, Piotr Rusineck and Ranjan Bhattacharya to discuss 8 lots coming up for auction. We discuss what we like about the lots as well as what we don't like including traps or potential investment uplifts we feel may be available to potential buyers.
Some of the points we discuss in relation to the below lots are;
Commercial to residential developments
Shopping Centres
Rent Charges
Permitted Development Opportunities.
Adding additional units on top of a building.
Commercial tenancies
and lots more.
The lots we discuss are
Lot 47 Allsop Commercial Auction 3rd November 2020
https://auctions.allsop.co.uk/lot-overview/freehold-shop-residential-investment-in-london/c201103-018?searchid=vPAdiEG98Mt41Tv5pNWUK4aJxn%20%20gs%2FTYGKjeFk%2FPsw%3D&idx=46#description
Lot 80 Savills Auction 3rd November 2020
https://auctions.savills.co.uk/index.php?option=com_bidding&view=commission&layout=details&id=1155
Lot 6 Acuitus Auction 28th October 2020
https://www.acuitus.co.uk/property/3962/
Lot 62 Auction House London 27th October 2020
https://auctionhouselondon.co.uk/lot/?lotID=117245
Lot 92 Auction House London 27th October 2020
https://auctionhouselondon.co.uk/lot/?lotID=117247
Lot 36 Allsop Commercial Auction 3rd November 2020
https://auctions.allsop.co.uk/lot-overview/freehold-restaurant-residential-investment-in-horley/c201103-076?searchid=buFfldk7HOHzxhmswKmQD4kUrxN9ZcCM5GklYoMGkYQ%3D&idx=34
Lot 12 Barnett Ross Auction 28th October 2020
https://www.barnettross.co.uk/property.php?id=4871942
Lot 20 Acuitus Auction 28th October 2020
https://www.acuitus.co.uk/property/3991/
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I am joined once again by the fantastic team at Bell Howley Perrotton, Simon Howley, Amanda Perrotton and Andrew Thornhill QC, to go through a warts and all case study involving the incorporation of an existing property business into a small group structure.
There are so many interesting points in this case study including;
Creating new titles in a development and when you may want to consider it.
What happens when you exchange on a purchase half way through incorporation.
Options in terms of financing.
Communicating with all the different professions involved.
As always Simon, Amanda and Andrew give some great insight on different options that were open to the client and the reasoning behind their decisions. A must listen for anyone growing a portfolio of properties.
If you would like any tax or legal advice please contact the team www.bhptax.law and don't forget to mention the Rodcast.
In this Episode I am joined by Retail Asset Manager and Founder of the Podcast "Retail is Dead", Leanne Catterall, to discuss what is the current state of play in the retail property sector.
Leanne is a qualified commercial surveyor and has worked with some of the biggest UK Landowners as an Asset Manager specialising in Retail and Leisure
We discuss;
The broad range of retail property.
How Brand and customers loyalty is more important than ever for retailers.
Some examples of retailers who have got it right... and also some that didn't.
How lease terms and structuring of rents is set to change in retail and what that can mean for the sector.
What some of the things that retail landlords should be looking for from their retailers dependant on the type of site and its location.
The importance of community engagement.
Recent announcements on potential changes to business rates
and lots more
You can subscribe and listen to Leanne's podcast, Retail is dead here https://podcasts.apple.com/gb/podcast/retail-is-dead/id1521918776
After developing £100 million of Central London real estate, Guy Harrington decided to start a new lending Business (Glenhawk) having been frustrated with many of the traditional bridging lenders.
In Just 2 years Glenhawk has managed to grow into a hugely successful company having secured funding lines from the likes of Shawbrook Bank and JP Morgan as well as getting registered with the FCA.
In this episode we discuss;
What made Guy pivot from Developing to starting Glenhawk.
What were some of the challenges in terms of raising finance from the big banks.
What other challenges there have been scaling Glenhawk.
What does a typical client/ deal look like for Glenhawk.
What parts of the business takes the most attention from Guy.
How Covid-19 has affected business.
Outlook on the property market.
And much more.
You can find out more about Glenhawk by visiting https://glenhawk.com
I am once again joined for our Tax series by Simon Howley and Andrew Thornhill QC as we discuss Tax issues for Property Investment and Trading.
As always the sheer volume of useful information that Simon and Andrew provide is sensational. Some of the discussion points we include in this episode are;
Traps for people setting up spvs and selling the spv.
Benefits and disadvantages of company ownership or personal ownership.
What happens if you have a trading company with property in as trading stock but then you have to hold the properties and rent them out and vice versa.
Different issues on different types of taxes in terms of investment and trading companies holding property.
When does selling property go from creating a capital gain to income for tax purposes.
Vat tax traps for developers who end up having to hold property.
Carrying losses forward or back being lost when having to hold property and turning trading activity into investment activity.
Tax benefits for investors investing into developments.
Structuring shares for JVs
Tax benefits of loaning to developers from an off shore trust if they are short term loans rather than longer term loans.
Benefits of charging interest on your directors loan.
And lots more
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There is always the danger that you can talk for hours to Manish Kataria as what he has to say is so interesting and this time was no different.
In this episode we look at what could be in store for UK House Prices and some of the reasons why.
Some of the things we discuss are;
Disposable incomes
Relationship between House Prices and the stock markets.
Metrics to measure the economy and what they looked like going into the Covid 19 crisis.
Is looking at the discounted future free cash flows still a good way to measure assets?
How this situation and the economic environment differs to 2008, the great depression and Japan in the 90's
How credit and /or asset bubbles are usually present prior to a recession but not this time.
Government, corporate and consumer debt and what they look like in the UK.
Banks and how healthy they are in the UK.
Inflation and its different types and why financial asset prices can inflate when CPI does not.
And a whole lot more.
You can find out more from Manish on his website www.investlikeapro.co.uk
There is also an article I wrote last month on Inflation which may be of use https://incomethroughproperty.co.uk/blog/f/covid-19-house-price-outlook
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I am joined again by the Tax specialists Simon Howley and Andrew Thornhill QC, this time to answer my many Questions on Trusts;
What are the most common forms of Trusts.
What are the tax implications to capital gains on the setting up of different types of Trusts?
How do different taxes such as CGT IHT and Income tax differ between different types of Trusts?
What are the ongoing costs of different types of Trusts?
How might the structure of ones property business affect which type of Trust one might use?
Utilising pensions within a Trust
Engineering the type of shares that go into different types of Trusts (in terms of voting rights, rights to income and rights to capital)
Putting assets into a Trust vs shares in a property business
It has been far too long since our last Auction Preview.
As always I am joined by Action specialists Piotr Rusinek & Jay Howard as well as the formidable Ranjan Bhattacharya
If this is your first time listening to our Auction Preview we each pick 2 lots from the upcoming Auctions and discuss the opportunities and risks associated with each one.
It is a bit of fun and we hope you get some insight into how we look at potential investments in the auctions.
Some of the lots we discuss include topics such as;
Permitted Development
Local Housing Allowance
Punts in a recession
Garage developments
Commercial leases
Funeral Homes
Grand designs
Lots are taken from;
Savills Auction on 12th May https://auctions.savills.co.uk/Auctions/LotList?aid=1127
Auction House London 6th May https://auctionhouselondon.co.uk/current-auction/
Allsops Commercial 19th May https://auctions.allsop.co.uk/commercial-auction-view
Best of luck if you are bidding.
I was fortunate enough to discuss Commercial Tenancy issues in light of the Coronavirus Act 2020 with not one, not two but three exceptional solicitors in this episode of the Rodcast.
Amanda Perretton, Sandra Rankine and Edward Jones have over 70 years combined experience in commercial property. Not only do they act for the Landlord but also for occupiers in all things related to the tenancy as well as litigation, so I knew it would be an invaluable opportunity to discuss, in a very frank and pragmatic way, what the Coronavirus Act 2020 means for Commercial Landlords and Tenants....
I was not disappointed
Some of the topics we discuss include;
What does the Coronavirus Act 2020 mean for Landlord’s with a portfolio of commercial properties?
What is the impact of the legislation changes to statutory demands and winding up orders?
Is the right to forfeit stayed until 30th June 2020 completely?
What does a Landlord have in their armoury if the Tenant is not entering into communication/ negotiations?
Is this a rent free period?
Can I lodge an application to repossess my premises/property?
Is this a good time to renegotiate my Commerical Lease?
I can’t afford my rent on my unit, how should I approach the Landlord?
Does my Lease protect me against the Landlord repossessing my premises?
Should you have any matters you would like to discuss with Amanda, Sandra and Edward then feel free to contact them here https://bellhowley.com/the-team/
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Paul Shamplina is the Founder of Landlord Action and Brand Ambassador for Hamilton Fraser
He has spent over 28 years in the legal field helping landlords with problem
tenants.
In 1999, he set up Landlord Action to put this expertise to good use, specialising in fixed-fee
property recovery and tenant eviction in England and Wales. He has acquired a reputation as
“The Landlord’s Friend” having co-written two books with fellow property expert, Kate Faulkner,
to help landlords manage their properties.
Paul travels the country speaking, giving advice and carrying out regular seminars to landlords
and letting agents. In November 2019, Paul won ‘Best Seminar Speaker 2019’ at The National
Landlord Investment Show Awards, after receiving nearly 40 percent of the overall votes.
Paul believes passionately in the rights of landlords and campaigns tirelessly to improve
standards throughout the private rented sector. Paul was invited to give evidence to a cross-
party Parliamentary Group on the private rented sector in relation to retaliation evictions as part
of The Deregulation Act 2015.
As part of the ‘Fair Possessions Coalition, he has also been an active participant in government
consultations on the topic of speeding up the eviction process, abolishing Section 21 evictions
and housing court reforms and is also on the advisory council for the Property Investors Bureau
to regulate the property education sector.
Paul regularly appears in the national press, radio and television. He has appeared in
numerous productions most recently featuring regularly in "Nightmare Tenant, Slum Landlord on Channel 5.
In this episode we hear about;
How Paul started Landlord Action from leaving school with no qualifications.
Why he felt there was a gap in the market for fixed fee evictions.
What he feels Landlords need to be aware of now more so than ever.
His thoughts on Universal Credit and why there may need to be more understanding from Landlords.
How he sees residential properties and Landlords being affected by the current environment.
Challenges he had in scaling the businesses he has been involved with.
How his passion still keeps him focused.
and some great resources such as
https://www.landlordzone.co.uk/
https://www.landlordaction.co.uk/
https://universalcreditadvice.com/
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Robert Godwin is the Managing Director of Lamington Group. A property investment and development business founded in the 1960s by his father, Lamington Group has expanded from smaller residential developments to owning and operating larger 70+ unit Aparthotels through their brand, Room 2.
After a masters in real estate Robert jumped into the family business and at the age of 31 he has done an incredible job over the last 7 years of tripling the size of the business. The business was awarded in the European awards for 1500 fastest growing businesses in 2016.
Today, Lamington group has a significant asset holding and continue to actively source schemes where value can be added through planning and development.
The group has a particular focus on expansion in the extended stay sector which is the fastest growing segment of the UK's hospitality industry, with a design and experienced led hometel brand, room2.
Some of the things we discuss are;
The dynamics of working in a family business.
Risk profile and what he felt was the right level of debt for parts of the business and why.
Adapting a development business into residential lettings and then into Serviced Apartments, Homelets and Apart Hotels.
What metrics he likes to monitor to check the performance of the business.
How the Hotels side of his business has adapted in the face of Covid-19.
Some of the different things to concentrate on whether owning the hotel building or taking it on on a 25 year lease. (Something their company does both of)
And lots more
You can find more info on Robert and his fantastic business here https://www.lamingtongroup.com
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Inheritance Tax Planning can be complex and I certainly did not have a clue about many of the aspects as are clear from the early questions Simon asks me in this episode but Simon and Andrew have a knack of making complex subjects simple to understand and this is no different.
As part of our tax series we give an overview of Inheritance Tax Planning which includes;
Transfers of Value
Main exemptions
Lifetime transfers
Gifts with reservation of benefit
Lifetime exemptions
Business property
Planning tips
and lots more.
Simon also mentions an article he wrote which can be found here https://www.linkedin.com/pulse/can-i-save-inheritance-tax-giving-shares-my-company-ata-afa-mipa/?trackingId=j%2BC9HUCpTR%2BR1puNUUaKzA%3D%3D
If you haven't already listened to the episode on Section 24 mitigation and estate planning then its definitely worth giving that a listen on episode 22.
For more info on anything tax related you can contact Simon and Andrew by emailing itp@bellhowley.com
Adam, Rupesh and Kwasi kindly allowed me to record our call where we discuss some topics on the subject of the economic outlook.
We flipped things round so Adam hosted the discussion and did a tremendous job too.
As a reminder;
Kwasi Affum was on episode 11 and is a banker at Barclays, specialising in Risk Management and also invests in property.
Adam Lawrence was on episode 14 and previously worked in wealth management and is a portfolio holder of residential properties and bolt on businesses.
Rupesh Tailor makes his first appearance on The Rodcast. Rupesh has been and analyst and investor in the high yield market since 2001. He is the CEO & founder of Everest Research, a research company that specialises in distressed debt and the whole capital structure of businesses and provides truly exceptional reports to Hedge Funds and institutional investors on a range of investment options. You can find out more about them here https://www.everestresearch.co.uk
Some of the questions we discuss are;
What do you see happening to people's Disposable incomes?
Do you see any costs of living increasing over the next 12 months?
How do you think oil will impact the economy over the next 2 years and how have this week's events influenced thoughts on deflationary risk versus inflationary/hyper/stagflation?
How do you think the £ will fare against the euro and dollar
At what point do you think inflation will start (if at all) and will it just be on the costs of goods and services and when do you think economic growth will pick up.
Local Housing Allowance (LHA) rates have gone up meaning yields for investment properties have increased at the lower end of residential property, possibly providing a floor.
Over 50% of residential properties are owned outright and help to buy has been extended. What do you think will happen to house prices in general and do you think the above points provide a floor to any price drops.
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This was one of those episodes that has so much fantastic information that each time I listen to it I pick up something else.
Section 24 and Estate Planning are incredibly high up on probably every property portfolio holders thoughts and who better to speak to about them than a top Tax QC Andrew Thornhill and the Managing Partner and tax specialist of Bell Howley, Simon Howley.
If you have ever considered that section 24 may affect you or even you have put things in place already but you are not sure how they may affect your estate planning then this episode should provide some brilliant insight for you.
You will want a note pad for this one. Some of the topics we touch on are;
What is Section 24
The difference between a partnership and a Limited Liability Partnership (LLP)
Incorporation
Different types of exits
SDLT relief on incorporation
Capital Gains issues
Distributing capital and income
Growth and Income shares for inheritance purposes
Business Property Relief
Incorporation Relief
Mortgage companies
Beneficial Ownership
Corporate Partners
Trusts
Holding companies
Trading companies and the balance of capital between them and investment companies.
School fees when incorporating.
And a great deal more.
For more information or to book a call with Simon and Andrew please email showley@bellhowley.com and let them know you heard them here
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This episode was recorded on 10th April as part of our Covid 19 crisis series.
Siam Kidd has been a successful trader for many years. Specialising in currency as well as owning several businesses he gives some strong reasoned views on what he feels is coming in terms of the economic environment and what types of assets and investments will be at risk and where opportunities may lie.
Some of the topics we discuss;
Wealth Creation.
The speed of movement in a bear market vs a bull run and why traders can benefit from them.
Learning from previous crashes and how they follow a certain order.
The types of businesses that stand a good chance of doing well.
How he would like to see governments deal with the crisis.
The future of banks.
The future of currencies.
How demographics play a big part in how we invest...
an a whole lot more.
Please remember that any opinions in this episode are just that and in no way should this be seen as investment advice.
In this episode Simon Howley, specialist Tax Planner from Bell Howley discusses all things Stamp Duty.
We discuss;
SDLT on shares
The difference between residential SDLT and non residential SDLT.
Different types of reliefs such as Multiple Dwellings Relief (MDR), Probate purchases, First time buyers, transfers between linked companies, mobile homes, charities and a few others and what you need to do to claim them.
We talk about how to determine if something is uninhabitable and what SDLT that property would incur.
Why trying to claim MDR on HMOs retrospectively after they have been banded individually for council tax can fall foul.
Companies purchasing shares outside of the UK and SDLT on shares of SPVs.
Foreign Buyers...
and lots more
If you want to get in contact with Bell Howley regarding Stamp Duty Land Tax please email itp@bellhowley.com
Gavin has a fascinating Business and the story behind East Point, his business park in Dublin is truly brilliant.
East Point is home to a vibrant mix of indigenous Irish, multinational and Fortune 500 companies. Set in 40 acres of beautifully landscaped gardens with waterfront walks, café’s, crèche, outdoor gourmet food market, sports facilities and over 50 office blocks.
To create this site is a fantastic achievement but to do this on a site that, when they purchased, was being used as landfill is amazing!
In this episode recorded on 7th March 2020 we discuss;
How he was thrown into the family business.
Turning a parcel of land used as a dump into a huge business park that has almost 10,000 visitors per day and some of the challenges they had to overcome.
Attracting and keeping Today's Blue Chip tech businesses as tenants.
How Environmental, Social and Green policies have shaped his tenants needs and also his business model.
The struggles in developing a site that runs as its own Eco system.
Challenges in managing business park of this size
and a whole lot more
In the 2nd episode recorded on 27th March 2020 geared toward how Property Businesses can steer themselves through the Corona Virus Crisis that is on our hands, I spoke to John Paul.
JP is a no nonsense extremely pragmatic Landlord based in the North East who has built an empire of Lettings Agencies through acquisitions. He is a specialist in systems and efficiencies and has 2 books on systems for businesses which are fantastic.
In the episode we discuss what he has been doing over the last 2 weeks in order to adapt. The differences between fire fighting problems and being prepared.
How certain systems and metrics have allowed him to adapt to make sure his agencies are still profitable.
How his KPIs have changed in the last couple of weeks and how he is monitoring performance.
What he is doing differently.
Dealing with stressful situations in business.
Issues with staff
And loads more
Similar to the last episode, please excuse any um's and ah's as we didnt edit as we wanted to get this live asap due to the situation changing so quickly.
Please find the link to his great book from Stress to Success https://www.amazon.co.uk/Stress-Success-successful-business-operates/dp/1781332479
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This was recorded on the evening of 20th March 2020 a couple of hours after the government announced that all Pubs, restaurants, gyms, cinemas etc will be closing and a huge stimulus package also announced to keep people in their jobs.
This was the first of what I imagine will be many virtual discussions so I hope the audio is ok.
I was joined by Adam Lawrence who listeners may remember for episode 14. Adam is a residential landlord and business owner with a previous career in Wealth Management.
And also Daryl Norkett one of the Directors of Lendwell. Daryl has a long career in Banking previously working at Barclays and Shawbrook and was able to give some great insight from the Banks and lenders perspective.
In this episode we discuss;
How the Coronavirus Pandemic has and can affect Property Businesses.
What some of the things Business Owners can do to protect themselves and stakeholders.
What the governments response has been and how that affects Business owners, Landlords, Developers etc.
The possible short and Long Term implications on the UK Property Market and wider economy.
We have tried to get this out to our audience as quickly as possible as the speed at which things are changing is incredibly quick due to the speed at which this virus seems to be growing. Please remember the date it was recorded and understand that depending on when you listen it may be out of date.
Info for Businesses can be found here
https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses
Info for Employees and self employed can be found here.
https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-guidance-for-employees
See acast.com/privacy for privacy and opt-out information.
Jane Deeks is the VAT specialist at Bell Howley. If you think VAT is complex... well you are right it is.
However as a Property investor or developer VAT reliefs and exemptions can save or cost you huge sums of money so this episode is incredibly valuable.
I was blown away by how much I did not know and Jane's knowledge is incredible.
In the episode we discuss the difference between something being VAT exempt and 0 rated.
The 5% and 0% VAT reliefs on build works and some examples.
Structures of SPVs and partnerships and some scenarios where VAT can be affected.
How long you have to claim overpayments of VAT
VAT on commercial properties and when and how one might de register them for VAT and some pitfalls.
How the capital goods scheme can affect sellers of properties elected for VAT
and a whole lot more.
Personally I will discuss with Jane any new purchase of a site prior to doing the deal to make sure it is structured in the most efficient way. Huge amounts of savings to be had.
You can contact Jane by email on jdeeks@bellhowley.com
If you haven't heard of Paul Higgs MRICS before then where have you been...
I struggle to think of anyone with the vast level of development experience that comes close to Higgsy's.
From small scale developments to £100 million land deals for PLCs there really is not much he hasn't done in his almost 40 years of being in development.
In this episode we discuss how Paul worked his way up from no qualifications to become the Head of Land for the UKs biggest housebuilder.
He describes how he won 80% of land deals and has 100% record in achieving planning by being incredibly detailed and driven. (which is no mean feat when you have created over 6500 residential units and 2.5 million square feet of commercial space)
His story is incredibly inspiring for anyone wanting to get into development but also for those of us already involved.
Not only does he still have an award winning private development company with several projects on the go but he also finds time to be a guest lecturer on Southbank University's Property Development Masters course
Other points we discuss include;
The greenbelt.
Why he doesn't think Permitted development is the answer to the housing crisis.
The planning process.
How focus and drive helped him get onto Land economics degree course when he had dropped out of school.
What risks are for Developers.
When he thinks its ok to take on the build risk.
What floats his boat now in terms of what he wants to build out.
How 2008 Great Financial Crash affected him and why he will not bank with RBS.
and a whole lot more.
For more info on Paul and his academy you can visit
https://www.millbanklandacademy.co.uk/
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Adam Lawrence is genuinely one of my favourite people to talk shop with. He has a brilliant brain and has a fantastic balance of theory and how that theory behaves in reality from a holistic and granular level.
He has a background in wealth management and sports betting businesses as well as a MBNA in Business.
He has built up a residential portfolio from scratch which now has over 200 properties and despite being based in Birmingham his portfolio spans through Scotland, Wales and England.
He has added an asset management arm to his business and is continuing to grow this side of his business through acquiring more lettings agents and he still made time to found a daytime property networking event that holds monthly events in Southampton, London, Bristol, Birmingham and Manchester.
We discussed all the above in detail with an emphasis on;
Managing risk,
Managing business relationships,
Understanding Reality vs what was expected,
Scaling the business...
And lots more.
Ross Harper is always a joy to talk to.
An absolute inspiration and property business machine, Ross discusses various different businesses that he has started, scaled (and in some instances exited) in the property industry.
We talked about;
Trading properties and how he utilises auctions for exits.
Why his focus has changed recently from one direction to another within property.
How the Great Financial Crisis was a huge lesson for him.
How he has de risked his organisation.
How he manages to scale several successful businesses.
How the New Zealand rugby team inspired him.
How he utilises talented people.
The sound quality for this meeting wasn't great at the start due to a bit of back ground noise but hang in there as it gets better.
Ayesha comes from a successful career in investment banking at Morgan Stanley and Goldman Sachs.
Having worked her way up to Executive Director and becoming one of the most senior black women in a client-facing role at the bank’s European hub she then went on to start various property related businesses as well as projects looking to empower groups that have historically been under represented in the property and investment industries.
These include https://propellenetwork.com/ and https://blackpropertynetwork.com/
Some of the points we discussed were;
The positives and negatives in coming from a corporate background when starting a business.
Tips on Raising Capital and what the High Net Worths want.
Areas of the UK that her business is targeting and why.
Difficulties in finding great staff.
And lots more.
Kwasi is a very smart cookie and I always love our discussions. His role at Barclays is fascinating and in this episode we sit down at his office on the 30th floor of the Barclays building for a general chat about investment.
We discuss differences between direct and indirect property investments.
Institutional investments.
Large Companies in the news such as We work, Regus (IWC) and Intu and what has gone wrong or right in their businesses.
What kind of investment is coming into the UK currently.
The importance of Environmental and sustainability in business
and lots more.
See acast.com/privacy for privacy and opt-out information.
It is so important to understand what investors look for in a person and property deal when trying to raise funds for your property developments.
In this episode Helen Chorley does exactly that.
She discusses how she went from working on the trading floor of JP Morgan to investing in other peoples property deals.
We discussed what qualities she wants to see in terms of;
-
The people involved in the deal.
-
The structure of the deal.
-
The type of project.
What she does on the deal once the funds have been transferred to the project and it is underway.
What she does to diversify when investing in other people's developments.
What positive and negative thoughts she has on the future of her investing in UK property.
Hope you enjoy.
If you want to attend the event on 9th January you can book tickets here
https://www.eventbrite.com/e/charity-property-business-workshop-tickets-80349239739
WOW if you buy or are looking to buy at auction then this is going to tick your boxes. We discuss 8 lots coming up for auction on 11 December 2019 and some associated risks and opportunities with each lot.
Some of the things discussed are;
Enforcement notices
Permitted Development
Strengthening a commercial covenanant
Adding Value to an asset
HMOs and supply and stress
and lots more
There is some brilliant insight into what the pros look at when sizing up whether to buy these lots so get your pen and paper ready.
As always Piotr Rusinek, Jay Howard and Ranjan Bhattacharya add way more value than I do on these.
Link for the catalogue is https://auctionhouselondon.co.uk/current-auction/
Dont forget our charity workshop on the 9th January. If you are looking to scale your property business then this is a must
https://www.eventbrite.com/e/charity-property-business-workshop-tickets-80349239739
If you are interested there is a great workshop on 7th December which goes into more details about permitted development that we discuss
- PD Workshop with Colin Smith*
http://bit.ly/pdworkshop712
£450+VAT per person
There is also a specific Auction workshop run by Piotr and Jay on 8th December - Property Auction Workshop*
http://bit.ly/auctionworkshop
£497+VAT per person
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John Howard has been in the property business for 40 years.
He has bought and sold over 3500 properties, been a director of Cambridge United FC, been an owner of Auction House UK, several estate agencies and has a passion for training and breeding racehorces.
In this episode we discuss how John got into the property business at a young age. Why he liked to trade properties often over developing them out. What he feels are risks to his business and much more.
You can find out more about John on his website https://johnhowardpropertyexpert.co.uk/
The link for tickets and information regarding the Charity workshop for property businesses on 9th January 2020 is https://www.eventbrite.com/e/charity-property-business-workshop-tickets-80349239739?fbclid=IwAR3W1weWLemAWwnBFuMI3WccUqCA5qAmLJLPctwGN84ZXEnRMJHfH9ACp70
In the first of our Tax mini series we explore Capital Allowances.
Simon Howley of www.bellhowley.com gives us an explanation of what Capital Allowances are, how they are used and some examples of what can be utilised on developments in terms of Capital Allowances
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Chris is a chartered surveyor who acts for both developers and contractors on all types of builds ranging from £5mil to £40 mil. But its the principles we discuss that can be taken into any size build.
We discuss everything from procurement types and tendering including what to provide your potential contractors with,
Different types of contracts and their benefits,
What to look for in a contractor,
Reducing pre construction phase and the benefits and negatives,
How to stay on top of the build costs,
How to maintain the programme and efficiency,
Disputes and how to protect yourself if or when they arise,
The truth about low "declared margins"
and lots more
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In this episode we hear Paul's story of how he started what would become the the biggest development company in central Europe with 33 offices in 5 countries.
We talk about how started in property, the move from residential to building major retail parks, how leverage worked for him and how close he came to losing it all!
We then go onto discuss his new business venture https://www.hilltopcreditpartners.com/ which funds SME developers in the UK and why the man who sold everything a few weeks before the great financial crisis thinks its a good time to buy.
One of the things Paul touches on in this episode is Yield compression.
If you don't understand yield compression here is an example.
Some funds/investors buy for income purposes and they want to make sure their income is safe for the future. The safer that income the lower the yield they will be prepared to take. Safe or low risk will depend on how likely it is that the income is going to keep coming in for the foreseeable future. That depends on many factors such as location, use class, the ability of the tenant not to go bust, the length of the term etc...
So leasing a building to a newly formed company with no balance sheet whose directors have no assets to guarentee or underwrite the lease with and who want to rent out VHS videos to the public will not be seen as low risk and would get a higher yield than renting a building to the UK government (who has never defaulted on a loan) for the purpose of housing inmates for the next 30 years, which would be seen as low risk and would be valued with a lower risk.
The VHS shop could be a 14% yield
And the prison a 3% yield.
So that means if the rent for each was £100k per year;
The VHS would be valued at £714k
The prison at £3.333 million
The formula is to take rent 100k and divide by 0.14 (for the VHS) or 0.03 (for the prison)
So when my guest says they built something to a 17% yield that means it cost them
£588k to get 100k of income
And they sold for a 5% yield it means the buyer valued that 100k income at £2 million which is a margin of around 250% profit on cost before taking leverage into account.
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Simon (Tax Planner) and Amanda (solicitor) from https://bellhowley.com/ join me to discuss the benefits of a group structure in terms of property investment and development businesses such as;
Tax efficiency, Group Vat, ring fencing assets and legacy... as well as issues such as lending.
We talk about and how creating a trust can be an optimal way of leaving a legacy.
Be sure to listen to the end where I go into detail regarding personal issues I have had in my business and what needs to be done to safeguard against potential problems.
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There are not many people who can say they have bought a property every year for the last 30 years, have weathered and flourished through 3 recessions have amassed a diversified personal property portfolio in excess of £50 million but that is exactly what my guest has done.
Ranjan really is a class act. In this discussion he tells us how he got into property,
Some of the reasons outside his control in the market which meant he had to adapt,
How what he thought were disasters for his business quickly turned into fantastic opportunities... and much more.
We recorded and filmed this at his serviced office block in st Albans which is one of his latest developments.
He has created a brand in Fab lets and also is a big personality around London hosting the Baker street property meet and also hosting a youtube channel.
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With help from Jay and Piot we discuss some of the upcoming lots at the Auction House London auction on 17/09/19 and what some of the opportunities may be with them as well as some things to watch out for.
We discuss lease extensions and enfranchisement, commercial yields and risks with certain covenants, development opportunities and some of the regional opportunities as well as who may be the perfect buyers.
Although the lots are for a specific auction the strategies and tactics discussed may be utilised for similar sites.
you can see the lots here
https://auctionhouselondon.co.uk/pdfs/catalogue.pdf
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In this episode Jason tells us how his company, Bmor http://www.bmor.co.uk/ has been able to grow into a fantastic company that has a turnover £600 million to date. We talk about how he got into property, bulk trading high volumes of units and how the financial crisis came at a time where he had exchanged on 2000 units and the lending got pulled overnight meaning he couldn't complete on a single one losing the business millions.
We discuss his learning from this time including structuring companies and insurance and warranties and how their insight allowed them to have an edge in property including; getting overseas investment, starting transparent funds, understanding the time to look at counter cyclical income plays, the world of private equity and much more.
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