Property Magic Podcast

• Replace Your Income with One HMO

  Simon delves into two lucrative property investment strategies: Houses of Multiple Occupation (HMOs) and serviced accommodation, comparing the benefits and challenges of each approach, highlighting the importance of quality in HMOs to attract better tenants and ensure consistent income. He discusses the need for effective management and the potential for repeat customers in the Airbnb market, while also discussing the impact of upcoming regulations on short-term rentals. KEY TAKEAWAYS HMOs provide consistent income through long-term contracts (typically 6-12 months) and can yield a profit of at least £1,000 per property when managed correctly. High-end co-living HMOs are recommended to attract better tenants and avoid competing solely on price. Airbnb properties can generate significant income, but the occupancy rates can fluctuate, averaging around 70%. Dynamic pricing is essential to maximise profits based on demand, and maintaining good reviews is crucial for attracting repeat customers. Recent regulations in Scotland and Wales, with potential upcoming regulations in England, may impact the Airbnb market by requiring safety standards and registration. This could reduce supply and benefit those who remain in the market. Successful property investing involves not doing all the work personally. Utilising managing agents for HMOs and virtual assistants for Airbnb can help streamline operations, allowing investors to focus on growing their portfolio while maintaining a work-life balance. BEST MOMENTS "If you have a vanilla boring HMO, you're going to compete on price, which is not a good thing." "The key to making lots of money in SA, Airbnb, is to get repeat customers. It's very important to get really good reviews." "When regulation comes in, there'll be a fall in supply of Airbnb and service accommodation units available to rent." "If you look after your tenants in an HMO, I've got tenants who've stayed for years and years and years." "Please treat your property investing like a business, systemise it and get great people in to help you run that business." VALUABLE RESOURCES To learn more about how you can add profitable HMOs to your portfolio, register here to join online training with Simonhttps://property.isrefer.com/go/3-5PF/Podcast/ To find your local pin meeting visit: www.PinMeeting.co.uk and use voucher code PODCAST to attend you first meeting as Simon's guest (instead of paying the normal £20). Contact and follow Simon here: Facebook: http://www.facebook.com/OfficialSimonZutshi LinkedIn: https://www.linkedin.com/in/simonzutshi/ YouTube: https://www.youtube.com/SimonZutshiOfficial Twitter: https://twitter.com/simonzutshi Instagram: https://www.instagram.com/simonzutshi/ Simon Zutshi, experienced investor, successful entrepreneur and best-selling author, is widely recognised as one of the top wealth creation strategists in the UK. Having started to invest in property in 1995 and went on to become financially independent by the age of 32. Passionate about sharing his experience, Simon founded the property investor’s network (pin) in 2003 www.pinmeeting.co.uk pin has since grown to become the largest property networking organisation in the UK, with monthly meetings in 50 cities, designed specifically to provide a supportive, educational and inspirational environment for people like you to network with and learn from other successful investors. Since 2003, Simon has taught thousands of entrepreneurs and business owners how to successfully invest in a tax-efficient way. How to create additional streams of income, give them more time to do the things they want to do and build their long-term wealth. Simon’s book “Property Magic” which is now in its sixth edition, became an instant hit when first released in 2008 and remains an Amazon No 1 best-selling property book. Simon launched his latest business, www.CrowdProperty.com, in 2014, which is an FCA Regulated peer to peer lending platform to facilitate loans between private individuals and property professionals.

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  11:00
• Replace Your Income With One HMO

  Simon welcomes Richard Miller, a former army officer turned successful property investor, who shares his incredible journey into the world of real estate. Richard discusses a life-changing mega deal that generated over £100,000 in profit from a single investment, highlighting the importance of education and networking in property investing. He also recounts his initial foray into property after being inspired by his father's advice, leading to a series of successful investments, including a remarkable 48-bed HMO in Sheffield. KEY TAKEAWAYS Gaining knowledge about property investment is crucial. Understanding the risks and having a solid support network transforms a gamble into a calculated risk. Simply acquiring knowledge is not enough; taking decisive action is essential for changing one's life and achieving financial goals. Focusing on larger property deals can lead to greater profits with less competition. By moving away from smaller, saturated markets, investors can find more lucrative opportunities. Building a strong network of investors and partners can provide the necessary funding and experience to tackle larger projects that may initially seem out of reach. BEST MOMENTS "I thought I could earn more than that, hopefully with less work and be my own boss through property investing." "I found a six bed student HMO in Sheffield, off market, bricks and mortar value 345, agreed to buy it for 325." "I had no money again and had to, right, do I phone up John... or do I try and do this and try and make it work?" "If you want something different for your life, you've got to do something different." VALUABLE RESOURCES To learn more about how you can add profitable HMOs to your portfolio, register here to join online training with Simon https://property.isrefer.com/go/3-5PF/Podcast/ To find your local pin meeting visit: www.PinMeeting.co.uk and use voucher code PODCAST to attend you first meeting as Simon's guest (instead of paying the normal £20). Contact and follow Simon here: Facebook: http://www.facebook.com/OfficialSimonZutshi LinkedIn: https://www.linkedin.com/in/simonzutshi/ YouTube: https://www.youtube.com/SimonZutshiOfficial Twitter: https://twitter.com/simonzutshi Instagram: https://www.instagram.com/simonzutshi/ Simon Zutshi, experienced investor, successful entrepreneur and best-selling author, is widely recognised as one of the top wealth creation strategists in the UK. Having started to invest in property in 1995 and went on to become financially independent by the age of 32. Passionate about sharing his experience, Simon founded the property investor’s network (pin) in 2003 www.pinmeeting.co.uk pin has since grown to become the largest property networking organisation in the UK, with monthly meetings in 50 cities, designed specifically to provide a supportive, educational and inspirational environment for people like you to network with and learn from other successful investors. Since 2003, Simon has taught thousands of entrepreneurs and business owners how to successfully invest in a tax-efficient way. How to create additional streams of income, give them more time to do the things they want to do and build their long-term wealth. Simon’s book “Property Magic” which is now in its sixth edition, became an instant hit when first released in 2008 and remains an Amazon No 1 best-selling property book. Simon launched his latest business, www.CrowdProperty.com, in 2014, which is an FCA Regulated peer to peer lending platform to facilitate loans between private individuals and property professionals.

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  17:50
• Understanding HMO Licensing and HMO Planning Requirements

  Simon delves into the crucial distinctions between HMO (House in Multiple Occupation) licensing and planning conditions, emphasising their separate roles in property investment. Simon highlights the importance of creating high-end co-living spaces to attract better tenants and maximise income. He explains the licensing requirements for HMOs, including the number of unrelated occupants and room size regulations, while also addressing safety standards that must be met. Additionally, Simon discusses the complexities of planning permissions, particularly in areas with Article 4 directions, and offers insights on how to navigate these challenges effectively. KEY TAKEAWAYS It's crucial to differentiate between HMO licensing and planning conditions, as they are separate aspects of managing HMO properties. Licensing pertains to the number of unrelated tenants, while planning relates to the classification of the property. Generally, a property needs a license if it houses five or more unrelated individuals, but some councils may require a license for three or more. Always check local council regulations for specific requirements. Minimum room sizes for licensed HMOs vary by council. The national guideline for single rooms is 6.51 square meters, but some councils may require larger sizes. It's essential to verify these requirements to avoid issues when applying for a license. In areas with an Article 4 direction, converting a C3 residential property to a C4 HMO requires planning permission. However, if the concentration of HMOs is below a certain threshold (e.g., 20%), it may still be possible to obtain permission. BEST MOMENTS "If you're going to do HMOs, it's very important to make sure you do high-level, co-living HMOs." "A lot of councils interpret the HMO licensing rules in their own way... some councils take the strict definition of an HMO." "If you have an en suite where the room has its own private shower, toilet and hand basin, the space for the en suite does not count towards the floor space of the room." "In many areas, there is an oversupply of the very average HMOs I talked about earlier on." VALUABLE RESOURCES To learn more about how you can add profitable HMOs to your portfolio, register here to join online training with Simon https://property.isrefer.com/go/3-5PF/Podcast/ To find your local pin meeting visit: www.PinMeeting.co.uk and use voucher code PODCAST to attend you first meeting as Simon's guest (instead of paying the normal £20). Contact and follow Simon here: Facebook: http://www.facebook.com/OfficialSimonZutshi LinkedIn: https://www.linkedin.com/in/simonzutshi/ YouTube: https://www.youtube.com/SimonZutshiOfficial Twitter: https://twitter.com/simonzutshi Instagram: https://www.instagram.com/simonzutshi/ Simon Zutshi, experienced investor, successful entrepreneur and best-selling author, is widely recognised as one of the top wealth creation strategists in the UK. Having started to invest in property in 1995 and went on to become financially independent by the age of 32. Passionate about sharing his experience, Simon founded the property investor’s network (pin) in 2003 www.pinmeeting.co.uk pin has since grown to become the largest property networking organisation in the UK, with monthly meetings in 50 cities, designed specifically to provide a supportive, educational and inspirational environment for people like you to network with and learn from other successful investors. Since 2003, Simon has taught thousands of entrepreneurs and business owners how to successfully invest in a tax-efficient way. How to create additional streams of income, give them more time to do the things they want to do and build their long-term wealth. Simon’s book “Property Magic” which is now in its sixth edition, became an instant hit when first released in 2008 and remains an Amazon No 1 best-selling property book. Simon launched his latest business, www.CrowdProperty.com, in 2014, which is an FCA Regulated peer to peer lending platform to facilitate loans between private individuals and property professionals.

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  14:52
• Busting The Myths About HMOs

  Simon tackles six common myths surrounding Houses of Multiple Occupation (HMOs), a highly profitable property investment strategy, beginning by debunking the misconception that everyone is investing in HMOs, revealing that 82% of rental properties in the UK are single lets. Simon stresses the importance of creating high-end co-living spaces rather than average HMOs to attract discerning tenants and reduce void periods. Other myths addressed include the perceived high workload of managing HMOs, the financial barriers to entry, and the challenges posed by Article 4 planning restrictions. KEY TAKEAWAYS While many believe that everyone is doing HMOs, 82% of rental properties in the UK are single lets. The perception of oversupply often comes from networking environments where HMOs are more commonly discussed. The focus should be on creating high-end co-living HMOs rather than average ones. These properties foster a community atmosphere, leading to lower void periods and the ability to charge higher rents. Although managing an HMO with multiple tenants may seem more work than a single let, the potential profit from an HMO can justify the effort. One HMO can be less time-consuming than managing multiple single lets, especially when considering the option to hire management. There are various strategies to enter the HMO market without needing significant upfront capital. Options include rent-to-rent agreements, purchase lease options, and vendor financing, which can allow investors to leverage other people's money. Concerns about obtaining licenses for HMOs can be alleviated by understanding the requirements. As long as the landlord is deemed fit and proper and the property meets safety standards, obtaining a license is generally straightforward. Additionally, properties in Article 4 areas can still be converted to HMOs with the right planning permissions. BEST MOMENTS "82% of rental properties in the UK are single let properties... I promise you that is definitely not the case." "When you have a high-end co-living HMO, people are really coming into a community... they want to be in this community." "If you compared maybe five single let properties... I would suggest the one HMO actually is a less time input." "You can absolutely pick up properties in an Article 4 area and still use HMOs as long as you follow the rules." "As long as you follow those guidelines... you should be able to get your HMO license, which typically lasts five years." VALUABLE RESOURCES To learn more about how you can add profitable HMOs to your portfolio, register here to join online training with Simon https://property.isrefer.com/go/3-5PF/Podcast/ To find your local pin meeting visit: www.PinMeeting.co.uk and use voucher code PODCAST to attend you first meeting as Simon's guest (instead of paying the normal £20). Contact and follow Simon here: Facebook: http://www.facebook.com/OfficialSimonZutshi LinkedIn: https://www.linkedin.com/in/simonzutshi/ YouTube: https://www.youtube.com/SimonZutshiOfficial Twitter: https://twitter.com/simonzutshi Instagram: https://www.instagram.com/simonzutshi/ Simon Zutshi, experienced investor, successful entrepreneur and best-selling author, is widely recognised as one of the top wealth creation strategists in the UK. Having started to invest in property in 1995 and went on to become financially independent by the age of 32. Passionate about sharing his experience, Simon founded the property investor’s network (pin) in 2003 www.pinmeeting.co.uk pin has since grown to become the largest property networking organisation in the UK, with monthly meetings in 50 cities, designed specifically to provide a supportive, educational and inspirational environment for people like you to network with and learn from other successful investors. Since 2003, Simon has taught thousands of entrepreneurs and business owners how to successfully invest in a tax-efficient way. How to create additional streams of income, give them more time to do the things they want to do and build their long-term wealth. Simon’s book “Property Magic” which is now in its sixth edition, became an instant hit when first released in 2008 and remains an Amazon No 1 best-selling property book. Simon launched his latest business, www.CrowdProperty.com, in 2014, which is an FCA Regulated peer to peer lending platform to facilitate loans between private individuals and property professionals.

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  13:11
• Using Other People's Money For Bigger Deals

  Simon discusses the concept of using other people's money in property investment with successful mastermind graduate Andy Tattersfield. Andy shares his journey from the motor trade to becoming a full-time joiner and eventually venturing into property investment. He recounts how he overcame his initial doubts about attracting investors and successfully completed several deals without using his own funds. The conversation highlights the importance of networking, social media, and building trust with joint venture partners. KEY TAKEAWAYS Learning to leverage other people's money is crucial for property investment, especially when personal funds are limited. Many successful investors have built their portfolios by collaborating with investors who provide the necessary capital. Building a strong network is vital in the property business. Engaging with others in the industry can lead to valuable partnerships and opportunities. Attending property networking events, such as PIN meetings, can help establish these connections. Utilising social media to share progress and projects can attract potential investors. By showcasing what you are doing, you can engage with individuals who may be interested in investing in your ventures. Investing in education, such as attending courses and workshops, can significantly enhance your knowledge and confidence in property investment. Understanding concepts like capital allowances can provide additional financial benefits. BEST MOMENTS "I think it's something that you've said right from the very beginning, you don't know what you don't know. Absolutely. Because now I know more." "I was told or advised to get on social media and tell the people what you're doing, which is what I did." "When people say your network is your net worth, you know, so true." "It's a false economy. And, of course, I listened to everything you said and completely ignored it." VALUABLE RESOURCES To find your local pin meeting visit: www.PinMeeting.co.uk and use voucher code PODCAST to attend you first meeting as Simon's guest (instead of paying the normal £20). Contact and follow Simon here: Facebook: http://www.facebook.com/OfficialSimonZutshi LinkedIn: https://www.linkedin.com/in/simonzutshi/ YouTube: https://www.youtube.com/SimonZutshiOfficial Twitter: https://twitter.com/simonzutshi Instagram: https://www.instagram.com/simonzutshi/ Simon Zutshi, experienced investor, successful entrepreneur and best-selling author, is widely recognised as one of the top wealth creation strategists in the UK. Having started to invest in property in 1995 and went on to become financially independent by the age of 32. Passionate about sharing his experience, Simon founded the property investor’s network (pin) in 2003 www.pinmeeting.co.uk pin has since grown to become the largest property networking organisation in the UK, with monthly meetings in 50 cities, designed specifically to provide a supportive, educational and inspirational environment for people like you to network with and learn from other successful investors. Since 2003, Simon has taught thousands of entrepreneurs and business owners how to successfully invest in a tax-efficient way. How to create additional streams of income, give them more time to do the things they want to do and build their long-term wealth. Simon’s book “Property Magic” which is now in its sixth edition, became an instant hit when first released in 2008 and remains an Amazon No 1 best-selling property book. Simon launched his latest business, www.CrowdProperty.com, in 2014, which is an FCA Regulated peer to peer lending platform to facilitate loans between private individuals and property professionals.

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  23:01

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