Property Magic Podcast

• Understanding the Repossession Process

  Simon delves into the repossession process in the UK, highlighting the challenges faced by property owners who fall behind on their mortgage payments. He discusses the ethical implications of purchasing repossessed properties and suggests a more compassionate approach: buying properties before they are repossessed. By doing so, investors can help homeowners avoid the negative consequences of repossession while still acquiring properties at a fair price. KEY TAKEAWAYS In the UK, around 40,000 homes are repossessed each year, often due to homeowners failing to keep up with mortgage payments. The process involves multiple steps, including court hearings and potential eviction by bailiffs. Instead of purchasing properties after they have been repossessed, investors are encouraged to seek out homeowners in financial difficulty before the repossession occurs. This approach can provide a more ethical solution that benefits both the investor and the homeowner. When a property is repossessed, the homeowner may face additional costs that increase their debt, such as legal fees and court costs. By negotiating a sale before repossession, homeowners can potentially receive money from the sale, helping them avoid long-term financial repercussions. Investors should look for signs of motivated sellers, such as properties with decreasing prices or descriptions indicating urgency to sell. These clues can help identify homeowners who may be facing financial difficulties. BEST MOMENTS "Many property investors look for repossessed properties... but there are two problems with doing that." "I would actually like to suggest that a better way to buy repossessed properties... would be actually buying them before they are repossessed." "Most sellers, most motivated sellers... bury their head in the sand and sometimes leave it too late." "If you can pay off the mortgage in full, they can actually get that property back." 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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  10:21
• Ethical Investing

  Simon discusses the concept of ethical property investing, emphasising the importance of creating a win-win situation for both investors and motivated sellers. He highlights the various reasons why individuals may need to sell their properties at a discount, such as financial difficulties, medical issues, or personal circumstances. Through real-life examples, Simon illustrates how understanding the seller's needs and providing genuine solutions can lead to mutually beneficial outcomes. KEY TAKEAWAYS It's crucial to recognise that motivated sellers often view their property as a burden rather than an asset. They may be facing financial difficulties, personal issues, or deadlines that make selling their property a priority. Successful property investing should focus on creating a win-win situation where both the seller and the investor benefit. This involves genuinely helping sellers solve their problems while also achieving a profitable outcome. Engaging in open conversations with sellers is essential. By asking the right questions and listening to their needs, investors can better understand the seller's situation and provide tailored solutions. There are unethical practices in property investing that can harm sellers. It's important to maintain integrity and avoid taking advantage of vulnerable individuals, ensuring that all transactions are fair and transparent. Building trust and providing genuine help can lead to referrals and future opportunities. Positive interactions can create good karma, which may result in more business in the long run, reinforcing the idea that ethical behaviour in investing pays off. BEST MOMENTS "We need to ask great questions, listen to what they say, respond and have this conversation... finding out what's most important to them." "If we can find people and prevent them from being repossessed... then that's much better than facing the inevitable of being repossessed." "We want to have this win-win, where we're helping them and also we're benefiting as well." "If you put some good karma out there, the good karma will come back to you many, many times over." 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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  17:06
• Be Careful Who You Spend Time With

  Simon discusses the importance of surrounding oneself with the right people, the highlighting how relationships can lead to joint ventures and collaborations that are essential for growth. KEY TAKEAWAYS The people you spend the most time with significantly influence your success. Choose to be around individuals who are supportive, encouraging, and successful to elevate your own potential. Networking is essential in property investing. Establishing trust and rapport with others in the industry is crucial for securing joint ventures and funding. Relationships take time to develop, so focus on building them genuinely. Connecting with more experienced individuals can provide invaluable insights and advice. A quick conversation with someone knowledgeable can save you time and help you avoid costly mistakes in your property investments. Continuous education and self-improvement are vital. Attend networking events, workshops, and seminars to gain knowledge and expand your network. The investment in your education is often small compared to the potential returns. BEST MOMENTS "You will become, you are like the five people you spend most of your time with." "If you want to be able to continue investing, a key thing you need to develop is the concept of using other people's money." "It always makes you smile and cringe slightly when I hear people who go to a property investor network meeting for the very first time expecting to meet a line of people queuing up to lend them money." "One of the best ways to meet people who you want to connect with is maybe spend some money, become a client of theirs, work with them." 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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  12:33
• Navigating Inherited Properties

  Simon explores the important considerations surrounding inherited properties, discussing the various options available to beneficiaries, including selling the property, moving in, or converting it into a rental. He goes into depth about the need to consider the perspectives of all beneficiaries and the potential financial implications of each choice, the importance of property condition, the possibility of refinancing to fund renovations, and the strategic decisions involved in determining whether to keep or sell the inherited property. KEY TAKEAWAYS When inheriting a property, it's important to consider the needs and opinions of all beneficiaries involved, as different family members may have varying requirements regarding the property. There are three main options for handling an inherited property: selling it, moving in to live there, or converting it into a rental property. Each option has its own set of considerations and implications. The condition of the inherited property can significantly affect its market value. Deciding whether to modernise the property before selling or to sell it as-is requires careful consideration and agreement among beneficiaries. If you choose to keep the property, you may need to raise a mortgage to pay out other beneficiaries. Understanding the difference between residential and buy-to-let mortgages can provide more flexibility in financing options. BEST MOMENTS "Whenever you inherit a property, there are a number of considerations... you might decide to just sell the property, move into the property, or turn it into a rental property." "If you inherit a property you want to rent out, maybe you could refinance it and that will give you the money to do the property up." "Don't just assume you're getting the maximum rent; it might be worth you spending a little bit of money on that property to improve the standards and then also raise the rent." "Investing in property is one of the very best investments you can make... use that inheritance to build the wealth of your future generations." 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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  12:11
• Not Getting Anywhere

  Simon addresses common frustrations faced by property investors, emphasising that many are wasting their time by not focusing on the right strategies. He introduces the "massive success formula," which consists of taking massive action, implementing the right strategies, and maintaining consistency to achieve significant results in property investing. KEY TAKEAWAYS To achieve success in property investing, it's essential to take significant action. This involves dedicating time and effort upfront to acquire properties, which can lead to passive income in the long run. Focus on five key steps to ensure you are doing the right things in property investing: Find or attract motivated sellers. Run the numbers to assess if a deal is good. View the property and build rapport with sellers and agents. Make an offer on every property viewed. Follow up with sellers, as their motivation may increase over time. Consistently applying strategies is crucial for success. Many investors fail because they dabble in strategies without committing to them over time. Regular engagement, such as sending letters or posting on social media, can yield better results. Quickly assess the return on investment (ROI) for properties. Positive cash flow is essential, and different strategies yield varying ROI percentages, which should guide your investment decisions. BEST MOMENTS "The reality is, unfortunately, most people who are trying to invest in property are wasting their time. And that's because they're not doing the right stuff." "If you take massive action, times the right stuff, times consistency, you will get massive results." "We have to either find these people or attract them to us. That's the first step." "We want the seller to say no to us... If they accept it straight away, it means you probably paid too much." "Most amateur investors... think, oh, they're not interested. Let me go and look for the next opportunity." 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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  13:57

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