Behind the Scenes of My Masterclass Rent, Cladding and Asbestos: REVISIT

Mark hosts an informal session answering attendees' questions on property investing and business. Topics covered include managing tenant arrears, using AI systems, recovering securing finance, choosing property strategies and leveraging technology to remove reliance on people. Mark provides his famous direct, no-nonsense advice, drawing on his extensive experience. The session offers valuable insights for property investors and business owners alike. KEY TAKEAWAYS Pursue former tenants with county court judgments using options like winding-up petitions to pressure payment, despite the costs involved. Expect Bank of England base rates to remain around 4-4.5% through 2025 before dropping, according to trading market predictions. Resolve cladding issues for financiers by providing EWS1 reports showing remediation works address combustible materials. Get multiple assessments when handling property contamination like asbestos to determine actual risks and remediation needs. Institute gradual rent increases for retained tenants to keep pace with market rates and offset rising mortgage costs. Leverage technologies like AI wherever possible to remove reliance on staff and minimise people management headaches. Seek out self-motivated employees requiring minimal oversight to avoid poor performance issues plaguing growth. BEST MOMENTS "I issued a winding up petition on a care company...it probably cost four or five grand, but it's existential for them." "I check our rents once a month...I look back and a block we finished two years ago...Those rents are now going up 40%." "When you attack landlords...then rents have to go up to a level where it works again. That's the adjustment that's taking place." "I'm looking forward to that because apparently this can remove quite a bit of admin. I would put as much technology in as possible." VALUABLE RESOURCES ABOUT THE HOST Mark has bought, sold or has managed around 1,000 property units for himself, Rob, his family and his investors since 2003. He is a system and spreadsheet geek and has developed a complex, confidential deal analyser system of buying residential, commercial and multi-let properties. CONTACT METHOD Email: Markhomer@progressiveproperty.co.uk LinkedIn: Facebook: Twitter: ‘Brought to you by Progressive Media’:

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Behind the Scenes of My Masterclass Rent, Cladding and Asbestos: REVISIT is an episode from Mark My Words Podcast by Harry Kumar.

This episode is 48:54 long.

This episode was published on Nov 28, 2024.

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