In this episode, Kevin lets you listen in on a live mentoring call he did with Steve who is a plumbing and heating engineer who is looking to set up a SA business as well. Kevin steps him through finding the right area to set up in, making sure that the lease allows SA and the tricky subject of capital allowances. He also shares why, often, properties in depressed areas can make great SA properties. As well as touching on several other subjects which are of particular importance to those getting started in the industry.
KEY TAKEAWAYS
Don´t discount the cheaper areas of town. Provided people can safely park their car outside it is worth checking out.
The right owning entity is important. Kevin explains the pros and cons of each option in the podcast.
Don´t follow the herd.
Understand what your customer wants, so you do not inadvertently dismiss good opportunities.
Create win-wins for investors. Kevin explains how in the podcast.
With SA, it is often possible to use the TOMs scheme to greatly delay having to pay VAT. Kevin covers that in quite a bit of detail.
BEST MOMENTS
‘Reassuring the landlord or agent that you already have clients lined up is ideal’
‘Once you have listened to what the investor wants, you can reverse engineer the way you present the deal to them.’
VALUABLE RESOURCES
Contact Kevin - [email protected]
Discover How to Profit from the Airbnb and Bookings.com Boom
The Serviced Accommodation Property Podcast
https://propertysoldier.co.uk/
Rich Dad, Poor Dad by Robert T Kiyosaki
Serviced Accommodation Success by Kevin Poneskis
https://progressivepropertyreferral.com/serviced-accommodation-discovery-day/amb0676
ABOUT THE HOST
Your host Kevin Poneskis enjoys public speaking, travelling, exercising, and keeping fit. He also enjoys working with a charity called STOLL which provides accommodation and training for homeless veterans.
Kevin was in the British Army serving 24 years, mostly in a Commando unit and retired at the rank of Regimental Sergeant Major. He left the Army in 2011 and became a full-time property investor. During most of his Army career, Kevin was investing in property and has been a property investor now for over 27 years.
CONTACT METHOD
https://en-gb.facebook.com/propertysoldier/
[email protected]
