Once You Start Making Money In Property, Upgrade These 7 Things ASAP
The Progressive Property PodcastShow Notes
Become a part of the Progressive Property refer-a-friend scheme and Earn up to £250 when someone attends one of our events – you can enrol here: https://www.progressiveproperty.co.uk/raf/
If you’re a landlord or property investor, growing rental income can bring a new set of problems. The accountant who handled your first deal may not know how to structure your next one, their lack of experience can cost you dearly.
I went from being a full-time schoolteacher to earning over £10,000 a month through property in just under 18 months. But when the money and the time started coming in, nobody told me what to do next - that cost me.
So, today, I am sharing 7 upgrades to consider as your portfolio grows. I cover how to get property specialists on your team, delegate low-value tasks, automate property management, evolve your investment strategy, review your company structure, and learn from those further ahead of you.
Of course, some of those decisions are complex so you will need to seek advice from qualified specialists, especially those related to your tax or company structure.
If you want to take the next step and put what you have learned from this podcast into action, you only need to click here - https://www.wealthbuilders.co.uk/progressive-podcast
KEY TAKEAWAYS
An accountant who specialises in property can help structure your finances; e.g. explain how Section 24 affects your numbers and whether a purchase should go through a company.
As your portfolio grows, consider whether a holding-company structure or SSAS fits your circumstances best. To decide this, seek specialist advice from professionals with property business experience.
Delegate routine management and automate rent and compliance tracking to reclaim time and avoid missed deadlines. Your time is worth far more per hour than you would pay most people.
Review whether your strategy still fits your assets, such as whether a single let could work as an HMO. Keep learning alongside investors further ahead.
BEST MOMENTS
"A generalist accountant just files whatever numbers you hand them, but a property specialist can structure them. And one proper conversation with them usually saves more than a year off their fees."
"If you become the most successful investor in every room you sit in, your growth now has a ceiling."
"Changing company structure like this depends entirely on your circumstances and on your exit plan."
Want to avoid learning every property lesson the hard way? Join our free virtual property event and hear where the experts got it wrong - https://progressiveproperty.co.uk/beginner-property-secrets
SAAS episode - https://podcasts.apple.com/ie/podcast/how-to-find-new-sources-of-money-for-your-property/id1176574597?i=1000732731927
VALUABLE RESOURCES
MSOPI – Multiple Streams of Income:
https://www.progressiveproperty.co.uk
ABOUT THE HOST
Sean Fitzpatrick is a property investor, educator, and the Face of Progressive Property. With a 6-figure portfolio and expertise in creative strategies, finance, and off-market deals, Sean shares success stories from the Progressive Property community, expert insights, and real-world strategies to help investors succeed. Tune in for practical tips and no-nonsense advice to accelerate your property journey.
ABOUT THE HOST
Kevin McDonnell is a Speaker, Author, Mentor & Professional Property Investor. He is an expert when it comes to creative property investment strategies. His book No Money Down: Property Invest talks about how to control and cash flow other people’s property to create financial freedom.
CONTACT METHOD
https://www.facebook.com/kevinMcDonnellProperty
https://www.tiktok.com/@progressiveproperty
https://www.youtube.com/channel/UC0g1KuusONVStjY_XjdXy6g
https://www.linkedin.com/company/progressiveproperty
More from The Progressive Property Podcast
Become a part of the Progressive Property refer-a-friend scheme and Earn up to £250 when someone attends one of our events – you can enrol here: https://www.progressiveproperty.co.uk/raf/
Become a part of the Progressive Property refer-a-friend scheme and Earn up to £250 when someone attends one of our events – you can enrol here: https://www.progressiveproperty.co.uk/raf/
Become a part of the Progressive Property refer-a-friend scheme and Earn up to £250 when someone attends one of our events – you can enrol here: https://www.progressiveproperty.co.uk/raf/
Become a part of the Progressive Property refer-a-friend scheme and Earn up to £250 when someone attends one of our events – you can enrol here: https://www.progressiveproperty.co.uk/raf/
Become a part of the Progressive Property refer-a-friend scheme and Earn up to £250 when someone attends one of our events: https://www.progressiveproperty.co.uk/raf/