In this episode of the Progressive Property Podcast, Kevin discusses everyone’s most hated topic, Tax! There are new tax changes incoming, and here is what you need to know. Do not fear, there have always been tax changes and people have ALWAYS made money, the key is to roll with the punches and listen to Kevin’s top tips so that you can make the most of your money!

Discover how tens of thousands of ordinary brits are quietly getting rich with minimum investment!
bit.ly/Podcast-MSOPI

KEY TAKEAWAYS 

1. Run your investment property as serviced accommodation to avoid paying tax on your interest only mortgage!
2. Turn your properties into a limited company to get access to incorporation relief. (You will still have to pay stamp duty)
3. STOP PAYING TOO MUCH TAX by getting a tax advisor instead of an accountant.
4. If you run a business (and property is a business) make sure you claim for all of your deductible expenses before tax!
5. If you’re investing in a property to rent, look for properties with happy, paying tenants already in it. That way, you don’t have to risk finding potentially rubbish tenants yourself!

BEST MOMENTS 

“There have always been tax changes from the government, and people have ALWAYS made and lost money, the key is to roll with the punches”

“Accountants are tax collectors for the government, get a Tax Advisor instead!”

VALUABLE RESOURCES

https://www.progressiveproperty.co.uk

https://kevinmcdonnell.co.uk 

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://kevinmcdonnell.co.uk/

progressive, property, investing, rent, housing, buy to lets, serviced accomodation, block, auction, home, financial freedom, recurring income, tax, mortgage, assets: http://progressiveproperty.co.uk/

How can you flip properties easily and successfully? Listen in to this episode to hear Kevin’s 7 tips of flipping properties for profit. If you are new to this area or have only done one or two property deals this is the perfect episode for you.

Discover how tens of thousands of ordinary brits are quietly getting rich with minimum investment!
bit.ly/Podcast-MSOPI

KEY TAKEAWAYS

1. Just get started – stop procrastinating! You will make mistakes, be aware of this and own it. Reduce the risk by educating yourself.
2. Know your numbers. Start with the end in mind.
3. There are plenty of houses to flip, don't be folder by hearsay.
4. You can flip houses with none of your own money.
5. You need to build a power team, to build success you need people around to help and support you, tap into others knowledge and expertise.
6. Speed – You have to move quickly with house flipping.
7. Don’t do the work yourself – Get the right professionals in to do the work, don’t be pennywise and pound foolish!

BEST MOMENTS

“The best time to start is right now”

“Maybe you need to be around the right kind of people…money is everywhere you just need to get out and find it”

VALUABLE RESOURCES

https://www.progressiveproperty.co.uk

https://kevinmcdonnell.co.uk 

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://kevinmcdonnell.co.uk/

progressive, property, investing, rent, housing, buy to lets, serviced accomodation, block, auction, home, financial freedom, recurring income, tax, mortgage, assets: http://progressiveproperty.co.uk/

Should I manage my own properties or outsource them to a lettings agency? This might be a question that you are asking yourself, as you start your journey in property. From his fifteen years experience in property, where he now owns his own lettings agency, Kevin McDonnell gives his take on how you should go about it. Whether it’s making sure you get experience self-managing a property, to the benefits of partnering up with an existing agency in a JV partnership, Kevin gives you all the pros and cons of Self-management vs Outsourcing.  

KEY TAKEAWAYS

When I start out in property I thought I would have to do everything. When I started I would always do everything from meeting the tenants, gaining references, prepare and write the contracts. I’d do the repairs, and deal with the day to day issues. I thought that was what an investor required. Whereas today I find great deals and my partner manages out the letting agency on a day to day basis.   

Learning what the agents need to do. Self-management is a good thing to do at least a small amount. You’ll find out what kind of problems that your tenants have. Your tenants are your clients and you are providing them with a service which you need to provide to the best of your ability. This will also save you on the management fees but cost you in time. This will make sure you have the experience so you know your agent is doing things in the right way.  

What sort of systems should you have to self manage? I used for my first ten properties, Microsoft Excel. There are loads of fancy apps, but if you have ten properties you can manage them on a spreadsheet. Just get your first house and manage it on Excel. Once it becomes too big, over ten properties, you should look at things like Arthur or GoTenant. We have now moved on to Jupix because we are running a letting agent, and my JV partner runs that but that’s too complicated and costly for if you are just starting out.   

Give your first couple of properties to an agency. Learn how to do it properly, learn how to self manage your property. Then take on property to self manage so you get an inside guide to what they go through. Learn everything that an agency does. An agency does a lot of work from people who say they are interested in that property, lodge the deposit, gaining references and sorting out contracts. 

I found a JV partner. I found a local guy who was running a satellite office but he wasn’t on the high street. He was like a virtual agent. I approached him. I asked him to move into the high street into a property that I had bought. He’s 50/50 in the letting agents. I have a JV partner and he gets 50% of the profits.  

BEST MOMENTS

‘Its about being smarter with your time.’ 

‘Be an investor rather than a landlord.’ 

‘Since outsourcing, I have more time to think.’ 

‘Make sure you see your tenants as clients.’ 

‘You don’t need fancy software to manage one house.’ 

‘Get perfect later.’ 

‘It was cheaper to manage in house.’ 

‘The management fees from other landlords pay for the fees.’ 

‘When you're starting out you don’t have a skillset.’ 

‘Agents do a lot of work.’ 

‘You can shadow an agency.’ 

‘I wanted to be a business owner.’ 

‘It’s a win, win situation.’ 

VALUABLE RESOURCES

https://www.xero.com/uk/  

https://jupix.com 

https://gotenant.co.uk 

https://www.arthuronline.co.uk  

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   

Kevin McDonnell Facebook   

Kevin McDonnell website   

progressive, property, investing, rent, housing, buy to lets, serviced accomodation, block, auction, home, financial freedom, recurring income, tax, mortgage, assets: http://progressiveproperty.co.uk/

Kev is interviewed by MJ, who is doing a dissertation around AI and wants to quiz Kev on what he thinks the impact will be on the property world. They talk about the real-life implications and applications of AI and VR including relationships with clients, costs and convenience.

KEY TAKEAWAYS 

• VR and AI present a unique opportunity to build better relationships.
• There will be huge time savings to be had once AI has been established within a workflow.
• Virtual reality means that staff and people other than the landlords can review accommodation, sending the recording to the landlord to review at their convenience.
• Communication is essential if AI and VR are to work in any industry, individuals and companies need to be educated with realistic expectations.
• MJ believes that real estate agents haven’t been told or educated about why and how AI and VR could work for them.
• You don’t have a business unless you have happy customers, if you can make your customers happier then you can generate more income, Kev would want AI or VR to aid in this.

BEST MOMENTS  

“I’m really excited about this and also really scared”

“Relationship building is important between a real estate agent and a customer”

“Any relationship starts with trust in the first place”

“Would you buy a house on the back of a virtual reality tour?”

“You know way more about the technology than the actual client that would be using it”

“If you want to sell me on virtual reality you need to sell me the benefits not ask me why I would use it”

VALUABLE RESOURCES

MSOPI – Multiple Streams of Income:

https://www.progressiveproperty.co.uk

https://kevinmcdonnell.co.uk

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://kevinmcdonnell.co.uk/

TikTok: https://www.tiktok.com/@progressiveproperty

YouTube: https://www.youtube.com/channel/UC0g1KuusONVStjY_XjdXy6g

Twitter: https://twitter.com/progperty

LinkedIn: https://www.linkedin.com/company/progressiveproperty

Instagram: https://www.instagram.com/progressiveproperty/

Facebook Community: https://www.facebook.com/groups/progressivepropertycommunity

Facebook Page: https://www.facebook.com/Progperty

progressive, property, investing, rent, housing, buy to lets, serviced accomodation, block, auction, home, financial freedom, recurring income, tax, mortgage, assets: http://progressiveproperty.co.uk/

Kevin joins Jessen James on the Mind Over Money podcast to talk about the power of property investing itself, as well as his own personal journey in business, and the part that mind-set has played in his incredible rise to success.

KEY TAKEAWAYS

• Inspiration can take many forms, but nothing stirs us or empowers us more than seeing others who have succeeded, and hearing the stories of how they did so.
• When our backs are against the wall, we usually discover how strong and resourceful we can be. Never be afraid of pressure, because it can serve to highlight our strengths.
• Often, we tell ourselves that success is elusive. We are afraid to take the risks for fear that they won't work out. Taking that first step towards action is crucial.
• Accountability is important when it comes to our business journey. We must take responsibility for the choices we make, even if they are wrong ones.

BEST MOMENTS

'Within 12 months I'd replaced my income'

'I had no choice but to think creatively'

'It's not difficult to raise money. It's difficult to try'

'Stop looking back and look forward'

VALUABLE RESOURCES

Mind Over Money Podcast - https://omny.fm/shows/mind-over-money

ABOUT THE GUEST

Jessen James

Jessen has spoken to and trained thousands of entrepreneurs all over the world, and has featured on Channel 5's Rich House Poor House.

Having built, bought and sold multiple businesses himself, Jessen has had some amazing wins and some rather spectacular fails too! He now dedicates his time to serving others to better their lives and businesses by sharing his learnings. Get in touch today.

ABOUT THE HOST
Kevin McDonnell

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://kevinmcdonnell.co.uk/

progressive, property, investing, rent, housing, buy to lets, serviced accomodation, block, auction, home, financial freedom, recurring income, tax, mortgage, assets: http://progressiveproperty.co.uk/

A motivating and informative episode where Kevin speaks to property investor Martin Sanderson. Martin talks about how he got started in property investing and how he turned his initial zero investment into a scalable successful property business.

KEY TAKEAWAYS

• Martin was working in hospitality but then read Kevin’s book which made him decide to do the Progressive No Money Down Course and hasn’t looked back since.
• When lockdown hit, Martin took the initiative and put himself out there on social media and it worked – he secured deals whilst most of the country was on pause.
• Martin has already managed to scale his no-money down property business, he has managed this mostly by using creative techniques he learnt from Progressive, often helping people along the way too.
• Networking was incredibly beneficial to Martin and his team. This made him want to join and expand the Progressive Property Network in his area of Preston.

BEST MOMENTS

“You can create the money to buy that building out of the profits of the pub, it becomes a true no-money-down deal the money is created before you ever buy it from the asset you’ve acquired”

“It’s helping people get more from their property in a creative structured way”

“If you’re listening to this, do not share the details of a deal unless you’ve got it secured”

ALUABLE RESOURCES

https://www.progressiveproperty.co.uk

https://kevinmcdonnell.co.uk

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://kevinmcdonnell.co.uk/

progressive, property, investing, rent, housing, buy to lets, serviced accomodation, block, auction, home, financial freedom, recurring income, tax, mortgage, assets: http://progressiveproperty.co.uk/

FREE DOWNLOAD How YOU Can Make A FORTUNE From Buy-To-Let https://bit.ly/BUYTOLETPOD

One of the biggest hurdles when starting property investing is getting over the idea that it is hard. It isn’t hard, it’s just new to you. In this episode, co-founder of Progressive Property, Rob Moore tells you why this is and what you need to do to conquer this feeling.

KEY TAKEAWAYS

• Working for yourself, doing what you love and building an empire might feel daunting. But it’s a lot easier living a life you want to instead of wishing your time away doing something uninspiring and that you hate.
  
  
• There will always be people in the game that are struggling. Those people will tell you that it is too hard and it’s not as it seems. If things feel hard that means you haven’t created realistic expectations.
  
  
• Don’t focus on the negatives of something new. Enjoy this period of time, when something is new it’s exciting and you won’t get to experience it in that way again.

BEST MOMENTS

“It’s not hard, it’s new”

“You have to work hard enough not to work hard”

VALUABLE RESOURCES

DISCOVER HOW TENS OF THOUSANDS OF ORDINARY BRITS ARE QUIETLY GETTING RICH WITH MINIMUM INVESTMENT!
https://bit.ly/PRS-Podcast

https://www.progressiveproperty.co.uk

https://kevinmcdonnell.co.uk

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://kevinmcdonnell.co.uk/

progressive, property, investing, rent, housing, buy to lets, serviced accomodation, block, auction, home, financial freedom, recurring income, tax, mortgage, assets: http://progressiveproperty.co.uk/

FREE DOWNLOAD How YOU Can Make A FORTUNE From Buy-To-Let https://bit.ly/BUYTOLETPOD

In this episode of the Progressive Property Podcast we revisit episode 134 where Dan gives you the 5 essential things to consider when looking for a JV partner.

Choosing your JV partner is NOT a child’s game, like pin the tail on the donkey or ring-around-the-rosy. There’s too much at stake when you don’t think carefully and you don’t have your guards up. Discover how you can thoroughly pick the best JV partner in your property business through Dan’s simple steps. There will always be one who’s very compatible with your knowledge, skills, and vision, so never settle!  

KEY TAKEAWAYS 

• Work out the real reason you need a JV partner. Are you really in dire need? Or are you just lacking of self-belief? What business are you looking to bring your JV partner on? Make sure that your bringing in the right person. If you don’t want to do it alone, it’s worth considering also to have a mentor who can guide you. Having a JV partner might complicate the situation if you aren’t clear yet of your purpose. 
• What will each person’s role be? It’s best that you complement each other. Find someone who have the knowledge and skills that you lack. And, who will deal with the day to day issues? If you just want someone who will provide the funds, then being active with the operations is the least to worry about when looking for a JV partner.  
• Before any agreements, remember to make a list of things you need to agree upfront. A JV Partnership agreement must entail everything each of you must bring to the table. What does your JV partner want? Know what outcome are they looking forward to. Also prepare an exit plan just incase of unforeseen circumstances (e.g. breach of contract, critical illness, etc.) 

• If you’re looking for a joint venture in property, familiarize yourselves first with PS13/3 regulations. There are only a bunch of people you’re allowed to joint venture with, and PS13/3 has it detailed. 

• Don’t pick someone just like you. You are not looking for another you, you are looking for someone who can do what you can’t do. Consider taking the Wealth Dynamics Test to gauge if your personalities are compatible. You and your partner can be: a Creator, a Star, a Supporter, a Deal Maker, a Trader, an Accumulator, a Lord, or a Mechanic. 

• Don’t rush in to picking a JV partner. If you’re picking someone for the long term, test everything out first. It would be a waste of time to know that what you have hope for in the partnership won’t be fruitful. Be clear about their values, not just about the money, the skill, and the knowledge they can offer. 

BEST MOMENTS 

• “Sometimes, people think they need a JV partner and they go into business with somebody when in hindsight, all they needed was to build some knowledge and gain some belief for themselves.” 
• “We have the end in mind before we even started, and that’s what’s really important.” 
• “You are not looking for the best mate to go out with, you are looking for a business partner who brings a different dynamic, a different skillset.” 

• “Pick the right person to grow the business.” 
• “It’s not a race; it’s a journey.” 
• “I made a lot of mistakes in property, but I made them before I got educated.” 

VALUABLE RESOURCES 

• Progressive Property 

• PS13/3 Restrictions on the retail distribution of unregulated collective investment schemes (PDF)  
• Wealth Dynamics Test 

ABOUT THE HOST
Kevin McDonnell

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://kevinmcdonnell.co.uk/

progressive, property, investing, rent, housing, buy to lets, serviced accomodation, block, auction, home, financial freedom, recurring income, tax, mortgage, assets: http://progressiveproperty.co.uk/

One of Kevin’s most asked questions is how to add value to a rental property, in this episode he explores various ways you can do this including 5 fundamentals you need to focus on.

KEY TAKEAWAYS

• Buy something where you know you can add value, where there is space for improvements, particularly focusing on the kitchen and bathroom.
• Probably one of the most effective ways to add value is to think about the internal layout of the property and how you can make this work better and more valuable. E.g turning a 2 bed into a 3 bed house; this can add up to 25% of the equity.
• Carpets and decoration are the final two touches for every room in the property that adds value.
• Loft conversions and basement conversions can add significant value to a property, especially in cities. 

BEST MOMENTS

“nice bathrooms, nice kitchens, they’re going to give you highest impact on value and highest impact on rental income”

“You don’t have to spend a huge amount of money”

VALUABLE RESOURCES

https://www.progressiveproperty.co.uk

https://kevinmcdonnell.co.uk

***FREE DOWNLOAD*** How YOU Can Make A FORTUNE From Buy-To-Let http://bit.ly/BTLReport-YT

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://kevinmcdonnell.co.uk/

progressive, property, investing, rent, housing, buy to lets, serviced accomodation, block, auction, home, financial freedom, recurring income, tax, mortgage, assets: http://progressiveproperty.co.uk/

Shimon Rudich of MS Law joins Kev to talk about creative property investing including the many options out there and the most effective ways of utilising them to grow your property investing business.

KEY TAKEAWAYS 

• You have to be willing to think outside of the box and out of your comfort zone in order to use creative property investing techniques.
• If you want to scale quickly and make money faster then creative property techniques are the way forward for you.
• There are many similarities between what is happening now and 2008, if the housing market crashes there will be many opportunities for experienced property investors.
• If the market crashes, as a property investor you pay less but you can still charge the same rent. It also ‘culls’ a lot of investors that aren’t serious so can be a positive thing for you as an investor. 
• There isn’t one single strategy that works for everyone or even every situation. You must tailor your strategy to your unique circumstances.

BEST MOMENTS  

“Different people have different mentalities”

“If you only do things in one way you limit the opportunities”

“We buy properties to make money and instead of buying in the usual way we can buy to make more money, why say no”

“They deserve to be out of the game”

“Less competition, pay less, what’s bad about a market crash now?”

VALUABLE RESOURCES

MSOPI – Multiple Streams of Income:

https://www.progressiveproperty.co.uk

https://kevinmcdonnell.co.uk

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://kevinmcdonnell.co.uk/

TikTok: https://www.tiktok.com/@progressiveproperty

YouTube: https://www.youtube.com/channel/UC0g1KuusONVStjY_XjdXy6g

Twitter: https://twitter.com/progperty

LinkedIn: https://www.linkedin.com/company/progressiveproperty

Instagram: https://www.instagram.com/progressiveproperty/

Facebook Community: https://www.facebook.com/groups/progressivepropertycommunity

Facebook Page: https://www.facebook.com/Progperty

progressive, property, investing, rent, housing, buy to lets, serviced accomodation, block, auction, home, financial freedom, recurring income, tax, mortgage, assets: http://progressiveproperty.co.uk/

How can you flip properties easily and successfully? Listen in to this episode to hear Kevin’s 7 tips of flipping properties for profit. If you are new to this area or have only done one or two property deals this is the perfect episode for you.

Discover how tens of thousands of ordinary brits are quietly getting rich with minimum investment!
bit.ly/Podcast-MSOPI

KEY TAKEAWAYS

1. Just get started – stop procrastinating! You will make mistakes, be aware of this and own it. Reduce the risk by educating yourself.
2. Know your numbers. Start with the end in mind.
3. There are plenty of houses to flip, don't be folder by hearsay.
4. You can flip houses with none of your own money.
5. You need to build a power team, to build success you need people around to help and support you, tap into others knowledge and expertise.
6. Speed – You have to move quickly with house flipping.
7. Don’t do the work yourself – Get the right professionals in to do the work, don’t be pennywise and pound foolish!

BEST MOMENTS

“The best time to start is right now”

“Maybe you need to be around the right kind of people…money is everywhere you just need to get out and find it”

VALUABLE RESOURCES

https://www.progressiveproperty.co.uk

https://kevinmcdonnell.co.uk

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://kevinmcdonnell.co.uk/

progressive, property, investing, rent, housing, buy to lets, serviced accomodation, block, auction, home, financial freedom, recurring income, tax, mortgage, assets: http://progressiveproperty.co.uk/