Ask David Anything! What's Stopping You Moving Forward in Your Deal Packaging Business

‘As deal packagers, we need investors and deals,  it’s a people business’ In this episode, David answers questions from the Progressive Community. He has reached out and asked – ‘What’s stopping you moving forward?’ and shares in-depth advice in response to specific questions around deal packaging and deal sourcing. The questions are wide-ranging but there are key messages for every deal packager and deal sourcer listen in and find out what you should and should be doing on your journey to success in deal packaging.   KEY TAKEAWAYS Investors and deals The investor side is the most important element of the business and you must have an investor and understand their criteria to be able to source a deal that meets the required criteria. You only need two investors to operate your deal packaging business. If you do not know what the criteria of your investor are you cannot source a deal. Getting an Investor The quickest way currently is by building yourself an online profile You need to let people see who you are now, that you are committed to property and are honest. Join in with conversations and share your journey building your credibility online. Make short videos about yourself and what you are doing to help potential investors get to know you. Getting a deal You must have an investor before you begin sourcing a deal so that any property sourced meets their required criteria. As a deal packager, you have to present deals that offer value for the investor Unless you have qualified investors with money available you cannot source or package a deal It’s a people business Property is a people business and relies on the relationships and trust you build with others. If you have a positive relationship with the investor and are about to begin work for them a reservation fee can be requested to ensure commitment, this is fully refundable if you are unable to source a deal or forms part of your fee as the deal packager. A seller is not committed until the exchange of contracts. You can mitigate the likelihood of losing a seller if you have a positive relationship with the estate agent. They will be able to qualify the vendor. If you are working directly to vendor you are in a position to judge the vendor yourself. Marketing You don’t have to spend any money on marketing when you begin, building your profile through social media will bring people to you. Building your investor list is at the heart of your business as a deal packager and you must put yourself out there across social media and in-person   BEST MOMENTS ‘Blog your way forward, talk about who you are and how you’re  moving from being a beginner, others will emphasise with you’ ‘If they are not qualified investors they are just people you have spoken with’ ‘Build your relationship with the investor so you have a clear understanding of their criteria. This means you can effectively source a property for them’    VALUABLE RESOURCES  Property Sourcing Profits Podcast https://www.progressiveproperty.co.uk/ https://unlimited-success.co.uk/ https://www.facebook.com/groups/progressivepropertycommunity/   ABOUT THE HOST David is a property expert with over 25 years’ experience and his own portfolio of 26 units. His current rent roll is in excess of £10k per month. He is also a partner in a Deal Sourcing and Packaging business in the North West of England and has sourced over 250 properties for investors since 2004. In recent years he has, by necessity, had to develop an expertise in LHA strategies. This area is increasingly becoming a niche for him, and he enjoys empowering other landlords by sharing the knowledge he has gained. The ultimate purpose when sourcing properties in this sector for investors is to minimise risk while maximising profit. He has had to find answers to the challenges of Tenant Find, Management, ensuring rents are paid and the transition to Universal Credit. These are strategies he uses in his own business and also on behalf of investors. His investor clients regularly achieve annual gross yields of over 20% with high occupancy rates and voids resolved, sometimes within hours.   CONTACT METHOD https://www.linkedin.com/in/david-siegler-7b126316/ https://www.facebook.com/DavidSieglerInvestments/