Questions You Need to Have Answered if You Are New to Deal Packaging

‘Anyone new to deal packaging is probably asking these questions in their head but might not be sure about where to find the answers’  In this episode, David answers questions from a new deal packager. These are the sorts of questions anyone who is new will have wanted to know the answers to;  How do I find a deal? How long does should I spend looking for a deal? When will I get paid? What stops someone stealing my deal? How do I find an investor? Are the skills needed to joint venture and deal package the same?  Listen in and find out the answers to these questions and more in this informative episode.     KEY TAKEAWAYS  When you are looking for a deal it’s key you have the criteria of the investor and are sourcing properties that meet this.  If you find the property that matches the criteria the client has set then you’ve found a deal  The deal packaging can be as quick as a phone call to confirm acceptance from the investor if you are working with criteria and numbers that are set at the start of the process.  When the package is accepted the deal moves into the legal process and the deal packagers fee is payable on exchange.  The legal process usually takes approximately 8 weeks, the key is to continue generating a deal a week to ensure continuity of fee payment.  Investors can be found anywhere and everywhere but the primary source currently is online. The best way is to position yourself in the property forums on Facebook.  Talk about your experience and what you’ve been doing if you don’t have any experience talk about what you are going to do.  Show others who you are, people want to make a connection.  You are working to set criteria and with a specific numbers from a particular investor, it’s not at all likely someone else will be working with exactly the same numbers.  When you work with an investor it’s about building a relationship. They may be working with other packagers covering different areas but if you have a good relationship they will only be working with you in your area.  Occasionally people try to steal a deal if it happens you have to put it down to experience and not work with them again.  The relationship you build with the investor and other involved parties in your area is key, it’s a people business.  The skillset required for joint ventures and deal packaging are similar but not the same.  For both, you need to find a great deal, have a great relationship with your Investor and both types of deal will make you money.       BEST MOMENTS  ‘Maybe at the start, you will view around 30 properties but the number will decrease as you become more skilled at identifying properties’  ‘There is no investor shop you can visit’  ‘It’s about your personal relationship with the investor’  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/