Prepare to have your perceptions of property investment turned on their head, as Dave Callanan returns for an impromptu session just three months after our initial discussion. This time, he lifts the veil on some harsh realities he faced with his newest real estate endeavour – a candid revelation for investors at any level.
This week, we walk through the labyrinth of mortgages, legislation, and strategic gambles with Dave, who's come face-to-face with the often unpredictable nature of the property market. What transpired in Roxbury, the shock of new laws on his sales strategy, and the financial wizardry behind successful (and not-so-successful) property investments are all under the microscope. Join us for a compelling discourse that intertwines the art of numbers with the agility to thrive in the dynamic world of real estate.
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www.cwipodcast.com
E-Book - www.winningmadeeasy.co.uk
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Prepare to have your perceptions of property investment turned on their head, as Dave Callanan returns for an impromptu session just three months after our initial discussion. This time, he lifts the veil on some harsh realities he faced with his newest real estate endeavour – a candid revelation for investors at any level.
This week, we walk through the labyrinth of mortgages, legislation, and strategic gambles with Dave, who's come face-to-face with the often unpredictable nature of the property market. What transpired in Roxbury, the shock of new laws on his sales strategy, and the financial wizardry behind successful (and not-so-successful) property investments are all under the microscope. Join us for a compelling discourse that intertwines the art of numbers with the agility to thrive in the dynamic world of real estate.
Free Coaching Community - http://geomcnee.com
www.cwipodcast.com
E-Book - www.winningmadeeasy.co.uk
Instagram
Twitter
LinkedIn
Hello and welcome to this week's episode of Conversations with an Investor. I'm joined this week by returning guest Dave Callanan, and we're going to find out what happened and why his goals were a little out of whack, shall we say so, instead of doing this episode in four years time, we're doing it three months later. So let's find out how things panned out since the last time he was on the show. So, without further ado, let's dive right in. So you're back in the hot seat. Back in the hot seat, george. You're back here already back here. It was supposed to be four years later. Yeah, you'd have 20, you would say. You would have 20 by the time you're 40. What happened since then?
Speaker 2:we left here that day, and how long has it been? Four months, not even is it three months three months yeah, at the start of february here. So what's that? Three months In May?
Speaker 1:Yeah, three months, three months, yeah, right. So it was supposed to be four years later and we're here three months later. What's happened?
Speaker 2:So we left here that day. We were going out to look at a property we were just after buying out in Roxburn. Went out there there, looked around, seen the house, like Jesus, this is a really nice spot. In the van driving down the road and you were like, yeah, I'm going to sell it for this. And I was how much on for it? You were like 160. And I said, jesus, it looks like a really nice place. And he was like, yeah, it's a hot, because when there you could see, actually in the distance, you could see where there was planes landing. So it was close to Edinburgh airport.
Speaker 2:So like what do you think it'd make if it was to be sold? And you're like 220, 200. And then I said to you, okay, what would you want to ask me if I was to buy it? You said 160, because I want to get 160 for straight away, if I want to sell it. So then that's when we went down the road where we started talking about the mortgages and I said to get 160 straight away if I want to sell it. So then that's when we went down the road where we started talking about the mortgages and I said to you well, if I get a mortgage to buy this, what would you be talking? You said, right, to get a mortgage, you're going to have to put down roughly 35, 40 grand of a deposit and then put it out. And I was like, right, so what would the figures be? You said, well, over 25 years, we started doing the figures and it's going to be like 240 odd grand.
Speaker 1:I was like, right, 240 so 240 is what you're going to pay back on a 160 000 pounds purchase.
Speaker 2:Yeah, and I was like what the fuck man? I said so I said you're paying, you're putting down a deposit of 40 grand. I said so you're only actually getting a loan of 120 and you're going to pay them back 240 and you still owe them 120. And you're like, yeah, so we started doing, you have all the data they're working out for rental, for airbnb and all them other online travel agencies. And you were able to say, right, gauging this, this would be pulling high threes, maybe even four grand a month dependent, and obviously, if there's festivals on or whatever, it could even be more.
Speaker 2:So I worked out the figures and in 25 years you'd have earned 1.8 million, just roughly 1.8 million, maybe more, maybe a little bit less, but in that region as a service department. And then I was looking at the figures and I was like, right, it's 200 and pay back 240 and earn 1.8 million. I was like, right, this sounds, this sounds good. No, this sounds interesting. And then that's when we discovered that it actually couldn't be sold straight away because this new law that was passed, that if a person buys a property, you can't mortgage it until you can't sell someone with a mortgage until after six months.
Speaker 2:So then that was obviously put like a bit of a spanner in it and you were getting head on it, it was getting cracked on you. So, look, I'm going to work away and if you want me to do things that you'd like, I'll do them for you, you know. So we're running over there yesterday now, just, you know, seeing how progress is going on its way to literally go online now straight away. It's going to be very interesting to see how it kicks off on us.
Speaker 1:Some difference in such a short period of time.
Speaker 2:Like brand new. The house is literally like brand new. It's such a lovely area, clean. Look across the road, look anywhere. It's just a nice, nice neighborhood. There's no dirt, no roughness, no dirty bathwater.
Speaker 1:This is a really, really, really nice place so we've described it as a shift in mindset yeah, definitely, oh, a million percent.
Speaker 2:Did a million percent like? Because even like, let's say, going back to that time, you were just after starting off your mindset coaching thing and I joined that and you're listening to other people's here and their stories how they you know different walks of life, like people they're based in holland, germany, scotland, england. You know all around like and they're all giving their input into it and you can see that by following a certain structure, like you said, and we're doing this drawn and you're like taking all the nonsense and around and just get to know the resistance and making it straight. It's actually very, very easy to get.
Speaker 1:So what I will tell people what happened there, because that's it. We did this and it's a. It seemed to click for you because in the the forms, in the way it's laid out online, yeah, it didn't really click for you did it.
Speaker 2:No, no, no, like, so, literally, like I told you in the last podcast, like I I had dyslexia, like you know, and for me even, like when I was in school, people would put the teacher to write everything on the blackboard, right, and she'd say, right, you know, do that. And I'd go up and she'd wipe it off and I'd be able to do it. And she said, right, you're able to do that. And I was like, okay, she said, but you told me you weren't able to do it. And I said I'm not going to be able to do it. So, like when I was going online and you know, obviously I'm looking at my mindset, checking my mindset community every night to see what people are putting down. You know, literally everyone's commenting on it, they're writing it's back and forward, and I've seen people saying fill out the planner. So I'm I just can't actually figure out the planner and like it wasn't until I come over, like even to you, and you're like right, this is how we follow the planner. It looks, looks pretty simple, but someone that might have a little bit of a we call it a learning disability difficulties I wasn't able to follow. But then you start to literally sketch out and say this is it, this is your vision. Where do you see yourself in 10 years' time? So we're writing that down, you're scoping it out and you said this is the thing Whenever you're thinking of something, you're thinking of something, you're literally it's very hard to follow you because you're going from here to there.
Speaker 2:It's like a juggling act, like it's like a scribble. What you actually need to do is get everything in line and make it straight. And it was like when we're talking about the mortgages, like before, you'd be like you need to get a mortgage started. If you're just literally, you're holding yourself back to an extent, you are getting there. You're buying properties, you're getting there, but what's happening is, instead of you putting out 60 grand on a property, you could have two, three deposits for a mortgage.
Speaker 2:And so in my mindset, when I actually I could never figure this out, I was like, I think in my own head, george talking shite, this is rubbish, but he's trying to tell me, he's trying to catch me. In other words, right, but it wasn't until, like actually, when I went out to broxburn, seeing the place and seeing that I can have this property for a 35, 40 000 pound deposit instead of buying a shithole in a bad area and with the help of god that the area would turn around and become into a prime location at some point I could actually go directly and buy a really really nice property with a high return straight away so we shifted your mindset because, you know, it seemed to be that it was that you, you weren't getting it it wasn't going through.
Speaker 1:You were like you don't understand, and I remember when you were looking at the, put it down on a spreadsheet and I put, like what the property will make, how much you buy the property for, how much that would cost and what would be if you structured it using a mortgage and you were hyper-fixated on why would I pay for a house £40,000 deposit and £240,000 in interest? That doesn't make any sense. You're paying money for nothing to then need to pay back the mortgage the amount that you borrowed anyway. It doesn't make any sense. This is have you looked at the income column and you went oh yeah, it's that you're hyper fixated on one part and you've ignored all the other parts yeah and that was a shift in your mindset.
Speaker 1:And yesterday and today we were doing a bit of the mindset. We were discussing the mindset and how it's laid out and we got speaking about how important it is what you put your attention onto. So what you're into, what you put your attention onto, you get more of. And I literally drew it out like a stick man and some diagrams of how it works yeah and you could see that you were like, hey, this is really good.
Speaker 1:Yeah, and that was very different to the forms that were online yeah, because in the forms online I just couldn't.
Speaker 2:Like you were saying to me your fellow this and this. I was like, charge, I it's looking for you have to put in a minimum of six. And you were like, which are? That should be easy for you. Like you know, I heard you speaking before, I know what you've done, blah, blah, blah, blah. And when you put it all down like that, you're like yeah, it actually makes sense.
Speaker 2:But it wasn't until actually, as you said, stick man, funnel, scribbles everywhere, this is, you're getting lost in that kind of thought like that. You think this is the right way of doing it. He said yeah, it is working for you. If you look at everything, you are ending up where you actually want to end up. But if you just just tweak a few things and just look at a different pattern, you'll actually get there faster, as we can see in the last since the last episode. Like I, as we said that day, you said we're leaving that evening. We know what, what we're looking at and we looked at it. I wanted to buy it. Unfortunately, because of the bit of a limitation on the mortgage thing, I couldn't buy it straight away, but literally the next day you send me a link, you're like, look at this property that you're popping up, it's in a hot spot. It's actually a no-brainer, because I went on bookingcom typed in the area and I was like, right, baloch set it for a certain amount of days and I could even see in a lot of that, a lot of people didn't want to cater for children. I was like why you, you know like they're actually cutting their customers, but yet when I looked at their bookings, they were still booked out. Do you get me like, so, like five days, no bookings. So, as I start going through and I put in kids and I could actually more properties and I was watching the prices, so, literally, where you were looking at, one that was 160 pound a night was now 190 pound a night, 180 pound a night, and they were still booked. You still couldn't even get a booking if you'd like you know.
Speaker 2:So, um, concentrated on getting that, getting that sorted, and tried to go down the road of getting a mortgage and, as you know, I went through. I went through. Everything like this is a thing that I do actually really want to talk about, because a customer of mine rang me the last day about this. So I'll get back to that. But with the mortgage there's an awful lot to it and me paying tax in the UK since 2015, money in the bank like revenue coming in every single month from all the nine flats that I have, the long-term tenants in it. The one flat I have with a service apartment and a decent, decent chunk of coin in the bank that's able to buy the flat outright if I want to buy it.
Speaker 2:But obviously my mind has shifted. I want to get the mortgage because this is going to open a completely different door for me, and sent in all the application. Everything was sweet and then they just turned around and said hang on a second, you're in southern Ireland. So even though I had everything registered properly here money coming in, tax paid on paper, everything was grand, but it wasn't until the mortgage company I turned around and said you know, I was approved in principle, but when they actually started digging deep into it to go to the next stage, I said hang on a second, this flat is in Southern Ireland. So I wasn't able to get the mortgage. But because the flat was just so, so nice, I said this is just a beaut, I can't miss out on it, I just bought it, I just paid it out and bought that flat. So Just getting back now to what I said, what's?
Speaker 1:your shift before you tell us about the next part. What's been your shift in your mindset over the last three months? Just from a mindset point of view.
Speaker 2:It's just. I suppose I was always looking at it in one way, the way I always knew it was always this Buy a car, sell it much of it, try to buy something else, try, just buy the property outright, owe no money on it. And look at, don't get me wrong, it's, it's, it's good, like you own it from day one. But what I'm actually doing is I was limiting myself to this and even though, like we had this with a quick chat about this years ago, I was back back from Australia and I remember thinking I was like, fuck me, why would I want to get a mortgage, buy to let you never own it? Just didn't really see it properly, but it wasn't. When I literally got in this community and seen how there's other people on it A lad there I know that I'm actually really really good friends with down in London was on your podcast before JJ and even him. He has properties, he's renting them out and since the mortgage rates rose, he's his profit his profit is nearly halved, you know and he's on the mindset community and now he's after changing his mindset and he's actually started to invest here in Scotland as well, because it's nice when there's more people on it and everyone has their own thing.
Speaker 2:You actually find out you're not. We're nearly all on the same page here, like we're all looking for the same end goal, which is not to have the worries, not to have the stress, just to have that constant flow of income coming in. You know, without any major dramas. You're always going to have some sort of difficulties, but just to limit that, you know, I think going on the community definitely was a thing for me, where it actually. We have a chat every Sunday. These chats are meant to be an hour. These chats can go for two hours, an hour and 45 minutes. My wife's downstairs like what the fuck are you talking about? Like you're up there. I meant to be finished at eight o'clock and the film is over and you're still talking shit upstairs.
Speaker 1:You know, but it's the power of the community, because I mean, when you are doing it yourself, it can be lonely especially if you don't have friends or family that know or are interested in the same thing yeah so when you have people that are looking to push their mindset in whatever endeavor they seek, knowing that somebody's pushing it just like you is means that you've got some company. Yeah, instead of just feeling like you that you've got some company yeah instead of just feeling like you're the lone ranger exactly.
Speaker 2:Yeah, but it's, it's uh. Another thing about it is it's to be able to bounce off someone like so if anton, if I got stuck on them before the first one, I'm calling when I've called you, because I'll be like george, what do you think of this? What do you think of that? As we know, on the other one, 12 o'clock at night and you're all set to random fucking rubbish, right, and you're always saying to me, like, why are you looking at this shit? If you look at, you're always going on to Zooplay, you're always going to Rightmove, you're looking at properties that are 30 grand, like you're not looking at the ones that are 60 grand. You said, like, if you buy the one for 30, you're going to spend this money on it, you're going to end up with 60. And you still look at it. You said you have a nice flat, but look at the location, look at the type of rent you're going to be getting.
Speaker 2:And it wasn't until I had that shift to think right, hang on a second, if I do put the 60 in instead of spending 30 on it to make it look good, I might have spent 10. And now the 60 grand flat, that was that I got that I spent 10 grand is now worth 100 grand. So the flat that I bought for 30, I spent 30 on that flat is actually in reality, probably only worth about 50. Do you know what I mean? So instead of earning and putting an extra 10 grand value onto the property, I'm actually putting an extra 30, maybe 40 grand on it, depending on the quality and the standard. I'm going to go and um finishing it, you know what about um, what about how that shifts your goals?
Speaker 1:because you had a goal and you were moving at a certain pace. Yeah, since we last discussed, we've dramatically increased that pace in which you're moving towards your goals yeah how's that acceleration felt as you've went along?
Speaker 2:sure, it's absolutely. It's surreal, do you know what I mean? Because it's like I said, we left here. Look to the property. Unfortunately didn't work out. Next day you were in the opposite day.
Speaker 2:Look at, this deal has been put in front of me, it's hot, you can have first kick on it if you like. You know if you're interested in it, otherwise it'll be going out to other investors. So I just looked at the figures. I said done the research, I was like, yeah, this is definitely, definitely, um, a no-brainer for me, like, and then with that, I still have the money coming in, whatever from the rent.
Speaker 2:And then you're another investor like this is again just because because I'm thinking a more straight line, where I was pissing about, more or less you could say, one of your other clients. They want to sell the property. I'm, I'm lucky enough that I have the money there and I want another one that's coming out in front of me and I'm at 20 already. I was hoping to be there in four years time. But, like, when you look at this and you look at the speed of how you can get things to move, when you're looking at a more direct route instead of thinking kind of going from a to b. Oh, I have to do this, I have to do that when you can think in a more direct route and say, right, this is what I'm going to, this is what I can do if I keep my mind on this path like it's two proper days and in three months it's absolutely unbelievable so can you explain to people what you mean by your look?
Speaker 1:you're looking in a more direct line. You're saying that when you were um, you had this grand plan of getting to 20 properties by the time you're 40. That was four years away yeah we discussed that in the last podcast. Afterwards I told you that that was ridiculous yeah that we could actually do that in a matter of months. I'm not really sure you believe me, and then I showed you the mechanics of how it works.
Speaker 1:Here's the pieces. We need a shift in mindset, which we've discussed, as in the way that you're looking at is keeping you stuck in a certain way yeah and that's true of everyone.
Speaker 1:No matter on anything the attempt in life, they create resistance, and that resistance gets in the way. So what we're looking to do is explain how you can reduce the resistance in your mind so things move much more easily and much more quickly. And that's what's happened, and a goal that you had set for four years away has now materialized in three months, and that acceleration is really really quick. And it's how do you cope with that acceleration? How do you handle that?
Speaker 2:it's, um, it's. It's really, really absurd as, like what I look at before I'd be looking at, to buy a property for 30 grand, right, 30, 40,000. Spend 20 on it, spend 30 on it, get it all done up, get it looking nice and get up in the market. That's all good, but downtime. You're trying to organize guys to get it done, get furniture organized, get all the bits and pieces and look at you, you'll have it going in like three months or four months. You know if everything moves pretty swiftly, like you know because not alone that obviously the money I have to make at home, I need to send that over here to pay for the work that I'm getting done. So you know I can't do it at the same speed as maybe getting it done within three months.
Speaker 2:But so what's happening there is you're missing out on all this money and and this wasn't until literally pen to paper up on the spreadsheet where you're like, if you buy a place that you only have to spend 10 grand on the 10 grand would say 7 grand in furnishings, 3 grand in a slight refurb, maybe a bit of paint, a bit of laminate flooring. Instead of waiting three or four months for you to make money. You could actually start making money within weeks instead of months. So that was a massive, massive thing. But by doing it that way, because at least I could see, right, hang on now if I, instead of me losing out I'm gonna just go by as an example on the airbnb that I have out in dumbarton, like would say, where that meant 1921 pound last month, okay, so like, if you miss, let's say, £1,500, and if you miss three months, that's four and a half grand. Do you get me Like so?
Speaker 1:You're leaving four and a half grand on the table. Yeah, doing it the old way.
Speaker 2:Yeah, doing it the old way, you're losing four and a half thousand instead of just and it could be more. That's only like dumbing it down, like I could have missed. I could have got 1,900 three months in a row. Do you get me like that's just doing dumbing it down and saying, right, call it worst case scenario, and getting 1,500 quid? So like that is money that you're losing by thinking that you're saving money. And this goes back to the saying that people have you know, was it a penny wise and a pound foolish? Where you're, you're watching the pennies, but the pound is getting away from you. And I think that was where I was stuck, you know, before, like where I was just concentrating on the same. That's why you were getting all the same criteria, stuff where it was just like cheap properties. Obviously you get a good return. It's not that it's a bad idea, but it's just.
Speaker 1:There's definitely more better ways of doing it when you actually know and study the proper route like well, this is an example, I mean, if you compare some of the properties you've bought versus the one that we went out to yesterday. Yeah, yeah, I mean in terms of it's not a significant financial amount. In terms of you're talking the difference between paying, you know, 45 or 65, that 20 000 pounds is a lot of money, but in the scale of property purchases it's not that dramatic, because you could buy a 45 000 property and put a 25 30 000 pounds refurb on it. When you look at what you were able to get in ballack, I was able to find you something I might look for. Not a huge jump in terms of the amount you need to pay. You're getting a significantly more attractive property, and that was where the chef was really starting to go. Oh, so, rather than we buy two sort of run, down rough sort of need a bit of a kind of loving care.
Speaker 1:They need a hand. They need a bucket of love that may or may not attract the right type of person, that may or may not look after it. You can move up the market for not a lot more money but get a lot more of a result in terms of cash flow.
Speaker 2:Well, definitely like. Because even like ballack, back in galway is a little town called clifton and ballack put when I went out there and actually seen the layout of the town and everything like that, that's what it puts you in the mind of. It puts you in the mind of clifton, you know, and they get a massive like, even in the mind of it. Put you in the mind of Clifton, you know, and they get a massive like, even in the summers there, like there'd be tailbacks going into Galway, you know, like where they're going to little bottled neck towns and all that like. And it just shows the volume of people going there. Like even when we went down yesterday to look at it, there's people from Wexford. There was a brand new car from Wexford like that was there. It just shows that people are actually travelling to this area from Ireland to even see the little town, the layout of it, and it's just, it's unbelievable to see it like. It's a breathtaking town.
Speaker 1:So see, when I showed you the squiggly lines and the straight line, did that make sense to you? Of course, yeah. So tell people what that was like. Describe what you'd seen there.
Speaker 2:Describe what you'd seen there. So the squiggly lines was like, we'll say, like my old way, where I was just delaying everything. I was saying, right, I have to do this and I have to look at that, and then I need to buy the property, then I have to organise the workers and I need to. It was just putting so much more work to get the same result, but by taking, we'll say, just literally moving, a couple of things in a different way. It was more direct. So literally, buy the property, turn it around in a few weeks, get it on the market and you're pulling, like especially this one in Balloch. This one will be bringing in, I'd say, probably about 160 to 190 pound a day.
Speaker 2:Yes, it's a hot spot 10 days, 80, 90, yeah, you know, like that's six grand a month, like if things are going right.
Speaker 1:You know what I mean summer months that place is as back as an area is absolutely packed like my friend frank.
Speaker 2:My neighbor calls it a hot cake. That's a hot cake, hot cake.
Speaker 1:Um, so how you found the I mean, obviously, mindset cat is notoriously stubborn to change and people don't get it right all the time. Um, and the way I would describe it is imagine that you have. Imagine you have a. You come to a park right and in that park there's lots going on and there's loads of things that you could do, but what you need to do is get through this park as quickly as you possibly can to direct the route from the gate that you're in to the exit you want to get to, because in that exit's your result, the result that you're looking for, the goal that you want to achieve. But when you get into the park, you could go to the left-hand side and you talk to joan and you could walk up to the next bit where bob's working and get the story with him. And you could walk around the park, interacting with all the different people and all the different things in there, to get the story of what the park is all about and find out all the goings on in the park. The youth went all the way around and spent a lot of time, you know, a lot of energy, finding out what's going on in the park, but it's actually not taking you any closer to your goal, because the goal is to exit out the other side. So, really, what you want to do is, rather than going around getting all the information about all the bits and pieces in the park that don't really make any difference to your result is you want to line yourself up to the most direct route to get out of that park, to the exit, to what it is you want to achieve. And if you look down at the top of the park, the direct route would look like a straight line. It would be the shortest distance from the entrance to the exit point. Yeah, what it looked like, what we were describing was, if you go out to the right and you go out to the left, you go back to the center and you go back and you go all the way around, the park just looks like a squiggly line on the top of the map. Yeah, it's all that energy wasted.
Speaker 1:It's not directed at where you want to go yeah and it's having that ability to have someone there that can go right. Look, you don't need to go and get that information, you don't need. You just need to focus on what it is that you're trying to do.
Speaker 2:Yeah, and with that focus, that can get you a significantly faster and quicker result yeah, I definitely think like listening to the right people in the right area you know what I mean like, as you said, it might be right the way I was doing it in my own head, but, like, when you look in theory and you look at all these other people, like after, probably after I always used to look at property, uk properties. I didn't really concentrate on ireland because it's too expensive over there to get in the game like, but I always concentrate on uk and I was always watching different people, like you know. But since, after the podcast here and we're just talking, you know, I literally start looking at more videos and all these other videos are popping up like and you actually see how other people do business as well. Now, look at some of them are good, some of them are bad. You know, like a lot of them promise a dream. You know, like that we all wanted it, which is literally the end result where you're getting high cash flow every month, no stress.
Speaker 2:To an extent, there's always going to be a little bit. There's no such thing. That's invisible, that's nonsense, right? Like the Fontaine brothers, I watch them all the time. I'm always seeing your links saying look what they've done today, look what they've done tonight. You read some of the comments. People put hate speech up about them, but at the end of the day, as we watch them, on the last day and it was on a bank holiday monday your man rocks up to get things done. He looks around, he sees nobody there and then he fucking realizes you know what. It's actually a bank holiday monday, but he's still going in getting things organized, like you know, and I think one of the biggest thing is when you're involved in this game is keeping your eye on the goal. You know like to get the end result.
Speaker 2:I was watching other people on it and they're doing it in a different way. They're selling these classes, selling all these other things, and it was actually when I was talking to you about it. We were saying right, this lad has half a million, a million subscribers where he's only getting like 10,000 views and you're thinking well, if he has 500,000 subscribers, how come only this amount of people are actually taking him serious? Because a lot of the information. If you go back and watch a lot of stuff, a lot of it's very hard. It's so hard to think.
Speaker 2:You know that this can be achieved, like, where you go, you know when something sounds too good to be true. It normally is too good to be true. Or like you watch one where we're turning someone that has no money to a millionaire within a week. Like you know, like that is, look, it's possible. There's definitely there's a possibility of happening, but the reality of it is like it's. It's nearly a miracle if it could happen that easy. Where ever you know, like we're talking about the straight road, all your ducks in a row, like to get all that to come together in a week. I just can't see it so people get a misconception of this information.
Speaker 1:I think that's the thing is that the dream is sold and they don't realise that what's portrayed out there and what reality is are not the same thing. What's portrayed out there isn't really going to get, it's not going to cut it yeah, yeah, yeah so what else have you seen out there? Have you ever seen any ones where you thought that's an absolute shocker?
Speaker 2:See, as I said, I watch a lot of them and they talk about different ways of doing it. So the Fontaine brothers I said I'd go back to them. I like their stuff. They're not dressed in Armani suits going around doing deals. These ads are on the road. They're getting shit done straight away. I'm looking at their deals and their deals are fairly good. We are putting X amount of money. You're getting this much money back every month. I think if they looked at a different thing maybe have a chat with you or whatever like that they could actually change their game, get to their results a lot quicker. There's other ways of doing it. You can get actually more money out of it.
Speaker 2:And like, going back to earlier on, I was speaking about a guy that gave me a call. This guy I done work for him in his care many, many years ago. Like, don't have a number on my phone, nothing. This number rings me up. And he rang me one day and I was actually really busy, as I call me later. And he rang me the next day and he said look at, senior podcast, fucking really enjoyed it. A geo they call you geo, I call you jarred, said geo. Seemed like a really good guy, seems to be literally straight to the point. I said this sad will tell you to fuck off man if he doesn't like what he's here. And he's no, no fluffy with this guy. And he said look. He said I seen I've been over to leeds. There's a company over there. You pay them 7,800 pounds and then they find your property, they organise your mortgage and they'll manage your rent and you'll be coming out with about I think he said either 400 or 300 pounds a month after everything's paid. And I was like what do you mean? You pay them 7,800 pounds? Because one thing that people actually don't understand in this game of the property, like there's a finder's fee and so for some people it's a shock when they say what you're charging me? Six grand to find you a deal. Yeah right, that's six grand you pay. That's finding you the deal, organizing your solicitor if you need to get a mortgage, putting you in contact with different mortgage brokers. That is, you know they're not getting you the mortgage, because that's impossible. Do you get where I'm coming from? Like you have to?
Speaker 2:As I said, I've been speaking earlier on about what like for me with a person that has a national insurance number, a UTR number, paying tax, all this they'll put you in contact with these people. They'll put you in contact with the solicitor, but, like this person that you pay six grand to this is the you on the ground going out viewing the property, seeing. Is it the home report? And the property actually match. You know, match up like the last day got a home report for that property you were telling me about, said there was no security doors, there was an issue with the drain out the back, and when you landed down actually everything was repaired. Yeah, so like it was given. You know, like sometimes it'll work out in your favor where you're actually getting a better deal. But when this guy said this to me 7,800, I said like I just can't figure this out. I said, what's the interest rate? So was he buying the property?
Speaker 2:So, he was buying a property, right, but this company in Leeds was I don't even know their name now, but this company in Leeds was he was going to pay them 7,800, he told me, and they organise everything. So the first thing I said is like I was baffled. I was like what the hell? This doesn't you're only getting three or four hundred pounds. Does it include his deposit? Surely not? He didn't know how much deposit, didn't know how much interest rate, didn't know, like he said, the property would be roughly, I think he said between, I think, a hundred and a hundred and fifty, somewhere in that range. The property would be yep. But like I said, how much are you going to be paying? A month like.
Speaker 2:So he couldn't tell me how much rent he'd be receiving. He couldn't tell me how much the mortgage would be a month. He couldn't tell me anything and it was a bite to that mortgage. So I was like look what I said I. I can just tell you what I've experienced, because I'm in the middle of an application at the moment, trying to get one across the line. And um, I said, when I didn't get that, I explained to him how I was nearly had the mortgage, then I didn't get it for certain reasons. And then I was actually looking online. I looked up expats mortgages and the interest rate on an expat mortgage by tonight was 10 percent. Wow. So like you're the only person that's getting fooled, there is yourself. Like, because you're just literally getting the loan of the money for the sake of getting the money. But the reality of it is where, with at the moment, I'm using a mortgage broker called London and Country and the rate I'll be paying is 5.6 for two years, like it's. It's nearly half Like it's. It's actually like nearly half a couple of fucking percent off what he was going to if I was to get the 10% one. You know. But like, when I said to him, I said I said I think you're getting scammed here like this. Just nothing is adding up. I said you don't know how much you're paying for the house, you don't know how much rent you're going to be getting. You don't know how much you're going to be paying a mortgage. You know you don't know.
Speaker 2:And I said have you a national insurance number? He's like no. I said, jesus christ man, that's the first thing that they're going to ask you for. Is you're going to ask if you're a national insurance number and he's like I don't have one. I said, well, the first thing you do is go and get one. He said, well, I'm I meant to be going over to leeds I think he's actually over this one. He's I meant to be over leads again to um, meet up with them and whatever. And I said, look, I'm just telling you. It doesn't sound right. Yeah, you know. And then he said well, will you give me george's number? I said, look, I said I'll have to speak to george. I have his personal number. You probably give me your email and you can email him.
Speaker 2:But I said, before you do any of this, like you need to get, get national insurance number sorted, get a bank account sorted in the uk, get a few bits and pieces that you're going to need regardless. If you buy a cash, you're going to need it, because when you go it cash, you're going to need it. Because when you go to the solicitor, you need to give your national insurance number, get all the titles, get everything sorted. So it just shows that there is companies out there and there's people gullible enough to say, yeah, there's 7,800 and Just exploit them. Yeah, exploit them, because how are they to know if you're going to get the mortgage. Maybe you have subscriptions from your account that they're not happy with, maybe online gambling, et cetera, like, and they're looking at your thing and saying, right, you're earning this much money, you're spending this much money. Sorry, no mortgage, you know? No, bueno, thank you very much, much. It's not going to happen, like.
Speaker 2:So, like I'm looking at, as I said, I'm looking at all different people content I'm actually looking at. There's another lad, steven duncombe or something. He's a guy. He's invested in the uk, he's invested in the us. He's actually been in a lot of places and even looking at all the stuff he has. You know, it just shows how people do business different. But like, would I agree with everything that he does? No, no, would I agree with everything that we'll say the Fontaine brothers do? No. Samuel Eade's another very popular one. He's all over. If you literally anyone that does this thing, they'll see his ones. He does serious, serious amounts of stuff and he does some good stuff where he helped people finance to buy properties and all this. But when you look at the way, the figures and all this, it nothing makes sense it just doesn't add up.
Speaker 1:What do you make of, uh, the situation where I, you know? Take you back to the ones that I've shown you and you know, you know people are like it can't be real. Surely it's too good to be true. And I'm showing you real deals, I'm not showing you like stuff that's hypothetical. Yeah, so, even the ones that you've looked at, I'm like this is operating, this is on property, this is real figures, this is what it's doing this month, not just like, hey, look, we've seen something in the area and it might do this. We're talking about real world results.
Speaker 2:Yeah, so literally that day would have been the next day before I flew back to Ireland. We went down to one of your properties in Coatbridge. This is the one that I actually have the mortgage application in for, if I get it, with the help of God, pray for me, frank. I went down and looked, pulled down, it's actually a really nice view. It's elevated. It's looking out Some of the house around it grass overgrown a few bits like that and I'm like jeez, I wonder what this is like, with no intentions of buying it, like no even thought of it.
Speaker 2:And, um, when we went in and opened the door, like up the stairs, this flat is brand spanking new, freshly refurbed, lovely decor. Look out the window, the kitchen you're looking out on just a beautiful, beautiful flat and turn around to you and said, would you sell it? You're like, yeah, yeah, get the right money. She's up Back to your house, got the spreadsheet up from the actual online travel agencies, all the money coming in and this flat is making 2,200, three grand a month. And like, literally I think 1,800 was the lowest one I had seen in nearly I think we looked over the period of six months, right, and when I had seen in nearly I think we looked over the period of six months, right, and I turned around to you a couple of days, well, a few weeks later, and I said where's the real good spot in Scotland now to invest?
Speaker 2:Like you know, like you know, you see all these high-end investments and all this and you say well, look at this, you go down to the West End of Glasgow. You can give £900,000 or £850,000 for a flat and you'll get £4,500 a month for this flat. But I was like sounds good, but when you look at Dumbarton the one I have I'm getting £1,500. If you look at West George Street, that's making £2,200. If you look at Balloch, they're probably making £3,000. You know, like you're only looking at a couple hundred thousand pound there and I'm making more money than when I'd give nine hundred thousand pound for it. Just, it's wild it makes no sense like.
Speaker 1:This is the thing is people get stuck in their own ways of their own bias, thinking that they know what's going on or they know what's good, or just like we touched on right, your, your strategy was they make a few quid selling the cars, take the money, buy the cheapest property that you can get, sell a few more cars and maybe do a bit of work to it and then get a tenant. And it was like you know that was working for you and I was. I've said to you says, dave, look we, you know, maybe you should consider doing something that'll really really get you some results. You know, you know, you know the usual, I know I'm fine with what I'm doing, leave that to you, this is good enough for me, type thing. But slowly but surely you were like, well, just have a look at the figures then and see and check. And that was when it was even up to the point of getting your first one in Dumbarton. And we put that one on and you're like, holy moly, this thing's flying. That says well, that's the whole point of it. This thing actually does what I'm saying because we are doing it day in, day out and it's it's that shift in that sort of you need to take the leap. That is going to work. And when it does work you just think there's nothing else like it.
Speaker 1:Um, but for a lot of people they don't get there because they're not open yet to seeing what else is out there. I admit it's easy to say it's too good to be true. Well, there's a truth in the management files. The management files don't lie. You know. You go in and they are doing what they say in the tin.
Speaker 1:Versus your pal who goes to Leeds to pay you know,800 pounds to as a fee for who know what, who's what to get, who's who knows what. He doesn't even know what he's getting. But he only knows is that he really likes the noises that's coming for the guys that are doing it and that they want a few bucks to get started, which is fine. But you need to show people what it is that they're getting, because that's where you get a lot of. You know a lot of people out there are busy working, busy making their money, busy in their own businesses. There's no time to go and work out all the ins and outs of property. So it's absolutely the right move to go and get an absolute super specialist at what they do, who's got a track record, who can go look, don't buy this, don't buy that. This is what you should, and give you options, because I was giving you options and I'm like just have a look at these and see what you think.
Speaker 1:And that little increase in purchase price made a huge increase in terms of performance and it just unlocked you and we also got you to walk through the park in a straight line without finding out what Nora was doing on the bench and had Billy fed the birds that day and the dog walking around the park that you usually see, and it was like, look, let's get you in a straight line and get you right to that goal. And then you go, four years, you've given it and it's not even three months later and you've smashed it.
Speaker 2:Yeah.
Speaker 1:And that's the power of mindset. That's the power that you've been able to unlock. Now I can unlock that for you. I can absolutely do it, but it's though you can take the horse to water. The horse needs to drink it, and you were up for it.
Speaker 2:I see. So when you told me about the one in Dumbarton, as I said, it was hard to believe. I was like a fucking flat, I'm going to pay 45 grand for that. I can turn around and make. We said a thousand. That's what we were aiming for that time Low end a grand a month. So if that flat was rented out you're going to go $450 a month. So I'm doubling my rent instantly by buying this flat.
Speaker 2:So literally last year I didn't realize I'd have someone there for the Wi-Fi with the lockbox outside. This is another thing that people have to consider. You need to have people that can help you organize these things. You need to have people that can help you organise these things. And had to have someone over the age of 18 in the house for the maintenance, or what would you call them, wifi specialist, to come into the house and fit your box or whatever you had to do, and in most cases it's only literally plug it in and plug in a wire. So that was at the start of May.
Speaker 2:Now it wouldn't let me fill out the application with my Irish number, so I had to put down an English number. So I took down a number for my mate Kev, back in Armagh. So Kev's getting all these fucking text messages because I forgot to tell him I used your number for TalkTalk. So they were ringing up saying, oh, we'll be out tomorrow to fit in. He said what the fuck? He said go to fuck. He said I'm trying to get rid of you for the last two years and you keep ringing me. He's good, talk, talk. Yeah, he had it, he got rid of it, but he was two years trying to get rid of them. And now they're ringing him and they're about to fit in his new line.
Speaker 2:So then I ring him up and I say Kev, I'm not around, not around today. Give me their number. I ring them. And you rang them. They said look, can you go in? Like you know, how did you get here? I came here by a van. Was there anyone with you? No, so you managed to get on the road and you made it as far as here on your own.
Speaker 2:But you're afraid to go in and just literally fit the box and he's like, yeah, can't go in. So I was like right, nothing I can do, there's no one there. So I had to organise someone to be there. They came in and that was the 27th of May it was a Friday last year came in, fitted the box, rang him and said right, that's it done. Everything was done, pictures, all that. He put it online.
Speaker 2:At 4 o'clock. At 6 o'clock I got a text message from you on WhatsApp, a screenshot, and it was after being booked for 2 weeks, straight away at like I think it was working out about 1400 quid and I was like, for fuck's sake, man, just like that and literally, and it's been like that ever since like, so, like I said in the last podcast, it averaged out around 1,400. Like there in March I actually got no booking on it, so it didn't make a pound like, but it made 1,921 pounds just gone in April. So, like, it'll probably looking at the end of May it'll probably make another 1,400, 1,500, 1,600 pounds, depending on what comes in like. So it just shows that this is the market you kind of want to be in and this is the area you want to be in because, as I said, my friend kev, he, I rang him up when I got the wi-fi and I said got the wi-fi and got a book and send him pictures. Like, fuck's sake, that's just too hard to believe, like it sounds too hard to be true.
Speaker 1:Well it's when it's too good to be true and you show them. And even when you show them the evidence, they still can't believe it, can't believe it. So you show them the evidence, they still can't believe it, can't believe it. So how much evidence do they need to show you? How much do you need to see before you get that this is real? Yeah, before it clicks, you go oh yeah, this is how it works.
Speaker 2:But even we'll say after that. Then, like you know, he'd always say from time to time, how's it going? And I'd tell him I was like oh fuck sake, it's unreal. And in january I said to him, I said christmas, man, I'm still booked out. And he's like how the hell? He said joey said I'm interested in that. And after my last podcast he said joey said I'm going to contact george rang. You gave the heads up. You said give him the number, make contact.
Speaker 2:Three months later, kevin, I was too, bought like two going to be service partner. One's an early raid to go online. The other one is very, very, very close to being finished up, like and that that's him on the saddle straight away, like straight on. Now for him I can see like where you know. I told him the finders being bits and pieces like that, and you know I said this you have to pay this. This is not a thing. You know that there's other investors willing to pay more money to get this type of deal like. This is the thing you have to pay and it's and I, as I said, like it's very, very frustrating at the start for anyone that gets into this, because you're paying for refurbs, you're paying for furniture, you're paying for all these other things, you're paying for the management company. You need to pay, like a 900 pound registration pact, where that's? You know, professional photographers, you know, get brochures. Don't get all these things done that. These are bits and pieces have to be done.
Speaker 2:So, even like even kev said to me jesus, you know, I feel like I'm throwing out money. All the time I said, yeah, you're throwing out now, but wait, it's coming back and when it comes back, it's going to come back fast, like so anyone that does get involved. This is the real thing. Like you need, you are going to when you buy the house. Yeah, you buy the house, it's. It's not finished there. You know, now we have to get furniture companies in. Yeah, you can do it yourself, but like what we call back in Ireland is swag, swag, rubbish. You know what I mean. You buy a cheap couch. It's fucked after. You know it's fucked after a year. Or if you buy a deer couch, it'll probably do 10 years.
Speaker 2:You know like so buy right, get a proper company and get it rightly staged, get everything done really really nice. Pay the couple of quid extra. I know it's hard to pay it, but pay the extra money at the start because you're going to get you're going to be getting a way way nicer, way, way better. What would you call it? People are going to be more attracted to looking at, saying you know what, this is a really, really nice place, like anyone going on bookingcom or airbnb and they look at the property, they look at the inside of it and say you know what, this is a really, really nice little spot and it it creates traction, people start to go to it. Yeah, so for anyone that is getting started, they must bear in mind you are going to put out a nice bit of coin after you buy the house. Yeah, again, seven, eight, ten, fifteen grand, depending what kind of refurb you're doing or what way you're actually going to furnish it.
Speaker 1:But you are going to be getting and I can only speak for myself and I've seen figures for your, your own personal ones, online like the return is massive, like, yeah, massive people like, as I said, like the one of the things that we do is we don't go around bawling and shouting hey look, we're doing, you know, these amazing returns and it's this and it's that and it's the next thing, and maybe that's not the way to do it. Maybe the strategy is go out and make as much noise about what you're doing, but we're kind of like right, this is what we're up to, this is what sort of money that we're making. If you want in, then let us know. Because, remember, how did we start the first podcast? What was the very first thing I said to you? What did we miss? I said talk is cheap.
Speaker 2:Oh, talk is cheap. Yeah, yeah, yeah Talk is cheap.
Speaker 1:Everybody wants to get in on it, but it's you ready to put your money where your mouth is and that's why we do things in that way. So look, you can show your commitment and how serious you are by putting your hand in your pocket. If you've got your hand in your pocket, anybody can phone up and be like, yeah, let's have a chat and I'd love to get into it. Everybody wants to get into property. Everybody wants to make a big money. How many people are ready to put their money where their mouth is because talk?
Speaker 2:is cheap. Yeah well, this is even that lad I was telling you about. I even said to him I said, look, you have to pay this fee. I said you pay the fee. He finds a mind and, as I said to anybody that's going to get involved with which all I can speak is from you, really, in this line, but anyone that's going to get involved with you, you're not going to get something that shit because you're the one that's going to have to be dealing with it.
Speaker 2:Do you get me and, like I said to him, if he gets you a deal, believe you me, for whatever money you have, you're going to be getting the best value for your money. You know what I mean Like. So you're paying six grand, but you are going to be getting the best, the best, best like option you could get for what money actually have you know? And um, it's the what, what. What throws people off, I think, is when they look online and they see all these people, but everyone is charging a fee. If you actually contact fontaine brothers, you contact samuel leads, you contact any of these people, they're all going to charge you a fee to get to enter this game, like. But, as you said if you're not willing to put the money down, you're not serious about getting in the game.
Speaker 1:You know, and that is definitely it like yeah, and I mean, one of the things I would say is is that's if you want this done for you?
Speaker 1:yeah, so if you want somebody to do it for you. They use their knowledge. Use their expertise. Negotiate for you on your behalf. Analyze the data. Work out the right type of property. Work out the location, work out the projected earnings that it could potentially make. Work out is there anything going on in that area? Strategize how to best do the refurb, how to furnish it in the right way, how to put the whole thing together. You're paying for that entire sphere of your expertise.
Speaker 1:You can go and do this yourself and you don't need to pay a fee. I've got a property course that I sell, where it's like you can buy the course, you can go and there's everything you need to know. You can buy it one off. You can go and learn it.
Speaker 1:But what inevitably happens is a lot of people go look, this is too complicated. Can I not just pay you to do it and you can do it for me? The reason that that's important is is that, for anyone that thinks I was asked about why, why is the fee so high? And I said, well, I don't think the fee is very high. It's well, how do you, how do you work out that the fee isn't very high? And I says, well, I'll tell you a story about a property deal that went south. This is this property was up for sale for a hundred thousand pounds. It was a building, uh, on a main street. It was up for a hundred thousand pounds, big, big building used to be owned by a bank right and that property put down a twenty thousand pounds deposit to buy it.
Speaker 1:And they asked me what what it was to to take a look over the details of the property. So I had a look at the information that they'd been sent and asked about some basic questions and they bear in mind I haven't laid eyes on the property, I haven't been in the property, I haven't seen any reports of the property. So I'm going on how much they've put down, how much the purchase price is and what they've seen right. With my 20 years of experience I says I would not touch this with a barge pole. This is why this is because it's got dry rot. Dry rot will be in every timber in that building. The reason that is that this figure is because they need to attract someone that will buy it the way it is. It says this thing will cost 500 grand to renovate and the building is not going to be worth 500 grand when you do it. So you're going to buy something at 100. You put 20 000 pounds to secure it right and you've bought something you don't know how to fix. And even if you did know how to fix it, it's going to be worth the repairs and the purchase price are going to total more than what this thing's worth. So it's a dead deal. It's dead. You should leave this to somebody else.
Speaker 1:And they eventually says, look, we'll get some specialists to go and have a look at the dry rot. They came back they says, yep, your guy's right, this thing is going to be way more expensive to repair than it is and it's going to be worth. And they ended up just losing their deposit. That cost them twenty thousand pounds. Yeah, if you paid somebody six that knows what they're doing you'd have never lost that twenty. You'd have never looked at a deal that was going to be a building. It would be worth three hundred grand. That was going to cost you six hundred grand to fix, including the purchase price. Like it's that, that expertise, because it's very, very, very, very easy, very easy to lose six thousand pounds on a property. In fact, if you're going to lose money and you only lose six grand, you're doing actually okay, because you the amount that you can lose can be like there's no limit, there's no floor of what you can lose but what you said there.
Speaker 2:Now right, you said, um, about negotiations. Okay, so this is a big thing that for anyone that is interested, like to to know about this, like. So, for example, we just say most properties go here about maybe what? Five, ten percent over the the home report, you know, depending on the area. So if that flat is, we'll just throw out a number, say that house is 70 grand, you go out, you look at it, you do all your thing and you negotiate 10,000 pounds off that. So now it's 60 grand. The fee is still 6,000. Do you get what I mean? So now you have actually saved yourself 4 grand if you look at it this way, because Irish.
Speaker 1:We discussed this earlier. Yeah, we discussed this.
Speaker 2:Actually you're after saving this, because you never had to throw it out, do you get me.
Speaker 1:Yeah, you've paid six to save ten. Yeah, you save six, so you're up four.
Speaker 2:Yes, you're up four grand, so like it's a win-win.
Speaker 1:I don't think I've ever bought a property for you. That's been the right money that they've asked for.
Speaker 2:No, literally. Because going back to Balloch, actually that property was up for offers over £8,000 off the price. Yeah, kev bought a house in Dumbarton. You look at the home reports. They look at the roof. Looks like it needs roof repairs in a few years. Negotiated, I know, the £5,000, £6,000 off the price. Yeah. Then when you actually got reaped down you said, right, tell them to go to fuck £1,500 more off the price, them more off the price and they're like, oh no, we can't do it.
Speaker 2:You're like, yeah, just tell them, that's fine, forget about it. Well, two days later, ring up. Yeah, we'll turn it, we'll take the 1500 off the price. Yeah, so now there's seven and a half thousand, eight thousand pounds saved. I can't remember the exact figures, but like eight thousand pounds saved. So no, really, you haven't really paid anything. You have two grand in your pocket and you're getting a good spot. Do you know what I mean? Mean, like, these are the, these are the things where people miss out. Like, as I said, the man that'll pay 7,800 for doesn't even know what he's getting?
Speaker 1:I don't think he's. I mean that guy's paying 7,800 pounds for a pack of cards or something. I don't know what he's getting.
Speaker 2:Yeah, a pack of back. You know what I mean. Like you know, well done. The next thing I would probably say is we have a WhatsApp group, a deals WhatsApp group that there's a couple of us on and you know, like you're, as I said, you have investors there that might want to get out of the game, or you might have properties that are coming up that are literally not even online yet. And going back to that one where you were the investor, I said I just bought there now, not online, not anything.
Speaker 2:The minute I seen it, I didn't even have time to text. I not online, not anything. The minute I seen it, I didn't even have time to text. I just rang his straight away and I said put my name on that. Do you know, like? And even I see the Fontaine brothers. They do a very similar thing, where they have a WhatsApp community that people are on, they put deals on and people can contact you if they want to go deeper, like because it's putting it out there to all these other investors. Or I might see it and say you're not, show down the road, is actually looking to buy a spot, show him the picture, put him in contact with you. Know like. So having this we'll call it a community where someone's looking over you, like you're actually getting a really really good, good value for your money. It's very, very important what did you uh?
Speaker 1:did you get contacted after the podcast?
Speaker 2:when I, after the podcast, so many people rang me, like even a lad, he'd be a distant cousin of mine, he's probably a third cousin of my own like haven't seen him since. Haven't seen him since my cousin dick come back to australia. I was down in his house, just bumped into him down there. Hadn't seen him since. Nothing ringing me up jesus man, senior podcast was fucking great.
Speaker 2:Think about buying these two things. What do do you think? Like asking me for my expertise. Scotland looks serious. Man, really interested. What do you think? Another lad rings me up. Same thing. Oh, I've seen all this in the north, but, jeez, scotland looks better. Like I'm not lying to you, the amount of people that rang me was unbelievable. Text me First cousin of mine down in London. Seen it, fuck, seen it, fuck me. Man. Jesus christ, I need to ring you. I have money. I want to get this done. My uncle, fucking verner, ring me. Yeah, yeah, look, I'm pulling my money with a pension. I want to get a place in scotland. Like this is no bullshit, like this is what happened. Like it was absolutely overwhelming, like you know, to see the amount of people that wanted to actually get involved after they watched my last podcast and where?
Speaker 1:did you remember where it started? It started with dumbarton. You know. I said to to Dave listen, gonna please stop buying shit properties, please stop buying dog shit houses. Here's what to do. And he says look, I think, if I remember rightly, you were sort of like not, you weren't quite ready to buy something yet, but you were like getting close.
Speaker 2:No, that was the. I was buying one in Paisley and it just kept going on and on and I did fucking shit solicitor.
Speaker 2:Yeah, and you were like their solicitor was calling off my deal and you're like, for fuck's sake, man, they work for tips, they work for you. Don't listen, that shit. I said the best thing to do is just forget about that place. It's not for you. Like, every single time something done postal strikes in the fucking UK. After I sent all my documents off, it was an absolute fucking mess. Like the 14th of December, 14th of December 21,. They ring me up 22,. We're calling this deal off. You haven't seen the documents. I said look it, I have the tracking number. I see I posted on the 1st of November. It's not my fault that you don't have it yet. There's something to do with strikes over there or we're calling off the deal.
Speaker 2:All this, like all the challenges. I reprinted everything, sent everything over. Then the two of them land at the same time. But it was for luck. It was for luck that didn't go through. I have a great solicitor now PRP legal. Anyone that's looking for a good solicitor in Scotland? Very, very good. No bullshit. You know, when you ring them they'll answer the phone. If you send them an email, they'll call you. Just real professional people, like and like. They will tell you, like with um, with that one, that actually they were just. But what, bayliston?
Speaker 1:is it?
Speaker 2:Bayliston yeah, even with that one. I told Tracy, get in the offer, I'm buying this place. And she said look, she sees her home report, it has this. And I said look, george has actually been down there. And he said they've actually done the improvements. You know, like, where the categories were, like was it over here? One, two and three?
Speaker 1:yeah, so she said like. So the story was for the listeners the, the investor that bought this, was needing to liquidate out the property, needed cash. The property was doing really well and I'd said to dave, look, this has came up, are you interested? And you'd says, right, send me over. So we've got a copy of the home report, sent it across to you. You passed it to tracy and says listen, tracy, I'm getting offered and I'm going to buy it.
Speaker 1:The solicitor looking after you has checked out the home report and went look, there's a waste pipe. There's basically, you know, human excrement that's spraying out into the back garden because this repair hasn't been carried out and one of the other things was picked up and there was no security doors. So I says look, I'll swing by, I'll pop by and check it out. So, as I said, we took a drive down down. There was brand new doors on there. We went out the back. There was no excrement, there was a case that had been cleaned up and the repairs had been made to the pipes. So it was positive that something had actually been done. When the home reporter actually says that it was a mess. So it even turned out even better than what we thought, bear in mind, we had all the data to say look, here's what it's doing, here's the results it's getting yeah, like, we're literally looking at that.
Speaker 2:Even yesterday and it came online with g, it was transferred over to e in the end of january and from the end of january to this very minute it had pulled in just over 7 000 pounds. Yeah, do you know, like, and that is going to it's going to work out as a 60 grand investment. Yeah, crazy. And it's made that money in five months in five months wild. Yeah, it's absolutely insane, like. But, as I said, look, I'm a member of this whatsapp group where, as you call it, geo's hidden list, where stuff is getting on it before it's mainstream, other Other investors, like if anyone is involved in it. You don't want to get involved in this where you're actually seeing real deals going up like proper, proper deals where they've been scrutinized to make sure that right areas, good property, maybe need some repairs, but you know might work in your favor that you're going to get it at a discounted price for where it is Like Balloch, like Balloch, look, in that area that house I'm after buying is worth over probably £110,000, £115,000.
Speaker 1:Easily.
Speaker 2:And for a £25,000 refurb, I have to do and it'll be costing me, say, £85,000, £90,000.
Speaker 1:So you're going to get that £85,000, £90,000. We're going to be able to go in and do that refurb and structure that property property exactly how we want it. Yeah, so we're going to be able to set that place up. We're going to open the kitchen living room up. We're going to change the bedroom. We're going to shift everything around. There's a possibility putting a wood burning stove in there, which is a really big appeal. We can get everything fresh, everything new. We can have it all looking immaculate so that you know that it's getting done in a way that is going to get you the best possible result. And that's the difference where you can spot these little things. And I'm going, I'm saying, right, look, here's this property that's, you know, in the same sort of size and same sort of location, is this one that you're buying and it's selling for 110 and it's in good condition and we can go and do an absolute pinpoint refurbishment that covers exactly what we need it for, the way that we need it to be, to do in the way that is going to get the best possible result we can do that it's still going to
Speaker 1:be, it's still going to be 20 000 pounds equity. That's in your favor even after doing it. So by the time you do this, you're going to get a better result, maximize your returns and you're going to be getting a property the way you want it and you can also going to have 20 grand in equity. That's that's why you're getting the the best to do that sort of analysis to figure out what's the right type of deal for you it is just near talking about that right.
Speaker 2:As I said, I've been looking at all these other different ones and samuel leads has a podcast he does the winners on wednesday where he brings in people that have done his course, got advice from mentorship, whatever way they do it, and they talk about properties they bought. So it was these two brothers and they were mainly staying around the Midlands in England, so down around Sheffield, that area, and they're in London. Properties are in Sheffield and they're getting this house refurbished right. So they're going up and down every week. You know, just keep trying, but not every week, probably every other week. Keep an eye on things and your man's like, fuck me, man, they're smashing through this. Because the two boys were excited, like they're actually really excited seeing how quick the work was being done, paid the money, everything's done. They're all looking at it. They bought this to flip, so they bought this house to flip it. Get some some money out of it. I think they what do they call that? Buy, refinance, refurbish? Is that the term B or the BRR or whatever Buy, refurbish, refinance and rent.
Speaker 2:Yeah, so they do that right. So that's what they were doing. So they bought it, they refinanced, took money out of it and then they were going selling it. So they're up and their two brothers are looking at one and I'll never forget it like this will just show you how careful you need to be and who you get to work for when you're not around. And he's looking, he goes to his brother. He said is there not meant to be a waste pipe coming out of that upstairs? And the man's like what do you mean? He said we've turned that room into an en suite.
Speaker 2:So when they went a hole in the floor and just put the pipe into the literally just into the laminate and hooked up water, but there was actually no waste pipe coming out. So the first time you flushed that toilet it was going to flood the fucking house. Jeez, oh, like your man and these, as I said after that, they really had to get. They literally had to be hovering over everybody or bring lads themselves down. I think they were in Kent down to get this work done. So it's very, very important to have someone that is going to bring in the right people, that you know they're going to do the right kind of job where you're not going to have, you know, like I would say them, toilet issues or you're going to have damp problems, like even with that one in Balloch.
Speaker 2:You were in her own when you went to check it and you were like, look, there is a couple of damp issues Before we. I want to get a damp report done. So you ring up damp report done. You send me the invoice. You're not even putting on fucking any extra for yourself, just literally being as straight as you can be with it. And yeah, got me the best quote possible to go in and they'll knock it out in a couple of days. But even just it's very easy for anyone to pay that money. This is the house you should buy. You know, get their money over quick and next year you're left with a piece of shit where you have major damp issues. You're getting tradesmen come in that are not carrying out the full repairs on the job.
Speaker 1:I'm very, very lucky to be a part of this where I have a proper team behind me it's a team effort in terms of if you've got the right crew, if you like, if you want to pull this off, you need people like who's the players? Right? You've got your guy that wants to buy it, which is you. You've got your expert that needs to find it, which is me. You've got your team that manage it, which is like the management company. You've got the refurbishment crew that go in and do it and know what a job needs to be done, in which way, and you've got the refurbishment crew that go in and do it and know what a job needs to be done, in which way. And you've got your solicitors that you need. You've got your mortgage brokers that you need and you've got all that comes together to make one result. And then what you do is, once that result is complete, you put it out and then you start generating the revenue, and that's where the management team get that constant return. It's a team effort, and a team effort with any team after those relationships. So, like your guys that done that job, they're not going to have a relationship with them anymore. They've burnt their bridges. Yeah, what you need is you need someone like.
Speaker 1:Trust is difficult to gain, hard to keep and very easily broken. Yeah, so you don't want to have a situation where you're breaking trust, because if you get trust and you develop trust, it's it's. There's nothing stronger than that. You know you're not needing to go through and jump through hoops, because the reason that things like due diligence are a thing is because people are untrustworthy. Yeah, when you get people that are trustworthy and they're looking after you, that's when you just unlock all the, all the, the power that's within there and things like yourself and kevin, a few others that are part of that sort of top tier group where they're getting access to things that the general public wouldn't get access to. I think that's because you've developed a relationship where you're getting the bet.
Speaker 2:You're getting to see these things first yeah, well, obviously for for kev, even okay, never met, you never spoken to on the phone and he's gone for me, jimmy, like so he's taking my word, gospel, like writing them this is not going to you about. You've never met him in person, only spoken on the phone or email. But, like I'm telling them, you're going to be looking after, like you're, this side is going to do everything. Even they're, like you know, getting paid for the thing and you said, look at, I want to waste no fucking time here. You got a head, got the boys even crack on, even before they're. Even you know there's money on the table. We'll say you start getting the work done. You know, and I think that takes away.
Speaker 2:If you go back to where we talked at the very, very start, where you're like mary nor john going, or you're getting Mary to do the plaster and you're getting John to wire it, you're getting the thing. You're finding the quickest way to the exit line. You're getting out the park the quickest way, because when you're only concentrating on one person, you're only talking to one person and it makes everything move a lot quicker. Where, if you're trying to get the plaster, plaster to line up with a plumber and the plumber to line up with the thing. It never.
Speaker 2:It's very, very rare that that'll all go smoothly together and it's frustrating and it's stressful for especially someone that's not even in the country. It's very, very stressful. But to have someone that'll just go in and just do the whole thing, it takes all the stress out of it. It for like, all I can say to anyone is, when you have a proper team and you're involved in a proper, a proper, proper group, we'll say, or community, or whatever you want to call it all you have to do is make sure that you have the money and everything else will just go without, literally without a headache that's the only word I can put it without a headache. That's the thing is like people are.
Speaker 1:There's a lot of people out there that are good at making money.
Speaker 2:Yeah.
Speaker 1:Selvam Kevkin are good at making money. Do you have the time and wherewithal to go and sit and work out all the different nooks and crannies of this?
Speaker 2:thing I know sir.
Speaker 1:Remotely from another country and trying. You know it's too difficult. Well, look, if the time and effort that you spend is way, way, you're better spending that. Making money doing what you're good at, yeah, and then paying somebody you know a small fee, relatively speaking to the value of their experience. You pay them a small fee to go and tackle that for you. It should. It'll be easy for them, but it'd be hard for you. Why make it hard for you when you can just get them make it look easy?
Speaker 2:yeah, that's the way it is. Like, as I said, after the podcast I had with you, a lot of people got on to me and like we're like surely to god it couldn't be that easy. I say it is that easy, it is that simple, it's as easy as just being, I suppose, put your money where your mouth is. If your interest, put down the money, yeah, and they're like oh yeah, but I'm paying six grand. And what if they can't find a property straight away? I said he's not finding a property straight away, man. I said I guarantee you by the end of the week, if you give him money on a Monday and he goes out, more than I can give a place to you within an hour. But if he goes out he can find five, ten, twenty properties that suit your budget and he'll put them in fuse.
Speaker 2:A right look at this one here great property, great location, but maybe needs 20 grand spent on it, which are going to be getting, like you said, 20 grand equity, 30 grand equity if you do this refurb. Or we have this here which is 45 grand. That property is never going to make much more than that. But we can get in and out with a 10, 15 grand refurb and you're going to be getting your 1400 pound a month. As long as you know that when you do go to sell it in the future, if that is your plan, you're you know you're not going to earn any more. Do you get me, like, but to have that expertise where you have availability to all these estate agents that know you on a first name basis, have your. You have their personal mobile number, they have your personal mobile number and you're chit-chatting all the time to me in Ireland on Zoopla, all that flat down in fucking what they call that place where the dock is in Glasgow. It's like poor.
Speaker 1:Glasgow.
Speaker 2:Jeez, that flat couple of windows burned. That one, all right, maybe went on fire at one point. But look at this flat man, it looks fucking great. I'm going to buy it. You ring up that estate agent, he, you ring up that estate agent. He doesn't give a fuck about you or give a shit about you, as long as you're going to pay this money, he does not care. So then you buy and you're like, oh, that's great. No, I'm gonna have to fly over to glasgow and google an electrician. Oh yeah, man, no hassle, I'll go down the wire for you. Send me five grand there just to get things rolling. And he's a new mobile number.
Speaker 2:Do you get where I'm coming from? Like, these are the things that happen if you get caught being remotely. You have to be involved with a right, right team and like, this is even crazy and even me, and you hadn't even spoke about this. Now, right, because this is probably going to be a ball for you. So, frank, my neighbor, originally from nigeria, living across the road with me, this dad, he goes everywhere with me, like I have him on my garage insurance. He drives for me, we go everywhere. Right, he lives in south africa, for I think he was there maybe nine years and he was over there on holidays Well, not really holidays visiting some family of his wife because she's originally South African and he's down on Airbnb. So he's watched my podcast. He's my African hype man. He's promoted me all over Nigeria, everywhere. Man, they have got my podcast. They've watched it five, six times. His son has put my podcast and your podcast in on a school just to show that someone that had no education how they can turn around. He's done a project on it, like and it's savage, like absolutely fucking unreal. And um, he's like jesus, you know what he said.
Speaker 2:My mate, he's my neighbor, he does airbnb over in scotland, he's in and you're one. He said who owns the property and she goes. It actually belongs to a Nigerian guy. So where he's from, he's Igbo, his tribe he's down near the Cameroon area, nigeria, but the guy actually was Igbo, so he's from the same tribe that Frank would be from, you know, and he's like what kind of return are you going to get on this? And even that he made that contact for me and even I was just asking her. I said just for the. I said like what kind of return would you get and what way can you do it? So the way over in South Africa is and I suppose you can do a lot of people do it even here is where they go. They can do a rent this is the first time you're hearing this. So to rent, to rent a place in south africa.
Speaker 2:This is in santon city. It's just outside johannesburg, but it's it's not far from sueto where ned samandela was from. It's a hot cake for as frank of hot cake is in my head now, it's a hot place for tourists. So people come from europe, people come from other parts africa, australia, new zealand, river america. They go to sand and city where it's a very, very safe part of south africa.
Speaker 2:You know, like as in. You know if you're down, where frank originally went to was hillsborough, which was back in the 80s and the 90s was like this, was like 70s, 80s, 90s. This were all the the white people. When the party it was at its most, this was like premium, premium places, skyscrapers, extraordinary looking buildings. But then, when the party was at its most, this was like premium, premium places, skyscrapers, extraordinary looking buildings. But then, when the whole thing went, everything started to change and frank said this is where you get hustled. Do you get me? This is where, whatever you're looking for, you are going to get it here, like, like.
Speaker 2:When he arrived there, he had to actually put the money in his trouser because the people had rented a hotel room, sublet it to all these other different people. You were going to get robbed at night unless you put the money in his trouser because the people had rented a hotel room, sublet it to all these other different people. You were going to get robbed at night unless you kept the money on you. So Stanton City is a hot hot cake. So you'd rent it out for one month. It's 25,000 rand. So I was looking it up and it was about 1800 euro for one month, but every night that'll make two and a half thousand rand and they're renting it out for about 80 to 90 percent a month.
Speaker 2:Like you're one done the figures, your one works there. She's south african, but she actually is a co-host for the nigerian guy because he lives in I think. I don't see nigeria, maybe he's in europe or wherever he is, but she's actually the person that manages. She organized all the cleaning, all the thing, and it's great to hear how other people do it during come from like. But I used to try and I said, geez, man, that sounds really interesting. I said, will you? You know, would you give me the number? So he got me the number and I actually contact her and she'd done all the figures in it.
Speaker 2:So if you work out that you could actually take go to south africa, you know, and you have someone there that you could put 1800 quid down and you could make two grand after everything was paid. You know, it just shows that in other parts of the world there are other ways of doing it. And for Frank, like when he was listening to me and he could be with me and he would listen to me on the phone and he said, jesus Christ, you know, he said when I go to South Africa I must have a look. So it's just mad to see that there's other ways of the world that people can do Airbnb. You know it's not just in Scotland. You know for some of your viewers that are maybe in India or they're in again South Africa or they might be anywhere, you know there is other ways of doing it, like and like that.
Speaker 2:Because I'm always watching property shows, airbnb shows, all this, and I'm watching people like this English couple and they're actually living in Stanton City in South Africa and that's what they do. They actually they've bought their first property but they've been doing like literally a year's lease. So they actually take it for a year. There's no complications, there's no like with the law that's over there. If the owner decides, you know what I'm going to sell it, he can sell it. He has to sell it in a year. You know there's no kicking out the way the law is done over there, like, but it's just bizarre when you look at the ways of other people do business. It's, it's nuts. That's cool. Yeah, really, really cool, like, really cool to see.
Speaker 1:So what sort of content do you enjoy watching then, when you're like, you seem to like the hustle and the getting a hashtag deals. What sort of type of content gets you going when you're looking at these property stuff?
Speaker 2:well, look at, you probably know at this point because I'm sending them all to you. So this is what it comes up my phone now. Anything to do with mindset. Jameson washington. I've heard nearly every kind of quote he can give when he's talking about words of wisdom. You know, yeah, literally jackie chan. Any of these people that are have anything to say with mindset. That's come up my phone.
Speaker 2:As I said, I'm subscribed to every kind of property channel you can imagine in the uk, now, south africa, looking at all these and I'm like jesus christ, like it's, it's mad, so like. I remember sending you one fontaine brothers you better give me a shout out now because I mentioned them so much. I'm like a promo man for them today and I sent you even one of theirs. And you're like fuck me man, he's wearing a 700 pound jumper. I I was like what the fuck of 700 pound jumper? And when I went down and looked at it I was like yeah, montclair hoodie, 700 quid. You're like, you know they're more like why do you like? You're like why do you like this kind of you know content? Like why aren't you watching, let's say, the boys in their many suits, etc. And I was like I don't know. I just kind of feel like I can relate to them.
Speaker 2:Where they're, they're workers, like they're lads that are working. They're trying, as Frank says, they're out there trying. They're trying every day. They're trying to build a community, you know they're trying to get. I just like that everyday person that's out selling stuff, instead of seeing the lad arriving up with the Range Rover and the slacks and the tie and all the rest. I love seeing the people are just coming from from the ground up, like that's the type of stuff I like. I like seeing the lads are getting like buying houses, turning them over. You know lads are just filming themselves, just posting it, anything like that. I love seeing properties that are coming from nothing, you know, flipping them. That's the kind of stuff I'm into, like I really, really enjoy why do you enjoy you enjoy?
Speaker 2:it. I just love seeing something that maybe got a hard life, that just needed a hand. I love seeing something that's just maybe a really good property got a bad tenant in and was able to turn it into something really really good, whether it's to make a service apartment over it, a long-term lease or flipping it. I just love seeing the end result where they maybe bought it for like 50 grand in Birmingham after putting about 30 grand into themselves, and now it's you know, 160,000 pound house and they sell it and they're moving on to the next one.
Speaker 2:I do follow these ads. Another one I do follow is a guy over in Detroit, in America, so I don't know you. Where, like with america and detroit, like where, when all the riots happened back in the 60s and all this, where people were just wanted more money, they burned down section of the factories and they thought, oh, we'll burn them down, they're gonna build them up. That didn't happen. So gm chrysler, all these companies like fuck this ford, we're not, they want to burn them down. Sound, we're going to to go somewhere else. They went to Canada, they went to Mexico, so, like, where you go down, you can go down like Millionaire's Road, I think is one of them, where all these millionaires are living in massive, massive houses, like unbelievable, like something you'd see down in London. You know, really, really mind blowing houses and they were just left and they were gone derelict and there was trees growing through them and all this. And there's a guy up there where he's buying these for off, like the Detroit estate, and buying them for 5 grand and next thing you know he's throwing like 40 grand into them, turning them around, maybe changing a house that was a 6 bedroom into like a 4 bedroom flat.
Speaker 2:I love watching that stuff. I love seeing how you can take something that maybe got neglected, give it a bit of a hand, and how you can turn it into something, a different way of making money. Like even I watched a guy the last day and he bought a house and it was a shop at the bottom and an apartment on the top and he turned the bottom part into like similar to this, like a studio for doing podcasts. He rented out and the other part then he just had it like as an office and then he had the other flats it was like two real big flats at the top and he split them into four, so there were four studio flats and just showing how cleverly he was able to buy this flat it was like a house for, like I think it was like £160,000, £170,000 somewhere the midlands and he was able to convert that into what's making maybe five, six thousand pound a month. Yeah, that's the stuff I love. I love seeing that kind of love of man, love it.
Speaker 2:I love seeing other people making money. I love seeing. I watch the ones that cares. There's always ones obviously cares. I'm watching matt armstrong the latter, you know. He bought that manchester united's rolls rice there and all he's doing it. It was worth. Your man gets 700 grand for it. He went a thousand miles and crashed it and then he's after buying it and he couldn't get the parts. He ended up to buy another Rolls-Royce to scrap it to fix this one. You know I love seeing. That's what I'm saying. I love seeing the rough and tumble. I love seeing of I suppose is the right thing.
Speaker 2:Like I don't like seeing where they're at a convention. All these people are there, fucking buzzwords, everyone's shouting, you know, like america, they're running hands in the air kind of shit. Yeah, don't like it. I don't like it because everyone is all buzzed up. Everyone has thinking, oh yeah, I'm gonna go out, I'm gonna do this, and then the lights turn off and they're on their own and you know they're emailing people saying, oh look, I'm after paying 600 pound to be in your course for two days and you know no one's getting back to me. Your six in the phone is gone. It's like the lad paying the 7800. It's so, so easy to get caught. And when you're looking online and you're looking at this kind of content, it always pops up and you see where all these people are saying right, look at, I'm number one doing property, I'm this, I'm that, I'm selling this course, I wasn't, you want.
Speaker 2:Actually the last day and the lad was in monaco and he said look at, he said like I have this yacht and I have this and if you pay this much money, you'll have a. I'll fly out monaco and you can have a one-to-one with me. Okay, like, if one-to-one, then what? Like? What happens after you have the one-to-one? You know, like, like you know, rome wasn't built in a day.
Speaker 2:Like you need someone that you can actually bounce off. Like for me, and I'm in scotland now, like we'll say, invest in scotland for 99 years. I ring you. Maybe, fucking, I could ring you 10 times in one day and I might ring you five times in a week. You know, it's with different things that you know that might be coming up, or I might need to get repairs, or I might need to see something I need to get done. You know, like with the lad in Monaco. You're after paying him £12,000 for a course and you're going to be putting in a bucket and if he picks out your name, you're going to have a one-to-one with him. Nonsense like absolute nonsense. Not for you, though.
Speaker 1:Not for me.
Speaker 2:No, like even the lady, to be honest, showed this block like a. I'd say it was like a council built houses back in the 50s 60s it looked that type of place and she said I own that house. At the end, the normal Joe Soap. And actually this is one thing I'm going to mention. This is a really, really good one. You had a podcast on it. But she said I had that house.
Speaker 2:The average person. What they want to do is they want to just pay off their mortgage straight away and have that house. I refinance that house, I took the money out and then she turns the camera around and there's a brand new set of flats being built right beside the house. She said I'm after buying this. I'm after buying one of these flats with the deposit that I got from refinancing this house and it's going to make me £24,000 a year. Okay, I'm thinking this isn't fucking Manchester. There's council houses all around it and, yes, these are brand new flats. What kind of rent are these people going to be paying? Now, she didn't say if it was a short-term or a long-term let, but what kind of rent are these people going to be paying? That she has £24,000 profit after everything. It just doesn't add up. Yeah, something looks a bit strange, doesn't it?
Speaker 2:And going back to that one, where said most people, um, pay off their mortgage today. And that is one thing I will say. That was one thing that I had in my head before going back to start this conversation. I said that, you know, I had in my head fuck, mortgage is just going to buy it out, try to get whatever I can, whatever I can get for my money, whatever kind of shite it is, I'm going to buy it but it's not worth it like.
Speaker 2:So, speaking with the mortgage people, I get a fixed rate for two years of 5.6 percent. Right, I'm going to be paying. It's an 80 grand purchase, six 20 grand deposit, 60 grand for the house. I'm going to be paying 213 or 2144 a month for two years. After two years the rate could go up to like I think it's like 7% or 8%. Or I can refinance it, so remortgage it, maybe with a different company, get a lower rate, or I can pay off the balance, so I can pay the 60 grand. So that house that I buy for 80,000, 90,000 pounds, I can keep the rent grand. So that house I buy for 80, 90,000 pounds, I can keep the rent coming in and coming in and in two years time I say, right, you know what? Fuck it, I'm just going to pay it off.
Speaker 2:I have the money coming in, I'm just going to pay it off or I can go down and say, right, I'm actually going to contact another mortgage, contact the mortgage broker I'm going to use, or I'm going to one and say, what kind of deal can I get over the next five years, two years, ten years, whatever option you want to pick, yeah, so like that's why I would say I definitely wouldn't do it. Because if I could have got the mortgages and after paying out 65 grand there now with stamp duty and all that one in baloch, that's three deposits, that's exactly right, that's three properties do you get me?
Speaker 1:I know what you mean. Obviously you're the one that told me about it, but do you get me?
Speaker 2:I'm after limiting myself. This other one I'm after buying now is going to cost me 60 grand.
Speaker 1:That's the beauty of untangling the situation Exactly so.
Speaker 2:I wasn't using that because that one in Balloch, that's three deposits. The one I'm after buying there in Bayliston Is that it Bayliston, bayliston, another 60 grand, three deposits, that's six properties. Six properties that could. I know there's six properties, but then spend we'll just say quick math, spend 10 grand on each of them, 60 grand down for all the refurbs. Right, do you get me? So if you used Baloch for three deposits, then use the other one for some refurbs and some leftover. You could end up having four houses, four furnished, the whole lot and maybe bringing in 1,800, two grand a month in each one. This is the beauty of having the mortgage. Unfortunately, I haven't just got there yet, but if it happens, watch out when it happens. When haven't just got there yet, but if it happens, watch out when it happens, when it happens, exactly when it happens, watch out, because there that is. That is what will bring you from here to there.
Speaker 1:Well, that's a very good leverage, I mean, this is the thing is is you're leveraging what you have and you're using tools of leverage properly? Yeah, and that's the key difference is when you know how to use them.
Speaker 2:It's a real, a real art yeah, but getting to that industry is like if you look at the, if you look at doing a short term, let there, would you say we'll call it £500 a month and you're taking out £220 a month for your mortgage, like you are making some money, but you're looking at £3,000 a year instead.
Speaker 1:Of one repair repair one boiler wipes out your repair.
Speaker 2:Yeah, because there one in Colbridge there now that I have that's on a long term like the boiler went £13. £13 for the boiler to get in and get it replaced.
Speaker 1:Yeah, and that flat is making £410 a month so you've just wiped out three, three and a half months worth of four months, four months just gone, that just done a repair, yeah, so what's we started with your, why you were here, and that was that you came back to have these goals and the goals you'd set for four years away. And now, three months later, the goals are smashed yeah we've dialed them in.
Speaker 1:I predicted it, I said you better, you said book your flight yeah, just book a flight because I says I'm gonna see you soon I said I'm not gonna. I'm not gonna set the precedent that I'll see you in four years. I'll be seeing you in months. Yeah, and it's done. So what's what's next for you?
Speaker 2:so this is. This is the thing, see, with the, with the mortgages. If the mortgages go, obviously that's the route I'm going to be going down. I'm going to change my strategy, as you want to call it. I'm going to be changing that because, instead of just exhausting all my money into one property, I'm going to be hoping to be able to use that money, as you said, to leverage against more. And obviously, since the last podcast, even even and now we can see the type of property I'm buying I'm looking for a different type of property. I'm not looking for the ones that are. You know, you had your pyramid and you're going down and then you had this little line at the bottom of the pyramid, literally a line, which was the ones where I was looking for. I'm not gonna be looking for that type of property. I'm gonna try to to try to get the marketer sorted and go from there.
Speaker 1:Dave's referring to a part of my property courses about the property pyramid, which shows you the types of property you buy, and at the bottom was the stuff that he was aiming for, and that was that you'd buy this stuff and it wouldn't really go up much in value.
Speaker 2:You'd get a return out of it Decent return, yeah, yeah decent return, but it's never, ever going to go anywhere.
Speaker 1:And then you get the ones at the top that are never going to get you a great return but they could double or triple in price. And then you've got all the ones in between that make up the rest of the pyramid, but you are moving up the in big ways. Yeah, so it's good to see, but what's the plan next? So what's your goal for the future?
Speaker 2:See, it all depends on when they give me the mortgage. You know, and that's it Like if they give me the mortgage.
Speaker 1:It's looking good. So if they give you the mortgage, what's your plans?
Speaker 2:I've got another 20 on it, 20?, 20, 30, more by 40 there you go.
Speaker 1:There's a goal 20 more properties in the next 4 years.
Speaker 2:That's good provided everything goes well, I'll definitely have a lot more. But if I get the mortgage and I can get that opportunity to use leverage and all that, that's where I'm aiming for a million percent. It's to get that. It's that. That's where I'm aiming for a million percent. You know like it's to get that, it's just to get that. I'm nearly there, nearly nearly there. I can see it. I just need another little bit. Hopefully by the end of the week they'll have rang me and said, yeah, oh, it's good to go like what about your own properties over by back home?
Speaker 1:how are they doing?
Speaker 2:yeah, so, really, really good. So the one, the one would say that I hadn't done any gall, that when I bought that, like it was in a bad part of town, like where it was ran by Romanians drug dealers, prostitutes, everything. Like when you said, oh, where's your property? Riverside, they're like, oh, I was like why like this? Before I even knew, like Jesus, how are we going to rent that out? Like no one will go down there. It was probably one of the biggest places on a Saturday night. Like there was a road right off the main street straight in here. Like this place was hopping on a Saturday night with lads going in helping themselves for the Saturday night. Like, but no, things are moving, things are shifting. Then people are getting out, the place getting nicer. So the rent is actually is actually after dublin. So in january well, not, yeah, I was getting, would say, in january 2020 I was getting 400 a month after everything's paid. Now I'm getting 825 a month after everything's paid. So it just shows that sometimes, when you do buy in an area, what might frighten someone the the way things can shift. You know, like how things can go at loan. Or my ones are again beirut. Like people were afraid driving to this place at night. Do you know what I mean?
Speaker 2:Like I remember being on holidays 2014 and I was after buying the place and he said I said I just bought a place, not alone. He's like where is it? And he's like meadowbrook and he's like harley willow park, is it? I said I don't know. And he's like Meadowbrook and he's like Harley Willow Park, is it? I said I don't know. I think it's Meadowbrook's the address. And he looked up and he said you didn't fucking buy a place in there. I said I did.
Speaker 2:The cheapest house that was ever sold in Ireland was sold in that for five grand, was it? Yeah, like it was just people were going in and robbing the lead and everything out of the roof and they were just throwing their garbage from the roof down, goodness me. Like it was just like carnage. But like again, things have started to shift. Students are looking for accommodation, they're taking it and the rents again have skyrocketed in their life. Like when, in 2015, that house would be lucky to get 500. Like 500 was high rent in there that now you wouldn't get a place in there for 13, 1400 quid to know in 10 years, like that's massive, massive, massive, massive return.
Speaker 2:Then I'm at the airbnbs where I'm just constantly trying to make it better and better. Whatever money comes in. I'm literally just leaving it there, putting it back into it, trying to get it nicer and like, if you look at it from where I started to know it's massive, massive differences.
Speaker 1:Like I've seen some of the pictures.
Speaker 2:It's looking good oh yeah, looking lovely, like looking, looking concrete, looks nice. I love concrete. No, weasel, come up through that, you have to have the concrete like. So, yeah, no, it's coming out really, really nice. Uh, I have the main house. I have them on bookingcom, like I have the main house that's done just after putting a new porch on it, the small apartment, just after doing all the front of it all like stone.
Speaker 2:I've done stone at the front of the main house and then there's like a bigger apartment in it which there was a guy living there. He was there 17 years, 17 years. He was in there and like it was so hard for me I didn't kick him over or anything like that, right, but just, look, as luck would happen, the cleaner that cleans the airbnb for me, her friend was looking for a care. She gave her my number, we're just chatting, and she said, if you know anyone looking for an apartment, their house is split into two levels so they're living on the bottom but on the top is an is apartment that they're renting out. So I'm looking for just. All I want is one person. If you know someone, a single person. I don't want people coming and going because you know the power and the heat and is all shared and I don't want them to be abusing that, that fact and I said, fuck me, I actually have a guy.
Speaker 2:So I spoke to him. He's, he has no imagine. He lived in ireland 17, 18 years and his english is chronic. He's lithuanian.
Speaker 2:So I spoke to his daughter and I said look what I said. I'm selling a car to this woman. She has a really, really apartment. It's the same rent that he's paying me over there. So if he can go there and if he's happy, he can go. If he doesn't want to move, that's fair enough. But I said he will have to leave by July because I wanted to do work on his house and with him staying in it, it was holding up the rest of the project where I could get, you know, concrete and done, get my shingle down, get bits and pieces. It was really, really holding it up. So it worked out lovely. So I have the guy there now at the moment and he's actually we're just putting a little bit of a, putting a little bit of an extension on the front, like nothing, just to make a bit more light coming in and bits and pieces like that, but it's really, really taking shape like it's.
Speaker 1:It's unbelievable well good it touch base with you and recap and go over what you've been up to since the last episode. Yeah, it's good to see you've upped your goals.
Speaker 1:That was a that was a big, big change and, flying on the Scottish service department scene, we've got you there. The target was set, set for four years. It was achieved in three months. So that's a testament for the power of your mindset, the power of what you focus on, how you want to spend your life and what are you prepared to do to get there. You've shown up for all the mindset calls. You've been the one that's been there every time, shown up, taking part, and your results are showing that through and through, that subliminally. You don't know how much you've improved, but I've literally witnessed the change in three months of seeing you go from the way that you were then and the way that you've seen things that you're just opening up, and you've went from strength to strength. And the person that's least surprised that you've hit your goals in that time is me, because I've been, I've had the front row seat seeing how that change is taking place in you.
Speaker 1:So it's been great to hear about, uh, how that's unraveled in such a quick time, to seeing this new sort of version, new and improved, dave 2.0 that's getting after it and I'm sure your, your, uh, your buddies that were listening to the episode, I'll be even more amazed that you've spent the time in your mindset, you've spent the time in your goals, you've opened your mind to different possibilities, you've pursued them and you've got the fruits of the rewards. It's been a pleasure, absolute pleasure, having you on and going over your story, and I'm sure we'll get you on again next time. You're over to get the update.
Speaker 2:Yeah, do what's after.
Speaker 1:Thanks for taking the time to come on, and tell us all the stories and we'll see you again soon thanks, george so we hope you've enjoyed this week's episode of conversations with an investor, dave.
Speaker 1:The twists and turns continue. Just when you think that he's dialed in, he just goes up another level and another notch. That's a testament to what he's been able to do. Certainly, from my point of view, it's something that doesn't come as a surprise, because I've seen how he's developed in such a short period of time. And if you're stuck in a rut and you don't like the results you're getting, take a leaf out of dave's book. If you want a format on how to do it, then we're over there in mount mindset. We're taking people that are in reverse gear and we're showing you how to change that and get into first gear and start moving through your life. Follow the link below if you want to join our Mount Mindset community that Dave's been a part of since day one. If you like his results, then stand by for the follow-up episode after this. We're on all the social media channels, but make sure to give us a follow comment.