11 things Me & Rob have learnt in 11 years in Business

Mark Homer reflects on his 20-year journey to becoming a multi-million-pound property CEO. Hear how he started with naive investments abroad, learned difficult lessons, and shifted his strategy to focus on local houses with strong cashflows. Mark explains his role as a "conductor" in assembling teams for each project, shares current real estate trends, and advises aspiring investors. 

KEY TAKEAWAYS

• Focus on cash flow over capital growth for stable returns and safety during market downturns
• Assemble specialists for each project rather than maintaining large in-house teams
• Leverage permitted development rights to convert low-value buildings into prime real estate
• Retail properties are undervalued currently due to the rise of e-commerce
• Large-scale PRS apartment blocks are an emerging institutional investment class
• Keep debt below 50% of asset values over the long term for sustainable growth

BEST MOMENTS  

"So lots of investors are having to offload because of section 24."

“I watched them make loads of money in a very short space of time. At the time, I had a friend who maybe bought something like 97, and within two or three years he’d made about 60 grand’s worth of equity."

"I made a very, very poor investment. So I learned very, very quickly not to trust those who have a vested interest in selling me the property and to go out and do genuinely independent research to find out what something will actually rent for."

"When I started in this sector, I was very much focused on capital growth. Capital growth is sexier to a lot of people. That’s probably, in reality, truthfully, where you make most of your money over the long run."

"I also noticed on a much bigger scale that the wealthiest people in the country seemed to have made or had seemed to have invested their money into property. If you have a look down the rich list, the Sunday Times rich list that comes out every year, a lot of those were making their money from property."

VALUABLE RESOURCES 

https://www.youtube.com/user/progressiveproperty https://www.progressiveproperty.co.uk/the-progressive-co-founders/

ABOUT THE HOST

Mark has bought, sold or has managed around 1,000 property units for himself, Rob, his family and his investors since 2003. He is a system and spreadsheet geek and has developed a complex, confidential deal analyser system of buying residential, commercial and multi-let properties.

CONTACT METHOD

Email: Markhomer@progressiveproperty.co.uk

LinkedIn: https://www.linkedin.com/in/markhomer1

Facebook: https://www.facebook.com/markprogressive

Twitter: https://twitter.com/markprogressive

‘Brought to you by Progressive Media’: https://progressivemedia.uk/

Mark hosts an informal session answering attendees' questions on property investing and business. Topics covered include managing tenant arrears, using AI systems, recovering securing finance, choosing property strategies and leveraging technology to remove reliance on people. Mark provides his famous direct, no-nonsense advice, drawing on his extensive experience. The session offers valuable insights for property investors and business owners alike. 

KEY TAKEAWAYS

• Pursue former tenants with county court judgments using options like winding-up petitions to pressure payment, despite the costs involved.
• Expect Bank of England base rates to remain around 4-4.5% through 2025 before dropping, according to trading market predictions.
• Resolve cladding issues for financiers by providing EWS1 reports showing remediation works address combustible materials.
• Get multiple assessments when handling property contamination like asbestos to determine actual risks and remediation needs.
• Institute gradual rent increases for retained tenants to keep pace with market rates and offset rising mortgage costs.
• Leverage technologies like AI wherever possible to remove reliance on staff and minimise people management headaches.
• Seek out self-motivated employees requiring minimal oversight to avoid poor performance issues plaguing growth.

BEST MOMENTS  

"I issued a winding up petition on a care company...it probably cost four or five grand, but it's existential for them."

"I check our rents once a month...I look back and a block we finished two years ago...Those rents are now going up 40%."

 "When you attack landlords...then rents have to go up to a level where it works again. That's the adjustment that's taking place."

"I'm looking forward to that because apparently this can remove quite a bit of admin. I would put as much technology in as possible."

 

VALUABLE RESOURCES 

https://www.youtube.com/user/progressiveproperty https://www.progressiveproperty.co.uk/the-progressive-co-founders/

ABOUT THE HOST

Mark has bought, sold or has managed around 1,000 property units for himself, Rob, his family and his investors since 2003. He is a system and spreadsheet geek and has developed a complex, confidential deal analyser system of buying residential, commercial and multi-let properties.

CONTACT METHOD

Email: Markhomer@progressiveproperty.co.uk

LinkedIn: https://www.linkedin.com/in/markhomer1

Facebook: https://www.facebook.com/markprogressive

Twitter: https://twitter.com/markprogressive

‘Brought to you by Progressive Media’: https://progressivemedia.uk/

In this episode, Mark gives his thoughts on recent property news. He talks about current planning restrictions, ground rent problems and gives his educated opinion about the new suggested help-to-buy scheme from Jeremy Hunt.

KEY TAKEAWAYS

• Jeremy Hunt is looking at creating a similar scheme to the previous help to buy where the government helps fund houses for buyers, including on existing homes.
• The previous help-to-buy schemes were often overpriced and put lenders and the government at some risk.
• Planning is preventing much-needed house building. Until this changes we can’t tackle the housing crisis in the UK.
• There is a government consultation that has just been completed to cap extortionate ground rents for existing leases.

BEST MOMENTS  

"Jeremy Hunt is looking at reintroducing a help-to-buy type scheme”

“It was a great gravy train for the developers”

“They’re not building anywhere enough, due to planning”

VALUABLE RESOURCES 

https://www.youtube.com/user/progressiveproperty https://www.progressiveproperty.co.uk/the-progressive-co-founders/

ABOUT THE HOST

Mark has bought, sold or has managed around 1,000 property units for himself, Rob, his family and his investors since 2003. He is a system and spreadsheet geek and has developed a complex, confidential deal analyser system of buying residential, commercial and multi-let properties.

CONTACT METHOD

Email: Markhomer@progressiveproperty.co.uk

LinkedIn: https://www.linkedin.com/in/markhomer1

Facebook: https://www.facebook.com/markprogressive

Twitter: https://twitter.com/markprogressive

‘Brought to you by Progressive Media’: https://progressivemedia.uk/

Two of the most talked about issues in the country in regards to housing, are how the next generation will afford it and the impact migration and immigration are having on the housing shortage. Mark joins Nigel Farage on GB news to discuss this and the promises of house building from the current secretary of state for housing Michael Gove.

KEY TAKEAWAYS

• Michael Gove has said the government can and will override local government and council decisions around housing.
• Nigel Farage believes the single biggest issue facing the housing crisis is immigration.
• Rental increases are largely in part due to a lack of supply of housing.
• The government needs to present and show new ideas to help the lack of housing in this country right now.
• New towns are one of the solutions to the housing crisis.
• The housing planning system in this country is broken, being done at a local level it’s very political and this is detrimental to housing development.

BEST MOMENTS  

"For 2023 it’s unlikely they’ll build more than 160 thousand”

“He showed himself and the government to be more out of touch with the country and the reality”

“Rents have gone up 40% since 2016, since the Brexit vote”

“Planning is the major problem”

“I haven't seen any new ideas from Starmer”

VALUABLE RESOURCES 

https://www.youtube.com/user/progressiveproperty https://www.progressiveproperty.co.uk/the-progressive-co-founders/

ABOUT THE HOST

Mark has bought, sold or has managed around 1,000 property units for himself, Rob, his family and his investors since 2003. He is a system and spreadsheet geek and has developed a complex, confidential deal analyser system of buying residential, commercial and multi-let properties.

CONTACT METHOD

Email: Markhomer@progressiveproperty.co.uk

LinkedIn: https://www.linkedin.com/in/markhomer1

Facebook: https://www.facebook.com/markprogressive

Twitter: https://twitter.com/markprogressive

‘Brought to you by Progressive Media’: https://progressivemedia.uk/

In this episode, Mark outlines his predictions for property for 2024. He discusses the implications of the market in 2023, what he thinks will happen to house prices and rent rises as well as the multiple reasons more and more landlords are choosing to sell up!

KEY TAKEAWAYS

• For the end of 2024, Mark thinks house price falls will moderate and stabilise
• Mark believes rent prices will continue to rise throughout 2024
• There is less supply of rental properties and this is continuing along with population increases.
• Section 21 is mostly used by landlords when tenants have run up arrears.
• There is going to be a consultation taking place to split houses into two apartments which could be positive for developers.
• The government have confirmed that landlords won’t have to meet EPC rating of c in all properties by 2025. Which makes many properties more viable to property investors.

BEST MOMENTS  

"I think rent rises will continue through 2024”

 “From 2016 to now we have seen an almost double of rent [prices] in this area”

“Lots of landlords are leaving the sector because they can see the section 21 being repealed”

VALUABLE RESOURCES 

https://www.youtube.com/user/progressiveproperty https://www.progressiveproperty.co.uk/the-progressive-co-founders/

ABOUT THE HOST

Mark has bought, sold or has managed around 1,000 property units for himself, Rob, his family and his investors since 2003. He is a system and spreadsheet geek and has developed a complex, confidential deal analyser system of buying residential, commercial and multi-let properties.

CONTACT METHOD

Email: Markhomer@progressiveproperty.co.uk

LinkedIn: https://www.linkedin.com/in/markhomer1

Facebook: https://www.facebook.com/markprogressive

Twitter: https://twitter.com/markprogressive

‘Brought to you by Progressive Media’: https://progressivemedia.uk/

Mark Homer reviews the biggest property and business news stories of 2023!

VALUABLE RESOURCES 

https://www.youtube.com/user/progressiveproperty https://www.progressiveproperty.co.uk/the-progressive-co-founders/

ABOUT THE HOST

Mark has bought, sold or has managed around 1,000 property units for himself, Rob, his family and his investors since 2003. He is a system and spreadsheet geek and has developed a complex, confidential deal analyser system of buying residential, commercial and multi-let properties.

CONTACT METHOD

Email: Markhomer@progressiveproperty.co.uk

LinkedIn: https://www.linkedin.com/in/markhomer1

Facebook: https://www.facebook.com/markprogressive

Twitter: https://twitter.com/markprogressive

‘Brought to you by Progressive Media’: https://progressivemedia.uk/

Mark Homer shares the inside story of his largest and most complex commercial conversion project to date - transforming an 80,000 sq ft former Marks & Spencer department store into 99 residential units. He reveals the highs and lows behind acquiring the property, handling the intricate planning permission, dealing with the main contractor going bust halfway through construction, and stepping up to build it himself.

KEY TAKEAWAYS

• Mark acquired the M&S property once he confirmed a national retailer was interested in the ground floor space. This substantially reduced his risk and unlocked the opportunity.
• After his initial main contractor went bust, Mark set up his own building firm and hired the existing site manager and subcontractors. This saved significant cost and gave him greater control.
• Strong health and safety processes including regular independent audits were critical for managing risks during construction. This documentation also proved invaluable when scrutiny arose.
• Gradually gaining experience across different commercial conversion projects enabled Mark to handle a development of this scale. It's not advisable to dive into a huge site as your first project.
• Doing the project himself rather than using a main contractor saved around 20% of costs (£2 million) and eliminated variations which can be painfully expensive.
• The building qualified for a government-backed bond which provided exceptionally low long-term finance to hold the flats. This rewarded his ambition and enabled him to retain ownership.
• Mark always seeks creative angles to de-risk acquisitions and reduce base cost. This might involve creating optionality around alternative uses, or leveraging tenant demand

BEST MOMENTS  

"Just graduate your way into it. I don't subscribe to this view of oh, it doesn't matter how big it is you can just dive straight in from day one on a massive project because you know you'll make a lot of mistakes and they'll be magnified on a big site"

"By doing it myself, I think we saved at least £2 million So, that was worth that. It's about 20%? Yeah, probably. A little bit more? Yeah. That's interesting."

"You really need to buy the whole building to make anything work"

VALUABLE RESOURCES 

https://www.youtube.com/user/progressiveproperty https://www.progressiveproperty.co.uk/the-progressive-co-founders/

ABOUT THE HOST

Mark has bought, sold or has managed around 1,000 property units for himself, Rob, his family and his investors since 2003. He is a system and spreadsheet geek and has developed a complex, confidential deal analyser system of buying residential, commercial and multi-let properties.

CONTACT METHOD

Email: Markhomer@progressiveproperty.co.uk

LinkedIn: https://www.linkedin.com/in/markhomer1

Facebook: https://www.facebook.com/markprogressive

Twitter: https://twitter.com/markprogressive

 

‘Brought to you by Progressive Media’: https://progressivemedia.uk/

Join Mark as he explores the common debate between renting and buying a home in the UK and talks about why home ownership is still a good option. Mark also talks about recent tax changes, including Section 24 and increased stamp duty, impacting the property market. Mark contends that these changes contribute to a shortage of rental properties and increased rents. Gain insight into the current property market dynamics, including falling prices due to higher interest rates and what this could mean for property investors.

KEY TAKEAWAYS

• Tax changes have made the cost of living more expensive for tenants and homeowners.
• The increase in rental prices is due to landlords leaving the market.
• You find a way to manage law and legislation changes, regardless of how big an impact you first think they will make, there are always solutions. just as Mark found when section 24 first came in. 
• Think creatively about how you can invest in property, Mark lived with his mum in order to save to invest.
• It is better to invest money in properties rather than buying your own home
• Homeownership is still better than renting in the UK. It's best to see it as a long-term investment, regardless of what the property market is doing.

BEST MOMENTS

"Is it true that you had ten investment properties and still lived with your mum?"

"There's a severe lack of rental property because the planning system is broken and because of Section 24 and because they've put the stamp duty up to higher rates of 3% on top."

"Clearly, interest rates going up, yes, but a huge amount of it is landlords leaving because of all this stuff, less rental property."

"Rents are just going absolutely nuts off the back of this."

"If you're only going to stay in a year or two, it's definitely better to rent."

"You just need to sort of adapt, don't you, to adapt your business, you know, an issue comes along, you just set the sail of your sailing boat to take advantage of the new direction of the wind."

 

VALUABLE RESOURCES

https://robmoore.com/

bit.ly/Robsupporter  

https://robmoore.com/podbooks

 rob.team

ABOUT THE HOST

Rob Moore is an author of 9 business books, 5 UK bestsellers, holds 3 world records for public speaking, entrepreneur, property investor, and property educator. Author of the global bestseller “Life Leverage” Host of UK’s No.1 business podcast “The Disruptive Entrepreneur”

“If you don't risk anything, you risk everything”

 

CONTACT METHOD

Rob’s official website: https://robmoore.com/ 

Facebook: https://www.facebook.com/robmooreprogressive/?ref=br_rs

LinkedIn: https://uk.linkedin.com/in/robmoore1979

 

‘Brought to you by Progressive Media’: https://progressivemedia.uk/

Mark reflects and gives his thoughts on a selection of news articles in this episode including focusing on the row between Nigel Farage and Alison Rose, wage growth and inflation. Mark also talks about the current housing crisis and what he thinks will happen in the medium and long term.

KEY TAKEAWAYS

• Alison Rose gave private information about Nigel’s banking details to a BBC journalist, Nigel has won against her in court.
• Next year it is predicted house prices will continue to fall by around 4%
• Most indicators are showing the base rate of interest will go back down to 1.7% by 2027
• This year has seen the biggest price reduction in November since 2017
• Growth comes from entrepreneurs and businesses, this is what the government needs to focus on to promote growth.

BEST MOMENTS  

"Anybody that decides to go up against Nigel Farage is usually pretty foolish”

“Savills is declaring the UK housing market is past peak pain”

VALUABLE RESOURCES 

https://www.youtube.com/user/progressiveproperty https://www.progressiveproperty.co.uk/the-progressive-co-founders/

ABOUT THE HOST

Mark has bought, sold or has managed around 1,000 property units for himself, Rob, his family and his investors since 2003. He is a system and spreadsheet geek and has developed a complex, confidential deal analyser system of buying residential, commercial and multi-let properties.

CONTACT METHOD

Email: Markhomer@progressiveproperty.co.uk

LinkedIn: https://www.linkedin.com/in/markhomer1

Facebook: https://www.facebook.com/markprogressive

Twitter: https://twitter.com/markprogressive

‘Brought to you by Progressive Media’: https://progressivemedia.uk/

Car hire and leasing can expensive and getting out of a contract early can be difficult especially if you don’t know what type of contract you’re entering into. In today’s episode, Mark dives into the details of car leasing, contract hire and PCP contracts and explains the most cost-effective way of controlling, owning or renting your vehicle. 

KEY TAKEAWAYS 

• Contract (leasing) hire - the term contract is interchangeable with leasing and is a fixed agreement, usually 24,36 or 48 months and you are expected to fulfil the contract. Essential the monthly payment has been calculated over many months. Therefore if you’re looking to end the agreement early you will usually have to pay 50% of the remaining rentals if you’re looking to give the car back early. The disadvantage of contract hire is that they are not particularly flexible. If you’re concerned about ending your contract hire seek advice from the supplying dealer or credit broker to offer a shorter agreement.  
• PCP (Personal Contract) Hire - At the end of the contract you either pay the remaining value of ‘balloon’ payment, you sell the vehicle or you return it. Should you wish to end the agreement early the common agreement is to pay 50% of the remaining rentals or return the vehicle to the finance company. With PCP you are able to enter into a process called voluntary termination giving you the option to return the vehicle to the company when you’ve paid 50% of the amount payable or more. This can be referred to as the rules of halves and thirds.  
• Many car lease agreements have a buy-out option and will usually credit a percentage of the lease payment towards that purchase and is commonly least expensive way of getting out of a car lease. In order for it to make sense the resale value of the car needs to be equal or more than the buy-out value of the car. However, if you’re looking to get out of your lease so that you can purchase a new car be careful re-entering into another agreement especially with the same dealership as they will roll over outstanding payments on your old agreement into a new finance agreement.  

 

BEST MOMENTS 

• “With a contract hire You will usually have to pay 50% of the remaining rentals. From my experience, they will try to make you pay all of them.” 
• “Car dealers love nothing more than for old customers to come back in and purchase a new car as they will make money on the old sale and the new one” 
• “Get everything down on a spreadsheet to work out the total cost to get in and out of these leases” 
• “Focus on the P&L and APR before purchasing a car” 
• “Dealers love talking about monthly payments” 
  
  

VALUABLE RESOURCES 

• Centralleasing.com
• Appliedleasing.com 
• Leasing.com 
• Freedomleasing.com

ABOUT THE HOST 

Mark Homer is an entrepreneur investor.  He has worked with investment since he was 15 years old using the laws of wealth! He is a spreadsheet analyst with an impressive following from major publications including BBC Radio, The Wall Street Journal, The Independent, and co-authoring the UK’s best-selling property books.  Mark has always looked for the best investment vehicle, and at the end of 2007 with Rob Moore the co-founder of Progressive Property his joint portfolio produced more profit than any of the other investments he’d tried in the last ten years, combined.  

CONTACT METHOD 

• Email: Markhomer@progressiveproperty.co.uk  
• LinkedIn: https://www.linkedin.com/in/markhomer1  
• Facebook: https://www.facebook.com/markprogressive  
• Twitter: https://twitter.com/markprogressive  

‘Brought to you by Progressive Media’: https://progressivemedia.uk/