I booked onto this property seminar with Simon Zutshi a couple of weeks before. I’d heard good things, so was excited about going.
It has been rebranded from the BMV Quick Start to include other ways of buying property in the current climate.
The day started really well, everybody was friendly and welcoming and I soon got chatting to other investors, so it was a great networking opportunity too. Simon did the majority of presenting and he is an excellent speaker. The room was buzzing with energy and I was frantically taking notes! I was pleased that Simon talked a lot about mindset and your reason ‘why’. As I come from a network marketing background it was interesting to hear, I truly believe that your reason ‘why’ will be your main motivator – even if you have a bad day.
We were taught how to calculate the ROI to compare investment opportunities, I found this a very useful exercise. If you’ve been a property investor for many years then this probably something you do quickly in your head, but it was good for me to go through the basics. Simon then discussed how to actually find these BMV deals. You can of course buy leads from various companies, but mainly we were taught how to do it ourselves.
He then showed us how to do your research on the internet, searching through comparables. I knew most of this already but it was good to go through this again. Funding was discussed and how to creatively finance your investments. Simon discussed an interesting finance option that I didn’t know about, this was Vendor Finance, where the vendor actually loans you the money for your deposit. Doug from Henderson Ponsford came along to offer advice about mortgages.
We had a great presentation from Mark Jackson who discussed Property Options with us. He told us an interesting story about a recent house he had just done an option on where they were attacked by fleas when they walked through the front door! I guess you’ve got to do these things if you want the bargains! Mark went through the 3 different types of options – Purchase; Lease and Sandwich. This is very exciting. You get to control the property without actually buying it – so – no mortgage and no capital required!
Simon then went through how to make money by selling leads, which sounds good to me! He also went through a very tax efficient exit strategy.
All in all it was a great day and I came away with lots of ideas and some good contacts.