Why You Should NEVER Pay off Your Mortgage Early: A REVISIT

A revisit of Mark talking through property news headlines including why UK rental prices have continued to increase despite government measures. Mark gives his thoughts on proposed rent controls being introduced in Wales, the impact of current rent controls in Scotland and why the UK does not offer value for money in renting properties. He also reveals the many other reasons behind the current rental crisis in the UK. KEY TAKEAWAYS 50k rental properties are needed to meet the demand in the UK Rent controls do not work. In the 60s and 70s, this was proven and it is being proven again. Rent control reduces the rental stock and pushes prices up, it also impacts the country's labour market as people cannot move around easily. People in the UK live in smaller homes than many other countries including France, Germany and Japan. Planning is extremely slow in the UK, this impacts the speed at which properties can be developed. Women in the UK are having fewer children than are needed to sustain the workforce which means immigration is heavily relied on. BEST MOMENTS  "For the 17th consecutive time, the price of renting in the UK has gone up”  “Rent control doesn’t work” “It will reduce the quality and selection”  “Reduce the cost of childcare and get women back to work” “It’s stealing off a section of society and it’s not right” 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: [email protected] 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 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: [email protected] 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 revisited episode episode, Mark shares his thoughts on how to teach and motivate children to invest in property and be successful. There are tips on how to get a mortgage, what types of property to buy, how to rent your property, what you need to know about taxes, and the secret strategy that could allow you to obtain a house for free! 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: [email protected] 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 gives a news review, focusing on Rachel Reeves plans for the October budget and what he thinks the rest of Labour's plans will be for the UK. Mark also talks about the voting share from the election, UK rental affordability and the impact the continued drop in interest rates is having on the housing market.  KEY TAKEAWAYS Labour already knew the financial situation but they are now behaving like they didn’t, revealing the drastic measures they may take.  Labour will likely look to change inheritance tax and pensions to try and ‘fill’ the gap in finances. Only 20% of the population actually voted for labour. This outcome is really about the conservatives performing so badly. The government’s control over the sentencing of rioters is concerning, they shouldn’t be able to have this much direct impact on the sentencing of individuals. Rental tenants are paying 70% of their income on housing in the UK. This is a direct consequence of the changes made by the previous government, that impacted demand and mortgage rates.  Interest rates are continuing to go down, which will cause more people to buy houses rather than rent, this can already be seen by the slowing growth in the rental market.    BEST MOMENTS   "They’re saying capital gains tax should be the same as income tax, which of course is not right” “I think she is probably going to try and get most of the bad news out this autumn” “I think they will repeal the section 21 which will make it harder to evict tenants”   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: [email protected] 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 talks about the current state of the financial market, housing policies, and UK politics. From unsettling economic data to proposed changes in landlord regulations, Mark discusses the latest news and updates relevant to property investors and entrepreneurs in the UK right now.   KEY TAKEAWAYS  Financial markets are unsettled due to worsening US economic data, this could lead to interest rate drops of around 1% in the US by the end of 2024, with the UK likely to follow suit. The UK government is considering French style hardship tests for tenant evictions, potentially banning evictions if renters are found to be worse off, which could lead to stricter tenant referencing and higher rents. Labour's promised "biggest house building program in Britain for two generations" is met with scepticism, as similar promises by previous governments have failed to materialise due to lack of resources and planning reforms. Rent prices in the UK have hit record highs, with the average rent outside London reaching £1,314 per month, driven by a lack of supply and increasing costs for landlords due to regulations and taxation. The Labour government's first month has seen a short honeymoon period, with concerns raised about potential tax increases and the handling of recent protests and riots across the country. Mass immigration is a significant concern for many UK citizens, with over 700,000 people entering the country on a net basis in the last 12 months, putting pressure on housing, schools, and public services. Mark criticises the Rwanda deportation, it feels like the plan was a "scam," especially after Dominic Cummings' revelation that Boris Johnson knew it would never work due to ECHR constraints, despite allocating £10 billion to the project.   BEST MOMENTS   "I studied economics. The first module I did was the supply and demand curve. It's very, very simple. If demand remains the same and supply reduces then price has to go up and that's what's happening to rent." "About 6% of the land in this country is built on 57% is agriculture and 35% is natural or semi natural land. So, you know, do we want to get rid of all the farms? Absolutely not. Do we want to produce food? Absolutely." "What happens is on a flat that ordinarily might have been rented for £800 and you've got an old tenant in there maybe paying £650 because they're on a, some sort of protected tenancy or rent control or whatever that property comes back on the market, it might rent for £1400, £1500, £1600." "I think a lot of the sort of levelling up fund was marketing. I think there were a lot of sort of gimmicks in there." "I think if Starmer really wants to gain credibility over some of the core issues that are going on at the moment I think he needs to find a genuine solution to stopping boats and remember the boats are only 30/50,000 people a year, reducing legal immigration, which is probably a bigger problem." 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: [email protected] 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 revisits a previous episode this week and discusses one of the questions he repeatedly gets asked, whether it is worth using additional cash to pay off your mortgage or if it is better to invest it elsewhere? Join Mark in this episode to hear his thoughts and answers to this common question.   KEY TAKEAWAYS If you are even slightly disciplined you should not pay your mortgage off. If you are worried about interest rates then look at fixed rate mortgages. If you can invest your cash somewhere else, you will earn more back on that lump sum than you will be paying in interest on your mortgage. Property is still by far the best investment opportunity particularly in terms of lending from banks; they will always give you a great interest rate on anything you borrow. BEST MOMENTS “Why would you want to pay of your mortgage if you can get consistently good returns by investing in your isa and getting much much higher investment returns”   “You’ve got to make your money work for you, no one else will look after your money like you do”   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: [email protected] 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 and Kevin dissect the recent UK general election results, exploring potential impacts on property investment, economic policies, and the future political landscape. Mark also shares his thoughts on navigating the changing market, seizing opportunities amidst current challenges, and adapting investment strategies. KEY TAKEAWAYS Labour's victory was significant but not as large as initially predicted, with the Conservatives performing better than expected despite their worst result since the 1830s. Interest rates are expected to start declining in the second half of 2024, with a gradual decrease over the next 3+ years, potentially settling between 2-3%. The property market is likely to see an uptick once interest rates decrease, as incomes have risen and house prices have rebalanced, creating opportunities for investors. Buying properties through limited companies offers tax advantages, allowing full mortgage interest to offset against rent for tax purposes. Nigel Farage's presence in Parliament could bring attention to landlord issues and hold the Labour government accountable in an entertaining manner. Labour's large majority may lead to internal conflicts between centrist and left-wing factions, potentially complicating legislative efforts. Successful property investment requires focusing on a specific area, building local contacts, and adapting to market changes rather than using a scattered approach across multiple locations. BEST MOMENTS   "Do not wish for no problems, wish for the ability to handle bigger ones. And there will be some great stuff that comes out of the new election." "I think there will be huge opportunity. If there's a big shift, there will be huge opportunities." "You've got to take action, and get in an environment where you can learn. You need to be devouring books, courses, videos. Being around other property investors who have found a way to make money out of a new world, a new environment." "I always say to people, do not wish for no problems, wish for the ability to handle bigger ones." "We're making more money than we ever have out of our properties, at any point over the last 20 years, because we've changed and taken advantage of all these things and utilize them." 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: [email protected] 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 has read through the main political parties’ manifestos, and in this episode gives his thoughts on everything from Labour’s spending promises and Green’s 1% wealth tax to The Reform Party’s proposed 45% NI for foreign workers. He focuses on the parts of the manifestos that will be important for those in property, investing and small business owners. Mark also talks about the issues politicians need to focus on to bring the country out of debt and stimulate growth.  KEY TAKEAWAYS Labour’s spending promises are actually lower than the conservatives. However, there is nothing much about planning or property legislation. Immigration has hit 750k so the Conservative’s promises around this haven’t been kept. The Green Party are proposing a 1% wealth tax, these kinds of tactics haven’t worked in other European countries such as France, and they don’t lead to the effect desired. The country's debt is impacting growth but none of the parties have focused on it in their manifestos. There are more working-age people on benefits and out of work than pre-covid. This needs to be tackled by all parties The first time buyers schemes will likely be extended and the upper values increased to keep in line with the market.   BEST MOMENTS  "I think the older you get the more cynical you become” “I do believe lots of people will up sticks and leave”  “We have debt levels of nearly 100% of the size of our economy, it is unsustainable it needs to come down” “Do I think we will ever return to the EU? Yes I do” 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: [email protected] 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/

This episode is taken from the recent property network revolution event, where Mark takes questions from property investors and business owners. Mark answers questions on the current political climate and what this might mean for the economy, the property market and entrepreneurs and businesses. KEY TAKEAWAYS Labour still has a lot of left wing MPs in the party, convincing them to vote in more centrist policies will be a challenge for Kier Starmer. Whilst labour may now increase national insurance of income tax, they will find ways to stealth tax. Look at post war Britain, prior to Thatcher, shows the problems with rent controls and we are starting to see these issues again with the controls that have been brought in with legislation in Scotland. One way the country could help tenants and landlords and begin to solve supply and demand problems in housing is by reforming the planning system. Local planning regulations, with zones and permitted development within these would speed up planning processes and consent Whilst it may not be popular, someone in politics needs to make some tough decisions around planning and development so we can solve the housing crisis.   BEST MOMENTS  "He’s not Jeremy Corbyn is he” “The conservatives have done an appalling job for too long” “I would reform the planning system in a huge way” “Someone will balls needs to actually do it” 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: [email protected] 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/

With the recent election announcement, Mark talks about what he would change in government if he were the housing minister. 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: [email protected] 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/