We speak to Rob Moore & Mark Homer, founding partners of Progressive Property Ltd, about the business and the ever changing market.
How did it all start?
Back in January 2007, Rob and Mark both put £200 in a bank and built one of the UKs most prolific Property training companies, when many other companies had gone bust. Having trained over 100,000 people at live events, they hold the large Property specific conferences with guests such as Bob Geldof, Lord Sugar, James Caan & have been asked to appear in The Secret Millionaire.
They are also authors of "The 44 Most Closely Guarded Property Secrets" which became a Property Best Seller. This was followed by "Make Cash in a Property Market Crash" which also hit the UK Property best sellers list.
Has the market changed much since 2007?
Mark: Anyone who has been investing for a good few years will know the current property market is a very different place to how it was a few years ago. Mortgages are tough & scrappy but rents & yields have significantly improved.
Rob: Novice investors have disappeared & current investing requires investors to do things very differently, with new strategies, new methods and new processes. This actually gives new investors an advantage over tired, old investors with more experience. Investors are now buying for cashflow with a view capital appreciation will be the icing on the cake, and using JV partners more than banks.
Since entering the market, what has been the biggest challenge you’ve faced?
Mark: As experienced investors who have ridden the storm of the credit crunch & the recession and have survived being denied access to bank finance because of our experience has needed some re-adjustment!
Rob: As a result, buy to let in its current form works well by utilising non conventional finance. Access to Joint Venture [JV] and Private Investor [PI] finance has never been as liquid, and new cashflow models have evolved because that is what people need right now.
What advice would you give to anyone looking to start up in the industry?
Mark: The property finance market is changing all the time with new products coming onto the market and some products being withdrawn. The main thing is to get a list of all the risks involved which any prudent investor should be aware of before they even start considering or expanding their property portfolio
Rob: It’s a fantastic time to buy property, as prices are a lot cheaper and much of the competition just isn’t there. JV partners are more ‘motivated’ to lend out their cash on less onerous terms than a banks, and early movers will take advantage of new evolving cashflow strategies.
How can Progressive Property help?
If you want innovative, vanguard and thought provoking insights and knowledge about property investing and building a recurring, multiple income strategy business around it then visit: http://www.progressiveproperty.co.uk or ring 01733 898557
What shirts do you wear?
Where was your last holiday?
Mark: Meribel Skiing
Rob: I hate holidays!
What’s your favourite night out?
Mark: Dinner at a Michelin restaurant
Rob: 9 holes on the Golf course before dinner on our patio with my partner and baby son