Manage episode 280637657 series 2342628
Have you been wanting to get into property for a while, but wondered how many people are successful? Join host Kevin McDonnell as he talks to Ben Brand, a Progressive Property trainee who found success in serviced accommodation after attending a Progressive Property event. Together they discuss the ins and outs of serviced accommodation, how to utilise social media as a marketing tool and why now is the perfect time to invest in property.
- Serviced accommodation is a disruptive yet simple property investment strategy. When investing in serviced accommodation you can provide a service that massively undercuts the hotels as a better value product. If you are a contractor and had the option between paying $50 for a hotel or $25 for a nice house, it becomes a no brainer.
- The basic premise of serviced accommodation is you take a house or an apartment and you provide a hotel-like service. Essentially, somebody can rent the property off you by the night and you will provide basic services.
- The basic business consent in rent to serviced accommodation is that you rent a property for a fixed amount and then re-rent the property on a nightly basis. You can charge a far higher amount over a month. Anything between your fixed costs and the overall gross turnover you make is your profit margin.
- Marketing your business through social media will allow you to scale your property business. Social media is essentially free, to begin with. As you grow you can start to utilise paid adverts but until then you can market your business for free via your smartphones. Social media allows you to create a community, meet new people and create a lot of new opportunities.
- Now is a good time than ever to get into the property market. Getting into serviced accommodation in the current property climate and the idea of long term guaranteed rent is compelling to many people. First and foremost you need to get educated in property strategies. There are tonnes of opportunity out there.
- Many people are worried that they are not right for property investment. Everyone has something unique about them that they can use as a strength. Focus on the positives that you bring and then look at the risks. You only get one life and whilst it may be intimidating to begin with, the risks of not doing it in the first place greatly outweigh the risks of going ahead and trying it. If you show up enough times, you will eventually get what you want.
“If I can make that by accident, imagine what I could make if I did it on purpose?”
“When I started to post on social media, all I was doing was telling my story and that just seemed to resonate with people and draw people in.”
“I get approached by three or four new investors every single week”
About The Guest
After twelve years in the army, Ben decided to venture into the world of Property after reading his first property investment book “No Money Down”. Ben attended his first property event in May 2012 and left feeling inspired. After attending multiple property training events, Ben settled on Serviced accommodation as his strategy.
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ABOUT THE HOST
Kevin McDonnell is a Speaker, Author, Mentor & Professional Property Investor. He is an expert when it comes to creative property investment strategies. His book No Money Down: Property Invest talks about how to control and cash flow other people’s property to create financial freedom.
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