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The New Era Property Podcast

Written by: Rick Gannon / Lorraine Gannon / Sam Lawson
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  • Summary

  • Hi - we are Rick Gannon, Lorraine Gannon and Sam Lawson. We are property investors focused on creating a legacy for our family and creating wealth for our retirement. Having achieved huge success in our own property portfolios, we now help others to do the same. We give back, as others before us, shared their insights and learnings about property investing. New Era Property Training helps you and your family help the housing crisis in the UK, whilst creating an income for you and your family to enjoy financial freedom. Rick is the best selling Author of Number 1 best seller property books; 1. 45 Ways to buy property 2. House Arrest 3. The Property Millionaire Method (Co-authoured with Lorraine Gannon). Both Lorraine and Rick are Mentors for Peter Jones Foundation (from BBC Dragons Den) Sam is a multi-million pound portfolio owner. Sam has built his portfolio on the back of lease options and is an expert in them. In our show we interview some very inspiring people that have achieved great things through business and property, and chat about current property topics. Remember its not all about lamorgunins but about the time property can buy you to spend doing the things you wanted to with your partner and family. If you like the podcast please don't forget to leave a review. You can Purchase our Books on Amazon Kindle - Paperback or Audible by clicking the below link. https://amzn.to/3Gybx21 You can learn more with our flagship property training academy https://www.newerapropertytraining.co.uk/vip-academy
    Copyright 2024 The New Era Property Podcast
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Episodes
  • Where on Earth Do I Start In Property?!

    Where on Earth Do I Start In Property?!
    Jan 7 2023
    Welcome to the New Era Podcast! In this episode, Lorraine Gannon and Sam Lawson will be discussing the practical aspects of running a property business. They’ll take a closer look at Selective Licensing, reviewing whether it’s just a money-grab for landlords or if it actually does make improvements to rental housing quality. Additionally, they will introduce a great resource for managing properties and tenants that can save you time and money. Finally, they will address some of the most common questions from those new to property investment. The podcast’s theme is “Where On Earth Do I Start?!” so get ready to kickstart your property journey!We start with today’s news article, in which landlords are slamming Liverpool’s shockingly slow licensing application process. At the current rate of processing, it will take a staggering 150 years to process all applications received thus far. Is this fair to property owners in the area? Tune in to today’s episode of the New Era Podcast for an insight into the issues and an analysis of what this means for property owners in Liverpool and beyond!Full Article here - https://www.landlordzone.co.uk/news/landlords-slam-liverpools-shockingly-slow-licence-application-process/Then we move on to tackle some of the most frequently asked questions from those looking to make their first property investment. Together they answer questions such as whether it’s better to invest in personal or company name, if a BTL mortgage is needed when residential rates are cheaper, how to stay on top of document renewals, and much more. Additionally, they take a look at how much time goes into managing rental properties and the importance of capital growth versus cashflow. Finally, they offer advice on how to decide if being a landlord is the right fit for you. There's some really helpful thoughts in this section that'll benefit experienced and new landlords alike.Now each episode we try to share with you a free (or very affordable resource) to sign the session off - partly sharing tools we love but also as a thankyou for listening along! This episode’s resource is pretty close to home - we actually mentioned it in passing earlier - but it’s GoTenant!So, GoTenant! Was created by Rick Gannon as a one stop shop for all of your property and tenant management leads - designed by a private landlord with similar business in mind. So what does GoTenant! Actually do? It’s a property management system that covers everything that you need in order to manage your properties such as - document renewal reminders, maintenance reporting, being able to share this information with your team. BUT it also has everything that you need to manage your tenants and tenancies - booking viewings, tenant onboarding, e-signatures for contracts, communications, auditable trails, rent tracking and it even integrates with Xero’s booking keeping platform! All in one place!You can find Gotenant! At gotenant.co.uk and best of all they offer a free 1 month trial! This’ll give you a chance to get on the platform and take it for a spin before deciding if it’s for you!We hope you've enjoyed today's episode and please do like, subscribe and share it with a friend! We'll look forward to seeing you on the next episode!
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    32 mins
  • How To Lose Money In Property!

    How To Lose Money In Property!
    Dec 23 2022
    Welcome to today’s episode of the New Era podcast where we discuss all things property and hopefully share some tips and ideas on what to do – and what not to do! Today' episode is called How To Lose Money In Property! In which we'll be discussing the main ways in which we've seen investors lose money in property in the hope we can all learn how not to!Presented by Lorraine Gannon & Sam Lawson we'll be taking you on a tour of all things property today! Today we’ll be talking about;A fantastic (& free) resource that you can use to buff up your knowledge on all things planning related!An updated forecast for what’s going to happen in the property market in 2023And we’ll be diving into today’s main topic of How To Lose Money In Property - sharing some of the main ways in which we’ve seen people lose money in property so hopefully you can avoid making the same mistakes along the way!Sounds like we’ve got plenty to talk about so let’s start with our news story…  News Story This week's story comes from Property Industry Eye - its a prediction that house prices are due to drop by at least 10% in 2023 - full article here!https://propertyindustryeye.com/uk-house-prices-predicted-to-drop-by-at-least-10-in-2023/  We’d love to know your thoughts on this, are you seeing pricing start to drop in your areas? Or the opposite? What’s your forecast for next year? Value Give So, today’s hot topic is “How to lose money in property” - we’re going to be looking at some of the key ways in which people generally lose money in property investing! I think we’ll take it in turns and let’s do 2 eachSam's First One;Under-estimating refurbishment costs - This has to be at the top of my list for places where people go wrong and can get themselves into trouble. Most of the time this is down to not being willing to do the leg-work to get meaningful quotes - often investors walk around a property and pick a number from thin air. This rarely takes into consideration the specification or how quickly the work will be required to be done. My best advice on this is simply don’t be afraid to do the work to get meaningful quotes & try to have a clear idea of the cost of going over schedule - the cost of your bridging finance, council tax, utilities, lost rent, opportunity cost etc. etc.Lorraine's First One;Buying properties with too low a yield - In our portfolio & training company, you’ll see we have a bias towards high-cashflow strategies. The reason is that it’s entirely possible to purchase a property at a reasonable price, refurbish it and rent it out for - let’s say - £1,000 per month - and then when you refinance be disappointed with the actual net amount of money you receive each month.The three main factors (generally) in this are 1) the amount of rent 2) the amount of debt and 3) the interest rate.We’ve found that there’s lots of viable high-cash flowing property strategies out there that consistently perform well - even with interest rates being where they are today! So my big tip would be focus on high cash flow strategies & deals!Sam's Second One;Ok, so you’ve got me thinking now! Building on from your last one - People that enter and exit the market too often! Now this isn’t to say you can’t/shouldn’t sell property BUT you’ve got to know the costs attached to it - solicitors fees, capital gains tax, agents fees, potential finance costs etc. etc.And, if you’re only selling one property to then use these funds to buy a different property you’ll be looking at another round of buying costs - solicitors, lender solicitors, brokers, valuations, professional consultations, SDLT, lender application and arrangement fees etc. etc. PLUS lost time and lost rental income!It’s quite easy to sell a deal for a decent profit and to erode all of that profit in selling and buying costs without realising this. You’ll also miss out on potential capital growth on the property you sell as well!I’m team “buy and hold” so my tip on this would be to focus on buying quality assets that you’ll keep for the long term. I think this advice stacks up even if you do end up having to sell!Lorraine's lasst one;Ok, last one for “How to lose money in property” - I’m going to open a can of worms here I think but my pick is “Taking out a bridge loan without a robust exit strategy and an accurate done-up-value”Now, for people that aren’t aware, Bridge loans are a type of short term finance that are used to “bridge” the gap between purchase and, in property, usually exiting to a mortgage or selling - most often used for property that’s un-mortgageable and often undergoing major refurbishment works.The reason I’m picking this as my last choice is that many of the horror stories that we’ve heard over the years of people losing money are due to buying a property on short term financing without a robust plan on how to exit the bridge. If you can secure the price you ...
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    Less than 1 minute
  • How To Get Your Property Trashed!

    How To Get Your Property Trashed!
    Dec 15 2022
    Join us for this episode in which Lorraine Gannon & Sam Lawson discuss all things related to property investment! In this episode they discuss the continued increase in rents, how to reduce the chances of having your property trashed & share a fantastic resource to start to help you work with colour palettes in your interior design! Adobe's Colour tool can be found here - color.adobe.com
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    Less than 1 minute
Management & Leadership Personal Finance Economics
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