Secret SA Loopholes...Interview with ME!

Episode 48 of the The Serviced Accommodation Property Podcast podcast, hosted by Kevin Poneskis, titled "Secret SA Loopholes...Interview with ME!" was published on September 20, 2020 and runs 89 minutes.

September 20, 2020 ·89m · The Serviced Accommodation Property Podcast

Summary

Register your interest in Serviced Accommodation Discovery Day here, and a member of our team will get back to you to confirm your place at your preferred date.     For a change, in this podcast, it is Kevin who is being interviewed. During the interview, Kevin talks about finding, funding, and running combination Serviced Accommodation (SA). Kevin explains how you can buy a SA one day and start accepting guests, short or long-term, almost immediately. As well as how to set these properties up so you can avoid the fallout from section 24.   He explains how he weathered the CoVid storm by being proactive and is planning to be ready for an upsurge in demand as things evolve and the crisis ends. He covers the important subject of financing an SA, including sharing a list of lenders who will provide the funds for this kind of venture.   KEY TAKEAWAYS Understand the difference between assets and liabilities – Kevin shares an example. Recognise the fact that there is good debt and bad debt and learn the difference. Only take advice from someone who knows what they are talking about, somebody involved in your form of property business. The right mentor for you is someone involved in your industry who is one or two steps ahead of where you are now. In the UK, using the right SA model, it is possible to mitigate the consequences of section 24. Position yourself to take advantage of the staycation boom and be ready to benefit from a less competitive market, once the CoVid crisis ends. Often, you can make SA properties that have been bought in cheap parts of town turn a high profit. Getting finance for UK SA properties is not easy, but it is possible when you approach the right lenders – Kevin provides some recommendations. It is possible to diversify a SA property, which will, often, keep it full for more of the year   BEST MOMENTS ‘The loophole is serviced accommodation where you can go and get a property really cheap’ ‘You´ve got to take advice from someone who's leading by example, and who is qualified to give that advice ‘ ‘Sometimes a disappointment is actually the best thing that could have happened to you at the time’   VALUABLE RESOURCES The Serviced Accommodation Property Podcast https://propertysoldier.co.uk/ Rich Dad, Poor Dad by Robert T Kiyosaki Serviced Accommodation Success by Kevin Poneskis   ABOUT THE HOST Your host Kevin Poneskis enjoys public speaking, travelling, exercising and keeping fit. He also enjoys working with a charity called STOLL which provides accommodation and training for homeless veterans.   Kevin was in the British Army serving 24 years, mostly in a Commando unit and retired at the rank of Regimental Sergeant Major. He left the Army in 2011 and became a full-time property investor. During most of his Army career, Kevin was investing in property and has been a property investor now for over 27 years.   CONTACT METHOD https://en-gb.facebook.com/propertysoldier/ [email protected]

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