This is another cracker of an episode which is jam packed with phenomenal advice for anyone with a residential portfolio.
I am Joined by Ross McColl who, with his brother owns and operates a high yielding portfolio of approximately 300 residential units in the South East.
We discuss;
How Ross left school at 16 with no qualifications then going back into education to do a Masters at Imperial College London in Finance and Economics in order to become a Citi Bank Trader.
How he fell in Love with numbers and realised he could use his skill set to enhance a poorly run family property portfolio.
How being thrown in at the deep end and having to asset manage difficult assets including dealing with over 150 evictions) gave him additional skills.
The types of property that he invests in and why and how that has changed over time.
Why looking at yield is such a strong driver for him.
The types of tenants and why he began to focus on Temporary accommodation as a way to mitigate risk.
Why he feels the lower end of the market has less room to fall.
His approach to maintenance and focusing on the long term.
Why he is so concerned about the removal of Section 21, EPC requirements and interest rates and what he is doing to mitigate those risks in his business.
What he knows now that he wished he knew when he was getting started in property.
How technology has benefitted his business
And much more...
As always thanks to our fantastic sponsors Signature finance who are lenders of Bridging and Development products. Don't forget to contact Tony@signaturepropertyfinance.co.uk and mention the Rodcast to have your legals paid for on their bridging or development loans.
Ross mentioned https://www.konnexsion.com/ which I also use as a tool for property management which we have found to be a great product.
Please leave a review on the podcast platform and share the episode with anyone you feel would be interested in it
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