Tune in to hear the behind the scenes TV Q&A with Progressive Property Co-founder, Rob Moore. Listen in and learn all about Mark & Rob’s property journey from their first investment to growing one of the largest property investment companies and education businesses in the UK. If you’re looking to discover more about the traits of the greats and the characteristics of these two Property, business and entrepreneurial experts, this episode is for you.
What was the first property you purch...
Tune in to hear the behind the scenes TV Q&A with Progressive Property Co-founder, Rob Moore. Listen in and learn all about Mark & Rob’s property journey from their first investment to growing one of the largest property investment companies and education businesses in the UK. If you’re looking to discover more about the traits of the greats and the characteristics of these two Property, business and entrepreneurial experts, this episode is for you.
What was the first property you purchase?
Mark: The first property I bought was a flat in a ski resort in Bulgaria off-plan and I lost 60-70% of the purchase price. After this, I bought a property in Hampton and flipped it when the price was right making roughly 15K but I could have made more had I not purchased a new build. Often the worst looking properties yield the highest returns.
Rob: 26 Eyeroad, and I still own it today. My Dad helped me out with the deposit and when I become financially free I gave it back to them and they still live there today, mortgage-free.
What is your work ethic?
Rob: I have a fear-based work ethic and believe you have to ‘make hay while the sun shines’ because there are always bad times around the corner and you can be blind-sided easily. I want to take advantage and grow while we can and set ourselves up into a position where we can thrive even if we’re not earning
Mark: My work ethic comes in waves depending on what’s going on. There are times where it can be intensive for long periods of time and my job isn’t the same every day as I’m generally solving problems and issues day by day as they come along. I’ve tried to build most of what I do with an automatic degree of leverage.
What milestone are you most proud of?
Rob: Winning business of the year 2016, breaking the public speaking world records and raising the hundreds of thousands of pounds for charity and each time Mark and I have reached 50, 100, 150 properties or certain levels of income and bringing our letting agency inhouse are nice milestones also. I couldn’t pick one as I believe we still have lots to come.
Mark: For me getting the Guinness world records and publishing our first books with international publisher Hatchet, we’ve also had the Independent, Financial Times and the Guardian write news articles on us. Additionally developing the new bigger building is a great milestone, right now it’s the old Marks & Spencers building where we’re building 99 apartments. Also some of the training programmes we’ve run in the Carribean, the super conference and having guests such as Lord Sugar, Bob Geldof, Grant Cardone etc.
Describe your property portfolio?
Mark: Our portfolio is broken up into different constituents and it depends where you are in the timeline to evaluate it. Our investing timeline is fairly linear so if you look at the terraced houses it’s often the ones we’ve purchased in the beginning and from there multi-lets, HMO’s and houses and subsequently into commercial conversion buildings and the scale has grown over time.
Rob: Our portfolio has been a journey and generally we’ve reacted to the market and jump on opportunities for example with permitted development etc. We’ve always tried to buy property locally and never selling a property as long as it works and we have kept 95% of our portfolio.
What do you do on an average day?
Rob: I get up at about 5 and get all of my important stuff done by 8, I’ll then go to the gym and when I can I’ll come into the office with meetings in the morning. We often travel to do the podcast and I’m also trying to add more fun things in my life. My average day is routined but I like to keep a variety.
Mark: I get up at 7 and crack on at home and often come into the office later but stay until around 6. I’m also away at onsite developments.
What’s the biggest risk you’ve taken in property?
Mark: Property wise it’s probably the commercial development of 99 apartments we’re doing at the moment. GDV is north of 20 million. Usually, when I’m borrowing money it’s first-charge only. There’s times when I’ve been worried about cashflow and liquidity but we like to stockpile cash.
Rob: We haven’t taken too many risks and I’d be embarrassed and ashamed if we went bust and I’m not prepared to do it so we take fewer risks and think long-term.
What are your business plans for next year?
Rob: We’re probably not going to buy a load more property projects but there will always be one block or so a year and in terms of the education business we’ve just merged everything under ‘Progressive’ and I want to grow it more in the coming year and take it to the global stage.
What’s your view on the right-to-buy scheme?
Mark: Right to buy is something that Thatcher brought in and it’s been a good thing with loads of tenants having the opportunity to purchase their property from the council. It’s been great for quite a few people but those that have less financial knowledge have ended up re-mortgaging and their property has been repossessed. Maybe a right-to-buy scheme with enforced financial education would be even better.
What’s your lifestyle like?
Mark: It’s different and varied depending on the time of year but I’ve got a few weekends back which is pretty cool and with 3 or 4 holidays a year it’s great. It’s all about spending time with my son and my wife. I also go to a lot of events and try to do things I’ve not done before.
Rob: I really enjoy writing, creating content, writing books and connecting online. Golf with my son is also huge we’ve competed at multiple tournaments around the world but work and what I love are pretty much the same.
BEST MOMENTS
“It’s very important to have multiple streams of income”
“In the North, you’ll find lots of properties where the capital value is lower but the rent is no lower so the yield is actually higher.”
“The property I purchased in Bulgaria was an expensive entry fee into property”
“You do this for the money but realise you need to have fun too”
ABOUT THE HOST
Mark Homer is an entrepreneur investor. He has worked with investment since he was 15 years old using the laws of wealth! He is a spreadsheet analyst with an impressive following from major publications including BBC Radio, The Wall Street Journal, The Independent, and co-authoring the UK’s best-selling property books. Mark has always looked for the best investment vehicle, and at the end of 2007 with Rob Moore the co-founder of Progressive Property his joint portfolio produced more profit than any of the other investments he’d tried in the last ten years, combined.
CONTACT METHOD
Email: Markhomer@progressiveproperty.co.uk
LinkedIn: https://www.linkedin.com/in/markhomer1
Facebook: https://www.facebook.com/markprogressive
Twitter: https://twitter.com/markprogressive
ABOUT THE GUEST
Rob Moore is an author of 9 business books, 5 UK bestsellers, holds 3 world records for public speaking, entrepreneur, property investor, and property educator. Author of the global bestseller “Life Leverage” Host of UK’s No.1 business podcast “The Disruptive Entrepreneur”
CONTACT METHOD
Rob’s official website: https://robmoore.com/
Facebook: https://www.facebook.com/robmooreprogressive/?
LinkedIn: https://uk.linkedin.com/in/robmoore1979
