Listen to this episode below:
Today I am delighted to be joined by Dale Smith. Dale has just left his corporate job as a commercial director of one of the UK’s most successful car dealers in order to switch his full time focus to his property portfolio.
With 27 properties under his belt so far and an annual gross profit in excess of £100,000, he’s in an excellent position to do so, with grand plans of increasing his profits by 40% this year and scaling up his Investicity brand.
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Investing Strategies
Dale’s current portfolio consists of a large number of 2 and 3 bedroom single let family homes, as low land values where he operates means good yields can still be achieved.
The focus moving forwards though will be on serviced accommodation and commercial units. Of the 7 properties he has purchased this year, 1 of them is a holiday let which Dale describes as ‘the most exciting yet frustrating project so far’, plus 3 commercial properties.
Biggest Success
The holiday let that Dale purchased earlier this year has been his proudest achievement, as well as the largest project so far and has set the standard for what he wants to achieve going forwards.
Biggest Difficulty
The hardest part of investing for Dale and his father is finding reliable and high quality tradesmen. It’s been an ongoing struggle throughout their investing but is extremely apparent now with four consecutive projects on the go at the same time.
They try to overcome this by building relationships with the good ones they do find, and offering them consistent work so that the contractors start to see Dale as a solid income stream and want to keep him happy as a result, but one other thing they are looking at is using a platform to push out the work they have and let contractors approach them rather than always be the ones doing the chasing.
What’s Your Favourite Book?
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Predictably Irrational – Dan Ariely
Dale Smith’s Links & Resources
Connect with Dale on Facebook
INVESTicity.co.uk – Dale’s armchair investment solution offering a managed portfolio building service as well as fixed returns on capital
Email Dale Smith – Got a question or looking for some advice? Get in touch with Dale here.