116: Mark Dunsmore has always had a passion for property, but it was only when he got real experience in the corporate world that he decided to take that knowledge and grow his own portfolio

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GUESTNAMEMark has had a passion for property from a young age, when he remembers the excitement of doing viewings around multiple houses with his dad. Like most of us though, he was distracted from this for a time by the corporate world, working telesales, then door to door selling, and eventually recruitment before finally returning to property in 2005.

He worked his way up the ladder with jobs in property management, lettings and sales, and ultimately running 11 offices for a large corporate estate agency group. He’s taken that experience and is now focussing on growing his rent to rent and lease option portfolio in West Yorkshire.

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Investing Strategies

Mark took his knowledge from being an area manager for one of the large corporate agencies and applied that to creating his own sourcing business. Goliath Property Solutions sources deals for investors anywhere in the UK, working with clients on a one-to-one basis and sourcing properties to order.

In addition to that, Markand his team are also building their own rent to rent and lease option portfolio which they’re managing in-house (effectively creating an internal letting agency).

The final element of the Goliath business is the Academy, which focuses solely on teaching people how to find the type of properties they’re looking for. They don’t teach specific strategies, but rather how to find the right deals for whatever strategy you’re focussing on.

Biggest Success

A recent property that Mark took on was originally negotiated on a rent to rent basis, but after further discussion with the current owner they realised together that it was more suited to a lease option.

The landlord is still receiving a monthly income that he’s comfortable with, and Mark is earning around £700 a month from the property.

The option is agreed over 7 years, but Mark cannot buy the property within the first 3 years due to the owner’s retirement plans. In addition to that, the owner has agreed to sell the property for a little under current market value, but Mark has included an equity share so that the owner receives 25% of any increase in the market value before the option is exercised.

This is one of Mark’s favourite deals for a number of reasons, but certainly in part due to the way the option is structured, keeping the landlord happy now with a good income, and keeping them incentivised into the future with the equity share clause as well.

In my eyes, this is the way a lease option really should be done.

Biggest Difficulty

Mark was working on a very large deal (a lease option portfolio) that would have given him a £25,000 sourcing fee. It dragged on for 7-8 months before finally falling through in February this year, despite all of Mark’s best efforts to try and get the deal done.

It transpires that the landlord got concerned about one of their lenders recalling some of the debt (most of the portfolio was in negative equity), and it has really taught Mark that regular follow up needs to be more than just a quick check-in. Had he asked more in depth questions along the way, he might have spotted the issue arising and been able to put a solution in place – or walk away sooner before wasting so much time on it!

What’s Your Favourite Book?

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The 10X Rule: The Only Difference Between Success and Failure – Grant Cardone

The Secret – Rhonda Byrne

The E-Myth Revisited: Why Most Small Businesses Don’t Work and What to Do About It – Michael E. Gerber

Mark Dunsmore’s Links & Resources

20waystosourcedeals.co.uk – Download Mark’s free guide on his best deal sourcing tips
Goliath Property Solutions – Discover more about Mark’s main sourcing company
Goliath Sourcing Academy – Find out about the courses available through Goliath Sourcing Academy
Mark on Facebook – Connect with Mark on Facebook
Goliath Sourcing Academy Facebook Group – Join the sourcing conversation on Mark’s Facebook group
Trello Project Management – Mark’s favourite resource is Trello, helping him keep on top of all of his projects

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