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Mark is a highly successful entrepreneur who has been in business for 30 years, spending the last 23 of them with long term friend and business partner Jackie Reeves. He has started 4 businesses with her, 2 of which were later sold on the open market.
When it comes to the property world, his main focus is on his two businesses, Property Mastery Academy, and Lloyd Reeves, where he spends his time investing in his own multi-million pound portfolio, as well as coaching and mentoring others.
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With a large portfolio, Mark is focussing more on owning property rather than owning debt. He’s raising chunks of cash through development projects and using some of that profit to reduce the mortgages on the rental side of his business.
Keeping debt to a minimum isn’t his suggestion to people just getting started, as obviously leverage allows us to increase our income quicker than we could buying everything cash, but at some point we all need to remember that we got into this for the freedom that property can offer, not for the problems it can create when over leveraged.
He’s also spending a lot of time on Property Mastery Academy, the training and education company he runs with his long term business partner Jackie Reeves.
Just outside Farnham, Surrey is a 1.5 acre plot of land that Mark purchased for £100,000 (at that price in that area, there are clearly going to be some issues with it). He fully expects the first planning application to be rejected, but once he gets through the planning process the plot will jump in value to £350,000 to £400,000, with costs to get there of around £25,000.
The GDV is between £1.4-1.5 million, with a total investment required of 50% of that giving a massive profit of over £700,000.
The planning phase is expected to take 6-12 months, then a build of 6-9 months for a single executive house.
Although he’s never lost money on a specific deal, he did lose money with a sourcing company early in his career where he’d trusted someone to find and create a large HMO for them. He was drawn in by the massive cash flow, but the sourcer turned out to be a crook and ended up costing Mark £40,000.
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