In this episode, Rob speaks with Malkit Purewal and Sanjay Kumar of Savoys Properties who refurbish and manage properties across the UK. They specialise in creating and running high-end, boutique-style, all-inclusive, yet affordable properties. Doing so for themselves and clients. In the past 2 years, they have won 5 highly respected property industry awards.

They explain why after over 20 years in the business they feel that today's market conditions are especially chaotic. Malkit and Sanjay also talk about how Savoys is managing soaring materials costs, a shortage of suitable properties, and higher levels of competition. Doing so by thinking outside of the box and being one of the first to understand legislation changes. An approach that has enabled them to continue to grow and remain highly profitable.

KEY TAKEAWAYS

• The pandemic made people realise they cannot rely on one source of income. Leading to far more people investing in property.
• Fear of inflation is now leading to people using their savings to buy property, which is continuing to fuel prices.
• Making deals work is harder than it was e.g., the cost of materials rising on average by 25% during project completion.
• There are still opportunities out there. In the podcast, some of the strategies Savoy´s use to do this are shared.
• Digging deep into the legislation and planning rules can result in your uncovering a viable and innovative approach. One that others have missed.
• Right now, there are a lot of commercial opportunities available.
• Know what your angle is and plan your exit for each deal.
• For HMOs, fixing utility and mortgage costs works particularly well, especially if you have a fairly large portfolio.
• Proposed UK planning reforms will further transform the market. How, is discussed, during the podcast.
• Aim to be the first to understand the new planning rules to gain an edge over your competitors.

BEST MOMENTS

‘Property prices have risen at a faster rate than we´ve probably experienced in the last 10 years.’

‘There´s always opportunities, whether the market is doing really great or not.’

‘Our perception is that most of the country will become article four, which creates a sort of goldmine.’

EPISODE RESOURCES

Web: http://www.savoysproperties.co.uk 
Instagram: https://www.instagram.com/savoysproperties 
LinkedIn: https://www.linkedin.com/company/savoys-properties/

ABOUT THE HOST 

Rob Smallbone, the host of The Property Nomads Podcast, is on a global mission to guide your success. Success can happen in many ways, shapes, and forms. Think about what success means to you. More properties? More clients? Financial freedom? Time freedom?

Rob wants to make a huge difference to people around the world. He is here to guide your success in property, business, and life and to inspire you to achieve your goals, dreams, and visions. He's travelled, explored, and invested. And he's not planning on stopping these activities anytime soon.

Buckle up, sit tight, and enjoy the ride that is life.

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