The Property NomadsProperty 118 Founder Mark Alexander Explores the Impact of Section 21 + Advantages of Long-term Economic and Property Planning
Was the abolishment of Section 21 evictions reasonable for both the landlords and the tenants?
In today’s episode of The Property Nomads, Rob meets with Mark Alexander, founder of ‘Property 118’, to discuss the effects of preventing the use of Section 21 evictions on the future of the landlord’s situation. Discover why Mark believes that the recent decision only favours the tenants and ignores the real reason why landlords use it. Mark discussed why economic circumstances should be considered when beginning to grow your property portfolio.
With over 25 years’ experience in the property industry, Mark has plenty of knowledge to share, covering the effect that recessions have on the market, Section 21, his opinion on recent issues in the property field and shares some great tips for entrepreneurs.
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KEY TAKEAWAYS
- Before Mark Alexander entered property world, he was building his career in the fields of insurance and finance. It was there he met people who got him interested in investing in more properties.
- Having experienced the recession in the 90s, Mark doesn’t want it to happen again, particularly to landlords. His experience shows that 2/3rds of business struggled to get finance, and the remaining 1/3rd managed to thrive with high cash reserves.
- Mark was able to grow his property portfolio by choosing to find the right properties in the goldmine area.
- Mark became the lead claimant in the UK’s largest ever direct Class Action case which was won and created two pieces of Case Law and the Courts of Appeal.
- He does not believe that the eradication of Section 21 evictions was well-thought out as there were no alternatives presented to the landlords.
- If they’re going to be less rental properties, where do the other people, who need it more, need to rent? Where will they live if there are no available properties?
BEST MOMENTS
- "Successful investors are the ones that look at it as a business and look at it more of a marathon than a sprint, build their property portfolio and property business gradually, and learn the business from within it.”
- “There are two ways to learn. You can either learn from your own experiences, or you can learn from other people’s experiences.”
- “If they had known (about the recession), they would’ve sold all their properties and sorted their market same as the other billionaires that did that.”
- “Plan for the worst and hope for the best is the best you can do in such uncharted territory.”
- “I think it’s a stupid decision. You can’t make a decision to do something without deciding what you’re going to replace it with.”
VALUABLE RESOURCES
ABOUT THE GUEST
Mark Alexander has been resident in Malta since Feb 2016 and have second homes in Russia and Florida. He travels extensively with his wife (18 countries in the last 12 months!).
Mark is a serial entrepreneur and all of his businesses have been based around property, finance, tax and law. Notable successes include:
- Co-founder of The Money Centre (UK) which ranked #38 in The Sunday Times Profit Track 100 in 2008 (the year before I exited)
- Founder Member and former Board Member of the National Association of Commercial Finance Brokers “NACFB”
- Founder of property118.com
- Landlord since 1989, property related financial services since 1987
- Tax exile since Feb 2016
To book a tax consultation with Mark then please visit:
To contact Mark’s PA Yvonne:
- 01603 428 504
ABOUT THE HOSTS
Rob Smallbone and Matt McSherry, the hosts of The Property Nomads Podcast, are 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 & Matt are just two guys who want to make a huge difference to people around the world. Rob & Matt are here to guide your success in property, business and life and to inspire you to achieve your goals, dreams and visions. They’ve travelled, explored, and invested. And they’re not planning on stopping these activities anytime soon. Buckle up, sit tight and enjoy the ride that is life.
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