‘I realised no one really talked about the legislation around property sourcing and deal packaging, it was like a little dark secret sitting in the corner’
Tina Walsh began her career in the police force and started investing in property in 2005, a chance remark led her into the world of deal packaging and she now combines her passion for property sourcing with everything compliance-related.
She is an expert on the compliance requirements for deal sourcers and deal packagers and in this episode, she shares the essential steps that deal packagers and sourcers must take when they start out and the key questions that any investor should ask.
Tina explains clearly the steps that must be taken to ensure compliance and why it’s important for both deal sourcers, deal packagers and investors to be on the right side of the law.
KEY TAKEAWAYS
The Sourcer
Insurance – professional indemnity insurance this covers you for your professional services.
Register with one of 2 ombudsmen
Register for data protection supervision with the ICO – as a property sourcer you gain a huge amount of information on your clients. If you are handing someone personal details they should be treated with respect
Register for anti-money laundering supervision with HMRC
The Investor
BEST MOMENTS
‘It’s key you check there is an in-house complaints policy’
‘Someone may have inherited cash and this can be proved through the solicitor’
‘Just because as a deal sourcer you don’t have a shop front you shouldn’t think HMRC won’t come knocking on your front door’
VALUABLE RESOURCES
The Serviced Accommodation Property Podcast
https://propertysoldier.co.uk/
Property Sourcing Compliance Facebook
ABOUT THE HOST
Your host Kevin Poneskis enjoys public speaking, travelling, exercising and keeping fit. He also enjoys working with a charity called STOLL which provides accommodation and training for homeless veterans.
Kevin was in the British Army serving 24 years, mostly in a Commando unit and retired at the rank of Regimental Sergeant Major. He left the Army in 2011 and became a full-time property investor. During most of his Army career, Kevin was investing in property and has been a property investor now for over 27 years.
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