PROPERTY: Title Splitting, Auctions, And Building a Multifaceted Business - with Max Scott of Star Group Property
In this episode, Rob speaks with Max Scott of Star Group Property. They discuss how to take a title and split it in a way that enables you to create several properties, which can then be sold separately for a higher profit. Scott also shares several lesser-known auction tips that are designed to help you to beat other bidders. They round up the episode by talking about some of the challenges property investors face. Max explains how he and the Star Property team have developed processes and created supporting businesses to overcome them.
The Property Nomads Podcast · Rob Smallbone & Aaron Devoy
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Show Notes
In this episode, Rob speaks with Max Scott of Star Group Property. They discuss how to take a title and split it in a way that enables you to create several properties, which can then be sold separately for a higher profit. Scott also shares several lesser-known auction tips that are designed to help you to beat other bidders.
They round up the episode by talking about some of the challenges property investors face. Max explains how he and the Star Property team have developed processes and created supporting businesses to overcome them.
KEY TAKEAWAYS
- Title splitting is a bit like taking a multi-pack, opening it, then selling each unit individually.
- Splitting a title instantly adds value to the property you bought.
- Title splitting can also have tax advantages.
- It is rarely a good idea to buy at auction without having the money ready.
- Take your time when reading the legal pack.
- Putting in an offer pre-auction for an overpriced property is an effective strategy. Max explains how it works, in the podcast.
- Learn how to solve problems that scare other buyers off to secure bargains. Max provides examples.
- Being able to move fast gives you an edge. Honing your processes and employing the right professionals is essential.
- Don´t prevaricate. Be ready to try things. Max explains how to decide when to do this.
- Don't try to get rich quick, with property you have to take the long-term view.
- Understand the power of compounding.
BEST MOMENTS
‘You can create an uplift of 10/15%, which is there straight away.’
‘At an auction, you are looking for anomalies that you know you can solve e.g., a tenant in arrears.’
‘We lose every day, and we win every day. But we win more than we lose.’
‘We only invest for cash flow.’
Star Group Property Info
Mainline: 01273 526800
Website: https://www.star-property-investments.com
Email: [email protected]
Email: [email protected]
Max Scott
Instagram: https://www.instagram.com/starpropertyuk/
Linked in: https://es.linkedin.com/company/star-property-uk
Laura Darling
DDI 01273 806247
Mob: 07917 161707
Email: [email protected]
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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