Workshop Review
Full Review
I arrived at the Aztec Hotel at 9:10 AM to find Kevin already surrounded by a number of enthusiastic impatient
Workshop Studentss and immediately recognised Richard Greenland, a well-known Bristol--based investor, a good
omen.. Hot, fresh coffee was on tap along with the "chef’s delights",, which transpired to be glass jars of biscuits,
not a good start as I had skipped breakfast and sweet biscuits at 9ish are not quite my cup of tea!
tea
Promptly at 9.30 we were ushered into the meeting room, virtually next door, and set up boardroom style with
the 14 Students facing down to a small screen (4’²) with the flip chart to one side. Because of the room size
Kevin and the flip chart were always going to be behind half the Students,, and so it was all day, not good.
Kevin open proceedings with a short "inspirational/motivational" video, and a soundtrack
that grated, followed by the question that set the day, "Are you a mortgage or cash
buyer"? The
he majority answer was "mortgage", but Kevin told us that by the end of the day
it would become "cash". We moved into introductions when each Student briefly said
who they were, from where, their history & strategies with no "willie waving", size of their
portfolio! At this point, Dianna Bonner, a photographer, joined us to shoot the morning’s
action and Student
Studen marketing shots.
Introductions over with, we moved on at 10:25 AM to the list of topics above. It was explained that "Ninja"
investors were "deal stealers", they worked under the radar.
radar. Kevin also made very clear that though the topic
of the day was "mortgages" there was no mortgage fraud in the room,
room even creative.
At my invitation Kevin expanded on what constituted mortgage fraud which raised a
number of questions from the Students.
10:55 AM and Kevin asked everyone, "what do you want to learn today"?
today Each Student
answered the question with his/her hot topic/query
topic/query which was written on the flip chart.
Kevin followed this question with a number of brief examples of profits
profit made & deposits,
ending with a 51K, profit in 2 months, deposit 5%/3K!
5%/3K
After literally
erally a 10 min coffee/tea break, a hard taskmaster Kevin, we started on "Empowering Beliefs" and Kevin
opened with the "B" word, Bridging,, followed by a series of slides which went a long way to dispel the negativity
associated with Bridging Finance, the types of property most suitable, best geographical areas, thresholds and
how costs are applied. Altogether, a substantial amount of detail and with that, it was 1 PM and lunchtime.
1:50 PM,
PM we resumed after an excellent hot/cold
cold buffet,
buffet without the
photographer, starting with the JV Profit Retainer.
etainer. Typically JV partners expect
50% of the deal profits whilst no Bridger takes 50% of your profit and property
should cost less. Kevin's message, Ninja’s don't JV for Cash,
ash, only Experience.
Next link,
link Negotiation Translator and the acronym SPEECH, Select, Position,
Emotion, Enquire, Cash, Hold firm. Briefly,
B
this session was all about how to
negotiate successfully with credibility & authority,
authority, and specifically, deal with
agents, get on their preferred list and make them "love you"" plus why special care
needs to be taken over choosing a bridging solicitor,
solicitor, primarily due to the need for
speed, in the transaction.
This section also involved in quite
ite a lot of discussion amongst the Students, including me,
me relating their/my
personal experiences in dealing with the vexed question of establishing credibility with agents and so it was
time for a tea break and a chance to enjoy those biscuits again!
15 min later and Kevin was marshalling us back into the room to start on the Cash Minimiser Blueprint where the
objective is to "maximise your refinance survey valuations" & "gain
" ain clarity of cash trapped in deals before you
commit to buy". Once again the inevitable
inev
acronym PRINTS, Present,, Refurb, Images, National, Titivate, Survey. I
leave it to you to work out the relevance of each as they really are quite obvious but,, it's often the case in this
business that we miss the obvious. For instance, Present, quite simply, "turn up", for a valuation, too often
investors leave this to their agent who is unlikely to be as positive or informed about your property as you will be.
By this stage of the day the Masterful Mind-set, whether we were a Mortgage or Cash
buyer was beginning to dawn, though with some, the lights were already on and very
bright.
Quite simply, Bridging, made us "Cash Buyers" with all the recognised advantages and
so we moved on to the 3 Ninja Investor Formula 50% BMV, 100% Refurb, 90% Flip, all of
which now became possible as a cash buyer.
50% BMV, bridging buys un-mortgageable properties, so outrageously low offers and completion within 5 days
can become the norm. To back his contention Kevin went on to list 16 un-mortgageable property scenarios
from derelict through to Japanese knotweed all of which could be brought by a Ninja.
100% Refurb, bridging can facilitate delayed completion with NMLI, one of my favourite strategies, on the day
you complete. Kevin explained the mechanics which included refurb between exchange and completion, value
at OMV not purchase price, sell or refinance from day you complete, get more of your cash back & quicker.
90% Flip's, buy BMV with little/no money down, objective, to put as little of your cash in the deal as possible.
Kevin pointed out that this strategy was possible with smart houses & motivated sellers, repo’s plus buying &
selling at auctions, always with the support of your Bridger, Kevin? Light “Bridging” Upselling throughout the day.
Each of these Ninja Investor Formula was supported by both brief & detailed case histories, brief consisted of
location, profit, timescale & deposit, detailed included a complete itemised breakdown of all costs involved.
We were now rapidly approaching the scheduled cut-off time, 6:30 PM, and
judging by the workbook still had some ground to cover. Consequently Kevin sped
up the presentation and we weren't able to spend a lot of time on the itemised
breakdowns but, on the couple we did, all the numbers stacked up.
As we passed through 6:30 PM Kevin went back to the hot topic/query list to
check whether he had answered each Students’ point, no problems there. At this
point, due to prior commitments, three or four Students unfortunately had to
leave which brought the workshop to an unplanned, slightly disorderly, conclusion.
Bridging Finance is a highly technical subject often not properly understood by even experienced investors and
also feared by many to the extent that a policy of avoidance is often advised, which needs to be overcome, as
it is commonly agreed that power lies with the cash buyer and, as was explained, Bridging means Cash.
As is borne out by the statistics, Kevin Wright proved to be both a Bridging Finance expert and very competent
trainer able to explain, in considerable detail, the mechanics and benefits of using Bridging Finance to
empower investors. Throughout the day, every question was immediately answered and Student interaction
strongly encouraged, both of which are a testament to Kevin's competence, professionalism & training ability.
Even if you never use Bridging, you need to understand it to judge its value to you. So, do Kevin Wright's
"Recycle Your Cash" Workshop. It is Essential Training with 3 Very Workable Strategies, Definitely Value For
Money & Highly Recommended. PropertyInvestorOnline.com Member’s Discount Available.
© David Humphreys 2015