164 - Commercial Conversion with over £500k Profit
In this Deals, Deals, Deals Podcast Series, we go Behind the Scenes on some of the UK’s most Creative, Lucrative and Award-Winning Deals 🤩 In this month's Deals Deals Deals podcast, Mark Barrett’s guest is Tej Gill, accountant and tax advisor, who joined Property Entrepreneur last year after attending the 3 day Blueprint event last summer, with his sister Jasdeep, who is a doctor and his investment partner. He must have enjoyed the event as his wife is going this year! Tej shares his fathers early advice about investing in property, how he started out his corporate career in 2008 in Mergers and Acquisitions, before joining his wife at Nijjer Accountants, which his father in law started 30 years ago. We learn about a 3500 sq ft property commercial conversion near Guildford that Tej and his sister did to add to their Financial Fortress. We discuss how they sourced it, the project issues and how they mitigated the planning risk, how they divided it up into two shops and four flats, the rents they achieved, the tenants they got in and a long lease of the flats. Tej shares his top three tips, his unusual Wealth Dynamic profile for his profession, how he helps his clients to structure the 8 and 9 figure sale of their businesses and also his learnings from attending The Financial Fortress six week program with Dan. The numbers are: Purchase Price: £370,000 Project spend: £300,000 (professionals, contractor, solar panels) Total: £670,000 4 Flat’s rental: £50,000 pa 2 Commercials: £27,000 pa Total : £77,000 pa Valuation of the 4 flats: £995,000 Commercial valuation: £300,000 (based on 9% yield) Total valuation: £1,295,000 Equity gain: £625,000 Profit on cost: 93% Profit on GDV = 48% (Gross Development Value) Rental Yield on GDV = 5.9% Rental yield on cost = 11.5% ! Our August episode of Deals Deals Deals is now live, tune in straight away to avoid missing the boat. Success and Failure are both very predictable. ***2 EXCITING OPPORTUNITIES FOR YOUR ATTENTION** Podcast VIP Groups - after last year's success we’ve REOPENED these for a limited time through to August 2023. Each group is capped at 20 people and provides you the unique opportunity to network with other high performing entrepreneurs around the UK. Get VIP discounts to our training and summer events and every week all VIP WhatsApp group members will be invited to attend a free private mentoring zoom call where I’ll personally be sharing bonus training and blueprints on how you can become a 7 figure entrepreneur with a 6 figure income in 2023. Message ‘VIP Access’ to 07871 612297 to access this unique networking opportunity. LAST CHANCE : Don't miss your opportunity to attend our FINAL event of 2023! Our annual 3 Day Blueprint Events are now live. If you’ve liked our free content, imagine how good our paid training is! If you want to learn the entire Property Entrepreneur Blueprint start to finish in a 5* resort with some of the UKs leading Property Entrepreneurs over 3 days please visit www.DontTalkToTenants.co.uk now! Want to contact Mark or his guests? www.thepropertybrokerage.co.uk mark@thepropertybrokerage.co.uk Tej Gill: www.nijjeraccountants.co.uk tej@nijjeraccuntants.co.uk Want to learn more? How to build a 7 Figure Net Worth & Six Figure Income in 2023 If you want to make the shift from working in, to working on your property business with a small team, low workload and high profits, visit www.donttalktotenants.co.uk now to learn more about the tested and proven Blueprint to become a New Age Property Entrepreneur in 2023. Want to know the ONLY 5 PROBLEMS you need to o no no vercome to become a High Net Worth Property Entrepreneur making 6 and 7 figure annual profits? Click here now to download our FREE PDF report Daniel Hill's brand new, first-ever published book Karma Credits: The Universal Law of Wealth, Health and Happiness was released on 6th October 2022 and can be purchased on Amazon. Click here now to purchase a copy. If you’ve not already joined the 9.8k Property Entrepreneurs for FREE in the Property Entrepreneur Facebook Group, click here to join now: The Property Entrepreneurs Community If you're listening to this podcast but have not yet subscribed, click the subscribe button to listen to what Daniel and other industry leading guests have to say on a weekly basis on all things business, investment property and lifestyle: The Official Property Entrepreneur Podcast Keep up to date with Daniel’s unique and proven Blueprints by subscribing to The Blueprint YouTube Channel now Follow Daniel on Social: Instagram: @propertyentrepreneur_ Facebook: @PropertyEntrepreneurOfficial LinkedIn: @propertyentrepreneur