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  • In the Spotlight

    In the Spotlight - Lisa Orme ....

    As we believe in reciprocity, and our network is fuelled and kept alive by members' contributions, "In the Spotlight" is our way of saying thank you to those people who contribute to our network, both on and off-line. We hope these posts give those featured enhanced visibility in our network and lead to more awareness of what they do. It's a win/win situation for everyone!
    This week is is the turn of Lisa Orme, a regular contributor to the forum and one of the most respected people in the U.K. property arena.
    I first "met" Lisa on the Singing Pig forum and was drawn to her posts because of her obvious knowledge and experience, her generosity of sharing that, and her hugely detailed information. I still have not had the pleasure of meeting Lisa in person, but I have spoken to her on the phone several times, and we have chewed the cud about property and put the world to rights!
    Lisa is a person of huge integrity and ethics and shares the same values as myself and Nick. She is a real "like-mind" and it is a privelege to have her input into this community as she has her own forum - The PIPA Forum - to deal with! She has also recently qualified as a mortgage broker - another string to her bow.
    I hope to meet Lisa in person soon.
    The purpose of this feature is to raise awareness of what tribal members do, so that you know who to go to if you need a particular product, service, or some advice. We hope that one of the benefits of membership of the tribe is increased business transactions between the members.
    So Lisa, please can you answer the following questions for us:
    1. When did you first get involved in property and what attracted you to it initially?
    2. What is your own personal strategy with regards to investing?
    3. What is your main area of expertise and skill set?
    4. How do you see the future of property investment?
    5. What is the worse mistake you ever made in your property investment career?
    6. What is the best bit of advice you could give to a novice investor?
    7. How can you support or assist other members of the tribe?
    8. Tell us one unusual non-property related thing about you ....
    9. If you could advocate one other person or company in property, who would it be?
    10. Anything else you would like to say?
    If any tribal member has a question for Lisa or would like to write a testimonial for her, please add it to this thread .....
    If you would like to be featured "In the Spotlight", please drop me an email, but please note that this feature is for active contributers to the forum and our off-line networking meetings, not passive viewers ...
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    Wow! Many thanks Vanessa what a lovely surprise! And thank you for your kind words; the feelings are mutual.
    Just to say I've seen the post and I'll answer the questions in the next few hours.
    Kind regards, Lisa
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    Lisa All comments are for education and information purposes only and do not construe as advice or a financial promotion. No liability is accepted for comments made. If you wish to receive information in an advisory capacity then please contact me about becoming a client. www.keys-mortgages.com

    I'm looking forward to the answers Lisa. x
    N
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    [Image: 4995468760_6be86655d4_t.jpg]
    general operations director, site owner and moderator - propertytribes.com

    1. When did you first get involved in property and what attracted you to it initially?
    I got involved in property as an investor in January 2000. We had read Rich Dad, Poor Dad on holiday in Australia and just knew that property was for us. On the way back from the airport I picked up a copy of Exchange & Mart (bizarre I know!) and in it was an advert for the Southcourt DIY Lettings Agency. That seemed like a sensible place to start so within 2 weeks we’d started our own letting agency even though we both had full time careers.
    I had no clue what we were going to do at the time but was very attracted to the wraparound mortgage structure introduced in RDPD but we had to start somewhere and doing property management seemed like a plan!
    We soon realised that the ones making the money were the landlords and the agents did all the work (hah as if!) so we sold a badly performing endowment policy and set about buying our first property. We actually bought four off a developer (before off plan was bad!) I was scared witless to be honest but we completed in less than a week on all four and it went from there. I still have 3 of them and my second ever tenants still with us.
    We were attracted to it because it was the only thing we could think off that we could both do together and we really wanted to work together in our own business. I was a forensic scientist and Stuart was a telecoms engineer – not exactly compatible careers and not really much opportunity to run my own business!
    We had done several things including fitting home alarms, designer perfumes, Amway (that’s how we got RDPD) but nothing was quite right. We used to go round show homes and trade shows in our spare time and dream and plan building our own home so when I read RDPD something just clicked.

    2. What is your own personal strategy with regards to investing?
    Mmmm! I don’t think we really have one but let’s see…
    I take each deal on its own merit. I have done refurbs to sell, refurbs to let, straight buy to sell (from original viewing, through purchase, on the market and to completion of the resale to first time buyers in 2 weeks is my record), options, lease options, land deals, off plan deals, seller finance, development and conversion – not much I haven’t done.
    Hence why I say I don’t have a particular strategy as such I just look at each deal as it comes along and see what I can do for me and for the client.
    I do have some specifics though;
    I always stay local. I don’t like to travel more than about 30 minutes from where I live. We even moved to Coventry from Leicestershire as we felt it was too far from most of our properties and contacts. I think there is so much than go worng, so much we can't see if we don't know the area and keep an eye out.
    I’m a control freak and would never hand over the reigns to anyone else so have viewed every property/site I have purchased or done a deal on and have always run the numbers myself. It’s my money and my future and I wouldn’t trust anyone else to do either of those things on my behalf. I won’t ever be Donald Trump because of it but I’m comfortable with that!
    I like to buy good quality properties in decent working class areas; much like I was raised in. We’ve got some luxury properties too but certainly nothing I would say is bottom end. I have always stayed away from the very cheap areas even though they yield better. I don’t want the hassle.

    3. What is your main area of expertise and skill set?
    I think it would have to be negotiation and creativity which are very much interlinked.
    I think I have a good way with people and clients and have a done a lot of deals based on me rather than what I’m offering. But because I can just ‘see’ deals and structures and creative stuff it also means I can often come up with solutions for clients others just won’t have seen and that often gives me an edge.
    I would say that applies to both clients selling and in my mortgage business too and was a big driver in my pursuing that as I love to problem solve.

    4. How do you see the future of property investment?
    The future or my future? The future – well where’s my crystal ball! Its such a peculiar market and economy and I change my mind every day. I see two scenarios really.
    a. Interest rates stay low for a VERY long time. The lack of property and building puts pressure on supply and forces prices up. The economy improves, house prices increase and people feel confident again. This gives lenders confidence and given greed is a powerful force and loss is much like childbirth (else we’d all be only children!) then we will see incredible growth and as rates start to rise people will be able to mortgage or sell themselves out of any problems.
    b. Rates increase too quickly and people are unable to mortgage or sell their way out of trouble. Lenders lose confidence in the housing market and hold back lending to homeowners and businesses. The economy and confidence suffers, repossessions increase and property prices fall.
    I’m hopeful of the first and fearful of the second.
    As for my future – next top of the market I’m outahere!

    5. What is the worse mistake you ever made in your property investment career?
    How long have you got?
    Anyone in any business who says they haven’t made a mistake indeed lots of them is a liar and property is no exception. I’ve done the odd bad deal but nothing catastrophic its tended to be more what I’d do if I had my time again.
    I think it would probably be to have a better handle on everything right from the beginning especially the admin side. We are significantly better than many I know but being a perfectionist its not as good as I’d like and when you have a lot of properties, several businesses and are always working on numerous projects its hard to go back to basics or start again – you’re always playing catch up.
    So the biggest thing I’d do if I had my time again would be to make sure that I had really robust administration systems in place right from the start.

    6. What is the best bit of advice you could give to a novice investor?
    I think it would be to stop worrying about what everyone else is doing and concentrate on your own goals. That’s something I constantly have to remind myself too.
    I was more than happy with my own goals when I got started as I didn’t know anyone else in property, there were no forums, no events, no websites, no courses so you didn’t know what anyone else is doing but all of these things expose us to how (supposedly) successful everyone else seems to be and particularly for newer people it can be very frustrating and disheartening.
    But in my experience a lot of them are lying or certainly exaggerating as they are usually selling something! And even if they are telling the truth we all have different starting points, different challenges and different goals. You can’t compete with someone who has £1 million pound to get started if you’ve got a family and are trying to save up your first deposit.

    7. How can you support or assist other members of the tribe?
    On the social side I’m not great at starting discussions but I love to answer them. I’m a problem solver and as such am more than happy to try to find ways to structure deals, solve problems and answer questions. I’d prefer it via the forum than personally as everyone can then benefit and if I don’t know the answer I’ll usually look it up myself then come back so if you’ve got a tricky question feel free to ask.
    On the business side I can offer a consultancy service as well as financial services; mortgages, insurance, wealth management, equity protection etc – see my website https://www.keys-mortgages.com

    8. Tell us one unusual non-property related thing about you ....
    Ooh good one! I have been doing my family tree for the last year or so and have found some fascinating things out. On my moms side I have gone back to the 1100s and discovered we are descended from the Plantagenet Kings of England as well as various other Kings, Queens, etc around the world. My mom came from a very humble background so it’s been lovely to keep telling her about all of this – the downside is she keeps threatening to have my dad beheaded!
    I also discovered that in the same line my grandfather 11 times removed (!!) was Sir Hugh Myddelton who was a famous architect in the 1500s and built the New River which brought fresh water into London; it revolutionised the City and saved millions of lives. On a recent trip to London we did the Duck Tour and the tour guide talked about it and I thought wow one of my ancestors was that significant they still mention it now. He has a statue in London in his honour – you can see his picture here and see how much we look alike ;-)
    https://en.wikipedia.org/wiki/Hugh_Myddelton

    9. If you could advocate one other person or company in property, who would it be?
    Blimey there are so many.
    My solicitors and mortgage broker have been in my team since day one; they aren’t in the public eye and have no desire to be but have been the foundations of what we have achieved.
    Vanish Patel taught me an incredible amount about people and marketing and he also encouraged me into networking and writing so he would be high on my list.
    Also Mike Bloxam (Land Projects) and Ray Linton (original founder of Cavendish Reversions); these guys are genuine as the day is long and I’ve known them both for a long time. There are a lot of rogues and cheats in this business and oftentimes I’ve thought do I have to be like them to be successful but these two guys remind me you can be honest and genuine and still be successful in property.

    10. Anything else you would like to say?
    Just thank you for the opportunity. It’s an absolute pleasure to be part of Tribes!
    Kindest regards, Lisa x
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    Lisa All comments are for education and information purposes only and do not construe as advice or a financial promotion. No liability is accepted for comments made. If you wish to receive information in an advisory capacity then please contact me about becoming a client. www.keys-mortgages.com

    Great to read your story, Lisa. Thanks for sharing.
    I come across many people who have no funds to invest in property, but I still encourage them to learn and see what other opportunities there may be within the property arena. Do you think it is important to think laterally, try and see opportunities where no one else can, and to just keep learning, even if you cannot see a way forwards? I think LEVERAGE is going to be a big word in (property) business soon. People will pay to leverage knowledge, but, more importantly, networks. (You obviously are arleady achieving this with PIPA forum!). I see very different business models emerging over the next few years and a lot of fall out.
    Today, at the Excel Investor Show, someone said, referencing the U.K. property market and interest rates, that "when you put meat in the freezer, it only gets rid of the smell". In other words, the low interest rates have not stopped the rot. I am inclined to agree with this and I think there is a lot more pain to come.
    Hopefully by sharing knowledge and supporting each other, the Tribe can help each other survive. I know you share this philosophy, so thank you for your generosity of sharing your knowledge and supporting others. We can all learn so much from you. x
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    Hi V,
    having your own money to invest is such an insignificant part of property even in the current market. By continually thinking that you have to have money to invest you are excluding yourself and your mind from so many opportunities.
    I'm currently arranging an option deal for a 4 acre site; the seller is more than happy to sign the deal with a token sum and the site has a GDV of £5million. It's not your usual development so hard to explain but if all pans out I will end up doing very little to this site, selling but will still own the freehold which will be worth around £2m and profiting around half a million all at no cost to myself.
    With the right deal, the right strategy and the right attitude anything is possible. There's plenty of other examples I could give but the reason I've used this one is it's current and as such demonstrates the state of the market is irrelevant.
    I would certainly agree with the observation you mention re the rot. There's a lot to still 'shake out' and it's not over yet but none of us immune! Everyone from the single property investment to the billionaire have gone under and if the stars in your universe aren't aligned then anyone could join them. Personally I'm exceptionally grateful I'm still here and my credit is intact! That may be foresight and planning but I think there's a massive dose of luck in there too!
    I am but a collection of all the support and knowledge I have received from others over the years so it's an absolute pleasure to return that back.
    Kind regards, Lisa
    Vanessa said:
    Great to read your story, Lisa. Thanks for sharing.
    I come across many people who have no funds to invest in property, but I still encourage them to learn and see what other opportunities there may be within the property arena. Do you think it is important to think laterally, try and see opportunities where no one else can, and to just keep learning, even if you cannot see a way forwards? I think LEVERAGE is going to be a big word in (property) business soon. People will pay to leverage knowledge, but, more importantly, networks. (You obviously are arleady achieving this with PIPA forum!). I see very different business models emerging over the next few years and a lot of fall out.
    Today, at the Excel Investor Show, someone said, referencing the U.K. property market and interest rates, that "when you put meat in the freezer, it only gets rid of the smell". In other words, the low interest rates have not stopped the rot. I am inclined to agree with this and I think there is a lot more pain to come.
    Hopefully by sharing knowledge and supporting each other, the Tribe can help each other survive. I know you share this philosophy, so thank you for your generosity of sharing your knowledge and supporting others. We can all learn so much from you. x
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    Lisa All comments are for education and information purposes only and do not construe as advice or a financial promotion. No liability is accepted for comments made. If you wish to receive information in an advisory capacity then please contact me about becoming a client. www.keys-mortgages.com

    Lisa,
    Thanks for sharing.
    Based on the timeline it sounds like we meet close to when you were getting started. All I can really remember was it was on the ExCel Centre trade floor for the Property Show. You were getting rolling with options at the time. I was thinking of the meeting Thursday when I was at the ExCel.
    John Corey
    Follow me on Twitter-> https://www.twitter.com/john_corey
    https://www.ChelseaPrivateEquity.com/blog
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    John Corey 


    I host the London Real Estate Meet on the 2nd Tuesday of every month. 11 years and running. If you have never been before, email me for the 'new visitor' link.

    PropertyFortress.com/Events

    Also happy to chat on the phone. Pay It Forward; my way of giving back through sharing. Click on the link: PropertyFortress.com/Ask-John to book a time. I will call you at the time you selected. Nothing to buy. Just be prepared with your questions so we can use the 20 minutes wisely.

    Hi John
    we actually spoke before then! You were still in Oz or was it NZ at the time? I'm trying to think which forum we first 'met' on - was it John Burley's Mastermind Forum or Jan Somers Somersoft Forum? I'm sure it was one of those.
    We spoke for ages about wraps, options etc and said we'd catch up when you came over and that was excel which I think was 2002 or 3?
    Kind regards, Lisa REI said:
    Lisa,
    Thanks for sharing.
    Based on the timeline it sounds like we meet close to when you were getting started. All I can really remember was it was on the ExCel Centre trade floor for the Property Show. You were getting rolling with options at the time. I was thinking of the meeting Thursday when I was at the ExCel.
    John Corey
    Follow me on Twitter-> https://www.twitter.com/john_corey
    https://www.ChelseaPrivateEquity.com/blog
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    Lisa All comments are for education and information purposes only and do not construe as advice or a financial promotion. No liability is accepted for comments made. If you wish to receive information in an advisory capacity then please contact me about becoming a client. www.keys-mortgages.com

    Lisa,
    We did spend a fair bit of time talking about wraps (AITDs), lease options and similar.
    I strongly remember it being at ExCel. Not sure why it is so clear. At the same time a mind can play tricks.
    It was not after being in OZ or NZ as I have never lived there. I had never even been there until 2006. I was living in London at the time but moving up to Chester or had just moved to Chester.
    I arrived in the UK in 1994 from the west coast of the US. Part of what we were discussing was my experience with the above topics for US deals.
    John Corey
    Follow me on Twitter-> https://www.twitter.com/john_corey
    https://www.ChelseaPrivateEquity.com/blog
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    0

    John Corey 


    I host the London Real Estate Meet on the 2nd Tuesday of every month. 11 years and running. If you have never been before, email me for the 'new visitor' link.

    PropertyFortress.com/Events

    Also happy to chat on the phone. Pay It Forward; my way of giving back through sharing. Click on the link: PropertyFortress.com/Ask-John to book a time. I will call you at the time you selected. Nothing to buy. Just be prepared with your questions so we can use the 20 minutes wisely.

    Now that has got me confused!! I must have you confused with someone else John sorry!
    Age and time!!
    But yes I recall our chats at excel certainly.
    KR, LisaREI said:
    Lisa,
    We did spend a fair bit of time talking about wraps (AITDs), lease options and similar.
    I strongly remember it being at ExCel. Not sure why it is so clear. At the same time a mind can play tricks.
    It was not after being in OZ or NZ as I have never lived there. I had never even been there until 2006. I was living in London at the time but moving up to Chester or had just moved to Chester.
    I arrived in the UK in 1994 from the west coast of the US. Part of what we were discussing was my experience with the above topics for US deals.
    John Corey
    Follow me on Twitter-> https://www.twitter.com/john_corey
    https://www.ChelseaPrivateEquity.com/blog
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    0

    Lisa All comments are for education and information purposes only and do not construe as advice or a financial promotion. No liability is accepted for comments made. If you wish to receive information in an advisory capacity then please contact me about becoming a client. www.keys-mortgages.com

    Memory is great that way. No harm done!
    John Corey
    Follow me on Twitter-> https://www.twitter.com/john_corey
    https://www.ChelseaPrivateEquity.com/blog
    0
    0

    John Corey 


    I host the London Real Estate Meet on the 2nd Tuesday of every month. 11 years and running. If you have never been before, email me for the 'new visitor' link.

    PropertyFortress.com/Events

    Also happy to chat on the phone. Pay It Forward; my way of giving back through sharing. Click on the link: PropertyFortress.com/Ask-John to book a time. I will call you at the time you selected. Nothing to buy. Just be prepared with your questions so we can use the 20 minutes wisely.