Henry Smith: From Building Hostels to Multi-Million £££ Penthouses

Today, Mark interviews Aitch Group’s head property developer, influential in the development of over 2500 homes and expert in private housing, Henry Smith. Mark and Henry discuss in detail why property investment is the perfect opportunity for entrepreneurs and share with you the tools you need to be successful in today’s turbulent market.  KEY TAKEAWAYS  Property investment. This is the best investment you can ever get into because the business plan is already there and the buildings are already there, all you need to do is just spot the right one for you that you can refurbish and maybe rent it out or sell it out and make a lot of money, either office apartments or homes.  Why do you hold the properties? You can decide to hold your property because the world is always changing and a lot of people are looking for homes, office space and many more, and then you can wait for the right time to sell your property, and this is when the market price is very high so that you can make huge amounts of money.  What do you need to succeed in property investment? There is a need for the best management there could be because poor management of these properties, poor refinancing, poor attitude, all these can result to you as a business making poor decisions and very huge losses.  Training and seminars. And this is not only for property investment, but it runs through all businesses. If you want to succeed in your business, you need to be trained on what your business should entail, and you should look for people who have done your business and succeeded in it.  Another way to succeed in property investments such as buildings is all about working with the right developers. Having the right team with you and people that you are able to work with throughout, what they can build and how quickly you can build it.  Investing in property is very advantageous because you get to travel the world, meet a lot of people and make lots of money.  Hold property wherever financially you can, it's a great asset, both commercial and residential in the right location. If you've got a commercial unit lockup, perhaps, in the middle of nowhere, that is very hard to let, then don’t do that.  Good management is the root of a successful business. If you have the best management in your business, then you're going to be successful in your business because good management prevents misuse of resources and other things in the business.  BEST MOMENTS  “Don’t think of now, think of 10 years' time, think of the future because once you build that building, you can't wake up tomorrow morning and decide to demolish it again and start building it again.”  “You lose a lot of money when people don't put any skin in the game.”  “If you don't sell, you don’t earn.”  “Plan for the worst and hope for the best.”  "Borrow as much as you can is the worst advice you could ever receive. Borrow money when there is a need for money."  “You need to learn from your mistakes but don’t repeat the mistake twice.”  VALUABLE RESOURCES  https://www.standard.co.uk/business/secrets-of-my-success-henry-smith-boss-of-london-housebuilder-aitch-group-a3731706.html  ABOUT THE GUEST  Henry Smith is the boss of property developer Aitch Group, a private house building firm founded in 1995 which has built more than 2500 homes. Being able to provide homes and employment opportunities in the area that he grew up in is a real win for him.  ABOUT THE HOST  Mark Homer is an entrepreneur investor.  He has worked with investment since he was 15 years old using the laws of wealth! He is a spreadsheet analyst with an impressive following from major publications including BBC Radio, The Wall Street Journal, The Independent, and co-authoring the UK’s best-selling property books.  Mark has always looked for the best investment vehicle, and at the end of 2007 with Rob Moore the co-founder of Progressive Property his joint portfolio produced more profit than any of the other investments he’d tried in the last ten years, combined.   CONTACT METHOD  Email: [email protected]   LinkedIn: https://www.linkedin.com/in/markhomer1   Facebook: https://www.facebook.com/markprogressive   Twitter: https://twitter.com/markprogressive   ‘Brought to you by Progressive Media’: https://progressivemedia.uk/