The Problem with Bridging Loans with Toni Gargan and Gary Das

The Problem with Bridging Loans with Toni Gargan and Gary Das

Author: Kevin McDonnell January 23, 2024 Duration: 13:53
Gary Das joins Toni in this episode for a quick but valuable discussion on bridging loans. They discuss what they are, where they might be useful but also reveal the three main reasons you may not want to use them. KEY TAKEAWAYS  Traditionally you would get a mortgage for a property but if you are buying from auction or similar you may need a bridging loan before you can get a mortgage. This is a short-term loan. To be accepted for a bridging loan generally, you will be borrowing against assets, but this doesn’t have to be another property or even the property you are using the bridging loan for. One of the advantages of bridging is the option to either pay an upfront fee or a certain timescale where you don’t have to pay anything yet. There are horror stories surrounding bridging loans, usually when a term has been breached and good advice wasn’t sought out. BEST MOMENTS   "The key thing with a bridge is how does the bank get the money back in the not-so-distant future?” “There are certain instances where you’ll use bridging instead of a mortgage” “The more you know about the properties and the finance side the easier it is to walk in with confidence and do the deals” VALUABLE RESOURCES MSOPI – Multiple Streams of Income: https://www.progressiveproperty.co.uk https://kevinmcdonnell.co.uk ABOUT THE HOST Kevin McDonnell is a Speaker, Author, Mentor & Professional Property Investor. He is an expert when it comes to creative property investment strategies. His book No Money Down: Property Invest talks about how to control and cash flow other people’s property to create financial freedom.   CONTACT METHOD https://www.facebook.com/kevinMcDonnellProperty/ https://kevinmcdonnell.co.uk/ TikTok: https://www.tiktok.com/@progressiveproperty YouTube: https://www.youtube.com/channel/UC0g1KuusONVStjY_XjdXy6g Twitter: https://twitter.com/progperty LinkedIn: https://www.linkedin.com/company/progressiveproperty Instagram: https://www.instagram.com/progressiveproperty/ Facebook Community: https://www.facebook.com/groups/progressivepropertycommunity Facebook Page: https://www.facebook.com/Progperty progressive, property, investing, rent, housing, buy to lets, serviced accomodation, block, auction, home, financial freedom, recurring income, tax, mortgage, assets: http://progressiveproperty.co.uk/

Hosted by investor and educator Kevin McDonnell, The Progressive Property Podcast is a regular source of actionable strategies for navigating the UK property market. This isn't about generic theory; it’s a practical resource dissecting the methods that work for building a portfolio, from foundational principles to advanced scaling techniques. You’ll hear detailed discussions on buy-to-let, flipping properties, and creative strategies like deal packaging, all aimed at constructing multiple streams of property income. The focus is on leveraging knowledge-and often other people's capital-to build assets, emphasising how to move forward effectively even if your own starting capital is limited. Each episode is designed to condense years of experience, helping you avoid common pitfalls and make informed, strategic decisions that save both time and money. For anyone serious about property investment, from taking the first step to systematising a large-scale operation, this podcast serves as a direct line to the nuanced knowledge required for long-term financial freedom. Tune in for candid conversations that cut through the noise, offering the specific skills and confidence needed to progress in the complex world of real estate investment.
Author: Language: en-gb Episodes: 100

The Progressive Property Podcast
Podcast Episodes
Anyone Can be a Progressive Property Network Host with Mike Chadwick [not-audio_url] [/not-audio_url]

Duration: 18:13
Kev is joined by Mike Chadwick in this episode who has been part of the progressive property network for 10 years! Mike talks to Kev about what his journey has looked like and what he has planned for the future. He also…
How to Avoid Nightmare Tenants [not-audio_url] [/not-audio_url]

Duration: 29:29
Kevin and his team share the various tenant issues they have had over the years. They talk about how to defend yourself against bad tenants including why referencing isn’t always enough and reveal the worst tenants they…
Why the UK Recession is Good News for Property Investors [not-audio_url] [/not-audio_url]

Duration: 15:03
The UK is officially in a recession. In this episode, Kev talks about the news and how it may impact you as a property investor. He discusses what might happen with interest rates, the opportunities and creative techniqu…
Title Splitting Masterclass with Rachel Knight [not-audio_url] [/not-audio_url]

Duration: 36:06
Join Kev as he talks to title-splitting expert Rachel Knight. Rachel talks through the implications of the recent announcements by the government that will release positive opportunities for property investors. She also…
How to Flip a House: A Beginners Guide with Scott Wroe [not-audio_url] [/not-audio_url]

Duration: 27:06
Kev is joined by social media expert and property investor Scott Wroe in this episode. They talk about strategies anyone can follow to flip houses as well as the unique ways you can leverage social media in your property…
EVICT EVERYONE! The Newest Government SOLUTION to the Housing Crisis [not-audio_url] [/not-audio_url]

Duration: 17:27
Kevin discusses the newest government idea to solve the housing crisis – to evict everyone! Kevin talks about latest government press release around social housing and gives his educated opinions and thoughts on the poli…
How to Create Wealth Through Property [not-audio_url] [/not-audio_url]

Duration: 52:19
Kevin joins Jessen James on the Mind Over Money podcast to talk about the power of property investing itself, as well as his own personal journey in business, and the part that mind-set has played in his incredible rise…

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