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
7 Tips on How to Flip Properties For Profit [not-audio_url] [/not-audio_url]

Duration: 24:59
How can you flip properties easily and successfully? Listen in to this episode to hear Kevin’s 7 tips of flipping properties for profit. If you are new to this area or have only done one or two property deals this is the…
Raising Finance with Sean & Kevin [not-audio_url] [/not-audio_url]

Duration: 28:46
https://www.progressiveproperty.co.uk/raf/ Sean and Kevin talk about how you can raise finance as a property investor. Kevin shares his decades of experience in raising cash including the two main ways to raise finance.…
How Rent-2-Rent & Deal Packaging Saved Me with Kevin McDonell [not-audio_url] [/not-audio_url]

Duration: 45:16
https://www.progressiveproperty.co.uk/raf/ Sean interviews previous host Kevin McDonnell. Kevin shares his journey from a farm in rural Ireland to becoming a multi-millionaire property investor. He reveals his painful mi…
Is Reform UK the Answer to Britain's Housing Crisis? [not-audio_url] [/not-audio_url]

Duration: 28:17
https://www.progressiveproperty.co.uk/raf/ Sean and Kevin discuss Reform UK party's housing policies as the UK approaches local elections. They challenge you to question your political allegiances and examine how Reform'…
Real Estate, AI and How it Affects the Property Investor [not-audio_url] [/not-audio_url]

Duration: 44:18
https://www.progressiveproperty.co.uk/raf/ Kevin switches roles as he's interviewed by Miha "MJ" Jain, a university student researching artificial intelligence and virtual reality in real estate. They talk about how AI a…
Is Now a Bad Time to Invest or a Golden Opportunity? [not-audio_url] [/not-audio_url]

Duration: 26:29
https://www.progressiveproperty.co.uk/raf/ Sean and Kevin tackle the burning question: is now a bad time to invest or a golden opportunity? Kevin shares contrarian wisdom about market timing, revealing why professionals…
How to Protect Your Portfolio Against Economic Uncertainty [not-audio_url] [/not-audio_url]

Duration: 30:27
https://www.progressiveproperty.co.uk/raf/ Sean and Kev explore tactics for protecting your property portfolio, including creative financing methods and overlooked opportunities. Whether you're an experienced investor or…
Mindset & Conformity - Change Your Life Forever [not-audio_url] [/not-audio_url]

Duration: 39:26
https://www.progressiveproperty.co.uk/raf/ Sean reflects upon the reasons why people might be stuck where they are and unable to move on to success. By sharing his deeply personal, but empowering story, he explains how y…
Sean's Success Stories: Get Out of Your Own Way with Willie Peterson [not-audio_url] [/not-audio_url]

Duration: 49:24
https://www.progressiveproperty.co.uk/raf/ Sean interviews Willie Peterson, who learnt how to get out of his own way by training with Progressive. Willie shares how his life changed after meeting Kevin McDonald at a Prog…