Classic Car Investments 101, Interview with Daniel Gannon, Co-director of Car-Iconics Ltd.

08/28/19 • 45 min

What’s the best car model to invest in right now?

Having classic cars (or vintage cars) isn’t a big liability at all, as most think. If your investments are already in placed and you’re looking for a new game plan, then look into classic cars.

In this episode of Mark My Words Podcast, Mark chats with Daniel Gannon, the Co-director of Car-Iconics Ltd. Daniel has been passionate and very knowledgeable about cars ever since. Discover everything you need to know today so you can make money and enjoy your passion about cars at the same time.

Mark and Daniel dive deep on the technical stuff--aside from giving financial advice—from learning about what to inspect when looking for cars worth investing to learning about the car market, there’s a lot to learn on this episode.

KEY TAKEAWAYS

The classic car market, since early 2000s, have slowly fell down. Cars right now have become electronic- or technology- heavy.
Putting it in in a bank is also a risk. So, if you’re in a good position with your investment portfolio, it’s okay to put those extra cash on a new car. At least, a classic car’s value grows through time and it’s something you can enjoy at the same time.
How do you make sure you’re buying a high-value car? Do visual and mechanical inspection. And, brands are all the same so it shouldn’t be your first basis.
According to him, the best car is a Mercedes-Benz AMG SL 65 MG V12 (R230). He bought his own of the same model with just £7,000, and it was worth it.
They’re looking on putting more left-handed driven cars because there is a larger demand for them.

BEST MOMENTS

" Definitely, for the last 10 years, you can say that money has never been cheaper. ”
“Look at cars that a re off the radar .”
“You got to love what you buy.”
“It’s important that you buy a car that’s been restored by the right company.”

VALUABLE RESOURCES

Progressive Property
How Many Left? - https://www.howmanyleft.co.uk

ABOUT THE GUEST

Daniel Gannon is the co-director of Car-Iconics Ltd. Daniel’s and his father Stephen’s passion about cars inspired them to start their own brand and in which, they’ve been sharing their knowledge and experience on driving, collecting, racing, and restoration of cars. Aside from these, their business also gives the best advice so you can choose the best car out there which you can not only enjoy driving and owning, but also enjoy its investment potential.

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/

What’s the best car model to invest in right now?

Having classic cars (or vintage cars) isn’t a big liability at all, as most think. If your investments are already in placed and you’re looking for a new game plan, then look into classic cars.

KEY TAKEAWAYS

The classic car market, since early 2000s, have slowly fell down. Cars right now have become electronic- or technology- heavy.
Putting it in in a bank is also a risk. So, if you’re in a good position with your investment portfolio, it’s okay to put those extra cash on a new car. At least, a classic car’s value grows through time and it’s something you can enjoy at the same time.
How do you make sure you’re buying a high-value car? Do visual and mechanical inspection. And, brands are all the same so it shouldn’t be your first basis.
According to him, the best car is a Mercedes-Benz AMG SL 65 MG V12 (R230). He bought his own of the same model with just £7,000, and it was worth it.
They’re looking on putting more left-handed driven cars because there is a larger demand for them.

BEST MOMENTS

" Definitely, for the last 10 years, you can say that money has never been cheaper. ”
“Look at cars that a re off the radar .”
“You got to love what you buy.”
“It’s important that you buy a car that’s been restored by the right company.”

VALUABLE RESOURCES

Progressive Property
How Many Left? - https://www.howmanyleft.co.uk

ABOUT THE GUEST

ABOUT THE HOST

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/

Previous Episode

David Kemp: How to Get Planning Permission to Maximise Profit From BIG Deals

If you’re planning to do a big property development in your area, then this episode of the Mark My Words Podcast is for you. Today, Mark talks to David Kemp, who has over 15 years of experience in planning. Planning is a long process but David will make sure to touch all the topics that are involved—from submitting your application to financing to talking to authorities and the neighbourhood to starting the property development.

Learn more about permitted development rights, the key risk management areas, and dealing with the objections that come from people in the area. It’s important that everyone is well-informed and no one will be so everything will go as smoothly as possible. David also shares some planning challenges he has faced and how he dealt with it so make sure to listen in.

In planning, you have to push the boundaries if you have to.

KEY TAKEAWAYS

Permitted development rights allow you to convert buildings without a planning commission. There’s a process you have to go through first before you enjoy the automatic grant. You have to get the approval of the council after they’ve consulted your immediate neighbours. The neighbours need to be informed about the depth of your extension.
Traditional retail is struggling lately in the country. It’s become difficult to find a space since there is a shortage or the rates are high.
In regards to the right of light, you have to consult a property lawyer for legal advice. Make sure you’re not breaking any laws, so you don’t have to face legal ramifications.
We don’t know what will happen with Brexit and the Bank of England is giving forecasts with what might happen to the UK economy. People now realize opportunities in property investment.
Always think about the risk. Observe before selling. Test if you have to so you don’t lose a big amount of money. Also, note the key risk management areas. For example, in terms of traffics and parking, hire a team member who’s a good parking highway consultant and can work well with your planning consultant. Other things you should take note: flooding, trees, heritage areas, community engagement, viability and marketing.
5 Tips On Meeting Residents and Neighbours

Figure out who the key influencer is in the area and win them over.

Explain what the scheme is about. Make them understand.

Keep your cool. Practise the art of positive communication.
Encourage them to sign feedback forms.
Highlight the benefits for the area.
Speak first to your borough or district members.

BEST MOMENTS

"It’s politically often a lot easier to change the offices at the moment than to change to residential.”
“There’s not much free office space left. The rents are going up.”
“Always ask questions.”
“As developers, we’re not going for the planning process as the academic exercise.”
“So much of the planning is a grey area, and it’s all about where we see if we can push the boundaries.”

VALUABLE RESOURCES

Progressive Property
Mark My Homer Podcast: Mark Interviews David Kemp Development Consultant | Omny | Apple | Stitcher

ABOUT THE GUEST

David Kemp has over 15 years of experience as a planning consultant for both the public and private sectors. He has also worked as a chartered surveyor, Town and Country Planning consultant and as a planning and environmental lawyer. Throughout the years, his expertise has helped developers, occupiers, and local authorities on the legal and procedural aspects of planning.

David Kemp is currently the Director of DRK Planning Ltd.

[email protected]
LinkedIn - https://uk.linkedin.com/in/dkemp

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, as well as 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’:...

Next Episode

How to Scale Up Your Property Business

In this joint episode of the Mark My Words Podcast with The Property Vault, learn how Mark could start and grow his own property business, Progressive Property. From his bedroom alone buying single-lets to a company who has now more than tens of thousands of members, Mark’s journey is something to hear about.

Just like other businesses, Mark and his partner Rob Moore face challenges. Unforeseen encounters are likely to happen no matter what preparations you put in place. Learning, re-evaluating, and tweaking the system when necessary can make the tasks and processes run as smoothly as possible. Progressive Property grew before our own eyes and is now one of the established property investment companies in the UK. Learn more today how they did it so you can do it also, even on your own, when you listen in.

KEY TAKEAWAYS

How important are systems and processes in a property business? It’s difficult to find the best model that will work for your business. So, at the beginning, it’s advisable not to overthink about this—just go with it and you’ll see what the perfect system is for your business as you go along.
Should you own your investment property personally or via a limited company? Mark says to be careful of the high taxes that will be incurred. Consider how small or how big your portfolio is before deciding what’s suited for you. It’s best to ask your accountant or financial adviser.
It’s the planning consultant you approach first, not your architect. You can get more units, prevent inflated prices, and have more interested vendors when the design, which can become inflexible or inefficient for some, is already placed.
Tips on finding the right builder:
Go around the site, look for buildings of the same standards you want, then ask who the builder is.
Take lots of pictures that you can show the project manager.
What are the core things you need to consider when you build systems in a property business?
Establish good relationships (partnerships, teamwork, customer service, etc.)
Be flexible.
Testing in different environments.
Who inspires your business in a daily basis? Warren Buffet and Charlie Munger

BEST MOMENTS

" You need to find the right person for the job. ”
“Test them for 3-6 months working with them reasonably t o see how your personalities fit .”
“There is a risk in responsibility.”

VALUABLE RESOURCES

ABOUT THE HOST

Contact Method