What really happens when a property deal goes wrong—and who should take responsibility?

Matt Morrison returns to the podcast after completing more than 700 property deals. He also revisits a Borders investment that did not go entirely to plan, sharing his perspective on how the strategy changed from buy-to-let to serviced accommodation, why the refurbishment costs increased and what everyone involved could have communicated more clearly.

Using the original deal pack, emails and costings, Matt explains the difference between the initial £15,000 refurbishment estimate and the final cost of £26,260. He also discusses why the property achieved the £90,000 valuation stated in the original deal pack and the lessons he has taken from the experience.

EPISODE HIGHLIGHTS

• How Matt progressed from around ten deals in his first year to more than 700

• Matt’s perspective on a Borders investment that did not go entirely to plan

• How changing from buy-to-let to serviced accommodation affected the refurbishment

• The emails showing a final refurbishment cost of £26,260

• Why clearer communication between the investor, sourcer and builder was needed

• How the final valuation compared with the original deal pack

• The ten deals Matt identified as having gone off plan

• Damp, delays and a break-in at a £25,000 flat

• Why a Home Report could have exposed non-traditional construction in Dundee

• The Edinburgh flat where RAAC was discovered after purchase

• How dry rot turned Matt’s £12,000 refurbishment into a £25,000–£30,000 project

• Why Matt refunded £1,500 after a buyer’s solicitor failed to submit an offer

• Whether property sourcers need stronger regulation

• The title problem that left Matt with approximately £12,000 at risk

• One flat being valued at £65,000, £45,000 and £70,000 within six weeks

• Growing a portfolio towards 40 properties while managing more than 200 rental units

• Why Matt wants to scale his marketing spend to approximately £20,000 per month

• How he decides which deals to keep and which to offer investors

CHAPTERS

00:00 - Meet Matt Morrison

00:38 - How Matt reached 700 property deals

01:50 - Revisiting a Borders property deal

06:20 - What the original deal pack showed

07:14 - Buy-to-let versus serviced-accommodation refurbishment

08:28 - The final £26,260 refurbishment cost

09:55 - Project management and the builder’s unexpected extras

12:00 - What went wrong with communication

16:18 - Why the £90,000 valuation matched the deal pack

20:03 - The ten deals that did not go to plan

21:06 - Damp, delays and a break-in at a £25,000 flat

22:11 - Why Home Reports matter on off-market deals

24:32 - A three-week refurbishment that took 16 weeks

25:41 - The Dundee flat only one lender would finance

29:14 - RAAC discovered after buying an Edinburgh flat

35:57 - Underestimated refurbishments and hidden dry rot

39:01 - Losing two Edinburgh deals and refunding the fee

42:22 - Should property sourcers be more regulated?

44:39 - The Westfield Court buyback

45:52 - Spending £12,000 before discovering a title problem

49:09 - One flat, three completely different valuations

51:37 - Matt’s business today55:01 - Building a 40-property portfolio

56:35 - Scaling marketing to £20,000 per month

59:30 - Why the same deal does not suit every investor

01:01:18 - Does Matt keep the best deals for himself?

01:02:55 - Matt’s advice for new property sourcers

NETWORKING EVENTS

View upcoming speakers and book your ticket:

👉https://scottishpropertypodcast.co.uk/events/

SPONSORED BY

Prime Property Auctions — know someone selling a property? You could earn £1,500 just for making an introduction.

👉 https://primepropertyauctions.co.uk/

💬 What due diligence would you insist on before buying through a property sourcer? Let us know in the comments 👇

Is serviced accommodation really a safer investment than a traditional buy-to-let—or does the potential for higher income come with significantly more risk?

In this listener Q&A, Nick and Steven compare the predictability of vanilla buy-to-let with the fluctuating nightly rates, seasonal demand and contractor-led markets associated with serviced accommodation. They explain why buy-to-let may be “boring” but remains one of the least risky property strategies, while a serviced-accommodation deal can quickly struggle when local demand changes.

They also answer questions about finding off-market deals, funding a first purchase, choosing quality assets over higher-yielding properties, living in a flip, starting a management business and raising private finance. The conversation then turns to property sourcing, who should take responsibility when a deal goes wrong and whether investors should scale or reduce portfolio debt.

EPISODE HIGHLIGHTS
• How to find off-market property deals using paid marketing, social media and networking
• Why Nick and Steven believe serviced accommodation carries more uncertainty than buy-to-let
• The risks of relying on temporary contractor demand and unconfirmed local projects
• Why ten quality assets may outperform 20 cheaper, higher-yielding properties
• Bridging finance versus borrowing from private investors
• Why a first Glasgow buy-to-let could require approximately £30,000–£40,000
• When refurbishment drawings, building warrants and professional designs are needed
• Whether live-in flips offering £50,000–£80,000 profit are still achievable
• Starting a serviced-accommodation management company versus a letting agency
• Why serviced accommodation can produce higher fees but requires a much faster response
• Who should take responsibility when a sourced property deal goes wrong
• The rent, refurbishment and end-value figures every investor should verify independently
• Nick and Steven’s best and worst property deals
• How to find private investors by consistently discussing what you are building
• Whether to keep scaling or reduce debt across an established portfolio

CHAPTERS
00:00 - Nick and Steven answer listeners’ questions
01:06 - How to find off-market property deals
05:13 - Buy-to-let versus serviced accommodation risk
07:50 - Ten quality assets or 20 cheaper properties?
09:02 - Bridging finance versus private investment
09:49 - Prime Property Auctions
10:34 - How much money is needed for a first buy-to-let?
13:38 - When refurbishment drawings are required
15:14 - Are profitable live-in flips still achievable?
17:01 - Buying serviced accommodation with a limited budget
18:14 - Starting an SA management business or letting agency
22:24 - Why serviced accommodation management is more demanding
24:31 - Who is responsible when a sourced deal goes wrong?
27:25 - Contracts, refunds and protecting a sourcer’s reputation
29:17 - Rent, refurbishment and end-value estimates
31:25 - The lack of regulation in property sourcing
37:19 - Nick and Steven’s best and worst property deals
40:23 - A property bought for £47,000 and sold for £95,000
42:11 - How to find private investors
43:16 - Should investors scale or reduce portfolio debt?

NETWORKING EVENTS
First Wednesday of every month
📍 Aberdeen | Dundee | Edinburgh | Glasgow
View upcoming speakers and book your ticket:
👉 https://scottishpropertypodcast.co.uk/events/

SPONSORED BY

Prime Property Auctions — know someone selling a property? You could earn £1,500 just for making an introduction. John and Luis handle everything from the first call to the sale. Over £350,000 in referral fees paid out so far.

👉 https://primepropertyauctions.co.uk/

🔔 Subscribe so you never miss an episode
👍 Like the video if you found it valuable
💬 Which strategy would you choose: predictable buy-to-let income or the higher potential returns of serviced accommodation? Let us know in the comments 👇

Could a self-employed estate agent build a six-figure business without sacrificing the personal service sellers expect?

Fraser Kelly, founder of Kelly Residential, joins Nick and Steven to explain how he moved from corporate sales and property sourcing into estate agency. In five years, the business has grown to an 11-person team with five self-employed agents and six operations staff, while becoming one of the West of Scotland’s busiest offices for new instructions.

Fraser breaks down the numbers behind the model, including monthly costs, commission splits and how agents can generate more than £100,000 in annual revenue. He also shares his view of the Scottish sales market, why some homes are being overvalued, the risks facing Glasgow city-centre flats and what it really takes to succeed in self-employed estate agency.

EPISODE HIGHLIGHTS

• Why Fraser left corporate sales and moved from property sourcing into estate agency

• How Kelly Residential grew to five self-employed agents and six operations staff

• The difference between a personal estate agent and the traditional corporate model

• Why overvaluing a home can leave it sitting on the market for months

• A Clarkston bungalow that sold for £140,000 above its Home Report

• Why new-build incentives make some nearly new homes harder to resell

• How factor fees and cladding issues are affecting Glasgow city-centre flats

• The skills Fraser believes matter more than previous estate-agency experience

• How some agents are generating more than £100,000 a year in revenue

• Why new agents should consider holding six months of savings

• The £350 monthly cost and 50/50-to-75/25 commission structure

• Why Kelly Residential’s average fee is around £2,200

• The discipline and long hours required to make self-employment work

• How Google reviews, social media and AI are changing property marketing

CHAPTERS

00:00 - Meet Fraser Kelly

00:46 - Viral AI property videos and online backlash

03:11 - Why US and Australian estate agents spend more on marketing

03:55 - From corporate sales to property sourcing

05:22 - Moving into self-employed estate agency

08:04 - Why the UK estate-agency model is different

10:33 - Prime Property Auctions

11:58 - Building Kelly Residential

15:05 - Personal service versus the corporate model

20:20 - Scaling without losing service

23:20 - What is happening in the Scottish sales market?

25:19 - Managing sellers’ Home Report expectations

31:07 - A bungalow sold £140,000 above its Home Report

34:10 - The properties struggling to sell

35:30 - Glasgow flats, factor fees and cladding

38:12 - What makes a successful self-employed estate agent?

42:06 - How the Kelly Residential model works

43:16 - How agents can generate £100,000 a year

45:20 - How much savings should a new agent have?

49:07 - Growing from a local office across Scotland

50:47 - Why Fraser is moving into lettings

55:12 - Monthly costs and commission splits

57:16 - Estate-agent fees and the race to the bottom

01:03:10 - The discipline needed to succeed

01:05:16 - Where to connect with Fraser

CONNECT WITH FRASER

Facebook: https://www.facebook.com/FraserKellyResidential

LinkedIn: https://www.linkedin.com/in/fraserkellyresidential/

NETWORKING EVENTS

First Wednesday of every month

📍 Aberdeen | Dundee | Edinburgh | Glasgow

View upcoming speakers and book your ticket:

👉https://scottishpropertypodcast.co.uk/events/

SPONSORED BY

Prime Property Auctions — know someone selling a property? You could earn £1,500 just for making an introduction. John and Luis handle everything from the first call to the sale. Over £350,000 in referral fees paid out so far.

👉 https://primepropertyauctions.co.uk/

🔔 Subscribe so you never miss an episode

👍 Like the video if you found it valuable

💬 Would you leave a salaried role to build your own estate-agency business? Let us know in the comments 👇

From 6 October 2026, private and social landlords across Scotland must follow strict new timescales when damp or mould is reported: investigate within 10 working days, provide written findings within three working days and begin any required repairs within five working days of the investigation.

Paul Newing of PRN Water Services joins Nick and Steven to explain Scotland’s implementation of Awaab’s Law and what landlords and letting agents need to do to prepare. They discuss when the clock starts, who can carry out an investigation, what evidence should be retained and why landlords can no longer dismiss a complaint as “tenant lifestyle” without investigating it properly.

They also examine condensation, penetrating damp and rising damp; ventilation and extractor-fan problems; four-week humidity monitoring; treating mould correctly; repeat complaints; and the complications caused by communal repairs and property factors.

EPISODE HIGHLIGHTS
• The new duties affecting private and social landlords from 6 October 2026
• The tragedy behind Awaab’s Law and why Scotland introduced its own regulations
• The 10-working-day deadline for investigating reported damp and mould
• Providing a written summary within three working days
• Beginning required repairs within five working days of the investigation
• Why landlords cannot immediately blame a tenant’s lifestyle
• How normal living, cooking and drying clothes increase indoor moisture
• Condensation versus penetrating damp and rising damp
• What landlords should check with windows, vents and extractor fans
• Using four weeks of humidity and dew-point data to establish the cause
• Why photographs, emails, reports and a clear paper trail are essential
• What “commencing repairs” means when parts or contractors are unavailable
• How to clean, treat and redecorate mould-affected areas properly
• When recurring problems may not require a complete new investigation
• How communal roofs, gutters and factors complicate landlord compliance

CONNECT WITH PAUL
Paul Newing — Managing Director, PRN Water Services
Website: https://www.prnwaterservices.com/

OFFICIAL GUIDANCE
Scottish Government: https://www.gov.scot/policies/private-renting/housing-standards/

NETWORKING EVENTS
First Wednesday of every month
📍 Aberdeen | Dundee | Edinburgh | Glasgow
View upcoming speakers and book your ticket:
👉 https://scottishpropertypodcast.co.uk/events/

SPONSORED BY

Prime Property Auctions — know someone selling a property? You could earn £1,500 just for making an introduction. John and Luis handle everything from the first call to the sale. Over £350,000 in referral fees paid out so far.

👉 https://primepropertyauctions.co.uk/

🔔 Subscribe so you never miss an episode
👍 Like the video if you found it valuable
💬 Are Scottish landlords ready to meet these new damp and mould deadlines? Let us know in the comments 👇

This episode is for general information only and does not constitute legal advice.

Jordan Kynoch started investing in property at just 23, with no money, no experience and a long-term goal: to build enough freedom to be fully present when he eventually became a father.

Thirteen years later, Jordan owns more than 30 properties across Scotland and Liverpool. The journey involved countless hours on the road, sleeping on building-site floors and using private investment to fund every property purchase—but that hard work now allows him to spend almost every day with his new son.

In this episode, Jordan shares the numbers behind his portfolio purchases and property flips, including a six-title deal bought for £192,500 and a derelict house that generated approximately £80,000 in pre-tax profit. He also explains why he is selling some Liverpool HMOs, how he manages projects across different locations and why straightforward buy-to-lets still form the foundation of his portfolio.

EPISODE HIGHLIGHTS
• Starting in property at 23 with no money or experience
• Why becoming a present father was one of Jordan’s original goals
• The years spent travelling and sleeping on building-site floors
• Building a portfolio of more than 30 properties across Scotland and Liverpool
• Why Article 4 restrictions increased the value of his existing Liverpool HMOs
• The reasoning behind selling profitable HMOs and reinvesting the capital elsewhere
• Why Jordan still believes straightforward buy-to-lets work
• Finding off-market opportunities through owners, neighbours and existing contacts
• Buying six titles in Forfar for £192,500 after negotiating almost £50,000 off the asking price
• Spending approximately £70,000 on the refurbishment and producing around £1,800 in monthly cash flow
• How changing the layouts added bedrooms and increased the value of the flats
• Managing projects remotely using trusted building teams in each investment area
• The derelict Errol house bought for £153,000 and refurbished for approximately £70,000
• Why Jordan marketed the property immediately before Christmas despite agents advising him to wait
• Making approximately £80,000 in pre-tax profit from the six-month project
• How Jordan has funded every property purchase using private investors
• Why he repays investors at the end of each project instead of continually rolling their money forward
• Turning investors away when their requested return makes the deal unworkable
• Why smaller, repeatable projects can produce better results than stressful large developments
• Building The Style & Staging Co as an additional income stream
• Using property staging to help developers, estate agents and homeowners sell
• How becoming a father changed Jordan’s priorities and attitude towards business
• His plans to acquire more portfolios and complete one or two property flips each year

CONNECT WITH JORDAN
Instagram: @the_style_and_staging_co

NETWORKING EVENTS
First Wednesday of every month
📍 Aberdeen | Dundee | Edinburgh | Glasgow
View upcoming speakers and book your ticket:
👉 https://scottishpropertypodcast.co.uk/events/

SPONSORED BY

Prime Property Auctions — know someone selling a property? You could earn £1,500 just for making an introduction. John and Luis handle everything from the first call to the sale. Over £350,000 in referral fees paid out so far.

👉 https://primepropertyauctions.co.uk/

🔔 Subscribe so you never miss an episode
👍 Like the video if you found it valuable
💬 How much would you sacrifice today to create greater freedom for your family in the future? Let us know in the comments 👇

Are property flips still worth pursuing in 2026—or have rising costs and tighter margins made the strategy too difficult?

In this listener Q&A episode, Nick and Steven examine the reality of flipping property in today’s market. With Scotland’s 8% Additional Dwelling Supplement, higher material prices, increased trade rates, bridging costs and tax on the eventual profit, investors now need to buy at a much deeper discount and control every expense carefully.

They explain why straightforward, lower-value flips have become harder to find, while assisted sales, profit-share partnerships with builders, larger renovation projects and properties with potential for layout changes can still produce opportunities. They also answer listeners’ questions about sourcing fees, legal costs, purchasing portfolios, transferring letting agents and business banking.

EPISODE HIGHLIGHTS

• How a previous SPP episode helped a listener reduce his maximum auction bid from £80,000 to £71,000

• Why construction insolvencies and rising trade costs matter to property investors

• How the 8% ADS, materials, labour and finance costs are squeezing flip margins

• Why managing individual trades may be necessary to make the figures work

• How assisted sales can reduce upfront costs and eliminate the ADS

• Partnering with builders through profit-sharing arrangements

• Why bridging delays and collapsed sales can consume the expected profit

• Finding opportunities through architectural design and layout changes

• Why larger family homes requiring major renovation may face less competition

• Why the “low-hanging fruit” £70,000–£80,000 flips are becoming harder to find

• The tax investors must include when calculating their final return

• When a £5,000 or £25,000 portfolio sourcing fee could be justified

• What investors should expect from a £4,000 property sourcing service

• Typical legal costs and the additional charges buyers often overlook

• Why Nick and Steven use multiple business banks

• Due diligence when purchasing a portfolio with an existing letting agent

• Whether Nick should buy or rent his next office

CHAPTERS

00:00 - Listener Q&A and a property deal saved by due diligence

01:37 - Are property flips still viable in 2026?

02:10 - Construction insolvencies and rising trade costs

03:45 - Why flips have become more labour-intensive

04:53 - Assisted sales and profit-sharing with builders

05:46 - ADS, bridging finance and holding costs

07:13 - Finding creative opportunities in the flip market

09:14 - Are the easy property flips disappearing?

10:41 - The time, risk and rewards involved in flipping

11:32 - Tax and first-time-buyer flipping strategies

13:26 - What is a reasonable property sourcing fee?

14:17 - Typical sourcing fees and VAT

15:00 - What should investors receive for a £4,000 fee?

16:46 - Typical legal fees when buying property

17:30 - Business banking and spreading financial risk

19:29 - Buying a portfolio with an existing letting agent

24:30 - Nick’s search for a new office

26:17 - Buying commercial property versus renting

NETWORKING EVENTS

First Wednesday of every month

📍 Aberdeen | Dundee | Edinburgh | Glasgow

View upcoming speakers and book your ticket:

👉 https://scottishpropertypodcast.co.uk/events/

SPONSORED BY

Prime Property Auctions — know someone selling a property? You could earn £1,500 just for making an introduction. John and Luis handle everything from the first call to the sale. Over £350,000 in referral fees paid out so far.

👉 https://primepropertyauctions.co.uk/

🔔 Subscribe so you never miss an episode

👍 Like the video if you found it valuable

💬 Would you still take on a property flip in 2026, or choose a different investment strategy? Let us know in the comments 👇

Amy Russell has built a seven-figure property portfolio—but with her money continually being reinvested, she still describes herself as “skint”.

Her biggest cash-flow scare came from a sourced property bought for £62,500. The refurbishment was expected to cost approximately £20,000 but finished closer to £30,000, with little warning from the project manager. Amy then received an £85,000 valuation—despite the property having a Home Report value of £80,000 before the work began—leaving her needing to find additional money to exit the bridging loan.

Amy shares what she learned from the experience, how she built a portfolio of eight buy-to-lets and one serviced accommodation property, and why she may not purchase another standard buy-to-let. She also discusses property sourcing, guaranteed-rent contracts, her first planned flip and the reality of building assets without always having cash available.

EPISODE HIGHLIGHTS

• How Amy built a medical-device compliance consultancy before entering property

• Why she began investing as a long-term alternative to relying solely on a pension

• Buying her first Hamilton buy-to-let with cash in 2021

• Growing to eight buy-to-lets and one serviced accommodation property

• The sourced property bought for £62,500 against an £80,000 Home Report

• How a £20,000 refurbishment estimate increased to approximately £30,000

• Why poor communication from the project manager created a serious cash-flow problem

• Receiving two £85,000 valuations before successfully appealing to £90,000

• The additional bridging costs caused by the delayed refinance

• Why investors must independently check refurbishment estimates and comparable properties

• Amy’s Byres Road flat bought for £165,000 and later refinanced at approximately £220,000

• Her first planned flip: an £85,000 purchase with a £20,000 refurbishment and targeted value of £140,000–£150,000

• Transforming a heavily damaged South Queensferry property bought for £115,000

• Refinancing that property at £175,000 after spending approximately £30,000

• How a five-year guaranteed-rent contract provides around £1,700 per month

• The pressure tactics some property sourcers use to secure fees quickly

• Why the most expensive sourcing fees do not always come with the best deal packs

• Achieving strong direct bookings and approximately 70%–100% occupancy in serviced accommodation

• Buy-to-let versus serviced accommodation—and why Amy wants more cash flow

• Her ambition to attract private investment for larger commercial projects

CONNECT WITH AMY

Aims Property Group: https://aimspropertygroup.com/

LinkedIn: https://www.linkedin.com/in/amy-russellphd/

Instagram: @aims_property_group

TikTok: @aims.property.gro

NETWORKING EVENTS

First Wednesday of every month

📍 Aberdeen | Dundee | Edinburgh | Glasgow

https://scottishpropertypodcast.co.uk/events/

SPONSORED BY

Prime Property Auctions — know someone selling a property? You could earn £1,500 just for making an introduction. John and Luis handle everything from the first call to the sale. Over £350,000 in referral fees paid out so far.

👉 https://primepropertyauctions.co.uk/

🔔 Subscribe so you never miss an episode

👍 Like the video if you found it valuable

💬 Have you ever had a refurbishment or valuation go badly wrong? Let us know in the comments 👇

Scotland-wide rents have fallen slightly—but some local markets are still recording strong growth. So where is tenant demand holding up, and what should property investors take from the latest figures?

In this August market update, Nick and Steven examine the latest Citylets rental data and Zoopla house-price figures. They discuss why Glasgow’s one-bedroom flats are outperforming the wider market, how rents in Edinburgh, Aberdeen and Dundee compare, and why investors must research the specific area and property type rather than relying on national averages.

They also discuss England’s response to Scotland’s experience with rent controls, the importance of reinvesting in ageing rental properties and whether younger people should buy their own home first—or use that money to build an income-producing portfolio.

EPISODE HIGHLIGHTS

• Why England is reconsidering rent controls after Scotland’s experience

• Scotland-wide rents falling marginally by 0.2%

• Why demand for one-bedroom flats remains strong in Glasgow

• Average one-bedroom rents of approximately £912 in Glasgow and £1,095 in Edinburgh

• Why Aberdeen’s rental growth is now outperforming Glasgow and Edinburgh

• Dundee rents rising by approximately 2.7%

• South Lanarkshire recording 6.4% growth across all property types and 10.5% for one-bedroom homes

• Why national property data can hide significant differences between local markets

• The dated rental properties struggling to compete with refurbished homes

• Why landlords must budget for new kitchens, bathrooms, flooring and ongoing improvements

• Scotland’s house prices rising by approximately 2.8% over the year

• Why Aberdeen remains one of the UK’s few areas recording falling house prices

• Higher mortgage rates reducing buyers’ purchasing power

• Nick’s frustration with property sourcers who ignore clearly defined investor criteria

• Is your own home really an asset—or should younger investors build a portfolio first?

• How one investor built approximately £10,000 in monthly portfolio cash flow before buying his own home

CHAPTERS

00:00 - August market update and summer catch-up

08:27 - Rant of the month: finding suitable property deals

13:01 - Steven’s rant about business and life in the UK

17:37 - Property news and the summer slowdown

19:04 - Why England backed away from rent controls

22:41 - Scottish rents fall by 0.2%

23:22 - Why Glasgow’s one-bedroom flats are bucking the trend

25:36 - Rental growth in Aberdeen, Dundee and surrounding areas

27:14 - Why landlords must reinvest in their properties30:19 - Scotland’s house prices rise by 2.8%

32:12 - Buyer demand, property sales and mortgage affordability

34:11 - Is your own home an asset or a liability?

37:28 - Should you build a portfolio before buying a home?

NETWORKING EVENTS

First Wednesday of every month

📍 Aberdeen | Dundee | Edinburgh | Glasgow

Follow our socials for speakers and details

SPONSORED BY

Prime Property Auctions — know someone selling a property? You could earn £1,500 just for making an introduction. John and Luis handle everything from the first call to the sale. Over £350,000 in referral fees paid out so far.

👉 https://primepropertyauctions.co.uk/

🔔 Subscribe so you never miss an episode

👍 Like the video if you found it valuable

💬 Would you buy your own home first, or use the deposit to build a property portfolio? Let us know in the comments 👇