In this episode of the Scottish Property Podcast, we sit down with Michael Paton, founder of MAP Short Stays, to explore his incredible journey from a challenging upbringing to becoming a successful property investor and short-term rental manager.

Michael shares his personal story, from his troubled youth and early brushes with the law to turning his life around and building a thriving property management business. Now managing properties across Scotland, Michael specialises in short-term rentals, particularly in the contractor market, and reveals the systems, processes, and strategies that have allowed him to scale his business successfully.

Episode Highlights:

• Michael’s Early Life:

  • Michael shares his upbringing, where he moved around frequently with his mother, struggled in school, and was expelled twice before being sent to a residential school.
  • He reflects on how his rebellious youth, shaped by peer pressure and a lack of positive influence, eventually gave way to a sense of responsibility and a desire to build a better future for himself.

• Turning Point and Career Shift:

  • After working for nearly 20 years in social care, including roles with at-risk youth and people with mental health challenges, Michael realised he wanted more flexibility to spend time with his family.
  • His first experience as an accidental landlord in 2014 sparked his interest in property, though the traditional buy-to-let model didn’t initially excite him. By 2021, he shifted focus to the short-term rental market, seeing an opportunity in holiday homes and caravans.

• Building a Short-Term Rental Business:

  • Michael discusses how he scaled his short-term rental management business, starting with holiday caravans and lodges and growing into managing a portfolio of properties across Scotland.
  • He explains the importance of having strong systems and processes in place, from automated guest communication to efficient cleaning protocols and contractor management.

• Challenges and Lessons Learned:

  • Michael reflects on the challenges of finding the right business partners and emphasises the importance of thorough due diligence before entering into any business relationship.
  • He also talks about the difficulties of scaling a business and the need for consistent hard work—working 16-18 hours a day, ensuring properties are managed to the highest standard.

• The Contractor Market:

  • Michael has found a niche in managing short-term lets for contractors, offering long-term bookings and consistent income for landlords.
  • He breaks down how to manage contractor bookings, the key amenities contractors look for (e.g., parking and laundry facilities), and how to achieve high occupancy rates.

• Managing Short-Term Let Licences:

  • With Scotland’s evolving legislation on short-term lets, Michael outlines the licensing process and how long it can take depending on the council area.

• Revenue and Profitability:

  • Michael gives a realistic overview of the potential earnings in short-term lets, sharing that a well-managed three-bedroom property can generate around £4,000 a month in gross revenue. He stresses the importance of occupancy rates and setting realistic expectations for returns.

Tune in to hear Michael Paton’s inspiring story of transformation and learn practical strategies for scaling a successful short-term rental business in Scotland!

Follow Michael Paton on Instagram:

www.instagram.com/michaelpatonproperty/ Map Short Stays: www.mapshortstays.com/

Map Short Stays Instagram:

www.instagram.com/mapshortstays/

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In this episode of the Scottish Property Podcast, we chat with Emma Watson, property investor and social media influencer behind “Renovate with Emma.” Emma shares her inspiring journey from a successful corporate career in PR to becoming a full-time property investor. She discusses how she started during lockdown, her experiences with DIY renovations, and the challenges of managing projects with limited budgets. Emma also shares how her social media presence has grown, attracting opportunities and followers who are inspired by her creative, hands-on approach to property investment.

Episode Highlights:

Emma’s Start in Property:

• Emma started her property journey in January 2020, buying her first auction property with her ex-partner just before the COVID-19 pandemic hit.

• Initially, the couple had no experience in DIY, but when lockdown affected tradesmen availability, Emma had to roll up her sleeves and learn skills like plastering to keep the project moving.

Transition from Corporate to Property:

• Emma worked as Head of Communications and PR for THG in Manchester before deciding to leave her corporate job and pursue property investment full-time.

• A combination of personal and professional challenges, including the passing of her sister, led Emma to re-evaluate her priorities and make the bold move to focus on her passion for property.

Creative DIY Projects:

• Emma shares stories of her creative approach to property renovations, including how she sourced free kitchens, upcycled materials, and maximised budgets on her projects.

• Her attention to detail and passion for interior design helped her properties stand out, even landing one of her projects on Channel 5’s “Dream Kitchens and Bathrooms.”

Challenges of DIY and Bridging Finance:

• Emma reflects on the stress of managing projects under tight deadlines with bridging finance during lockdown.

• She also discusses the importance of learning hands-on skills and being resourceful when tradesmen are unavailable.

Building a Social Media Brand:

• Emma’s Instagram account “Renovate with Emma” has grown to nearly 40,000 followers, where she shares her renovation journey, DIY tips, and creative interior design ideas.

• She credits her success to building strong relationships with her audience and focusing on quality content over quantity.

Advice for Aspiring Property Investors:

• Emma encourages new investors to take risks, be resourceful, and find joy in the process, even when faced with challenges.

• She also discusses the importance of developing skills, managing trades, and taking control of project management to ensure successful outcomes.

Tune in to this episode for an inspiring conversation with Emma Watson, packed with valuable insights for both new and experienced property investors. Learn how she transformed her passion for property into a full-time career and built a thriving social media brand along the way.

Follow Emma Watson:

Instagram: @renovate_with_emma

Don’t forget to subscribe to the Scottish Property Podcast for more property tips, expert insights, and inspiring stories from the world of property investing!

In this episode of the Scottish Property Podcast, we are joined by Jerry Alexander, an experienced commercial property investor, to dive deep into the Commercial Multiple Occupancy (CMO) strategy. With over 20 years of experience, Jerry shares valuable insights on how this model works, the benefits of reducing risk with multiple tenants, and the potential for significant cash flow. Whether you’re new to commercial property or looking to scale, this episode is packed with practical advice and strategies.

Episode Highlights:

- Introduction to the CMO Strategy:

- CMO involves renting a single commercial property to multiple tenants who share common areas.

- The model reduces risk by spreading the income across multiple tenants, unlike FRI (Full Repair and Insurance) leases, where one tenant occupies the entire property.

- Benefits of CMO:

- The CMO model provides flexibility, allowing investors to adjust rental prices and quickly fill vacancies.

- It generates better cash flow and reduces vacancy risk, as losing one tenant doesn’t significantly impact overall income.

- Challenges of Managing CMO:

- CMO properties require active management, as investors need to handle day-to-day operations and tenant management.

- Scaling is essential to making CMO more manageable, as smaller properties can become time-consuming and operate like a full-time job.

- Tips for Getting Started with CMO:

- Jerry advises new investors to start with a building that houses their own business, making them both tenant and landlord.

- He suggests looking for properties that are partially tenanted to secure income while completing renovations.

- Financing and Scaling CMO:

- Investors should engage brokers early and explore private finance options for greater flexibility.

- Larger properties tend to generate more profit as they spread operational costs over more tenants, making them easier to manage and scale.

- Common Mistakes to Avoid:

- Jerry stresses that size matters—smaller projects can become a job, while larger ones offer better returns.

- He also warns against neglecting to reinvest in properties, as failing to upgrade can lead to lower rental returns over time.

- Future Projects and Long-Term Goals:

- Jerry shares his passion for historical and character buildings, which he’s focusing on for future projects.

- His goal is to build a property portfolio that runs independently, allowing him to step back from day-to-day operations.

Tune in to hear Jerry’s expert advice on mastering the CMO strategy and learn how to build a profitable, scalable commercial property portfolio!

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Follow Jerry Alexander on Instagram @jerryalexander.commercial for more insights, and check out his Commercial Property Investor Podcast for additional resources and episodes on commercial property investing.