64


|
MARKETING Media people

www.opp.org.uk
|
JULY 2009
Investor identity
|
Jonathan Willis
has earned the trust of his investor
readers under the Peter Parfait brand
Y
INDUSTR
Adapt or die
Jonathan Willis, AKA Peter Parfait, tells OPP why the days of print media are
numbered, and why property f_i rms need to of_f er non-property investments
A

uctions may have seen a lot success of PAN, I spotted another gap Print media can take up
more activity over recent in the market for writing about buying to 10 days to f_i nalise and
months, as those investors still property abroad,” he adds. “Ten years deliver, by which time some
PEOPLE
active in the property market look for ago, no one was covering property opportunities are long-gone.
discount deals, but Jonathan Willis has opportunities in the emerging Eastern New media delivers instant
been writing about auction bargains European market, the Far East, North communication, requiring
for years. Africa, South America, and yet the instant action, and greater
Author of ‘The Government Auction British investor public were becoming discounts can be of_f ered
Handbook’ during the last recession more adventurous.” through speed of sale.
- which explained how to snap up
bargain properties from bankrupt Word of mouth “It is opinionated, leading, questioning,
companies, those in receivership, Servicing a database of around 30,000 educational, hand-holding and
TION
Customs and Excise, the Police, etc readers per month, built by “press personable. People genuinely really
- he decided to launch a dedicated advertising, mail order, and word-of- look forward to receiving each issue
newsletter called Property Auction mouth”, Jonathan is only interested and absorb its contents immediately.
DESTINA News (PAN) under the pseudonym in content. “I put my products in We’re very selective about who we
Peter Parfait. the hands of a marketing company, take onboard to promote, trying to
“The traders were not very happy at and don’t tend to publish myself,” he sort the wheat from the chaf_f , and not
me disturbing their erstwhile private, explains. “Having created and sold a being compromised by the prospect
secret and lucrative world, so I chose Fleet Street publishing enterprise - and of f_i nancial reward nor advertising
a pseudonym and conducted my experienced being bogged down in revenue. We carry no advertising, but
publicity under that name,” he explains. of_f_i ce administration/fulf_i lment, etc - I purely of_f er recommendations.”
“The newsletter became highly prefer to concentrate on the content Claiming to turn down 90% of
respected, so I stuck with the name, and investigating the deals.” the opportunities presented to him,
and it became a brand. I can’t now Boasting a loyal following, HPA and Willis believes his reputation for
BUSINESS
seem to get rid of it, but I guess I’d have PAN are unlike many other property discernment has helped to build such
to start brand-building all over again.” titles that have to be more generic in a loyal following. He has also identif_i ed
PAN, issued monthly, now has an their coverage – as the reader is often a group of UK buyers who just want
“active and loyal” paid subscriber looking for very specif_i c advice or to know what to buy. “Early on, we
base of over 15,000, as does his Hot recommendations on property deals. “It stopped providing choice, variety
Property Alert. “On the back of the has unique style and voice,” says Willis. and dispassionate comment, because
people could get that anywhere. We
Peter Parfait’s Hot Property Alert
realised that what readers actually
OPER
MAY 2009
wanted was direction. So we became property, anywhere and for all reasons
Jonathan Willis AKA
Property World com), and
I SI’vSeN 1356-4528 encountered a few (the best being the Taj Lake Palace
in Rajasthan). Obviously al this in the name of research, you
understand. How are you supposed to build spa hotels if you don’t
VEL
Doing The Property Rounds c h e c k - o u t t h e l o c a l c o m p e t i t i o n , I a s k y o u ? A l l t h i s h a r d w o r k c a n b e more bold, through experience and and the main criteria is value for
Peter Parfait
q u iiiii t e c h a lllll lllll e n g iiiii n g ..... P a r t iiiii c u lllll a r iiiii f y o u h a v e t o e n d u rPe a m aRn p u t t iiiii n
I’m just back from a simply superb trip over to Thailand, where I O
g h iiiii s
head into a hungry crocodile’s open mouth, a man it was witnessed PER
met a whole bunch of people engaged in the various projects we who displayed only 4 fingers on one hand. And another man whose
TY
APRIL 2009
h a v e g o i n g o n o v e r t h e r e . I a l s o t o o k t i m e t o i n s p e c t a n d p h o t o g r a p h arm was partialy paralysed from
and video the sites we have in development, plus look at some new
ones. And I have brought back for you a variety of eye-wateringly A
a snak
U
e bite, the same type of
Cobra my wife was encouraged to play with. The monkey training
man, however, seemed to be pretty intact, although it has to be said
a t t r a c t i v e d e a l s ,,,,, e x c l u s i v e l y n e g o t i a t e d f o r m y r e a d e r s a t t h e s t e e p e s t that we did feed the monkeys with nuts, and he diCd walk Twith a bIit ON conf_i dence, and now tell people which money,” he says. “Very rarely, and only
DE
discounts I could obtain. We’re talking a minimum of 25% of of a limp. Altogether, not the kinds of experiences you’d get from NEWS
Founder and author of Hot Property Alert
current market values, and there’s beautiful real estate in stunning strolling through Regent’s Park. And not somewhere where British
locations (no hyperbole required). Even a James Bond-style Eagles Health & Safety inspectors go on holiday, mercifully.
Nest-type penthouse thing, which I fell in love with straight away, But, actualy, the nicest Editor’part of my
and nearly bought for myself. And, usefully, they’re all being sold s Notes
recent visit was meting
the people with whom I am engaging on work projects, some of all property investors
at cost price. Close Twhom I have met before and I was delighted to auction to arpr e ofit interested in is getting
Many of my readers will be aware of my love Ther re-visit, buo The Bottom Or Not,e’
s Never Been A Better Time T
t others were new to me. And what isn’t
from down
tr
other
ue.
to
I
the are the best deals around with no holds in exceptional circumstances, do we
(HPA) and Property Auction News (PAN),
affair with Thailand, which began about 3 years great people! Diligent, intelligent, motivated,
know
peoples
and
many
despair
who
ago now. I simply adore it out there (see text on d e d i c a t e d , d e t a i l e d a n d c o m m i t t e d p r o f e s s i o n a l s , ar
landlor
and
e quietly ds
misery
who
, that
have
really
a social
my website where I wax lyrical). And if it wasn’t
It’s eeee i i i i cccc aaaa t t t t eeee , , , , eeee t t t t aaaa i i i i l l l l eeee aaaa cccc oooo i i i i t t t t t t t t eeee r r r r oooo f f f f eeee s s s s s s s s i i i i oooo
o Buy
at times
aaaa l l l l s s s s , , , ,
flike
and payment holidays for distrhelping where they
conscience
rom builders through to Project Managers.
can with reduced
for my children’s scholing in the UK, I’d be property
this that
business,
I think
Al British, oh … andwe Irisarh.e Aso l lucky ex-pats. And But I admit
r
that
essed tenants. ents,
living out there like a shot. In 5 years’ time, I’ll engaged
even to be
in pr
though
fioperty rmly experienced. Anmany d al grpeople
in the
ounded, decent, amount
on a
of
less
self-inter
altruistic level ther
probably move. wonder what I am on about.
or who
fine, honest, gejust nuindon’t
who
e innounderstand
are
vators; people who
not
pr
blighted est in
operty by
not
extensive
wanting
e is also
The climate, the people, the culture, the After all, se round problems before the problem has may pr conditions
numbers
to see
a certain
the
have of
pr
repossessions.
operty market
Curr barred.” ever promote properties at full market
Jonathan writes for, and recommends
food, the value-for-money, the low crime and pr
operty
obably even occurprices set to red, whave ho nevfallen er givedramatically up, who always but
opened ent
we ar up e all some awar amazing
market
buying opportunities,
zero hasle factor, the minimal bureaucratic har fin
fall
d d so
even
to lutions, and whose attention to detai
and
come
further l is are
restriction, the embrace of progress, these are all rby
. stability
e that
emaand
Mortgages ar
rkable. For example, on comple
e . And
the
a
market
ted projects,
sharp
doom and gloom. the press keep feeding
rise
needs
in
a
attractions. That and the business opportunities they were rectifying faults, tiny us
repossessions
minimum level of
detail faults, one’s purposes.
ultimately serves
But
that abound. just
no
Your Editor, photographed this Easter think in on befof ore they’d even been spotted by the owners. The
I know it’s my job to be entrepreneurial, and his very own tropical beach, locpr
it this second
ateoducing
way. If
d on the I was very plasnly surpised. Why? pr
piece
operty of inter
property to, a combined paid subscriber
I’ve honed that skil over the years, but you’d glorious island of Koh Phandownturn
widgets,
you are engaged
gan, Thailand. auctioneers
esting news
people
but because
Bec au s e you c a n’t fi nd t h at mof a ny of t ho s e t y p e of reporting acr But what about going further and value. Almost everything we carry is
h a v e t o b e a n i d i o t n o t t o s p o t 1 0 0 g a p s i n t h e m a r k e t o n a d a i l y b a s i s ,,,, p e o the
stop
p l e iprice
buying exceptional
oss
is that
the Nation ar
n a s q of u a widgets r e m i l e i n L o n d o n , n
your
the
collapses, e v e r
widgets, m i n d a s por a r sif e l y p o p u l a t e d rooms
whether those be property-related, services, hotels, boats or shops. tropgo icabust.
with
inter
l islanPossibly d in the middle of the Gchances ulf of Siarame .you’ll
standing
est,
e
packed
It’s almost as if the room
sales
real
And over there, you just see it, you identify it, and you get on and besrt ecovery
even
people left. I’m sure tha
if buyers,
comes t’s
you not tdo he survive, case, but
when it certainly seemed
and
only,
doors
pr
the
operties
return
you just do it. Whereas over here, there’s much more competition, likethings
you
that to me as I met
r at
for drinks or for dinner each individual prices
flying
of
have
un the
moved
risk of finding that well out of the
prices over
far less opportunity, and a billion pieces of red tape and jobsworths thrand your widgets aroughout my stay. Anon, d notechnology t one of them counterfeit. All credit to well over
the guides, indeed,
at
base of over 30,000 in the UK under the
h a p p y t o g e t i n y o u r w a y. I ’m a c t u a l l y w r i t i n g t o y o u f r o m t h e s o u t h Shaun Murphy of Fareps for finding al these people, and being
their
reserve.
Now
e no longer r
has changed
January
One
of France, where I’m exploring property opportunities yet again. To highly disce
think
sale,
leading
rning. like advising on what not to buy? “I would discounted, and up to as much as 50%.the about
equir
this
commented,
agent, after
price
the
ed.
during “It wasn’t even
employ an office worker down here will cost you €2,000 per month. What wasof
pr
fopr
operty
uoperty
investor
nd to be counterfeit, however, you could purchase or
the
ganising
boom!”
think has
And then you pay another €2,000 to the French government just for almost a“So
fallen,
. Ok, extra and
nywwhat?”
but he
here: Louis Vuiton bags, T
or
ifashe
sales
another
to
agent is
ny jewelery, Chanel in demand.
accommodate
the luxury of employing someone. In Thailand, labour is about £5 puthey’ll
They’ll
rses, Bbuy
just
will
urbeit rry in
buy
scarves, Dior acce
it
sscheaperories. M. y Or
“Investors the surge
a day. In France, business and personal taxes wipe out 70% of your much
a dif carhildren wneed ere
extraordchoice
ferent e potentially to box clever So is this just
inarily as
way
chuffed with their R
.
oTherlex we’s atcjust hes so forgr tweater enty quid, perilous
. These
income. In Thailand, it’s more like 15%. wwe
to how risk a
a
corner?
blip or has
hichenjoy
one
, whenso w
pseudonym Peter Parfait. While HPA
much e got back to Lo
“does
mor ndon, t
prheoperty” y saw on saleto comes
times,
fobe
W
e and r si
honest, gr
but
x grand.
eater with reward. And, ell,
the
U nnnn l l l l i i i i kkkk eeee t t t t hhhh eeee r r r r eeee s s s s t t t t oooo f f f f t t t t hhhh eeee w oooo r r r r l l l l d , , , , T hhhh aaaa i i i i l l l l aaaa nnnn d hhhh aaaa s s s s bbbb eeee eeee nnnn r r r r eeee l l l l aaaa t t t t i i i i vvvv eeee l l l l yyyy i i i i nnnn s s s s uuuu l l l l aaaa t t t t eeee d Prwidget makeretty identical. And I’d al
flexibility
ways coveted a Prada bac
can most
kpabe
we’ve
I
market
think
. than our poor ck
avoided of the obv turned
it’s
turned
too early to
, whichand
ious risks say
modicum cir
from the economic ghastliness that pervades (which, I sense, by the I’ve fAnd, ailed to buy up until now, refusing to be ripped off to the
of cum pr
a
operty
corner
tune
market,
but in
love to be able to report on who to “There seems to be a f_l ight to
when this is a gr
common vented ther theory, for the
eat time to besense
with
. a So, all
way, is on the wane). Growth in Thailand is projected to be over 5% offind
r
£500 in Selfridge
ecession
that s, for something that without the label I can get
in pr in all
pr
lifts, operty developments
e have been
operty will .”
r some positive
bank
ecently
this year, as opposed to a 3.5% contraction in the UK. Properties foarr e forty quid. But I is
our
got exactly what I wanted for … £40. And it bail
including
we’ll
no longer investor outs
are still being built and bought, although at a slower rate than looks like a
need required? Of course
and
well publicised
for Prada
mor, operates like a Prada, and has all thenot.
a
e
long
property righChances t labels to Northern
other
revive the Rock
measur
previously enjoyed, and prices have remained pretty static. Hotel i n a l l t h e r i g time h t p l a c e s . I n f a c t i t p r o b a b l y c a m e o u t o f t h e s a m e f a c t o r y mortgage
to lend
es, like
again,
allowing
apparently
observation
yet.
than
.... If
a
I
fr
may
ee

economy

focuses on worldwide opportunities,
rooms are at capacity (well, 90% occupancy) and whole regions are where they maabout
deliberately can
ke backpacks for Prada, but misquote
provide we look market. intended
via the rear door rather
back at
going upmarket, from 2-star to 3-star over the last few years, and t
it”,
Mark
han tfor
land
he fthe
“They
rontime
on how close, today
the
I suspect
end of that 2009 it that will
(and
t. Thabeing,
just
iland certainly gives gain’t
T
ood fake. , the pr
we’ll
only
get
be when
avoid, but I can only do that privately, quality, with the premier destinations
now onwards to 4-star and 5. Prices are rising too, reflecting this Butflats).
at least,
making
wain’s
operty market is to the bottom.
a proper perspective
what’Developers s not fake is the wa
the
rmtsame
any mor
h of tcan
e
he pbe
of
eopsaid le. I’ve never But in answer
transition from back-packer to honeymoon haunt, but they’re still eGovernment
have of houses
x p er ie nc e d a ntary t h i ng l i k e t h i s. prA netty d I t hwell oug hdowned t t h at t he It a l ia n s wer e suspect not.
to the other question,
“Is this just
e n o r m o u s l y r e a s o n a b l e . A f a b u l o u s m e a l o u t i n a g l o r i o u s b e a c h s i d e building
gets to bring tools and
child-frienan dly.
the
extra
stability Many a blip?” investors, I
restaurant serving the most mouth-wateringly fresh seafood, with years now look like the stuf
230,000 to
As I mentioned, we’ve junits
the pr
ust haa
operty
dyear a bafor
market
by. the Whenext n I say just, I meaby however n cash and
and
other
especially potential
investors
with editorial guides and opinion pieces
drinks, can be had for less than a fiver. sheAs ’s nand ow 7 when months old. Andf of cloud cuckoo land., like I say, she travels like a dreamany m. A “Why
liquid assets, who
not?”
have
After
are looking at property
I h a d a w o n d e r f u l t i m e o u t t h e r e , w i t h t h e w h o l e f a m i l y ; c h i l d r e n r1ecovery 2-hour flight, chthe ange recession in at Bangkok, and a one-hour hop to Samui, a and
all, and
likely
the
to
stock
r
fffff r o m 1 5 d o w n ttttt o 7 m o n ttttt h s ((((( o u r y o u n g e s ttttt iiiii s a d r e a m ttttt r a v e lllll lllll e r ))))) ..... W e fffff e d 6-hour time
pr
doperty
does lift, we can
ifference, and she was as good as
look
gold and adapted
emain
market is thinking extremely
and
forwar
demand.
prices, if d to a for fear of being sued. Suf_f_i ce to say, if suf_f ering less than the peripheral
crocodiles using improvised fishing rods with dead poultry at the e f f o r t l e s s l y. E vT
only because
e n t r y i n g t o b e o b j e c t i v e , s h e ’s
of
a nthe a mefa zfects
bank
volatile
savings
that way still
i n g c h i l d . A n d accounts
for some
finance,
rue, other of supply
end, witnessed the lamest performing monkey show imaginable, the Thaimay
econom
s absodictate
ic principles,
lutely adored her. Seriously, and litand
openly advertising savings rates of 0.1%.are
considerable
now a waste time. of time, And
erally, we couldn’t with some
rode elephants up into the tropical hils through cobwebs with
will
the supply
go abe,
when
nywbut
of
herI
that
e am
recovery
outside the hotel room withooccurs ut Sophand
On
ie being fawned the
banks
other
spiders the size of dinner plates, swam in natural fresh-water believe it will come. Sometime.
prepared to stick
over, by everyone who saw her, whmy
how
etheneck
fast
r theyout
it
be and staff in the hotel
over
hand,
the last property 12-18
swimming pools fed by 100-metre waterfals, endured the crush orNow
state
just ,
that
pin eothe
I
ple on the street, both male and female. Everyone smiled figur
months
yields
es. Although and
have
in
been increasing
TING
complementing a selection of deals in
of a boa constrictor around our stomachs (the kids included), my potentially
meantime,
and wanted to touch her, p
investors
perilous lay with hneed er, evto enbox takeclever her off and show still
savvy
some
have investors
areas are even in
double
a way
wife held a cobra by the tail (she’s used to dangerous pursuits; she rewartheird.
times,
friAnd, ends, which is a littbut to le unwith comfgr
.
oreater
These
table urisk ntil you get useard e comes to we
to
will
ar
fall,
realise
e now
their that property prices
well
common they don’t appear in our media then we locations. I’m sure you can’t sell a
married me, after all), took a jet-sk i around k ilometre-long deserted avoided and cirit. Back in Londo
be
n, shonest, he can’t most understand why everyone is grigneater
beaches, toured islands on a speedboat, snorkelled with the most
cumvented with a modicum of common sense.of the obvious risks oring
further
into a
falls
pr
sense
ocess
will tell them that
becomes and that
hSo, all in all this is a grer. I have t wo older c h i ld ren, a nd t hey ’ve t ravel led exten sican vely,be but Investors morwill e
the
limited
downside scale of
amazing shoals of tropical fish I’ve seen since diving the Red Sea, never have I experienced anything like we did in Thailand. And
be
specif_i c countries, PAN has more of a UK
Now
showered outdoors in thunder storms, got a bit burnt on my baldy it’s all
,
g
two
eat time to be in pr
enuinpieces
takes
thinking, with
e. It’s gof
us
enunews inely genuine. The w
operty near
rightly
each passing
ay the hotel staff treat
er , that each
month.
month
of inter
h e a d , m a s s a g e d b a c k t o l i f e e v e r y e v e n i n g , a n d s t a y e d i n t h e s e c o n d you, test he pto eoP
surfaced
.
ple passing on the beach, t
r
r
ecently
aders, stwhich
each month that passes, the downside risk decr
to the bottom of
the market that passes
all-holders, shop
meaning,
support my optimistic view point.
A N readers and
which,
most gorgeous hotel I’ve encountered worldwide (samui.anantara. people, attendants, and even just peoplsomewhat
will be
e you encoutangentially
They
that
nter along the also
with
know
The first concerns , they
that
can
if
buf
they
fer
can
eases.
buy at low enough
don’t recommend them.” bean in places like Cape Verde and
repossession repossession is figures. To exceptional
themselves prices
1 returns
against future falls now
in
ar
one
e and r
too many
epossessions continue to be a fact of life., but unfortunately
my mind any
we ar forwar
on prices,
e d
their enjoy
to the
money (relatively
speaking)
bias, with more advice led articles and
So
wher
it is
e
per
we
haps
starts.
prospect of futur
e capital and growth look
when
for
a
2008
sliver
came
of good news that
the reported As
recovery
I said earlier
45,000
in at 40,000
originally – some 5,000 less
figur
than
es raw , enthusiasm this is a great time to be in
Lenders.
predicted for 2008
by
the
the
figur
Council
e of
of
this.
being expressed pr
at
operty
property and auctions the
And,
Mortgage Albania at the moment, but Spain,
ARKE
perhaps Whilst
is proof
inter
of
est
repossessions even mor
directory section listing the major auction houses. Jonathan
in
e tarnished, rates are I so would low, and
being
the
surprising,
4th
10,400
quarter there were fewer
and
2008 than in the 3r
d
an investment expect
the stock
to
but it’s always good when the experts ar
11,100 respectively
.
quarter
I’m not , thersur e e why months
incr
see
market
ease,
the popularity somewhat
-
rather
despite than
of
decr
property
ease, over as
Now, although prices.
what the headlines the
to
may
next
some e confounded!
this was,
tell
few
in
us
M
the
about
outside world their
view
Whilst
property
is that
the population
the Nationwide and Halifax House Price Indices, at large are watching news r Value for money France, Italy and Thailand are where eports
about
recently launched a private members club for entrepreneurs
So what are his readers interested in, people are concentrating their ef_f orts
(see www.peterparfait.com) and a free “YouTube-Meets-Dragons-Den” website (www.
and how has this changed in recent and that’s motivated by security and
theideasfactory.com), of_f ering ground f_l oor property opportunities and various alternatives.
months? “Our readers buy all types of familiarity. Developers are also having
Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69  |  Page 70  |  Page 71  |  Page 72