In this episode of Lazy Wealth Creation, Carl shares a candid review of their journey with Progressive Property, a UK-based property investment training organisation. The discussion begins with Carl's initial struggles in the property market, including poor credit and a lack of knowledge, leading to their first encounter with Rob Moore, a prominent figure in the field. The host recounts attending various courses, particularly the BRRR (Buy, Refurbish, Rent, Refinance) training, which ignited their passion for property investment and provided valuable insights into deal sourcing and financing options. They also delve into the structure and benefits of the Progressive Academy, highlighting the importance of mentorship and accountability in achieving financial success. Additionally, the episode covers the host's experience as a Progressive Property Network (PPN) host, emphasising the value of networking and community support in the property investment journey. Overall, the episode serves as an honest reflection on the transformative impact of Progressive Property on the host's life and career.

KEY TAKEAWAYS

1. Value of Education and Networking : Attending property courses, such as the BRRR program, can provide essential knowledge and networking opportunities that are often not available through traditional education. Engaging with experienced mentors and peers can significantly enhance one's understanding of property investment.
2. Understanding Market Dynamics : The course highlighted various reasons why properties may be sold below market value, such as personal circumstances of the sellers. This knowledge can help investors identify lucrative opportunities in the property market.
3. Leveraging Resources : The concept of "no money down" investing was introduced, emphasizing that individuals can connect with those who have capital but lack investment opportunities. This approach encourages collaboration and resourcefulness in property investment.
4. Importance of Accountability : Joining an academy or mentorship program provides ongoing support and accountability, which can be crucial for success. Regular check-ins and guidance from mentors can help individuals stay focused and motivated on their investment journey.
5. Diverse Opportunities in Property : The Progressive Property Network (PPN) offers various strategies for entering the property market, including deal sourcing, HMOs, and commercial conversions. Engaging with local PPN events can provide valuable insights and connections for aspiring property investors.

BEST MOMENTS

1. "What we're going to do each episode is we're going to review all of these different gurus and their different programs that we've actually, I personally have attended."
2. "I was like, wow, I did not realize that. And then I came on to the, you know, But I've got no money and they're like, yeah, you've got no money, but you've got stuff that other people are interested in."
3. "For me, the academy was a game changer, but what it does give you is the opportunity to take the day off work and just focus on how can I be financially successful."
4. "If you're going to pay somebody 10 grand to go on Academy, and there are mentors there, you best listen to them. Please listen to them. Do what they say."
5. "Overall, I would say in balance that Progressive lit a fire under my bottom that got me moving in a direction I needed to travel."

Meet Carl Mannion, the warts-and-all host of the "Lazy Wealth Creation Podcast." From a council estate to self-made millionaire, Carl's journey is both humorous and inspiring. Despite describing himself early on as "autistic, poor, and hungry," he now proudly identifies as "autistic, doing-well, dadbod."

Through candid interviews, Carl shares the highs and lows of his journey, offering invaluable insights into overcoming adversity and seizing opportunities in the world of wealth creation. Despite facing challenges like a marriage breakdown and single parenthood, Carl persevered, achieving millionaire status in his 40s.

Join Carl on the "Lazy Wealth Creation Podcast" for practical advice and entrepreneurial wisdom. Whether you're starting from scratch or aiming for greater heights, Carl's relatable story and guidance will inspire you on your journey to financial success.

In this episode of the Lazy Wealth Creation podcast, Carl delves into the world of banking and financial services, focusing on five prominent bricks-and-mortar banks: Lloyds, HSBC, Nationwide, Barclays, and Halifax. Drawing from personal experiences, the host shares insights into the pros and cons of each bank, highlighting customer service, ease of account setup, and overall user experience. Listeners will hear both positive and negative anecdotes, including the efficient service provided by Lloyds for new accounts and the frustrating challenges faced with HSBC and Barclays during account transitions. The episode aims to educate listeners on navigating personal and business banking, while encouraging feedback and engagement from the audience.

KEY TAKEAWAYS

1. Lloyds Banking Experience : Lloyds is generally praised for personal banking services, including a user-friendly app and good customer service. However, there are significant issues when it comes to changing account signatories, which can lead to frustrating delays and breaches of privacy.
2. HSBC 's Mixed Performance: While HSBC has been effective in setting up new accounts and facilitating overseas payments, the process of transferring account ownership has been slow and problematic, taking up to 15 weeks. Ongoing issues with accessing commercial cards have also been highlighted.
3. Nationwide 's Limitations: Nationwide is recognized for its strong personal banking services but does not offer business banking accounts anymore. Their personal accounts come with benefits like free travel insurance, making them appealing for individual customers.
4. Barclays ' Inefficiency: Barclays has been criticized for poor customer service, particularly in the business banking sector. The process of opening a business account was described as chaotic, leading to lost business opportunities due to their inefficiency.
5. Halifax 's Strength in Mortgages: Halifax is noted for its excellent customer service in residential mortgage processing. The efficiency and responsiveness of their mortgage team, along with favorable credit card experiences, make them a reliable choice for personal banking needs.

BEST MOMENTS

1. "From a personal banking perspective, I actually think Lloyds are pretty good... Their app is good. You can do a lot of different transaction searches."
2. "Lloyds are great if you're opening up an account from scratch, but they are absolutely awful... for changing accounts over from one director to another."
3. "HSBC took, I think it was about 15 weeks to change over from one director and shareholder to another... there's a huge disconnect there."
4. "Barclays were quite overzealous... they sat her down in this private room... and in the end, she had to go yelling at them, why are you trying to stop me from getting my money into my business?"
5. "Halifax's residential mortgage process is super... customer service is excellent, but from a Residential mortgage perspective they were absolutely phenomenal."

VALUABLE RESOURCESHOST BIO

Meet Carl Mannion, the warts-and-all host of the "Lazy Wealth Creation Podcast." From a council estate to self-made millionaire, Carl's journey is both humorous and inspiring. Despite describing himself early on as "autistic, poor, and hungry," he now proudly identifies as "autistic, doing-well, dadbod."

Through candid interviews, Carl shares the highs and lows of his journey, offering invaluable insights into overcoming adversity and seizing opportunities in the world of wealth creation. Despite facing challenges like a marriage breakdown and single parenthood, Carl persevered, achieving millionaire status in his 40s.

Join Carl on the "Lazy Wealth Creation Podcast" for practical advice and entrepreneurial wisdom. Whether you're starting from scratch or aiming for greater heights, Carl's relatable story and guidance will inspire you on your journey to financial freedom.

In this episode of Lazy Wealth Creation, Carl delves into the world of challenger banks, providing an honest review of five notable options for setting up a business account. They discuss their experiences with Tide, Revolut, Zempla (formerly Cash Plus), Monzo, and Starling, highlighting the strengths and weaknesses of each bank. From user-friendly apps and invoicing features to customer service challenges and account restrictions, the hosts share valuable insights for entrepreneurs looking to navigate the banking landscape. The episode emphasizes the importance of diversifying banking options to mitigate risks and ensure smooth business operations. Tune in for a comprehensive overview that aims to educate listeners on making informed banking choices for their businesses.

KEY TAKEAWAYS

1. Challenger Banks Overview : The episode discusses five challenger banks in the UK—Tide, Revolut, Zempla (formerly Cash Plus), Monzo, and Starling—providing insights based on personal experiences with each.
2. Tide 's Strengths and Weaknesses: Tide is praised for its user-friendly app, invoicing capabilities, and the ability to set up a limited company for free. However, it has significant drawbacks, including poor customer service and account restrictions due to anti-fraud checks.
3. Revolut 's Reliability: Revolut is considered a solid option for property-related transactions, offering helpful customer service and weekly transaction summaries. However, it has been noted that accounts can be closed without notice, so diversifying banking options is advisable.
4. Zempla 's Unique Features: Zempla (Cash Plus) is highlighted for its ease of use, especially for businesses dealing with cash payments, as it allows cash deposits through the post office. However, customer service response times can be slow.
5. Monzo and Starling Limitations : Monzo is criticized for its slow account opening process and poor customer service, making it less favorable. Starling is recommended for small businesses but may not be suitable for those with multiple businesses or in the property sector due to account restrictions and a lack of understanding of the property market.

BEST MOMENTS

1. "The actual app, when you're using Tide, is quite user-friendly. The features on the app that you will be able to get hold of, they're actually quite useful, too."
2. "One of the disadvantages of Revolut, I would say though, is the time it takes to open the account and the time it takes to go through security verification."
3. "The drawback on Cash Plus Zempla is you have to log out of everything and then go back and start the whole process again. You can't just switch between accounts."
4. "Monzo has been one of the longest times to open a challenger bank account out of all of the accounts that we're going to review."
5. "Starling is very good if you have an account. But if you are a multiple business operator, they can be an absolute nightmare to deal with."

VALUABLE RESOURCESHOST BIO

Meet Carl Mannion, the warts-and-all host of the "Lazy Wealth Creation Podcast." From a council estate to self-made millionaire, Carl's journey is both humorous and inspiring. Despite describing himself early on as "autistic, poor, and hungry," he now proudly identifies as "autistic, doing-well, dadbod."

Through candid interviews, Carl shares the highs and lows of his journey, offering invaluable insights into overcoming adversity and seizing opportunities in the world of wealth creation. Despite facing challenges like a marriage breakdown and single parenthood, Carl persevered, achieving millionaire status in his 40s.

Join Carl on the "Lazy Wealth Creation Podcast" for practical advice and entrepreneurial wisdom. Whether you're starting from scratch or aiming for greater heights, Carl's relatable story and guidance will inspire you on your journey to financial freedom.