In this episode of the Scottish Property Podcast, Nick and Steven sit down with Clark Adam, a 69-year-old property investor with one of the most fascinating life stories ever featured on the show. From growing up as a self-confessed “Ned” in Glasgow’s Cardonald, to joining the army at 15, to spending 25 years overseas protecting UK diplomats in some of the world’s most dangerous countries — Clark’s journey is anything but ordinary.

After realising his pensions wouldn’t cover retirement, Clark began investing in buy-to-lets in 2008. Fast forward to today, he owns a high-cashflow portfolio in Montrose, earns close to £10,000 per month, and is part of an elite property group where only investors netting over £100k annually are allowed in. His favourite strategies now include serviced accommodation, long-term corporate lets, purchase with delayed completion, and upcoming moves into M&A and hotels.

This episode is packed with wisdom, wild stories, and truly unique insights into risk, discipline, and building wealth later in life.

🎙️ Episode Highlights

🌟 From Glasgow “Ned” to Army Captain
Clark grew up in Cardonald as part of the local gang “The Cardi”.
Joining the army at 15 became his escape route — providing discipline, structure, and strong role models.
He went on to become the Army Junior Squash Champion, played for the army, and was later sponsored for Sandhurst.
A 14-week pre-Sandhurst programme taught him etiquette, culture, and public speaking — all funded by the taxpayer.

🏘️ Starting Property to Fix a Pension Gap (2008)
Clark began buying affordable buy-to-lets in Montrose, identifying early growth potential due to the deep-sea port and new bypass to Aberdeen.
Properties were purchased for around £60,000, but early returns (£250–£300/month) weren’t enough — triggering his shift into property education.

📚 £40,000+ Invested in Property Education
Clark completed high-level training including Simon Zutshi’s masterminds.
He believes every penny (plus the travel and hotel costs) has been worth it.
Education accelerated his income from accidental landlord…
…to joining a club where members must net £100k per year.

🏠 Serviced Accommodation & 5–10 Year Corporate Contracts
Serviced accommodation became Clark’s strongest strategy:
One 3-bed Montrose property bought for £68,000 now earns £3,500 per month from wind farm contractors.
He prefers long-term contracts with contractors, social housing providers, and insurance companies to eliminate tenant turnover.
All his properties sit within the same DD10 8 postcode, making management effortless through his own local team.

⚡ Why Montrose Is a Hidden Investment Goldmine
Montrose is now a major hub for the North Sea wind sector.
The construction of 72 new wind farms (Inchcape) brings huge contractor demand.
Many workers prefer Clark’s properties over hotels for comfort and space — a major competitive advantage.

🔧 Other Strategies: Rent-to-SA, Lease Options & PDC
Clark has completed:
• rent-to-SA
• converting BTLs into SA
• purchase with delayed completion (PDC) — Scotland’s version of a lease option
With PDC deals, he controls and refurbishes properties before final purchase.

💰 The £100k Club — and Next Goal: £200k
Clark currently nets around £9,444 per month, slightly below £100k due to rising interest rates.
His next milestone?
The £200k Club, achieved through scaling serviced accommodation and long-term corporate leases.

🏨 Next Moves: Hotels, Blocks of Flats & M&A
Clark is now eyeing larger acquisitions, including:
• hotels
• blocks of flats
• major M&A opportunities in Scotland and England
He’s inspired by peers already doing multimillion-pound deals.

In this episode of the Scottish Property Podcast, Scott sits down with Portolio — Scotland’s specialist estate agency dedicated to selling tenanted properties. Since 2017, Portolio has carved out a unique position in the private rented sector by staying niche, focusing solely on tenant-in-situ sales, and championing transparency across the industry. In this conversation, Portolio breaks down how the market has shifted in 2025, why so many long-term landlords are exiting, and what serious investors truly look for today. From yields 📈 and fixed pricing, to MDR savings 💷, portfolio deals 🏘️ and industry ethics, Portolio gives a clear and honest look at what “fair sale price” means in the current market.

🎙️ Episode Highlights

🏡 How Portolio Built a Niche in Tenanted Property Sales

• Launched in 2017 when tenant-in-situ sales were still uncommon

• Built the business by staying niche, consistent and transparent

• Focused solely on tenanted sales to build trust with investors and landlords

👵➡️👨‍💼 Why Landlords Are Selling & Who’s Buying in 2025

• Most landlord exits are driven by retirement after 20–30 years of ownership

• Younger, more professional investors are now rapidly taking over the PRS

• Buyers increasingly use limited companies to scale portfolios

💰 Pricing, Yields & Setting Realistic Expectations

• Portolio avoids inflated valuations and uses evidence-based pricing

• Long-term stagnant rents can impact achievable yields and sale values

• Some properties require rent reviews before a sale can succeed

📌 How Fixed Pricing Speeds Up Sales

• Fixed price avoids confusion and unrealistic offers

• Serious investors act quickly when yields and numbers are clear

• Many buyers now expect upper-6% or 7%+ gross yields due to lending conditions

🧾 Why Proper Due Diligence Matters

• Full compliance documentation is prepared before listing

• Buyers get tenancy info, safety certs and rent statements upfront

• Prevents surprises like arrears, missing paperwork or access issues

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In this episode of the Scottish Property Podcast, Nick and Steven sit down with returning guest Davy Hutton, known for his outspoken views on politics, economics, AI and society. What begins as a conversation on Budget 2025 quickly evolves into one of the broadest and most thought-provoking episodes ever recorded on the podcast.

Davy breaks down the 2% tax hit on rental income and dividends, explains why the middle class feels squeezed, and discusses how global corporations and AI are reshaping wealth, work and the future of the property market.

🎙️ Episode Highlights

🟦 Budget 2025: The Real Impact on Landlords

• The feared 8% rental income tax didn’t appear, but a 2% rise in dividend tax will affect landlords using limited companies.

• For most small investors, this equates to roughly £700 per year.

• Electric vehicle incentives are being scaled back, including the loss of 100% first-year allowances and mileage tax changes.

• Mansion tax proposals pose little risk to Scottish investors.

• Davy’s verdict: “A nothing-burger budget — lots of noise, minimal change.”

🟦 Why the Economy Feels Worse Than the Data Says

• Most business owners have rising net worth, yet life feels harder for ordinary people.

• Middle-class households face invisible pressures through stealth taxes and inflation.

• Public services are worse despite higher contributions.

• The UK has spent nearly two decades in economic stagnation, draining energy and optimism.

🟦 Corporations, Power, and the Real Drivers of Inequality

• Global corporations avoid tax at levels no individual could.

• Tech giants influence public opinion through social media algorithms and news ownership.

• Anger is directed at “easy targets” like landlords instead of corporations.

• Governments lack the power to meaningfully challenge corporate dominance.

🟦 Scottish Property Market Overview

• Scotland has cooled from 10% over Home Report to around Home Report value.

• Market correction is gradual rather than a crash.

• The high-end market (£1m+) is softening significantly.

• Glasgow rents have plateaued and fallen slightly in some areas.

• Expected interest rate cuts should stabilise pricing through 2025.

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In this episode of the Scottish Property Podcast, Nick and Steven sit down with John Blackwood, Chief Executive of the Scottish Association of Landlords (SAL), who has spent nearly 25 years representing landlords across Scotland.

John brings unparalleled insight into the private rented sector (PRS), the political pressures landlords face, and the complex legislative landscape shaping housing today. From rent controls to the Housing Scotland Bill, ADS reform, empty homes, and the moral debate surrounding private renting, this conversation offers one of the most balanced and honest breakdowns of Scotland’s housing challenges — directly from someone on the front line.

Episode Highlights:

🌟 Changing Perceptions of Landlords

• John reflects on how society’s view of landlords has shifted dramatically over generations.

• Renting was once seen as responsible long-term planning — now landlords are often unfairly painted as “greedy” or “immoral”.

• He emphasises that 95% of Scottish landlords own just one or two properties and are ordinary working people, not large-scale investors .

🏛️ Why the Scottish Association of Landlords Was Formed

• SAL was created after early HMO legislation left landlords feeling unsupported and unheard.

• The Scottish Government itself requested a single representative body to balance discussions around landlord and tenant rights .

• SAL’s mission has always been to represent both sides fairly, not favour landlords.

⚠️ Challenges Facing Today’s Landlords

• The sector is experiencing legislative overload, with continuous rule changes forcing many small landlords out of the market .

• Financial pressures are rising: tax changes, potential National Insurance on rental income, and increasing compliance demands.

• John highlights how the constant policy churn creates instability and discourages investment.

📉 Rent Controls, Supply Shortages & Market Impact

• John discusses the rent freeze/rent cap and the unintended consequences it created.

• Evidence from Zoopla and international studies shows rent controls:

  • Reduce supply

  • Deter investors

  • Ultimately increase rents — exactly what happened in Scotland

• With controls now lifted, rents are beginning to stabilise as the market self-corrects.

⚖️ The Landlords vs Tenants Narrative

• John expresses frustration with the media and political framing of landlords as “the bad guys”.

• Argues that landlords and tenants want the same core things:

  • Safe, warm, affordable homes

  • Good relationships

  • Stability in the PRS

• Says the current political climate encourages division instead of solutions .

🏘️ Empty Homes, ADS & Policy That’s Worsening Supply

• John highlights the flaws in Additional Dwelling Supplement (ADS):

  • Penalises landlords purchasing empty or uninhabitable homes

  • Discourages buying tenanted properties

  • Slows down opportunities to bring homes back into use

• Proposes simple reforms: exempting purchases of empty homes and rented homes from ADS — a cheap, immediate supply solution.

🏛️ The Housing Scotland Bill & Political Ideology

• Discussion around how the Bill is influenced by ideology rather than evidence.

• John shares experiences with politicians who claim that being a landlord is inherently “immoral” .

• Emphasises that removing landlords doesn’t solve the housing emergency — it makes it worse.

In this episode, Nick and Steven sit down with Scott McFarlane, property investor, serviced accommodation specialist, and founder of Retrofit Properties. Scott opens up about his journey from a difficult childhood to military service, railway engineering, a life-changing accident, and eventually scaling a thriving SA management company and a growing property portfolio.

🎙️ Episode Highlights:

🌟 From a Tough Start to Army Discipline

• Grew up in Galashiels facing violence, instability, and school expulsions

• Joined the Royal Regiment of Scotland, gaining structure, discipline, and resilience

• Army experience shaped his mindset and approach to business

💥 The Accident That Changed Everything

• Suffered a major railway accident while working as an electrical engineer

• Forced into recovery, triggering a life reset and deep focus on long-term goals

• Used the setback to pivot fully into property

🏡 Building Retrofit Properties & Discovering SA

• Bought his first properties in his early 20s

• Learned SA through self-study, research, and hands-on experience

• Now operates high-performing SA units achieving £12k–£13k in peak months

📑 Navigating SA Licensing & Compliance

• Expert at securing SA licences across Glasgow, Edinburgh, and Midlothian

• Helps investors avoid common mistakes in planning and compliance

• Challenges councils when their own rules are unclear or applied incorrectly

🏘️ Scaling to 13 Units & Major Deals

• Owns a mix of SA, HMOs, and buy-to-lets

• Completed a £1.7m building purchase with Kyle Black, now valued higher

• Growing a management business, strengthening partnerships, and planning future aparthotel projects

Scott’s story is raw, honest, and packed with lessons — from overcoming adversity to navigating licensing, building strategic partnerships, and managing 13 units (including HMOs, buy-to-lets, and high-performing SAs). He also shares the realities of dealing with councils, neighbours, compliance challenges, and the rapid growth of his management business.

In this episode, Nick and Steven sit down with Wullie Thomson — entrepreneur, former dairy business owner, and now full-time property investor. Willie shares his inspiring journey from humble beginnings in Shotts to building one of Scotland’s largest independent milk delivery businesses before moving into the property world.

🎙️ Episode Highlights

From Milk Rounds to Millionaire Mindset

• Grew up in Shotts, North Lanarkshire, and left school without qualifications

• Worked multiple jobs from a young age — including food delivery, labouring on sites, and driving taxis

• Bought a small local milk delivery round at age 23 with around 350 customers

• Scaled the business into a Scotland-wide operation with five depots, 85 staff, and 60 delivery vehicles

• Focused on reusable glass bottles and local service to stand out from supermarket competition

• Introduced innovations such as direct debit payments and door-to-door canvassing, dramatically boosting efficiency and revenue

Building and Exiting the Dairy Empire

• Grown organically over more than a decade through acquisitions and community-focused marketing

• Expanded across the Central Belt, Perth, and Aberdeen

• Operated 24/7 with a full management structure including operations, HR, and sales teams

• Introduced a delivery charge model that significantly increased profits

• Successfully exited the business through multiple sales to other dairies

• Transitioned from daily operations to pursuing new ventures and a better work–life balance

Starting Over in Property

• Entered property investment after selling the dairy business, looking for a new challenge

• Faced early setbacks:

  • Lost £40–£50k on a piece of land due to flood risk oversight

  • Lost £35k on a hotel deal with offshore ownership complications

• Joined Steven’s property training to build knowledge, structure, and network with other investors

• Determined to grow his property business using the same grit and determination that built his previous success

First Major Project – Arbroath Townhouse

• Purchased a six-bedroom townhouse for £71,000

• Initially budgeted £70,000 for the refurb, but final spend reached £150,000

• Fully renovated and upgraded with quality finishes and modern interiors

• Configured for use as both a Serviced Accommodation (SA) and HMO

• Located near Arbroath Harbour — ideal for contractors, large families, and holidaymakers

• Expected nightly rate: £150–£200, with projected annual income of £40k–£50k

  
  

From driving taxis and delivering Chinese food as a teenager to managing 85 staff and five depots across Scotland, Willie’s story is one of relentless work ethic, resilience, and reinvention. Now, after exiting the dairy industry, he’s applying the same principles of growth and efficiency to property development and investing.

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