How Max Scott managed the transition for Star Property
Max Scott, managing director of Star Property, has managed an incredible amount of growth over the past two years, notwithstanding the difficulties that Covid and lockdowns have thrown. In the December 2021 issue of YPN, read all about how he did it, what changes he made and where he plans for the business to go.
Star Property is part of a larger group of businesses with several shareholders, the oldest being Star Sports, a betting business that was started in 1999. The model has been about the trading businesses within the group, and the profit from these fuels the property investment. It’s Max’s job to run the property investment company and all their property businesses.
His focus has always been to grow the group’s profits, and everything is in place so he can focus on deals, how much they can bridge and how quickly mortgages can be organised. A big part of his role is about managing the money he has available as quickly and efficiently as possible.
At the moment, they hold a mix of everything: BTLs, HMOs, SA, blocks of flats, mixed use and commercial. To continue their growth, one of the things they’re currently focusing on is properties that can be leased out, because they involve little management and Max’s team can concentrate on expansion.
When he first started, Max was doing a lot of the management and was heavily involved in the day-to-day. This was beneficial as it was a great opportunity to learn about aspects of the business. However, as they grew it became clear that the property element of the group needed their own team. Their in-house management currently consists of a senior property manager, property manager and administrative support. They are responsible for overseeing and managing the portfolio, and Max hopes to expand further by the end of the year.
As they have grown, so has the importance of workplace culture at HQ. About 15 months ago, Max realised that the culture wasn’t quite what it needed to be. At the time, they only had five team members (they have 22 now!), and after a couple of changes, they are focusing on building a place where people like to come to work and support each other.
Max has started a lot of property businesses recently under the umbrella of the investment company, aiming to become a one-stop property shop. He wants to grow all of these, and once the teams are as strong as possible, they can concentrate on becoming a well-oiled machine.
Read more about Max’s story in the December 2021 issue of YPN, where there are also a couple of case studies showcasing the growth of Star Property over the past two years.
Watch out for Max as a guest on an episode of Your Property Podcast later this month!