My passion is to see you reach your goal. I meet people weekly who are often desperate to build a reliable income through property and I understand that desire because I have been there. So how is it done?
Clarity is essential
Confusion will trip you up, create instability, cause potential wrong decisions to be made, create many more wobbles within you, cause fear to rise up in you and take away all the fun.
So if you have been in property a while and it isn’t going quite the way you had hoped, look at your understanding of the major areas. Do you have Clarity, I mean really have clarity, there is no room for confusion. So having sorted your mindset, this is where you must begin.
Property is genuinely simple, the bits that are complicating to us we don’t deal with, we leave them to our solicitors and brokers, our accountants and our tax advisors.
Many will know that from a very young age in property my mantra was ‘I’m going to do it, the question is how’. We need to start believing we can do it, the ‘How’ we then work out. Now this could be directed to your end goal, a specific deal and many other things along the way.
Property is all about the process
If you want a £5000 passive income in a year where do you start?
Well first you decide either on a strategy or an Area.
If you know you strategy is going to be HMO’s you must find an area that is phenomenal for that strategy…… not mediocre but staggeringly good.
If you have an area that you want to invest in, you must find a strategy that works phenomenally in that area.
We must not try to put a square peg in a round hole or vice versa, all you are doing if you do this is attempting to force something to work that probably never will. Too many people find property or allow property to find them, think it looks good but know nothing about the area and if the strategy works in the area. My advice is don’t look for a property until you have sorted the area and the strategy because you will just be chasing ‘shinny pennies’ and confusion will abound.
Once you have your Area and strategy sorted you now find quantity of leads weekly
This means you need to find a lead generation strategy that you can control. HMO letters and adverts, networking and leaflets maybe good but you need to deem them a bonus, as you are not in control of what comes back and in what time frame.
My favourite words in property are clarity and creativity and we know creativity is hard unless we have clarity first but
3 very important words that are also imperative to your success are commitment, continuity and consistency
If you find a certain number of leads a week (EVERY WEEK), you will find deals. Don’t give up, do loose faith, don’t quit when you feel most go nowhere.
I am learning to fly and when on the base leg before final, all I have to look at is speed and runway, speed and runway, speed and runway, until I…… land.
In property it is area strategy, area strategy, area strategy, once sorted ……. quantity
For each deal a process begins and for most of them that process will be very similar. A large part of it you don’t do, especially if you are buying it and getting finance, the professionals such as brokers or solicitors do a lot of it, but remember in every process, you are taking one step at a time. These steps aren’t difficult, they just don’t always go the way we want them to. Within the process it is about clarity and risk analysis, which is merely understanding a) the worst case scenario b) The best case scenario c) and the most likely case scenario
So you see it’s you rocket science, it’s three things
Finding your area and strategy
Getting in the leads every week
Following the process once you’ve got them which starts with speaking to an agent or a vendor.
Then one step at a time.
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