When you’re looking to start or expand your property portfolio, it can be massively overwhelming to know what to do, let alone how to do it! With so much hype, opinion and ‘advice’ in the marketplace, it is even confusing to know where to begin or who to trust to help you with the all-important steps you’re going to be taking.
Steps such as:
- Raising the finance
- How to ‘structure’ your business
- Knowing which strategy is right for you
- Where to find the ‘deals’
- How to negotiate the ‘right price’
- Increasing the value
- Understanding refurbishment and reconfiguration
- Letting and management
- Admin and accounts
- Etc, etc
Half the battle is just believing that you can actually get started and build a successful property business, (whatever that may look like to you) with the rest being a matter of taking the right, educated action and having a level of knowledge and understanding of what you are doing as you go along.
With changes happening in the market and from the Government, it is essential to be well-informed, understand what is and what isn’t possible, and know where and how to pick up the best deals and who to work with.
Simple, but not easy!
Unlike most other ‘property educators’, I’m not here to ‘sell the dream’ of how wonderful and fluffy the world of property is and ‘come and join us, NOW’! I am here to tell you exactly how it is. No waffle, no bullsh*t. Just straight-talking, no-nonsense help, guidance and support to help you along your property journey, as and when you may need it.
I get it.
I know you work bl**dy hard and are really busy, but you also have this inkling of an idea, perhaps a budding thought. You may already be sitting on a couple of properties, and know that there is more potential for you to tap into. You may have even started to do something about it, or you may not.
You inherently know that property is an amazing way to create wealth, either because you’ve experienced it from the growth in value of your own home, or you’ve seen the rises in property values over the years and you want to know ‘how to get involved’.
I know you have commitments: a mortgage (or rent) to pay, a full-on job to do (whether that’s dealing with clients all day long or looking after the kids!), work all the hours under the sun and feel ‘trapped’ by the thought of having to do this day in, day out, for the next 20 years, even if you mostly enjoy what you do! Life is stressful. Life is busy. But it doesn’t have to be that way…
And then there’s the future… what does it look like for you?
- Do you lie awake at night worrying about how much you’ll have in the ‘pot’ for your retirement?
- Do you actually know what your retirement would look like at the moment, financially speaking? Is it pretty?
- Will you be able to live up to your current lifestyle, let alone the dream of far-away holidays, time with your family and other pursuits you really enjoy?
For many people (even those earning decent 5 or even 6-figure salaries) the stark reality is that their retirement provision is sorely lacking, and if they don’t do something about it soon, then time will get the better of them and it will be too late to do anything about it.
The element of trust in ‘the system’ has all but disappeared. ‘Jobs for life’ are a thing of the past (thank goodness, perhaps!), and a lot more of us are learning how to take responsibility and take back control of our lives without having to rely on someone else to do the job for them (which in far too many cases, they don’t!)
The thought of going into property is exciting. It can also be scary, confusing and downright intimidating, if you don’t know what you don’t know.
Have you been afraid to take action because you don’t want to compromise/risk what you already have? Are you afraid to take action because you are afraid of losing money, getting it wrong, interest rate hikes, void periods, or any other reason?
If so, you are right to be cautious. There are many ‘rogues’ in this business, and you need to be aware of this. You must never just ‘take someone’s word for it’ and blindly trust someone who appears to know more than you. YOU must learn to know what is BEST FOR YOU!
The fact of the matter is that if you DON’T take action, then you are potentially compounding your situation year by year. You are missing out on opportunities which may mean all the difference between having a poor quality of life later on, or being comfortable, heck, even well-off in your latter years!
With so many changes afoot and ever more regulation and compliance to adhere to on the property scene, why on earth would anyone still get involved? You must be crazy, right?!
As far as I’m concerned, if more people actually took responsibility for their own lives and particularly their own finances, the country would be in a much better place. As it is, we DO NOT receive the financial education we need, we are force fed vast amounts of marketing for products we don’t need and don’t really want (but feel we ought to have!) and are actively encouraged to take out loans and credit cards to pay for it all!
This leads to mass consumerism, an attitude of ‘we want it NOW’ and, quite frankly, a downright pathetic interest in our own financial affairs, thinking and believing that someone else has it all in hand for us (which of course, is just not true).
YOU are not the crazy one…!
I started out in life with nothing. Nada, zilch, zero in the bank.
Well, nothing except the dream of what might be possible for me, and a healthy curiosity and interest in property!
From humble beginnings…I started my property journey at the tender age of 20, and whilst my music college peers were spending their student loans on nights out and general living expenses, I worked by butt off, saved a small pot of money and used my first student loan as a deposit to buy our first home (a one-bed flat above shops in NW London!)
My parents had always encouraged me to look at owning my own home as soon as possible, so I have a lot to thank them for in being supportive and giving me their input when we did.
That move paid off, and within 5 years, the value of that property had doubled and we were able to move into a house, something which was not even in the realms of possibility for most of the people we knew.
Fast forward a few years and we did exactly the same thing with our first investment property, in that we used my then-boyfriend-now-husband’s student loan to purchase our first Buy-To-Let property.