3 Secrets to Create Your SUCCESSFUL Property Business Plan

Property Business Plan

⏱️ 15 minute read

📅 Written on July 27th 2020

Looking to get started as a property investor?

Work your way through our 6 part property investing guide for beginners

Part 1:

 

How to create a property business plan

Part 2:

 

2020 Property Investment Strategies

Part 3:

 

Calculate Yield & ROI on Investment Property

Part 4:

 

Buying Property Through a Limited Company

Part 5:

 

Best HMO Investment Areas in the UK

Part 6:

 

How to flip a house as a property investor

Chapters

Chapter 1

All of the most successful businesses in the world are backed up by a solid business plan. In our world – a property business plan! 📓

 

Are you lacking the understanding of what to focus on? 

 

You’ve got ‘shiny penny syndrome’ and chasing the next best cash flowing method. Trying to find the confidence to take the leap and buy your first investment property?

 

Understand your direction and plan to hit the goals you want. When I put together a plan and strategy I felt RELIEVED with a clear direction forward.

 

Every successful and powerful property business has a property business plan.

property courses

A property business plan doesn’t have to be complex at all! 🙅‍♂️

 

It could be as simple as ‘I will focus on buy-to-let, with minimal refurbishment required. I want one before the end of the year’. That’s it! You have a direction, you know what you’re going for and now you can measure your success.

 

You’ll LOVE this guide whether you’re a new or experienced investor looking to create your strategy.

 

In this guide, you’ll learn:

Most new investors don't have a property business plan.​

And that’s ok… but if you’re looking to take property seriously then it will help you INCREDIBLE amounts.

 

It might feel strange sitting down and working on your strategy and plan, but it will give you laser focus 🔎. Ultimately you’ll benefit in the long run.

Chapter 2

How do I create a property investment business plan?

property business plan

You don’t need tens of slides or a printed, leather-bound book.

 

The best, simplest plan is one that you can easily describe in 30 seconds – like an elevator pitch. 🤷‍♂️

 

It should be something that is easy to remember, and simple.

 

You should K.I.S.S your business plan:

 

Keep

It

Simple

Stupid

 

To keep things really simple, your plan should cover 3 things.

Writing out where you are now, and where you want to be will allow you to understand your gap. Once you understand this – you can put a plan together to bridge the gap.

Chapter 3

Part 1: Your property investment journey - NOW

Imagine if you’re flying to another country, how will you get there if you don’t know which airport you’re starting from? 🛫

 

Also remember – it’s not just about the destination, it’s about the journey!

 

Understanding where you are now should be easy to write down. Spend time looking at your experience so far.

 

Do you have 0 properties and looking to get started? If so this guide is perfect for you 👌.

 

Maybe you have 2 or 3 properties, but working out how to quit your 9-5 job without burning out.

 

A few things you should work out:

Doing this will help you leverage the best position for yourself.

For example, I’m in a fortunate position where I have £40,000 in savings. I save about £30,000 a year. My evenings and weekends available. And I have a digital / tech background in project & risk management. 🤓

 

Understanding your starting position should be easy to work out.

 

Knowing your buying power should be discussed with a mortgage broker. If I have ÂŁ40,000, I could, in theory, buy a house for ÂŁ160,000 on a 75% LTV mortgage.

 

But what If I want to buy a run-down house and spend £15,000 on a refurb? 🏚️

 

At 75% LTV my buying power goes down to £100,000 and that doesn’t factor in any other fees or costs. 💸

 

So after all costs and taxes, that’s likely to be more like ÂŁ85k – ÂŁ90k.

 

You can build equity through other ways, including re-mortgaging your home. 

 

Again, a good mortgage broker would be able to advise on your individual situation.

 

That’s why being clear on your strategy will help you find the right properties and not waste time.

 

If you’re looking for HMO investment areas – I analysed over 300 data points to find the best HMO property areas here.

 

Be cautious when working out how much you have to spend on your investment property. Make sure you leave enough for emergencies. 🚨

 

Enough to cover you for 6 months should be enough. This also covers unexpected expenses or if you lost your job.

Goal Setting Guide

Free Goal Setting Guide

Our free PDF guide will help you set the right goals for your property business. Understanding your literal financial goal and lateral north star goal and how to bridge the two. 

Chapter 4

Part 2: Your North Star Goal - Where you want to be

property investing growth

Ok, so now we’re clear on where you are today.

 

Your north star goal is where you want to get to 🚀, and what direction 🧭  you’ll take to get there.

 

There’s many ways to measure and plan your goal but sit down and REALLY think about what that goal is.

 

There are 2 types of north star goals.

 

💷  The first type is the literal financial goal.

 

For example – if you earn ÂŁ2500 a month and want to replace that income. You would need 8 to 10  buy-to-let properties netting ÂŁ250 a month to achieve that.

 

🏝️  The second type is your lateral goal.

 

This is more about financial freedom to not have to worry about the price of something in the supermarket. Maybe you want to go on a long-haul holiday every year. Or like most people, including myself – quit the 9-5.

 

For the lateral goal, understand what it is that motivates you and what your literal financial goal allows you. Time. Freedom. Flexibility.

 

For example, earning ÂŁ2500 profit a month will allow me X, Y and Z.

 

Lastly, you need to know WHEN you want to achieve this by?

 

Make sure it’s realistic. If you can only spend weekends on the goal… you won’t get there in 6 months.

 

Property is not a get rich quick world. 🤦‍♂️

 

A lot of new investors set a plan which is also not realistic. If your goal is ÂŁ10,000 a month. Understand why? Do you spend ÂŁ10,000 a month at the moment?

 

How much money do you need to cover your expenses?

 

For me, by the time I’ve paid my mortgage, bills, travel, I only really spend about £1800 a month.

Two similar properties in different areas could suit your need differently.

Understanding your strategy and plan is crucial here. If you’re looking to build capital, then the first property isn’t going to help you.

 

However, if you’re looking for cash flow and have access to future finance, the first house is perfect.

 

To recap what we’ve learnt so far:

This is a really STRONG and focused start. You’ll already ahead of MANY other property investors.

 

You may have learnt some tricky truths, the gap between where you are today and where you want to be is too big.

CONTINUE READING BELOW

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Something a little different today. SEO or otherwise known as search engine optimisation 🚀 & DOMINATING google. ⁠ ⁠ Although new to the property world, I work in a bank by day and also freelance as a graphic designer / SEO expert.⁠ ⁠ I have been doing this for about 10 years 🔥 ⁠I\’m already seeing some killer results from my website for big terms. Still lots of work to do though!⁠ ⁠ I knew as a part of getting started in property, I wanted to document the journey and build a solid brand to do that in the process, so I can share valuable and honest content as a way to give back to the Instagram community that taught me so much.⁠ ⁠ Separately, I also teach the skills needed to learn SEO over on skillshare.com with a video course that\’s about 1hr 50 minutes. It\’s relatively new but some good reviews coming through already. ⁠ ⁠ To give back to the more experienced developers on here – if you\’re struggling to get traffic via Google – I\’ve attached a completely FREE link to my SEO class if you click on the link in my bio you\’ll see a button to go to my skillshare.com class.⁠ ⁠ The link is a 2-week free trial on Skillshare (so just remember to cancel your skillshare membership once you\’re done), although there are tonnes of other creators on there who teach photography, project management and other stuff so might be useful for your business!⁠ ⁠ 👍 Double-tap and please check out the class for free! No strings.⁠ ⁠ PS. I have a newsletter over on my website where I send out weekly thoughts and interesting books as well as share my own property journey as a beginner. Link in bio.⁠ ⁠ #hmo⁠ #coliving⁠ #property⁠ #properties⁠ #propertybusiness⁠ #propertydevelopment⁠ #propertydeveloper⁠ #propertymanagement⁠ #ukproperty⁠ #propertyinvestment⁠ #propertyinvestor⁠ #propertyinvesting⁠ #propertypodcast⁠ #buytolet⁠ #landlord⁠ #financialfreedom⁠ #passiveincome⁠ #propertyladder ⁠ #ukpropertymarket⁠ #propertynews⁠ #propertymarket⁠ #business⁠ #entrepreneur⁠ #propertymanagement⁠ #entrepreneurship⁠ #entrepreneurlife⁠ #houseofmultipleoccupancy ⁠ #sharedhouse⁠ #spareroom⁠ #bedroominspo
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NEW YT VID: Giant leaps begin with small steps. I see loads about \’goal setting\’ – nothing about habits 🤷‍♂️⁠ ⁠ Amongst all the property content I see online, there\’s loads on goal setting and everybody is talking about it. It\’s healthy to set goals and set your direction. This week I explore \’Atomic Habits\’ by James Clear and cover the top summary from the book. It\’s really fascinating! 🔥⁠ ⁠ This amazing book talks about how goal setting is merely determining the outcome/s you desire. Setting a goal doesn\’t guarantee you\’ll actually meet it…⁠ ⁠ Instead, we should be focusing on systems, processes and forming those habits that bring us closer to those goals we set. ⁠ ⁠ Please check it out! Link in bio⁠ ⁠ wtfpropertyinvesting.com/youtube⁠ ⁠ Even by focusing on tiny changes, over time, and with the compounding effect – you could see remarkable results. ⁠ ⁠ 👍 Double-tap and let me know if you focus only on \’goals\’ our \’outcomes\’ or if you also focus on your processes and habits to get there!⁠ ⁠ PS. I have a newsletter over on my website where I send out weekly thoughts and interesting books as well as share my own property journey as a beginner. Link in bio.⁠ ⁠ #hmo⁠ #coliving⁠ #property⁠ #properties⁠ #propertybusiness⁠ #propertydevelopment⁠ #propertydeveloper⁠ #propertymanagement⁠ #ukproperty⁠ #propertyinvestment⁠ #propertyinvestor⁠ #propertyinvesting⁠ #propertypodcast⁠ #buytolet⁠ #landlord⁠ #financialfreedom⁠ #passiveincome⁠ #propertyladder ⁠ #ukpropertymarket⁠ #propertynews⁠ #propertymarket⁠ #business⁠ #entrepreneur⁠ #propertymanagement⁠ #entrepreneurship⁠ #entrepreneurlife⁠ #houseofmultipleoccupancy ⁠ #sharedhouse⁠ #spareroom⁠ #bedroominspo
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NEW YT VID: Giant leaps begin with small steps. I see loads about \’goal setting\’ – nothing about habits 🤷‍♂️⁠ ⁠ Amongst all the property content I see online, there\’s loads on goal setting and everybody is talking about it. It\’s healthy to set goals and set your direction. This week I explore \’Atomic Habits\’ by James Clear and cover the top summary from the book. It\’s really fascinating! 🔥⁠ ⁠ This amazing book talks about how goal setting is merely determining the outcome/s you desire. Setting a goal doesn\’t guarantee you\’ll actually meet it…⁠ ⁠ Instead, we should be focusing on systems, processes and forming those habits that bring us closer to those goals we set. ⁠ ⁠ Please check it out! Link in bio⁠ ⁠ wtfpropertyinvesting.com/youtube⁠ ⁠ Even by focusing on tiny changes, over time, and with the compounding effect – you could see remarkable results. ⁠ ⁠ 👍 Double-tap and let me know if you focus only on \’goals\’ our \’outcomes\’ or if you also focus on your processes and habits to get there!⁠ ⁠ PS. I have a newsletter over on my website where I send out weekly thoughts and interesting books as well as share my own property journey as a beginner. Link in bio.⁠ ⁠ #hmo⁠ #coliving⁠ #property⁠ #properties⁠ #propertybusiness⁠ #propertydevelopment⁠ #propertydeveloper⁠ #propertymanagement⁠ #ukproperty⁠ #propertyinvestment⁠ #propertyinvestor⁠ #propertyinvesting⁠ #propertypodcast⁠ #buytolet⁠ #landlord⁠ #financialfreedom⁠ #passiveincome⁠ #propertyladder ⁠ #ukpropertymarket⁠ #propertynews⁠ #propertymarket⁠ #business⁠ #entrepreneur⁠ #propertymanagement⁠ #entrepreneurship⁠ #entrepreneurlife⁠ #houseofmultipleoccupancy ⁠ #sharedhouse⁠ #spareroom⁠ #bedroominspo
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Looks fine to me! 😂 I hear this is a new HMO trend at the moment?⁠ ⁠ On a serious note – I hope everyone is having a productive and cracking week! 🔥⁠ ⁠ I\’m spending this week down in Cornwall on holiday and to spend some time looking at what I\’ve done so far. I\’ve spent a lot of time focusing on the WTF brand and creating it into something that\’s genuine, transparent and fun at the same time.⁠ ⁠ I\’ve taken amazing learnings from books around showing your work publically and \’being an amateur\’ in public.⁠ ⁠ At the start of this year, I wanted to make my next move after letting out a spare room in my East London flat for 2 years and the aim is to have the first property underway through a company by the end of this year. Small steps.⁠ ⁠ ⁠Secretly in the background, I\’ve been setting up my company structure to fit in nicely with my freelance work. Funds are ready to go and bank accounts set up.⁠ ⁠ It\’s great to already have a solid social brand with (hopefully) helpful content for those even newer than me before even truly getting stuck into project #2. ⁠ ⁠ 👍 Double-tap and let me know what you\’re working on. What\’s the plan as we approach the end of the year?⁠ ⁠ PS. I have a newsletter over on my website where I send out weekly thoughts and interesting books as well as share my own property journey as a beginner. Link in bio.⁠ ⁠ #hmo⁠ #coliving⁠ #property⁠ #properties⁠ #propertybusiness⁠ #propertydevelopment⁠ #propertydeveloper⁠ #propertymanagement⁠ #ukproperty⁠ #propertyinvestment⁠ #propertyinvestor⁠ #propertyinvesting⁠ #propertypodcast⁠ #buytolet⁠ #landlord⁠ #financialfreedom⁠ #passiveincome⁠ #propertyladder ⁠ #ukpropertymarket⁠ #propertynews⁠ #propertymarket⁠ #business⁠ #entrepreneur⁠ #propertymanagement⁠ #entrepreneurship⁠ #entrepreneurlife⁠ #houseofmultipleoccupancy ⁠ #sharedhouse⁠ #spareroom⁠
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Why are we so afraid of starting something new? 🤷‍♂️⁠ ⁠ Amongst all the property content floating about on Instagram, Yesterday – I released a video about the book \’Show Your Work – By Austin Kleon\’. I\’m kind of preaching to the converted here amongst the Insta property community but hopefully, one of you who follow me, find this video thought-provoking!⁠ ⁠ Please check it out! Link in bio⁠ ⁠ In the video, I explore why so many people are afraid to get started, be that a business, idea, podcast or YouTube channel. ⁠ ⁠ There are two ways of showing your work⁠ ⁠ ➕ Do in silence, show the end product⁠ ➕ Do the work, show in public⁠ ⁠ I explore the latter, why you should \’show your work\’ in public no matter how experienced or inexperienced you are without fear and explores common excuses we tell ourselves like \”nobody will care\” or \”I\’m not experienced enough yet\”.⁠ ⁠ Showing your work and building a brand achieves 4 benefits – the feedback loop, accountability, seeing your progress and building a community of likeminded people.⁠ ⁠ I had a lot of fun recording and editing this one and my editing skills are definitely getting better!⁠ ⁠ 👍 Double-tap and let me know what you\’re up to!⁠ ⁠ PS. I have a newsletter over on my website where I send out weekly thoughts and interesting books as well as share my own property journey as a beginner. Link in bio.⁠ ⁠ #hmo⁠ #coliving⁠ #property⁠ #properties⁠ #propertybusiness⁠ #propertydevelopment⁠ #propertydeveloper⁠ #propertymanagement⁠ #ukproperty⁠ #propertyinvestment⁠ #propertyinvestor⁠ #propertyinvesting⁠ #propertypodcast⁠ #buytolet⁠ #landlord⁠ #financialfreedom⁠ #passiveincome⁠ #propertyladder ⁠ #ukpropertymarket⁠ #propertynews⁠ #propertymarket⁠ #business⁠ #entrepreneur⁠ #propertymanagement⁠ #entrepreneurship⁠ #entrepreneurlife⁠ #houseofmultipleoccupancy ⁠ #sharedhouse⁠ #spareroom⁠ #bedroominspo
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NEW YT VID: Why are we so afraid of starting something new? 🤷‍♂️⁠ ⁠ Amongst all the property content floating about on Instagram, I just released a video about the book \’Show Your Work – By Austin Kleon\’. I\’m kind of preaching to the converted here amongst the Insta property community but hopefully, one of you who follow me, find this video thought-provoking!⁠ ⁠ Please check it out! Link in bio⁠ ⁠ In the video, I explore why so many people are afraid to get started, be that a business, idea, podcast or YouTube channel. ⁠ ⁠ There are two ways of showing your work⁠ ⁠ ➕ Do in silence, show the end product⁠ ➕ Do the work, show in public⁠ ⁠ I explore the latter, why you should \’show your work\’ in public no matter how experienced or inexperienced you are without fear and explores common excuses we tell ourselves like \”nobody will care\” or \”I\’m not experienced enough yet\”.⁠ ⁠ Showing your work and building a brand achieves 4 benefits – the feedback loop, accountability, seeing your progress and building a community of likeminded people.⁠ ⁠ I had a lot of fun recording and editing this one and my editing skills are definitely getting better!⁠ ⁠ 👍 Double-tap and let me know what you\’re up to!⁠ ⁠ PS. I have a newsletter over on my website where I send out weekly thoughts and interesting books as well as share my own property journey as a beginner. Link in bio.⁠ ⁠ #hmo⁠ #coliving⁠ #property⁠ #properties⁠ #propertybusiness⁠ #propertydevelopment⁠ #propertydeveloper⁠ #propertymanagement⁠ #ukproperty⁠ #propertyinvestment⁠ #propertyinvestor⁠ #propertyinvesting⁠ #propertypodcast⁠ #buytolet⁠ #landlord⁠ #financialfreedom⁠ #passiveincome⁠ #propertyladder ⁠ #ukpropertymarket⁠ #propertynews⁠ #propertymarket⁠ #business⁠ #entrepreneur⁠ #propertymanagement⁠ #entrepreneurship⁠ #entrepreneurlife⁠ #houseofmultipleoccupancy ⁠ #sharedhouse⁠ #spareroom⁠ #bedroominspo
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COVID is like walking through custard 🙅‍♂️ ⁠ I feel like having wasted the past month of time trying to get the admin sorted out whilst setting up a group company structure. ⁠ Working with brilliant accountants at the moment to set up a holding company, propped up by multiple subsidiaries as I also freelance as a designer / SEO specialist and run a few side-hustles.The benefit of setting up this way is so that I can transfer dividends tax-free from the subsidiary brands into the parent company and then loan this into my physical property asset company. It\’s also a smart way to ensure if any subsidiary had problems then the other companies are protected whilst operating in this structure.Some people don\’t often think about futureproofing themselves. This made sense as I have other operations on the side but especially if I work on JV in the future, I can simply set up an SPV that sits nicely as a subsidiary and also means again, any issues in JV deals are ringfenced from the rest of my business.Wins & Struggles over the past month ⚡ Traditional methods of sourcing houses (IE Agents) has been hit and miss. A lot of \’best and finals\’ coming through although signs are slowly starting to show of a slow down.⚡ Banks have been a nightmare! Long processing times, 6 – 8 weeks wait times. 2 hour phone queues!⚡ Positive conversations with brokers on both immediate deals and also slower land opportunities in the pipeline on subject to planning offers.⚡ Sprint 1 goals have been set from September to December.⚡ The WTF website is seeing awesome SEO results so far including first page terms for some keywords already! ⁠ 👍 Double-tap and let me know what you\’re up to! ⁠ #hmo⁠ #coliving⁠ #property⁠ #properties⁠ #propertybusiness⁠ #propertydevelopment⁠ #propertydeveloper⁠ #propertymanagement⁠ #ukproperty⁠ #propertyinvestment⁠ #propertyinvestor⁠ #propertyinvesting⁠ #propertypodcast⁠ #buytolet⁠ #landlord⁠ #financialfreedom⁠ #passiveincome⁠ #propertyladder ⁠ #ukpropertymarket⁠ #propertynews⁠ #propertymarket⁠ #business⁠ #entrepreneur⁠ #propertymanagement⁠ #entrepreneurship⁠ #entrepreneurlife⁠ #houseofmultipleoccupancy ⁠ #sharedhouse⁠ #spareroom⁠ #bedroominspo
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You awesome people ⭐ ⁠ I have been blown away by the property investor community in Instagram. An incredible bunch of friendly and helpful like-minded individuals. 🤗⁠ ⁠ It\’s great to see so much inspiration all over insta.I haven\’t actually posted for 30 days and my Instagram still grew by 15% which is awesome. I\’ve been quietly fighting companies House and the banks with admin.⚡Company group structure is finally set up, bank accounts have been a nightmare, especially with a holding company in place. ⁠ ⚡ Funds are ready to go for property #2⚡\’What the flip\’ is live with a stunning website and growing email list. SEO results also looking strong. Already on page 1 for terms like \’HMO Investment Areas\’ ⁠ 👍 Double-tap and let me know what you\’re looking at at the moment. ⁠ ⁠ #hmo⁠ #coliving⁠ #property⁠ #properties⁠ #propertybusiness⁠ #propertydevelopment⁠ #propertydeveloper⁠ #propertymanagement⁠ #ukproperty⁠ #propertyinvestment⁠ #propertyinvestor⁠ #propertyinvesting⁠ #propertypodcast⁠ #buytolet⁠ #landlord⁠ #financialfreedom⁠ #passiveincome⁠ #propertyladder ⁠ #ukpropertymarket⁠ #propertynews⁠ #propertymarket⁠ #business⁠ #entrepreneur⁠ #propertymanagement⁠ #entrepreneurship⁠ #entrepreneurlife⁠ #houseofmultipleoccupancy ⁠ #sharedhouse⁠ #spareroom⁠ #bedroominspo

Chapter 5

Part 3 - How do I get to my property investment goal?

hit your property goals

So now we have goals in place and a plan of WHAT you’re doing to do.

 

Now we need to focus on the HOW. This is the core strategy 🎯 to back up your plan.

 

Understanding what your strategy is will help you get from where you are today, to where you want to be.

 

If you know that you don’t save much money in a year, and you’ve saved really hard to get a £30k deposit. Locking all that £30,000 into one property isn’t going to help you quit your job in 12 months.

 

Starting off in my property journey, I want to focus on building my capital first. This also allows me to get basic experience in refurbishment and buy-to-let experience.

 

Then I want to use this capital to work on a cash flow strategy to chip away at replacing my 9-5 salary.

 

This means for me, it’s crucial to generate equity in the beginning. With buy-to-let properties to make my money grow. 🌳

 

If I trapped all my money in the first few deals, I’d have nothing left to focus on a cashflow / HMO strategy to meet my north star goal.

Chapter 6

How do I build profit through property investment strategies?

There are many ways to build profit through property investing.

 

Some methods include:

Understanding what you’re going to do (your strategy) from the start is going to set you off on the right path. 🛣️

 

A lot of people do not do this.

 

Just look at ‘homes under the hammer’. How many novices do you see who buy a property without looking at it?

 

Then they buy it for whatever price it goes for at auction.

 

They budget £10k on a refurb and end up spending £30k. ⚡

 

Some do get lucky and still make a profit, but it makes me very nervous the way they operate. Imagine doing that with investor finance! 🤯

 

A lot of new investors, rush in and use all their money. What happens next

 

They’re stuck. They had no plan, to begin with. 😵

 

That means back to square one, of saving for many years to build another deposit.

 

Have you ever done this? It’s actually very common. Just spend a bit of time working on your plan, strategy and goals.

 

When you apply your strategy to your plan it will be so much more effective. Most importantly it will get you to where you need to be. ⛰️

If you don’t make a plan - it’s still possible. But nowhere near as easy!

Not all strategies are perfect for everyone. Doing a bit of everything is often worse than sticking to one strategy. 

 

Understanding the strategies in more detail is crucial. Some are more time demanding. Others have a greater risk. You should decide which is best for you.

 

Copying a business plan online, or from another investor isn’t going to help you.

 

Everyone’s starting point is different. Their skills, finance and risk appetite are different.

 

I’ve spoken to investors who want 10 HMO’s in 24 months. To me that’s crazy and I don’t think I could do that. However, they have a family in property and years of experience. I don’t. Everyone is different. 👍

 

So stop comparing your journey or goals to others.

 

My skills are heavily in managing people, leveraging my project management skills.

 

I’d be quite useless on-site as a labourer. This means I’ll likely spend more money on contractors and builders. Whereas the planning and preparation, I can do myself. 👨‍💻

Goal Setting Guide

Free Goal Setting Guide

Our free PDF guide will help you set the right goals for your property business. Understanding your literal financial goal and lateral north star goal and how to bridge the two. 

Chapter 7

The hardest part: taking action

property investing take action

It’s so easy to spend your day looking at other property investors on Instagram. 📱

 

Get out there, start viewing properties (Knowing what you’re looking for!). 🏘️

 

Having a solid plan and killer strategy will certainly help increase your chances of success. But until you take action – you won’t get there. You need to execute your strategy. 🔥

Break down your future goal and how you’ll get there.

Break it down and celebrate the small steps and wins.  Create individual tasks. 📔

 

For example, if my goal is to get 5 HMO properties to replace my income. Then I should focus on getting the first one done. Then the second. Then the third. 

 

This could be as simple as setting a goal of viewing 10 properties in a week.

Making 5 offers.

 

Speaking to my mortgage broker about my options.

 

These are all small steps to get to my goal. They’re my sub-goals. 

Let’s show an example:

 

Ultimate Goal = Own 5 HMO’s to replace 9-5 income.

Sub Goals = Own HMO property 1

1 = Speak to a broker about financing property 1

2 = Put offers on properties.

3 = View 10 properties. 

 

Setting these small, daily or weekly tasks are the foundation of your business. You’ll be able to measure your progress and know when you’re doing well. Or slacking off. 

 

If you keep ticking off your tasks, you’ll tick your subgoal.

 

When you’ve ticked enough sub-goals âœ…, you’ll get to your ultimate goal. 

 

It’s all about mindset here. đŸ§ 

Chapter 8

Should I outsource my property business?

Absolutely! If you don’t want to do all the work. Outsource simple tasks.

 

This could include:

Chapter 9

In Conclusion

We’ve covered LOTS in this guide to help you laser focus your business and absolutely kill it in the property market. 🔥🔥

 

We have learnt:


Understanding where you are now

💷  What finance you have available

🤑  How much you can save moving forwards

🏎️  What your living expenses are

 

Knowing what your goal is

💰  A literal financial goal

🏝️  A lateral north star goal

 

Bridging the gap between now and the goal

📘  Creating a strategy

🦄  Being realistic

🎯  How to meet your goals

 

Breaking it down

☑️  Creating easy to measure tasks

👌  Breaking down a goal into sub-goals.

 

This is how I’m operating my property business.

 

It makes things easier to explain to my accountant. To my solicitor. And my broker.

 

The crucial point of this guide is – KEEP IT SIMPLE STUPID!

 

If you overcomplicate it, you’re only setting yourself up for a complex business moving forward. Also taking action and doing it is also key.

 

I know how hard it is to get started, I researched and learnt for over a year and a half. I didn’t take action for a long time.

 

And that’s ok.

 

But action is going to get results. 

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