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1) Listened to myself more than I listened to others
2) Took Action when only 85% confident of what I was doing
3) Doubled my winnings by sussing out early the beauty of the Housing Benefit Market
4) Did sums n stuff at 2 am and then ensured i was the first through the agents door at 9 am
5) Ate the Frog at 7 am and saved the Creamy Raspberry Turnover for tea time
6) Delayed gratification ( societies definition of gratification that is - not mine )
7) Treated tenants as part of my success so they stay with me in a symbiotic relationship
9) Problem solve everything . Thought abstractly - Didn't feel I had to conform
10) Secured my Freedom by following Rule No 1 then No 2 .
Jonathan Clarke. http://www.buytoletmk.com
The five best things are
retired from the rat race aged 40
allows me to live in a house I love
travel the world on my own terms
no boss to tell me what I can and can’t do
freedom to live a good life provide good homes and to leave a bussinss for my family when I have moved on
Learn Change and Adapt ?????
All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.
1. Got started
2. Pushed ourselves and took some calculated risks early in the process so we could get to tipping point/ giving up the day jobs soon enough to make it seem worthwhile
3. Been flexible, ie evolved our plan as we progressed eg started with flats because of low entry costs but soon tired of freeholders, sold flats at profit to invest further in houses - got rid of property that didn't work for us
4. Stopped jumping at the first tenant to show an interest, started waiting for the right tenant
5. Invested a lot of time in reading and thinking/ imagining. Thanks PT for much of that!
6. Been willing to work very hard at times, kept reminding ourselves that the pay-off justifies the effort, regularly remind myself how lucky we are. All of my friends still work f/t. I think most of them enjoy their jobs but maybe that's just what they tell themselves. I didn't enjoy mine.
(6. Buying back in again when the next crash happens around 2020-21 haha.)
All of the above could be summed up as taking risk after risk and working your ass off. After three years of doing nothing work related I'm ready to start a next chapter, just got to figure out what it will be!
I am a human bean.
``After three years of doing nothing work related I'm ready to start a next chapter, just got to figure out what it will be!``
Grab a bunch of A4 paper and 10 folders . One folder per each idea . Big marker pen
Over the next month just casually add a bit to each folder as and when you think of something related to it as to how it may work . It maybe a 4am thought it may be a google search. It may be something on the news or maybe what a friend says when you bounce of that idea with them . Doesn't matter include it all
Some folders will be a bit light on detail after a month . Some will start to bulk out
The ones light on detail is clearly a rogue idea . Not enough passion there . So file it for now
Do this for 10 months and discard one idea per month - or one per week if you get busy
After 10 weeks or months put all your energies into the one folder that is left
* I did this 20 years ago and my Property Folder won the day
The other ideas would have all worked of course - but one thing at a time eh
Hey, thanks for the comment Jonathan. That system obviously worked out well for you!
I haven't got anywhere near 10 ideas yet, but there's a few rattling around in my head.
One thing at a time.......I'll get there, haha. Cheers
Excellent thread Vanessa and brilliant conversation starter.
Really enjoyed reading this and seeing everyone’s 5 positives on their BTL’s. Its nice to reflect on them, sit back and look at what has been achieved. Great quote also “Someone is sitting in the shade today because someone planted a tree a long time ago” –plant your tree today.
Very inspiring and motivating.
Transparency notice: OneandOnlyPro is a commercial partner of Property Tribes.
Hi all ,
I’m looking to invest in properties using my business and need some guidance . Is anyone available for a brief 1x1 conversation please ?
Good post - in particular like this principle of yours - its the right mindset for a good LL and aligns exactly with ours
<Bought good quality properties in good areas and had the personal benchmark of "would I live there myself?">
1) Work to your strategy
2) Due diligence
3) Numbers do the talking
4) Quality Properties & Tenants
5) Focus on efficiency.