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Well, as my plan is to focus on sourcing standard single-family homes as flips or BRR's I've decided to focus on Kirkstall and Burley area. I do plan, of course, to have a view over the whole of Leeds and also will not rule out rent to rents, HMO's or lease options, especially if I'm able to find a way to keep them myself for some cash flow but I won't be making it my main focus.
If you have any advice or tips for me I'd love to hear it, either here or my email address is email@example.com, always looking to learn from people with more experience than me.
Thanks for reaching out!
"Be humble. Be teachable. The world is bigger than your view of the world. There’s always room for a new idea, a new step… a new beginning"- Unknown
I couldn’t really find a quote to perfectly go with this blog but I think that one is quite fitting.
The 100-day program is now over, granted, it overran a bit, something I definitely won't be complaining about.
We recently met up in London for our end of program meeting (All except our LA participant, who couldn't make it). It was nice to see everybody again and spend some time with Richard who had also invited three different speakers.
The first speaker gave a presentation on talent dynamics and the way working with people who have different skills or talents than yourself can be a great way to plug some gaps that one may have. I’m not the biggest fan of the more detailed side of things, business plans and the like, which is actually how I first connected with Richard, through reaching out to him to ask him to assist me with my business plan. We spoke about finding somebody that compliments you by bringing to the table something that you may be lacking and how to effectively connect and build a relationship with these different types of people which I found valuable as I believe networking is a large part of property, as is often said, ‘it's a people business’.
The second speaker spoke to us about research and the best way to do our due diligence on a specific area, drilling down to street level. This was very interesting and I picked up some great tips and a lot of useful resources were mentioned that I had not come across before.
The final speaker was somebody who I’ve already met during my last meet up with Richard when he gave us a tour of his different projects and somebody I know to be a genius when it comes to the project management and planning side of things. He gave us a short presentation on project management, how he would cost up a deal and how he would get a good team around him. At this point, we were slowly running out of time which was a shame but in a way a good thing as I could have asked him questions for hours. I love to learn about the smaller details of planning and the project management side of things.
I must admit, at the beginning of the course I wasn’t sure what I would get from it or what I could expect but it completely surpassed any expectations I had.
I went in hoping to learn a lot, make some new connections and be in a position to quit my job and start property full time within a year all of which definitely happened but so did much more. Having somebody like Richard around always pointing you in the right direction gave me so much confidence and motivation. Combined with the fact that I hold Richard and his opinion in very high regard so I was pushing myself further to not feel like I was wasting his time or letting him down, which is something I intend to continue to do even if the program has come to an end.
Going through the process and trusting the process really did turn out to be worthwhile. Starting with the planning stage, moving on to the setup stage followed by the action stage helped massively as I tend to be the type of person that just wants to start something without maybe really thinking about the planning side of things first.
Of course, everybody's gaps were varied which lead to varied results and strategies. One person already had multiple houses and wanted to go more towards the development side of things which she has slowly started to do, already being offered an apartment at a great price. Another also had a few houses, wasn't sure in which direction to go next but is now much clearer about the next steps having chosen one strategy, implementing it, realising it wasn't the right one but at the same time discovering the perfect one for him, which in itself is a highly valuable thing to have happened. The third person was starting from the ground up but has already nearly got a project management deal across the line after moving from a mindset of constant learning to 85% action taking.
The great thing is the mix of characters, experience and knowledge, all of which are beneficial to getting to where you want to be.
But I also realise that the results that I have achieved are not possible without being hardworking and really, really wanting it.
A point that comes to mind right now as I’m typing that I want to quickly get across, the fact that I am able to quit my job so soon without actually testing the strategy, checking if it really will work or not.
I’m sure most people realise that my decision is not just based on only taking this 100-day course, reading some books and suddenly I’m a property professional.
I have been studying property for years. Pretty much every free moment I had I would take advantage of, whether it be listening to audiobooks as I walk or drive, reading property books before I go to sleep, I don't even really watch series or movies, instead, I watch property youtube channels.
This has been going on for around 4 years, slowly increasing my knowledge, so I wouldn't exactly classify myself as a newbie but the fact I have never actually taken any action in the property world doesn’t put me so far above a newbie. The point I am trying to make is that I went into this program really wanting it, willing to do anything it takes with a big why of being able to quit my job and work on my own terms in an industry I am truly passionate about and have been for years.
I also realise that not everyone can quit their job so easily, some people have children and other commitments that stop them from being able to take that risk but, at the same time, I am also confident that there are a lot of people in my position that could do exactly what I have done as long as they have a strong reason why that will bring out true dedication and motivation even if it means starting out part-time, to begin with.
I understand that everybody has a different tolerance to risk but I believe a lot of people are underpaying their tolerance to risk just to be able to stay in their comfort zone. I believe everyone should really evaluate what is the worst that could happen if you did take the plunge and dive head first towards your dreams. Mine? Getting a full-time job in Leeds and continuing property after my working day or even worse, if for some crazy reason I don’t manage to find a job in Leeds I would move back into my parents.
Evaluate it, if the truly worst-case scenario really isn't that bad then what's stopping you? Fear will always be there, it's how you react to that fear that will set you apart from the people who in 20 years will still be saying ‘one day’.
I was going to go on to explain my next plans and a few other things but I think I went on a bit of a tangent this time and I don't want the blog to go on for too long.
I have the last group call with my apprenticeship program and also the one before us with a renowned deal sourcer on the 9th so I will wait until I’ve participated in that and then come back with my next plans. Safe to say, I’m excited.
P.s Before I sign off, I’d like to just quickly say thank you to everybody who has reached out in some way to give me some tips, advice or just to say how much they are enjoying reading this journal, it really does motivate me to know people are getting something from what I am writing, even if it is just entertainment and, I must say, I am really enjoying writing these posts to look forward to continuing them.
“Success isn't always about greatness. It's about consistency. Consistent hard work leads to success. Greatness will come” - Dwayne Johnson
Real talk - I’ve been struggling recently. There are points in my life where I get into what I call a ‘lazy phase’. Sometimes these phases can last for weeks and in the end, I just end up feeling more demotivated and annoyed.
This time was different. I was in this same phase, watching mindless youtube videos until late at night (more like early in the morning) and sleeping until late afternoon getting essentially nothing done until I came across a video that talked about productivity and how people only lose themselves in series, movies and videos to escape the reality they live in. Although it was something deep down I probably already realised it still got me thinking and it pushed me not to be like the 99%.
You see, for anybody that's read all of my posts, you may think I am this efficient, infallible tracking everything machine but that's simply not the case. The true reality is that I love nothing more than sitting on the couch watching movies or series. That's the whole reason I don’t have a PlayStation or anything like that because if I did I would never get off it, that's also the reason I don’t start any new series because I obsess watching them until completion. The new Stranger Things episodes recently came out, I finished it in 2 nights.
All this also got me thinking, what am I trying to escape from? What do I not want to face in my life right now?
I won’t bore you with my first world problems but the reason I mention this is because upon answering the question of what is driving me to get into my lazy phase opened my mind and I managed to get out of it in 5 days, much quicker than usual and I’ve started working on the things that I feel need changing.
It was not only this realisation that got me out of my rut but also the mastermind group I recently joined.
As I mentioned last time, the apprenticeship program is now over but working with Richard and the other mentees is not. We have now formed a mastermind along with the previous group of mentees and it does force me to stay accountable.
Being in the mastermind means that we have monthly calls where we have to bring something that we have achieved over the month to the call, along with our next steps for the 3 months plus other ‘gives’ for the group. It also means we have weekly check-ins outlining what we have been up to over the week and what tasks we have completed.
Last week was the first check-in I was apart of since joining and I had to ignore it. I had nothing to say, I’d achieved nothing, done nothing and that is not good enough, that is not me.
This new found accountability is really what will take me to the next level, because, lets face it, most of us, left to our own devices, would slack and not push ourselves half as much than if we always had a group of people prompting you to get that ass off the couch and get s**t done.
It’s about 6 weeks and counting until I make the move from Berlin to Leeds and I have a lot to do, a lot to plan.
This week I have set up my bank account and ordered a sim card from the UK so that I can get business cards printed.
My website is complete, I paid somebody in fiver £230 and he did a great job but I need to write the copy and get everything perfect before my move.
I also need to book my flights to the UK. My plan is to take my girlfriend with me so we can take two large suitcases and hopefully that will accommodate most of my belongings then I will come back to Berlin, pack my suitcase full again and that should be most of my stuff. I live quite minimal. I basically just have my bedding, clothes and books so it shouldn’t be too difficult.
I also have to find an apartment in the Leeds area. Ideally, I will move to Kirkstall in an HMO to start with. I look to pay no more than £400 a month but will stretch to £450 if needs must.
I also have still not got a car, I thought I would get one from my father but the one he had in mind won't be good enough as its too old but he has the job to find me one before my move so this is one less thing on my list. I must admit, I’ve not driven in 5 years so getting back on the road again does make me slightly nervous but I plan to practice a lot at night until its natural again.
The last thing on my list is to get all my compliance in place. Not a huge task, just a matter of making calls to different companies and filling in paperwork. Just a time-consuming activity.
Next month I am going to work less on the actual looking at properties side of things and get all that in place along with writing a few scripts for some Youtube videos that I will be putting out once touching down in the UK.
There is a lot to do but I feel ready and motivated. I feel that the lazy phases could be behind me now for good as I feel a switch in my mindset. I don’t know what exactly has changed, I just feel like anything put in front of me I will just do and then move onto the next thing… Maybe it's the coffee talking, only time will tell.
Richard recently uploaded some videos to do with the program on his youtube along with my testimony. I will link those down below.
I’ve set a reminder in my phone to write another post in 2 weeks time as sometimes time goes by without my realising that it's been too long since my last entry.
I look forward to catching up with you soon.
Program video - https://www.youtube.com/watch?v=erqv3lIsZsQ
My testimony - https://www.youtube.com/watch?v=ihvnkgZctgo
Great read! I was quite gutted that your last post was only 6 minutes ago. I could have kept reading for hours.
Your posts are very inspiring. I am looking to get into property myself. But first I am educating myself as much as possible. I have started with XXXX (*Moderator note: Name removed ) which proved to be a dead end due to his reputation. Do you have any recommendations on sources of information you found very useful?I have some authors I'd like to check out and I am currently using PT as a source as well.Any help would be appreciated. Keep it up!
This is such a great thread and I loved reading all your progress so far and what you’ve been doing.
I also really appreciate your most recent post about how you’ve been struggling. It’s inspiring to see people opening up about their issues and continuing to carry on even when it isn’t the easiest for them. Congratulations for being honest and continuing with your plans.
While in the day to day it may not seem like a lot is getting done, you’ve come so far from where you first started. I look forward to coming back to this thread later on and seeing where you have got to!
Transparency notice: OneandOnlyPro is a commercial partner of Property Tribes.
Thank you for your kind words.
You're right, slow progress is still progress but it all comes down to the standard we set for ourselves.
I hope next time you check-in you see a huge amount of progress!