Has Your Property Investment Journey Plateaued?
Welcome to Friday! We made it to the end of another week. I don’t know about you, but I feel like this has been an exciting week. Yet again, I’m convinced that a focused and positive mind-set is bound to lead to success. Who’s with me on this?
Who’s with me on this?
This week I’d like to talk about a really important point that seems relevant to Property Investors recently- both the newbies and seasoned professionals. At some point in our careers, we get to a cross roads (it may even seem like a dead end), and this is precisely the time when we need to surround ourselves with positivity, motivation and a new perspective. Remember that there really is a solution to ever problem or challenge.
This specific problem was raised on my Property Investment Mastery Facebook Group and I have fleshed it out there for the benefit of all- I hope something in this blog will spark an interest in you and will motivate you to take action!
Ideas often come in sparks, and that’s what I’m hoping for you to feel today!
The situations vary of course, but for the sake of this blog let’s say that you have 1-3 properties. You have been running your portfolio relatively well and you feel that you have idea of what you could achieve.
So, what’s stopping you from moving on and purchasing your next buy-to-let? It’s a feeling that you don’t have the resources to step up and buy your next property.
You may be in the position where you are receiving a decent income (survival?) from one or two of your properties and so the drive to go out there and find the resources you need to get to the next level have stalled.
Yes, you have plateaued.
Maybe you haven’t thought about it for a while, but you KNOW when you purchase your next property you are going to have an amazing time redeveloping and renovating.
The fun that awaits you in redecorating and redeveloping your new buy-to-let!
Your focus will be sharper than it has been in months (or even years) and you will be committed to making a great place for your perfect tenants. And you will probably have a whole lot of fun too! These tenants will be paying YOUR ideal rent.
The best part is that you would be making an additional £1000 pm (if not more) which would really SUPERCHARGE your portfolio.
Let’s head back to the drawing board.
In order for you to be sharp and focused often means you getting back to the drawing board
What would that £1000 pay for?
Funding comes from 3 sources:
*Your savings account
*Mortgage lender
*Private finance, bridging or investors
… And there IS funding out there for up to 100% of purchase value.
Here’s what I would do:
I use a parallel 2 step approach to deciding what to buy next.
On one side I look internally at the assets I’ve currently got, how much do I own cash + equity.
On the other side I find the best, juiciest deals which really get me excited. I asses what I’m doing with it and I calculate how much I need to get the deal off the ground and how much profit I will make from the deal.
I then pair them up, can I find this in my portfolio? If not, I present to private investors and bridging companies…
The SECRET to your success is being able to analyse a deal and knowing exactly what you have available to you today, down to the penny. Once you are able to do this you can continue to expand your portfolio, however which way you see best to achieve your goals!
If you want to know more about how to analyse your next deal then PM I’d love to discuss with you!
Success is really within your reach. Give me a call, let’s chat about how.
Also, I’m not sure if you have heard the good news, but I have set up a brand new video series on YouTube. My latest video is all about Becoming the Boss of your Property Portfolio. In essence, it’s about you taking control of what’s going on and making sure you reap the benefits of your Property or Properties. Check out the video here!
Until next week!
Yours in Property,
NC
