In this week’s podcast, I talk about how I found my values and how I’ve used that to build my property investments and my business. I also go through how you can use your own values to grow your property portfolio!
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Listen to today’s episode here! Also available on iTunes!
Transcript
Hello and welcome to the NC podcast. My name is Natasha Collins. And I and the founder of NC real estate which includes its members club for landlords and property investors to come and build a profitable property portfolio that completely aligns with their lifestyle and their financial goals.
[00:00:36] Now if you haven’t yet got this freebie that I am giving out to you. As I said for free, you need to head to NC real estate dot co-taught UK forward slash flowchart because that is the property investment strategy. You need to print out put it in a frame hang it on your wall and use it to go through every single stage of property investment because that’s how you expand your property portfolio.
[00:01:02] I firmly believe that every single property investor should have this and there are hundreds of thousands of property investors. So if you haven’t yet got that at least in your inbox and you’ve opened it and you read it. You need to go to NC real estate dot code or UK forward slash flow chart so that you can download.
[00:01:27] Your copy and also once you’ve done that you also get access to my newsletter and my newsletter comes out every single Sunday 7:30 p.m. UK time. It’s definitely one not to miss a couple of weeks ago. I put out a newsletter about a feasibility study that I was doing on a bungalow that. It’s within my family.
[00:01:49] It’s three bed Bungalow two double bedrooms one single bedroom. It’s been a rental property since my mom moved out of it, and I wanted to do a development on that plot of land because it is a big plot of land. And I instructed Architects to got come and draw plans speak to the council about pre-planning advice to see what we could actually do.
[00:02:13] I went through five options of how we could develop that Bungalow the first being that I was going to lock the structure down and put up two times three beds semi detached properties. Yeah, it’s very expensive and we weren’t going to get the money out of it. In fact, I think it was only going to be nine thousand seven hundred pound profit not worth my time.
[00:02:33] So we weren’t going to do that. Number two was I had plans drawn for a rear extension changing the garage into a kitchen and a side extension that was about 80,000 pounds worth, of course and to make a large for bed. We won’t going to get the money out that we wanted to number three was to just.
[00:02:52] Sell the property as is but again, yeah would get something out of it enough to pay off the mortgage and have a little bit of money left over but it wasn’t ideal number 4 was to do the garage extension and the side extension which was going to cost about 60,000 pounds because it’s planning involved with that as well.
[00:03:12] And then option number 5 was just to knock through into the garage and change around. Little bit of where the doors were for the three bedrooms because that would mean that I could take out a corridor make the small bedroom into a double and have 3 nice size bedrooms plus a really large living space.
[00:03:31] That’s the winner because that’s not going to cost anything more than 20,000 pounds to do and the increase in value is going to be about 85,000 pounds so completely worth it in the meantime. Whilst we go out and get quotes for Works. We’ve now got short-term tenant in there who’s paying the rent tenant will then move out just before the fixed term of the mortgage product comes to an end will do the works and sell it.
[00:03:57] Hopefully that will happens really really quickly. But of course, you know, it’s me I budget for worst-case scenario. So there’s a good six months on this celled time. Now, I know it’s not going to probably take six months because I’m going to make it look beautiful and Stage the hell out of it. I mean could decorate it nicely and make it look beautiful and put lovely Furniture in there which would help it to sell but you’ve always got the plan for worst-case scenario because you never know what’s going to happen over the next 12 months the market could fall off a cliff we’ve seen over the last.
[00:04:32] For weeks the stock market kind of bounced around I’ve certainly seen it. Seen the risk levels change with the fluctuation fluctuation in the currencies at the time of recording this yesterday. There was seventy three Pence to $1 this morning. It’s eighty five pence to a dollar what happened in the space of 24 hours that to me shows a really.
[00:05:04] To two different economies. So the UK and the US really fluctuating and being quite risky and there’s a lot of uncertainty there at the moment. So I am planning for very worst case scenario just in case. Anything goes wrong? I can be like, yeah, I forecasted that and it’s fine. I’m holding. My nerve.
[00:05:24] I’m confident I can still do what I say. I’m going to do and everybody comes away feeling good about life. That’s what we need to be planning for in the property investment world right now. So if you can take away one thing from what I’ve just said about this whole Bungalow feasibility study. Is that you need to be planning for absolute worst case scenario?
[00:05:46] I’m not doing anything risky right now. To be honest with you. I am simply doing things that I know for definite are going to add value to my properties, but not cost a lot of money. So. The whole point of that story was that I put that out in my newsletter with pants so you could see the plans. So if you haven’t yet?
[00:06:08] Subscribe to get the flow chart and then having my newsletter do that and see real estate dot code at UK forward slash flowchart put in your name your email address and I will send you my flow chart today. I’ve got a topic that I really want you to work through with me because I think it’s really really really important that we think about.
[00:06:37] This I’ve had a couple of people say to me this week. They do not know what strategy they’re doing. They don’t know how to up level their property portfolio. They don’t quite know what to do next or how to plan properly. And do you know what I say to you? We have to bring it all back and we have to start thinking about our values.
[00:07:03] Why do we have to start thinking about our values? Well, let me tell you this your values. Really shape the way you operate. They shape the way you operate personally. They shape the way you operate professionally they show up in your business and by business. I mean your property Investment Portfolio, they sharpen the way you work they show up in the way that you deal with people they show up in the way that you show up and your values are really those core beliefs that you feel that you should operate by.
[00:07:40] Now I started really thinking about my values really really really thinking about my values when I was 21 around the age where I was at my third year of University and I have to admit I had grown into a bit of an asshole. I wasn’t the nice I had this really weird thought process now. This had come from me trying to protect myself.
[00:08:12] So from the first year of University onwards. I was really heavily bullied. I was bullied about the way that I spoke. I was bullied about the things that I found interesting. So, for example, I was doing a jog Rafi and Computing degree and I got incredibly bullied about being nerdy to do with that.
[00:08:34] I was bullied about the fact that I didn’t want to go out and party every single night. I was bullied about the fact that I. Well, I didn’t want to go out and party because I was working at the time in my first and second year. I was working as a shop assistant for Dorothy Perkins and Burton in Worcester.
[00:08:55] So I couldn’t go out every night because inevitably I would always get the 8:30 to 12:30 shift in the morning before my lecture started. I was bullied about the fact that I did like to spend afternoons in the library doing my work when I wasn’t working or in lectures and that was this group of students that would pick on me and pick on me they’d walk then walked past my car in key it or they would.
[00:09:20] If my door was open to my dorm, they would pour stuff over the floor or if I my food was out in the kitchen or I had any food in the kitchen. They just throw it all in the bin or if I was in the library, they would push all of my books off the side as they walked past and sometimes even my laptop it.
[00:09:40] So irritating the annoying and then if I was out in the same club that they were then and they were trying to Corner me in the bathroom, right? It was so freaking annoying. I will and I remember just getting angrier and angrier and angrier about this situation and I used to think would you know what that they’re only picking on me because I’m better than that.
[00:10:06] Right. That was the only way that I could deal with it. I am better than these people and so I’d started becoming quite obnoxious about it. You know, well, they’re down here and I’m up here. That was the only way I can cope only whether I could cope and I’ve never ever had this kind of this opinion in my life, but that was that was what I’d had to develop because then I would think well, the only reason they’re picking on me is because they want to be me and they must want to be me because I am so much better than that.
[00:10:36] Like it or hate that opinion. That’s the only way that I could cope and going into my third year where I started working as a letting agent and I was working pretty much full-time in The Bullying had got worse and worse and worse than someone let down my car tire. Someone was chucking stuff at the wind at my bedroom window.
[00:10:55] I kind of had to just go inward or myself and just keep this belief that that was what was happening. You know, I’m better than them, but then I started projecting that outwards as I’m better than everybody blah blah blah, but I was protecting myself. And one day my dad when I was visiting back in bath my dad sat me down and he said to me I don’t know who you think you are at the moment.
[00:11:21] But you are definitely not representing the values that I’ve brought you up with. He said this obnoxiousness this thought that you know everything and that you are everything absolutely has to stop and you have to figure out a new set of values so that you become a nice person. And I just lost myself somewhere along the way because I was protecting myself.
[00:11:45] I didn’t want to be hurt every time I walked into University. I didn’t want to have to deal with the fact that I just wanted to cry the whole time because I didn’t want to be in this situation. I didn’t want to walk down the corridors and feel like someone was going to knock into me and then laugh at me.
[00:12:00] I don’t want any of that and I just shut down and I was pretending I was a different kind of person so that I just didn’t have to deal with. But that wake-up call for my dad One Night in the pub as he was just kept on buying me pints of cider was like I have to find values to live by I have to find that values to live by and switching that around and starting to decide on my values was then the way in which I was able to operate so I was able to figure out how I wanted to show up in the workplace when I left University.
[00:12:36] I went traveling around the state. So after I left University actually for three months my values were how did I want to show up for other people, you know, I couldn’t go to a different country being closed down thinking I was better. I had to go and be open to what they were going to teach me so slowly, but surely I worked on dissolving my barriers.
[00:12:57] And thought right I will now and here’s what it did. I literally did this. I started working full-time in my third year of University. I negotiated my way out of lectures and said I’ll do the lectures in the evening. I’d never told the university what was happening because I didn’t trust in the fact that they could protect me.
[00:13:20] I had to protect myself still but I was like to know what I’m going to show up as an adult. I’m going to show up as the adult that I want to be. And that was the decision that I made so I was now working full-time for the letting agent apart from a Monday afternoon when I did have to go to lectures and I had to show up as a professional and that professional was somebody who listened you phoned me up at the letting agent.
[00:13:43] You tell me what you want what you wanted. I’d write it all down and I’d see what I have. So I’d listened. I was going to solve your problem if I couldn’t solve your problem. I. I made the decision that I was going to be honest. So I would say no we don’t have that. But if we do, I’ll let you know immediately.
[00:14:01] And if they said well we hear that from every agent I’d go no, I’ll definitely follow up with you. I’ll let you know. We haven’t got anything. So I started creating these lists of everybody that I needed to email one list was some I could email them immediately with a property on got fat send that over or I could email them and say no we don’t have anything this week or I could email them and say look there’s potential that we’re going to take on this business and you might want this.
[00:14:27] Do you want to get in the waiting list, right? And so I was actually honest about what I said I would do and I showed up and did what I said I do. Which led me to select another value that I realized what really well if I say I’m going to do something. I do it regardless of what anybody else thinks or what anybody else thinks of me or whatever comes up.
[00:14:53] If I say I’m going to do something I do it which has really helped me in business when I’ve set up my own business because a Lass. Something terrible is happening. And I must admit I can’t remember the last time I’ve canceled on somebody. but if someone dies, okay, fine Hall Pass fine, if. I don’t know.
[00:15:17] There’s an earthquake or there’s a natural disaster fine, right? There’s really only very limited times when I say okay, I can’t do this apart from that. If I say I’ll show up. I’ll show up. If I’m telling someone something I’m saying it from the bottom of my heart and being honest about it to the best of my ability.
[00:15:37] If I can’t do something I will tell you I can’t do it and that’s another value that I’ve shown up with. Another value is treat every single person with respect going back to that conversation that I have with my dad. I had to change that they’re in there because actually was embarrassed of myself.
[00:15:55] I was really embarrassed about myself and. From that day on I vowed that I would listen to it what everybody had to say and I treat them with respect regardless of what was going on. And that doesn’t mean you have to like everybody or get on with everybody that just means that they are doing what they do with the best that they know how and if you don’t want to associate with that person.
[00:16:18] That’s fine. You can just simply be polite about it, but you don’t have to hang out with them or be with them. and. Final value that really really really really I wanted to take on was being open. If you ask me a question. I’m going to give you an answer about. What’s actually happened? I’m never going to sugarcoat something because I feel like oh, that’s the past and this is this is you know, I don’t like that side of me.
[00:16:54] I mean if I if I wasn’t open I want of just told you that I was an asshole at 21. But it didn’t mean to be but it is what it is. I’m through these experiences. I’ve cultivated these values and put them into my business. But also the way I invest in property now, here’s the thing when you’re bringing your values to your strategy, you’ll then saying this is how I’m showing up.
[00:17:22] So for me I show up with honesty with transparency with an openness with a willing to be where I say, I’m going to be and knowledge that. I’m going to treat you with respect. So I’m already coming any situation with myself. I’m here. This is what I say. I’m going to do I’m here. What do you need from me or what?
[00:17:46] Can I give you and I’m only putting myself in situations that I want to be right if something really doesn’t gel with what I’m doing or I feel like something’s off morally or ethically I’m not going to turn up. But I’m also not going to commit to turning up either. I’m not going to be like y’all come and then not show.
[00:18:07] I’ll be honest about it because I firmly believe that that’s how I have to do business and that’s worked incredibly well for me because there is no way that I’m going to tell you that something is easy. I don’t think I’ve ever told anybody that investing in a property is easy because there are so many moving parts that you have to get involved.
[00:18:29] But I also because I know that I’m going to show up because I that’s my goal. I’m going to show up for my goal. I know that I’ll do what it takes to get there. I don’t quit because I’ve said that I’m going to do it and so you need to bring these values your own values into your property investment strategy because that’s what’s going to keep you going.
[00:18:49] Now. If you have a value that when the going gets tough It’s Time to bow out bow out. You’re not going to get to where you want to be. So you need to readdress those values and think actually what are the values that I can incorporate into this business or my property Investments, so why wouldn’t you I really want you.
[00:19:11] To have a think about what your values are and how they show up for you because you need to bring them into your property investment strategy. For example, if say you like looking after people and you believe that everybody needs a safe home, which I definitely believe you’re going to be looking at buying a property that you can turn into that safe home and you will get the best tenants because you are looking after them that strategy has started with your values and those values Propel you forward to hit your strategy.
[00:19:41] Similarly, if you’re going to treat everybody with respect it means that when you’re going through a deal and something happens that you don’t like you’re not on the phone screaming at someone you’re on the phone actively listening to what you can do to make the situation better. And that is a successful deal because you have kept relationships tight and that will probably move forward.
[00:20:03] That’s your value showing up your property investment. If you have decided that you are going to be honest and you’re going to be open. That means that when someone asks you a direct question you give them the exact answer for example, Natasha. Do you have the deposit for this property me? No, I’m going to get an investor to lend me this much.
[00:20:26] I will have the money in place by this date fabulous. That’s what you need to show because if you bring that people are going to trust you and trust is what means that you move forward trust gets you Investments trust gets you the best property deal trust builds landlord and tenant relationships trust brings in money.
[00:20:49] So what I urge you to do. I start thinking about this. How does this show up in your life? How do you bring this with you on the. Write it down put it on sticky notes and hang it in front of you. Do they do what it takes to make sure that this sinks in. I want you to write down your top five values.
[00:21:17] So I’ll go through mine again because you’re more than welcome to borrow them. If you want honesty openness transparency respect and showing up. Those are the five things that I live by every single day. And yeah, sometimes it is hard because you do have to sift through the people who don’t do what they say they’re going to do or maybe lie through the skin of their teeth to get something to happen.
[00:21:46] But anybody who says to me that I have. Black my way through doing through sit telling lies or misshapen the truth or kind of massaging the realities of what’s going on isn’t my person so I don’t have to do business with them and that is cool. But I know that when I’m showing up and I’m seeing my team and I’m speaking to my team.
[00:22:08] They’re going to give me back the same values that I reflect on them. And so my working life my professional life as well as my personal life. Becomes a place that I want to be in. It doesn’t mean it’s always easy. It doesn’t mean it’s always simple but it means that I know what I’m dealing with when I arrived to start work or start doing whatever I want to do.
[00:22:33] So you need to write down these five values and I want you to show up with them because your values reflect what you get back out of your property investments in your strategy. And if you need to change those values that’s go to values can change your values are always going to change let my values change drastically and one conversation when I was 21 and that worked out for the better.
[00:22:59] It doesn’t make you a bad person. It just means that you’re learning and I’m always going to be learning. I don’t ever ever preached that I know it all anymore. I never did really in the first place, but I done it to shut down. I’m always learning to I’m always seeing new situations, which is why I also stay open so that I can hear what people are saying to me.
[00:23:20] I listened I see I absorb I asked questions. I’m open to it and you need to be too because the world keeps changing the way we operate keeps changing. You should look around you and things are changing at the speed of light and that’s okay to change your values. But you need to have your core value set out so that you can operate a strategy that works for you and the strategy that works for you as a strategy that you’re going to want to move forward with.
[00:23:50] So today as your key takeaway from this podcast work out your strategies. No work out your values. Does your stress you fall in line with that? Are you building a property portfolio and a property business that aligns with your values? If not, how can you change that? Because I promise you you show up from a place of your values and whoever you’re dealing with is going to mirror that and you’re going to get out of it what you need.
[00:24:19] So go forward, find your values and tell me what they are if. You feel compelled to email me with your values Natasha at NC real estate. Co dot u k let me know! Let me know what you show up with because I am always so, so interested! So I hope that’s been a really informative podcast for you, and I hope it’s open your eyes the fact that you know, what we’re all humans.
[00:24:53] We are all human. I’ve learned huge amounts along the way and that one conversation prompted me to show up how I actually naturally show up and I always do it. I hope that I’m approachable enough that you feel that you could always get in contact with me or that you could work with me and. If I shall same values as you then obviously would work incredibly well together.
[00:25:17] So back to the beginning, if you want that property investment success formula still go to NC real estate got cut off UK forward slash flowchart. You definitely need to download it and then every Sunday you get my newsletter straight into your inbox.
[00:25:35] I hope you’ve enjoyed today’s podcast, I hope it’s been food for thought because that’s what I want to bring with you. Key takeaway should be that you need to work out your values and you need to operate your strategy from there.
[00:25:48] Have a lovely week. I cannot wait to catch up with you again soon!
