It can be easy to get overwhelmed with all the property strategies out there. So why not focus on one until you’re successful at it? In today’s episode, the Property Nomads help you to discover the right property strategy for you, to help achieve your goals in order to your ideal lifestyle.
People don’t always pick the property strategy that’s right for them. It’s easy to have that ‘shiny penny syndrome’ and get overwhelmed. What you need to do is pin-point the one strategy that resonates with your goals.
Press play now to find out how to select the most suitable property strategy for you.
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KEY TAKEAWAYS
The methods for choosing your property strategy:
Do a S.W.O.T Analysis (Strengths, Weaknesses, Opportunities, Threats) to better understand the best strategy for you.
What resources do you have to your disposal? Do you have the money, time, knowledge and network to be successful with your current property strategy? Work out what skills you have at your disposal that can be implemented in a certain property strategy.
Time vs Money. Have you got time and not a lot of money? Or have you got money and not a lot of time? Normally you’ll either have one or the other and you will need to employ the right property strategy to be successful.
What do you need to meet the standard of your lifestyle? Choose your property strategy based on what you require to live. Is it large chunks of cash? A passive monthly income? Or appreciating assets? Design your life and the pick the right property strategy to help you achieve it.
Get clear on what you want to achieve and what lifestyle you’d like to lead and then you can pick the right property strategy to help you achieve your goals.
If you want chunks of money, then flipping property may be the best strategy for you. Property sourcing, commercial conversions and modular developments will generate you chunks of money, rather than a monthly income. This is a long-term strategy so do not expect money straight away.
If you’re looking for cashflow to get you out of your day job, then buy-to-lets and HMO’s are the right choices for you. Rent2Rent, serviced accommodation and lease options can all help give you a monthly income, rather than sporadic chunks of cash.
Focus on one strategy until you're successful, get it systemised and then look at another strategy to complement your portfolio. As long as it helps you to reach your goals.
BEST MOMENTS
“The UK is not building enough houses; housing needs to increase to meet demand.”
“Your resources will impact on how you determine your S.W.O.T analysis.”
“Having no money means your back's against the wall and you will push hard and be more creative.”
“It’s better to be a bit selfish than selfless.”
“No matter your situation you will need to utilise and leverage to your advantage.”
“Investors have strategies that generate chunks of money.”
VALUABLE RESOURCES#007: 7 Areas of life you NEED to set goals in!
ABOUT THE HOSTSRob Smallbone and Matt McSherry, the hosts of The Property Nomads Podcast, are on a global mission to guide your success. Success can happen in many ways, shapes and forms. Think about what success means to you. More properties? More clients? Financial freedom? Time freedom?
Rob & Matt are just two guys who want to make a huge difference to people around the world. They are here to guide your success in property, business and life and to inspire you to achieve your goals, dreams and visions. They’ve travelled, explored, and invested. And they’re not planning on stopping these activities anytime soon. Buckle up, sit tight and enjoy the ride that is life.
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uk property, Investment, Property, Rent, Buy to let, Investing for beginners, Money, Tax, Renting, Landlords, strategies, invest, housing, properties, portfolio, estate agents, lettings, letting, business: https://patreon.com/tpnpodcast
