This week, Rob talks to husband, entrepreneur, podcaster and property investor, Stuart Lordan, the founder of Lord Panda Property.
Stuart’s success has been built on the back of some wise decisions, some canny investments, and by overcoming a variety of obstacles. The reasons behind his property ventures are all too familiar; wanting to provide an alternative income in order to support his family, and to increase the amount of time spent with them.
In today’s show, Stuart discusses his motivations, the perils of expecting to “get rick quick”, the value of patience, and the importance of effective systems and processes, and how they can make all the difference to your property business.
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KEY TAKEAWAYS
Stuart’s property journey began when he looked at a number of different avenues in order to create a sustainable, alternative source of income.
Stuart’s first love is his family, but although he was working to provide them with a better life, the time away from them in order to do so didn’t make any sense. Why put so much effort into providing for a family you never see?
Property investment is often seen as a get-rich-quick scheme that nets instant and substantial rewards. But the real rewards are for the more patient investors. The long game is the one worth playing.
It’s important to do the groundwork in the areas you wish to invest in. Speak to agents. Speak to local people. Read the local newspapers. Get a feel for the area.
Transparency and honesty are key in building relationships. Maintaining a good relationship with your power team is crucial in finding the best deals and creating success.
Systems and processes are a vital component of ensuring that your property ventures function at their maximum potential. One property at a time will serve you better in the long run.
Focus and strategy are all very well in property. But what happens if it all goes wrong? Contingency plans and backups should be as essential part of your property business.
BEST MOMENTS
’There was an incongruence there that needed solving’
‘Once you have that momentum, it’s very hard to shift’
‘Get under the skin of those fundamentals’
‘It’s not rocket science - just treat others as you would wish to be treated’
‘Without processes in place, it’s very difficult to know where you stand'
VALUABLE RESOURCES
The Property Nomads Website
https://podcasts.apple.com/gb/podcast/the-property-nomads-podcast/id1440016017
The Property Nomads - Stitcher
Buy To Let: How To Get Started – By Rob Smallbone (Amazon)
Lord Panda Property - http://www.lordpandaproperty.co.uk
Stuart Lorden LinkedIn - https://www.linkedin.com/in/stuartlordan/?originalSubdomain=uk
Executive Juice Podcast - https://executivejuice.com
ABOUT THE HOST
Rob Smallbone the host of The Property Nomads Podcast, is 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 wants to make a huge difference to people around the world. He is here to guide your success in property, business and life and to inspire you to achieve your goals, dreams and visions. He's travelled, explored, and invested. And he's 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
