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How to start out in the property business


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  • 2 weeks later...

Hello,

 

I was looking to get some, advice from anyone about the property business.

 

I am very new to property and don't know much about it or where to start, however I do have a growing interest in it. 

 

 

Open to any advice or suggests that you may have.

 

Many thanks

 

Hi Lauren,

 

What is it you want to know?

 

I would suggest listening to the Property Podcasts to start with.

 

There is so much great advice within them and they are free - You should listen to them all before you part with any money for property courses. Also within the podcasts there are other great resources and book suggestions.

 

All the best

 

James

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Hi Lauren,

 

If I were you I would try and find a successful property investor who can become your mentor very early on. Not a mentor which charges you £10,000 for a 3 day workshop, but a property investor in your local area who has just say 10-20 rentals (there's quite a few about). Offer THEM something in return right at the start, the biggest mistake is when people act like it's a privilege for the mentor to be working with you. For example, one weekend offer to help clean up one of their properties (saves them money), build a website for them, do admin work, etc, etc.

 

The second thing is to work backwards. Figure out what you want to achieve in lets say 25 years and then figure out exactly how and what you need to do to get to that objective. If you want to retire at 50 for example, how many rental properties would you need to provide your desired level of income? Alternatively, you may want to move into flipping, so buying a run down house, refurbish it and sell on for a profit.

 

And the above post was completely right, you need to learn from pod casts, books, seminars (be careful here) and other sources. I obviously recommend the classic Rich Dad Poor Dad book to open your mind to possibilities and also reading through posts on this forum.

 

If there is anything else you would like to discuss, please contact me: info@shyfishdesigns.com 

 

To your success, 

 

Jack

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Immerse yourself in it.

Get books, get the Property Hub magazine, listen to the podcasts, go to the meet ups. Learn learn learn!

 

Start with Rich Dad Poor Dad by Robert Kiyosaki. Very good and will change your way of thinking.

 

Completely agree with Nick. You need to eat, sleep and breathe it. However, if the passion isn't there then you won't succeed. It's a lot harder than all these so called Guru's make it out to be.

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  • 1 month later...
  • 4 weeks later...

Hi Lauren

 

Joining in this discussion a little late, however, I think your question relates to LOTS of people that will happen across this post, so well worth responding I think.

 

Here is a blog post I put together a while back, many of the same principles apply today: http://www.thepropertyvoice.net/property-education-wisdom-experience-yin-yang/

 

What has changed since I put this together? Well I have created even more resources aimed in particular at newer investors but I won't bang on about them here...you can probably discover them by following the link above and having a browse around my website. By all means then do drop me an email as I am happy to help with some general pointers :)

 

All the best,

Richard

Richard W J Brown a.k.a. The Property Voice

Property Investment Strategist

10%+ ROI property deals every week: check out PROPERTY DEAL TIPS
Amazon best-selling author Property Investor Toolkit & #PropTech, YPN Magazine columnist & PODCAST host

Web & Blog: The Property Voice | Curated property news & insights feed

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Let's connect...mention The Property Hub :)

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