From Broke Student to £4.8 Million Portfolio with Ahmed Khan
The Progressive Property Podcast
The Mindset of Making Excuses
This chapter explores the mindset of individuals who often look for reasons to not take action rather than finding ways to overcome obstacles and just get started. It emphasizes how people make excuses to justify their inaction and convince themselves that they are not in a position to take action.
Kevin interviews Ahmed Khan, a property investor who started his journey while still in university. Ahmed shares how he got into property by attending Kevin's MSOPI event, and then working for free to gain experience and credibility. Ahmed explains his stepping stone approach, starting small and working up to bigger projects while building confidence and talks about why anyone can get started in property right now.
KEY TAKEAWAYS
- Ahmed attended a property event while at university, realising he could invest without large deposits by using other people's money.
- He worked for free on commission to gain experience and credibility, allowing him to raise his own money later.
- Started with low-cost strategies like rent-to-rent, making cash flow to save up for deposits.
- Ahmed transitioned from rent-to-rent to buying properties, converting them (e.g. 1 bed to 2 bed) and refinancing to get his capital back.
- He then took a stepping stone approach, starting small and then progressively doing bigger projects as his confidence grew.
- Be pessimistic about your limitations rather than overly optimistic, so you don't set unrealistic expectations.
- Take small actions aligned with your experience level to get started, knowing it will lead to bigger things later.
- Have a long-term plan (5-10 years) rather than expecting success immediately, reducing pressure.
BEST MOMENTS
"I'll work for you, not for free, but for commission, right? I’ll help you raise money and those sort of bits and I'll, I'll take a part of the deal."
"When I make a video where I've just done a house into five flats. People assume I've just started and I've jumped straight into this, but they've missed the bits where I was raising 2000 pounds for a small rental, rental."
"I think anyone can't do a house into multiple flats, but they can do a one bed into a two bed. But what happens is the second you do that, that unlocks the experience and the confidence to do the next the house into two and you know Then the house into four then the house into five."
"Rather than being optimistic, you have to be pessimistic, and be like, you know what, I actually, I'm not that good, I don't have that much confidence, I don't have experience, I'm just gonna find the smallest, shittiest thing I can find, and I'll just do that because I I can't do anything else."
"Just go into it knowing just knowing that you suck right and then if you go into it with that intention You don't do the big stuff like yeah, yeah, I can't do what Kevin's doing I can't do what this person's doing because I'm not that person."
VALUABLE RESOURCES
MSOPI – Multiple Streams of Income:
https://www.progressiveproperty.co.uk
ABOUT THE HOST
Kevin McDonnell is a Speaker, Author, Mentor & Professional Property Investor. He is an expert when it comes to creative property investment strategies. His book No Money Down: Property Invest talks about how to control and cash flow other people’s property to create financial freedom.
CONTACT METHOD
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