The Property Podcast TPP016: How to solve any Property Problem
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Jul 4, 2013 Property challenges can be quirky, especially when managing tenants. The hosts introduce a unique four-box framework to tackle any issue, inspired by a method from Dale Carnegie. They explore common problems like cashflow issues and tenant departures, offering actionable insights. The discussion includes tips on brainstorming solutions and detaching emotionally from situations. They also touch on current trends in the mortgage market and the effects of surveyor shortages. This episode is packed with practical advice for property enthusiasts!
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Four-Box Problem Solving Method
- Draw four boxes labeled Problem, Cause, Options, Choice and write through each to structure any property problem.
- Use the process to externalize the issue, list causes, brainstorm options and then pick and execute a clear choice.
Writing Clears The Mind
- Writing a problem down brings immediate clarity and reduces emotional overwhelm.
- Listing multiple options often sparks better solutions you wouldn't think of otherwise.
Fix Cashflow By Diagnosing Causes
- When cashflow is poor, list all root causes such as low rents, expensive mortgages, voids or excessive maintenance.
- Then evaluate options like raising rents, remortgaging, paying down debt or selling a property.
