The Progressive Property Podcast How important is Mindset in Property - Podcast Interview with Edmar Mac
Jun 29, 2020
01:02:40
Today Kevin McDonnell is being interviewed by Edmar Mac. We’ll hear Kevin’s story, from how he went from £135,000 in debt to a top property investor. It wasn’t always easy, and he made many mistakes along the way- but now you can learn from them. From getting educated to the importance of mindset, Kevin talks you through his journey to get to where he is today.
KEY TAKEAWAYS
- How it went wrong- Kevin wanted to get into property, but didn’t know how to do it. After asking for help from a friend who was already investing, he decided to buy abroad in countries he didn’t know anything about, let alone the language. This ended up costing him dearly as he had no idea what he was doing. Moral of this story- never sign a contract you can’t read!
- How it got better- He lost all this money but didn’t give up. He came to Progressive to get educated in 2013 (10years after his first mistake!), and it changed his life. He got educated to find out where he went wrong, and more importantly, what he can do right. It’s the right knowledge with the right mindset that can push you forward.
- What pushed him on- With mindset, it’s not about where you are, but how you see what is around you. With the right mindset, you can get through any setback, just like Kevin did. He could have easily given up and thrown in the towel, but he didn’t give up, and decided to dig his way out of it.
- He never stopped- He went on to look at property deals and discover what deals he could do with absolutely no money. You need to get creative. He calls this “No Money Down”. If you need money, it doesn’t have to be YOUR money. You could be doing this already with a mortgage on your own house.
- How do others do it?- Those with big portfolio of 20, 50 even 100 houses didn’t do that by saving money they got from a job- they got creative. Using these creative strategies can open up a world of deals that you don’t even realise were available to you before.
BEST MOMENTS
- “It’s not what happened to you, it’s how you deal with what happened to you.”
- “You can’t change the mistake, it’s done. As soon as you own the mistake you can move forward”
- “I got in debt quickly, but you can get out of debt quickly with the right knowledge”
VALUABLE RESOURCES
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
- https://www.facebook.com/kevinMcDonnellProperty/
- https://kevinmcdonnell.co.uk/
- http://progressiveproperty.co.uk/