The Progressive Property Podcast LIVE Q&A: What Are the Best Property Hacks, How to Find Deals, Optimise Cashflow
‘Most people know what they want to do they just don’t have the money to do it,
‘No Money Down’ is how you do what you want to do’
Live at PPN Blackfriars, this Q & A with Kevin and the panel is an opportunity to hear questions from entrepreneurs at the start of their property journey.
This session is a great way to hear what the challenges are and how they can be overcome with detailed advice from individuals who have done it themselves.
Property is a people business and a ‘no’ is just the beginning.
KEY TAKEAWAYS
Overcoming the rejection
- ‘Go for no’ it's hard but the more ‘no’s’ you get the closer you are to a yes.
- You should be practising out of the area so that when you approach your preferred agent you are able to interact professionally.
- You got to know what you are going to say and have ready the answers to possible objections.
- Using a script can be useful in putting forward a professional persona.
Working with a business partner
- You can work smart and hard but in the beginning, finding a joint venture partner can be a positive way to move forward.
- Someone who has complementary skills will broaden the skillset you can offer and increase the potential opportunities.
Finding properties
- You cannot structure a deal unless you know about the person selling.
- Property is a people business.
- Build a relationship with the agent and show them you are serious.
Purchasing with no money down
- It always depends on what position the seller is in and how good you are at negotiating a deal.
- Any professional property investor focuses on solving the other person's problem.
- The concept of ‘No Money Down’ is not a strategy it’s the way you deliver a strategy.
- ‘No’ is not the end of negotiation it’s the start of a negotiation.
- Negotiation is a learned skill you have to do it and implement it.
- At the beginning of your journey It’s not about getting a good deal it's about getting a deal.
- You’ve got to meet people and communicate face to face to build rapport and achieve a
RESULT
- Build Rapport with the homeowner.
- Empathise with them.
- Find out their Situation
- Gain good Understanding
- You earn or you Learn, you may not secure a deal, but you will learn.
- You’ve got to put the Time in, whatever it takes.
- You’ve got to walk into the property with a toolbox of options to solve their problems.
BEST MOMENTS
‘I have blown deals because I had a ‘yes’ and turned it to a ‘no’, it’s all part of the journey, part of the learning’
‘When I walk into a house I'm thinking how can I solve their problems?’
‘I spent years chasing the money and ended up in debt, solve other people’s problems and you will make the money automatically’
VALUABLE RESOURCES
No Money Down: Property Investing book by Kevin McDonnell
Go for No book by Richard Fenton
https://www.facebook.com/groups/progressivepropertycommunity/
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.
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