The Progressive Property Podcast A Day in The Life of a Property Investor
FREE DOWNLOAD How YOU Can Make A FORTUNE From Buy-To-Let
Kevin is out on the road, viewing his properties so wanted to do a ‘day in the life of’ whilst answering your questions!
KEY TAKEAWAYS
- Being in your 50’s is definitely not too late to get into property investing. It takes less time than you think to make just one deal, just start now.
- Don’t take a bridging loan on a property if you don’t have an exit strategy. You have to start with the end in mind.
- Joint venture with someone to build up credit. Use your time to benefit them but utilise their credit.
- How can you find your first investment property? Go direct to vendor, tell everyone you know that you are looking to get into property and market yourself.
- Trying to find good people in this recruitment climate is difficult at the moment so try and put this first and as a priority when you are scaling.
- When you buy a property, you should be adding value and creatively making deals. This protects you against the market.
- There’s no failproof way to know if your client is good or bad, you can do all the checks but this still doesn’t completely protect you.
- Your plan for property business should be how to create money from the houses you buy and to hold them long term.
BEST MOMENTS
“You can replace your income in 6-12 months”
“Don’t be emotional, take a financial decision”
“Educate yourself on how to find these deals”
“It’s not that you can’t find the deal, it’s just that you don’t know what you’re looking for”
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
https://www.facebook.com/kevinMcDonnellProperty/
https://kevinmcdonnell.co.uk/