The Progressive Property Podcast The Truth About Scaling Your Property Business
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Kevin has over 20 years of experience in property investing and his portfolio is now worth in excess of £10million. But it wasn’t always this way, the first 10 years of Kevin’s property journey wasn’t easy, and he ended up in a significant amount of debt. But he then found Progressive Property training and invested in his education, turning his business around.
Listen in to this episode to learn about the truth in building a large property portfolio, learning from both the mistakes of Kevin’s past and the wins he has found in the last decade, particularly around staff.
KEY TAKEAWAYS
- You can’t build a large portfolio all on your own. You need to work with a team.
- Once Kevin managed to get himself out of debt he then focused on building his portfolio enough for it to be his full-time venture.
- Staff produce a variety of challenges and this only grows the more you scale.
- Ensure you pay your staff what they are worth, this works both ways, ensure you don’t overpay as this can become difficult to control.
- At the beginning of your journey look at remote staff to hire, such as virtual assistants, to help you scale before committing too much to in-house staff.
- Experienced people who don’t need full-time hours but can be flexible can be great staff to hire before starting with full-time staff.
BEST MOMENTS
“All I wanted to do was get out of debt”
“Everybody has their uncomfort zone”
“Hire fast and fire slow”
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/
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