EPISODE · Oct 21, 2018 · 21 MIN
#18 Killing the Procrastination Monster
from Property Sourcing Profits · host David Siegler
Welcome to another edition of the Property Sourcing Profits Podcast. Today, David shares with you a personal experience about procrastination and how you too, can avoid the procrastination monster and get yourself out there and start getting deals. What stops us succeeding isn't always our lack of knowledge or lack of resources. It's the fact we simply don't do it enough, we procrastinate and we let the procrastination monster win by giving us the excuses that hold us back from succeeding. If you can defeat the procrastination monster you can achieve the freedom and the success that deal packaging can give you. KEY TAKEAWAYSTips To Avoid Procrastination It's too difficult - There are things in life that are hard, sitting in estate agents and building a network to secure great deals isn't. Deal packaging can be a great cash flowing strategy if you get out there and talk to people. I don’t know what to say to estate agents - You need scripts to follow and a step-by-step system to stand by Be honest - Go and talk to estate agents, tell them who you are and what you're looking for and form a good relationship and become the go-to investor in your local area. Get rid of the fear of uncertainty and just go and do it - Go to your local estate agent and make them aware of what you’re trying to do and the properties you’re looking for. Don't be fearful of success, get yourself out there. If you want to run a successful deal packaging business you need to have the leads coming in from estate agents and the investors ready and waiting. The Buy, refurbish, remortgage model works great but it always leaves money in the deal. Deal Packaging doesn't. Implement systems in your deal packaging business - This will allow you to get more done and free up your time to view as many houses as possible and give you the time to build relationships with your local agents. Don’t be a process person - Get out there and talk to people. Processes don’t get deals over the line, people do. If you have a good relationship with your estate agent and your investors you’ll definitely be a successful deal packager. Get a local goldmine area - If your goldmine area is a long drive away from where you live, you’ll easily find excuses not to go and to stay at home and procrastinate. Find a goldmine area local to you and spend some time there. BEST MOMENTS “Estate agents are your number one tool” “Get yourself a coach, get yourself a mentor and get yourself out there” VALUABLE RESOURCES #016 How To Promote Your Business On Facebook ABOUT THE HOST David is a property expert with over 25 years’ experience and his own portfolio of 26 units. His current rent roll is in excess of £10k per month. He is also a partner in a Deal Sourcing and Packaging business in the North West of England and has sourced over 250 properties for investors since 2004. In recent years he has, by necessity, had to develop an expertise in LHA strategies. This area is increasingly becoming a niche for him and he enjoys empowering other landlords by sharing the knowledge he has gained. The ultimate purpose when sourcing properties in this sector for investors is to minimise risk while maximising profit. He has had to find answers to the challenges of Tenant Find, Management, ensuring rents are paid and the transition to Universal Credit. These are strategies he uses in his own business and also on behalf of investors. His investor clients regularly achieve annual gross yields of over 20% with high occupancy rates and voids resolved, sometimes within hours. CONTACT METHOD David’s LinkedIn David’s Facebook
What this episode covers
Welcome to another edition of the Property Sourcing Profits Podcast. Today, David shares with you a personal experience about procrastination and how you too, can avoid the procrastination monster and get yourself out there and start getting deals. What stops us succeeding isn't always our lack of knowledge or lack of resources. It's the fact we simply don't do it enough, we procrastinate and we let the procrastination monster win by giving us the excuses that hold us back from succeeding. If you can defeat the procrastination monster you can achieve the freedom and the success that deal packaging can give you. KEY TAKEAWAYSTips To Avoid Procrastination It's too difficult - There are things in life that are hard, sitting in estate agents and building a network to secure great deals isn't. Deal packaging can be a great cash flowing strategy if you get out there and talk to people. I don’t know what to say to estate agents - You need scripts to follow and a step-by-step system to stand by Be honest - Go and talk to estate agents, tell them who you are and what you're looking for and form a good relationship and become the go-to investor in your local area. Get rid of the fear of uncertainty and just go and do it - Go to your local estate agent and make them aware of what you’re trying to do and the properties you’re looking for. Don't be fearful of success, get yourself out there. If you want to run a successful deal packaging business you need to have the leads coming in from estate agents and the investors ready and waiting. The Buy, refurbish, remortgage model works great but it always leaves money in the deal. Deal Packaging doesn't. Implement systems in your deal packaging business - This will allow you to get more done and free up your time to view as many houses as possible and give you the time to build relationships with your local agents. Don’t be a process person - Get out there and talk to people. Processes don’t get deals over the line, people do. If you have a good relationship with your estate agent and your investors you’ll definitely be a successful deal packager. Get a local goldmine area - If your goldmine area is a long drive away from where you live, you’ll easily find excuses not to go and to stay at home and procrastinate. Find a goldmine area local to you and spend some time there. BEST MOMENTS “Estate agents are your number one tool” “Get yourself a coach, get yourself a mentor and get yourself out there” VALUABLE RESOURCES #016 How To Promote Your Business On Facebook ABOUT THE HOST David is a property expert with over 25 years’ experience and his own portfolio of 26 units. His current rent roll is in excess of £10k per month. He is also a partner in a Deal Sourcing and Packaging business in the North West of England and has sourced over 250 properties for investors since 2004. In recent years he has, by necessity, had to develop an expertise in LHA strategies. This area is increasingly becoming a niche for him and he enjoys empowering other landlords by sharing the knowledge he has gained. The ultimate purpose when sourcing properties in this sector for investors is to minimise risk while maximising profit. He has had to find answers to the challenges of Tenant Find, Management, ensuring rents are paid and the transition to Universal Credit. These are strategies he uses in his own business and also on behalf of investors. His investor clients regularly achieve annual gross yields of over 20% with high occupancy rates and voids resolved, sometimes within hours. CONTACT METHOD David’s LinkedIn David’s Facebook
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#18 Killing the Procrastination Monster
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