Who doesn’t love a Venn diagram or the odd flowchart?
However, there is really only ONE very simple diagram that will help you hone your property strategy and get started……
Let’s face it there is always going to be someone with MORE time, MORE money, and MORE experience. The trick to success is recognising this and setting out your stall accordingly. I am sure you have heard the word “leverage” mentioned time and time again in the world of property; well, it is so TRUE.
People often think of money when leverage is mentioned, but leverage can take the form of both TIME and EXPERIENCE; after all, how many posts do you see on social media where people are doing a JV; with one providing the money and the other the experience?
It is a NO BRAINER!
Before embarking on a strategy consider if you want a PROPERTY JOB or to be a PROPERTY INVESTOR.
The two are quite different……
Property Job – think hands on, organising people, finding properties, managing a team, running a business = TIME.
Cash in the bank, liquidity in assets, time poor, excellent job and income THINK MONEY
– find someone with TIME
Tonnes of experience, background in property, great relationships, love brokering deals – THINK EXPERIENCE
– find someone with money
You get the picture, we can be jack of all trades and master of none! But we can all recognise our skill sets and build relationships with people who compliment us and us them!
Our first SSAS Unconnected Third Part Loan did just that. We had the MONEY and EXPERIENCE, and our partner had the TIME and EXPERIENCE. WIN WIN.
If you want to find out if we might be able to help you on your property journey just book in a call for a chat.