Lesson 003: ‘Why is your attitude so important to your success in property?’ Because how you think, will always give you the reference for what you do. If you think of property deals as being scarce, you are unlikely to find many good ones. It is likely that you will likely cling on to a poor deal (I have seen it happen so often) that will either cost you money, time or respect from your fellow investors. You need to realise that this is a statistical model, which works on numbers. Think of deals like a Standard Distribution Curve – you are simply looking for properties that are to the left hand side of the curve – which will have equity in them to generate wealth. These properties exist in every town and city - it is your role to find them through good sourcing systems. (insert standard distribution pic) We were told when we first started in Bristol that we would not be able to make it work here, that Bristol is a highly successful economic city, where property deals are not to be found. Whilst it is true that economically this Southern City is affluent and stable, which is a great macro environment for our investors, and us, I ignored the advice about not being able to find deals – this is a numbers game, and we simply work hard enough to process the numbers! Deal sourcing can be successful anywhere – you simply need to work the numbers. See what Lee has to say about our systemised method of sourcing deals, and how having learnt the system, he will now implement it into his own, already successful property business. Lee came to my annual Mentoring Programme, and can be seen alongside Sebastien and Spiros, giving you their thoughts on the day. ow.ly/tAvS8
Posted on: Thu, 28 Aug 2014 16:57:08 +0000
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