Latest / The Property Unleashed Podcast / Navigating Through Your Rent-to-Rent Strategy

Transcript

Navigating Through Your Rent-to-Rent Strategy · The Property Unleashed Podcast

• 0:00
  Speaker 1: over complicating the rent-to-rent strategy.
• 0:02
  Speaker 1: Hello, my name is Martyn Fitzgerald.
• 0:15
  Speaker 1: It's great to have you joining me here today, here at the Property Unleashed podcast.
• 0:20
  Speaker 1: Why do people overcomplicate things?
• 0:22
  Speaker 1: Well, it seems to be in human nature to just go out there and to just overcomplicate whatever is put in front of us, and I see this time and time again with a lot of students that I work with on the rent-to-rent business builder, where we're building rent-to-rent businesses.
• 0:37
  Speaker 1: Now, whether or not you're building an HMO business or a short-term rental service, accommodation, rent-to-rent business, it can be very, very easy to get overwhelmed and caught up in things that will probably never happen.
• 0:51
  Speaker 1: Time and time again, we overthink things.
• 0:54
  Speaker 1: What happens if this happens?
• 0:56
  Speaker 1: What happens if that happens?
• 0:57
  Speaker 1: What happens if they say this, if they do that, if I feel like this, if they feel like that?
• 1:02
  Speaker 1: And a lot of the times these are just tricks.
• 1:05
  Speaker 1: Our mind plays with us, our mind plays on us all of the time.
• 1:11
  Speaker 1: You see, there's far too many of us.
• 1:13
  Speaker 1: You see, far too many of us spend a big chunk of our time wondering if things will happen, if certain events will happen, where you see the successful people, other people that actually just get out there and take action, and if those things happen, we deal with them.
• 1:33
  Speaker 1: Okay, if they make us feel uncomfortable, we deal with them.
• 1:37
  Speaker 1: Most things in life that make you feel uncomfortable at the very, very beginning you get used to Okay.
• 1:44
  Speaker 1: So it's like talking to new people, putting yourself out there where you can actually get ridiculed or somebody can take the mickey out of you or something like that, because you're having a go.
• 1:54
  Speaker 1: You've got to overcome these.
• 1:56
  Speaker 1: You know, if you're looking at starting a rent-to-rent business or you're looking at starting a new relationship, buying a better house, trying to build a better lifestyle for your stuff, all these goals are accomplished exactly the same way.
• 2:09
  Speaker 1: Let me just say that again.
• 2:11
  Speaker 1: All of those goals are accomplished exactly the same way and it really is just about putting one foot in front of the other and doing the things that need to be done in the right manner at the right time and putting yourself out there.
• 2:27
  Speaker 1: Rather than thinking to yourself what happens if this goes wrong?
• 2:31
  Speaker 1: What happens if this goes badly?
• 2:34
  Speaker 1: Think to yourself what happens if this goes right?
• 2:38
  Speaker 1: By putting yourself out there, you will start to find that you have better results, or, in a lot of people's cases, you actually just start getting results.
• 2:50
  Speaker 1: Sometimes, when you're talking to an agent or a landlord for the first time trying to take on a property, we are so, so caught up, or we built this up in our minds so much that we make ourselves really nervous that we're not actually genuinely being ourselves, being our true potential, because we've given this such a high level.
• 3:13
  Speaker 1: Sometimes we do the same when we meet certain people.
• 3:16
  Speaker 1: There may be people out there, famous people or people that you know of that.
• 3:20
  Speaker 1: When you get in front of them, you're completely not yourself.
• 3:23
  Speaker 1: You don't talk like you normally talk, you hardly say anything.
• 3:26
  Speaker 1: You feel nervous.
• 3:27
  Speaker 1: Why?
• 3:27
  Speaker 1: Because you put this person on a bit of a pedestal.
• 3:30
  Speaker 1: Now, maybe that's right and maybe that's wrong, but try not to do that in your property investing business.
• 3:36
  Speaker 1: Why?
• 3:36
  Speaker 1: Because it doesn't need to be like that.
• 3:38
  Speaker 1: Instead of paralyzing yourself from reaching the goals that you need to be doing or taking the actions that you need to be doing, you need to just look at it as one step at a time.
• 3:50
  Speaker 1: Just don't make a massive big deal out of it all.
• 3:54
  Speaker 1: One step at a time, one day at a time, will create massive results.
• 4:00
  Speaker 1: We've all heard the saying take massive action Woo-hoo.
• 4:03
  Speaker 1: I don't even know what massive action is At the end of the day, just take some action, day-to-day consistent action.
• 4:10
  Speaker 1: I always say to everybody set massive goals for yourself, set really big goals, as Grant Cardone himself said, set 10x goals.
• 4:18
  Speaker 1: I believe in that, I believe massively in that.
• 4:21
  Speaker 1: But set day-to-day targets and goals that you can achieve and that you can hit each and every day.
• 4:29
  Speaker 1: And if it just means calling one agent, calling one landlord, doing one view in a week, if that's all you can fit in in your busy schedule and do try and do more.
• 4:38
  Speaker 1: Do try and stretch yourself ever so slightly, but make sure they're achievable goals.
• 4:44
  Speaker 1: They are achievable targets.
• 4:46
  Speaker 1: Why?
• 4:46
  Speaker 1: Because you'll start to build up a mental toughness that will help you with your property investing, that will help you move out there.
• 4:53
  Speaker 1: You can go out and try and take massive action and if you do that in one hit in one week, and then you say whatever it is you were doing, it doesn't work.
• 5:01
  Speaker 1: I've tried it for a week.
• 5:03
  Speaker 1: That is not the way that you get results and that is not the way that you build anything either.
• 5:07
  Speaker 1: You have to do it week on week, day after day, week on week, month on month, until you start getting traction and until you start getting the results that you want.
• 5:16
  Speaker 1: And if you do this, you will get the results that you want.
• 5:20
  Speaker 1: You will be able to do those deals, you will be able to replace that wage, you will be able to get yourself out of that job and you will be able to build the life that you desire, but one step at a time.
• 5:32
  Speaker 1: And then we have to stop overthinking things, overanalyzing things and overcomplicating things.
• 5:38
  Speaker 1: Now don't make the mistake that I'm saying you do not do your due diligence on things.
• 5:43
  Speaker 1: Of course you do.
• 5:44
  Speaker 1: You have to do your homework on things.
• 5:46
  Speaker 1: You have to know that you're doing good deals.
• 5:48
  Speaker 1: Don't just blindly say, well, I'm going to do this deal now.
• 5:51
  Speaker 1: I had due diligence and everything Didn't really say that it was a good deal, but I'm going to do it anyway, because I've watched a video on Marxist I've got to take action.
• 5:57
  Speaker 1: If I don't take action, I'll never do it Sensible.
• 6:00
  Speaker 1: We've got to be sensible when it comes to these things.
• 6:03
  Speaker 1: But if you're actually at a point now where you are negotiating a deal, then fair play to you, because you've got yourself into that position by taking action, by doing the things consistently and persistently, as I always say.
• 6:14
  Speaker 1: What I'm talking to is a lot of people who I maybe haven't even got started yet, because they're thinking to themselves I need to save up a load of money to actually go out there and find a good deal.
• 6:24
  Speaker 1: Nobody's going to believe in me because I'm new to this.
• 6:27
  Speaker 1: It's all of those sort of things that we can say in our own minds that hold us back, that stop us from fulfilling our true potential.
• 6:35
  Speaker 1: The power of putting one foot in front of the other on a day-to-day basis is huge.
• 6:42
  Speaker 1: The compound effect now.
• 6:43
  Speaker 1: That's a great book as well.
• 6:44
  Speaker 1: If you haven't read the compound effect, I do recommend that you read it.
• 6:47
  Speaker 1: But the compound effect is massive.
• 6:49
  Speaker 1: A lot of the times, short-term pain for a long-term gain is really what works in this world and in this life.
• 6:57
  Speaker 1: When I started out, I sat my family down and I said over the next 12 months, I'm going to build this property business that's going to completely change our lives.
• 7:06
  Speaker 1: It's going to give us and we're actually going to make more money than we ever dreamed of, okay, than we could have in a corporate job, okay.
• 7:14
  Speaker 1: And it's going to give us time, freedom and a lifestyle that we want.
• 7:17
  Speaker 1: But I have to sacrifice probably some of my time definitely getting out there, probably going to be a bit stressed, okay, and a bit worried about things as well, but I just need you guys to be on the same page as me.
• 7:31
  Speaker 1: Why?
• 7:31
  Speaker 1: Because this was my closest family.
• 7:33
  Speaker 1: This was my two sons and my wife.
• 7:34
  Speaker 1: I needed to get them in line with me.
• 7:37
  Speaker 1: It's very difficult if they're not.
• 7:39
  Speaker 1: Now, my wife has nothing to do with property.
• 7:41
  Speaker 1: She's not interested in property.
• 7:42
  Speaker 1: She's quite happy to just let me go out there and do my thing, which is great Because it just means that when we're sat down together, I don't have to talk about property, she's not gonna talk about it, and I can actually switch off from everything, which is quite good for me.
• 7:55
  Speaker 1: But I had to get them on board.
• 7:58
  Speaker 1: You can't always do that, but by getting them on board I made them understand that we were gonna do short term pain for a long term gain.
• 8:05
  Speaker 1: And boy have we ever.
• 8:08
  Speaker 1: I worked my socks off for that year.
• 8:09
  Speaker 1: I didn't overcomplicate things.
• 8:11
  Speaker 1: I like to keep things stupid simple.
• 8:13
  Speaker 1: Okay, it's very easy to overcomplicate things In my mind.
• 8:17
  Speaker 1: I'm always trying to overcomplicate things.
• 8:19
  Speaker 1: I'm always trying to second guess what people are gonna say Try and think about that conversation before I have that conversation.
• 8:25
  Speaker 1: Turn out for that viewing.
• 8:26
  Speaker 1: I want every eventuality.
• 8:27
  Speaker 1: I don't wanna be hit with any questions that I can't answer.
• 8:30
  Speaker 1: You're never gonna do it, so don't worry about it.
• 8:33
  Speaker 1: Just go and do the best job that you can do and be yourself.
• 8:37
  Speaker 1: And if somebody asks you a question that you do not know the answer to, do not make it up, do not lie.
• 8:43
  Speaker 1: Just say that is a really good question.
• 8:45
  Speaker 1: I don't have the answer for you for that question Right here right now, but as soon as I get back to the office or wherever you're going, I'll find out the answer for that.
• 8:55
  Speaker 1: And if you've got a community of like-minded people or you're on a training course and you can ask the coach or mentor or anything like my guides do with me, they get straight in the group, they ask that question, they tag me into it so it comes through to me and within a few hours I'll have given them the answer.
• 9:10
  Speaker 1: Then they can go straight back to whoever it was they were talking to.
• 9:13
  Speaker 1: With the answer they look professional.
• 9:15
  Speaker 1: Why?
• 9:16
  Speaker 1: Because they didn't make things up and potentially get caught out.
• 9:18
  Speaker 1: And two, because they got back to them with the right answer, and that's one of the things that it's all about.
• 9:25
  Speaker 1: You need to make sure that you do your due diligence on things, but you need to make sure that you're not over-complicating things and holding yourself back.
• 9:33
  Speaker 1: If you need any help with this, as I always say, check out thepropertyunleashedcom.
• 9:36
  Speaker 1: We have free tools and resources.
• 9:38
  Speaker 1: If you go onto the website, scroll down a bit just under where the podcast is.
• 9:42
  Speaker 1: We have a podcast on all good podcast platforms Property Unleashed you can click on the free resources.
• 9:48
  Speaker 1: Go in there.
• 9:49
  Speaker 1: We have eBooks on deal sourcing, rent to rent, service accommodation, hmos.
• 9:53
  Speaker 1: We have master classes as well.
• 9:54
  Speaker 1: Gonna help yourself to those anyway, but that's on thepropertyunleashedcom, okay, so the biggest goals that you want to achieve are only gonna be achievable by taking compounded action, by small steps each and every day to get you there.
• 10:11
  Speaker 1: We all want instant gratification.
• 10:13
  Speaker 1: We all want it now.
• 10:14
  Speaker 1: It will take time.
• 10:16
  Speaker 1: Now sometimes you can get out there and you can get really quick wins Brilliant, make sure you celebrate those.
• 10:21
  Speaker 1: Okay, it's very easy to just get a few wins, think this is the norm, and then all of a sudden it's very quiet.
• 10:27
  Speaker 1: It's very difficult Trying to get deals over the line can be hard, okay, but make sure that you never underestimate, okay, the power as I said before, of just putting one foot in front of the other.
• 10:38
  Speaker 1: One step quickly becomes two, three, four, five, six.
• 10:41
  Speaker 1: And as long as they have the right steps in the right manner, okay.
• 10:46
  Speaker 1: And you can follow books, you can follow training, you can do whatever you want.
• 10:49
  Speaker 1: I'm not gonna say anything about that here.
• 10:50
  Speaker 1: We offer it.
• 10:51
  Speaker 1: But if you notice steps, then just keep taking those steps and before you know it, you will have found the deals, you will have got the results that you're looking to achieve and you're looking to get.
• 11:03
  Speaker 1: That is what it's all about.
• 11:05
  Speaker 1: Stop over-complicating things, stop holding yourself back, because once you've taken 100, maybe 200, maybe 500, maybe a thousand steps in the right direction, you will be so, so close to your goal, a lot closer than you are currently now.
• 11:23
  Speaker 1: If you're watching this and you're just looking at getting started, that is all it is.
• 11:27
  Speaker 1: Being consistent and persistent, with the right steps in the right manner is what gets you results.
• 11:34
  Speaker 1: Okay, this is the only way anybody has ever successfully built anything.
• 11:42
  Speaker 1: This is not rocket science.
• 11:44
  Speaker 1: This is not something I've found myself.
• 11:46
  Speaker 1: This is just something I've learned, and so have thousands of other entrepreneurs, property investors, business people everybody starts by just doing one thing and kick by just doing one thing consistently and persistently and going forward and not over-complicating it.
• 12:07
  Speaker 1: Okay, really, take my word for it.
• 12:10
  Speaker 1: We will have doubts, we will have fears, we will have worries, and that is all okay.
• 12:18
  Speaker 1: That is all part and parcel of it.
• 12:20
  Speaker 1: As I say, surround yourself with like-minded people so that when you have those moments, you can talk to them about it and if they're all on the same page as you, they'll say I had that and I might be a couple of steps further.
• 12:32
  Speaker 1: Maybe I've got the deal, maybe you're trying to find the deal.
• 12:34
  Speaker 1: I've got the deals.
• 12:36
  Speaker 1: We've done that.
• 12:37
  Speaker 1: I felt exactly the same.
• 12:39
  Speaker 1: Do you know what I pushed through it?
• 12:40
  Speaker 1: Oh, I've got the results I want.
• 12:42
  Speaker 1: Most people will start something and within three months 90 days potentially will have quit, will have thought it doesn't work, I need to go and do something else, I need to try something else.
• 12:53
  Speaker 1: It doesn't work in my area.
• 12:54
  Speaker 1: It doesn't work for me, it's not right for me.
• 12:56
  Speaker 1: It's the people that last longer than 90 days.
• 13:00
  Speaker 1: It's the people that take the action and the one steps in front of each other that get the results.
• 13:05
  Speaker 1: You want to be that person, so be ready for it.
• 13:09
  Speaker 1: Have the mental toughness to know that this is a marathon, it's not a sprint.
• 13:15
  Speaker 1: It's all about pushing yourself out there.
• 13:17
  Speaker 1: It's all about making sure that you're consistent and persistent with the right actions, moving yourself forward.
• 13:21
  Speaker 1: Stop overcomplicating things and when you do find that you're overcomplicating things, just talk to people about it.
• 13:27
  Speaker 1: I hope this episode helped you.
• 13:29
  Speaker 1: As always, check out thepropertyonleashcom.
• 13:31
  Speaker 1: Feel free to reach out to me if you need any help with rent to rents, service accommodation, any property strategies.
• 13:38
  Speaker 1: Actually, we are always happy to be here and help and support everybody to make sure that they're getting out there and creating the lives that they desire.
• 13:47
  Speaker 1: So I look forward to you joining me in the next episode.
• 13:50
  Speaker 1: Bye for now.
• 13:51
  Speaker 1: Music.