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I mentioned in a previous article how I started investing in property. Like you I knew it was a good idea. I then got an opportunity to learn more .... In fact, I learnt too much .... I became confused which strategy, what area .... recognise that feeling? Luckily, because I taught business strategy at university and worked with small businesses helping them to grow their turnover I understood what was missing. We needed a plan. I organised a meeting. As a family we sat around the table and discussed what we wanted to invest in property for .... what was our why?
We knew there would be a specific model that would be fit for our purpose. Much like buying the right vehicle, screw driver or pair of shoes. You would not wear stilettos on a running machine or put a screw in the wall with a hammer (although there will be one person reading this who has tried.) We costed the lifestyles we wanted and from that information evaluated which investment techniques would best suit our available resources. Which investment technique (pair of shoes) was the most practical, feasible, suitable and fit for purpose ....
Then I headed to Liverpool. In 2008 the return on investment was high, the purchase price affordable and the client group plentiful. We established local experts to work with us and started buying ... Then of course, the real challenges came but more about them later. The point was we had a model. A structure. A plan. The biggest challenge we faced was the difference between what we had been taught and the reality of investing. The theory was so simple the reality proved so different.
I wished that I could practise buying to make sure I was doing it right. I created a spreadsheet and spent weeks analysing deals by the time I had the courage to put in an offer the best properties had been sold of course. This went on for months. The more houses I saw the more I realised that buying property wasn’t that easy .... Investing in the right property, at the right price, to deliver income based on our investment and business model, was considerably harder than my property trainers had led me to believe.
I had to change my mind set, my head space, I had to stop fearing the deals, I needed more experience and that is what I set about finding. I knew from my educational background about learning styles and structuring a learning experience to create deep and meaningful understanding of a subject. Now I run a unique workshops that takes my students from the theory of property investment to a position of practical and personal application.
Wusche Limited: If you are interested in property investment and want to know if its right for you – then visit our stand 9164 at the Business Show to meet the time and register for one of our free events.