If you’re thinking of getting into property, start property networking ASAP. It’s the first bit of advice I would offer. And probably the most important.
See below for a brief history of my property journey:
- 1st property purchased 19 years ago as a very optimistic 19-year-old
- After 16 years, I had 3 properties and was a very average landlord
- After 18 years, I had 5 properties but progress was slow
- After 19 years, I have 7 properties and things are improving due to my network
DUFF PROPERTIES and networking
Whether you are about to start investing or been investing a while, your network is massively important.
This took me 18 years as a landlord to realise. It’s key to get around other investors if you want to be successful. They can motivate you and inspire you to be better and do more. And to realise what’s possible in the property game.
There are many training companies that offer networking and property training. A few didn’t suit me because of their aggressive sales pitch. Be aware! It is easy to get sucked in as they play on your emotions.
If you do go to a free property event, stand guard. Don’t go there with your bank card and sign up for the expensive training without giving it serious thought.
With trial and error, I stumbled across Simon Zutshi and his excellent training company PIN (Property Investors Network). The PIN meetings and training have helped me. They have helped me transition from average landlord to property investor.
My little property journey will show you how not to do property investing. If you’re not careful, being a landlord or investor can be difficult. Look at some of the lessons learned within DUFFMONEY.
Getting around other investors will help you to improve. These professional investors will have a positive influence on your life.
Just look at my old tenancy agreements. Initially bought as a 19-year-old from WHSmiths. I’m almost sure they were legal. But let’s just say not very professional.
After attending PIN meetings (PIN) I started to get my act together. Like joining the NRLA (National Residential Landlords Association). For £70, it is well worth it. They offer advice, resources, services, training and more.
They will give you all the resources to become legally compliant. Like a recently updated AST (Assured Shorthold Tenancy) that can be downloaded. That I have downloaded and now use for my single lets.
Then there is software to help you manage your property portfolio. There are many to choose from but I have started to use Landlord Vision.
See below for some of the features:
- Property manager
- Finance manager
- Tenant manager
- Account manager
- Early warnings
- Document manager
Basically, everything you need to be an efficient landlord and property investor. Like the fact that you can upload all of your documents and get an email reminder x amount of days before they are due for renewal. This helps me with my tenancy agreements and gas certificates for example. 5 days before they are due, I get an email reminder and then I can get the documents renewed.
It’s these small improvements that are finally moving me away from being an average landlord.
What to do
Get around other investors. Let them rub off on you so that you can become a successful property investors.
Test a few different training companies out and see what suits you best. Add property investors on social networks like FB or LKD.
Put yourself out there and post on social media. This is advised on training I have done with PIN. This is massively out of my comfort zone. But I have learned to get comfortable at being uncomfortable and am now posting everyday.
Putting myself out there on social media has started up a lot of property conversations. I’ve even started to build lasting relationships with other investors. This can be helpful for accountability. I am talking to a few other investors regularly and it gives me the kick up the ass I need.
Good luck with your networking and you’re investing and if DUFFMONEY can help, you know where we are.
Book of the week: The Introverts Edge to Networking, by Mathew Pollard. Overcome fear and discomfort when networking with this excellent book. Among other benefits, it will also help you to target and connect with top influencers.
For a hard copy visit the excellent Imagined Things Bookshop: https://imaginedthings.co.uk/