My Property Investors Network (pin) Talk For Simon Zutshi On How To Invest In Property… The Basics
Articles,  Blog

My Property Investors Network (pin) Talk For Simon Zutshi On How To Invest In Property… The Basics

In today’s video, I want to share with you
the first part of a talk that I do on the circuit that I’ve entitled Your Six Fundamentals.
We’re going to be talking about some basic stuff that I think you need to put in place
before you buy your first few investment properties. Hi there. My name’s Tony Law from Your First
Four Houses, and my channel’s all about helping you achieve financial freedom through property.
If this is your first time here, be sure to subscribe to the channel and also hit the
bell notification icon so that you don’t miss out on anything. This was recorded live at
the Brighton team meeting, hosted by the wonderful Peter Fannon. Let’s just crack straight into
it, and I want to share with you the first part of my talk, which is all about basics. Thank you, mate. Good evening, everybody. Good evening. It’s wonderful to be here. What was that?
Did somebody just die? I’ve heard that before. It’s a genuine pleasure to be here. I want
to share some stuff with you tonight. I’ve got nothing to sell, no angle. I just come
along because I think Peter’s pretty great. He runs a great meeting, and I just wanted
to give you a load of stuff tonight that I hope you’ll find helpful. Let’s just crack into this. First of all,
let’s kick off with the obligatory background on me. Has anybody actually seen me speak
before? Has anybody had the fortune to actually see me speak before? You poor souls. A bit
of background on me. Basically, I owned a kitchen company down in Bournemouth for 23
years. It was a pretty successful company. I had six guys working for me full-time. The
sad bit of that is that, sadly, I lost somebody who was actually one of my fitters. He was
a fitter for 20 years, and that stopped me in my tracks. It made me reassess what was
important in life. I realised that if I didn’t actually make some changes, I was going to
be going out and seeing Mr. and Mr. Jones who changed the choice on their door colour
for the seventh time at 10:00 at night forever, and I didn’t want that. That’s not fun, really.
So I decided to put some real changes in place. I’ve actually been investing in property for
15 years but seriously as my full-time income for the past six years. I’m also now a business
coach and mentor, which I really enjoy. I’m also the founder of Your First Four Houses,
as Peter alluded to earlier on. This is where I get to find out if anybody is aware of some
of the stuff that I’ve put out. Has anybody seen any of the video content I put out there?
I’m not talking about the porn. I’m talking about the other stuff, although that is available
on subscription. There’s a few people. Just raise your hands a bit higher. Has anybody
seen? Okay. We’ve got a few people. That’s brilliant. I don’t make anything out of this. I just
want to share stuff that I think people will find helpful. I’m still talking about property-related
videos here. Some of the stuff that I’ve got in here I think is really helpful to people
that just are starting out. I actively encourage you to just go and check out some of this
stuff. In particular, this one here is the one that I always recommend people watch.
In this, I’ve actually got a list of every single property-related website, tour, app
that you’ll need on your property investing journey. There are people that charge hundreds
of pounds for this, but if you just go to, you can just
download it there if you want to grab that. It’s pretty much everything that you’ll need.
I’m going to give you a little bit of a handout in a minute. You’ve got that on there if you
want to take a note of that. It’s already on the sheet for you. Why do I call it Your First Four Houses, which
is a little bit controversial? I personally believe that most people only need four of
the right type of properties in order to become financially free. Now, don’t get me wrong.
I know lots of people with lots of properties. Peter has got 2-300 properties now, haven’t
you Peter? I know lots of people with hundreds and hundreds of properties, but the truth
is, I personally … This is just my little thing. I personally don’t think to lead a
really good lifestyle, you need more than four properties. This is an example of one of mine. This is
just … It’s an eight by eight HMO, so it’s a bigger HMO, but you know what? Anyone in
this room could have put that together. It’s not that challenging to do it. This particular
one actually nets me after all costs, voids, mortgage payments, and everything 34 grand
a year. Well, I would make the observation that you don’t really need many of those in
order to become financially free. Don’t get me wrong. Four, five, six bedroom HMOs, they’re
not going to make as much. I get that. If you get four of the right type of properties,
how many of those do you really need to live quite a nice lifestyle? I’ve got quite a few
properties, I guess, but four of the right type. I know I’m laboring the point, but four
of the right type, I think, is really what most people need. What are the six fundamentals? These are the
six fundamentals I think everybody should have a reasonably good knowledge of in order
to be successful in this property investing world of ours. Basics, business, sellers,
stacking, funding, and exit. The little tips and tricks I’m going to be sharing are going
to be grouped within these little categories, if that’s okay. Let’s kick things off by going
back to basics. I want to share something with you that I
find really fascinating. I find this really fascinating, and I’ve talked to lots of other
people who are in property training circles, and it’s this. If you go to any property training
event or you sit in a room like this, and there are about 60, 70 people in this room,
the truth is there’s always going to be a small percentage of people that fly. A small
percentage of people that absolutely do extraordinary things in property. I’m fortunate to know
quite a few of them. There’s a few people in this room, and I’m not going to catch any
of their eyes. There’s a few people in a group that will absolutely fly. It’s got nothing
to do with money. Everybody that I’m talking about has a really, really powerful reason
why. Something that drives them. I know this is a bit kind of woo woo or whatever.
I know that people want to get on with the property content. I’ve got a lot of that to
share, but this reason why is so fundamentally important, and it’s the kind of thing that’s
going to make you make that phone call, go and see those estate agents. If you haven’t
got it, you will struggle to keep that motivation going, especially in the world that we’re
currently living in, which is, let’s be honest, we’re being attacked from all sides, or at
least that’s how it feels to me. I want to give you some actionable stuff.
This is the first thing I’d like to share with you. Has anybody ever put together a
vision board? Anybody in the room? Wow, there’s a few people who have. That’s brilliant. If
you’ve not done this … We’re starting with basics … I’d really encourage you to do
it. I’m a nuts and bolts kind of guy. I started as a kitchen fitter, fitted a thousand kitchens.
This kind of stuff doesn’t really work with me, but I put this together, and it really
made a big difference to me. What you’re going to want to do is you’re
going to want to collect together a number of images that represent the kind of things
that you’re wanting to move towards, stuff that really motivates you, but equally, you’re
going to want to put together a number of images of stuff that you’re actually wanting
to get away from. The first time I did this talk, I brought along my vision board, and
that’s the one and only time I’ve done it, because I felt really awkward about sharing
some of the stuff that was on this vision board. It was really personal stuff. I don’t
do that anymore. That’s how personal your vision board needs to be for you. Yeah, that’s
right. You should actively do this. I would encourage
you. Here’s your first thing that I’d like you to fill in in your little piece of paper.
That is would you benefit from using a vision board? Now, if the answer to that is no, that’s
absolutely fine. Absolutely fine. The answer to it is yes. Put a tick on there. No one’s
going to see it apart from you, but I actively encourage you to check this out. I feel everybody needs a target to hit, something
specific to aim for. Has anybody seen these kinds of things? You’d often find them outside
churches when they’re trying to raise funds. Have you seen these kinds of things? Yes. They’re trying to raise an amount of money.
They put one of these up, and as they actually raise funds, they start to add. You can get
the idea from it, can’t you? My question to you is what’s your target? I personally think
we should all work out how much money we spend every single month. Every single month, work
it out. Sit down, work out what do you spend every single month? Then, although I’m largely
paperless … My office is paperless … I recommend everybody draws up a manual one
of these things. At the top of it, you’re going to put the target. The amount of money
that you spend every single month is going to go right at the top of that. Running up
the side, you’re going to have integers that say 500 pounds, for example, going up to your
target. Every single time you do a deal that puts
an amount of regular income in your back pocket, you go and colour that thing in. If you put
it prominently on your fridge or your office wall, something like that, it’s a real motivator.
Your wife, who wants currently an Audi TT, is currently wanting to know why that thing
isn’t bloody well moving up. I encourage everybody to do this. My question to you is do you know
what your monthly target is? If you don’t know what your monthly target is, can I encourage
you to work out what it is. Then can I encourage you to actually start working towards actually
building up your thermometer, or whatever it is called. The next thing is … We’re still talking
about basics here … you need to build up your spendable cash. The truth is, we often
forget that there’s actually two parts to this equation. Actually having cash in your
back pocket, money that you can use to invest in property, invest in deals, or simply have
to go on a nice holiday and so on. We went to Venice a couple of weeks ago, because we
have a surplus of cash. This is what you’re able to do. People often forget, there’s actually
two parts to this equation. We’ve got the money coming in minus the money that’s going
out, and it’s actually that that gives you your spendable cash. Now, we focus all of our time, effort, and
energy on this bit, don’t we? On putting money in our pocket. What we rarely do is to actually
assess the amount of money that’s leaking out of our accounts. Ultimately, it’s that
that gives us that surplus of cash, that surplus of spendable, investible cash. I often use
the analogy it’s a little bit like a bucket with holes in it. You can put as much stuff
in the top as you want, but if you’ve got a whole lot of holes leaking at the bottom,
your money is just going to disappear, especially if you’ve got three kids and a dog, like I’ve
got. Again, this is about giving you actionable
stuff that you can use, take away with you, so I suggest people do this. Go and get your
bank statement. Sit down with a nice glass of wine, coffee, beer, whatever is your fancy,
and go down your bank statement one line at a time. When you come across an entry that
you’re slightly unsure about, what is that doing on there? What is that amount of money?
Just put a line through that one entry. Continue going down that bank statement, and
every single time you come to an entry that you’re slightly unsure about, you’re slightly
uncomfortable, why am I paying? Who’s the Virgin Rep in the room? There we go� Virgin’s
a great example. You buggers can charge too much, but there
are people like you, that if you have a conversation with somebody like that, you can save you
money every single month. You have to take the time to dig out all my little Virgin payments
and go and speak to somebody. You’ve got to make the time to actually do it. I do this every single year. The first time
I did it, it was scary how much money I saved. It was scary how much money I stopped leaking
out of my account. I did it in January, and okay. It saved me … It only saved me 142
pound per month, but it did save me that every single month forever. My question to you is
could you plug some gaps in your finances? We’re going to get on to property stuff in
a minute. This is all about the basics, but I think we sometimes forget the basics are
really important in order to be successful. This is about having money in your back pocket,
isn’t it? There you go. I hope you found that one helpful.
Thanks for watching to the very end. Don’t forget, be sure to subscribe to this channel,
and that way, I can let you know when the next video is available to you. I’ve also
got a couple of others here that you may well find helpful. My name is Tony Law from Your
First Four Houses, and I look forward to seeing you in the next one.


Leave a Reply

Your email address will not be published. Required fields are marked *