10 Common Property Investment Mistakes New Investors Make In Today's Buy To Let UK Property Market



today let me share with you ten big mistakes that I think lots of new property investors are making hi my name's Tony though from your first four houses and my channels all about helping you achieve financial freedom food property if this is your first time here be sure to subscribe to the channel and click the bell notification icon so you don't miss out on any of the free content that I give you each and every week so in preparing for this video I had a list of about was nearly 50 different mistakes I think new property investors tend to make when they're just starting out but I'm not gonna put you through that list I've trimmed it all the way down to just ten big mistakes that I think new property investors tend to make so let's get started the first one is not knowing your investment objectives before you start investing are you looking for cash flow today are you looking for long-term capital growth are you looking for a mixture of both you need to decide what your investment objectives are before buying investment property number one and you then look for properties that align with that investment objective next one waiting for the perfect property to come along I am so guilty of this that's what I started to do when I first started out I had a bit of money to invest and I was looking for something that was a perfect deal and I found something that was really quite good but he wasn't perfect so I didn't do the deal I let it go six months and went by without me finding anything that compared with that so don't make my mistake don't wait for that perfect deal to come along because you might be waiting for some time a lot of similar vein but on the other side is don't become a motivated buyer and buy this what I mean is sometimes people have a lump of money in the bank they've realized that property investing is where they need to be and they become a motivated buyer they're there looking to buy anything frankly that's what not what you should be doing having the money in the bank is wonderful it gives you an opportunity to go out there and take lots of action and find a really good property maybe not that perfect property is we would just talk about but find a really good property then do the deal don't think that you've got to spend that money today next one letting emotions overrule Investment logic you're never going to live well hopefully not you're never going to live in this rental property so I think that what you should be doing is using investment logic to decide whether you should buy that particular property what do the numbers look look like is the big thing of course but also look for other factors as well and I've done videos on this kind of thing by for investment logical reasons rather than emotion next one doing insufficient due diligence now I personally think I can now research any property in the UK in about 15 to 20 minutes but it's taken me quite a long time so to be able to do it in that shorter amount of time what you should be doing initially is doing loads of due diligence bit of a tongue twister about due diligence maybe taking a few hours to really research that first or second property before jumping in and putting your money on the line here so you've got to get good at doing that and then only in time can you start to refine down how long it actually takes you next one not getting appropriate financial advice now again I've talked about this before you should have a a competent tax advisor on your power team something you can phone up and he'll give you advice on how you should be buying that property you need to have a a competent independent mortgage broker that you can that you should be speaking to and he'll give you advice that's appropriate for your set of circumstances and last but perhaps most important you should have an accountant go and sit down spend the money that it's required and get his financial advice and then and only then should you be taking action next one paying too much now it's ever so easy to find a property there's on Rightmove it's already on the market it meets pretty much all of your needs and you go in either close to or on the actual what they're asking for the property but you know what just because they're selling their advertising it for that that doesn't mean that's what you should actually be paying for it work out what the deal is actually worth for you based on your experience and I appreciate it takes time to build up that experience that's what you should be paying and no more if it doesn't work for the seller that's ok put it in some kind of a follow up system and if they haven't sold in three six months time or even four to six weeks time then you go back to them you say how you doing are you interested now can we do something with this property now don't pay too much for that next deal next one under estimating refurbishment costs now Wow a vice paid too much for the refurbishment of properties over the years now I I kind of think I've got a pretty good handle on what the costs should be and when you do property number one or two let's be honest you're probably going to overpay for some of the refurbishment costs but note down all of the costs all of your expenses in property number one and two and three and each time you do that next property you can go back over those costs and say well actually what did it cost me to build that acoustic wall what did that ensuite bathroom actually cost me let me look back at my figures next one keeping up to date with rent Rises now know that's a bit of an odd one but when you start to build a bit of a portfolio and you've got a few properties and maybe you've had them for a few years what you'll realize is that sometimes tens keep very very quiet because they know they're paying less than the market rent they don't want to bother you they might not want to bother you because there's simply lovely people that's absolutely wonderful but sometimes tenants look at the market rent around them and they were aware that actually they're under paying slightly so they keep very very quiet what I now do every single year is I look at my properties on a specific day and I go and look for comparables out there if I was renting this property today what would I actually be renting it for and by that I mean I don't automatically put the rent up I look at comparables and if it is actually slightly below where it should be then I'm gonna be speaking to that tenant now and sadly unfortunately the price is going to actually be and lastly investing for the long-term I personally think lots of people are making short-term decisions when they're building their property portfolio where I where I now come from is I think I look at a property and I think to myself do I actually want to keep that property forever and the art if the answer is yes then that's a really big tick in my book and then I will probably be buying that property I hope you found that helpful for more tips and tricks like this be sure to subscribe to my channel but also make sure that you take away this 50 point checklist which feels it will really help you the next time you want to buy my name is tony law from your first four houses and i look forward to seeing you

Mortgages & The Power Of Leverage Explained | Property Investment | Real Estate Investing Tips



Leverage is very powerful in the world of
property investing, and understanding leverage is the topic of this video. Hi, I’m Andy Walker from monoperty.com where
I blog online about my journey as a property investor and landlord, sharing what works
for me, and what doesn’t, to help you start or expand your property portfolio. Leverage is about borrowing money and it’s
used to maximise your buying power and level of returns you can get back and the most common
method is by using a buy to let mortgage. So let me explain the benefits by using 2
examples with some simple pictures, the first one will be using without leverage and the
second will use with leverage. I’m going to keep the numbers and the details
simple so lets assume the buying price of the properties includes the buying costs and
lets say we have 100,000 to invest So you buy 1 property with cash. Brilliant.
Your over heads are going to be minimal which means you will be able to keep the majority
of the rental income that it produces. Overtime the property will appreciate in value, inline
with inflation, and lets say in 5 years time, because we always invest for the long term,
this property is now worth 125,000. You will have then have received a quarter of your
initial cash back on paper, with very little risk, whilst still enjoying a regular passive
income and cashflow from rent. Now in the second example lets look at using
your 100,000 as a deposit to buy 4 properties. You split your cash into 4 deposits of 25,000
and you buy 4 properties for 100,000 each meaning that you’ll have a mortgage of 75,000
on each of those properties. In total, you will have still invested 100,000 but now you’ll
also have 300,000 in mortgages. Your overheads are obviously going to be more expensive now
because you have got mortgages to service and your profit on each property is going
to be less compared to example 1. But because you now have four properties,
and providing you’ve done your homework and due diligence correctly, the total net
income of these four properties can easily surpass the total net income of buying one
property with cash. Now lets look 5 years into the future as we did with example one.
You know have 4 properties worth 125,000 each. That means you have capital growth of 25,000
in each which gives you a total profit of 100,000! You will have doubled your initial
cash investment in 5 years. Amazing! And that, ladies and gentlemen is the power of leverage. Now you can leverage at different amounts
by only borrowing 60, 50% or less to buy fewer properties, or you could leverage higher at
80, 85% or more to buy more properties. I prefer to gear at 75% and that’s a topic
for another video. Now I know some people can be very nervous
about taking on huge amounts of debt, but you have to remember that this is good debt
because it’s providing you a return, you’re buying an asset, and professional investors
like debt. They use it to their advantage. It’s completely different to taking on consumer
debt which you would use to buy a new car or go on an expensive holiday or something
that doesn’t provide you with a regular return. This is how I think about it to give myself
some reassurance. Firstly, I know I’ve done my homework and due diligence and I’m looking
at buying a good property that’s in demand on the rental market that is going to be producing
a good positive cashflow, and secondly, the mortgage lender will only loan me their money
when they have done their own due diligence and they’re happy that the property I’m
looking at buying will make a good buy to let. If they don’t believe that the property
will generate an income for me and that I won’t be able to service the loan and pay
them back in the future, then they won’t lend me the money. I see it as like a safety
net. They’re double checking my checks. Of course there are no guarantees and I know
some people have made bad investments in the past and that they’ve had to sell their
properties at a loss, but in my experience, if you buy right, you will survive market
crashes because rents don’t decreased in times of a recession, so when property prices
fall, I have still been able to service my mortgage without any financial problems, and
as market conditions have improved, I have then been able to enjoy the capital growth. Leverage is a great wealth creation tool and
it’s something that I’d like you to consider, but ultimately it comes down to your own level
of comfort with risk. And I would like to add, that buying one property with cash, is
better than not buying property at all, in my opinion. If you are new to property investing and you
have any questions about leverage, or if you’re an experienced investor and have something
that you would like to add, then please leave a comment in the box below or head over to
monoperty.com/leverage. If this is your first time to the channel,
please subscribe so you don’t miss any of my future videos that are all geared towards
helping you start or improve your property business. Thank you for watching this video
to the end, my name is Andy Walker and I will see you in the next one. bye for now.

Investment Property UK – FAQs



investors who are new to investment property always have a ton of questions for us if you want to have some lifestyle support and passive income to your portfolio then here are the top eight questions that we get asked you announcer let's check it welcome to million chat work on the investment channel since you and your finance is free I Monday this is bad and if you like what we say hit the live person click subscribe and check out some of the offers in the description below let's get into it number one should I buy outright or use a mortgage use a mortgage for crying out loud this is hands-down the most crucial decision factor between whether your investment provides a life-changing return or a mediocre one if you buy outright you may need to spend at least a hundred thousand pounds to buy which is one property in the north of England whereas if you were used mortgages you could buy around four properties for the same money in terms of month-on-month profits you will have to pay some mortgage interest but your revenues will be four times higher amazing in most circumstances using a mortgage is the obvious thing to do the rest of the market is already doing it so it's factored into rental prices and who can really afford to spend over a hundred thousand pounds and just one earn a diversified asset number two do I need a special type of mortgage yes the best model in our opinion to buy investment property with is using an interest only buy to let mortgage this is in fact the default mortgage type offered by banks for buy-to-let property purchases we invest for cash flow and this is not achieved if we have to repay hundreds of pounds of equity each month under a capital repayment mortgage structure by being patient and holding the property for thirty or so years we expect the equity to build to a high enough amount to make the loan balance in negligible this is achieve and host values increase number three how much money do I need to be able to invest in some areas of the north a decent rental property can still be bought for around one hundred thousand pounds i buy to let mortgage will let you put down a deposit of no less than twenty five percent so vast 25,000 pounds of capital add to this stamp duty of three thousand pounds and legal fees and you're looking at around thirty thousand pounds for the average investment don't live in the north no problem you should be using a property agent the practice for you there's no need to live down the street from your rentals you could also go house with a friend up to two people can be listed on a mortgage date more friends can be involved if you buy through a company structure on this no buy through a company can open up the option of 20% deposits although this is not common at 5% saving potentially on your deposit number four do landlords spend all that time fixing toilets I have never fixed a toilet in my life and I don't intend to the only landlords who would are doing so because they're accidental one laws ie they've inherited a house or they abort property based on reasons other than the highest profit margin available they don't know what they are doing finance wise and so have to cook costs on maintenance no have a plumber fixture toilets and have your management agent arrange it for you you don't need to be taking calls in the night either number five should I set up a limited company to buy a property this is up to your preference and circumstances notes that limited company mortgages carry a higher interest rate than personal mortgages but limited companies are a way to protect your wallet from the taxman and you pay tax at the corporation tax rate currently 19 percent which is cheaper than paying income tax which you'd pay if it was owned in your own name but you'd also have to pay dividend tax when you take profits out of your company whichever method you choose don't plan to change your later date as you'll incur stamp duty and legal fees to do so make your choice now and stick with it number six what if interest rates go up if interest rates were to go up then your mortgage costs would also go up causing your profit to go down but the same would apply to all landlords across the country would they all continue to accept the hit to profits of course not they would all raise bed rents at the first opportunity out of necessity and so could you the Bank of England knows this and they know that by raising interest rates most of the additional cost will inevitably be passed on not to the landlord's but to the tenants so they were looking to raise interest rates significantly unless it is done over the long term to allow rents to rise gradually as always there is a risk that an investment will lose money and interest rates are one of the biggest risks for property investors only invest what you can afford to lose number seven do tenants have over power now in June 2019 a new law was passed the men that tenants no longer have to pay agent fees this cost will now be picked up between the agent and the landlord so factor this into your profitability calculations when you're assessing a newer investment it is the latest in a string of new laws that give tenants more rights what this really means is you need to be aware of the rules now more than ever an extra careful not to fall into any traps by accident a good management agent will hold your hands regarding the rules they'll make sure that new tenants have good credit history will chase up any late payments and even help with any evictions avoid taking on problem tenants in the first place by doing proper referencing I my tip to you make sure that you take out legal cover for evictions just to be extra safe number eight what are the scary new tax changes we always get asked about the tax changes to mortgage interest it's something that seems to strike fear into the hearts of wannabe investors but you may not need to worry about this one if you are a basic taxpayer the impact is negligible the main effect for basic rate taxpayers is but your taxable income is increased by the amount of a mortgage interest mean of it you could be pushed up into a higher tax bracket but this will only affect the extra marginal amount not your whole tax bill two solutions to this as a high rate tax payer is to either buy through the name of a spouse who is a basic rate taxpayer or to buy your properties through a company structure question of the day what other questions do you have about property investing let us know in the comment section thanks for watching on this channel we talk about personal finance investing and all things money and if you wanna see more great content please click the subscribe button below this is money on shackle calm the nx9

Buy to Let Investment Property in Ireland-Factors to Consider Before Investing



okay in this video I want to take a look
at vital s property investment in Ireland the landscape here has changed
significantly in the last 10 or 15 years 10 years ago 15 years ago the Irish
property market and the Irish lending market went bananas with the result that
people were buying buy-to-let properties residential in the main apartments for
vital s purposes and most people were doing it on the basis that were trying
to create some sort of a pension for themselves not a lot of people at the
time had pensions and not sure what the current situation is generation the
pensions but most people would have seen property it's a safe space as a nest egg
for the future as a hedge against inflation and there's a nice way to
acquire capital and keep a few Bob together and so on so back then 10-15
years ago it was easy enough to get financed for vital debts and you had
ordinary people in ordinary jobs building up these property portfolios
portfolios of apartments or three beds Emmys or whatever in the bite solid
markers then the whole thing came crashing down around about 2009 2010 and
clearly the banking landscape the financial landscape has changed
significantly the lending requirements and the lending guidelines and so forth
have changed dramatically as well it's not as easy to get money and it is far
more restrictive in terms of credit being advanced by the finance houses but
in any event there's still a beta debt markers it's still quite a good
investment depending on your circumstances depending on your capital
depending on what you're looking for but there's a couple of things that you will
need to know so the situation as I see it in 2019 is you get a loan for between
five and thirty years and you get a loan to value value advance of between 50 and
70 percent depending on the borrower and depending on the lending institution
this used to be the case or used to be a hundred percent 95 percent whatever and
the great thing about property situation back in the day and
which clearly was a factor in the downfall was that you could buy a
property putting down 5% or 10% of the most and this allowed people to leverage
whatever few above the had and before you knew it with her rising market and
property number one rising value soon people were refinancing
remortgaging buying property number two and the whole thing created a sort of a
ratchet effect with the result two people became massively over extenders
that landscape has changed situation has changed now in relation to finance and
as I say 50 to 70 percent is what you're looking at in terms of loan to value and
who will depend on where the property is have seen one Bank for example Ulster
Bank where I think they will advance up to seventy percent in the four major
cities in Ireland Dublin Galway Limerick and Cork boss they will only advance 50
percent outside of those four cities so that's something that you need to
consider another thing you need to consider is the taxation situation
you're gonna have rental income you are liable for that it's case five income
you're also gonna have write-off Stowe against the cost of buying the property
and maintaining it and so on you're going to have a write-off in terms of
the interest that you're paying the bank and various payments management company
fees repairs and maintenance and so on and so forth so consider the taxation
situation as well and get accounting advice advice from an accountant who
understands the situation another factor you need to consider is
the bank's legal costs you're buying an ordinary house to live in
it's a residential purchase it's for your sole occupation it's not a
residential or it's not a commercial property it's not a bite unless you only
have to pay your own legal fees however in a commercial purchase and investment
bite unless you will be expected to pay the bank's legal costs as well because
the bank will appoint a solicitor to act on their behalf and to ensure that the
property is the their mortgage is secured on the property and it's
registered with the property registration authority
and so on so they appointed their own solicitor so you want to have the
solicitor appointed by the bank you have to pay their fees you're gonna have the
solicitor appointed by you you're gonna have to pay his or her fees as well so
you're gonna have two sets of legal fees the gangue shop around some of the banks
give subsidy or an incentive or promotion where they pay a certain
percentage or a certain sum of legal fees so shop around have a look at that
the other situation you may be looking at would be an interest-only situation
where you pay interest only for a number of years that is a possibility but it's
not that common generally the more prudent financial and physical
atmosphere that prevails in early since the crash means that you would be
expected to pay back principal and interest but as to say shop around you
will get lenders who will give interest only but you need to be very very
careful because it's a little bit like you know taking cocaine or something
getting interest only if the property market Falls are all and you're only
paying interest no you're gonna be possibly in negative equity after three
four five years of just paying interest and you may be facing a difficulty then
so that's something to consider by-and-by our overall then in essence
the property market in Ireland is strong enough certainly the rental market is
very strong there's a huge demand another thing you need to factor in is
the whole question of the political and therefore nearly legal climbers arising
from the question of homelessness and the difficulty with people getting
accommodation so on the pendulum in terms of landlords rights versus tenants
rights appears have swung quite significantly towards tenants in the
last number of years and there's quite a lot of safeguards in the legal system
now for tenants the Residential Tenancies board is a body that you're
going to have to tangle with sooner or later and you do have to register your
property with that body but the difficulty of
tenants not performing in accordance with the letting agreement or damaged
your property or getting tenants out who are not paying and so on these are
difficult enough legal issues difficult enough problems because as I say the
pendulum has swung towards tenants to a great extent it's difficult to get a
tendency but when you do get it you're in the strong enough position from a
legal perspective and the landlord can only evict the tenant in very limited
circumstances so you need to factor that into your your decision to invest in a
bite or less in Ireland it may well work out fine if it might prove to be a good
investment it's entirely a matter for yourself I'm not giving you financial
advice I'm simply pointing out the pros and cons the huge thing of course what
property is that generally you can leverage a relatively small amount of
money by way of a mortgage into a bigger investment whereas if you're buying
shares for example you are generally unless you're looking at contracts for
difference which is very very risky you're generally looking at having to
pay cash or pay at least for your shares so you don't have the same opportunity
for leverage with shares and you do have a better opportunity for leveraging a
relatively small amount of an issue seed capital to build up some sort of a folio
some sort of a property folio you do need to factor in as well and on the
factor is the question of maintenance and management of your property it is
not a set and forget sort of the situation you may be lucky
you may get a very very good tenant at the outset but you need to factor into
your considerations the fact that you will get an average tenant or indeed
sometimes unfortunately a tenant from hell and that can make things very very
difficult I could tell you some really appalling stories of tenants I've had
done through the years you know tenants being arrested taken off and animals for
example dogs being left in the apartment for days and I learned down then to pick
up the rent and not only is the tenant gone but now there's a dog a statue on
the leg off a table or something you know it's appalling situation but that
has happened I've seen her broken into or not broken into or doors
broken down apartments belonging to me where the searches lawful search is
carried out by unguarded Chicana and again all of these things come back to
the landlord he must pick up the tab and and sorting those so that's a story hope
you find this video useful if you did give it a thumbs up down below and you
may be interested in subscribing to my youtube channel thank you for supporting
the channel and the shares and the likes and the comments and so

How To Start A Buy To Let UK Investment Property Business Or Portfolio | Property Market Tips



how do you really start a buy-to-let property investment business in today's market let me give you the ten things I think you need to consider hi there my name is Tony law for your first four houses my channel is all about helping you get to investment property number four as quickly and as painlessly as possible so let me give you these ten things I feel you need to have at the forefront of your mind in order to be successful in this property investing world of ours the very first one is to you need to understand your financial goals so let me give you a specific way that you should do this you basically need to understand how much money you're spending every single month download three months worth of bank statements work out what you're actually spending every single month and that is the target that you need to hit essentially to be financially free the sooner you hit that target the sooner you can kind of basically give up the day job essentially and focus far far more of your energy on building your property portfolio when you know what that number actually is now I run a paperless office largely but when you know what that number is I need you to do something very manual for me I need you to go and draw up one of these it's effectively the kind of thing that you'd see if you were trying to raise finance for a particular project at the top of it you're going to have that target that number that you've just worked out running up the side you're going to have integers at about say 500 pounds a little Mark's going up the side and whenever you do a deal that puts money in your pocket you need to color that in it may sound primitive but it's incredibly powerful I've recommended this to a lot of people they use it and they find it really really helps them keep focused so moving on quickly to point number two you need to work out how much time you can give to this so really if you're working full time that doesn't mean that you haven't got time to do this you've got your lunch times you've got your evenings and you've usually got your weekends how much can you give to this the more time you can give the better and faster results you're going to achieve next number three I need you to start building your education now there's a number of ways that you can do this you can look at podcasts you can get books webinars you can employ a coach mentor you can look some courses but the sooner that you can build your knowledge the sooner you're going to barely achieve bigger and better deals and one of the specific things that I'd like you to consider if maybe this is an area of weakness for you is to maybe get some training on negotiation because this is a real key thing that will really help you when you're speaking to agents or when you're speaking specifically to sellers so please look into that number four the sooner that you can focus on picking your strategy the sooner you're going to be successful now I like people to sort of focus on maybe one or two core strategies while they're having more of a shotgun approach it's better to be more laser focused so see if you can work out which one or two core strategies would work really well for you and start focusing on those number five research the different areas and work out where you should be actually buying now I did a video recently on this that basically gives you a really detailed explanation on how to work out supply and demand on any area within about 60 seconds but you need to look at other things in the area that you're actually looking at what's the situation with regards to perhaps new employment what about transport links are they being improved specifically what about population is there an increase or decline that you've noticed all of these things can really dictate the better areas to actually invest point number six go and see a mortgage broker you need to find out what kind of mortgages you can get and again I did another video here on how to actually improve your credit rating I would strongly suggest that you watch that that will give you some real key tips to improve your credit rating which is going to mean you'll get better access to better mortgages at lower rates number seven you need to learn how to find great deals now I know that this is a massive topic and we could go into this in a much in a lot more detail but essentially you do need to understand how to find better deals you need to learn very specifically what makes a good deal for you and honestly this is a real key thing you may have no funds at all but if you can find and negotiate really good deals you're never honestly you'll never have problem raising the funds I'll invest with you if you can find really good deals but in essence there's lots of people around you that will be delighted to sort of put money into the deals if you can find them next start building connections so when I say that I'm talking about connections with agents and talking about connections with deal sources and talking about connections with people who can help you fund your next deal the sooner you start building genuine sincere honest full-on relationships friendships with people honestly the sooner you're going to actually be successful in this property world of ours number 9 is simply exit strategy so many people I talk to to have no clear exit strategy they don't really understand their exit strategy at all when I always encourage people to consider two exit strategies and I would love you to do the same so even before you buy that very first property just consider are you holding this for the long term is this a flip that you want to churn to get the money out very very quickly if things don't work out is there a second way out for you and number 10 and this is the big one this is where so many people stumble and that is you have to to take action now I know that seems bleeding lis obvious but so many people they kind of build their knowledge they learn learn learn but they stop at the action taking point frankly I don't really understand this if I'm being truthful with you I think I think it's largely down to fear quite often and so quite often perhaps having somebody behind you that's maybe got their hand in the small of your back and just sort of pushing you forwards or just giving you a bit of a shelf to actually take that action might be really beneficial for you and let me ask you a question how many properties have you actually been out to sea this week or this month if the answer is none then you're not taking any action I would respectfully suggest so you need to take that action I really hope that you found that helpful I just want people to be successful in this property world of ours and to get to that magical place where the income that's coming in surpasses the money that's going out and if this sort of stuff really helps you I am absolutely over the moon my name is Tony Lal from your first four houses I really hope you found this one helpful I look forward to seeing you in the next video or and before I go please if you can take a moment to subscribe to my youtube channel if you haven't already done so that would be absolutely brilliant with its face books more your kind of thing please like my Facebook thanks ever so much I look forward to seeing in the next video thank you

Investing in Property – The best way to build a property portfolio



hey guys brette alegre-wood here author of the 3+1 plan and chairman of ypc group where we help you to build a thriving property portfolio so you can live the lifestyle you've always dreamed of but in such a way that you're not creating a 2nd job or actually working yourself into an early grave so what I wanted to do today which just we've had been running the webinars now for a while and we've compiled hundreds of questions that you guys have been asking so I want to take those and what I've done is I've broken them down into you know a number of really key questions that most of you guys are repeatedly asking and and what I've done is I want to present them to you so you get that level of education I've always been you know a massive massive supporter of free education and so that's what I want to do for you guys today is really give you I guess what most people out there are concerned about in the market now about property investment about strategies about structures about all sorts of things the questions that you guys have been asking so you know it's not now me telling you what you should be thinking it's Moo guys actually feeding back and I love that about the social media and I love that about webinars so yeah sit back relax and let's get started one of my favorite subjects guys is building people's portfolios and you know you find as an estate agent and when I first started out I was in a state agent and you know you're selling one home to one person and then you probably didn't see them again and maybe they would come back and buy another one if their going to move or something but realistically you know it was you put a lot of energy and a lot of emotion into you know helping them get their perfect property but the thing I love about what I do now is that I actually don't really get emotional about the property and I don't actually have much emotion about of properties that we're selling but what we do is we actually build people's portfolios so this question is probably one of the ones that I most enjoy dealing with and I most enjoy seeing the evolution over time happen you know with some of our clients our biggest client has 17 properties right now you know and they've been working with us for what is it it's about six years now you know so it will get some fairly sizable portfolios across there and you know we've got with one property as well but that you know the building of the portfolio is is really the thing that I'm most passionate about because over those who know those seventeen properties I've seen that in a husband and wife change you know as people and really you know change their fortunes change the way that they view their pension so you know one property is never enough anymore you've got to build a portfolio and so how do you do that well you know the question is how do you how do I build my portfolio safely okay now I'm going to deal with the building the portfolio first and then I'll add the safety safely on the end because I think it's one of these things where it's all it's actually very easy to build a portfolio okay if you you know and I've seen people build up portfolios of 20 30 50 properties but then they've lost them okay they haven't been able to hold them so the question is not about necessarily how to build up the portfolio that's a pretty easy thing to do it's about how to build it up safely okay and we'll deal with a safely bit first I want to show you how to build it then we'll come back and we'll talk about how to actually build it up okay so it's a really simple process okay and with property you know there's not too much complexity about it there is a lot of people involved in a lot of emotions and a lot of arm you know you know various stakeholders if you like and because of that you've got to have really clear lines of communication otherwise things fall over okay and things happen and you know for the most part you know one of the reasons why we work with teams of people that we've worked with for ages is because we know them we communicate well all of them we know that jobs they do and that's really essential if you're going to build a portfolio a large portfolio you want to have a solicitor's you want to have a broker use you want to have a sourcing cut you know so you want to have all these people that you know and you trust okay rather than just try and apply in people every every time fresh you know and that's one of the key things to building a portfolio but actually that's probably talking about the safely bit of it anyway how do you build it pretty simple depending on how much capital you've got anytime you've got let's say you can just start off and you build one you can buy enough money to buy one property now I always say you know if you look at the property here okay you'll see these little things drawn out okay each one of these is a two-year period because what I do I break my the old building and my portfolio management down into the two-year blocks okay two years is key because for me two years is far enough out that you know I can't just grab it and reach it okay but it's also not so far out that what's going to happen is that I just you know don't even think about it because there's a danger in putting something so far out but you just you know go under that something else so two years I find is a really good measure and especially when you think about mortgages you know two-year fixed mortgages and things like that it's a really good time frame to build your pop properly put fire to it also means that you know if you're looking at it and coming back and reviewing every two years then actually you're not going to miss too much opportunity the the property cycle moves in very slow and predetermined you know cycles and because of that you can take advantage of those cycles so let's have a look here so we bought our first property not only have we bought it with cash flowed up to two years now let's just say that for this particular property we spent all our money we haven't got any other spare equity we put aside the cash flow in a provisional account so we're safely doing it but the important thing is we've got that first property now how we're going to make either we're going to make money off the rent so off the yield that gives us if we've got a higher yield that gives us money back in our pocket that we can put in back into property later you know once it builds up or we've got income we'll get a higher income disposable income we put that disposable income or the other way is that what we need to do is we need to wait for property go up in value now there is another way and then the other way is that we sell this property take the profit and put it into a next one the problem I see with that is property is a relatively illiquid asset okay and because of that it actually costs 5% approximately and this is a rule of thumb 5% to get into a property 5% to get out so you know if you're going to buy and sell buy and sell buy and sell every single time then we'll lose 5% which really you don't have to because what you can do is buy and remortgage so as this property goes up in value what we want to do is go back to the which company whether it be they've been the one we with at the moment or a new one whoever's got the best deal obviously you know any user mortgage broker to find that out and take that money out now that we've got this equity from this one we can then and we've still kept this property this is important thing because we want to build a portfolio if we sell that but back at square one okay and all we're doing is we're now that prices have gone up we're buying into a market that's higher and with it's costing us five percent to get out and five percent and get back in so it's a ten percent net cost you feel like alright and we're still with one property alright so we use the equity from this one and we roll that equity through a remortgage into this one so we've now got two properties but the important thing is we need to cash flow this property for the next two years as well as this one all right so now what we're doing is we're you know assuming we've got no other money and there's not money from the rent coming in so we can't Bonnie we wait around and then him look it may not be two years it may be eighteen months it may be whenever you can get that equity and through using a portfolio manager you're gonna find pretty quickly that actually you've got that equity you can access it let's go through okay so here you've got the two properties let's say they both go up in beta now and as your facts this one's gone up let's say this time this two year cycle this one just sat around it nothing but this one went up we take the money from that one and then we roll it into another one here okay and let's say this one did nothing again you know the area is in a bit shady or whatever I was getting regenerated you know this one goes up again this one does nothing well then we take the equity from this one and you know and we basically roll this into the next one and let's say now all these properties go up this one we buy goes down let's say roll it in that one so the whole idea behind this is quite simply that we take the equity from this fund a role in this one the equity from boffo strolling that one equity from those ones to rolling that one and and it's life I've seen what they call it a snowball rolling down the mountain alright now the interesting thing is as this goes it gets quicker so you'll find you'll get one and then it may be two years or even three years before you can get another one okay safely all right then it might be two years this time safely then it might be 18 months safely then it might be six months you know if the market takes off you're going to find it every six months you can go back to your finance company and give him a further advance and as much as some of you might be saying there but banks aren't lending and they're you know they're going to subdue them they want okay the first chance they get to came free lending again they'll do it okay I remember being in a conversation with and I was about it was in the 80s the early 80s and I was probably 14 or 15 and remember having a conversation with and I don't even know the guy I can't remember who it was but I knew it was a multi-millionaire it was sort of know looking at this guy going wow that's a multi-millionaire and back then that was a lot of money multi millionaires and I remember him saying to me you know look he remembered back the previous boom and we're right into the middle of a recession of that stage and he said you know lending and subdued and he said basically he remembers when Lenin was crap you know it come bad and then it come good again then it went bad and that's what lending does it subdues and goes out so don't worry about the lending in that side and right now okay so in principle that's all we're doing okay and working with a portfolio manager and as you build your emotional intelligence and as you get better at this and understand strategy you want to know which properties you can remortgage when you can remortgage them how much you can take out safely okay so and you're just rolling okay and eventually now that's how you build the portfolio up now let's come to the safely bit because I've sort of already alluded to a lot to it if you want to build this safely okay you've got to make sure you've got these two cash flow periods so even if you're going to buy these three properties the fact is you're going to make sure you've got enough to cash flow these okay and we use things called mortgage cost calculations for mortgage cost averaging okay it's basically it's I stole it from dollar cost averaging and turnaround you know such a term I made up and effective what that is is I assume that say in the UK every time I do a mortgage it's going to cost me six percent now if I do that across my whole portfolio then I can see and I don't need to worry about fluctuations in the market because the interest rates going to fluctuate up and down around that six percent now right now we're very low okay which is great because what I should be doing is thinking that at six percent mortgage costs averaging you know three and a half percent let's say pay rate so did this extra bit I can be putting aside so when interest rates rise and they go above that six percent I can then draw on that money and what it means is I can safely grow my portfolio and it tells me a good speed to grow at the problem with most people and look either there's five gurus that are no longer out there okay and all of them had you know 15 million eighty properties this and that and all the hype and BS and all of them had built up their portfolios you know over a very short spitters period of time and what that effectively done was they hadn't cashflow this whole thing they literally just bought and bought and bought and bought and they figured that prices will continue to our prover they don't they work in a cycle here so that's a net continues to that and that's we're going to be very careful about people saying they've got 15 million worth of property because half the time they haven't and the other half the time is that they've done it very quickly and that's a scary situation and certainly as interest rates rise you'll find that a lot of those people go very silent you know including their companies may fall over and they may disappear to Cyprus or Dubai or you know any number of countries that I've heard these guys move have to move to back to Australia in fact one of them in fact two of whom we've gone back to Australia that's quite embarrassing isn't it but it's alright this at this point I hold up my British passport but um so guys you know the whole thing with this is how to build this safely is all about cash flow yeah look a lack of capital to buy more property is just frustrating there a lack of cash flow to hold your portfolio that's just plain dangerous okay that will send you off you know into a world of you know bankruptcy repossession all these sort of things very quickly okay a lot quicker than any frustration about not having a capital to buy this deal or that so guys you know I think that's seen that's a really important lesson it it's very easy to look at this and do this and certainly right now the market is pretty flat but as the market picks up you'll see how quickly this can come about and if you understand this you can use it to your advantage because these periods here may not end up being two years at some point there may be six months three months because if you have 10 properties you know you'll be really mortgaging one this month that one next month that one these months and ten months has gone by before you get back to that one go well it's gone up again so you know it's team roles and it happens very quickly when it does happen so that's why you know all of my investors right now I'm saying get in get prepared get ready for you know even if you're just starting out if you've got no properties right now get the first property you know because what that's going to do is deal with a lot of the emotions so when the market does take off you're you know sitting in the driver's seat so guys I'm sure you found that information really valuable the first step really now is that you need to get a plan you need to actually you know work out exactly how you're going to put this in place so what I encourage you to do is come in and sit down with us talk to us you know grab a coffee with us and what we can do is we can actually start mapping out what your plan is guys I'm looking forward to meeting you real soon at either one of our webinars or perhaps a seminar or if you come to one of our offices around the world have a great day and remember live with passion

Investment Fundamentals #1 – Take personal responsibility



well it is my pleasure to welcome you along to a new themed week here on property tribes it's called investment fundamentals week and who better to join me than Graham Rowan investment consultant and Graham so great to have your input for this week you're going to be here the whole week and actually I have to thank you for coming up with our topics and I think you know a good place to start is to say that to build a solid investment portfolio whichever entity you're building that in whether it be property or shares and you've got to get the fundamentals in place and that's really what this week is all about isn't it yeah so I'm delighted to be here Vanessa and yeah I think it's it's one of the reasons I run you know the investor code myself is to try and help people to put some kind of plan and structure together for how they're gonna build that wealth and how they're gonna protect their wealth because let's be honest you don't learn this stuff in school or university they don't teach it in the workplace and despite loads and loads of new regulations all the time you never hear anyone from government or the FCA saying hey let's do something about financial education so yeah you've got to do it yourself absolutely now the starting point for this week is actually your story because that's really going to guide the week of how you became I guess financially aware and you know worked yourself towards your own financial freedom so perhaps if we could start off by saying you know give us your backstory and how it triggered that desire to start taking responsibility for your financial future yes certainly I guess you know people just need to get a box of Kleenex ready so that when I get to the appropriate point you know that they're prepared but for me I had a great job in the corporate sector I I was a director of a big American company called Texas Instruments and we were selling multimillion-dollar billing systems to telecoms companies all around the world so I'd be jetting off all over the place and you know the good news is I was making a lot of money but I really didn't have that at the time or frankly the inclination to manage it from a sort of investment viewpoint so one of my colleagues said why don't you get yourself a professional wealth manager like I have southern seems like good idea so when met them they came up with this fancy plan that said my freedom figure was 2.4 million pounds and this is how they were gonna get me there and they put my life savings into something called a Nasdaq which I have to say at the time seemed like a great idea because every morning I would wake up two or three thousand dollars richer than when I went to bed the night before and every June I'd go along for my annual valuation with these guys and the figures just went up and up and up then we got to June 2004 at the sky and computer systems didn't crash but you know the Nasdaq had gone down about 10 percent so I said hey guys you know should we take some money off the table and do something else and they said don't be such a wimp can't you recognize a minor correction in a raging bull market when you see one we're staying in ok you know best I went away to my busy lifestyle again came back in June of 2001 and it had crashed and burned and they'd lost me a hundred and fifty one thousand six hundred pounds in 18 months ouch and then they take me into a little side room and say unfortunately mr. Rowan these losses take your net worth below the level at which we look after clients so I'm afraid we're gonna have to let you go so I was fired by my own wealth manager because of the losses they had made on my portfolio so you know I was angry I was confused I was embarrassed had to go and tell my wife Daphne that we'd lost a huge chunk of our life savings and when I kind of reflected and processed a bit I thought you know it's easy to be angry with those guys but in truth it was my fault because I haven't just delegated my wealth management to these guys had abdicated it and just gone off on my merry way and at the lesson I learned expensively and painfully was that nobody else cares about your financial future you are not top of their agenda I don't care smart they are how many advisers you've got accountants IFAs none of them have got you at the top of their agenda the only person that has you at the top of their agenda is staring back at you in the bathroom mirror each day the biggest message I need to get across to people is that no one else cares you've got to take ownership even if you have a team around you you've got to be the orchestra leader absolutely as we always say on property tribes similar to yourself the best person to look after your money is the person that you see in the mirror every morning as you said and I guess what this week you're all about then miss cryptogram is that you had to go through that horrendous financial pain to have this wake-up call and really we're now giving the wake-up call using I guess your hindsight for other people's foresight well I hope so I think the hard part is that you know for me I'd gone through the pain then it became an emotional decision not just a logical when I was angry with myself and I think what I want to try and convey to people is that you know if you're not where you want to be at this stage in your life don't look for other scapegoats don't look don't blame the government don't blame the weather or the economy you know it's down to you you've got to take ownership and if you can do that without incurring that sort of losses and the pain I had to because you're watching this on properly tribe that's great you know you're so far ahead of where I was and you can avoid the pain and the grief and the cost that I had to go through absolutely and the sooner that people start to take responsibility for their own financial situation than this you know they've got a longer time to actually enjoy the benefits well that's right I mean what we're going to go through and the rest of this week is the specifics of how you go about this but I think it's important to just emphasize that there has to be this decision you know it's a little bit like you hear people saying about wanting to lose weight or something that's all well there are also full of good intentions but unless you really really really feel it and you're one that and you've got a strong reason why you want to make this happen you're gonna just let it all slide and life gets in the way you'll be too busy doing a B and C so my plea to people watching us is is to really sort of look in the mirror make an emotional decision that you're gonna take ownership and then you will take action on the stuff we'll cover in the rest of the week I think it's really about making a commitment to yourself and to becoming educated which indeed is the topic of our next video and then you know just taking sustained and intelligent action on a regular basis and that's really how people are going to build a kind of solid foundation for their future wealth no absolutely it puts me in mind of in one of my favourites of mentors was the the late Jim Rohn and yeah one of the things he used to say was that you know the difference between success and failure is small decisions you know repeated each day and if you make the right decisions over a period of time you'll see a phenomenal result if you make the wrong decisions over a period of time you get a very different outcome so it's really all about just those little things you do every day that are furthering your your whole process towards financial independence and once you take that decision and you start doing these little steps day-in day-out for weeks months and years you'll be amazed at how you can transform your financial circumstances and indeed people do have to take a long-term view and there's not really any get-rich-quick unless you win the lottery or something of that nature so people have to have a very long event horizon yeah I think unless you're gonna marry it divorce it or inherit it then you've got to go about creating and it's gonna take a long time but I tell you what you know what once you start the process you know you'll see some results quite quickly and I always tell people to celebrate those little results you it might it might be the first thousand pounds that you save or something but just you know celebrate those baby steps along the way and it they become habits and once they become habits you know then you're on the road you're on the journey and the rest will start to happen and even if you make the occasional mistake within that context of owning your financial future and taking steps every day it doesn't matter you know you will get there it really is a case of kind of like almost like a switch being flicked where somebody just has to have that realization that they now to take responsibility and just you know start moving forward and almost that kind of switch flicking on is the most important part and then you're away that's right and then that just gets reinforced with all the other actions and all the other topics we're going to cover for the rest of the week well I hope that has whet your appetite for the upcoming week of content that we are hosting in association with Graham Rowan of elite investor club I've got lots more really great stuff to come it's going to delve deeper and deeper into this topic of investment fundamentals and I guess Graham it doesn't matter what level of knowledge people have already there's good whether they're an absolute beginner or somebody very experienced we hope there's going to be something for them within the week no absolutely and I think you know that the fundamentals as the name implies are always true and so it doesn't matter where you are on the journey it really helps and it really pays to take a fresh look and yeah we all have our biases that some people are only in the property some are only into the stock market I want to try and broaden people's thinking a bit because if you want real firm foundations for your wealth you've got to understand the whole marketplace all the opportunities are open to you and you've got to understand you know how you're going to build wealth across a whole range of different assets absolutely so that's what we're going to be looking at for the rest of the week if you're watching this video on YouTube I invite you to hit the subscribe button and if you want to join our conversation and also where Graham will be interacting please click across to property tribes comm but stay tuned as investment fundamental week continues

Investment Fundamentals #2 – Get educated!



but welcome along to day two of investment fundamentals week here on property tribes where my guests for the entire week is elite investor chairman Graham Rowan and Graham and we're moving on to day two of our content and today we're going to talk about the importance of education and of course this is a topic very close to our heart here at property tribes because we believe that you can never learn less and actually the way to success is to actually make a lifelong commitment to get educated and that's something you subscribe to isn't it oh totally I mean my whole sort of mission has become to try and end financial illiteracy you know this is something that I I see everywhere and it's it's a mission that's taken me to the UN in New York to Harvard Business School in Boston houses of parliament you know Singapore yeah I just really want to get on my on my soapbox and talk about this because yeah we briefly touched on this in the first day's episode but you know you you you just don't learn this stuff in school or university or the workplace so you know once you've made that fundamental decision that you're in charge of your financial future you've got to start looking for where you can learn a bit more and it's it's a double-edged sword because there's so much out there now with the internet you know I mean when I was growing up you know you just had books in the library and whatever you know these days you've got you're bombarded with it so as much as anything it becomes a process of narrowing down and selecting what you're going to look at but really you've got to start with a fairly broad view of what's going on in the financial market so I I subscribe to a magazine like money week which is a nice succinct way of seeing what's going on the financial times especially the weekend edition I think is particularly helpful so just just starting to read those will put you ahead of ninety percent of the population in terms of having an awareness of the economy of stocks and shares of property of bonds what's going on in the marketplace then you can start selectively reading some books by people who are obviously in those fields and then you can start looking at content obviously you know property tribes is one platform where you can learn a lot there are similar platforms from stock market type investments you know for us we have specialized more an alternative investment so you start to learn about those through through elite but the idea is that you can go to some seminars read some books regularly read magazines the sort of thing I would avoid frankly is the kind of 24/7 CNBC kind of TV stuff where the stickers going across the screen and it's real time yeah nanosecond you know none of that matters that's just noise and distraction but if you can just have a perhaps a couple of hours a week of just dedicate that time plus occasional seminars that you go to I mean I I mean obviously been around this world for quite a while now but I I still probably spend ten thousand pounds a year going to seminars in in Britain and America to keep myself sharp you know and to see what the latest thinking is now I'm not saying everyone has to start at that sort of level you think a lot of these events are much much cheaper than that but you know go along to a few see what you learn see who you meet because another benefit of this and you know because those of us who are real into staff and onto a future we are weird you know I mean our friends and our family don't understand us sometimes your spouse doesn't understand you know so it's really nice to go somewhere where you've got like-minded people one of the best bits of feedback we get is the events we run I love to meet other investors who think like me because you know no one else in my circle does so so you'll find that it all becomes kind of reinforcing because you're starting to learn a bit more you're meeting other people who want to learn a bit more and you kind of help each other along that process and you know the main thing I would say is to start but don't get too many sources of knowledge or else you'll just feel overloaded and pressured by it so you only need a handful of things you know two or three books and magazines couple of seminars and a platform like like the property tribes that's enough you know but just regularly consume it and start growing your knowledge week by week indeed and I think you know when you're choosing a source of advice I think it's important to understand if there's any kind of agenda behind it and one of the great things about property tribes it's a hive mind of knowledge it's not a singular opinion it is a mass of opinions that people reading can take in and take away from it what they like Mull it over form their own opinion and that's a very very healthy way to learn but unfortunately a lot of people tend to get sucked into what I call the wealth creation industry which is where they're told they can be a millionaire in a year I can see the look on your face already and they don't need any money and you know once they get into those kind of marketing funnels they can actually end up paying thousands and thousands on education and maybe even end up with nothing to show for it and what what's your view on on those kind of property gurus that say you can be a millionaire in a year oh it really it really pains me to be honest I mean you know one of the places I at a couple of times a year is the property investor show I think it's where we met actually and it does pain me there I see gurus there peddling the same strategies that may have worked ten years ago and we know today from all the recent changes that they're not going to work and there's an awful lot of gullible people go to those events thinking they can get rich quick in real estate and they sign up for these programs and some of them are thousands and thousands of pounds deposit on a house actually indeed you know so so you know please so yeah be very very careful you have to have a bit of discipline about what you're doing you have to you know just by all means gather information but but don't be too quick with your credit card or your checkbook I mean I had a member in here the other day who's in this kind of education phase he went along to his first property auction the other day as part of that and he bought the property and I said really wouldn't have done that you know you were there to learn and you couldn't resist you got emotional and you bid on something and now you own this property that's 300 miles from where you live what exactly you're gonna do with that you know so you've got to be careful not to get then but the the idea that you can get rich in real estate or anything else I see the same in kryptos I see the same with financial trading of the stock markets oh yeah I'll remind people of the the nineteen ninety ninety rule on financial trading which is at ninety percent of people lose ninety percent of their money in the first 90 days when they get involved in this sort of day trading and so on so be careful this is the education of phase yes shouldn't be spending too much money at this point maybe a you're buying some boots you're subscribing to some papers or magazines and you're going to the odd seminar that doesn't mean you're signing up for the top-end mastermind program here whiz-bang whatever and and remember that you know a lot of people go for the things where they think they'll get rich quick back where I come from in Georgie land we have an expression which is fur coat and no knickers you know which really means you're going for that sort of top-end yeah Shoei high risky stuff but you haven't got any other fundamentals underneath you haven't laid the foundations this week's all about foundations and that stuff ain't foundation laying so don't come at this with a get-rich-quick attitude in fact I often say I reverse it and say look get rich slow that's the way that will last no I agree 100% and I do get very concerned when I hear these property gurus recommending that people go straight into HMOs for instance and I've been to those kind of seminars and was very concerned that they never once mentioned the word tenant and that's the person that's going to be paying your rent and servicing your mortgage and they they don't even mention them so you know I totally subscribe to what you say and you've mentioned quite a few sources that are free like property tribes or you know a few few pounds a week for a magazine or a subscription and maybe a couple of hundred pounds for a good day out at a seminar or indeed the landlord investment shows are free to attend as is the property investor show so there's lots of good sources of information out there but then do you also you know we need to talk about paid advice as well because paid advice is insured advice is this at the stage that you start thinking about working with a broker finding your tax advisor and starting to build those relationships well the thing I think that really should start you off depending where you are in the journey I appreciate we've got people at every different level that will be watching us but in the very earliest stages I always encourage people to open a bank account that's separate to their main bank account often with a different bank and call it your name wealth account so the John Smith wealth account and then get into the habit every time you get paid whether that's a salary or dividends from your company or whatever go and put a percentage of that money into your wealth account once you get into that and I say don't do this online do it have it as a physical branch in the high street so you've got to walk there and the only reason you're going there is to make a deposit in your wealth account you're not doing this for convenience you're doing this with a psychology of it the habit-forming side of it so then you've got money that's accumulating first that gets you into the habit of saving and frankly I don't care what you earn if you can't save on 20,000 a year you won't save on 200,000 a year it's a mental discipline and all the wealthy people I know we're saving money when they're on 20,000 a year so so you've got to get into that discipline first so once you start accumulating the wealth that sort of takes the pressure off your urge to sort do something quickly because that you know that's going on in the background so that just keep the saving going whilst you're educating yourself when you come into the point where you know I'm gonna pay that veiss I think certainly it's worth looking at perhaps getting referrals or recommendations to people from people that you know have been successful with them and you know obviously there are good and bad mortgage brokers good and bad tax advisers so the more you can find the right people who have already achieved success and see who their advisors are that's a great way into that and also you need to really get start to get some clarity on your strategy you know I mean this may be be heresy on on a property platform but you know that there are other investments out there apart from property that people should educate themselves on as well and the whole point about this it's a bit like you know whenever I meet somebody who's got all their money and buy to let or all their money in the stock market I I say well you know basically you're riding a unicycle you know you are kind of wobbling around on a single whee here and all your wealth depends on that one asset class if you start investing across multiple asset classes you've got a bike quality a trike quad bike or multiple legs on your table you know so so you need to learn about the whole market and real good long-term investment strategies are well diversified so there'll be property in there but the loss would be stocks and shares there'll be precious metals that commodities you know there'll be currencies and all the rest of it so we'll go through this later but you know you've gotta have a breadth of investments and then start looking at where you might source them from including advisors including sourcing deals and all the rest of it so you're building your network at the same time as you're building your knowledge and your education well fantastic so that is part 2 of our investment fundamentals week and we've been talking about the importance of education and Graham I think this week's just going to get better and better as we go on I'm so really just find the way you explain everything it makes it really really easy to understand and it's very engaging so thank you very much for that tomorrow we're going to be looking at your income engine and why you need to turbocharge it so we've got another exciting day tomorrow haven't we go to it so if you're watching this on a youtube I invite you to click the subscribe button and if you want to join our conversation we're gray and will also be interacting with property 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