How To Build Choices: Do It Yourself Or Done For You

Act as if you are buying a property

There will always be a reason not to get started in property. There are risks but you can get through that if you have education and experience.There's always going to be something in the background and you just got to filter that out. 

Two choices in how you build your portfolio: you know you do it yourself or done for you. And the reality is that for the most part you may do some of the stuff for yourself but that is gonna become less and less now as you have to do more and more or use you know professionals more and more.

You're gonna have to get your power team around you. You have to get people that advise you and help you and obviously that's something that we can do. And it's something that we're experienced at and what we do every day of the week is the done-for-you approach.

Where you know you're busy, you don't have the time, you don't have the relationships that you need. We can do all that for you. The reality for all this is if you're not sure and you're not certain then the best thing to do is have a chat with a team and just get all your questions answered. Don't rush into buying a property. Don't rush into doing a deal that's not necessarily going to help you.

Take your time, get it all squared away and when you do that it just makes so much sense. One of the statements that Ritesh made which was 100% accurate is people think property is complex but actually it's relatively simple and that's what we're doing to make it very simple but effectively take all the tasks away from you and we'll use our team and we’re professionals.

It's a very different market in Scotland, it's a smaller market. There's some fundamental changes namely oil and gas with all the issues there and that I know Aberdeen and a few of those places house prices have dropped considerably. So, it depends on how that's reacted.

Any comments on that guys before actually we'll open it for questions in a sec too. 

RITESH: If you're thinking you know, have been thinking about doing something. There's always going to be reasons and concerns and you know things that stop you. You know whether they are real obstacles or whether you're just making excuses to yourself and that's sometimes what it can be. The reality is that I would say, is sit down with us and go through everything in a lot of detail.

Go through your concerns because we are happy to share all the risks involved in all this. So you actually understand you know what good looks like, what bad can look like. More importantly what steps and systems can you put in place so that actually bad doesn't really look bad, it's just like you never knew you didn't have the system to deal with it. Get that and plan formulated and then go away and make the decision. Don't sort of sit there and don't sit on the fence and don't do nothing.

DAN: I think the main thing is that when you do make that decision whether you're going to do property or you’re going to contact us. It's an educated one because we all come into this with barriers, concerns and all that kind of stuff it's about you know understanding the upside, the downsides, the mechanics behind all the strategies getting a clear picture of how it all works.

Like I said, the planning side is strategy, structure. So we make sure that we structure it in certain ways so if you're concerned about interest rates going up we structure it in a way where you've got buffers and allowances. So I think the main thing is to commit to exploring it and making an educated decision at the end of it once we've gone through everything in detail.

BRETT:  Yeah 100% and you know I think guys with this whole thing is you know there's always, I always talk about the you know the white noise. You know the TV screens that have the white noise all over. For me there's always the white noise and what I mean by that about properties there's always some reason not to do it.

There's always something in the background sitting there that says oh that's a risk. You’ll never have absolute certainty. You're never going to know this is exactly right. You can listen to one expert but another expert will tell you something different. The problem is until you get to the point where you start asking questions yourself and you sit down with people and you work through, you'll realise that actually a lot of the the risks can be mitigated.

There's still risks and there's still downside and you know that can happen you know but actually a lot of it can be mitigated and a lot of it is actually emotions and it's just getting your emotions in check. You do that through education and experience. One of the things I always say is you know act as if you’re buying a property and go through some drive runs with us. Go through cash flows, go through the area, do the research act as if you're going to buy it and you do that a couple of times which is cool.

DAN: That's when the real questions and concerns come up.

BRETT: 100% you know and you very quickly realise that actually there's always going to be Covid or there's always going to be recession. There's always going to be something in the background and you just got to filter that out. You’ve just got to filter out the white noise because for the most part it's not actually going to affect you and it's unlikely to affect you and the bits that you know about you you minimise or you mitigate that risk as much as possible.

If it comes true, it comes true you deal with it then. If the market changes you know the tax goes up this goes down the other you know that happens you just deal with it you know you roll with it that's part of the review process of the portfolio management we do. We're constantly reviewing and we can review as often as you want generally it's you know every six months, 12 months, two years depending on where you are in your cycle because property does move relatively slowly.