Don't be fooled with all the deals that you see
Property deal hunting without a proper plan is like jumping into a river full of piranha's. It is not as simple as that if you really want to make a profit and build your property portfolio.
Deal hunting without a proper plan. So we'll move on now so what's the solution where do we go from here.
Deal hunting where they had a plan is like jumping into a river of piranhas and cutting your leg off! You know it's a ridiculous notion, unfortunately this is what most people do. Most people come in the industry and if you're starting out right now, you know I warn you against this. You sign up to 100 different websites or 10 different websites and you just get bombarded with deals.
Have we got a deal for you because that is what the industry teaches you know that is real estate 101. It's about urgency it's about getting that person it's you know it's a scarcity mentality. It's the worst thing you can do is to go deal hunting immediately.
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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.
One of the things we talk about as a business is we talk about getting a plan, get a strategy you know and with those two things and make sure that strategy meets the market and when you do that it's amazing what you can get and the level of certainty you can get. Understand the rules of the game and all this sort of stuff because that actually is the way to invest in property. That is what we know you 100% have to do so.
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I think you know for me the first step you know is don't go deal hunting. Don't go looking for hundreds of different properties to buy or and you know and try and make a decision on whether it be students or HMOs or you know off plan or new build or whatever it is. Work out the plan and the plan is. Where do you want to go? Where are you starting from, how are you going to get there and then you get a strategy that meets the market.
Deal hunting without a proper plan. So we'll move on now so what's the solution where do we go from here.
Deal hunting where they had a plan is like jumping into a river of piranhas and cutting your leg off! You know it's a ridiculous notion, unfortunately this is what most people do. Most people come in the industry and if you're starting out right now, you know I warn you against this. You sign up to 100 different websites or 10 different websites and you just get bombarded with deals. Have we got a deal for you because that is what the industry teaches you know that is real estate 101. It's about urgency it's about getting that person it's you know it's a scarcity mentality. It's the worst thing you can do is to go deal hunting immediately. One of the things we talk about as a business is we talk about getting a plan, get a strategy you know and with those two things and make sure that strategy meets the market and when you do that it's amazing what you can get and the level of certainty you can get. Understand the rules of the game and all this sort of stuff because that actually is the way to invest in property. That is what we know you 100% have to do so. I think you know for me the first step you know is don't go deal hunting. Don't go looking for hundreds of different properties to buy or and you know and try and make a decision on whether it be students or HMOs or you know off plan or new build or whatever it is. Work out the plan and the plan is. Where do you want to go? Where are you starting from, how are you going to get there and then you get a strategy that meets the market.
