Which Approach would you choose? Both Perhaps?
Welcome guys.
So, if you don't choose one of these models, you're probably gonna lose money in property.
So what are these two models, well there's two approaches to how you do property and one of them is it is a Do It Yourself the other is a Done For You.
The interesting thing is you can make money in both strategies. It doesn't matter which you choose. The most important bit about this, is whether or how you go about it and the key thing here is you can make money in property thousands of different ways.
It doesn't really matter what you do, the fact is if you choose a strategy, you have to know the rules that apply to that game. And when you understand the rules that apply to whatever the game it is you choose, whatever the strategy, whatever the structure, whatever it is, if you know the rules of the game, you're less likely to make mistakes and mistakes are what really cost us.
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Here's Why Done For You or Do It Yourself Are Essentially The Same Approach...
Either way, a Done For You or Do It Yourself model are almost the same models.
As much as we sit there and you know like my business is very much a Done-For-You I set the whole business up so that we can do everything for our investors, but our investors, still have to make decisions, they still have to take responsibility for those decisions.
And even if you're doing a Do-It-Yourself model, you're still gonna need to find other people, I mean let's face it, a done for you. Yeah, what we do is we go out we find professionals in each of the area.
Now in some of those areas we are the professionals Yeah, my team is it myself, but in other areas such as conveyancing such as finance.
Okay, we outsource that. Yeah, or building the property we outsource that to a developer or refurbish the property we outsource that or a planning you know getting planning, we outsource so planning consultant, you know, so it doesn't matter what approach you do you're going to be doing virtually the same thing.
What most people see as a do it yourself is where you go and you do lots of work yourself and you make, you know, effectively, you learn each of these roles, not all of them because they're always going to be some of the stuff that you outsource.
So the question becomes, not whether you choose this one or that one, and whether this one's better than that one, it's actually more about what you allocate to other people what you delegate to other people.
One of the key functionalities of this delegation process is you delegate the task. You don't delegate the responsibility. So you want to maintain responsibility throughout the whole process.
What Are You Going To Do and What Are You Going To Delegate.
So let's have a look at some of the things so if you're looking at what you need to delegate out and what you need to do yourself.
Start by looking at what your skills are? Look at what your interests are? Look at your cash position in terms of what can you afford to pay someone or do you need to learn it yourself? Where you learn it from? What education platform you use?
Are you gonna do courses? Are you gonna go on to these free weeknight courses, or the expensive weekend ones?


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So What do you need to Delegate or Do?
Are you going to Source properties yourself? Can you even source and do due diligence?
Are you going to Negotiate the price and terms? Can you negotiate or are you going to use an agent?
Then you've got Planning to address. But are you going to apply for planning to really know what you're doing there, remember it's a pretty complex and tricky situation,
What about Refurbishing, Development or Building? You really know you're going to contract that out,
You've got the Conveyancing
You've got the Finance?
You've got to know the Furnishings and Flooring and all those sort of things are you going to handle them?
You've got the Lettings or Finding an Actual Tenant. Do you even have the knowledge or ability to get on the platform?
You've got Tenancy and Property Management ongoing management to really understand the compliance.
And finally, and I think the most important thing. One of the things that should be actually done up front before you even look at a property is the Strategy. Because strategies came when you set the strategy right know the rules of the game.
When you allocate who's going to look after these different aspects of the business and understand within all these things there's different levels within finance. There could be the mortgage, there could be bridging finance. And so there's a whole range of intricacies, and that's where we get into, but understand, these two strategies, you have to approach it like any other business.
And when you do that, and you approach it like a business in a professional manner. It's amazing how you can decrease the chances of losing money, increase your upside.
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When you do that, generally property works out pretty well. It's when you go headlong in to throwing all that responsibility on to somebody else. And you know, giving them the tasks to do everything and just going on totally hands off I don't want to deal with it, that you have no control now, and then you're at the whim of that person so what we suggest is make sure you maintain that responsibility you understand the decisions to be made.
Live with passion and fun,
Brett
PS. Get Certainty By Getting In Touch
Oh, and by the way, if you're not sure about where to go and what to do right now in this market right now, then be sure to call the team get down and have a chat with them even come in for a meeting if you want to come in or we can do Zoom meeting whatever works for you sit down, get your questions answered.
Work through sourcing, who's going to do that? how am I going to approach that what's the strategy? I want to negotiate, handle planning, building, you might not be building you might be buying an existing property.
You might want to refurb it. You may want to paint the walls, you may want to do some maintenance on it.
So go through all that with the team and get real clarity about that. And obviously my team today, they can talk you through all that sort of stuff. That's what we set out to do. Okay. See you guys.
So welcome guys. So, if you don't choose one of these models, you're probably gonna lose money in property. So what are these two models, well there's two approaches if you like to how you do property and one of them is it is a do it yourself. Okay, and the other is a done for you. Okay. And the interesting thing with both is you can make money in both strategies. It doesn't matter which you choose. Okay. The most important bit about this, is whether or how you go about it and the key thing here one things I say, you can make thousands of ways to make money in property. Yeah. You know it doesn't really matter what you do, the fact is if you choose a strategy, you have to know the rules that apply to that game. And when you understand the rules that apply to whatever the game it is you choose whatever the strategy whatever the structure, whatever it is, if you know the rules of the game, you're less likely to make mistakes and mistakes are what really cost us. Okay, and might now say things do go wrong. But either way, a done for you or done it do yourself model in actual fact, they are both almost the same models. Yeah. And as much as we sit there and you know like my business is very much a done for you I set the whole business up so that we can do everything for our investors, but our investors, still have to make decisions, they still have to take responsibility for those decisions. And even if you're doing a do it yourself model, you're still gonna need to find other people, I mean let's face it, a done for you. Yeah, what we do is we go out we find professionals in each of the area. Now in some of those areas we are the professionals Yeah, my team is it myself, but in other areas such as conveyancing such as finance. Okay, we outsource that. Yeah, or building the property we outsource that to a developer or refurbish the property we outsource that or a planning you know getting planning, we outsource so planning consultant, you know, so it doesn't matter what approach you do you're going to be doing virtually the same thing. What most people see as a do it yourself is where you go and you do lots of work yourself and you make, you know, effectively, you learn each of these roles, not all of them because they're always going to be some of the stuff that you outsource. So the question becomes, not whether you choose this one or that one, and whether this one's better than that one, it's actually more about what you allocate to other people what you delegate to other people. All right. And one of the key functionalities of this delegation process is you delegate the task. You don't delegate the responsibility. So you want to maintain responsibility throughout the whole process. So let's have a look at some of the things so if you're looking at what you need to delegate out and what you need to do yourself, obviously go look at what your skills are you look at what your interests are, you will look at your, your cash position in terms of can you afford to pay someone or do you need to learn it yourself, you know, where you learned from what education platform you use, are you gonna do courses, you're gonna go on to these weekend free, you know, free nights or free weekends or expensive weekends in some cases, okay, you know, this is where it is so let's have a look so we've got sourcing. Are you going to source properties yourself, you've got negotiate, you can negotiate. Are you going to use an agent. Okay, you've got planning. Are you going to apply for planning to really know what you're doing there that's, you know, a tricky situation, you know refurbishing or buildings you really know you're going to contract that out, you know you've got the conveyancing the finance, you've got the you know the furnishings and flooring and all those sort of things are you going to handle, you've got the lettings finding actual tenant to even have the ability to get on the platform to trust you know these platforms that offer you know direct to landlord things, you know you've got management ongoing management to really understand the compliance. And finally, and I think the most important thing. One of the things that should be actually done up front before you even look at a property is the strategy. Okay, because strategies came when you set the strategy right know the rules of the game. When you allocate who's going to look after these different aspects of the business and understand within all these things there's different levels because there's far within finance there could be the mortgage, there could be bridging my finance, there could be hard to get them closer together so you may have some personal finance stuff. And so there's a whole range of intricacies, and that's where we get into, but understand, you know, these two strategies, you have to approach it like any other business. And when you do that, and you approach it like a business in a professional manner. It's amazing how you can decrease the chances of losing money, increase your upside. Okay. And when you do that, generally property works out pretty well. It's when you go headlong in to throwing all that responsibility on to somebody else. And you know, giving them the tasks to do everything and just going on totally hands off I don't want to deal with it, that you have no control now, and then you're at the whim of that person so what we suggest is make sure you maintain that responsibility you understand the decisions to be made. Alright guys, have a great day live pass remember, subscribe, comment, and I'm happy to answer any questions. C'est la vie. Oh, and by the way, if you're not sure about where to go and what to do right now in this market right now, then be sure to call the team get down and have a chat with them even come in for a meeting if you want to come in or we can do. Zoom meeting whichever you know whatever works for you sit down, get your questions answered, and work through sourcing who's going to do that how am I going to approach that what's the strategy I want negotiations planning building, you know, look, you might not be building you might be buying existing product property, but then you might want to refurb it. You know, you may want to paint the walls, you may want to do some maintenance on it. Yeah, so go through all that with the team and get real clarity about that. And obviously my team today, they can talk you through all that sort of stuff. That's what we set out to do. Okay. See you guys.