The property business offers many opportunities to make money, but only a few areas of the industry will appeal or suit your temperament.
Don’t simply go into buy to Let because everyone you know is doing that, look at yourself carefully and work out, what your natural skills are, what you are naturally enthusiastic about, what gets you passionate – these are the elements that keep you going when times get tough.
You may be a natural trader with a short attention span so spotting deals and ‘flipping’ on for a fee may be for you, you may be a long term plodder so finding land and developing one house a year might be your bag, you may be a people person but not good with financial matters so running a letting agency might suit you best, you may have a low tolerance for uncertainty so 6 month Assured Shorthold Tenancies would drive you mad! Therefore long company lets or investing in shops with long commercial leases might give you the quality of life that’s enjoyable.
Do not just go into this industry just to make money because the chances are that if you don’t enjoy what you are doing you will not give it your best, you will not push yourself to jump out of bed after only a few hours’ sleep to solve a problem for example, you will let things slide unless you passionately want to do something.
Life and business is a journey, when you reach your goal it’s all over and you have to find another goal – the time between setting a goal and achieving it is what we call “Life”, if you don’t enjoy your “Life” what is the point?
Give yourself the best gift in the world - earn money by doing something you love doing - then it ceases to be work. It becomes a ‘Lifestyle’ and one which you have created for yourself. Keep refining your Lifestyle until you have found a niche in the Property industry that you enjoy, you are passionate about and you can become an expert in –then your success on many levels is assured.
If you think I can help you succeed in any way, or if you have any questions, don’t hesitate to get in touch!
This publication is the first of many that will focus on different aspects of the UK Property industry so please watch out for my new books.
