#day5 of #6daysofhighsandlows 🙌🙌 . .
Best tip vs. Sobering Advice 👍👎🏻 . .
BEST TIP 🥳 . .
Tell *everyone* what you do! If like us you want to build a large, cash flowing portfolio over a handful of years rather than decades, then it’s very likely that you are going to need people to partner up with you to scale up quickly. We’ve had all sorts of opportunities come our way through simply talking to people in playgroups, walking in parks, in shops, at social events and most significantly through social media - these opportunities have ranged from Angel investment, to inside market information, to first dibs on properties not yet on the market, to potential JVs, to sourcing, to consultancy. It’s been 🔑 to getting us to where we are today. .
SOBERING ADVICE . .
Do your due diligence! We’ve had so many examples of agents telling us that a prospective property will rent “all day” or sell for “x” amount - when in actual fact some simple market research would suggest otherwise. There have been times when we’ve pushed agents to back up their claim that a property will be worth “x” amount after a refurb to be met with uncomfortable silence or a sheepish “there is no evidence”. Speak to multiple agents to get a truer view of rental value and demand, do your own research on Rightmove, Zoopla and Spare Room, ask on local Facebook groups, speak to other investors, knock on neighbours - do your own homework! Once you own a property it’s your responsibility - no amount of blaming somebody else for bad advice is going to make the property cashflow or sell for any more!