In this week’s post my aim is to give you a little taster of my 2nd book – The Dormant Landlord. My 1st book is about personal finance and investing. Although, it is written in a similar style, my 2nd book is just about property investing.
Disclaimer: this is not advice. This is information only.
A little taster of my 2nd book
To be honest, this property book is not the usual success story. I have made several mistakes and was dormant for a long time. Like the 12 years between buying my 3rd and 4th rental properties. The reason for writing this book is to help current property investors and potential property investors. To help them learn from my mistakes and to demonstrate what is possible with a change of mindset …
The best advice I can offer is to focus on your property network. Whether you are about to start investing or been investing a while, your network is massively important. Getting around other investors will help you to up your game.
This took me 17 years as a landlord to realise. It’s key to get around other investors if you want to be successful. They can motivate you and inspire you to be better and do more. And to realise what’s possible in the property game.
There are many training companies that offer networking and property training. A few didn’t suit me because of their aggressive sales pitch. Be aware! It is easy to get sucked in as they play on your emotions. Property training companies can offer excellent content but there always seems to be an agenda to funnel you towards expensive training.
If you do go to a free property event, stand guard. Don’t go there with your bank card and sign up for the expensive training without giving it serious thought. This training can work and there are examples of students who go out and smash it. Just be aware that there are also students who get into serious debt and don’t get the results they are promised or sold.
My little property journey will show you how not to do property investing. If you’re not careful, being a landlord or investor can be difficult. Not being on top of your admin and legislation will make things difficult. Being organised however can and will make things much simpler and property investing can be relatively passive and straight forward.
Personally, I have been on a bit of a roller coaster. In my early 20s I had a small portfolio with £50k in equity. After the financial crisis of 2007/2008, I ended up being £50k in the red. This hurt my ego and had more of an impact than I realised at the time. This led to 10 years of being negative about money. And I was very negative about my little portfolio.
But everyone likes a comeback. Thankfully, I can also demonstrate how to do property investing properly. This is due to a combination of knowledge and action. Knowledge from books, audibles, podcasts, training courses and networking with other investors.
Learning is not enough on its own. You must put that knowledge into action. This isn’t easy as self-doubt can kick in from time to time. With a bit of time, you learn to give it a go.
When done correctly, property investing can be powerful. It allows you to benefit from cashflow and potential capital appreciation. It can even make you financially free or financially independent.
That is what we are going to cover. This book will show you how property can make you financially independent (FI). It’s not easy but it is possible. Our mindset is going to be that anything is possible.
Everyone is different. Some of us might only need £20k pa to be FI. Some of us might need £100k pa to be FI. We are going to head for the UK average salary of £30k pa (well £29.6k as of 2021). You will get to £30k pa with a solid foundation. Then you can go off and do your own thing. You can be more than happy with £30k or push on and go for £50k pa or even £100k pa.
This book is designed to be a steppingstone for aspiring property investors. And a useful guide for current investors looking to up their game.
It’s not about early retirement. FI is the ability to choose. You work where you want and when you want. If there is some form of global crisis like COVID, you have a back-up plan and are not just reliant on your one source of income from work.
We are going to get into property and put the graft in. You might have some late nights. You will probably spend some weekends doing some refurb work. There might even be some stress and tears. Get the radio on and smooth fm will get you through. Well that’s what has worked for me in the past anyway.
But it is going to be worth it. Because once you are up and running, you will have the freedom you have been looking for.
What I am offering you is a lot of experience. 19 years of property experience will find its way onto these pages. You will get all my mistakes, lessons, and advice on how to be a successful property investor. I will let you into everything I’ve got from my property journey and what I have learned from the experts.
This book will be split into 2 parts. Part 1 will show my many mistakes as an average landlord – the dormant landlord. You have my permission to have a good laugh at my expense. But I want you to learn the lessons and have a much smoother property journey than I’ve had to date.
Most of the content will be found in Part 2. What I can 100% guarantee is that there is a lot of content for you to use to help you become a successful property investor. Over the last few years, I have pushed hard to up my game. The reason for writing this book is to help other investors or people thinking about becoming a property investor.
It is designed to be an easy read that you will be able to consume in a few days. So that you can put the knowledge into action.
What to do
Have a little look at my 1st book . Read the reviews and see what you think. And if you like the sound of my 2nd book – The Dormant Landlord, I am looking to get some early reviewers. If you have time to do this get in touch and I will send you a free pdf copy.
It would be a big help to me if you could give me some feedback in the comments. Like would you read a property book like this? And would a title like the dormant landlord pull you in if you were looking for a property book?