Disclaimer: This post is not advice. It is information only.

The Dormant Landlord

I have been property investing now for almost 20 years. I bought my rental property as a very naïve 19 year old. Within the year, I would be a property millionaire. Let’s just say that I was very naïve.

Things didn’t quite work out as I planned. In my mid-20s I had 3 rental properties. Then the financial crisis came along and a few other bumps along the way. This led to a 12-year gap between rental number 3 and rental number 4.

After the 2008 financial crisis, my little portfolio had £50k of negative equity. This contributed to a negative decade between 2008 and 2018. I was negative about property. I hated my 3 rental properties. I was negative about work. I was negative in general.

In 2018 I’d had enough of being negative and eventually got a grip. I was watching Tony Robbins videos on YouTube, and this led to personal development at the back end of 2018. Much needed personal development! From the start of 2019 onwards, things have improved.

I’ve started investing in property again and have other investments that are ticking over in the background.

One of my biggest mistakes during this negative decade was trying to do property investing by myself. It’s quite lonely to be honest and I found it difficult. This is where networking comes in. I’ve finally realised how important it is to get around other like-minded investors. They offer support and have a positive impact on your property journey.

This is all covered in my new book – The Dormant Landlord. This goes over all of my lessons learned as a dormant landlord so the reader can learn from them. It also goes over how I’ve transitioned from an average landlord to a professional property investor. My intention is to help other aspiring property investors to have a smoother journey than I have so far.

Networking over the last few years

The best advice I can offer is to focus on your property network. Whether you are about to start investing or have been investing a while, your network is massively important. Getting around other investors will help you to up your game.

This took me seventeen 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.

Many training companies 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 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.

A lot of my networking has been done with PIN (Property Investor Network) and I’ve also done training with PIN. An excellent community that offers excellent support. There are many property investors who are smashing it property wise within this community and this has had a positive impact on me. The training gives you the necessary knowledge to go out there and build a successful property business. What you find at PIN, is that everyone wants to help each other and it’s a positive environment to be part of.

All I am saying is learn from the dormant landlord. Don’t try and do it yourself. We all need help and support in everything we do, and I’ve learned this the hard way after my negative decade. Push yourself to go out and do some networking.

I am shy and reserved and networking is something I’ve struggled with. But I have forced myself to do it over the last few years and it has had a positive impact on me. I need to do more of it in 2022 if I’m serious about becoming a full-time property investor.

Networking will help to get early FI

My target is to be Financially Independent (FI) by the time I’m 45 so I’ve got another 6 years. To do this I need help. I need help from my network. Or I could go back to being a little loner and my chances of early FI will reduce significantly.

I honestly believe that if I do loads of networking in 2022, I will get early FI. My target for this year is to get to 10 rental properties so I need another 3 properties. Not earth shattering but I will be very happy with 10 rentals by the end of the year.

I will buy another 3 rental properties in 2022. This is me having a positive attitude with the I will …

I will try another strategy like SA (Serviced Accommodation) to increase cashflow. I have only focused on single lets to date and am ready to be a little more adventurous to increase cash flow.

Now I am determined to hit all of my goals for 2022. Especially my property goals. I am determined to become a full-time property investor. To do this, I’m going to do much more networking. I fully understand the importance of networking. And again this is probably down to me being a little loner in terms of property investing for over a decade.

I need help from other investors. I need to get around other investors who are full-time property investors and soak up their knowledge. What I have noticed whilst networking is that everyone seems to be helpful. Everyone wants to help each other. It’s a positive environment that I want to be a part of.

If I revert to doing property by myself, I’ll get very average results. I know this because I’ve got the t-shirt. I know that if I get around other investors, I’ll become a full-time property investor within a short space of time. Again this is me with my positivity hat on.

How?

One conversation might give me a lightbulb moment to go out and increase my portfolio. One conversation might lead to investor finance meaning I can go out and do some BRR (Buy Refurbish Refinance) projects. One conversation might lead to a JV (Joint Venture). You get the picture…

After 20 years of experience of investing in property, the most important advice I can offer is to focus on your networking. Go out and get around positive like-minded investors and go and smash your 2022 goals.

By the way, if you want some info on personal finance and investing, you can always read my 1st book. And if you want to read a book all about property, read my 2nd book all about property – The Dormant Landlord

 

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