Where do we find the best people who would make up our team?

In this episode of the Property Magic Podcast, Simon lets us in on the very important question you need to ask when you’re networking so you can build your power team: “Who do you know who…?”

Simple, right? Simon discusses more today on how this question works. Just remember that you can’t just listen to what everyone’s telling you, you still need some understanding on what you need so you can screen the people you hire. So, discover what makes a great mortgage broker, agent, solicitor, builder, and accountant—your future power team—today when you tune in!

KEY TAKEAWAYS

• It’s difficult to make an impression with people. You got to be your best self when approaching them, when talking to them.
• On Simon’s very first property purchase, he didn’t really have a choice who does who for him. He knew nothing on building a team, so he just went with what others suggested.
• And when he went to talk with his bank and told the representative about his plan to rent the property out to university students, it was met with criticism. He was told it was too risky.
• The first person should be a specialist mortgage broker. Someone who’s independent, not connected to any bank, has access to the mortgage market, and also an investor.
  • Note: There are also many property investing strategies available out there that don’t need mortgage.
• Get someone who has more experience than you. You can find the experienced ones through word of mouth, recommendations from your trusted colleagues.
• The second person is a convincing solicitor. Someone who can buy and sell properties for you.
• For Simone, he got stuck in the ‘landlord trap’—he stopped buying properties and put all his time in managing his existing properties. Hire the best agents, so you won’t ever worry about your properties.
• Find the great builders in your area. You can speak with other property investors, agents, or landlords, and ask who can they vouch for.
• Dealing with real estate/property tax isn’t easy. Hire an accountant who specializes on it.

BEST MOMENTS

• “You need to get the right power time around you.”
• “You got to be very careful of people you listen to.”
• “You should plan to have someone manage the properties for you.”

VALUABLE RESOURCES

• House in Multiple Occupation (HMO) - https://www.gov.uk/private-renting/houses-in-multiple-occupation

Article 4 Direction - https://www.gov.uk/guidance/when-is-permission-required

Certificate of Lawfulness - https://www.planningni.gov.uk/index/advice/advice_leaflets/leaflet06/leaflet06_what_is.htm

Property Magic: How to Buy Property Using Other People’s Time, Money and Experience by Simon Zutshi | Amazon

property investor’s network (pin) - pinmeeting.co.uk

ABOUT THE HOST

Simon Zutshi, experienced investor, a successful entrepreneur and best-selling author, is widely recognised as one of the top wealth creation strategists in the UK. Having started to invest in property in 1995 and became financially independent by the age of 32.

Passionate about sharing his experience, Simon founded the property investor’s network (pin) in 2003. pin has since grown to become the largest property networking organisation in the UK, with monthly meetings in 50 cities, designed specifically to provide a supportive, educational and inspirational environment for people like you to network with and learn from other successful investors.

Since 2003, Simon has taught thousands of entrepreneurs and business owners on how to successfully invest in a tax efficient way.  How to create additional streams of income, give them more time to do the things they want to do and build their long-term wealth.

Simon’s book “Property Magic” which is now in its sixth edition, became an instant hit when first released in 2008 and remains an Amazon No 1 best-selling property book.

Simon launched his latest business, www.CrowdProperty.com, in 2014, which is an FCA Regulated peer-to-peer lending platform to facilitate loans between private individuals and property professionals.

CONTACT METHOD

pinmeeting.co.uk

Facebook: http://www.facebook.com/OfficialSimonZutshi

Lindkedin: https://www.linkedin.com/in/simonzutshi/

YouTube: https://www.youtube.com/SimonZutshiOfficial

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Instagram: https://www.instagram.com/simonzutshi/