Mike Stenhouse at Inside Property Investing is with Latoya talking about building a property business that means you can pursue your adventures at the same time as maintaining and growing your property business

This is a great insight into what it takes to build a successful team that can work with you flexibly wherever you are in the world

KEY TAKEAWAYS

• A couple of HMOs generate as much as the average UK salary so you don’t have to have a huge portfolio to make it work financially and have a massive impact on your life
• We do a lot of commercial to residential conversions now
• The plan we put in place meant we were able to sail around Europe in our boat and still successfully run our property business
• We’ve worked on creating flexibility for our team, it’s something we could offer that big corporate organisations couldn’t
• The benefit of owning property is the income generation
• When you work together you need to understand each other's motivation
• As a business owner, you need to have balance across your personal and business life to be effective
• Every aspect of your life affects your business
• Setting out your ideal work schedule helps but flexibility needs to be built in
• Any time away from your business has a cost and you need to understand what that is and how you can work around it
• You need to think about property as a business and outsource activities to support the business developing
• Put in place the processes and systems that mean your business runs effectively

BEST MOMENTS

‘HMOs can be very profitable, a minimum of a £1,000 per month pre-tax profit per house’

‘Sometimes we need to step away from our businesses and look after ourselves’

‘Boat life is where it’s at if you want an adventure’

RESOURCES FOR THIS EPISODE

Mike Stenhouse at Inside Property Investing, Check out the links below to learn more about them, their journey and what they are currently doing in property:

https://www.insidepropertyinvesting.com

Check out their FREE HMO training on 13th April 2023: https://insideproperty.kartra.com/page/hmo2023

Instagram: https://www.instagram.com/insidepropertyinvesting/
YouTube: https://www.youtube.com/c/InsidePropertyInvesting
Facebook: https://www.facebook.com/insidepropertyinvesting/

Podcast:- itunes: https://podcasts.apple.com/gb/podcast/the-inside-property-investing-podcast-inspiration/id966611455?app=podcast

- Spotify: https://open.spotify.com/show/3XvUJkQuZBMGhFQl8dGXHI

- GooglePlay:

https://podcasts.google.com/feed/aHR0cHM6Ly9pbnNpZGVwcm9wZXJ0eWludmVzdGluZy5saWJzeW4uY29tL3Jzcw==

Store: https://stan.store/Outsourcing_Your_Property_Business

Facebook page: https://www.facebook.com/outsourcingyourpropertybusiness

Facebook group: https://www.facebook.com/outsourcingyourpropertybusiness

Youtube: https://www.youtube.com/channel/UC8RnL3J1m-bPDhCBtRisuVQ

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

Tiktok: https://www.tiktok.com/@outsource_your_prop_biz

ABOUT THE HOST

Latoya McDonald started her property career in her teens as a Real Estate agent before relocating from New Zealand to England in 2011.

In 2012, she started Harcourt White, a lettings and property management company based in Cornwall. With a keen interest in HMO, local property investment, and systems and procedures, Latoya is passionate about coaching like-minded property investors to get the most out of their businesses while maintaining a healthy work/life balance.

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