When you look at your income as a whole how and what should you be allocating where?

Shaz explains how to start tracking and distributing your income in the right way to make a positive difference in your life.

If you follow his advice and make a start on budgeting you will find it quickly becomes a positive habit in your life.

 

KEY TAKEAWAYS

• 60% of your income will go towards your monthly expenditure including around 30% on your mortgage or rent.
• 10%. Must go to capital appreciating assets – your investments.
• 10% needs to be in your ‘rainy day’ fund.
• Plan to put a minimum of 5% in a charity account and give to your charity of choice.
• 10% on your lifelong learning will make your future better.

 

BEST MOMENTS

‘The more good you do the more you get back in return’

‘The more you invest in yourself the better your future will be’

 

VALUABLE RESOURCES

[email protected]

 

ABOUT THE HOST

Shaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.

Shaz is committed to helping business owners build successful businesses. Having conducted over 3,000 business growth consultation he has helped his clients generate millions in additional profits. His purpose is to inspire business owners to build businesses that are hugely profitable and sustainable.

He is a huge advocate of having multiple streams of income. He has written a number of business books and regularly contributes articles to mainstream media outlets.

You can find Shaz on:

•   Facebook
•   LinkedIn
•   Instagram
•   YouTube.

 

 

 

 

 

 

 

 

 

 

 

Shaz explains exactly how to build a power team for your property business and shares great advice based on his own experiences.

Getting the support of a good power team will mean you can create a strong property business that is scalable and save yourself time and money.

You need a power team with the right people and not finding the right team can make everything much more challenging but a good team will make all the difference for you and your property business moving forward.

 

KEY TAKEAWAYS

• If you are new to property then use networking and social media to find recommendations for architects and builders
• You need a good;

-Architect

-Planning consultant

-Deal sourcer

-Solicitor

-Builder

-Letting Agent

• You need a really good property accountant – ideally someone who also invests in property.
• A property accountant who also invests in property will have an in-depth understanding and knowledge of the many complexities in property.

 

BEST MOMENTS

‘It’s extremely important to have a good power team at the start’

‘It will save you lots of time and money’

 

VALUABLE RESOURCES

[email protected]

 

ABOUT THE HOST

Shaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.

Shaz is committed to helping business owners build successful businesses. Having conducted over 3,000 business growth consultation he has helped his clients generate millions in additional profits. His purpose is to inspire business owners to build businesses that are hugely profitable and sustainable.

He is a huge advocate of having multiple streams of income. He has written a number of business books and regularly contributes articles to mainstream media outlets.

You can find Shaz on:

•   Facebook
•   LinkedIn
•   Instagram
•   YouTube.

 

 

 

 

 

Should you invest in a mentor or coach?

This is frequently discussed and in this episode Shaz shares some great reasons as to how a mentor or coach can make a positive difference to your business.

From bringing accountability and challenge to resources and access their connections a mentor or coach can help you get where you want to be and achieve your goals faster.

 

KEY TAKEAWAYS

• Having a fresh pair of eyes can make all the difference, seeing things you can’t see because you are very involved.
• Sometimes you can lose focus on the simple things that make a difference.
• A coach or mentor will ask you questions that will help you to think about your business
• They will challenge you to look at your beliefs and limitations
• Sharing your ideas with a third party like a coach or mentor can help validate your ideas.
• A good coach will motivate you and provide accountability.
• They will share resources and their network with you.
• They will have specialised knowledge that when shared with you will help you to move forward.
• They can help you get to your destination and achieve your goals much faster.

 

BEST MOMENTS

‘It’s the simple stuff that really works’

‘They will help you to look at wider opportunities’

 

VALUABLE RESOURCES

[email protected]

 

ABOUT THE HOST

Shaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.

Shaz is committed to helping business owners build successful businesses. Having conducted over 3,000 business growth consultation he has helped his clients generate millions in additional profits. His purpose is to inspire business owners to build businesses that are hugely profitable and sustainable.

He is a huge advocate of having multiple streams of income. He has written a number of business books and regularly contributes articles to mainstream media outlets.

You can find Shaz on:

•   Facebook
•   LinkedIn
•   Instagram
•   YouTube.

 

 

 

 

One of the most common questions asked by those starting out in property is ‘ I don’t have the funds how can I buy property?’

Shaz answers the question and explains exactly how anyone starting out can buy property without using any of their own money. Follow Shaz’ advice and you will be able to focus on spending your time finding good deals and building your property business.

 

KEY TAKEAWAYS

• Spend time finding a good deal with the right property
• You can look for a joint venture partner to fund the purchase and possibly also fund the refurbishment.
• People with money want to invest because they may not have the time or the know-how to do it themselves.
• You can find investors and joint venture partners through networking and business groups.
• Start talking to people about what you have to offer and the deals you have.
• It’s all about building a relationship so that when the right deal comes along they will want to invest.
• If you get the first deal right they will want to continue to invest with you.
• Often investors will want to invest more once you have worked with them successfully.

 

BEST MOMENTS

‘I used to think it wasn’t possible but then I tried it, I found the deal and someone else funded it’

‘Knock on the right doors and you will find investors and funding’

‘It works you just need to get out there and do it’

 

VALUABLE RESOURCES

[email protected]

 

ABOUT THE HOST

Shaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.

Shaz is committed to helping business owners build successful businesses. Having conducted over 3,000 business growth consultation he has helped his clients generate millions in additional profits. His purpose is to inspire business owners to build businesses that are hugely profitable and sustainable.

He is a huge advocate of having multiple streams of income. He has written a number of business books and regularly contributes articles to mainstream media outlets.

You can find Shaz on:

•   Facebook
•   LinkedIn
•   Instagram
•   YouTube.

 

 

 

 

 

 

 

 

 

 

Shaz reviews the variety of ways you can invest in yourself to further your knowledge and understanding from reading regularly through to being part of Mastermind Groups.

Many people underestimate the importance and impact of personal development on the journey to a successful business but the more progressive thinking you are the more valuable you will be to your customers and clients. So, get started by blocking out time regularly for personal development and follow some of Shaz’ great tips on ways to invest in yourself.

 

KEY TAKEAWAYS

• Reading books have a phenomenal return on the time you invest in them.
• Whatever you read you will take something away from it
• Attending courses shortens your learning curve and is a great opportunity for networking
• Mentoring courses and niche-specific groups will help you to learn from others and ensure your knowledge is up to date.
• Mastermind groups help with accountability and challenging yourself
• One to one coaching and mentoring will bring accountability and help with setting goals
• A good coach will hold you to account.
• Network meeting can help you with exposure for your business and provide great opportunities to make new contacts.
• The more time you spend investing in yourself the better the returns will be.

 

BEST MOMENTS

‘Reading can become your best friend’

‘From every course, I’ve learnt something new’

‘I don’t think I would ever not be part of a mastermind group’

 

VALUABLE RESOURCES

[email protected]

 

ABOUT THE HOST

Shaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.

Shaz is committed to helping business owners build successful businesses. Having conducted over 3,000 business growth consultation he has helped his clients generate millions in additional profits. His purpose is to inspire business owners to build businesses that are hugely profitable and sustainable.

He is a huge advocate of having multiple streams of income. He has written a number of business books and regularly contributes articles to mainstream media outlets.

You can find Shaz on:

•   Facebook
•   LinkedIn
•   Instagram
•   YouTube.

 

 

 

 

 

 

 

 

 

Deciding on your goldmine area, the place you want to focus your attention on for property development is key and there are a range of factors to take into account. Shaz shares what you should consider whilst always understanding that ultimately it’s all about whether the deal works for you and the end value and appeal to others.

To refurbish or redevelop a property as a property developer means you need to also find the right contractors to work with, building a team that you are happy to work with on a regular basis as your business grows.

 

KEY TAKEAWAYS

• You need to decide how far you want to travel.
• When deciding on your goldmine area consider –
• Market demand and purchase prices
• The location, relevant to recreational areas like parks.
• The proximity of schools, bus and train routes and places of worship.
• Other developments being undertaken or planned in the future
• If your projects are in the same area you can use the same contractors
• When contractors are in a local area you can see previous work
• Get testimonials from their previous clients and customers
• Take your time and choose the right contractor because you will potentially be offering regular work.

 

BEST MOMENTS

‘Ultimately it’s all about whether the deal works and the end value’

‘I’d rather have 4or 5 projects in the same area’

‘Having my architect and contractors close by works for me’

 

VALUABLE RESOURCES

[email protected]

 

ABOUT THE HOST

Shaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.

Shaz is committed to helping business owners build successful businesses. Having conducted over 3,000 business growth consultation he has helped his clients generate millions in additional profits. His purpose is to inspire business owners to build businesses that are hugely profitable and sustainable.

He is a huge advocate of having multiple streams of income. He has written a number of business books and regularly contributes articles to mainstream media outlets.

You can find Shaz on:

•   Facebook
•   LinkedIn
•   Instagram
•   YouTube.

 

 

 

 

 

 

 

 

Shaz looks at the question of how to set aside funds to pay yourself first and how to create a sub-account that can be used to fund repairs on your property portfolio.

Paying yourself first at a commercial rate is vital but it’s something people struggle to get right as business owners but if you don’t value yourself who else will value you? 

 

KEY TAKEAWAYS

• It’s extremely important to pay yourself a commercial rate as quickly as possible
• If you don’t value yourself who else will value you?
• Pay yourself first at a commercial rate
• If your business can’t afford to pay you the amount you are worth work out how to move the business forward to a point where it can pay you that figure.
• Its good discipline to have a sub-account with a monthly amount transferred into it monthly for repairs.
• It will help you to become more disciplined.

 

BEST MOMENTS

‘Many people only pay themselves last and at a very low rate’

‘Think about a figure that you are worth’

‘Sub accounts will mean you have clarity over your accounts’

 

VALUABLE RESOURCES

[email protected]

 

ABOUT THE HOST

Shaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.

Shaz is committed to helping business owners build successful businesses. Having conducted over 3,000 business growth consultation he has helped his clients generate millions in additional profits. His purpose is to inspire business owners to build businesses that are hugely profitable and sustainable.

He is a huge advocate of having multiple streams of income. He has written a number of business books and regularly contributes articles to mainstream media outlets.

You can find Shaz on:

•   Facebook
•   LinkedIn
•   Instagram
•   YouTube.

If you are thinking about getting started then this is an episode for you. Shaz explains his favourite strategy – no money down along with tips about what you need to look out for when you are starting out in the property business with your first developments.

There are a range of ways to finance a project from using a bridging company through to working with a joint venture partner – it’s just about finding what’s right for you.

  

KEY TAKEAWAYS

• Don’t underestimate the cost, this is often an issue with those new to development.
• Funding can be arranged through a bridging company and this can be done quickly but the rates are higher.
• Private funders and peer to peer lenders are also options.
• Bridging works well and money is available  at different points of the development.
• You can work with a joint venture partner who may bring expertise, experience and funding.
• For a no money down purchase you source a deal and source someone who has the cash for the purchase and development.
• You can refinance when the development is complete.

 

BEST MOMENTS

‘Make sure you are sensible with numbers and factor in all the other costs and resources required’

‘For no money down, you source a deal’

 

VALUABLE RESOURCES

[email protected]

 

ABOUT THE HOST

Shaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.

Shaz is committed to helping business owners build successful businesses. Having conducted over 3,000 business growth consultation he has helped his clients generate millions in additional profits. His purpose is to inspire business owners to build businesses that are hugely profitable and sustainable.

He is a huge advocate of having multiple streams of income. He has written a number of business books and regularly contributes articles to mainstream media outlets.

You can find Shaz on:

•   Facebook
•   LinkedIn
•   Instagram
•   YouTube.

Many people are fixated on the idea that the only way to grow their business is through attracting more customers but there are many other things you can do and Shaz shares why and how you can use all of them to grow successfully.

Retaining your existing customers is key because it’s far more cost-effective than the marketing required to secure new customers and Shaz explains exactly what you should be doing to increase revenue.

 

KEY TAKEAWAYS

• Review your prices and make sure there is a good margin for you
• Are you communicating to your customers all the services and products available to them?
• By increasing the frequency of purchases or visits by customers you are increasing your income from the client.
• People pay the least amount of attention to retaining customers but it’s more cost-effective to keep an existing customer than the cost of the marketing required to attract a new one.
• Look at systems in place and improve them to stop losing customers.
• Review all your systems and purchases can you purchase at a better price; can you be more efficient?

 

BEST MOMENTS

‘Every business can look at cross-selling to increase income’

‘There can be a range of factors that mean a customer chooses you’

‘Work out how many clients you are losing and fix the leaky bucket’

 

VALUABLE RESOURCES

[email protected]

 

ABOUT THE HOST

Shaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.

Shaz is committed to helping business owners build successful businesses. Having conducted over 3,000 business growth consultation he has helped his clients generate millions in additional profits. His purpose is to inspire business owners to build businesses that are hugely profitable and sustainable.

He is a huge advocate of having multiple streams of income. He has written a number of business books and regularly contributes articles to mainstream media outlets.

You can find Shaz on:

•   Facebook
•   LinkedIn
•   Instagram
•   YouTube.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

In this new series Shaz covers everything you need to know about starting a property portfolio and begins in this episode with looking at - Should you buy and hold or buy, refurbish and sell? Along with great advice and tips about whether the business should be in your own name or you should create a limited company.

Property is a tried and tested way of achieving extra income and there are lots of different strategies but the buy and hold and buy, refurbish and sell are two of the most easily accessible to those who are just starting out so Shaz’s great tips on pros and cons of both strategies are exactly what anyone needs to decide on the right strategy and get started.

 

KEY TAKEAWAYS

• Buy to let is a long-term strategy that is relatively low risk.
• It gives regular cash flow and there is also the advantage of capital appreciation.
• When you have a rental property, there are maintenance costs and wear and tear from tenants.
• Buying and developing has a higher risk when you begin because the amount you add through development is less known.
• If you can buy below market value, add value and can sell quickly you can achieve good returns.
• With buy to sell there are no ongoing costs with tenants but also no regular cash flow.
• Buy to sell is more sensitive to the property market and you will need to build a team that can support you in the refurbishment.
• Buying in your own name means you are subject to section 24.
• Having property in your own name is more flexible but you do have unlimited liability.
• If you have a limited company then you are not personally liable and you only pay corporation tax.
• As a limited company, there is a more restrictive choice of mortgage products.

 

BEST MOMENTS

‘Property is a tried and tested way of achieving extra income’

‘Usually, the buy to let strategy needs to be scaled up to achieve the best returns’

‘It can often take the less experienced developer longer to refurbish than they think it will’

 

VALUABLE RESOURCES

[email protected]

 

ABOUT THE HOST

Shaz Nawaz is a serial entrepreneur; he owns five thriving businesses in diverse sectors.

Shaz is committed to helping business owners build successful businesses. Having conducted over 3,000 business growth consultation he has helped his clients generate millions in additional profits. His purpose is to inspire business owners to build businesses that are hugely profitable and sustainable.

He is a huge advocate of having multiple streams of income. He has written a number of business books and regularly contributes articles to mainstream media outlets.

You can find Shaz on:

•   Facebook
•   LinkedIn
•   Instagram
•   YouTube.