What school didn’t teach you!

Was school this much fun?

When I was at secondary school it has to be said that if they’d done ‘A’ levels in Boys, Parties and Nightclubs, I would have got three A*s. Unfortunately they didn’t, so I didn’t get those results either. In fact I really spectacularly failed to achieve what I was capable of in the subjects I chose which were English, Biology and French.

Why was this? Well I wasn’t really interested in them. I had better things to do with my time! I saw little purpose in them long-term and they were mostly theoretical.

I think many people who become property investors have had similar experiences to me, and find themselves having a hard time breaking through the belief that they are not clever enough, not good enough or not talented enough to do property. I wrestled with that too. Until I realised that education in the property world is very different.

For a start it requires you to take RISKS. There is no certainty that you will get the outcome you want. In fact you need to have the mindset of growth and learning at all times to manage this fear of failure. Secondly it takes COURAGE – you  have to put your money, your time, even your reputation on the line. People may scoff, ridicule or undermine you and you have to find the courage to believe in yourself. Thirdly you have to take practical ACTION. Theory is all very well but until you put your learning on the line, you will never become a real investor.

In fact, in contrast to what you learn at school, property requires COLLABORATION not competition, and there are no tests to pass except the ones you set yourself. It is about intrinsic not external motivation, and there is no-one who will judge your achievements based on a set of rules. So that should make us all really motivated to do property right?!

WRONG! Because our ‘school mindset’ is so deeply embedded within us, it’s really hard to let go of it! Having the right mindset and the right skillset is VITAL so that you do not get upset (as one of my mentors once taught me).

I know that if you are interested in HMOs (Houses of Multiple Occupation) as a way of making £1000 profit per property per month, you will probably have lots of questions and rightly so! You need to be educated to make this strategy work for you. But you need to be educated RIGHT by someone who has done it and got the experience.

I started to invest in HMOs just over 5 years ago, and after just 2 and a half years set myself and my husband free from our day jobs! YAAY! We have over 100 HMO rooms now and it gives us the income to do what WE want with our time, not what someone else tells us to do!

Which is why on SATURDAY 21ST JULY IN LONDON I will be spending time on YOUR mindset AND your skillset! That’s if you will let me ….

www.hmoprofitsecrets.co.uk

is coming to LONDON on 21st July. The workshop is completely FREE to attend and you can choose a morning or an afternoon session.

Not only will you learn exactly how to invest in HMOs – how to find them, plan them out and make them work efficiently, you will also learn how to have the right MINDSET to attract investors, to grow your business and to become financially free.

BOOK HERE!

If you are SCARED, SLOW OR STUCK then you need this event to help you become BRISK, BOLD AND BRAVE!

I look forward to seeing you there – tickets are limited so please make sure you reserve your space immediately to ensure you get a seat!

To your HMO success

Wendy

Feeling SLOW, STUCK or SCARED ?

If you are feeling like you are going really slowly in your business, or maybe your property portfolio is just not taking off as you wanted it to, or perhaps other areas of your life feel like they are dragging the very life and soul out of you, I’d like to give you some help. I can understand the frustration and energy-sapping feeling that you *could* go so much faster, if a certain problem wasn’t in your way or such-and-such a thing worked better. Know what I mean? Internally we often blame other people, our circumstances or our background. But actually the reason we are going slowly is down to our own perceptions and thoughts, not because of THINGS or PEOPLE or CIRCUMSTANCES.

How can you regain momentum and pace if you feel you are going just TOO slowly?

  1. Write down the 5 steps (or more) that you need to do to make your goal a reality. If it’s to become financially free, then write down the incremental steps that will get you there, and focus on each one, one at a time. Don’t fall into the temptation of looking too far ahead, or dreaming about how it will feel when you get all the five steps completed. Simply work at each step one at a time, do what’s needed to complete that step,  and lo and behold, financial freedom will follow.
  2. Say NO to everything that is not vital for the achievement of your goals. Be RADICAL MAN! DELETE everything in your diary that doesn’t contribute to to a step in the plan to achieve what you want to do. Your daily habits, tasks, behaviours sow seeds in all areas of your life. If those activities are not helping you make DAILY progress towards your goals let them go. You need to commit to an additional 35% of your time per week to get your business from tickover to take off. If you don’t say no to current things, where are you gonna find the time to insert new, important things into your life?
  3. Carve out the time to make what you wanna happen, happen. It won’t happen by magic. You have to decide how much time to give it, write it down and DO It. If it means getting up an hour earlier, going to bed an hour later or ditching TV twice a week – make time – carve this out, and within a fortnight you will start to see a massive difference in your pace.

Finally, I believe that speaking out your goals and declaring them to the world will affirm your message and your mission like nothing else will! Shout it out! Tell the world what you’re gonna be and do. Get behind your own message with powerful words and affirmations and the  momentum will accelerate exponentially!

Stuck

If you’re stuck you simply do not know where to turn or what to do. The first piece of advice I’d give is that LISTENING to others is the key to unlocking being stuck.

 

  1. Talk to 20 people who are doing or have done what you are trying to do and get their advice and guidance. Listen with humility and gratitude. Hear what other people say, listen and listen again.  Record the conversation – listen to yourself and listen to others, and KEEP LISTENING.
  2. Try some brand new education such as investing in some quality coaching, an online learning programme, or some relevant mentoring.
  3. In my experience being stuck is caused by refusal to take a risk. What are you running away from? What area of your life do you need to stop ignoring and start paying attention to? Where are you fleeing the fear?

Scared

Feeling scared when trying something new is a perfectly normal reaction! It is nature’s way of protecting us from harm.  But when fear makes you scared to do take action, you need to address it fast. FEAR stands for False Expectations Appearing Real. In our minds we tend to exaggerate worst-possible outcomes in order to prepare our minds for action. Mostly this just causes procrastination, doubt and more fear!

Three suggestions to overcome fear:

  1. Read ‘Feal the Fear and Do it Anyway’ By Susan Jeffers – a great little book with reasons why we fear and the practices we can habitualise to overcome our fear.
  2. Write down 50 reasons why you need to do the very thing you are fearful of.
  3. Write down all the reasons your fear will HELP you. Will it make you more alert to danger, will it help you determine project risks, will it make you create a Plan B in case things go wrong? Make fear your friend, not your enemy and use its power to help you overcome your challenges.

Fear is feelings based. So to overcome it we can look deep within ourselves to understand why am I feeling this way, or to ask ourselves when have I felt this way before, and how can I change my feelings about this thing.

Slow – SHOUT IT OUT AND AFFIRM YOUR LIFE

Stuck – LISTEN TO OTHERS AND TAKE A RISK

Scared – FEEL THE FEELING AND MAKE IT YOUR FRIEND.

37258529 – woman is feeling confusion and chaos. indecisive, disoriented and bewildered woman with headache over decision making.

Let me know how you get on applying these lessons!

 

To your growth

Wendy

wendywl.uk

For a FREE 30 minute call with Wendy to help unblock your progress – simply book a session here https://10to8.com/book/fwfozt-free/

 

52 Week Video Series – Week 5 – The Four Ps!

Do you REALLY know how to make customers return to you time and again? What are the four Ps that make them use YOUR services/ and business more than anyone else’s?

 

 

 

I look forward to hearing how you get on increasing your business by using these four Ps!

Have you seen the light?

Have you seen the light yet?
I could make a clever comment about how you can get great returns on HMOs compared to single buy to lets and how I think they are the best thing since sliced bread … and you wouldn’t be surprised or shocked would you?

 

You KNOW how I love the fact that there are many types of HMO, there are many reasons to invest in HMOs and there are many investors who have HMOs as just one of the many strategies they use.

But whether or not you have seen ‘the light’ about investing – have you seen the light?

That is to say, how you can use lighting effectively in your HMOs to make them safe, comfortable, welcome and just a little bit different. Here are some ideas that you could copy and which will help you save time and money…
1) Choose emergency lighting in the hallway that is low energy and has a PIR function so that the lights never need to be switched on or off. We have found that this keeps the hallway lit when needed and saves loads of electricity.
2) Fit the glitziest and most reflective pendant lampshades in bedrooms when you don’t want to install downlighters. These bring instant bling and extra reflective qualities to shine the light round the room.
3) Bedside lights always brighten a room – Dunelm Mill, Asda and The Range do a good assortment.
4) Where you do use downlighters (kitchens or dining rooms) make sure you fit warm, low energy GU10s, or you’ll be costing the earth when it comes to power.

 

I hope this helps you ‘see the light’ and makes your HMOs stand out as being the lightest, warmest and most delightful place for a person to call home!

Goals, Plans and Exponential Growth!

However BIG our goals are, if we don’t have a plan to achieve them, it is highly unlikely we’ll succeed. And if we don’t persist in them, we’ll never reap the rewards of our early investment.plan

I would like to share with you some thoughts and reflections I have had on WHY we don’t achieve our goals and HOW to ensure we do.

 

  • Know your reason WHY.

You decided have decided to invest in property to succeed! To create £5k, £10k or even more in passive income per month. Maybe so you could replace your job, your partner’s job, or to give yourself another income stream. It might have been to provide income for your retirement, or capital for your children’s future. Do you know what it is, and have you set this out where you can see it daily? What about a vision board to remind you of your reasons why?

  • Set a MEASURABLE income figure as your initial goal.

Whatever your reason WHY, you will have set yourself a goal in terms of a monthly FIGURE to achieve. This is the first obstacle to achievement that I see with a lot of people. They don’t set a NET INCOME figure that is easy to measure. Unless you set a goal that is CLEAR and measurable, how do you know if (and when) you have achieved it? If you don’t already track your net income, this needs to be one of your first actions to complete.

  • Set yourself a deadline to get to your first goal.

With no fixed income goal and no deadline, there is no point just being ACTIVE. Some people confuse ACTION with ACHIEVEMENT. Yes, you need to take massive action, but not if that is chasing your tail doing things that waste your time and are irrelevant to your goal. What are the key activities that will make you the most money in the shortest amount of time? Answer this question with truth and honesty and you are on the first very big step to making a shed more money immediately!

  • ASSESS where you are now and how far away you are from your goal.

If you’re currently achieving £1000 per month in passive income from property, and you want to get to £5k per month, the next step to identify is to agree how long you are going to give yourself to achieve another £4k per month.. This is often the hardest step to estimate as it may have taken you many years to get to £1000 net profit per month. Getting 5 times that amount may seem insurmountable! However, if you persist in taking action, and keep pushing forward you’ll experience EXPONENTIAL growth.

  • Write out a PLAN of action.

HOW will you achieve your goal of an additional £4k per month – will it be by doing 4 HMOs each giving you £1k. Or 10 mini HMOs giving you £500 per month (or maybe a Joint Venture with another investor). What will you do each month? What will you do each week? What will you do each day? I use the Darren Hardy materials to keep me clear and focused. However, I limit myself to focusing on three goals at a time which makes me much more focused and much more accountable! Ensure that your actions relate to your goals and stay focused on achieving them.

  • Remember the law of exponential growth.

Exponential growth is one of the most powerful principles in the universe. Having an intimate understanding of how it works can make you a master of money and success. On the most basic level, the principle states that the bigger something is, the faster it grows. So as you get bigger, the faster you will be able to implement and grow.

  • Stay accountable.

I recommend the Darren Hardy plan as an excellent tool for tracking your activity and progress. Only by doing this regularly, with discipline and focus will you get to your goal. I believe YOU can do it. But you need to believe that too, really believe it. For only then will you take the massive steps needed to achieve it.

 

To your growth!

Too busy to systemise your business? Or maybe you are scared of the cost of it?

Busy deskIt was a cold, rainy day – the kind of rain that drips over your nose and down your clothes and makes you sopping wet even before you’ve stepped outside. You know the kind I mean. A fairly typical summer’s day in England!

I was sitting in our home office, when Andy walked in, cup of coffee in hand. As he sat down, I glanced across at his desk. The contrast between his desk and mine was stark. Mine – covered in all sorts of paper documents – bills, mortgage statements, letters, post-it notes of to-dos that hadn’t been done and should have been done last Friday. His – a monitor, wireless keyboard, mouse and speakers. No paper, no mess, no distraction.

He sat down and put his wireless headphones on, and I started to hear the muted ‘thud, thud’ of The Gorillaz latest album. I muttered under my breath ‘GEEK’ .. and proceeded to wade through the paper on my desk, deciding the quickest way to deal with the pile was to push it all onto the floor and use it as a new form of carpet tiles. At least that way I didn’t have to look at it. And my desk was then as clear as my darling nerdy husband’s.

‘Do you have the mortgage offer for Gainsborough Road somewhere?’’ Andy asked as he moved one earpiece to hear my response.

‘Um, yes, er, definitely, I saw it this morning’ I said, knowing that it was definitely here, somewhere. The only thing was which foot was it under?

After a search of about 10 minutes I enthusiastically pulled it out from underneath the pile and placed it ceremonially on top of his keyboard.

‘Wendy we need to talk’, Andy turned to me with a serious look on his face.

‘Oh, is the offer not what you hoped for?’ I replied.

‘No, it’s not that’ he said.

‘Ah so is it that we need to buy more coffee when we’re out?’

‘No, we’re fine for coffee.’

‘So what’s bothering you babe?’ I prodded.

‘Well, you know I love you very much Wendy, but there is one thing that is starting to drive me crazy’ he said.

‘Well I know I have that effect on a lot of people’ I said, with a cheeky grin. ‘What’s the matter babe?’’

He took a deep breath, and looked me straight in the eyes, ‘the truth is, unless we sort out our systems, this office and all this paper we simply will not be able to scale up. Your desk is a tip, you can never find where anything is and you are wasting not only your own time but mine too’.

I sat in my chair, feeling totally deflated. I had worked so hard to create a portfolio of HMOs that had given us financial freedom. We now had a regular passive income of £6k per month. The last three years had been nothing but hard work and I had the evidence to show that taking massive action, managing risks that many other people wouldn’t have the courage to do, and using other people’s money could create financial freedom. I had left my job and wound down my other business to focus on this one. Andy had also been able to leave his well-paid role as a contractor.

We were supposed to be happy.

But right now, at this point in time, the last thing I was was happy. I felt annoyed at myself, annoyed at him, and annoyed with the business.

The thing is I realised that Andy was right. Deep down, I absolutely KNEW that my entrepreneurial skills were great when it came to new ideas, growth, and creating income. But on the other hand, creating a system that someone else could pick up and use and freeing up my side of the office from all that paper that I had grown to know and love – well that was NOT within my gift.

I knew I had to change, I knew the business had to change and I knew that the only answer was to systemise.

So over the next 12 weeks, Andy and I set about looking at ways that we could create a leaner, more automated, systematic and ultimately leveraged business. We wanted to employ staff, or outsource the things we didn’t like doing. But to do this we had to start moving our erratic business practices onto a much better platform.

RESULTS

Immediately we began to notice a difference. First in the time we had. We had much more of it! The little jobs, the things that I would have had to write on a post-it note and stick on the edge of my monitor just to remember them, were gone. They were contained within a system. As long as I remembered to go to the appropriate tool, I could find exactly what I wanted when I wanted it.

Soon, this impacted our profits. We had more time so we had more time to do better deals, and more deals, and find more investment. In fact in that year alone we raised over £500,000 for further HMO projects. We bought another 9 properties, and added another £3,700 to our monthly income. There was no way we could have done that if we had been stuck behind our screens or on our phones managing refurbs, tenants or payments.

Our quality of life started to improve as we had more time to exercise, to do more with our family and to R-E-L-A-X.

This was all because we had systems.

Then the best part began as we realised that with the systems we had implemented, we could create a team to manage our properties, with marginal involvement from us. So we began to recruit – first a Lettings Manager who would run the lettings side of the business, then an Operations Manager who would run the day to day aspects of the business. This then, in turn, freed up mine and Andy’s time to do other deals and to speak with investors and to pursue some of our other passions.

So HOW EXACTLY did we do this?

In systemising our business, we both agreed that the key principles we needed in a system were that it had to be

  • Simple
  • Scalable
  • Shareable
  • Suitable
  • Secure

What were the tools that we needed and how would we decide?

We realised that the process would be a three-step process. First we had to SCOPE the business and decide how to breakdown each area, then we had to SPECIFY what our business did in each of these areas, then we had to SYSTEMISE. Most of all it had to be LOW-COST or NO-COST so that we could free up our time without taking up all of our profits.

Although I can happily use a computer and mobile phone, I am not the most technical person in the world so our system had to be easy to learn and implement. The last thing I wanted was anything that needed multiple log-ins or a computer science degree to operate.

After a few weeks of searching and analysis, Andy suddenly rose up one day from his computer chair and shouted ‘Eureka’! I’ve found the exact tool that will work to help us

  • Find properties
  • Fund projects
  • Finish refurbs
  • Find Tenants
  • Future-Proof our portfolio

And that tool is…. ? If you’d like to know EXACTLY what that tool was and HOW we used it to run and grow our business (and still do to this day) and how YOU can too ….
Click here to find out more

To your success!

Wendy

52-week video series – Week 2 Planning – Fail to plan, plan to fail!

Welcome to week 2 of my video series! (Watch week 1 HERE.)

This video addresses the subject of planning!! Watch now for hints and tips on how to plan for success in the year ahead!

 

 

Not the most exciting of subjects but it’s a must for a successful business! Share how you plan for success below!