Sep 02 2024 22 mins 2
Episode Summary
This week's episode dives deep into the value of human interaction in property investing. Nick and Rick discuss how engaging in face-to-face meetings, building a local network of contractors, and talking to people in new investment areas can uncover significant opportunities that online listings might miss. Rick shares personal anecdotes highlighting the success that comes from consistently putting oneself out there and making connections, such as discovering a landlord with a large property portfolio through direct conversation.
The episode also touches on the significance of overcoming impostor syndrome in the industry. Both speakers advocate for taking small, proactive steps to build confidence and expertise. The hosts invite listeners to participate by sending in questions for future Q&A sessions, aiming to create an interactive and engaging community focussed on property investment.
Key Takeaways
- Engage in Networking: Property investing isn't just about scouring online listings like Rightmove. It's about visiting locations, talking to people, and building a local network of contractors and service providers.
- Build a Database of Contacts: Dedicate trips to investment areas to meet local subcontractors, such as roofers and builders. Referrals and face-to-face interactions are invaluable in this business.
- Value of Human Interaction: Relying solely on online information might lead to missed opportunities. Real-life stories underline that talking to people can unearth hidden investment opportunities.
- Hard Work Over Luck: Opportunities in property investing come more from consistent effort and networking rather than luck.
Best Moments
- [00:05:12] - Nick's personal experience: Discovering a landlord with a property portfolio through in-person networking rather than online listings.
- [00:15:43] - Rick's Strategy for Finding a Good Builder: Engaging with builders in investment areas and getting referrals from letting agents.
- [00:27:30] - Buying a portfolio in a pub: Rick shares a story of buying property after a chance conversation in a pub
- [00:35:05] - Remind people of what you do: Continuously talk to people about your involvement in property investing to generate leads and opportunities.
- [00:41:22] - Inviting Listener Participation: Nick invites listeners to send in questions to the podcast via the contact form or voice note on the website.
Do you have questions about property investing? Don’t miss your chance to get them answered in upcoming Q&A sessions! Submit your questions via voice note or the contact form on our website thispropertylife.co.uk. Make sure to follow Caroline on Instagram at carolineclaydon.property for more insights and updates.
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