I decided to go “all in” with my property
investment business when I started it.
I truly believe that this has resulted in
getting me to where I am today.
Now I have true freedom through my property
If I want to spend 6 months of the year in
another country I can do that (I do this often).
So what do I mean by “all in”?
Well you may have heard this term
associated with the famous Texas Holdem Poker game.
A player believes that they have a winning
hand so they put all of their chips or cash in as a bet.
They go all in.
Business people have been using this term
for a number of years now. It means “everything or nothing”. Your property
investment business is everything to you. Achieving your goals and developing
your portfolio is what you are all about.
So are you prepared to go all in with your
A lot of startup businesses fail all across
the world. For some it is a case of the market not being ready or the market not
being large enough to allow the business to grow.
But in some cases it is because the owner
or founder didn’t go all in.
They didn’t live, eat and sleep their
business. They didn’t do everything that they could to make it a success.
I want to share with you today what going
all in means for a property investment business owner.
have to make Sacrifices
When you start any new business you need
money. You need money to invest and money to live on while you wait for your
investments to bear fruit. If you have some expensive habits then you need to
cut these out of your life until you make it. Succeeding with your property
investment business is more important than anything else.
I was fortunate that I sold another
business that I had developed to fund my property investment business. But that
doesn’t mean that I haven’t made sacrifices. I used to watch every penny when I
started as nothing was more important to me than building a successful property
I hardly went out at all and only used my
car when it was absolutely necessary to save petrol. I resorted to basic living
at home and cut out going to expensive restaurants. There are a number of
things that you can probably do too to find extra cash for your property
I know other people in this game that sold
their houses, their cars, cashed in life insurance policies and sold shares so
that they could fund their dream of creating a successful property investment
business. Are you willing to do these kinds of things to be successful? You need
to be otherwise it is going to be a tough road for you.
Downsizing from an expensive luxury car to
an older, more frugal, run around is not an easy change to make. Selling your
home and renting lower quality accommodation is even harder to do. But if you
need to do these things to free up some capital then so be it. This is going
How much time are you willing to dedicate
to your property investment business? Do you have a partner and a family? Have
you sat down with them and explained that you are not going to be around as
much as you were before?
Time is something that you can’t get back.
It doesn’t matter how much money you have if you don’t have enough time to make
your property investment plans happen then you won’t be successful.
There is always a ton of things to do when
you are a property investor. You should always be on the lookout for new
opportunities and keeping abreast of the trends in your chosen locations. If
you have acquired a property and it needs renovation then you need to be around
to supervise contractors and get stuck in and help so that you keep your costs
The world of property investing changes all
of the time. You need to stay on top of everything by attending seminars,
reading books and websites and topping up your training. This all takes up your
precious time. Dedicating the maximum amount of time to your property
investment business is going all in.
At this point you might think that this
conflicts with the very idea of this blog. Surely you want to have more time to
do the things that you want to do by getting involved in property investment?
Yes that is the ultimate aim. You want to be where I am now which is having a
very successful business which runs on autopilot (well almost).
But it took me a while to get to this
point. When I first started out I was spending every waking hour, 7 days a
week, on my property investment business. As I became more successful I was
able to employ people one by one and train them to do the things that I used to
Then I systemised everything so that all of
the employees had their specific tasks every day. I took my business to the
point that it runs well even if I am not there. This took time and money to
achieve. To start with you need to put in a lot of your precious time.
need to take Calculated Risks
If you want to succeed in any business you
need to be prepared to take risks so that you can grow. This definitely applies
to property investment. If you want to create a portfolio of buy to let properties
then you will need to take calculated risks to achieve this.
You need to be committed to reinvesting
your profits. When you start making money it can be very tempting to spend some
of it on other things that you really don’t need. People that go all in with
their property investment businesses reinvest everything into the next project.
You need to do the same.
The term “calculated risks” is very
important here. I have been in situations where I was really serious about
investing in a specific property and others were telling me not to do it. These
were colleagues and others in the business that I considered experts. They were
concerned about the level of renovation required for example.
But I had done all of my homework and
decided to go for it. I knew that the property had the potential to make me a
very good return. So I went ahead anyway despite all of the resistance I was
getting from others. I worked hard on the project and achieved the returns I
was looking for. I took a calculated risk.
I have told you before that I made some
mistakes in my business and it is very likely that you will do this too. A good
friend of mine recommended that I invest in some properties in an area I wasn’t
familiar with. I took him at his word rather than research the risk properly.
This was not a calculated risk – it was on a whim because I trusted the person.
This taught me a very valuable lesson. You
must check everything and then check it again and satisfy yourself that the
risk is worth taking. If you do this then most of the time you will be right.
Property investment by its very nature is
risky. House prices fluctuate and so do rental prices. The government can
implement changes which make achieving the returns that you want so much
harder. So you need to know your numbers and research until you drop. Even then
you can never be 100% sure.
It is better to take calculated risks than
no risks at all. Once you become experienced as a property investor then you
will know if a project feels right or not. If it doesn’t feel right then don’t
spend any time on it – just move on. If it does feel right then research
everything and calculate all of the possibilities.
a Winning Team
People that go all in with their property
investment businesses have the best possible team supporting them. These people
are worth paying extra for because you know that they are reliable and will do
a great job.
With most of the properties I invest in
there is always a degree of renovation work to do. Take a look at my recent
post about adding value to a property. If you don’t have the skills, the time
or the inclination to do this work yourself then you will need good contractors
that you can rely on. The kind of contractors that will actually turn up on
time and stay on the job until it is finished to your satisfaction.
These people are rare but they do exist.
Pay them extra if you need to. It will be worth it. When you find contractors
that have these qualities look after them and don’t let them go. The same goes
for mortgage brokers, solicitors, estate agents, letting agents and everyone
else that you need to work with to complete your projects successfully.
need to take Massive Action to go All In
There is a huge difference between being
busy and taking massive action. Anyone can make themselves busy but not take
that much action. Where do you stand on this? A lot of new property investors
find that they take on so much themselves that they never have enough hours in
They are doing everything from finding new
property deals, participating in renovation work, keeping up with their
accounts and fixing problems on their website. If you are in this situation
then you need to get some help. You can’t take massive action if you don’t have
the time available.
I understand that money can be tight when
you are first starting out. It was for me. But I soon learned that I was not
getting any nearer to my property investment goals because I wasn’t taking
enough action. This all changed when I got other people involved in the
Spending several hours fixing problems with
my website was certainly not getting me any closer to my goals. I had the
skills to do this so I thought I would save money doing it myself. I soon
learned to outsource tasks like this. For a few pounds I could get someone else
to fix the problems while I took action in my business.
Going all in with your property investment
business is not the same as doing this with a poker game. If you lose a hand at
poker going all in then you are out of the game. But you can keep going all in
with property investment even if you make mistakes.
You have an endless supply of chips in the
form of your persistence, your energy levels, your mindset, the actions that
you take and your creativity. These chips don’t run out if you lose a hand. The
only time that you will run out of chips is if you give up. And that is not an
option for a property investor prepared to go all in.
cannot afford not to go All In
If you don’t go all in with your property
investment then your business will contract, shrivel up and die. You are not
going to achieve freedom through property investment with a single buy to let
property that you rent out to a nice family. This will just bring you in a bit
of extra income and nothing else.
The thought of continually expanding your
property investment business may scare you. But when you go all in and you keep
expanding then you will quickly rise above all the rest. It goes without saying
that you need to manage this properly and be on top of everything. But the rewards
of going all in are certainly worth it.