The Property Unleashed Podcast

Stop Chasing Strategies, Start Building Foundations

• Mark Fitzgerald • Episode 334

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Success in property investing requires focusing on personal growth, not just the workload. We must be patient and understand that building a property business takes time, not days or months.

• Focus on the benefits and growth opportunities, not just the work
• Push yourself out of your comfort zone by networking and making cold calls
• Expect and accept disappointments as part of the journey
• Journal your key learnings to track growth and create a valuable resource
• Schedule tasks and hold yourself accountable
• Don't chase happiness in future success - enjoy the present journey
• Avoid constantly changing strategies - give yourself time to see results
• Consider part-time work if needed while building your property business
• You need some capital for compliance, marketing and property expenses

If you need support, check out our new community at Education2Action.com where you can access in-depth training on different property strategies and implementation support through live coaching sessions.


VALUABLE RESOURCES:

  • My NEW Community for property investors called Property Education To Action, This is the best place to achieve your property goals and build the life you desire. https://educationtoaction.com



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Speaker 1:

Tired of not getting the results you want. You're thinking about this all wrong. Hello and welcome to the Property Unleashed, sponsored by ETA, your roadmap to property investing success. My name's Mark Fitzgerald. It's great to have you joining me here today. Property Investing Success. My name's Mark Fitzgerald. It's great to have you joining me here today.

Speaker 1:

So what do I mean by? If you're not getting the results that you want, or things are being very, very slow for you and progress is very, very limited, how can we help you with all of that? Well, what I will say is, when I was very, very early on in my property investing journey, you're looking at the bigger picture, you set all of these lofty goals and you are ready to go out there and you are ready to take action. But for things to happen in life, for things to happen and be successful in business as well, it is going to take time. Now, I do say that time you should look at and use as your friend, because you need time to work on your side. If you are in a hurry and in a rush to try and get everything sorted and up and running within a matter of days, months or something like that, then chances are you're going to be rather disappointed. Now, what I have learned in that time and I didn't really learn this until I was a couple of years in is it's great to focus on the benefits that you're heading towards, not the work that you need to do, the work you still need to plan in and you need to get it done. But a lot of the times we focus so much on the work that we need to be doing to get the results that we don't. We don't actually focus on the benefits of us growing as individuals as we're doing this, the benefits of how it's going to help our lives, how it's going to help, basically, our bank balance as well. We focus on the work, we focus on the doing and, of course, if you're not getting the results that you want, that can be very disheartening. It can also set you back as well. Why? Because eventually, you start to think it won't work.

Speaker 1:

I need to start trying to do something else, and that's a very dangerous game to play. If you start looking at different strategies all the time, ping-ponging around trying to try different things, chances are you end up getting confused, you get demoralized and then you go off and you try to do something else. If you're hell-bent in building a property portfolio or a property business, like I have, then you need to make sure that you're focusing on why you're doing it and the benefits of learning new strategies and, of course, getting out there. And what do I mean by that? Well, let's just say you're getting out there, you're starting to meet new people, you're networking. You've never really networked before. You've certainly never picked up the phone and started calling agents, cold calling companies, to see if you can do deals or if they've got property deals for you. All of a sudden, as a person, you are growing. You are getting out there, you're meeting new people, you're facing some fears, some apprehensions that you have, and you're stepping past those. So you are growing as an individual and those are the benefits that can help you the rest of your life, and a lot of the time we don't even notice it.

Speaker 1:

So when I started out and when I started getting out there, I was talking to people. I felt like I was a fraud because I didn't have any property deals. Obviously, I felt like I was a fraud because I didn't have any property deals. Obviously, starting out, all I had, all I'd actually done, was bought my own house. I was talking to these investors, I was talking to these landlords with lots and lots of properties that were making lots and lots of money and for me, I really had to push myself out of my own comfort zone to um, not only achieve the results that I wanted to achieve, but also getting out of my own way. It had been very easy for me, particularly at the first networking event I went to. I stayed for a little bit afterwards, but I didn't probably stay as long as I should have, as long as I would now, which is, I work the room afterwards now and I try and get the maximum I can out of the room and out of the networks and everything, because I'm there. I've spent the time to be there, but at the time I didn't.

Speaker 1:

But it was a big, big push for me just to go and turn up at one of these events and of course, you forget this as you're going along your property journey. You know the cold calling that you've been doing that's finally got those deals over the line or got you the results that you want. There are so many great benefits of you learning more, educating you more, rather than just thinking about all of the work hard graph and, potentially, disappointments that you have along the way. You will have disappointments along the way. Things will not be smooth running, things will go wrong, you will lose a bit of money here or there, you will do maybe a deal that's not as good as you wanted, or somebody will let you down and pull out. Those things will all happen and they are all part and parcel of the journey.

Speaker 1:

It's not just easy street. Here we go happy days, find a deal and then watch the cashflow coming through, and if anybody tells you it is, then they're lying to you. We can sometimes dream about it. It's not as bad as it sounds, but it is gonna be a challenge. It is gonna be work and it is gonna take time, but it is going to be a challenge. It is going to be work and it is going to take time. But don't focus on the work. Know the work that you need to do. Try and get those bits and bobs done, those tasks as I always like to set out each and every day. Have those tasks ready to be able to push forward, to be able to build your property, investing business and, of course, focus on the person that you're becoming.

Speaker 1:

Make sure that you're journaling, you're taking notes. What have I learned today? I like to learn in my journal, so I write down key learnings. It may be from a book, it may be from a podcast, it may be just from something that I've seen or heard or listened to, but I write those down. Why? Because they are key learnings that I can go back and I can learn from time and time again. And not only that so can my kids now they can read my journals and they will get learnings from those journals Mistakes that I've made, things not to do and all of those sorts of things.

Speaker 1:

So make sure that you're focusing on the benefits of the person that's growing and, of course, how you're getting out there as well, not always on the workload that you need to be doing. And if you're a very, very busy person, which most of us are in this day and age, do make sure that you're scheduling everything in to get it done in a timely manner. You want to make sure that if you need to make those phone calls, they're scheduled, they're in your diary and you're going to make those phone calls and make sure that you hold yourself accountable to the tasks that you have. But again, like I say, focus on the benefits, focus on what your life's going to be like and start trying to live that life. Because when I started out I thought I'll be happy when I'll be happy when I've got X amount of thousands coming in each month. I'll be happy when I don't have to turn up to my day job anymore. I'll be happy when I have this. I have that. Trust me, if you are not happy now, you will not be any happier. You might have less worries. Money can obviously bring you less worries. It can bring you security. But enjoy the journey.

Speaker 1:

Very early on was in such a hurry that I never really focused on the benefits. I never really focused on the person I was becoming and I had to stop at one point I was about 18 months in and really start working on myself so that I could become a happier person in what I was doing. So by looking at the person you're growing into, then you can focus on being that person. I want to be the best father, the best property investor, best business owner and I want to be the fittest and healthiest I can be. Those are the four things that I'm always working on to improve on and of course, I know that if I am focused on those, if I am hitting my tasks that I set myself and challenge myself, then I'm creating the life that I desire. So it's great to see a lot of people out there doing well, but it also breaks my heart when I see a lot of people out there flittering around thinking that the next best training or the next big idea is going to be the answer. And chances are because they haven't got those foundations in place to just get out there, focus on the benefits rather than the work and keep going. They don't give themselves long enough to actually get the there. Focus on the benefits rather than the work and keep going. They don't give themselves long enough to actually get the results that they want. And that's the other thing.

Speaker 1:

When I was talking about time, you need to be making sure that you don't expect everything to happen right here, right now. If you are struggling to survive and you're trying to get into property to help you survive, you need to maybe look at having a part-time job. That's what I would have done. I was quite lucky by the time I was looking at getting quite low on money. I already had a good few deals there. So I didn't have to do that. But what I would have done is if I hadn't after I took voluntary redundancy if I'd have run out of money, I would have gone and got a job part-time job but I would have continued to do the property investing alongside it as well.

Speaker 1:

You will need some money to get deals and do things. Whether it's deal sourcing, you're going to need to be compliant. You're going to need to pay money for that. Whether it's doing rent to rent, you might need to put a little bit of money into a property. I'm not talking about thousands, a couple of hundred quid, but you'll need money for marketing and things. You don't need thousands and thousands to do all of this, but you do need a little bit of money. So make sure that you have got that gap plugged as well.

Speaker 1:

If you need any help or support with this, we do have a new community, which you've probably heard me talk about. I am going to do an episode on it as well, called Education to Action Property Education to Action. So it really gives you the foundations to learn all the different property strategies deal sourcing, rent to rent, service accommodation, hmos All of the different trainings in-depth trainings are in there that you can access straight away so you can see which strategies are right for you and then as a community, we can help you then implement what you're doing for our live coaching sessions, our community support, and it really is about taking the education that you have and putting it into action. So if you're interested in that, check out education2actioncom and I'll see you in the next episode. Take care. Bye for now.