TPP158: 5 things we did to become better property investors

Successful property investing involves setting up effective systems and teams to enable flexibility and remote work, as Rob D and Rob H shared in this episode of The Property Podcast. While discussing their personal experiences, they highlighted the importance of planning and preparation to make working from exotic locations possible. Additionally, they touched upon the recent UK budget, mentioning the unfavorable news for property investors regarding capital gains tax. Despite this, they encouraged investors to explore alternative structures like company ownership to mitigate the impact. Overall, their conversation emphasized the significance of strategic planning and adaptability in property investing.

The recent budget announcement brought some changes, but they were not as harsh as expected, especially for those moving into a company. The stamp duty surcharge, which was originally intended to apply to larger-scale investors, will now apply to everyone across the board. However, the overall impact of the budget on property investment was relatively minor. On a positive note, we have some exciting news to share. The Property Investor Show, the biggest property show in the UK, has invited us to exhibit and make an impact. Rob and I will be there both days, and we'll be joined by many meetup leaders from around the country. On the Friday, we'll be interviewing different people throughout the day, and on the Saturday, we have two major events planned. In the evening, we'll be hosting what's likely to be our biggest meetup ever, and during the afternoon, we'll be recording the podcast live on stage at the Property Investor Show. This is a first for us, and we're looking forward to the experience. Overall, despite the recent budget announcement, there's still plenty to look forward to in the world of property investment.

The Property Hub is hosting a free event, The Property Investor Show, which includes a live podcast recording, meetup, and the Property Investors Show itself. The live podcast recording is limited to 150 advanced tickets, so it's encouraged to secure a spot as soon as possible through the property hub.net/show website. The event is a great opportunity to learn from Rob and Simon in person, as they'll be making their first-ever live podcast appearance. Additionally, the speakers at the show will share insights on becoming better property investors, a topic that requires making significant decisions and gaining experience over time. It's an excellent opportunity for those interested in property investment to learn and connect with like-minded individuals.

Gaining clarity on personal goals and outsourcing tasks are crucial steps to becoming a successful property investor. Rob shared his experience of being easily distracted by potential deals before getting clear on his long-term ambitions. Once he had a clear understanding of his goals, he was able to focus on the right investments for his strategy. Outsourcing tasks, such as property management, allows investors to concentrate on their strengths and expertise, leading to improved efficiency and success. Both Rob and his co-host agreed that successful property investors are those who know exactly what they want and outsource tasks to focus on their core competencies.

Outsourcing tasks in property investment can significantly improve one's experience and free up time for more important activities. The speaker shares how he outsourced networking and deal research, which led him to better deals and a more enjoyable investment journey. He also mentions the importance of self-reflection and continuously outsourcing tasks to focus on one's strengths. Additionally, gaining a deep understanding of economics has been a game-changer for him, allowing him to make wiser investments and provide valuable advice. Overall, outsourcing and continuous learning are essential strategies for successful property investing.

Having a solid understanding of economics is crucial for long-term property investors. The speaker shares how he entered the property industry without a proper understanding of economics and was taken aback when the market crashed in 2008. He then became determined to educate himself on the subject, leading him to read numerous books and blogs on economics and its impact on property. This knowledge has helped him make better decisions and navigate the industry. Economics may seem complex with its theories and models, but the speaker emphasizes the importance of understanding key concepts and applying them to real-world situations. Furthermore, the 18-year property cycle is an important revelation for investors, highlighting the importance of staying informed about economic trends and cycles. Overall, investing in property for the long haul requires a solid foundation in economics to mitigate risks and make informed decisions.

Understanding the property cycle can provide clarity and confidence in real estate investing. The property market isn't random; it's cyclical. By recognizing this pattern, investors can prepare for market corrections and identify opportunities in various property markets, cities, and property types. This knowledge can help investors make informed decisions and target areas ahead of the curve. However, it's important to remember that the property cycle is not an exact science or a blueprint. Instead, it's a tool to learn from and adapt to the ever-changing real estate landscape. Additionally, becoming comfortable with risk is crucial for successful property investing. Embrace the uncertainty and use it to your advantage.

Being overly cautious in property investing can lead to missed opportunities. While it's natural to be concerned about risk, especially when dealing with large sums of money, excessive research and caution can prevent you from making potential profitable investments. It's important to weigh the upsides and downsides, understand that mistakes can be learned from, and have a plan for handling potential issues. Additionally, focusing on the long-term and having a cash reserve can help minimize stress and risk. By taking calculated risks and trusting in your long-term plans, you can become a more effective property investor.

The Property Hub podcast episode discussed various resources to help property investors, including a new tool from TotallyMoney.com that helps identify commuter hotspots based on factors like travel time, house prices, and disposable income. The hosts encouraged listeners to share their experiences and learnings on the Property Hub forum. They also announced that next week's episode will focus on investing in property from a distance or overseas. Additionally, they reminded listeners to book their tickets for the Property Investor Show and mentioned a 5-star review from Lawrence praising the podcast's helpfulness and importance in his property investing journey. Overall, the episode provided valuable insights and resources for those looking to improve their property investing skills and expand their investment horizons.

Learning from today's discussion on The Property Podcast is the importance of staying informed and connected in the property market. Whether you're a seasoned investor or just starting out, keeping up-to-date with the latest trends, news, and resources can make a significant difference in your property journey. During the podcast, the hosts shared insights on various topics, including the current state of the property market, strategies for successful investing, and valuable resources for further learning. They emphasized the importance of networking and building relationships within the industry, as well as the benefits of continuous learning and staying informed. So, in summary, if you want to succeed in property investing, make sure to stay informed, connect with others in the industry, and take advantage of every opportunity to learn and grow. Remember, the property market is always changing, and staying ahead of the curve can give you a competitive edge. To keep up with the latest from The Property Podcast, be sure to visit thepropertyhub.net/podcast for show notes, past episodes, and to leave a review. Until next time, have a great week!