http://www.ispeech.org/text.to.speech
We need plenty of ‘tions’ in this business, specifically:
✳️ Inspiration
✳️ Education
✳️ Perspiration
✳️ Imagination
As we progress through our own personal property journey, our needs will also change.
We need inspiration from others to get going.
We need RELEVANT and contextual education that is designed around our unique skills, resources and goals.
We need perspiration or application to turn words and plans into actions and results.
We also need some imagination, so we can see further and wider than our short-sighted vision might allow.
Don’t just get stuck in a groove...find the ‘tions’ that you need right now or find someone that can tell you where to look for them at the very least.
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Transcription of the show
We need plenty of ‘tions’ in this business, specifically:
✳️ Inspiration
✳️ Education
✳️ Perspiration
✳️ Imagination
As we progress through our own personal property journey, our needs will also change.
We need inspiration from others to get going.
We need RELEVANT and contextual education that is designed around our unique skills, resources and goals.
We need perspiration or application to turn words and plans into actions and results.
We also need some imagination, so we can see further and wider than our short-sighted vision might allow.
Don’t just get stuck in a groove...find the ‘tions’ that you need right now or find someone that can tell you where to look for them at the very least.
Property Chatter
Welcome to The Property Voice Podcast helping you to navigate safely through the world of property investing, get the lowdown and updates, insights, and outcomes on all matters property with a splash of entertainment along the way to a property, voice the voice to trust among the crowd. Now, let's get started with your host, Richard Brown.
Hello, and welcome to another episode of the property voice podcast. My name is Richard Brown. And as always, it's a pleasure to have you join me again on the show today. Well, today's a little bit different. I'm actually looking at a camera filming myself, as I'm recording the podcast, it's Monday evening, it's fairly late. Yes, I have the glass of red in hand. For those of you who are interested in a little bit of the setup I have, when I come to record this podcast, it's kind of a bit of a strange experience, because I'm kind of looking at myself in the camera. Because I'm going to share this on social media later, just so you got a little bit of exposure, you can't see my entire environment. But essentially, this is my home office. What you can't see, we can probably see this is like I actually have a kind of a bed couch sort of arrangement here as well. So I flipped between a desk, which is over to my left-hand side. And then maybe you know, for a kind of afternoon siesta, I might, I might make it over here. But this is usually my spot really for taking some of the calls I take or the podcast recordings is pretty chilled, I've got my legs out in front of me stretched, which you can't see I was gonna flip the camera around, but maybe it won't be the best type of environment for you. So a little bit different just wanting to do that. So hopefully it doesn't throw me off my stride too much. And what I wanted to share today is really some of the observations or the learnings or the lessons that had from a conversation I had with a property voice podcast listener on Friday. And so Steven, if you're watching, if you're listening, thanks very much for reaching out and wishing the podcast a happy birthday. And actually, it's just wanted to say to you Thanks so much, by the way, because you've listened to every single one of the property voice podcast episodes. And in fact, some of them more than once I understand. So fair play to you for sticking it out. And I will say this as well that you heard me speak last week, and you actually kind of detected as sort of a mood change in the way I was speaking perhaps because I guess you know my voice quite well. So now giving you the the the benefit of a little bit of camera work. I'm actually a bit warm here because I've literally got back from doing a Pilates class. So I did Pilates before I came here and I got stretched a little bit beyond my limit today by the teacher who's kind of I'm going to call it a smiling assassin and actually feeling a bit hot and a bit sorry for myself. But here I am. I'm dedicated to delivering the podcast. So as I mentioned, I really wanted us to kind of reflect on a couple of things that Stephen and I spoke about. And it really made me think about you know, the stage that Pete the stages rather that people are at on their property journey, and how there's sort of shifting of tides. That kind of goes along with Dino where we are, we're at really in that respect. And it really was triggered I'm going to call it the shuns t IO n shuns and it will make sense perhaps in a minute payment in the might know is a catchy thing to say, but you'll get it as I unravel the conversation. So and Stephen said to me something when we were chatting, he said, I hear Stephen gets inspiration from listening to podcasts. And he was, you know, gracious enough to say that it includes the property voice podcast.
So thank you, Steven, that is giving you some form of inspiration over the years. And there's one or two of you have kind of contacted me since I've put out there that it was the sixth birthday of the property voice, you know, 300 episodes, 400,000, downloads, stuff like that. But you know, some of you have listened to all of them from the very beginning. Some of you have listened to all of them by going back and listening to them. One or two of you just come along recently, perhaps maybe one or two of you, you're probably not listening to this now maybe you started and you're not with me anymore. But you know, it's been a journey six years, and a lot changed in my world in six years. And I'm sure a lot has changed in your world. And this is the situation the conversation I had with Stephen because there was another Shin so the first tion was an inspiration. And he says he gets a lot of inspiration from listening to podcasts. And there's another famous one, you know by two Rob's that he listens to and he says he gets a lot of inspiration from that as well. But he said they're very different. And there are different styles and that's absolutely fine. I think there's room for different types of broadcast media styles and, and context, etc in this space. This particular podcast is often me musing and rambling. With my thoughts. probably thinking at the last minute what I'm actually going to say, occasionally having series and then having guests on that series. So kind of mix and match a little bit in that sense. Whereas obviously, the to rob to bounce off each other much more, I'm really talking to you. And that's part of the reason for recording this so you can see me, you don't usually see me, you just hear me. So if you're wanting to watch a bit of social media, I might try and get this up on. on YouTube, I probably got all the camera set up wrong, and probably getting shouted out by my VA for doing it all wrong, but I just kind of wanted to just to share with you in fact, I know I've got it wrong. So ignore the fact that I probably won't put it on YouTube. It has to be landscape, I think to put it on YouTube anyway. There we go. So inspiration, that's where I was. And so we know, we get inspiration from listening to podcasts hearing what other people have done with maybe their case studies, maybe read a magazine article, yes, I write for YPN magazine as well. I'm overdue with this month's issue, which I need to catch up with. So don't tell unguarded and Jane Williams, because they'll be on my case. And they'll know that I haven't done it yet. But I will do it, I promise you, it will be out soon. And that will be in the next month's issue. So there's, you know, over 60 articles, I think I've written for YPN. Now. So you can get some inspiration from that kind of thing. You can read biographies and get inspiration from studying that you can actually go and meet and talk to people and find out what they're doing and get inspiration from that too. But inspiration is really, he's getting something from the outward and get it and bringing it inward. Usually, that's what inspiration usually means see something happening to somebody else? And go, aha, I could do that too. Wouldn't that be great? Wouldn't that be cool? And so I think in Stephens's case, he got some inspiration. And I observed quite quickly because of what he's done. And he started his property journey just a little bit before the property voice podcast began, in fact, but so he's sort of grown-up if I can say that, with the property voice podcast ish. And he's accumulated quite a significant property portfolio over that period of time. And he's obviously worked very hard. And here comes the next show, which is perspiration. So he's, he's had inspiration, which got him going, then he had some perspiration, some efforts, and energy, I guess, you could say, application, as well as inspiration. And so that's, you know, took him a long way. And, you know, he focused on acquiring single lets a great, you know, great pace, he practices a lot of delayed gratification. And, you know, and also rode the wave of what's going on in the property market in that period of time, because, you know, bought, would have started around about the bottom of the market. And it's kind of written the wave of the market as well. So great timing, to have actually got in at that point in time and just written the property price wave, and I know, you know, the income stream is going, Okay, he talked about some of the different things by investing in individual names one and then invest in a company for a while. And there's been an evolution. That didn't mean that one, actually. But there's been another shutdown evolution in terms of his journey.
So there were the two things we kind of started talking about was, you know, inspiration and perspiration. But after the call, I was actually reflecting we had a long conversation about an hour or something like that, then we were just chatting, I was picking his brains and probing into what he's been doing. Of course, by now he's got a portfolio. I don't want to say too much, because it's not my business to say. So I'm going to just try and keep as much of his personal information personal. But needless to say, he developed a portfolio done pretty well. But then comes the next tion, which is education. Now, education sounds kind of obvious. And you know, a podcast such as this can give inspiration. So education as well. And indeed it does. But the context of me talking about education here is some is relevant education. And it's got to be relevant education, for where we are on our journey, what we're trying to achieve, and what resources we actually have. And if you think about that for a minute, there are possibly other things as well. But if you think about that for one minute, then we're all different. We're all unique, we're all a different stage, we've all got different resources and skill sets that we have available, you know, to us, we've got different, you know, we'll do won't do types of lists, as well. So the point is relevant education. And you know, when you picking up information, kind of on the fly, whether that's from podcast download, or a magazine article, or book, or something like that, you pick it up on the fly. And so in other words, I mean, obviously, you can go and hunt for specific topics. And I do suggest you do that, by the way, rather than just taking everything that's coming at you. Because you've just taken everything's coming at you. You're getting bombarded with different messages, which might not be wholly irrelevant to you, your particular point with your particular circumstances, your particular goals and needs and ambitions. So I think the idea is to have relevant education. And the way to do that, there's a number of ways actually, but the first thing is to seek it out. So deliberately find out what it is you need to know. And that's what I call to identify your gaps, identify your gaps, and then go and plug your gaps, excuse me, that on the camera, actually, you can see that happening. So that's kind of weird. Now, so identify your gaps, and then plug your gaps in terms of personal development input in terms of education, whether it's formal, or whatever you need to know. So relevant education, but you can get it in different formats as well. So you can get it fairly low cost, as I mentioned, books and magazines and podcasts, you know, these either no cost or low-cost resources. But of course, is usually kind of a one-way dimension. In that sense, someone's talking at you somebody's written, you know, at you. And you can't ask questions, you can't contextualize it to your specific situation. There's another one there isn't.
There are lots of shows that I don't think about, you know, these are not in deliberate puns, by the way. So you know, and it's not in context with what you're trying to achieve. So I need to turn this off because I'm gonna, I know, I'm gonna get bombarded with WhatsApp messages, I could just hear that one go. And so it needs to be contextual. So really, the best type of education is like two ways, you could actually go to a training program. And then you're also kind of feed, you do get the opportunity to ask questions. Usually, it's in a group context. So it's kind of limited. It's like General, you know, general answer q&a and that sort of thing. Now, but you can definitely go and get training in that sense. But then you can, you can have coaching and mentoring. So that's where you shadowing someone, perhaps in a difference in a coach and a mentor has been there a donor, or coach is sort of helping you understand and get pulled out from what's within. And I kind of work in both ways, in a way I do a bit of man, I do mostly mentoring, actually, and a little bit of coaching, I don't want to give you all the answers, I want you to work for it. So mentoring is because hopefully I've been there and done it, I don't try and mentor in an area that I haven't got experienced him. And then funny enough experiences a keyword I'll come back to. But so there's coaching and mentoring that you can acquire from people as well. And that's where you can get interactive. And that's where really, it should be personalized and tailored to your specific needs. And of course, as we're going through this type of educational mix, what you could take on board, there is a diff, there's a trade-off, there's a trade-off in terms of time inputs, the trade-off in terms of the cost of these things. But equally, the payoff is that ease becomes more and more contextual becomes more and more personalized. You know, as we're going through books, books are not that person and contextualized. Mentoring should be, for example, so hopefully, it puts it into perspective. And of course, the other thing, the other way to get an education is through experience, trial, and error. And you know, just putting yourself out there, a lot of people just like to get out there, learn on the go making make some mistakes, and then learn for next time. And that's absolutely fine. And that works for a lot of different people. And a lot of different ways, I've got no criticism of that, apart from there's still a trade-off, right, there's still a price to pay the price of your mistakes, is still a cost, it might be a hidden cost, they're not going to be so directly apparent to you. But there's still a cost there. So there's a price to everything.
So if you go and get the sort of free resources, the one of the price, the prices that you have to pay, is that it's not contextualized it's not personalized, it's not relevant, specifically to you and your knees, right then one of the trade-offs. So if you get paid for training or mentoring is there is a ticket price literally attached to that. And that might not we might be beyond your means. In fact, although, you know, if you're in this game of property, then probably paying for some type of support is probably a good idea. Depends on what your objectives are, but you know, it probably is you probably get it paid back many times over. And then, of course, the in with experience you know, the time delay, sometimes people have the bad decision they make the bad deal they get into has a price attached to it too. So there's always a price to pay for education. So that was the next one, the third one. So education, but relevant and contextual to your situation is what I mean by that because a lot of people get educated but they don't make it relevant and contextual, targeted specific, personal to them. So that's that one. And then the fourth one that I wanted to share with you, which is something I reflected on after my conversation with Steven was imagination. And so of course another show. And so what do I mean by that? So we can have the inspiration, which is sort of looking out, you know, taking what's out and bringing it in, we can have the let's start with education we can have the education which is relevant and contextual to our situation. So we kind of know what to do what path we should take, etc. So we got some inspiration, which motivates us, we've got some education, we kind of know what to do more or less, then it becomes the hard work, perspiration or application. And so that's really, you know, you know, knuckling down, doing some stuff, and making it all happen. So converting a nice, you know, business plan into something in reality. And that takes perspiration, it takes application, it takes effort, it's a grind at times. So that's, that's the third stage that usually follows. And then the fourth one is this. And I think this is really important because I think this is extremely relevant if you've been involved in property for a period of time. So Stephens been involving seven years, I think he started about a year before the property voice podcast began. So he's been involved seven years done really well. And I think he's picked up his inspiration. He's got, you know, some education, I do stress some because contextual, relevant, you know, how much of it is a question mark, don't know. And definitely, some perspiration application because I know how many properties are bought, and how he's gone about doing that, and the sacrifices that he's made in order to do that. So all of those things there. And I don't doubt there's imagination as well. But the thing with the imagination is, this is coming from in and goes out. Okay, so some people don't have the inspiration, which is out in, some people don't have the imagination, which is in to out. And imagination is about being creative. That's what that really means. It's like seeing what isn't as if it was, it's making something that isn't there yet into being. And sometimes we can't do that on our own. I'm fortunate enough to be a relatively creative person, I'm not an artist or anything.
You would say I'm not a creative person. But what I mean, I'm a writer, I like to write fairly, you know, I think I can communicate. I think so anyway, but you know, so I think that's my creative energy. That's my creative spark. I'm in the middle of writing another book at the moment. And that will be my third publication, excluding the ones translated into the Korean language. But so you know, I think writing is my thing. So I think I understand I gotta kind of get the imagination, the creativity thing because it kind of comes naturally to me. There are things that don't come so naturally to me, and that's what we're all like, right? We've got our strengths, and we've got our weaknesses. And we can be strong in one area and not so strong in another area. And the reason this came to mind was when I was talking to Steven was, there were a couple of things we, you know, I picked up when I was talking to him asked basically kind of did a mini-portfolio review. I was asking him, you know, I didn't ask him, you know, what's his mortgage rate on each particular property. But I got a generalistic overview. And just quickly making some notes of, I wish I had the mind map, I should have brought it actually, I've got a mind map over there. And I was kind of filling out as I was chatting to Stephen and kind of picturing you know, his situation if you like. And I kind of played back to him what I was seeing. And I said, you know, what I'm seeing from you is that I think you could probably generate about 700,000. To do something. What you might do is, is up to discussion up to you, actually, Steven so but I could see how you could raise quite a significant amount of money from within your existing assets. And he didn't have a lot of cash sloshing around. Because he was always reinvesting his cash in his portfolio. Yes, he had income that was coming out. But it was anything. It wasn't anything like 700,000. And forgive me, Stephen, if I'm saying too much information about your personal situation, not given any surnames or anything like that. So hopefully, nobody can identify you. But the 700k was because I'm aware of certain things that he wasn't. And so you don't know what you don't know. Stephen didn't know what he didn't know. I don't know what I don't know. But I did know some things that Stephen didn't know. And so that's where, you know, it's a combination really, of the kind of the education, the relevant education, and specific and contextual education comes in, but perhaps outside agent triggering the imagination, and maybe providing a bit of inspiration while I'm doing it. So I'm kind of wrapping it all up there until then, and here's the thing. I think our conversation will carry on, Steven and I, I'm sure it will, because he's at a crossroads quite literally. So he could carry on doing more of the same thing, which is, you know, pulling together enough money for another deposit on a bicycle. And going again, although prices have risen quite considerably over the years, so that's going to be more challenging, just to do it the same way as it has done that I could see. They're always you know, that he could access funding from his existing resources if you so chose to. And equally, he could go in a slightly different direction, where there will be less competition. Then there is now I've been talking to a lot of people at the moment and they're saying the finding really difficult to find good deals, and they go in very, very quickly. And that creates a kind of a frenzied atmosphere or mania. And you know, if you see frenzied atmosphere ammonia, then stay away, frankly. So go looking somewhere else or sit on your hands. So I'm in a space at the moment personally, where I haven't got as much competition, actually, with some of the things I'm doing. And I'll talk to you about that, because it was the subject of, of the sprint challenge, q1 sprint challenge. And so there are opportunities there. And equally, the way in which we're funding and structuring the deals, I call myself a financial engineer, I think I've kind of realized that that's kind of one of my strengths of financial engineer, because of this financial engineering, because of some of the imagination and creativity that I'm bringing to some of the projects that we're looking at, we can actually access certain transactions at much lower levels of equity, personal equity input, then you might imagine, use that word again, imagine, and I was conveying this to Stephen. And I think, you know, he, he realized that he didn't know what he didn't know. And you know, this idea of imagination, well, interesting, somebody else can trigger your imagination, I'm pretty sure that Stephen would have gone away, and would probably be thinking his subconscious would be reflecting on the conversation that we had. And, you know, maybe ideas were spinning around, maybe not the same ones that I'm thinking about now because that's how our minds work. Right. And so that was really that there were the four sons that I wanted to share with you. There is imagination, education, perspiration, and I said, imagination versus inspiration. I think I've got them all right. So that they were the ones I want to share a few through a few extra ones in as well as we went along.
So I just thought that was interesting. And I think the particular relevance of that is I often talk to people who are sort of starting out in the property. And so you kind of start at the foundational level, and you kind of build up from there. But once somebody has been involved, been around the block a few times, so to speak, and has a portfolio of some description, then it becomes I could say the word turnaround, it might be a pivot, okay, that's required. So a turnaround means it's not in a good shape, probably, for whatever reason, maybe you're invested in the wrong location, if you've invested in Aberdeen has gone downhill, for example, that buildings example where a turnaround would be needed, or perhaps a strategy has kind of gone off the boil a little bit, then you need to kind of diversify and move in a different direction. So maybe do a 180. But a pivot is just is a small fine-tuning away. And so what I end up with, what I really like to do is talk to people who've got a portfolio, because the interesting thing is, I go, I go hunting for the gold. And like I mentioned, Steven found 700,000, but he didn't, he kind of knew we had, but he didn't know he could access those put it that way. And now he's telling him how he could access that sort of funding. And then if he wanted to do something he Well, he could. And of course, we 700k that's a lot of by select deposits, well, actually, you could take down quite a significant deal for that kind of funding. So, you know, he has a decision to make about which way he goes. But I think you know, with contextual, relevant education, having an outside agent, you know, look in and give you insights, using your imagination and sparking off of the people, perhaps taking in there, you know, inspiration from other people on a two-way street, not just a one-dimensional podcast like this is really what was on my mind. So I did share a social media post about it. And I was thinking about what was going to share on the podcast this week. And I do have a few ideas about a series Actually, that's coming up, but I thought I wanted to share this. Because I think if you're at an early stage, the shins still matter very much. So when you might be focused much more on the inspiration and the education, you know, side of things. But as you mature and as you grow, and as you evolve, in this world of property, I call it fixing and flexing your goals will flex over time. Hopefully, your purpose will remain, you know, fairly fixed. But that can also change gradually, perhaps it can change over time too. And then your needs in this area will change. And that's where a bit of imagination, you know, is going to come in into the fall, really, and so just wanting to make sure that of course, you know, don't forget the perspiration. That's the one I keep forgetting the application there. So that was what I wanted to share. And hopefully, there's something in there that's resonated with you. I genuinely hope so. I'm going to have a little glass of red in a second and just say, you know, in fact, I'm going, to be honest, Steven, you sit out I know that sometimes you like to have a record the podcast with a glass of red next year. Well, that was often true. But more recently, I've knocked it on the head. I actually haven't been drinking during the week at all. And I record this on a Monday evening. So I've actually just got I've cracked open a bottle just to you. So I'm going to say a toast to you, Steven, toast to you, the listener who's joining me today on the podcast. As always, the show notes are going to be over the website, thepropertyvoice.net. If you'd like to talk to me about anything from today's show, you can reach me personally podcast@thepropertyvoice.net If you'd like to get on by the way, just quick aside, my book property financing book is 770,000 words in the making probably one content chapter left to right and a bit of topic entertaining and editorial to do. But I'm really excited because we're on the home stretch now. But if you want to be the first one of the first to hear about the book, maybe get on the waitlist, maybe be involved in a pre-order. Why don't you drop a line to Karen, my VA, my virtual assistant admin@thepropertyvoice.net, and asked to get put on the book list? And you'll be one of the first people to actually hear about that.
Hopefully, it's gonna be launched. Not in April, but possibly in May. So watch that space. And I'm excited actually really excited about that book because it's not going to be your regular property financing book is not all biter loan commercial loans and bridging. Those put it that way. That's three chapters out of 18. I think I've got so there are over 30 different strategies that are in that anyway, I didn't mean to do a massive blog on the book. I just kind of a bit excited about it. Because, you know, it's top of mind at the moment spending a lot of my weekend's writing. So there we go. So show notes I've mentioned how to reach me I've mentioned I guess there's only one thing to say. And that's thanks very much for listening once again this week on the property boys podcast. Until next time.
Thank you for listening today. Now head over to thepropertyvoice.net. For more inspirational content, and get updates through our mailing list. Join us next time on the property voice podcast. And if you enjoyed the show, please don't forget to rate us on iTunes.