Continuing our five-part mini-series with my property buddy, Rupal Patel, Founder of Blue Infinity Group and Entreprenora. This time, we pose the question: 'is it all about the money?' I think you can probably guess that we believe that it's not all about the money...but what is 'it' all about then? Well, you will just have to listen or watch to find out now, won't you...
Enjoy the new video format, courtesy of my daughter as well 😉
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Transcription of the show
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 on the show again today.
Continuing our five-part mini-series with my property buddy, Rupal Patel, Founder of Blue Infinity Group and Entreprenora. This time, we pose the question: 'is it all about the money?' I think you can probably guess that we believe that it's not all about the money...but what is 'it' all about then? Well, you will just have to listen or watch to find out now, won't you...
Enjoy the new video format, courtesy of my daughter as well 😉
Property Chatter
Transcription of the Show
- Okay, here we go. Rupel, hi.
- Hey, Richard.
- Again.
- It's good to be back.
- It is good to be back. I'm just going to address the camera, one second.
- Sure thing.
- What are calling ourselves? Two Smart Buddies.
- Yeah.
- Two Smart Buddies. We're just having some chats and we just had a conversation about what advice we'd give our younger selves, so to speak. In this particular clip, I guess what we want to talk about is, is it all about the money? Is it all about the money, Rupel?
- No. Video over [Laughing]
- That's fantastic. If you'd like to elaborate just a bit.
- Just a bit. So, okay, look. It, what is it? Success, your business, your property investing, whatever targets you've set for yourself is it all about the money? So obviously, no, well my perspective is no. It's not all about the money. Is the money important? Yes, of course. Because the money enables so many other things. For us, whenever I say us, it's me and my husband/business partner, the reason we got started investing in property was for a whole host of reasons. Money being one of them, but the other, well so money being one of them because it allows us to buy back our time, of it giving us financial freedom to then sort of give to charitable donations, give to charitable causes that we both really. really care about. So for my husband, that's the British Legion. For me, it's various educational charities. And it was also to enable us to take care of our families and however we define that. And by family, it's sort of a wider family, not just our immediate and nuclear family. So those are sort of some of the financial considerations. The non financial things that we started our business for and wanted to grow to be financially successful in order to enable, were so that we can leave a legacy, not just for our children and you know, whoever in our family, but also a legacy for our communities. So as property investors, I think we're very, very lucky in that the homes that we create, or that we rent out, or that we sell become homes for real human beings. And that is a big responsibility that I don't think enough investors take seriously. And I say it's a big responsibility because as we all know, we spend about a third of our waking life in our home, if you work from home, then it's a lot more than that. And our physical surroundings have a huge impact on our mental well being, on our physical well being, on our performance, on a whole host of things. And this isn't just me sort of saying things and making it up. This is proven by research, and so, if our physical surroundings have such massive impact on our lives, then as developers and investors who are providing homes to people, it is a part of our duty and responsibility to make sure those homes are not just warm and sort of structurally sound, but are also for us, to you know, make inspirational places to be in. And it doesn't have to be, you know, contrived and have quotes everywhere on the wall and have meditation rooms, but just having well thought out, beautifully and carefully constructed homes, flats, whatever it is. So that people enjoy the time that they're in their home.
- Yeah. Sounds good. There's a lot of information.
- I know.
- That was by far the most, you're on a roll. That's absolutely fine, but um, some of the things you talked about there. You talked about, you know, money and it's good to have goals which you can measure.
- Mmmhmm.
- So I think, you know, goals with money, dates and things like that, are pretty good as goals. I know you also counsel and mentor people and I do too.
- Yep.
- One of the places, I don't know how it is for you, when I start talking to someone, I always start with what are they trying to achieve in life.
- Yes, 100%.
- And that's talking about purpose and their lifestyle choices and their preferences. And we haven't got into money particularly
- No.
- in that part of the conversation. I mean it will come into the conversation.
- Of course.
- It's like, what is it you really want to do, achieve, be?
- Yeah, exactly.
- And so I think you start in this place, it's not all about the money.
- No.
- And I think the second point, perhaps, being talked about quite a lot recently, is fix and flex.
- Okay.
- Yeah, makes you say "oh what does that mean?
- Yeah what's that version, tell me more.
- When I explain this, "oh yeah, that". Basically, fixing a goal.
- Yep.
- Fix it. So you got a direction, you've got a goal, and you've got something to aim at. And when you get there, so maybe it's the five year goal, maybe it's the one year goal, it's not necessarily a lifetime goal. So once you've got to that goal, you're in a different vantage point. You've climbed up a level, and then you have different outlook. And then you can flex, you know once you've got to that place.
- Exactly.
- Because you've got a different advantage point, maybe you can look up a little higher. Maybe not looking straight to the top of the mountain,
- Exactly.
- but to the next level.
- Definitely.
- Fix and flex
- I love that.
- To the next level, fix and flex.
- I love it.
- So, you know, I think what I'm really trying to say is things change, life changes, we change, and so for me, now, for example, just talk about one of my first goals was to fix a hole in my pension. That was one of my first goals. I was able to achieve that fairly quickly, the second one was to get financial independence. This movement, then it was to get my wife financially independent. And then, you know, there were other lifestyles goals. Now, I want to, it's not for me anymore. So I'm leaving a legacy, building a legacy.
- Yeah, yeah, yeah,
- How about you? Does this idea resonate?
- Yeah, completely. So one of the things I said when we first started talking about this was the idea of buying back my time. I, maybe like many entrepreneurs out there, am a multi passionate person. So, property's one of the things I'm super passionate about, but it's not the only thing I'm passionate about. What's been great about having this fixed goal. So the fixed goal for us was, first, to replace my income, and then to retire my husband, which we've now done.
- Retire your husband?
- Yep. And so, we've got, now two of us, working for ourselves, you know, on our businesses, and it's a really brilliant place to be because what's that done, in addition to providing sort of a flexibility of our lifestyle and all that kind of stuff, it's also now bought back my time so now I can focus on what comes next.
- Yeah.
- Right? And so for me, property was one of the businesses, for me, moving forward, it's now really just focusing on helping women build financial freedom through starting and scaling their own businesses, whether in property or not. And that for me, is another part of the legacy. It's taking what I've learned along the way and helping others do it. And scaling that, and as you said, getting to that vantage point. It's like no, this isn't just about me anymore, it's about others. How can I help other people, and also thinking broader, you know, about the audience you want to talk to. This is now, it's global.
- I'm hoping we can talk about values.
- Yeah.
- So, I was talking to someone the other day, and they said value. You know, what is the value you create, what is the value you get? It's not that kind of values. It's values, what's important to you in the way you live? You know, things like integrity, for example. You should have your own, and so I think, it's not always about the money, but you know, it should be about the values.
- Definitely. Hanging out with the people you share values with. Make sure you know what your values are, you don't necessarily connect with them, you don't necessarily constantly specify them, but know what they are.
- Yeah.
- And then actually maybe to work out who else you're going to work alongside or be alongside, and see if they share those same values. That's a good way of keeping things in tandem, and on track, rather than going against the grain.
- And I love that, because, so my parting thought builds on that, and it's sort of just being very aware of who you are and honoring who that person is. So learning about yourself, learning about what makes you tick. Learning what your values are, what's important to you, and then making sure that you don't ever feel in opposition to that. But the beauty of that, is sort of when you are conscious and know what your values are and what's important to you and how you work. You sort of attract people who are in line with that anyway. And, then it stops having to be a conscious thing and it's just this sort of shared energy, shared mindset, shared values, that it just makes it a lot easier once you've identified them for yourself. Then, people are sort of drawn to you who share those values.
- Perfect, perfect. Well, I'm just going to address the camera again,
- Sounds good.
- Thank you, Rupel, again. Had a great chat.
- Always a pleasure.
- This has been Two Smart Buddies. Resolving it's not always about the money, it's about other things, too. So thanks for watching this time and we'll see you soon.
- See you soon.
- Smart, ah I like that. That's very clever.
- You like that?
- I do.
- Look it, Martin is holding a camera there, and just give you a name check at the same time.
- How long was that? What? Perfect.
That's all from me this week, remember if you want to talk about anything from today’s show, or just talk property investing more generally, email me at podcast@thepropertyvoice.net, I would be happy to hear from you! The show notes can be found at our website www.thepropertyvoice.net
Thanks very much for listening again this week, so all that left to say is ciao ciao!