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Article > Stop Complaining And Do Something About It!


Article kindly supplied by John Paul

Ok so it’s a bit of a controversial title but I feel its necessary. Since I’ve been going to more and more networking events it still amazes me as the amount of investors that are sitting there feeling sorry for themselves blaming the current economic climate, or the banks, or the mortgage companies, or who ever it may be that they are the reasons why they cant invest or make money in property.

I know I’m not allowed to swear, so i'll be as polite as possible –

Get a grip and stop moaning!

If you're one of this people who have every excuse under the sun why you cant make any money, you need to stop feeling sorry for yourself and make up your mind if you want to be in property or not. This isn’t targeted to just property investors but to any one who wants to make money in a property related business. It is possible, I did it, and I have come up against some pretty big obstacles.

Lets look at some of the most common excuses why you can't make money in property:-

Bad credit
When the banks tightened their belts it made sense to restrict the amount of borrowing by increasing the lending criteria to potential borrowers, thus making it harder to get a mortgage. From then on you had to be squeaky clean to get any borrowing and even then it depended what side of the bed the mortgage companies got up on.

I must admit it hasn’t been easy but you can continue to buy using JV’s with other investors, putting the mortgages in partners or family names. You can also use Lease options to control properties etc all these you don’t have to have an excellent credit rating.

Also if you can use commercial borrowing, they look at things a little differently, although you still have to be credit checked, the lenders look at the deal more to see if it stacks and the affordability of the repayment.

I have a CCJ and a default against my name, courtesy of an ex partner and a banking admin error so I do speak from experience when I say it can be done with a less than perfect credit score.

I think this is extremely important in business, without a strong mind you WILL fail. You need to keep a positive outlook even when things get stressful. I debated for quite a while if I should tell you the following story as its quite personal, but I feel if it can help in any way and prove that you can be successful when you feel the world is against you, then it would be worth sharing:-

My father had quite a successful engineering business in Co Durham, we had nice cars, nice house and a good life. Then in 2002 he asked to see myself and my younger brother. He then told us he had terminal cancer and had 6 – 12 months to live. My mother had recently had cancer and had beaten it, so I was confident he would do the same. It was not to be, 12 days later he fell into a coma after catching an infection and died 2 days after that. It was the lowest point I had been in my entire life. To make things worse, there was no one to run the company and basically 6 months later the receivers were called in, we lost everything. The cars we repossessed, my mother had to sell the house, and we were all out of jobs, not just me but my family as well.

We all had to start again, losing my father was bad enough but to see my mother being kicked out of her home was also a huge blow.

I started work for a foundry as a Health and Safety Manager and just tried to keep my head above water for a couple of years. I worked 2 other jobs on evenings and weekends to make extra money to help my family. It was hard and at times I didn’t think it would get any better but I kept going, always thinking that my luck would change as I’m a big believer in that you make your own luck.

I had toyed with the idea of getting into property when my father was alive but didn’t take it any further. I revisited it a few years later and started reading as much as I could about the subject in particular the Rich Dad Poor Dad series of books regarding passive income. Then in 2005 I took the plunge and I remortgaged my house releasing £27,000 to buy cheap high yielding properties. Within 2 years I was making enough money to be financially free and live a very comfortable lifestyle. I have never looked back since.

The reason I have shared this very private story is to show no matter how low you think you are, there is always a way out. Its all about having a positive outlook and mindset. Mindset is crucial to success in business.

Out of all of the excuses why you can not make money in property, this one can only be solved by you. Some one can give you a good idea, you can JV with other investors, even get some one else to run your business for you once its established but only you can make sure you have the right mind set.


LHA Expert Advice


Imagine, month after month, having money deposited into your bank account, with almost no chasing the rent and little tenant support—ever. What an easy way to earn a living that would be! You can have that life. I'll show you how.

If you're serious about your property business in 2012 and you have LHA tenants, you will get this report, right now and read the report today!

The idea
Ok, so opening a letting agent is not a new idea, however having a letting agent that specialises in LHA and has a systemised and unique approach to property management is new.

We saw an opportunity not only to deal with the DSS market, but to design a management system that works. As I’ve mentioned in previous articles, so long as you have knowledge, a system in place and carefully monitor and review it, you will be streets ahead of your competitors.

You have to keep thinking outside the box, what separates you from all the other letting agents, is it cost? Service? some fancy new technology? You need to have an edge over the competition. Find your USP (unique selling point) and shout about it.

Deliver what you promise
You will never please all of the people, all of the time as we all make mistakes and peoples expectations do change on a day to day basis when property is concerned. However that said, you really need to make sure if you promise something, you deliver it in the agreed timescale at the agreed price.

We have set prices for everything, so that way all our investors know where they are. You have to be as transparent as possible, no hidden charges or fictitious invoices regarding repairs. We have had landlords just turn up unannounced asking to see his property or standard of our work to their property, none have ever been disappointed.

Be honest
If you make a mistake, hold your hands up and admit it. The property community is quite a close bunch, thanks to the internet and networking, so you can quickly get a bad name in a very short space of time.

Just look at how many sourcing companies or managing agents have felt many an investors wrath on Property Tribes or Property tycoon. Even another well know property forum had been heavily criticised (rightly in my opinion) on its rival forums.

Have Fun
Business should be fun. If you're not enjoying it or not having fun, get out. Its not for you. Whether it’s the buzz of negotiating a deal, or the satisfaction of selling a property or even helping out a motivated seller, you should always enjoy work. This doesn’t mean you will never get down or depressed about something but if your constantly dreading going to work and avoiding phone calls, then be honest this is not for you. We all have off days, and that’s normal, just do not make them a habit.

Overall you can make money in this climate, I know a lot of people that are doing very well, not because they are geniuses or they have millions of pounds from backers, but they have an idea that they are passionate about, good business sense, a bit of hard work and honesty. This combination and a bit of luck, all rolled into one make being successful in business not only a realistic possibility but also an enjoyable one.



LHA Expert Advice


John has written a LHA E-book that is full of tips and tricks that can be used to improve your cash flow and understanding of Local Housing Allowance. It is a must for any landlord dealing in this sector.

Get Ahead with LHA

Imagine, month after month, having money deposited into your bank account, with almost no chasing the rent and little tenant support—ever. What an easy way to earn a living that would be! You can have that life. I'll show you how.

If you're serious about your property business in 2012 and you have LHA tenants, you will get this report, right now and read the report today!


John Paul


John Paul

About the Author
John Paul is a portfolio landlord in the North East and founder of the Castledene Group of letting agents. The business is a member of ARLA, NALS, PI insurance and subscribes to the Property Ombudsman Code of Practice. Offices are located in Seaham, Easington, Bishop Auckland, South Shields. Halifax, Leeds, Manchester and Belfast. Both John Paul and the The Castledene Group have earned an enviable reputation of being leading experts in the management and letting of residential property to benefits claimants in receipt of Local Housing Allowance "LHA".




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