Too many people enter the “property business” for the sole reason to make money – it’s true! You can make “loads of money”, but, and it’s a big but, the business of finding, securing, financing, fixing, maintaining, renting and selling property is hard, frustrating, detailed, sometimes uncomfortable, always competitive and needs an iron will. It’s GREAT! If you really enjoy it or it all comes easily to you.
But you must play to your strengths, you must find what you really find enthusiastic about or you will find it hard to keep on when things get a bit tough, uncomfortable or inconvenient.
There are many aspects to the property industry, it is not just buy to let, buy to sell or trading. There are as many sides to the industry as there are types of character, you must find the activity which you love & which suits your personality & skills. The Property industry is like any other – there are the ups and the downs so you really need to be enjoying what you are doing.
Here are a few Ideas of activities and roles within the property industry you might like to consider;
Property Trader
Residential Specialist
Commercial Specialist
Industrial Specialist
Retail Specialist
Deal Runner
Property Investor
Land Finder
Land & Development Packaging
Estate Agent
Property Management
Residential Lettings
Commercial Lettings
Ground Rent Investment
Interior Design
Building Specialist
Renovation Specialist
Cleaning Services
Architect
Surveyor
Web based Sales
Finance Broker
Corporate investment
Private equity investment
Armchair investor
Trouble shooter
Offering training courses
You can see that there are many ways to profit from property and this list is not exhaustive at all. You should look into the areas you find interesting to find out more. Even if you want to get into property to become wealthy, and that’s your only objective, consider the route you take to find your deals. Some routes will suit you better than others so it may be easier to choose an activity which you find easy and enjoyable which then leads on to meeting the people you need to contact to find your deals. The main thing is to be in regular contact with property people whatever your main activity.
To find where your strengths are & where you might excel ask yourself;
Where have I been a big winner before?
What exactly was I doing when I won?
What activities in my life have I really enjoyed?
What really makes me passionate & excited?
What am I enthusiastic about?
When I have spare time what do I like doing?
What do I regularly dream of being able to do?
What do I really hate doing & what do I regularly avoid?
If there were no limitations how would I live my life?
If I won £10 million pounds what would I spend my days doing?
If I was 90 years old today what would I regret I had not done?
Take some time right now to write down as many answers to these questions that you can think of - don’t try to work out any of the detail, just get down on paper as many thoughts as possible without stopping. When you review the results you should start seeing some guidelines & clues of what part of the Property industry you should be involved in – and which you should avoid! (If you don’t do this now plan to come back to this list & carry out the exercise later)
Strengths & Talents
Your strengths are the direct result of the natural talents you were born with. These talents have been developed through life experiences, education and the skills you’ve developed.
Your talents are the special abilities that you were either born with or developed when you were younger than 3 years old. These abilities can take many forms:
Thinking abilities - strategic thinker, a marketing mind, visual or spatial thinking, genius thinking, creative thinking, linear thinking, curiosity;
Feeling abilities - intuitive, empathetic, passion, confidence, determination, spontaneous;
Behaviours - working well under pressure, being responsible, persuasive, ability to focus, being a good listener, good negotiator, eye-hand coordination.
Your talents are the foundations of your strengths.
Your strengths are your skills that you have developed all of your life, your strengths have been built on your natural talents.
What strengths & skills have you consciously learned and which have you found easy & become an expert in? Which of your learned strengths relate closely to your natural talents?
You have to use all of this information to find the corner of the property industry in which you will excel & become an expert, when you become an expert it is easier to make money.
TASK OF THE DAY - think about, discover & write down your natural talents, strengths & what you REALLY enjoy. Apply this info' to your future life.
