Manage episode 272601407 series 2342628
Are you tempted to take the plunge and begin your property journey, but unsure if the ‘No Money Down’ concept can work? Well, look no further as today Kevin is joined by yet another No Money Down star who managed to succeed in property in just a short amount of time. Together they discuss how the strategy can work everywhere and anywhere, what to look for in a JV partner as well as the importance of surrounding yourself with a like-minded network.
- The ‘No Money Down’ concept works in every area. On the mastermind, you can meet people from anywhere and everywhere making successful creative deals. There’s only one place where this doesn’t work and that is in your head. Do not worry yourself with where other successful people are making their deals and start concentrating on learning how to do it where you are.
- There are many simple things you can do to ensure you make deals. Things such as highlighting and advertising your property in local markets and ensuring each of your properties has a sign on it to show that you are currently looking for tenants. When you follow these simple, low-cost techniques you will start to get direct calls and before long will be able to fully occupy your properties.
- When looking for a JV partner, you do not always have to go with the person who can offer you the most financially. Work with someone you click with and who you are still able to work closely with if something was to go wrong. It is important to work with someone you have a good connection with and who you can celebrate the wins and figure out the losses with. If you portray yourself in your strengths and personality, the money will come to you. Do not seek someone who has money as your main focus, you will struggle to find the right people.
- The property industry is extremely fast-paced. You may even lose deals because you were not quick enough to respond to potential clients. You have to move fast on your property deals. Do not be a procrastinator, especially a positive procrastinator. A positive procrastinator is somebody who makes themself feel busy but never does anything that actually makes them money, such as focusing on viewings.
- Along the way, you will face challenges. The only way you are going to properly fail is if you stop. You have to keep going, the property industry is a forgiving business. You will face many challenges along the way, keep going and you will succeed. If you are on this journey alone, connect with people that are going through the same struggles, who may offer advice along the way. The purpose of the Progressive Property Community is to be able to identify people who can help you and who you can learn from.
“The thing that matters is knowing what he is doing, and replicating it in your area.”
“Protect what you’ve currently got, and then scale.”
“As much as I thought that money was what I needed to move forward, it really wasn’t.”
ABOUT THE HOST
Kevin McDonnell is a Speaker, Author, Mentor & Professional Property Investor. He is an expert when it comes to creative property investment strategies. His book No Money Down: Property Invest talks about how to control and cash flow other people’s property to create financial freedom.
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