Remember Property Is Business, It's Never Personal.

So when you're doing your property investing and getting out there whether you're using strategies like rent to rent , creative finance strategies , purchase , lease options or you're just looking at buying the properties remember one thing for sure it's not personal , it's just business .

Far too many people get caught up in getting emotionally attached to deals , which is very easy to do , of course , when you're putting money into potential opportunities , maybe you're looking at some planning , maybe you're getting some architects to draw some floor plans up , or you've got solicitors that are actually checking over documents for you , and that is a massive

mistake . There's nothing personal about business and you need to make sure you maintain it that way . I struggled with this when I started out because I do take a lot of things personally . You know , if I put a good property together and I move people into it and potentially they're not always 100% happy , I

used to take it personally . If somebody was a bit late with their rent payments , I would take it personally . It's nothing personal , it's just business . So make sure when you're looking at your property deals , make sure , when you're getting out there and you're evaluating it , you're looking at it with your investor hat on .

You're not thinking about it as this is the be all and end all . I see a lot of people , when they're starting out in property as well , they struggle with this . They become what we call motivated buyers and it doesn't really help . So when I do a deal , I never take anything personally .

If somebody's not happy about something , somebody wants to basically disagree with me about something . When it comes to negotiations , it's not personal , it's just business . Have all my deals that I've done been amazing deals ? No , not all of them .

I've done some pretty mediocre deals and I have done a couple of bad deals as well , but it's about making sure that you learn from the mistakes that you make but equally , that you set yourself up with the right contracts in the right manner .

The bad deals that I've happened to do and come across was because I was inexperienced back then and I did do some deals that I would never do now .

Now , what I did with those deals was I handed them back , we issued the break clauses and we gave the properties back in a good condition as we took them on , and that's what you always want to be looking at doing .

And , of course , if you're buying properties and you buy a lemon and stuff , yes , you might lose some money on it , but chances are you can repurpose it and you can do something with it if you have the skill set to be able to do that . Now , if deals don't work for me over the long term , that is where I would also give those deals back as well .

So I took on properties in 2019 , before COVID . We managed to survive COVID , which many of us did many of us savvy investors did and then , of course , we had utilities prices going through the roof and all of a sudden , for my business , it made it quite difficult to make a good profit on the properties .

Now I always try to go back , maybe renegotiate first , see if we can come to an agreement between us where we're both not having to take the major hit but of course , not everybody wants to play ball with us where we're both not having to take the major hit , but of course , not everybody wants to play ball with that .

In this case , the owners of the property did not want to renegotiate anything with the rents and things , so I ended up issuing the break clause and I ended up giving the properties back . But I moved on and I got more properties in my property management , my rent to rent business , as I move forward . You see , for me all deals have to be a win-win .

So I want them to be a win for the landlords or vendors or even the tenants who are moving in , and I've got to be a win for me and my business . And I don't ever mind people making money . I want to make some money . I want other people to make money as well . It's not trying to take advantage of anybody .

We never want to take advantage of anybody when it comes to property , because there are some very vulnerable people as you're going through and you're doing deals . So you need to make sure that whatever you're doing , you're doing it for the right reasons . It's ethically right .

You want to be able to sleep at night , but you also want to be out there to help when you are setting yourself up . You want to be setting yourself up from the get-go in the right manner and unfortunately , not everybody does that

. I have had people coming to me who have done deals and they're not particularly great deals . They've locked themselves in and they're paying too much rent or they're just in the bad area . And I say to them how have you got yourself into this position Now ? Sometimes they've had bad coaching or area .

And I say to them how have you got yourself into this position Now ? Sometimes they've had bad coaching or training . Other times they haven't even had that . They've just listened to podcasts , read some books and think they can go out there and do it on their own . It sounds like a great idea . Trust me , there's a lot of moving parts .

Even if you're doing HMOs or serviced accommodation , just setting up a good property management company , a good rent to rent business if that's what you're doing and you need to make sure you're taking the right steps at the right time , or you

can make a massive headache for yourself . And , yes , you can make money in this business , but as quickly as that you can lose money . So don't be one of those people . If you need any help and support with this , then do feel free to reach out to us .

We've got help and support on the propertyunleashedcom website Free tools and resources lots of help there to make sure that you set yourself up for success , to make sure that you're on the right track . I hope you've enjoyed this episode and I look forward to you joining me very soon . Take care . Bye for now .