Your Property Investing Action Plan!

Welcome to a new edition of the Business Owners' Property News and this week we look at a 10 step action plan that you can implement NOW to kick start your property investment journey.

You've created your vision, your mission - you know your WHY - BUT WHAT DO YOU DO NOW???!!!

Read on...

1. Define Your Property Preferences

Conduct thorough research to identify the specific type of property that aligns with your investment goals and preferences. Whether it's residential, commercial or mixed-use properties, clarity on your target market and location is crucial.

2. Schedule Property Viewings

Once you've narrowed down your criteria, proactively book viewings for ALL the properties that match your specifications.

Don't worry too much about the price at the moment!

Build relationships with agents by letting them know the type of property you're looking for.

3. Execute Viewings with Purpose

Approach property viewings with a strategic mindset. Have a clear checklist of criteria to evaluate each property objectively.

Set a target number of viewings per week to ensure consistent progress in your search.

4. Create a Pipeline

Keep a track of property viewings and your findings using a spreadsheet or dedicated software. Creating a pipeline allows you to manage your prospects efficiently and prioritise your follow-up actions.

5. Make Informed Offers

Make your offers! We're not going to buy everything, but we are going to offer on as many as we can - provided they tick our criteria boxes.

Base your offers on a thorough analysis of each property's potential return on investment. Don't insult the vendor or agent - make offers that you can back up with your analysis and rationale.

Set a target number of offers to make each week, balancing quality research with proactive engagement.

6. Follow-Up Persistently

In the competitive property market, persistence pays off. If your offer is not accepted initially, maintain regular follow-up with the vendor or their agent.

Many property purchases fall through during the process.

Consistent communication demonstrates your commitment and may lead to your offer being accepted if the sale is not progressing as expected.

7. Track Your Progress

Review your daily and weekly actions EVERY MONTH to gauge your progress towards your investment goals.

Consider partnering with an accountability partner or business coach to provide support and feedback on your progress.

8. Find new Deal Sources

Always be seeking out new sources of property deals.

Establish relationships with real estate agents, professional advisers, and other investors to access a diverse range of opportunities.

Set a system of having two way conversations with all your sources of deals so you are front of mind when opportunities arise.

9. Find new Sources of Capital

Continuously explore avenues for securing capital and finance for your property investments.

Leverage your existing networks, including colleagues, friends and family to fund your ventures or seek alternative financing solutions.

Create systems to maintain two way communication with your sources of capital, whether brokers, banks or private funders.

10. Educate Yourself Continuously

The world of property investment is dynamic and requires ongoing learning. Stay informed about market trends, regulations and investment strategies through books, courses, and networking events.

Investing in your knowledge will empower you to make informed decisions and adapt to changing market conditions.

By following these steps diligently, you can navigate the property investment journey with confidence and increase your chances of success as a business owner venturing into property investing.

Remember - patience, persistence and CONSISTENT ACTION are key ingredients for building a profitable property portfolio.

Need more information or help with any of the above - email me on [email protected] or call on 0121 647 7090 to find out more bout #BOPP - The Business Owners' Property Programme

Want to know if you're ready to invest? Take the scorecard here:

https://raj-24pstxc4.scoreapp.com/