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Rental Property Investment: 10 Secrets To Success

[The Guerrilla Property Manifesto]

What is it that makes someone successful with rental property investment?

This is a question that -- if you want to be successful in property yourself -- you should really want to know the answer to.

I mean, not everybody that gets into property is successful, are they? An interest in the topic does not guarantee any level of success...

This is easily borne out by visiting your local property networking event a few times. You’ll soon notice who the movers and shakers are. And who the strugglers are.

For that reason, over the next short while I want to introduce you to a little invention of mine: “The Guerrilla Property Manifesto”...

The Manifesto is a set of 10 points (it was 9 but I just added a new one!) that I came up with when I asked myself the question: “what is it that makes a property investor successful?”.

In order to answer it, I drew on my own 15 year property career and the observations I made along the way.

I have no doubt that I’ve forgotten something (or things) from the list, in fact I think I already just thought of one whilst writing this email...

So at the end, I want to invite you to let me know in the comments if there are any things that you think are essential to the success of an investor...

Anyway, the point is really to get you thinking about what it takes to succeed in this property game and if you’re not currently succeeding, help you to figure out what you’re missing.

Secret #1: Abnormal Results Upset Normal People

“A PART OF ALL YOU EARN IS YOURS TO KEEP.”

― George S. Clason, The Richest Man in Babylon

In his classic book “The Richest Man In Babylon”, George S. Claston argued that you should “pay yourself first” and save the first 10% of everything you earn.

So, before you pay the taxman, pay any bills or spend anything, you need to take a tenth and put it aside to build wealth for yourself and your family...

I argue that you should do the same with your time.

So before you give your time to an employer, your friends, the TV or Facebook, you should “pay yourself first” by spending time on your mission.

Now, that doesn’t necessarily have to be exactly 10% of your time and it doesn’t necessarily have to be early in the day before you spend time doing anything else (although that’s an excellent way to do it)...

My point is that you need to put your property mission first in order to succeed.

That means learning to say “no” to people and activities that sap your time.

And yes, that will mean sometimes upsetting people. And when you start getting results, that will upset people too. Because abnormal results upset normal people.

I have learned that you must sacrifice something in order to get to your dream.

You can’t be unusually successful *and* keep up on all the blogs, all the activity on Facebook, all the group chats and all the social events.

Something has to give.

And that brings me to point #1 of the Guerrilla Rental Property Investment Manifesto:

“The Guerrilla Property Investor is on a mission. Family, friends and colleagues may try to discourage or even mock him (or her) but he ploughs through, making his mission a priority.”

If you’re ready to stop messing about and start prioritising your mission then start now by checking out the new page I posted for you here.

Secret #2: Make Your Money When You Buy, Not Sell

I got this dead wrong when I started investing in 2003...

I bought a few buy-to-lets at market value -- maybe even a little more in some cases -- and then ran out of money...

As it turned out, the market was good to me as it was rising like crazy at the time and I was able to refinance and pull out more cash to keep going in no time...

But that’s another story for another day and doesn’t remove the fact that what I did was dead wrong...

I *should have* been looking to create value -- i.e. equity discounts -- at the time of purchase. We’ve all heard the mantra: in property you need to make your money when you buy, not when you sell. (If you haven’t, then you’ve heard it now.)

And this brings us to Guerrilla Rental Property Investment Manifesto point #2...

“The Guerrilla Property Investor is a value investor. (S)he seeks to create (usually off-market) deals that have value built into them: either in terms of discount, high-cash flow, or both.”

And how do you do that?

You must deal only -- and I repeat *only* -- with motivated sellers.

Why?

Because motivated sellers need to sell (as opposed to “would like” to sell) and this means that they value things like: speed, assurance, discretion, support etc higher than monetary price.

This can be hard to get one’s head round to begin with but once you do, it really is the “rosetta stone” when it comes to creating a successful and profitable property business...

And speaking of which, if you want to know how I can help you with that, check out the page at the other end of this link.