There is a smart hack you can use in order to make a lot more money in property, that’s tactical, but easy to implement. Armed with it, you can expect raise far more finance capital, which will in turn, encourage you to build your portfolio!
Purchase from a stationer, an A5 or A4 leather folio. make sure it’s mall enough to fit into your laptop bag, or bag you’ll use day-to-day.
Into this folio, list every deal you’ve ever done using the following format – particulars and details on one side, and pictures of the deal on the other. Each deal can then be stored in a plastic wallet inside your folio. Each page is a deal.
Make sure to include details such as purchase price, any discounts attained, mortgage value, net value, overhead costs, yield – gross and net.
Make sure you include all the deals you’ve ever done For those who have been operating in property investment for some time, this account could be considerable. If you are new to the property investment world, then make sure to include potential deals – ones you are currently looking into.
This account will encourage you to build your portfolio, in the same way that collectors like to keep track of everything they own. The sense of pride and accomplishment is similar to filling a sticker album with collectibles.
This folio also acts as a secondary way of keeping track of your journey so far. It also looks extraordinarily professional, and gives you the impression of someone who enjoys being accountable for your past and present.
Make sure this account is kept with you at all times, and can be presented to any potential joint venture partners. There will always be a moment in a finance conversation, when these details can be used to interest and impress potential partners.
This is why the one-page structure works so well – it allows people to get an instant “top line” feel for the way you work, and the success you’ve enjoyed so far. This adds an exponential level of credibility, and will make the prospect of working with you more tangible and authentic. You will subsequently see an increase in the number of people willing to work with you, as people, and especially venture partners, are always looking for proof of success and commitment.
This hack will provide that perception of quality, credibility and dedication.
Look out for Part 2, coming on Thursday.