Self Manage or Letting Agent?
Simon talks you through the pros and cons of both self managing your property portfolio and using a letting agent to do so, and whether you might be falling into the "landlord trap"? KEY TAKEAWAYS The more you grow, the more it becomes advisable to use letting agents, who can take care of the stress for you, and allow you to expand. The smaller issues that tenants can come up with are often not worth your valuable time. These minor disputes are far better handled by someone else, leaving you more time to grow. Even if you do hire a letting agent, you must be aware that ultimate responsibility falls with you. At the beginning, it can be very understandable to not want to lose 10-12 percent of your income, but if you have a growth mindset, you'll want to work towards having others manage your issues and free up your time. BEST MOMENTS 'It's buying properties - that's when you make the money' 'I like the idea of meeting my tenants and getting to know them, but the novelty soon wears off' 'The more time you spend managing your properties, the less time you have for actually buying properties' 'If you get someone else doing it and it frees up your time, you can use it far more productively' VALUABLE RESOURCES To attend your first pin meeting as Simon's guest visit http://www.pinmeeting.co.uk/, find your local meeting, and at the bottom of the page where you normally pay £20, click on where is says "pay with a voucher code" and use this code: PODCAST. This will by pass the payment page and you can attend your first pin meeting for free. Property Magic: How to Buy Property Using Other People's Time, Money and Experience by Simon Zutshi Find out about the Global PIN Meetings at www.globalpinmeeting.com To find your local pin meeting visit: www.PinMeeting.co.uk and use voucher code PODCAST to attend you first meeting as Simon's guest (instead of paying the normal £20). iphone: http://bit.ly/pinAPP1 Android https://bit.ly/pinAPP2 Register at Mindset For Property at - www.mindsetforproperty.co.uk ABOUT THE HOST Simon Zutshi, experienced investor, successful entrepreneur and best-selling author, is widely recognised as one of the top wealth creation strategists in the UK. Having started to invest in property in 1995 and went on to become financially independent by the age of 32. Passionate about sharing his experience, Simon founded the property investor’s network (pin) in 2003 www.pinmeeting.co.uk. pin has since grown to become the largest property networking organisation in the UK, with monthly meetings in 50 cities, designed specifically to provide a supportive, educational and inspirational environment for people like you to network with and learn from other successful investors. Since 2003, Simon has taught thousands of entrepreneurs and business owners how to successfully invest in a tax-efficient way. How to create additional streams of income, give them more time to do the things they want to do and build their long-term wealth. Simon’s book “Property Magic” which is now in its sixth edition, became an instant hit when first released in 2008 and remains an Amazon No 1 best-selling property book. Simon launched his latest business, www.CrowdProperty.com, in 2014, which is an FCA Regulated peer to peer lending platform to facilitate loans between private individuals and property professionals. CONTACT METHOD Contact and follow Simon here: Facebook: http://www.facebook.com/OfficialSimonZutshi LinkedIn: https://www.linkedin.com/in/simonzutshi/ YouTube: https://www.youtube.com/SimonZutshiOfficial Twitter: https://twitter.com/simonzutshi Instagram: https://www.instagram.com/simonzutshi/