My Biggest Property Investment Mistakes
Some of the biggest lessons we can learn in the world of property investment come when we fail, rather than succeed. Mistakes can show us where we're going wrong, and can fortify our resilience so as to better avoid failings in the future. In this episode, Liam shares the biggest mistakes he's made in his extensive investing journey, as well as the invaluable lessons learned along the way. KEY TAKEAWAYS The biggest mistake many make at the beginning is investing immediately in overseas properties. You are then subject to exchange rate fluctuations, differing legal systems, and the fact that you are not local in case of problems. Learning to manage properties yourself is a major learning we all must undertake so as to get a better understanding of what is required in order to keep a property to a good standard. This can later be handed off to a team, but how can we know which elements need work if we've never experienced them ourselves. You can now build, scale and grow faster than ever by using other people's money. Saving up first and investing slowly is laborious and not effective or efficient. A property journey is far better undertaken when you're not doing it alone. When you do things on your own, it can be painful, lonely and dispiriting when things get tough. Find a mentor who's walked the path and you'll always have a guiding hand. BEST MOMENTS 'I've made every mistake in the book!' 'The problem was that I had no understanding of the market' 'You can actually use other people's money!' 'It wasn't that the game was wrong in property. It was just that the player wasn't playing it right' VALUABLE RESOURCES The Dealmaker Podcast - https://omny.fm/shows/the-deal-maker-by-liam-ryan Assets For Life - https://assetsforlife.co.uk ABOUT THE HOST You're listening to The Deal Maker podcast with Property Expert, Property Multi Millionaire and Joint World Record Holder Liam Ryan. If you want to become a master negotiator, close more property deals, become a great salesperson and live a better life then The Deal Maker podcast is for you. Liam is a property invetsor, business owner and Entrepreneur helping people make more money and live a happier life CONTACT METHOD Instagram - https://www.instagram.com/liamjryanwealth/ Facebook Page - https://www.facebook.com/LiamJRyan.AFL Facebook Personal - https://www.facebook.com/profile.php?id=100010124928017See omnystudio.com/listener for privacy information.