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www.ThePropertyDiary.co.uk The Diary of James’ Quest For Financial Freedom
September 2006 - September 2007
Follow James’ Journey As He Is Mentored To Buy 12 Properties In 12 Months With No Money Down…
… Learn From His Experiences And Replicate His Success As He Progresses Towards His First Year Goal…
…And You Too Could Have 12 Properties In 12 Months!
Diary Entry: Week 0 of 52! Days left to Goal: 365 No. Purchased: 0 out of 12 Title: My story so far and how this plan came about
Welcome!
This is the start of my journey to being mentored to buy 12 properties in 12 months with none of my own money. Over the coming weeks and months you’ll get to follow a step by step account of my progress and see how I get on. You’re sure to learn a great deal from my experience, so enjoy the ride! You’ll be able to follow exactly how I buy these properties – from getting the leads in the first place through to what I do with them. By replicating what I do as I do it, you too could have a portfolio of 12 properties in 12 months. You’ll also get helpful links, tips and resources from my mentors as the journey unwinds.
To give you an introduction, I’m kicking this diary off with some background on my story so far and how this challenge came about… The routine, oh the routine… You know the routine. You go to work, get paid, pay the bills. Maybe you’ve got some savings or a few stocks and shares, but they’re not going to be enough to break the routine. So you go to work, get paid, pay the bills. There are good days and bad. You crave for your days off and get that sinking feeling when it’s time to go back to work.
Perhaps this sounds like you? Well, it was just what I was going through. This is the cycle I wanted to break. I knew that there must be a better way. You see, I worked in London for a bank, earning a reasonable salary, but I didn’t want to do this for the rest of my life. I wanted to be free of the routine, have some money to treat myself once in a while and to secure my future and that of my family. Most of all I wanted to be in a position in 3-5 years to have sufficient income from investments to enable me to spend more time with my family.
So, I did some research and decided that property would be a good investment. After all, my own home had grown in value, and if I had some properties with someone else paying the mortgages, I should do okay. I also noticed the rich list was full of entrepreneurs that had made their money in property. So why couldn’t I?
Taking action… The problem was I didn’t know anything about investing in property, and all of a sudden I felt this fear of the unknown. Where should I start and what if it all went wrong? I knew if I didn’t act, nothing would change, so I decided to see what property courses were on offer and committed to sign up to some.
I am not going to name names, but I did a full range of property success courses, some better than others, ranging from the £97 online home study download to the £2,500 weekend seminar and the £5,000 membership fees. The common theme with all of them was buying below market value, and the fact that you make money when you buy not when you sell. This made sense, but none of them really taught me how to practically do it, at least not in a way that I really felt comfortable with.
These courses did however leave me with a buzz of excitement that I could escape that “work, get paid, pay the bills” routine. Eventually I got caught in the hype, saw the £££ signs flashing before my eyes and bought 5 off plan properties from a sourcing company over a 12 month period, without really thinking about it.
Key Lesson 1: Take action and get the knowledge you need. You wouldn’t become an electrician without training as one. So why do you think you can become a property investor without first learning about it?
My worst fears…realised But somehow, my dreams seemed even further away. You see, I seemed to be missing a trick here and I’d tied up a lot of capital buying these properties and was actually paying towards some of them each month once they completed. What they had said would happen didn’t always match up – tenants were harder to come by, the area wasn’t so “up and coming”, or their rental estimates were overstated.
So, far from being free, I was now burdened with extra expense and had run out of capital so now I couldn’t buy anymore. I was beginning to feel I was well on the way to making things worse, not better. Now I was going to work, to get paid, to pay the bills AND to fund my new investments! All I could do is wait and hope they go up in value.
So that’s it, it had all gone wrong and I’d basically blown it.
Or so I thought.
Key Lesson 2: Don’t get caught up in the hype of a property investment or wealth building course. It’s better to learn from investors who’ve made it themselves, rather than someone whose “graduated” through the course, or worse still, don’t have many (or any!) property investments of their own.
Quitting is for losers! Well, the positive thing was that I had actually taken action, even though the investments I’d chosen weren’t really working out for me yet. So, with this thought in mind, I knew that if I kept going, eventually I would find a system that would really work and could repair the damage.
You see, when you are determined, you keep going. If you quit, you could be just around the corner from something that will make your dreams come true. There’s something about “winners never quit, and quitters never win” that rang true with me.
I just had to keep going and find a way that did work. I came across a property networking event that was mentioned in a course I studied, so I booked myself to attend. That night, I left work and I wondered whether I should bother going to the event. After all, I’d probably get laughed out of the place! Still, something inside me said I should go along, so I did.
Persistence pays off (I’m not giving up!) At that event I networked as much as I could, though it was totally out of character for me. I am quite a shy person really, but I was driven by the desire to sort this mess out and get back on track to achieve my dreams and break that cycle, that routine. I stumbled across Glenn Armstrong and Nick Pedrithes. After probing, I found out these guys owned 115 properties between them, and amassed their respective portfolios in a little under two years.
So, I took their details and that night I laid awake and I thought if I could just get a piece of their knowledge, understand their system and replicate it, I’d be sure to achieve my goals. You see, when I met them there were no huge claims, flashy suits or presentations with these guys. Their achievements did all the talking for them. They knew I had gone wrong, but they didn’t make me feel stupid. They knew I could have done things better, but by taking action and not quitting, they knew I had the ingredients to make it eventually. Best of all, they could show me how…
Key Lesson 3: Never ever quit. Don’t give up to save face or because of the fear of what others will say. Whatever it is you want to achieve, see it through to the end. Be Persistent!
Learning the system and getting support …Glenn was offering a buying property below market value course. He made this statement that if I didn’t learn anything I could have my money back. Having spent so much on courses, I found it hard to justify another. But I knew I was going wrong somewhere and that there must be a better way to achieve my goals. What I needed was a proven system that told me what I needed to do and know, and more importantly how to practically do it.
I spoke to some people who’d been on the course and they were doing very well as a result. I couldn’t find any excuses not to go on it and as it fitted with my dream, I had to do something, I couldn’t give up, I just couldn’t. So I took the plunge and booked myself on it.
The course was incredibly practical, and stepped me through the system Glenn and Nick still continue to use today. They showed me how to get leads from sellers willing to accept a below market value offer, what to do with the calls when they came in, what to say to people when I went to visit their house, how to structure the deals and what sort of team I needed around me to help me close the deals.
I was excited again, completely revived - I knew there was really something to this system. It was simple but remarkably effective. Best of all, there were the missing pieces that the other courses just didn’t give me – how to actually do this stuff, step by step. Because of my earlier mistakes however, I needed some further comfort and support to ensure I got back on track as quickly as possible. So I asked Glenn to mentor me.
On Glenn’s mentoring day, he showed me around some of his portfolio (well, we only had one day!), told me the stories of how he got the leads, did the deals, and how they were structured. I saw first hand the refurbishments he had done, the properties he kept, the ones he sold and why. Back at the office Nick showed me how to analyse a target area, the criteria to look for and the tools and techniques to use. Glenn then went through my finances and helped me to formulate a business plan that suited my circumstances and that would enable me to achieve my goals.
Setting the challenge – your invitation to learn through my experience So the first year of my plan begins here. Glenn advised me that 12 properties in 12 months is what I need to achieve to replace my current basic level of income, which means I’ll be financially independent towards the end of next year - and be able to use my time how I choose. I think this is the ultimate mentoring challenge for the property expert to take on. Glenn and Nick will live or fall by my success. Effectively, I’ve turned the tables and set them a real challenge. They are going to mentor me to achieve a portfolio of 12 properties, all purchased below market value, with none of my own money, in the next 12 months!
You can find out exactly what happens, what I do and how I do it by subscribing to my diary. I will all be sending regular weekly updates on my progress towards this goal. At each step of the way you’ll find out exactly what happens and get lots of hints, tips, tools and techniques that you can implement along the way. You see, if you follow everything I do and the way I do it (through Glenn and Nick’s advice and help), you too could have a portfolio of 12 properties in 12 months – maybe even more.
The information you’ll receive will be invaluable. This will be a unique learning experience for you - and for me! You’ll be able to follow every step of the way, and put the same actions in place as I do. You’ll be able to gain insight to every deal that happens and learn about those that don’t come off. You’ll get access to the team Glenn introduces me to and get special insights, introductions and offers that are not available elsewhere.
So what are you waiting for? Join me for the journey of a lifetime – real and uncut!
By Signing Up To The Property Diary You’ll Get The Following Benefits
R WEEKLY updates on my progress, activities and events for the week ahead
R Experience life as a property investor – experience the emotions with me!
R Activities that you can follow and implement, so you too can achieve success
R Learn the system – learn exactly how to implement Glenn’s system right from the start
R Tips and advice on deals direct from my mentors, Glenn and Nick – use what they tell me for your own benefit
R Tools and resources - access to the knowledge, links, tools, techniques and resources used throughout my journey
R Access to the team I am introduced to by Glenn to support the whole process (that’s the mortgage brokers, accountants, solicitors, financing, insurance brokers, builders and so on) so you can use them too
R A new and unique way to learn and experience the journey of becoming a successful property investor and a chance to follow me, learn as I do, and end up with your own property portfolio!
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So act quickly, and become part of the most exciting 12 month journey any wannabe property investor can imagine…see if Glenn and Nick can live up to their challenge…and, if you follow the steps I take, end up with your own portfolio too!
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James' Diary, G&A Property, Unit 3 Heathfield, Stacey Bushes, Milton Keynes MK12 6HP |
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