Hey, what’s up? Samuel Leeds here and in this
video, I’m going to be giving you my advice if you’re looking to set-up a property business.
If you want to set up a buy to let investing business, these are things that you need to
consider. What are the things that you need to do to
set up a buy to let property business? Well, firstly, who the heck am I? I’m Samuel Leeds,
I’m the best-selling author of both these books, Buy Low Rent High, also Financially
Free in 7 Days. If you haven’t read those, check them out. What are the things you need to do? First
thing is you need to have a goal. You need to have a business plan. Any business needs
a business plan. So many people say, “I want to be property entrepreneur. I want to invest
in property.” They’ve got no business plan, they don’t know where they want to invest,
they don’t know what they want to achieve from investing. They have no idea. Get a pen and paper. Even if you just start
by writing down the why. Why do you want to do property? What are you hoping to achieve
from property investing? Here’s what I’d say, first thing is have an
outcome. The outcome might be more far away, so, “In 12 months time, the outcome is I am
making £3,000 a month which enables me to quit my job.” That’s the outcome. Then, when you’ve got the outcome, I would
advise then writing down the activity. The activity that you need to do make the outcome
a reality. Also, don’t put the activity down for the year. Don’t say, “The activity is
only to do, over the next 12 months, I have to do this, this, this and this.” No. Write
down activity over the next two weeks. The outcome for the year and the activity
that I need to start to make this happen and to build a momentum in the next two weeks
because otherwise, it’s like lastminute.com, if you’ve got something to do or if it’s Christmas
and you need to get to the shop and you always go on the 21st of December and do it. The
same, if you’ve got a month goal, you’ll relax and who cares, I’ll get to it later, you’ll
be procrastinating and putting things off. Two weeks, not even a goal, the activity that
you need to take. Maybe that will be, “I need to go to these networking events, I need to
view this many houses, I need to put in this many offers, I need to introduce myself to
the local estate agent.” This is the kind of activity that you need to make in the next
two weeks. Really [inaudible 00:02:19], that is number
one. Have a business plan, have a goal and have your planned activity. Next, number two, power team. Start putting
your power team together and the great thing is when you have your business plan and you
have your goal, you can tell your members of the power team what your business plan
is and see how they fit with that. Go to your local estate agent and say, “Hey, my plan
is I want to buy 3 houses in the next 12 months and I want to view 10 houses in the next 2
weeks, this kind of house. Can you help me?” Speak to an accountant. Say, “Hey, this is
my plan. This is my business plan. My short business plan.” Don’t spend three months writing
your business plan. You can bang it out right now today. “But this is my business plan.
Can you help me?” Speak to a solicitor, speak to a management company. Start speaking to
people. Speak to a mentor and say, “This is my business plan,” and start building your
power team who are the people that are going to support and make it happen in your business
plan. Number three, view lots of properties. I will
say, the person who views the most houses wins. Just start viewing houses and you might
feel, “I’m not ready to view houses. I’m not ready. I need to get my business plan more
accurate. I need to spend a few years on that first or I need to get my mortgage and principal.”
No. Just start viewing houses. When you start viewing houses, things just
start to happen. Next thing is you then start putting offers in. If you view house and then,
put an offer in and the next day, it just says, “Offer accepted. We need your mortgage
and principal,” you’ll get your mortgage and principal in the next 10 minutes because you
have no choice. “Oh my gosh.” You need to get it done fast, urgent. Versus you go, “I’ll
get my mortgage and principal and then, I’ll go view houses.” It can take forever. Just
take lots of massive action and start viewing houses because ultimately, if you want to
build a buy to let business, that’s going to come from houses. Even if you don’t put any offers in, just
go to auctions, go and sit with estate agents, ask them what’s around. Start viewing houses.
Do it as a hobby. A lot of my success students that have become very wealthy in property,
they said that instead of playing on the Xbox or watching box sets, they just started viewing
houses instead. Take your missus. Have it as a date. Just view houses. Number four, I’m really reluctant to say this
one. It is important, but I know that this is the one that you want to do the most and
this is the one that you’ll put all the others off to do this one. Do this. Important, but
don’t stop doing the others, but this one is you should, at some point, have business
cards, a website and flyers. Where do you get these from? You can set up
a website really quickly and really cheaply on Wix.com. You don’t need a fancy site, you
just need a site, so that when you go to an estate agent and you put forward an offer
or you’re speaking to people and you’re networking and they say, “Well, who are you?” You can
say, “Look, I’m actually Samuel Leeds. Here’s my card.” It looks professional. On the card,
there’s a website, they go on the website. It just makes you look more professional.
If you want to do business with people, people will just take you more seriously. Now, you don’t need a business card or a website
or flyers in order to make money, but it just helps when you have a business. People expect
you. If you see yourself as a professional property business person, you need a website,
you need a business card, very simple. Don’t spend more than £75 on the website and don’t
spend more than maybe £100 getting your first batch of cards. You don’t need 2,000 business
cards, you just need a few hundred. Hand them out sparingly. Don’t just dish them out. Don’t
got to networking events and go, “Here, have my card, have my card, have my card,” and
spam everybody. No, instead, collect other people’s cards and then, put them on your
list and grow your list and just have them ready when you need to introduce yourself
properly, but don’t spam people. The flyers when I say flyers, it’s like a
leaflet, you shouldn’t be giving that out to everybody. The flyer is if you see a property,
maybe it’s got two boards outside it. It’s with Dixons and also with Jayman and you think,
“They’ve got two boards outside, the property looks like an little bit of a refurb. I’ve
got a feeling that they’re motivated, close to my house,” you can just pop a flyer or
a leaflet through the door. When you’re driving around and you see something interesting,
you see an interesting property, get out, put it through the door, keep the leaflets
in your dashboard. It just helps you as a business person, make you more professional
and it will ultimately help give you more leads and deals. Lastly, number five, get the training. Get
the training. People say, “Samuel, you only go on about the training because you run training.”
No, no, no. Don’t get it twisted, it’s the other way around. I only run training because
I know how important it is that training exists. If you want to be a doctor, you’ve got to
get the training and you’ve got to get qualified. If you want to be a hairdresser, a plumber,
any professional, you’ve got to get the training. Same with property investment. The sad thing
is that a lot of property investors, they have no training because you don’t have to
have training to get a qualification to invest in property, to have a buy to let business.
You don’t have to, but if you don’t, you’ll lose tens, maybe hundreds of thousands of
pounds and you’ll leave money on the table, and you’ll potentially get burned and look
stupid. Just attend the class. We run a training company, you know. Come
down. Get the experience from other people. Don’t make the mistakes yourself getting the
experience with other people. I think the most important thing to invest in before you
invest in property is to invest in yourself. Once you’ve got the right kind of knowledge
and you know how to stack a deal and you know how to fund it, just get training. I invest in myself today. I’ve spent £264,000
in the last 12 months on my training. I really believe in training because the bigger you
grow, the bigger your capacity is to make more money and hold more money. Get the training. To summarise, have a business plan, set up
a power team, view lots of houses and make lots of offers, get a website and business
cards and get the training and invest in yourself. If you do these five things, your buy to let
property business will blow up in the next 12 months and I can’t wait to see you succeeding. If you’ve had any successes from property
as a result of my training or these YouTube videos, please do let me know because who
knows, we could bring you on If you’ve had any successes from property as a result of
my training or these YouTube videos, please do let me know because who knows, we could
you on Winners on a Wednesday. Every week, we have success stories. Also don’t forget to read the books, Buy Low
Rent High. These books, Financially Free in 7 Days, it’s good stuff. It’s good stuff.
It will serve you well, so comment below. I’ll see you next time. Thank you so much
for watching. I really appreciate your time.