Don’t Create a Job For Yourself
Don't Create a Job For Yourself
If we've met or spoken before, you will probably know that I invest in property projects throughout England.
Recently, one of my local property friends asked me how this is possible. Clearly I can’t just jump in the car and pop around the corner should a problem arise. I’ve lost count of the number of times that I've been asked this and yet the answer for me is simple; I’m a property investor - not a landlord.
There's a big difference!
As I live far from a number of properties I own, it prevents me from being tempted to get involved in the day to day ‘affairs’ that would waste my time and eat into my day! I have learned to see this as a positive, effectively forcing me to embrace the power of leverage. A clear example of this is utilising a property management company, such as a letting agent, to deal with tenants and facilitate maintenance.
For me, the distinction is that a property investor works on the business - not in it! I don’t see it as an efficient use of my time to be dealing with sourcing, refurbishing and tenanting properties plus the associated issues that undoubtedly arise from time to time.
There are many things that I can pay other people to do - relatively cheaply. By outsourcing all of the administrative elements of my business, I can free up my time to continue to build my property related income. For me that’s a no-brainer!