In this podcast, Rob shares some of the mistakes he and Aaron have made while investing in property. Including overpaying on sourcing, missing structural issues, and paying too much for work.  Rob explains how they have learned from those mistakes and what changes they have made to the way they work to avoid making them again.

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KEY TAKEAWAYS

• Everyone makes at least some mistakes when investing in property.
• You will make most of your mistakes early in your business journey, but don´t relax too much. Even experienced investors make mistakes.
• You can get past most mistakes, so they are not disasters.
• Always learn from your mistakes.
• Check builders' quotes but bear in mind the time cost of carrying out those checks and learning how to do those tasks yourself.
• You need to avoid analysis paralysis. At some point, you have to stop your research and take action.
• Put checking processes in place and be sure to carry each one out properly.
• Understand your limitations and seek help from others with the skills and knowledge you are lacking.
• Recognize your weaknesses – if you overthink things, allow your partner to step in and stop you when they see you doing it.
• Learn from the mistakes of others

BEST MOMENTS

‘It is unlikely that your first property will the best you ever have. But you just need to do it.’

‘You need to avoid analysis paralysis.’

‘Not understanding your skills and not understanding yourself can lead to your making more mistakes.’

PODCAST RESOURCES

TheEPCregister – to check your current rating

rob@tpnpodcasts.com – to contact Rob about carrying out an energy inspection and advising you on making improvements.

VALUABLE RESOURCES

The Property Nomads Website 

Buy to Let: How to Get Started – By Rob Smallbone (Amazon)

ABOUT THE HOST

Rob Smallbone the host of The Property Nomads Podcast, is on a global mission to guide your success. Success can happen in many ways, shapes, and forms. Think about what success means to you. More properties? More clients? Financial freedom? Time freedom?

Rob wants to make a huge difference to people around the world. He is here to guide your success in property, business, and life and to inspire you to achieve your goals, dreams, and visions. He's travelled, explored, and invested. And he's not planning on stopping these activities anytime soon.

Buckle up, sit tight, and enjoy the ride that is life.

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