Christian and I invited property investor and Founder of Property Filter, Guillaume Black, onto the WealthTalk podcast to share his expert knowledge on how to find and manage hot below-market value (BMV) property deals in just a matter of minutes. Guillaume has been involved in property since 2012 but things really kicked off for him in 2018 when he started to develop high-end house shares in the Birmingham area and has been doing so ever since. The secret to his success in property was a piece of software that Guillaume developed with his best friends, called Property Filter. The results he saw from it allowed him to become ‘Property Entrepreneur of the Year 2021’ and won him ‘Deal of the Year’ in 2022. Whether you're a seasoned investor or just starting out, you'll want to listen to this episode to learn more about Property Filter and find out how you could use it to find and manage hot BMV deals within minutes. Guillaume has kindly offered a very special 14-day free trial of Property Filter Early Access to WealthTalk listeners.
We invited property investor and Founder of Property Filter, Guillaume Black, onto the WealthTalk podcast to share his expert knowledge on how to find and manage hot below-market value (BMV) property deals in just a matter of minutes.
Guillaume has been involved in property since 2012 but things really kicked off for him in 2018 when he started to develop high-end house shares in the Birmingham area and has been doing so ever since.
The secret to his success in property was a piece of software that Guillaume developed with his best friends, called Property Filter. The results he saw from it allowed him to become ‘Property Entrepreneur of the Year 2021’ and won him ‘Deal of the Year’ in 2022.
Whether you're a seasoned investor or just starting out, you'll want to listen to this episode to learn more about Property Filter and find out how you could use it to find and manage hot BMV deals within minutes.
Guillaume has kindly offered a very special 14-day free trial of Property Filter Early Access to WealthTalk listeners, which you can sign up for here.
Resources In This Episode:
>> Special Offer! Property Filter: Find Great Deals Faster [Discount for WealthTalk Listeners]
Next Steps On Your Wealth Building Journey:
>> Join the WealthBuilders Community
>> Join the WealthBuilders Academy
>> REGISTER HERE FOR ACCESS TO FREE RESOURCES
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Unknown Speaker 0:01
The purpose of wealth talk is to educate, inform, and hopefully entertain you on the subject of building your wealth. Wealth builders recommends you should always take independent financial tax or legal advice before making any decisions around your finances.
Unknown Speaker 0:19
Welcome to Episode 192 of wealth talk. My name is Christian Rodwell, the membership director for wealth builders. And back with us this week is Mr. Kevin Wheeler, now founder ad and Kevin. I'm doing well, Chris, and it's good to be with you. Again, I think you did a great job in your compilations of various podcasts that are themed. And I think that was a great idea because I suppose we all live busy lives. And we don't want to randomly walk through 192 episodes of podcasts, as good as it as they are Chris as good as they are. It's good to be able to focus on hey, I'm interested in property, I'm interested in business, whatever pillar you may be interested in, then you pointed them in the right direction did a great job. So that was great. And that gave me a little bit of time to Yeah, yeah. What else have you been up to? In that time, Kevin, I did a little bit of a tour around Scandinavian countries.
Unknown Speaker 1:19
Just on it, you know, it'd be a real good thing to do, and really enjoyed it and went to Copenhagen and then to Gothenburg and Stockholm and
Unknown Speaker 1:30
my wife loves ABA. So we went in expecting and we came out dance, and it was great, you know, is it it was a fun place to do
Unknown Speaker 1:40
some observations as always, and it's interesting that some observations you make in countries can frame a business cantankerous as we'll hear from our guest today, but I got some fascinating insights on my Scandinavian trip. And by the way, Chris, you know that
Unknown Speaker 2:00
I've studied French and I've studied Spanish and my English isn't too bad. But I found my Danish wasn't as good as new words and my my favourite words in Danish right? Is the mid flow
Unknown Speaker 2:15
which means more wheezing cream. Right? Okay. So you know, I do try I do like to give it a go. But you know, in Sweden and in Denmark, they teach kids English from the age of seven. So they are just brilliant at it by the time they get to 18 everybody speaks English and they don't let you speak any other any other language so it's not like the French you know, you go to France you don't try they look down their nose at you, certainly in Paris. But they're just a lovely, lovely group of people. I enjoyed my time there very much. I noticed one thing which caught me out. So I got a bit of a wealth building lesson there, Chris. Okay, yeah, tell us please. So So I went there thinking well, you know, I might as well load up on a bit of currency acts I hate the banks taking money out of my money. Just because I you know, make a transaction so I took a healthy amount of both Danish and Swedish kroner I couldn't spend a bloody Penny couldn't spend a kronor but not spend it because the virtually cashless
Unknown Speaker 3:27
Yeah, they were you couldn't get a cup of coffee. They would not let you pay with cash. So I've got you know, I'm Do you remember that
Unknown Speaker 3:36
comedic sketch going back years lounger money? Yes.
Unknown Speaker 3:42
Carrying a large either What a crowd of large Armani, I've
Unknown Speaker 3:47
spent a thing now anyway, but Joe Joking aside, it just sort of made me realise that different countries give you different lessons. And in Denmark, and in Sweden, they're brought up to know that there's so few people speak those Germanic languages, I mean, their basis Germanic,
Unknown Speaker 4:05
that they have to speak English, and fair play to them. And as a result of that, you know, they can go really wherever they want to, whereas English speaking so they often do that. In the same ways Australians and New Zealanders often do that. But the thing that on the capitalist side was interesting for me, was, how are the kids in Sweden in Denmark?
Unknown Speaker 4:28
Going to get to understand the true value of money, notes and coins, okay, they're getting less these days. But of course, they're the very foundation on which we learn and make me think more about the wealth builders families programme and bring in some tools and lessons to help parents show kids and help do basic maths. You know, here's some money in a game you can play with your children and what's the change
Unknown Speaker 5:00
so that they actually feel in touch money in a way that they don't do in other countries. I just don't like the idea that somehow kids turn assume literally, money is available on tap. And I mean tap,
Unknown Speaker 5:15
a different kind of tap, obviously, just here we go tap here without tap. And I think it removes the sense of value. And, and I'd like to make sure as part of our resources, Chris, we, we use some coins and notes in our teachings for the younger children so that they get to understand that money is based on notes and coins in circulation. But you know, fascinating
Unknown Speaker 5:41
trip, and thanks for asking about that. And I think what's interesting in our guest today is the observation that in different countries, while the wealth building principles apply, wherever you live in the world, we won't be translating them into Swedish I'm sure. So we'll we'll keep the wealth building principles alive. However, I think it's important to stress that in some other countries, the way the practical operation of certain rules and legals work, can can make you have to change your your approach completely. And we saw that with our guest today, who's Aghion, black, who's a French guy, who's built a business in the UK now. And I've shared the stage with him on more than one occasion, actually, now, an app, so I'm very impressed with GIMP. I'm always in awe of anybody who creates a business in a country where it's not their first language, just completely in all, but done a fantastic job. And you did a great job in pulling out the lessons from his experience in building his business property filter, here in the UK. And just a quick note, before we listen to his interview, just want to congratulate him as well, on the birth of his new baby, a lair.
Unknown Speaker 7:03
What a beautiful name as well. So congrats to him and his partner and congratulate you for looking after the shop while I was Scandinavian about and hopefully we get some good value from our guests today. Yeah, yeah, we will indeed. And I can say Graham also had very, very kind words to say about you too, as well, Kevin. So anyway, enough of the platitude. So let's get to our interview today with Gil on black, who is the CEO of property filter, and guild created a online software really helped property investors find and manage more deals, and especially if you're someone who likes to find motivated sellers, I think you're really going to enjoy the conversation today. So let's head on over to our conversation with Ian Black.
Unknown Speaker 7:47
Ian, welcome to wealth talk today. How are you? Very good. Thanks for having me, Chris. Yeah, no, it's really, really a pleasure to have you here. And I think we're going to be talking about something that our listeners will be very, very interested today. And at the heart of it, it's just about how can we get more deals. So if you're a property investor, and you're listening now, stay tuned, because Gyan has come up with something very exciting. So let me hand it over to you. Just to give a little bit of background about yourself and your company, Gil. Yeah, so I'm gay. I'm black. I'm the CEO and co founder of Prop filter, and we help decisive investors excel at finding deals. We've built, basically an online platform, which is all about finding deals, I don't find motivated sellers, and a framework for you to convert really hot leads into great deals. And we've built it in a way so that very predictably, you can have an endless supply of deals. So yeah, if you're in property, you know, like, you can't not see this, because it's where all the deals are. And ultimately, it's the way we are disrupting the market. More and more people are jumping on it. You don't want to miss the boat, basically, it's quite, it's, it's gonna be quite a game changer for you, if you want to scale grow and have a predictable pipeline of good quality leads and deals. Yeah, we've just used that word predictable, which is, you know, a key thing that we talk about a wealth builders is creating predictable streams of recurring income. And whilst we're focusing, I guess, primarily on property today, you know, we're also of course, looking at the business pillar, because you've built a really fantastic business here. But also, you know, we can touch on some of the other pillars that you're leveraging as well and show how, you know, all of these converge to to help someone build that long term wealth. And so let's, before we get into the details of what property filter is and how it helps people be on let's look at the run in how did it come about? What were you doing before you started this business? Yeah, so for 14 years, I was an engineer, I was in charge of multimillion pound construction projects, building real world record, bridges and things like that. I realised my childhood dream as a courier. But then you know, like, you know, be careful what you wish for sometimes and, you know, it's the the novelty of travelling and things faded away.
Unknown Speaker 10:00
With the lack of work life balance, and I started to look at things, you know, like, the type of content the wealth builders are putting out and things like that, like that. And surely there was a, there was an other way, for me, I've been doing stuff in properties since 2012. So did like bound conversions and some flats in France didn't make a nickel out of them, because I had no idea what I was doing. There's no interest only mortgages, you can't refinance when basically, basically the refurb, they did cost more than the value of the property at the end, that kind of stuff, you know, you do when you don't know what you're, you know, like, in my own town village, you know, so, and where there's no no demand and stuff like that. So did quite a few mistakes in property, but still was working. And then I moved to UK in 2016, kept on doing the same, same same work kept on travelling around the UK, England, Wales and stuff like that, but then really was looking for, for something, you know, outside of my job, too, because surely I couldn't be doing what I was doing, you know, in the long in the long, long run. And I always like property, it's why I was attracted to it, you know, back in 2012. And, and, because I'm a very concrete and practical guy, so it's why studying engineering, I went into bridges and, and construction. And I think, you know, seeing and what the reason why I love properties original way. And this job in the first place is you see progress, you see, I like to refer by like managing projects. And that's why I got into property in the first place. But the reality is that I was working 60 hours a week for my day job. And on the side of that, you know, I was trying, you know, starting the cyber soul of, of property. And, you know, it didn't matter how much I would wake up at 5am, you know, to look for properties, booked viewings during the lunchtime, and it's tagged them on the weekends, the reality is that I really struggled to find deals. And what we find later on is that it's, you know, it's the number one skill you need, as a property investor, if you can find the elder, I mean, it's a non starter. Quite frankly, you probably can't buy your one property, and then you're stuck, you know. So you need really good quality deals for you to keep the momentum going for you to keep on adding value. And I really struggled because what I was doing was scrolling through the portals, you know, like this, which is the main source, the main source of, of properties, randomly booking viewings based on the pictures, the layout, only to find myself, you know, stacking those viewings on the weekend in like week after week, speaking with vendors who are not motivated, because I could only do four or five viewings a week. And I, this is not enough to get lucky if you like. So week after week, I would just delay my property progress by which then took me 18 months of not achieving anything to you know, like to think to myself, There's got to be a better way. So we started to build the detail. So a friend of mine, got on board and you know, the property side and we asked his his brother, you know, can you which is like a techie guy, can you do a bit of thing for us where we just want to, we just want to see motivated sellers, we just we just want to go and view properties where they are assigned and the salary is going to be motivated. Initially, we was a very simple system, you know, that could qualify viewings, we will only view properties if the sale have fallen through multiple times, if if we're willing to go reductions, if it was listed with multiple agents, if it was an indication that there was a problem, basically, because it was for sale for less than what is slightly less sold or thing, things like that. And at the beginning, it was just thrown thing for us. And it didn't have a name, you know, no branding or anything, it was low software, you know, and, and fast forward, you know, 18 months or 18 months of me not really achieving anything despite, you know, doing all the right things on the left. And you know, like most people put all the efforts, you know, like, surround themselves with the right people get the knowledge, you know, with the likes of you guys. And but then it's really hard, you know, to get the initial traction.
Unknown Speaker 13:51
And then at 18 months basically of struggling. And then there was a true before and after, when we had what is no property filter, fast forward in about 18 months, and I was full time in property. I left my my career and my executive job, you know what, you know, this rich building company that I've been working for 14 years, basically. So yeah, it was there was really a real before and after. It's called property filter now, and not property finder, because the biggest problem we have is, is that there's a lot of noise, you know, there's a lot of properties out there, but how do you filter out all the noise and 90% of what's on the market is a waste of time. So you go straight with the lowing you know, straight to the low hanging fruit, straight to those conversations where the vendor is going to be, you know, motivated. Yeah, it's a fantastic story. They have the transition from you know, employee to entrepreneur and I think the biggest thing is the time isn't it and we speak to people every day. And when we asked him you know, what is it that's really driving you to want to build wealth and almost always it's more time and you know, it's the one thing we all know that you know, we can't get any more of and and
Unknown Speaker 15:00
and how much time you're saving here for people is just incredible. You've shown me the software, you know, I've seen just how powerful it is. And I'm excited actually for for everyone listening to, you know, be able to get their, their kind of hands on it as well. And we'll, we'll talk towards the end of people can do that. But okay, so you talked about a problem, right? And this is typical kind of entrepreneur, isn't it? You know, like, you experience a problem. And you think, right, okay, can't see anyone else who's solving it, what can I do myself, and I guess you really just were bootstrapping in those early days when it was. So it's interesting use you use the word entrepreneur, because I was nothing but an entrepreneur, you know, like you mentioned, a French guy who's, you know, socialist states, you know, kind of education and environment and spin tech, you know, I never, I never had an interview, you know, like, I got my first job, I had an interview that time, and that was it, you know, like you said, for life, you know, that was probably the opposite of what you would describe it as an entrepreneur. And I became so specialists in like, in the company, I used to work for that. Basically, I was comfortable, you know, and they couldn't sack me because they needed me too much, you know, so I was really, you know, like, really the opposite of what you would think as an entrepreneur. So all of this was also a journey on the side. So property was one of the vehicle that got me into entrepreneurship. But all of this happened to you know, me being a business owner of a tech startup right now. You know, it's not something that was running through my veins. You know, like, since I was 12, you
Unknown Speaker 16:26
think I was filthy? When I reached out for product, you know, like stuff? You know, like, it's not. It's not been in my, in my blood and brain since the beginning. So it was quite a learning. Yeah.
Unknown Speaker 16:37
And so and so yeah. Then we moved into, yeah, moved into crime solving a problem for ourselves. Really? Yeah. And then by accident, three, it happened that, because of the traction, we got so quickly, after that, it attracts attention in our circles, circles, people as to, Oh, can we have a look at it, and we started to share it with, you know, property, friends, friends of friends, people in our network, and then they start to refer people. And at the beginning was the Atlantic clunky or like, we just build it for ourselves, you know. And so, you know, the feedback we were getting was, okay, this is interesting, basically, there's something and we realised that there was nothing quite like it. And there was nothing quite like it, because a lot of the things we would find in the software that can give you like data, that there's nothing that gives you excuse me, nothing that gives you a framework, like an actionable framework where,
Unknown Speaker 17:33
excuse me a framework where you would know what you need to do today, you know, to progress, you know, what's the next step, you know, and the way it's been built? is all about, you know, what action do we need today, they aren't full of action to take to the end to progress. And it just it just quite unique in that way. And it's why people start to get results. No, other than us, because, you know, you always think there's something special about you, but there isn't, so when other people start to get more results and success, then the new then is when the traction started to kick to kick in, you know, really, and we, we now have more case studies of success of people finding deals, you know, then, you know, any kind of software, you know, around around property, so we are in a really good, really good positioning, with people doing really well from from it for where we are now. Yeah, yeah, well, considering you know, the company is still relatively young and you know, you've only really just soft launched not that long ago, you've got hundreds of users already, you've got fantastic testimonials. We've talked about the amount of time this is saving, and some of the other features and benefits that perhaps you know, if someone went to your website, what is it what are some of the key things that you know, are really helping people? Yeah, so, so this is where, you know, we are engineers and we are not really marketers, so people don't get it sometimes because we're not very good at explaining it. So I'll try to do my best but it's funny you said you know, like about valuing one's time so really what we've done is we we match and merge hundreds of data sources all you know all in one only one place in one platform and we've built it on on their own interface and on their platform that people can can use quite nice quite simple and the database we've we've done is really really excellent it's really above anything else so I've I've it's not me telling this you know I've heard this from so we've hired people from you know, you guys must know about copper brick to get guys who founded copper brick then went on to the only to disrupt right move they they raised like 35 million and to create a booming which was on for a few years we were building it and then became flat on their face last year. You know, they couldn't make it because it's really hard to compete with WWE, right? So I message all these guys and all the tech guys have their team and the most senior of their guys is not working for us. I think I was building up tutor
Unknown Speaker 20:00
So he was one of the one of the formed funding tech guys basically to build copper brick then went on to be the most senior one in boomin. And works for us. And I know, he looks at what he looked at what we've done, and it's a case, you know, I've been around this game for years and years. And, you know, what you've done is above anything else, you know, like, you know, if we only if we think about the portal themselves, you know, I'm not even talking about property investors, tools, people are done in their garages, you know. So really, it's the excellence of the database that we make available to people's all about finding deals. So it's all about all about finding deals. So it's very inefficient focus for property investors to find deals. And it's not, you know, it doesn't try to do other things. It's very niche and focus for that.
Unknown Speaker 20:47
And it's all about I don't find motivated sellers, generating leads, where you probably want to focus your energy on the top 5%, top 10% of property data around, and then a framework for you to convert these deals into great deals. And because it's a framework, because it's a step by step process, it makes success very predictable. People build very healthy pipelines. And then we weave deals. It's funny, because it's, people say, Oh, well, I'm not cooking right now, you know, so I'll come and see you in a bit, you know, but it's a bit like dating, you know, it's when you don't, you know, it's, it's when you don't need it, that it's coming to you all the time. So, yeah,
Unknown Speaker 21:28
it's great. And, you know, I think so many people will, will know, the updating of the spreadsheet, right, and you've got to keep going back in and checking the links. And you know, and then if you go on the site, you know, you're seeing the same old properties day after day. But you know, this is completely different, right, this is just pulling, as you say, pulling any update from absolutely everywhere on the internet. So all of the individual agents that are out there, as well as all of the sort of aggregated portals, and it's all there, right, exactly as you want it. And as I say, it just is so timesaver to go into more detail. So basically some of the features and benefits so we find most property full address, you'll have the full buscador properties all the time, you'll know when a property is so is the equivalent of in Rightmove Zoopla on the market, prime location, and lots of lots of portals all in one place. So when you're on property filter, you're going to look anywhere else. And we match and merge things, you know, so when, when, when you will on Rightmove, the listings will be organised by Agent listings to, it's why you'll have on page one, you'll have one property with one agent and page four, you'll have the same property with another agent. And people are very proud, you know, when when we find they find a match, you know, to them half a day, but
Unknown Speaker 22:41
so we match approximately, so it's all property displayed. And then we have the different listings layer on top. So a property will have multiple listings from different agents. And you can have the history of previous agents listing it and failing to sell. So it's a great way, it's a great, great, great way to find deals, because when you see that one agent failed to sell property, now listing with another agent, and sometimes you've got a chain like this three or four agents. So you can always speak to agent one or agent two who lost the instruction. And the agents are funny, you know, like, it's never their fault, you know, when they lost an instruction, so they will tell you everything, everything that's wrong about the property, the one that is demanded that the property is the property that so it's really gives you an edge, you know, with these things, and there's so many so many, so many so many ways with this. So
Unknown Speaker 23:32
the key, the key thing is I don't find much signs of motivation and, and building upon your data that gives you actionable, you know, like steps and, and sometimes, you know, people have grown, because it's been so upside deals, you know, last year, you know, the founders market, etc, which is now gone. But people have gotten a lot more addicted to the right mobile ads, and reacting, you know, trying to be the first one to your property. But the reality is that, you know, this is really like, obviously of the masses and do the work the mass is doing when you react to the right move. And and so you got all this light refurb investor crowd, you know, the homes under the hammer crowd, you know, like, just just go and look, try to look for this property when it's the market. But if you put yourself in the shoes of a vendor, you know, it's quite common sense, really. So they've played with the idea of selling their house for a few months now. Then they decide they want to sell their house when they go on the likes of Zoopla. And they ask for evaluation. And this is actually a lead magnet for an agent. Three to five agents will come and outbid each other to get their business. So it's like, oh, wow, we bought this property in the 90s for 40,000. And we cannot sell it for 350,000 Plus incredible, you know, never, you know, whenever expected with the value of their property is the reality. And then the the best bidder agent basically puts it on the market. And what happens you know, there's 1000s and writing videos that go out and everybody gets it you know, so on day
Unknown Speaker 25:00
Want to get to 1015 20 people during the property say, oh my god, you know, this is the agents was right, you know, and so the expectation is as high as it could be. And, you know, it's probably the opposite of a definition of a motivated seller, you know, so, so obviously of the mass and do the opposite, you know, digital right move alerts the pile in your email inbox, it's junk. It's not, you know, it's not good for you. But sometimes the agents are cheeky. So because we draw, and we record all the, all the listing history of the property, and this could be across multiple listings, multiple agents, and, you know, sometimes an agent can to recreate and regenerate some interests, where what we'll do, we'll, we'll delete one of the listings, and the real estate has a new ID No, it's a new one. And so what it does is waiting right movie triggers, that the emails to be sent out, and then you know, we are proud to bring to the market, this brand new, blah, blah, blah, you know, it is you know, and so we prosecutor, we, you know, we see all of that, you know, we see it coming off, on and off for for the day, and, and you see them playing playing this game. So, whilst, you know, it might look like it's brand new, you can, you can see that it failed to sell three times before that, we reduce those price a couple of times, and it's the second agent involved, basically, we will have a bit of a BS filter as well going on.
Unknown Speaker 26:19
It's really interesting. And clearly this is aimed for anyone who's investing in property for perhaps slightly, you know, strategies by to let HMOs What about other people? Who is this suited to? Is it suited to commercial investors as well? And what about people doing something like a rent to rent strategy? Yeah, so it's mainly been built for. So it's been built initially for the for us for the resi. So we've got two really good, really good data, really good features very good features for all the racy space. And then last summer, we bought on the commercial portals as well. And we've had people do, I think one of the one guy did three commercial to raise the deals for nonprofit theatres, putting all the money out on all of them. And then similar, it's a similar kind of kind of system where we, we match and merge things from different sources, everything's in one place, and then you we track, you know, in your leads inbox, you know, like, we identify the most motivated ones. There's like a motivated seller, banner, and then the MGS, the 100 property that is listed, it tells you okay, if you only do one thing today, go and look at these five ones, or these two, these two ones, and it's the same principle we've commercial, we have the rental data, but that's more of a byproduct of us looking for properties, matching properties that are for sale as well as to rent.
Unknown Speaker 27:37
And we don't really market it for rent to rent people. So it's more of a, we'd like to say it's more of a sales tool for sales investors. So people are more established in the in buying. And the truth is, the truth is that although property looks great, will stack as the rent rent, you'd have the agent in a way that has a policy of we don't do corporate lead. So I don't know whether people find rent to rent deals on property. But I don't claim there. It seems like, it's not really it's how people use it. But it's not really why we built it for. Yeah, yeah. It certainly covers many, many bases, that's for sure. And, you know, like any good business, it's rare that it's just one person, right? So there's always a team, you've alluded to some of the other people that you're working with some of the other co founders, and this is where it was interesting. We were talking the other day about wealth dynamics, right. And, you know, both taking wealth dynamics, and I know you've done some education in the past, as well, we're talking about some of those other people, you know, in the team in terms of coach and mentors and support, but tell us about, you know, the dynamic with the people that you work with, and how those wealth dynamics, you know, work so well. So I got into property with my best man a few few years ago, so I think five years ago in UK, and,
Unknown Speaker 28:54
and I remember his speech at my wedding, and he says, we've given leadership and my sense of organisation, we've done this, this, this and that, you know, so we were like, he was organising the early days, and I was bringing in people basically, and we did so many things throughout uni and or Early professional life and, and stuff like that. And we never understood why the synergy always worked so well, until we took a well dynamic test. I don't know, it was fascinating, I think, and, and then it's like, oh, wow,
Unknown Speaker 29:24
Blaze is a steal. And I'm like, a star is more of a lord mechanic. And then it just works really, really well. You know, and, and I, and I would say anybody listening to this, anybody going into entrepreneurship of any way, anyone, anybody wanting to understand more about life, you know, like, have a greater understanding of people, you know, how people work and interact with each other. I mean, you've got to picture the wealth dynamic test, just, you know, just to understand yourself as a start, and then it will make a lot of sense, and then you'll stop, you know, like, swimming against the tide.
Unknown Speaker 30:00
Do you know for certain things and tasks, and then you understand the team's dynamics, why people work well, with one another. And as a business, there is no way, you know, I could do this on my own there is I am not concerned of my competition, because they are one man band in their garages, you know, building like, stuff around data on property, but they don't stand a chance against a team of founder with complementary skill. And so I was off for the last 10 days, because I had a baby, we were in neonatal care and things like that, we just came out of it yesterday. And the business is just steaming ahead, you know, because I've got other founders, you know, the other, it's not even people on the team, you know, it's people that are not driving, it's just as odd as me while I sleep, you know. And, as a business, I mean, you are setting yourself up for failure, if you go on your own, and you hire skills and people and deal with turnover of training and and entrepreneurs I've come to, to observe and learn, you know, we are like in the cloud, we are 100 miles an hour. And it's really hard to get people, you know, it's quite hard to get people at our pace, and we can be impatient and things like that. So you can, you know, by basically splitting two ways or three ways a business idea, you could go 100 times faster, further. So it's a no brainer, you know, like the size of the pie you get is just so, so huge. And it's not like the business stops when you stop, it just goes on all the time. Because there's always someone someone out there. So find people understand wealth dynamics, for yourself, understand teams, teams dynamics, to surround yourself with people you share value, with, you've got complementary skills, you share
Unknown Speaker 31:45
a vision and goal. And then you know, and then even emotionally, you know, if you think of burnout, or tiredness or exhaustion, you know, like, you'll have ups and downs. And what you want is be with other people who've got ups and downs, but the likelihood is, nobody's got downs in the same time, you know, so it's always so hard, it is always so high, because you just a few of it. And I've seen so many one man, one man band, no one person been entrepreneurs, where everything stops, when they burn out, everything stops when, when they can't do it anymore, everything stops when, finally, after two years, they want to take a bit of holiday, you know, and so it's really setting yourself up for success, teaming up with people, and I know, one of the wealth builders, pillars, jayvees, and things like that. So it's, there's no way we would be where we are. Without this understanding. And there is no way we would be continuing at the pace we are as a business without this understanding, and the team. And then it's also being really brutal with your
Unknown Speaker 32:48
so we are engineers, we are not marketers. So it's really understanding your, your strengths and weaknesses. So we can build the best product, but all we do, how do we how do we bring this to market, you know, so. So it's where we don't find the need that we needed a bit of a non target someone to help. And so it's where a year ago we had, so because of my network, so
Unknown Speaker 33:13
surge introduced me to punish. And if Ken was John to was our first investor jumped two years ago, and E is expertise is in property sourcing. So he, you know, of 1012 years ago, he had a company training all the educators basically around property sourcing, we used to solve like 600 deals a year, you know, that was back back in the days and,
Unknown Speaker 33:38
and so this expertise, and this network, combined with his, what he's doing now is scaling, startup companies. So he's been helping other founders in the tech world, doing partnerships and stuff. So these are two really strong skills we needed. And we find it in one person, which, which half an hour drive, you know, 20 minute drive from where I am, you know, so it's been, we've gone on quite a bit of a journey to find an advisor, as you know, like a non exec, you know, that can that is really, because everybody wants to help you, when people see, you've got you've got traction. So you'll have a lot of people reaching out to you. And then you think, Oh, well, they seem like they are an important person, they've got a name, and so on. But, and you say, Oh, well, you know, such and such wants to jump in. It's great, you know, but the reality is that your association with their name is is nobody cares. So what is your advisor going to do for you in your business? And if he's just incredible, you know, like, he's working as hard as us, you know, it's as an investor. And so it's really, really, really been great. And there is no way we'd be where we are right now if we didn't have a team. So we have three co founders. So me my best man and his brother, so he's always the tech guy. And if you go into tech business, if you want to be like a tech startup or something like that, you can do
Unknown Speaker 35:00
It we've known from the, you know, like non tech founders, but it's, it's really, it's really hard because you are at the mercy of all those, you know, like those developer, you know, companies and stuff that build stuff for you and send you a bill and so on. So we build everything, we build everything in house. So people thought were a bit crazy, you know, at the beginning, because it's not the fastest and so on. And we invested a lot upfront in the infrastructure. So we've built it. So it didn't make sense what we did, basically, so most people with a startup they, they create, like a, like a quick MVP that holds on with, you know, like,
Unknown Speaker 35:39
you know, you call this like, sellotape and wires and intermingling away, and it's great, because they can bring it to market really quick. But we, we we tested, we had a lot of certainty of what we what we were building would work, because the risk is building something nobody wants. But we because he worked for us. And he started to work for people in our network. And we could see the traction people get, we thought, okay, if this gets people results so fast, we were onto something, you know, like, so we invested a lot. And we front loaded the building of the infrastructure, which is not common in startups, because you can't really afford to do that. But we could because we had, we had, so the founder did everything.
Unknown Speaker 36:24
For the first few, the first few years, we could do it in house, we didn't like spend a lot on external companies, which puts us in a very good position where the quality of the databases is the best out there. You know, it's scalable, it's clunky, it's not, you know, it's not clunky, it works rewards fluid. And the interface, it's, it's simple. And now we can just, we can add more people very fast into the platform without without it breaking basically, like we've seen others in our space, you know, struggling with maintenance, or struggling with data being out of date or things like that, because very quickly becomes a monster, you know, so we've built it with division, where we want it to be, you know, with 10,000 people on it, you know, so yeah, yeah, yeah. Now, another friend of wealth builders that I know you've been working with is Daniel Hill, on property entrepreneur, and Daniel's featured a couple of times on wealth talk, actually, back in episode 155, and 172. So, you know, how did that come about, and what kind of support has done been able to give you, I'm a student of them, so I've been on his property entrepreneur course for three years. So so it's really helped me with this entrepreneur mindset thing. So, so when I, when I met Dan, and I went to his blueprint event, like three years ago, now, I was doing full time, full time, working full time, and I was lying to myself, you know, I was doing HMOs and stuff, you know, a singlet and HMOs. But I was too comfortable in my, in the job, it's really hard to.
Unknown Speaker 37:50
And then he taught me about journaling and stuff. So I've got
Unknown Speaker 37:54
I've got stacks of them journals, you know, with me, here. And this is where you write things you write, you know, this is really I had this big work and introspecting work on myself, where I decided, Okay, let's go, let's go for it. Let's go with with property. And we really helped me help me with that. And, and he's helped me ever since you know, you know, as part of the property entrepreneur, things and, and stuff like that. But for me, it was really, this rewiring my brain from from this operate entrepreneur, and you can maybe see behind me, so these are, these are property entrepreneur board, you know, you're off board. So this is 2021, the year of going all in the year of transforming the triad twins, twins, two, and this year is the year of achieving orbits where we launch something into space, but we have an idea of a balance between with my personal life as well with the baby just coming home yesterday. Excellent. Everything begins with a plan. Yeah. So you know, we've talked about the software, we've talked about the benefits, who it's for, and I guess, you know, in terms of your own personal wealth building, and we've talked about you know, property is one of your strategies business now as a strategy, you doing joint ventures, you've also been raising funds for the business as well, haven't you? So, you know, maybe just talk about what you did there to get some. So it started in property for me so as I sell beginning because I like, I'm a practical guy, concrete person, I like I like that in UK, I can, I can add value, I can refinance, I can control the error, you know, from the outset, I really like this predictability. So, you know, you make money when you buy, you know, so you know, I like that. So compared to giving money to a fund or something like that, where maybe you get maybe this year you get that much maybe next year you lose you know, so I didn't like that.
Unknown Speaker 39:51
So I like property for this to control I have on it, and which was going to interrupt, but she at least asked me the other day when you came from France. You can
Unknown Speaker 40:00
Believe it in the UK, like how, yeah, everyone wasn't doing property. Right. Yeah, I mean, I mean, in France, we don't have interest only mortgages, we can't add value and refinance. So we can't raise more equity than the debt we have on an asset. So we can only get a loan both but by another, another bank, basically, after it comes with, there are pros and cons as well. So they could, most of the mortgages in France are zero deposit, but they are all repayment mortgages. And but there is no way someone can get into can replace an income for property in a matter of months or years.
Unknown Speaker 40:38
In France, because all is repayment, and there is no way of generating monthly profits from the difference between the cost and the rent, you know, and the way the system works in France is yes, the interest rate will be lower, there will be fixed for a lot longer, like 20 years, 25 years, like we have, like bites with mortgages that 2% You know, for 20 years, you know, but it's all repayment. But the thing is the, the repayments, sorry, the rents don't cover the repayments, so you have you are stuck in a job, and you need if you want to scale your portfolio, you need to have evolution in your job. So that you can basically pay for the properties, you know, so 50 euros, 100 euros a month, just to, you know, just just to subsidise it. But the good thing is that in 20 years, you know, like, he, you know, like you're laughing because you have no debt, you know, anyway, so it's a bit of a different culture. But in terms of having your cake and eating it, and having it right now,
Unknown Speaker 41:36
you know, interestingly, mortgages are magical here, and the fact that you can refinance. So the first delay we bought with property filter was on the market for 250.
Unknown Speaker 41:47
The, I think it was reduced a couple of times down to 25 listed with three different agents. So this is us matching and seeing that there was a story. And then, at the end, we went direct to direct to vendor on it, we only spoke to the vendor, and we bought it for 173. And it's now worth 450. Which means, you know, like you get old money after and
Unknown Speaker 42:10
you know, there was some refurb cost, you know, of course, but to make it a an HMO, etc. But
Unknown Speaker 42:17
yeah, you can do this in in France, you know, I could, I couldn't use the same, you know, the same, the same cash on one project, and another one and the next one. I know, we've, we've recycled our cash on a few projects now. So yeah, that's quite, that's quite a bit. Yeah. We say in France from like, parajumpers don't go on the FL tower. So you know, you guys don't realise the Portugal you're sitting on, you know, so yeah, yeah, frankly, I can do it, you know.
Unknown Speaker 42:43
Interesting point. And again, something I think Dan picked up on and talks about is, you know, sometimes you've got to design your life in order to get the result you want. And, you know, that means sometimes, you know, stepping into a different area, a different location, or changing your habits in order to be able to start building wealth. And I think that's a great example of how that's really, really helped you to accelerate things. So it's really how it started, you know, like with property and getting a bit of traction in property, and then learning to be an entrepreneur. So Dan helped me quite a bit.
Unknown Speaker 43:16
And then, and then when we incorporate, yeah, with proximity, then it's, it's quite different. So it's business and, and it's quite different. It's quite a different beast altogether. And in technology, it's it's all you know, it's quite different as well. So we did, because we are, we are from the, the equivalent of a Yorkshire manual in France. So I'm quite, I'm a bit tight, you know, so, so from where I'm from, so we bootstrap here. So it's what we do. So we, we like to engineer or environment so that it's, it's a bit challenging, we burn the boats, and we bootstrap your own because it's life or death, and we need to mix it up. And and I and I think it's the accountability I needed and it's what we do so, so initially, what we, what we've done, we just so in terms of people starting businesses, if you need funding, so, there are some something called Startup loans you can get which are quite quite cheap loans, you know, especially in the current climate for businesses, they come with their loans, I think you can you can borrow 25,000 in your personal name per director for the use of the business. So, if you are two directors you know, we can have 50 grand freedivers so inside brand etc. You need to be UK resident
Unknown Speaker 44:31
and then you you present like a business model or something like that, you know, it's a game you know, you play you understand the rules play the game,
Unknown Speaker 44:39
make it work, and but they are a very high success rate and they you know, they want us government subsidised scheme. And the private people you speak to, you know, like a controller dealing with the bank, they want to make it work and also they'll advise you on LTU but
Unknown Speaker 44:54
really you'll have to you will have to really be
Unknown Speaker 44:59
a
Unknown Speaker 45:00
I'd say like,
Unknown Speaker 45:01
be very.
Unknown Speaker 45:03
Okay, I forget the term. But basically, you can just understand the the rules of the game field, the spreadsheet and stuff like that and make your 80 percenters of people to get the get the role. And actually, you're able to start tonight's replayed over five, five years or six years, I think five years, you can have an interest free period. But basically is for trading business or form just to kickstart things. And beginning and you need to be confident that you're going to make the money to pay back the repayment of the loan. So I think we did this in two tiers, we had an initial tier with like, we took 60% of the money at some point, we had an interesting interest free period for a while. And then as we started to get revenue with the this allowed us to unlock the second, the second, the second tranche.
Unknown Speaker 45:51
And that's how we got started. And then as you start to get traction, we use the CDI scheme. So I know for some of your listeners, that can be interesting as a funder as well. So it's really interesting. So it's for early stage, I risk startup businesses, you, you are incentivized, if you invest, and you get in your name, so you can't invest from a company, or a group structure or anything like that, you need to come from your name, you can.
Unknown Speaker 46:24
And that's our new subscription of shares on the business, you can get 50% of your investment back of your tax bill. So typically, some of our investors we put, like 20k in to get a small share in the business. And the cost to them is 10k. Because 10 know, half of it was written off by HMRC. on their on their, on their tax. So if you're paying tax, and you you know, you've got cash around, it's, you know, you still do your due diligence in what you invest in, but it's quite, it's quite interesting. Interesting. Yeah, no, no, no, it's really, really good advice there. And multiple streams of income for Yu Gi on property, business IP that you've created joint ventures. So, you know, really following what we talked about a wealth builders, which is, you know, diversification, it gives you confidence, it gives you peace of mind. And it's exciting, right? It's learning. Yeah, so we're gonna have to plug it downhill again.
Unknown Speaker 47:27
So basically, something that flipped my head around with a property entrepreneur is this very simple concept of what he calls the wealth power pyramid. And I think you must have talked about this in your in your wealth talk. And at the, at the business, you got cash flow, profit, and assets. And what I realised is that we've cropped here was, you know, it was all mixed and blurry. And so it's mostly multiple screen multiple streams of income, but for different purposes. So I know, got my, you know, my personal lifestyle and bills paid by, you know, like my salary that comes from the trading business, you know, from Prop filter, and then I've got the property business that compounds you know, like the, the rent, you know, the rents, you know, it's just gonna use be used to compound and buy more property. So separating it, where before it was bit more, you know, like drawing, drawing money from property and things like that. So you can have a cash flow business, you know, from No, like, really in property.
Unknown Speaker 48:26
Or you don't need to, you know, so for us, it's all our we've set it up. And then some of the props projects we do in joint ventures, some of it are in our name, some of it are under other companies, for different different purposes. So but the HMOs in one company, singlets, in our company, and then we're offsetting some of the some of the costs by getting more and more your own name as well. Some of the singlets Yeah, yeah, I could talk all day to you game is it's fascinating, you know, hearing your story and the way that you've structured and you're approaching everything, but for our listeners, I'm sure they're just eager to, you know, have a look at property filter and understand what it does. So what we've done, we've put together a page, which is wealth builders.co.uk, forward slash property filter, where there'll be a link where you can go and watch some videos, you can get access, but we're also going to add some additional support and benefits by following that link. So do head to wealth builders.co.uk forward slash property filter for all the information as to how you can learn more, and get started and get some extra support from ourselves as well. So, Gail, it's been an absolute pleasure speaking with you today. And you know, I know you've literally as you mentioned, just had your you know, your your first child and I can hear a few little cries from next door. So and
Unknown Speaker 49:45
I'm sure we'll be we'll be having you back on the podcast again soon to share some more exciting updates with us. Yeah, I'm your pleasure. Thanks so much for having me, Chris. And looking forward to see you guys and work with you. When you sign up and try prop tutor out. Thanks for listening
Unknown Speaker 50:01
Okay, I hope you enjoyed listening to that conversation, Eric Gill, and I certainly enjoyed that one. And Kevin, we will dive into the many lessons that I think we can pull out of that in just one moment. But before we do that, let's pull out our latest review on Trustpilot. And not read out any for little while. So Stephanie has kindly left us a few words, and Stephanie says, joining wealth builders has given me the confidence to progress my wealth building journey through the property pillar, when I joined, I was stopped trying to buy property locally, where, where that was unaffordable. And the connections I have made through wealth builders has enabled me to take the necessary steps to move forward. And I'm thankful for all the support from my coach, and other members of the community. And I'm excited about continuing my journey through more property investment, including the use of a SAS, you know, there's a few lessons just in that review. I'm sure some of those will be equally applicable to the interview you had with Keanu as well. One of those is the whole idea of having different people with different perspectives giving you something else to think about. Because more often than not, when we're trying to build wealth, we're trying to break the current comfort zone that we're in the current routine that we're in, whether it's in our job in our businesses, and this more often than not, not always forces us to be different, forces us to think differently. And when you do that, it causes tension. And that tension is best overturned. When somebody else can help you hold it, when somebody else can help you, in the end, break it. So that that that elasticity completely then breaks for you to be free to pursue another direction. And this is true of Stephanie. This is true of Keon. But it's getting people and surrounding yourself with people who are thinking on your side. And that's tough, isn't it, because there's no shortage of people who will try and deprive you of your precious money. And of course,
Unknown Speaker 52:13
your precious time, which is often the big challenge. So the more that you can plug yourself in to a community that you can trust. And of course, I'm advocating wealth builders as such a community, but there are others, as well. But also surrounding yourself with people who've got expertise that can make a distinction, give you an edge, sharpen your saw, so that you can make the changes more quickly. And that's definitely true. Stephanie, and we've worked with Stephanie. And you can see it's obvious in the experience, Guillaume had as a engineer first, you know, and what did he say said, I thought that was my job for life is my childhood dream.
Unknown Speaker 52:56
But be careful what you wish for? I think he said, Yeah. But in reality, it's not about wishing for that it's we all change over time. And I think inevitably, when you decide to become an entrepreneur, you've got to think about value. And this is almost a point I made about the children, isn't it, you've got to see value and understand value to be able to create value. And Qian has done a great job in looking at this country, looking at this market, and looking at what's going on to spot opportunities that his particular business, I think has done an outstanding job in being able to help. And I think that the proof of that, of course, will come from his reviews. And what people say Do they get the result they want from from availing themselves of the services of his business property filled? Yeah, well, the early reviews are definitely good. I've seen those.
Unknown Speaker 53:53
And we talked about people becoming accidental landlord, Sergey, or more, most becoming the accidental entrepreneur there. But a really good lesson perhaps we can sort of hone in on is how you need to validate your business idea, because a lot of people put time, energy money resources into something that they're very excited about, only to realise that nobody else is excited about. So there's a way to validate. And that really begins with obviously, identifying a problem first and foremost, and games certainly did that. But then you've got to make sure there's a problem that is a problem for enough other people as well. So there's we're going to have enough of a market that obviously are willing to spend money and that ties into one of your lessons, Kevin about finding a tight niche as well. Yes, as far as wealth builders are concerned, we know that we are not gurus here, we're healthy and open minded guides, almost acting a bit like a financial gap, calling in experts whenever you need to. And that general knowledge has been built up over 30 years. So I think we've got some credibility.
Unknown Speaker 55:00
To be good guides, but looking for outstanding people who are outstanding in a niche, that's the language I use, who do you know who's outstanding, not mediocre, not decent, outstanding in their niche. And that's what we're trying to do is build our partnering relationships with people who are outstanding in their niche, but you can't be outstanding until you start. And because you've got to discover your niche first. And then you have to, as you say, validate the business, get a minimum viable product, get that tested. And more often than not, the best way to test it is to is to allow some people to avail themselves of your service, so that you can build that reputation, you can build those testimonials. So you don't have to worry about the pricing at the beginning. You just get people to test it, get people to use it ironed out your lessons.
Unknown Speaker 55:50
And that's what the Tom's done. And to a certain extent, we did that in and wealth builders way back when we started it, we tested it with people and said, Hey, this isn't perfect. We're gonna get better at this. But this is the first time we've tried to create it as a series of step by step lessons, will you give it a go? And will you give us feedback. That's basically how we approach problems. And that's in to a certain extent, how Guillaume is doing, well give a nod to all of our founder members, who is still still with us, most of them even today. And, you know, the the Academy and the programme that we created is very, very different now from what it was when we launched back in 2019. But yeah, and the other thing, really important is anyone going into business to I would recommend, try and find somebody else to go into business with. And it's very, very difficult when you're trying to do everything by yourself. And this ties in with wealth dynamics, as well. It does. I mean, the interesting issue with wealth dynamics, which is your sort of your compass point for self, and then you balance out the north, south, east and west, wherever you are, is difficult one though, Chris, I caveat your thoughts with with a lesson though, that it's good to find people where you can get distinctions, you don't always have to go into business with them. Because you can get distinctions from a coach, you can get distinctions from your, let's call it the founders, you can get distinctions in other ways, because there's a big danger. When people set up businesses, and I've been I've fallen into that trap, not just once, Chris, but twice,
Unknown Speaker 57:26
where I was enjoying the interaction with somebody else. And then they didn't end up working as well as I thought, and not getting the right agreements in place, not getting the right documentation in place, doing things more from the gut call. And I think that's a lesson I've learned being much more in the dynamic space making got calls more than technically accurate legal calls, and I've paid the price, you know, not a massive price, just relationship price, really, of having to get out of two relationships when which weren't working for me. So I think you need that time to make that determination. Just for the to reassure the audience. Chris, you're not one of them can say less hope is that I'm lucky?
Unknown Speaker 58:14
Well, you know, I'm delighted that we've done correct legal guidance and agreements with you. And with poor Brooks, again, who's invited to be part of the board of wealth builders and delighted, Chris, that we've done that. And actually, we gave ourselves four or five years to do that, didn't we? So we didn't just come in. And, and not that we're sharing too much here. But it wasn't come in here, some shares. It was come in, let's see how it works. And then we gave ourselves plenty of time. And we've done that. So I'm, I'm thrilled with that decision. I won't make the same mistake again. So and, you know, I would give that bit of guidance to anybody, yes, work with other people. But when you go into business with people, literally, you're in business with them, like a marriage for for life. And you want to make sure you've done all the right, legal and financial and relationship preparation to make that work. I know it's early days for GM, and I'm not suggesting anything that would go wrong there. I don't know anything about that. But it's just a general bit of guidance that I would give having learned lessons myself. Yeah, absolutely. And joint ventures, of course, is one of our Seven Pillars of Wealth, and we teach our members how to do joint ventures correctly, and how to be safe. And it always begins with building that relationship, not rushing into things. So you have some key lessons there. And another important factor of any business startup is funding and money. And often businesses run out of money and that's one of the downfalls. So, Graham mentioned some investment schemes that, you know, he had used as well. So, what's your experience, Kevin, of people, when they're looking for funding for an early stage business? It's very difficult, as you said, because you know, the minimum viable product is normally what a funder is going to be looking for. Is this
Unknown Speaker 1:00:00
Some evidence that enough people will demand this. So you need really good preparation. Not not unlike a sort of a Dragon's Den scenario really, where you need some numbers and you need to have numbers or you or you need people who are are willing backers. Now, obviously we can, within joint ventures, you can help yourself, because there are ways to access your pension to help a business idea, for example, to concept a SAS and you heard Stephanie mentioned that and many 1000s now have been helped to be able to help themselves.
Unknown Speaker 1:00:33
CDI s which is just a form of
Unknown Speaker 1:00:36
enterprise investment scheme. But seed means raising seed capital as a way to do it. I've seen people do things with crowdfunding, including crowdfunding for for nonprofit. So there are many ways so learning how to access funding, and not least if you've got joint ventures with, with people who you do want to work with, then that would be a reasonable expectation that those people bring something to the table, whether it's, you know, wherever the funding come from. But the other lesson though, Chris, on funding, I would say here is
Unknown Speaker 1:01:14
essentially in when it comes to property, which is beyond business.
Unknown Speaker 1:01:19
You know, we've we've written a little what would you call it?
Unknown Speaker 1:01:24
A infographic? Yeah, it's like a worksheet, which helps property investors. Yeah, yeah. So we've written one, which is called the Seven F's. So the seven stages of a successful property business, ranging from the finding the property in the first place, and which which in the end, if you don't start, you don't ever get to be successful. So I think the very essence of property filter is helping with the finding. And he very ably demonstrated some of the tricks of the trade the estate agents play to fool people into thinking. But he did mention this, this whole idea of, or if you didn't mention explicitly, you can apply it, which is you have to understand the mindset of the,
Unknown Speaker 1:02:17
let's say, the motivated seller. And a motivated seller is one who wants to achieve a result. So it's in the same way, you have to look at value, you have to look at what value you're bringing in the techniques to, to bring properties to almost look like they're brand new listings, and so on. And I liked the way he described the psychology of an initial seller who, when you first bring their property to the market, they're full of expectation full of optimism for what they'll get, and they're not motivated at all, they're still in that early glow of hoping they're going to do a lot better. But anyway, the seven stages, Chris, and I won't go into the detail of them, but I'll mention them just to see if there's enough interest, we could, we could create that as a download for our listeners to the podcast, which is, you know, find it the art of discovering opportunities in the first place, then fund it and funding comes very quickly on the back of that as a whole different set of skills around funding, fix it, do whatever work needs to be done to add value, fill it, well, let's assume there's a tenant or tenant type. So get the property yielding a return, then flow it in other words, getting to a point where you're creating a flow, you're multiplying that activity, that action, you're turning wheels, as we turn, as we turn it, you then create a formula for your own success. So that you know how everything works. Now you systemize it. And when you do that, it's freedom. Because you don't need to be involved. I see so many people are trying to take shortcuts on that journey. You know, they'll try and find somebody else
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to find nothing wrong with sourcing, but you've got to source or use sources with integrity, and with a reputation. So many examples of people paying for sourcing or paying for fixing up properties,
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which really, they've been scammed out of money. And so it's very, very dangerous. So you must must spend time in your due diligence with every relationship on that journey. And don't try and accelerate that to the point of cheating and hoping somebody else is doing a better job. You have to learn the work that needs to be done to then ably delegated because delegation with responsibilities where this is at, not delegation that turns into abdication. And we see that in all aspects of life and none more. So I think Chris, in our wealth building pillars and pensions and investments, we see people
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giving their money to third parties hoping that one day someday things are going to turn out. And invariably they don't. Yes, thanks for sharing that seven F formula there, Kevin and think the formula the second to last one as well as where IP can be created, isn't it? Once you've systemized and packaged it up, then you can ultimately generate an income stream from that as well. If you've got the right or a franchise or licence, there's so many different ways you can create value once you've got the formula. But you have to nail the formula, not just hope the formula works because it's not formulaic. But let us a genuine system that's been tied in tried and tested many, many times from all different points. make that available. Should we? Yeah, sure. So yeah, if someone would like to download that, if you're listening to wealth builders.co.uk forward slash seven, F, F for Freddy F for formula. And we will, yeah, we'll make that available for you. No problem at all. And so, so I think that probably wraps things up for today. Kevin, did you have any final points you'd like to make? No, I think you pulled out all the good lessons. And we've touched on so many of them today. And
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yeah, I think it's been a good episode. And I'm glad I'm back and participating again and looking forward as we inch ever so slowly towards episode 200. Feels feels like you know, we need to be celebrating or doing something to under Chris. Absolutely. We will have a chat next time we see each other which will be tomorrow, in fact, with each other. Maybe we'll have a little chat about that. Yeah, let's have a party and and we met for a bit of golf as well doing way last week. So that was nice. Some of us play golf. Some of us just whack some balls wildly around the course.
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always room for improvement. Yeah. All
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right. You know, you're turning up and you're participating and that's great. And, and Paul, God bless made a blinder two birdies. Yeah. Wow. I've never seen him get two birdies before. But what an impressive round. Yes, that was fun. That was good. Yeah. Good to have you back, Kevin. And we hope you enjoyed listening to today's episode. If you did, why not share it with somebody that you know who might also find this helpful or someone who's in property. And just one final reminder, if you want to find out more about property filter, head to wealth builders.co.uk forward slash property filter, and you'll be able to sign up for a free trial and even get a little bit of an extra special wealth builder discount should you wish to give that software ago so all the details the video you can see exactly how it works, what it looks like, and sign up for a free trial to give it a go. So yeah. All right. Take care, Kevin. We'll catch up Same time, same place next week. We will do indeed. Until next time, my friends see ya.
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We hope you enjoy today's episode. Don't forget that we are constantly updating our resources inside a wealth builders membership site to help you create, build and protect your wealth. Head over to wealth builders.co.uk/membership right now for free access. That's wealth builders.co.uk/membership