In today's episode we are joined by Paul, Co-founder of the platform Nimbus Maps, and he tells us how the software works and how you can use to it to leverage your time to find better investment opportunities.
This week’s episode of WealthTalk is all about leveraging your time using systems and technology. Paul is a co-founder of the software platform called Nimbus Maps - a culmination of decades of property experience and a deep-rooted “technology first” approach to problem-solving. Tune in to listen to Paul explain how the software works and how you can use it to find better investment opportunities.
Resources Mentioned In This Episode:
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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.
Christian Rodwell 0:19
Welcome to Episode 110 of wealth talk. My name is Christian Rodwell, the membership director for wealth builders. And I'm joined today by our founder Mr. Kevin Whelan. Hi, Kevin paraguas. Good to be with you. Again, I think we're still on the leverage part of the recurring revenue roadmap today. Indeed, we are right in the center step five of our nine step roadmap to help people move from insecurity to independence. And we have a guest today, who is the co founder of the software platform Nimbus. And that is Mr. Paul Davis. So we'll be hearing from Paul in a short moment about how he went about setting up that business. And obviously, what members can do to help property professionals but probably worth just mentioning the wonderful webinar we had last week, Kevin and thanking everybody who joined us for the launch of the brand new wealth builders Academy. We had a great evening.
Unknown Speaker 1:11
Yeah, very good. I really enjoyed that, you know, hundreds and hundreds and hundreds of people. So we're thrilled to have a chance to explore things. Obviously, with webinars, you don't get a chance to interact personally, although people got a chance to post their questions. That's nice. And then don't forget, I'm regularly on every Wednesday, Wednesday, wealth Wednesdays on clubhouse. And now Android and iPhone users can conspire together and have a conversation. And we're always there for one hour on a Wednesday morning, just to talk all about all things well. So if you've got a question, then tune in to that. But Chris, lots of lots of good questions, lots of good people, and lots of new members that were just thrilled and delighted to be kick starting a whole new program. You know, and you've worked hard to put it all together. So thanks again to them.
Christian Rodwell 2:05
Yeah, yeah, really, really welcome to all of the new members in the academy. And if you didn't catch the webinar last week, don't worry, because we have got the recording still live and available for you to go back and check out and you can go to wealth builders.co.uk forward slash Academy launch, and watch the replay. And until the end of June, so the 30th of June, we're offering a massive 500 pound discount off the membership fee to join the Academy. So go and check it out.
Unknown Speaker 2:35
There enough, always worth checking out anyway, you know. So just to see a little bit more, we dive a bit deeper into the roadmapping a little peek behind the curtain not not as many pieces. Perhaps we might do next time Christmas, we saw some things that we thought were actually we could show them a bit more can we say well, we'll do another job next time. But But coming back to you know, we're just talking about that, you know, having a large number of people on on zoom. And that's great leverage of technologies. You remember, the days before who's zooming who, you know, you're always worried about arriving late, your traffic was bad the public transport system was bad. You had to put on your best suit, you know, all these things. And yes, you could leverage your time if you were commuting but crumbs get into meetings was a complete pain in the in the Cahoots. And now you know, we've got all this technology that just brings us together. Of course I do miss shaking hands and clinking glasses with people, Chris. But crumbs were so much more productive now than we've ever been. And I think Paul Davis does a very able job of describing how you can be super productive in property using Nimbus.
Christian Rodwell 3:45
So why don't we not waste any more time. And let's head on over to today's conversation with Paul Davis, the co founder of Nimbus. Paul, welcome to off talk today. Hi, Chris. I doing? Yeah, I'm very well. Thank you. Good to have you on. And we're really focusing today on you know how you can use technology in business and specifically in property and hear about your journey of setting up Nimbus. So let's kick off with a little bit about what is members and your relationship to
Unknown Speaker 4:15
Yeah, totally. So I'm going to go from zero numbers. And what we do is we have a bunch of online tools that allow you to find properties, basically, then check where they work. And then also connect with owners, either through agents call market, whatever, or indeed through that letter campaigns try and drive off market opportunities. So kind of in a nutshell, those are the kind of the key things is finding stuff is checking if it works and then unlocking those things off market basically. Yeah.
Christian Rodwell 4:42
And how old is the company.
Unknown Speaker 4:43
So we're now about six years old, as a as a business as a sort of a technology business. But what's kind of interesting is that the technology and the ways in which we do these things we've been doing for nearly 10 years now actually and it's been a rather interesting journey. You've got to get into This point and how that sort of became a thing really?
Christian Rodwell 5:02
Yeah, so might help them just to understand a little bit about what you were previously doing and kind of where your interests and experiences came from.
Unknown Speaker 5:09
Yeah, totally so. So we, we started off actually as property investors. So way back when I called a model was ready to buy high yield and commercial assets. reason for that, obviously, we could, we could drive a return and maybe 10, to up sell something out of a commercial building, put some debt in place to four or 5%, something like that. And obviously, every pound we borrowed, we made five pence on the return on the money, basically. So we sort of got all of that in the early days, and I'm dissing Asset Management along the way to kind of drive returns and this sort of stuff, but some of the stuff we were buying was was kind of quite tired. And that's when I get the high yields are some of this stuff. And of course, the challenge with that, with that sort of stock is that, if you, if you don't knock it down, it kind of actually falls down because I've reached the end of its useful life. And so we sort of got pushed into development, sort of a sort of one or two sites that we sort of that that hit that that kind of point where they were sort of leaky roofs, all this kind of stuff that needed needed redeveloping. And so so we sort of started trying to develop these these sites out and sort of have a relatively difficult time of it with with certain sites that we we chose that then, sort of by definition, we kind of worked out how we knew how not to develop sites, because of where we started. And that then we showed how we should develop sites and, and we, we then moved into development in a much bigger way, which then also, ultimately, just through sort of one of the sites that we own, we ended up working with all the pop companies. And and they're kind of challenge was led grown very quickly through the kind of the early 2000s, kind of, you know, boom, boom periods through in the UK, and, and to lots of people going out spending money and eating and drinking and this kind of stuff. And of course, towards the end of the 2000s, we had smoking bans that came in, we couldn't get public smoke. And so that kind of hit their their trade pretty heavily. We then had Lehman Brothers go bust in America, and of course, that the global credit crisis sort of followed off the back of that. And that meant they were sort of selling assets and this sort of stuff and really wants to try and as we're selling those assets, we want to try and make the most out of them. So we stopped them working with a bunch of the big pop companies and working out ways in which we get we can identify those, there's opportunities in their estates. And that we did through through data, because the stakes were kind of very big, but with very small 50 das 50 assets, which meant that sort of trying to work out what the right approach with them was was actually kind of sort of there was going to be having you sort of look at the whole the whole lot together, when you look at individual assets that the money was not massive network of trying to get the sort of big developers to sort of work on this stuff was was difficult. And of course, the money you could spend to analyze it was quite limited to so it's our way of using data technology to do all of that. And, and that then kind of really gave birth to what we're doing now, which is is applying those kind of strategies on a much wider scale, to applying data and technology to individual assets to work out which ones could work, which ones don't work. And we did a lot of developments throughout that journey sort of upstream from 50 schemes. So over about 256 year period, working with a lot of big PLCs, and some big high profile things that kind of happened, even work for China's secondary secondary teachers man for a little while in terms of helping him with his portfolio of, of assets in the UK. So this is the kind of interesting stuff that we kind of happen. But that's really kind of the sort of the fabric of Nimbus has been sort of going on that journey working out we'll have you have you basically apply local knowledge, which kind of you need any any props transaction, but how do you apply that nationally? Obviously, is any so far you can drive and then center. So if you've gone through trying to get that coverage across the UK is quite tricky.
Christian Rodwell 8:43
Yeah. Well, I'm so keen to find out exactly how Nimbus works. But then I'm also interested in that transitional phase now, like any good entrepreneur, yours, you kind of spot a problem, you see that either something doesn't exist, or what does exist doesn't do the job. Very good. So kind of can you remember that point where you're like, you know, we need to create something ourselves here that does the job for how we want it to be done?
Unknown Speaker 9:06
Yeah, totally. And it's kind of it was sort of an evolution, I suppose to the sort of early days of the consultancy business, though it was it was very interesting, really, because the the challenge that was was coming was that yes, you put your mind in the in sort of the world of big pop companies, you know, they've got 5000 assets, something like that across the country, and they've got different relationships with different different agents across Canada to supporting them and this sort of stuff and and what the problem that we had there was, well, how do you get consistency across across reviews and all this kind of stuff. And so, as we just looked at, actually, when you start thinking about how you how you act in your local patch, how do you kind of create, how do you kind of reapply what you already know, across those different areas and we tried various different ways of doing that and some of which works and which didn't, and some of which kind of then also made that pain and that kind of problem kind of more more relevant, but He's really interesting. So I suppose the the big challenge is watch have these ideas, you've still got to get market traction within you got to kind of be able to explain it clearly to somebody to say, Well, this is why you need this. And, and it's kind of easy as well, it's often that takes you into call the waterbody baby territory where you're telling somebody that their process that they've created and crafted and sculpted themselves isn't really the right way to do it. And so that that was a kind of an interesting challenge for us. How do you kind of win the hearts and minds of people when you're sort of really saying that kind of what you're doing what the industry standard is, isn't really collective purpose anymore. It was fine. Before but it isn't now. And I'm sort of trying to get people to understand that was was quite tricky, really. So when it also made you believe that you sort of push hard, and you and you eventually get that anyway, but it's an interesting challenge.
Christian Rodwell 10:44
Yeah. And so so let's talk more about obviously, what the platform does. And who is it aimed at specifically?
Unknown Speaker 10:50
Yeah, totally. So. So we, we aim, the platform, it's property investors, property developers, and AutoCAD professionals to hang off off those, those people basically. And so. So typically, some of the challenges you have are, you're finding these opportunities, often we find that people will find an opportunity and they get very emotionally attached to you spend a lot of time in property, kind of looking at the sort of nuts and bolts and does this work is not working, that's very time consuming, often quite expensive. And usually things get pushed to a point of saying, Well, do you want to buy it or not. And, and, and you're sort of very emotionally committed to sort of them feel like you need to kind of write that sort of write your name on that document and buy this thing, really, when a lot of this sort of component parts of it aren't quite right. And what we find is, if you have enough opportunities coming through the door, then that that difficult moment that you've got your bikes or not by it is much easier to take a nice pragmatic view on that if you've got more opportunities coming through the door, and so, so what we do an emphasis is, in effect, provide you with the tools or later kind of have enough opportunities coming through that you buy the right stuff rather than kind of emotionally committing to the wrong schemes, and then buying the schemes and then sort of two or three years later, realizing actually mid returns that you kind of wanted or what kind of worse obviously, and so the system helps you find all that stuff, it helps you then very early doors, understand what the problems might be, and what the challenges might be at this particular these particular assets. You got certain things in mind? How do you find them? How do you how do you make sure the ones that you've got, and that you are progressing with actually how it's gonna work in effect. And then part of that then is also kind of helping you connect with various owners that are going to be relevant will connect with with the right design team. So So our development journey was particularly painful. And sort of the reason we got ourselves in such hot water along that journey, we've had the wrong consultants. And actually, the way you can find the right consultant is they've got a track record, they're the ones that similar people to you, or the people that you're trying to become, are using elsewhere. And so we sort of create a suite of tools that allow us to do all of that stuff. And then obviously, through the negotiations, and this sort of stuff, this is comparable in this kind of stuff you need. And, and really, what we've done is we've we've kind of replicated those things that that we were particularly impressed with sort of through our property journey, and sort of then created the technology to replicate the things that we were particularly particularly impressed with, frankly, the example of that is, you know, we were negotiating a deal with Costa on a site that we owned in in central Warwick and, and the as we were going through that we got to set out the terms from the from the from the agents, and understanding what those terms were that they would really accept was quite difficult, because the first thing we done with Costa was the first coffee shop to deal with done. And of course, what was kind of interesting is with the law, we had instructed seps through a lease that they just completed with cost on on different sites. And of course, that meant we could see well, they put these clauses in these heads of terms that they clearly don't necessarily need. So they've signed this lease over here without them in this, we knew what we could negotiate, we couldn't negotiate. And that kind of gave birth, some of the features we got in nimba. So the company export, they just kind of buy leases from different companies that you're working with this sort of stuff, and to really just sort of mapping the problems that we had, where we sort of found some of innovative solutions through the old school, you know, Black Book of the industry, and just then reapply that the technology to kind of make it a broader search and a more complete search that I just kind of use the same stuff we found helpful. We're just a web platform rather than getting lucky with a particular or just so happened to have I've done some really useful for us. So when three that's kind of kind of in a nutshell.
Christian Rodwell 14:28
Yeah. And so so obviously it's it's helping property entrepreneurs save time, and it's ultimately probably helping them save money. And and it sounds like there's there's education in there as well. So it's actually helping them learn and become better investors.
Unknown Speaker 14:43
Yeah, totally. So it's stuff that we found has been particularly helpful. And it's stuff that is kind of obvious, but isn't obvious kind of when you're in the industry sort of doing the sort of the graft on the on the on the coalface is it's not actually that obvious, but it's kind of really When you see it, and then, and so that's kind of really where, where a lot of the stuff that we do is come from is just this stuff is just generally generally helpful when you're kind of going through this, this process. So, um, so yeah.
Christian Rodwell 15:10
And And just to be clear, this is, you know, to find commercial deals, but also residential as well.
Unknown Speaker 15:15
Absolutely. Yeah, yeah. So so. So we, we believe that the ability to build again, what you choose to do inside the building is up to you subject to what the panel's will let you do. And so we, we can't really see it sort of the bricks and mortar, because a, an office building is very similar to a to a house or a block of flats, or whatever that sort of it's bricks and mortar with some wiring and some and some plumbing inside it. And that's the stuff and so, so really kind of those changes really only come down to what can you get away with based on what planning policy say? And so it's really kind of making sure that you can, you can find the right ones, there's various reasons why you can't be certain things if make sure that we remove those out of your out of your radar off the radar. So you can really focus on the stuff that does work and really kind of talk about what
Christian Rodwell 15:59
you mentioned, obviously, you've been in property a long time, Paul, and you obviously pay close attention to the data. So it'd be interesting to kind of hear, you know, from your opinion, what are some of the hot property of opportunities out there right now?
Unknown Speaker 16:11
Yeah, totally. So we've got, I think it's really interesting marketplace, the moment you've got these sort of these sort of three things that are kind of combining together into sort of perfect storm almost of of opportunity at the moment. So you've got sort of in your use glass of water that's come out with, you know, classy, where lots of commercial uses now all kind of lumped together into a single single use class. And, and those, the old use classes, for me are all different different prices in our shop isn't the same thing as an office is the same thing as an industrial building, they have different prices, they're they're not, whilst they are, as I say, all bricks and mortar, they can be converted between those different uses, they have different prices associated with them. And of course, those those all now being in the same use class where you can sort of freely change between as opportunities is, is huge. The second thing then is that there's this new kind of PD REITs, Mr. REITs that are come out where the changes of use between commercial uses into residential typically or airspace above above buildings has now been sort of greatly opened up as well. And then of course, you've then got on the other side of all of this, you've got the whole marketplace and owners that have been locked up at home for the last 1215 months, something like that, sort of frustrated and thinking what's life all about on this sort of stuff. And so where some of those deals historically wouldn't have gone through because it's business as usual. We're all okay, things sort of 15 months later, and you're thinking of God, what's it all about? Maybe they are now for sale. And so there's this kind of this whole sort of perfect storm of of opportunity. And I'm so so for me, there's there's some really interesting opportunities, things like short snappers, we did a lot of those historically, sort of, personally and in our sort of family businesses, historically, very nice, easy ways of converting buildings, class gpdr, I still maintain that some of the upper parts above ratings as a very easy one, I think this is then this new class ma PT rise to convert, what is the new Class E, commercial uses, so shops, offices, sheds and a few other bits and pieces, well, for engine x, but those then can convert to residential too. So it's not commercial conversion, I think is a very interesting opportunity, especially in some of the stronger residential areas as well, I think there's some interesting opportunities around all of that, and, and then really kind of up, I think, paints the picture. And of course, then you've got this, this marketplace of people sort of sitting there scratching their heads thinking, you know, when will this all be over? And what are we gonna do once it is all over? It is now the time really, to retire and go sit on a beach in Spain, because it's feeling cold and miserable in the UK. It's gonna, so that it's really interesting opportunities for a lot of people.
Christian Rodwell 18:48
Yeah. And, you know, looking back on on your journey with everything that you know, now and know the technology at your fingertips, Paul, you know, how would you do things differently? If you were kind of starting back again?
Unknown Speaker 19:00
Yeah, so I think so when we started in property sort of say that sort of funny, funny checkered history, we sort of moved from investment into development. And I think we made it quite difficult for ourselves. So we so our journey was we own this five acre site in Birmingham, original kind of old industrial building, sort of Northern rooflights. And this is cathing, sort of the old sort of triangular shaped roofs, if you can remember those sorts of buildings, and, and we then went to go knock that down and redevelop it. So it's a big size five, five acres, we rebuilt it for 70,000 square foot of industrial buildings, which is kind of nearly two acres of building on its own possible the space around and stuff. And so it's a very big commercial scheme that we have quite a big push to see that we are committed to. But I think there's much easier ways to get into into property development. And I think, where we often see people sort of go out on a journey sort of from maybe buy to lead to something like that. Kind of is a very nice route where you can say, Well, actually, rather than doing a buy to let me move into an HMO, do a kind of heavy refurb To the other kind of a house, multiple occupations, something like that to kind of get used to the idea of contractors and that sort of stuff and maybe building warranty and this sort of stuff and JCT contracts are kind of getting your head around all that stuff, or indeed ROM doing that, maybe do a, buy another buy to that, but buy the one with the side guard at the front of it, rather than buying just a standard, you know, terraced house or semi detached house, whatever it is. And so then, you know, you can then buy a building that you're kind of comfortable with, that hasn't really got any kind of downside to it, and then get some additional planning gain on the, on the piece of anthracite or something like that. And then you could build that after you wanted to perhaps sell the house that you bought, or keep the side garden and then sort of do it in a much more controlled way. And what we did was, take a big site that was generating quality rent, not well locked down, and then try and rebuild something else on top of it, that was gonna be worth a lot more. But without really knowing some of the constraints. And they've met a lot of problems with a particular site that we chose to sort of kick it off with, which was, was particularly good for your learning, I suppose. But particularly particularly challenging, there's a few sleepless nights along the way, as well. So when I think in my head, I have a much more controlled way of doing that. And things like shortstops are very good as well, when you're sort of buying a existing building that you could just relax based on the price you paid and still make a return off the back of that. And then you you sort of you're spending money on on planning applications, this sort of stuff and understanding that journey, rather than necessarily, we didn't just kind of, say clearsight giving away income that that most income that you had, and then the clock's ticking for you to get the income generated, again, becomes quite painful, but in that way,
Christian Rodwell 21:36
yeah, that sounds good. So if someone is listening now, and they would like to kind of find out more about numbers and and have a look around, see how it works, what's the best way of them going about that?
Unknown Speaker 21:47
Yeah, so on our website, nips maps dot credit UK, we've we've got a number of products, we actually got a free product as well. So we've got a product ordinance that central so you, you can use that to find ownership and find some planning constraints out on this sort of stuff and find some building sizes and sales history and this sort of stuff on it. So excited for free for the free version, you can take a trial of our elite platform, it's got a more powerful version. And we run webinars every week as well. So you can sort of come and join us on a on a webinar that will sort of bring bring in kind of interesting speakers, we've got Kevin, coming and speaking with us shortly too. So come and join us one of those and sort of here we've got to say as part of those, we sort of talk about how our platform can help our existing users or indeed new new customers to Nimbus, we can talk about how the system helps in the in the light of what we've been talking about, and the sort of challenges that people are facing. So it was master co UK is the place to come and have a good dig around there. Watch your webinars or something like that, and, and kind of chat to
Christian Rodwell 22:47
us antastic. Well, we have many of our members already using numbers. And always the feedback is excellent. So really appreciate you taking time sharing with us today, Paul, and good luck for the future. Fabulous. Great to be here. Okay, looks good lessons there from Paul and a bit of a hybrid. They're really the property world and the business world so and investing as well. So we can dive into some of those lessons in just a second, Kevin. But before we do that, let's read out our latest review from trustpilot. And scrolling through and Sue has as kindly said, if you've ever considered whether a SAS is right for you talk to Kevin Whalen at wealth builders. That's just what we did at the back end of last year. And with their 100% HMRC approval success rate, we are now part of that admirable statistic, and are hugely excited and looking forward to what the future holds, if you want control of your pension. So you decide how and where you invest and more importantly, gives you the access to huge returns driven by your skills, connection and knowledge and contact wealth builders. And she finishes off by saying our huge thanks to Kevin for getting us started on this journey, but also to Paul Brooks and Brian Harvey, who continue to provide invaluable help and advice as we progress to the next phase exciting times ahead.
Unknown Speaker 24:09
Wow. Well, lots of lots of little mini lessons all rolled into one isn't there there. You know, on the one hand, there's the leverage, again, of using pension as the leverage of the who, using different people to develop the right skill, the right knowledge to get the application. And then I think Sue and her husband are really really getting into the community, aren't they? And and I think there's leverage in community I think there's so much more energy that comes from being connected and in in in the community and there's so many different ways of getting that sort of, I suppose. I don't know what it is. It's like an injection of adrenaline isn't it when you're when you're flagging when you're when you're getting stuck. It's just other people can help you whether it's one on one accountability, whether it's with a coach or whether an accountability partner Whether it's just the community at large or whether it's with us crest, so lots of good reasons to again, talk about not just the leverage of technology, coming back to four, but also the, you know, the leverage of community. Yeah, yeah. So obviously, I
Christian Rodwell 25:15
asked Paul, you know, some of the reasons why he set Nimbus up, and like any good entrepreneur, it's always about spotting opportunities, you know, seeing things that you're doing, which perhaps you think this could be done better or differently. And that's kind of how, you know, Nimbus was born. And Paul took his his background, his experience, but then taking local knowledge initially, just to really sort of validate and proof the concept that it would work before then expanding nationwide.
Unknown Speaker 25:47
No, I think that there's a lesson in there, you know, little see the kernel of opportunity just to think about here, that whenever a new business is formed, it's known, it's harder to form a business brand new, you know, like, oh, I'll invent something, you know, yes, there are some inventors and creatives, but usually, you can see something just isn't done quite right. And then how you can improve that, and put something right. In fact, one of the things we teach in the business side is something called the key frustrations, Chris, which is where you look at a business and you think, what, what about doing business in this area of my life, just really hacks me off, you know, probably other words can be used and substituted. But you know, I'm not happy about that. And, and when you think about, well, if you're not happy about it, maybe hundreds and 1000s of other people aren't happy. So what could you do to improve it? And, you know, think about that, because there's so many ways, you can just make a slight improvement, but you'd resonate with 1000s and 1000s and 1000s of people. And this is, in a sense, what Paul and his brother have done. And then suddenly, they challenged industry standards, they did something different, you know, they had a real reason to do it with checking their comparables and now the sort of connection you can make by using the software to all sorts of opportunities and never better timing now, with new classes of property with commercial to residential and airspace for those people who are interested in property and what they mean. So many different ways that you can see a market changing, and you do something about it, and you capture the imagination of an audience, and you turn it into a successful business and, and you learn as well, you solve your own problem at the same time. Hey, that's double leverage.
Christian Rodwell 27:41
Yeah, and it's a seriously good piece of software, we know that and many of our members already using Nimbus. And actually, Paul has offered some benefits for wealth builder members, so some discounts and some free trials as well. So if you're listening now, and you would like to find out how you can access those, then you need to be a member of the wealth builders free Facebook group. So free access, but just make sure you're in there, because we'll post the links, so you can start getting those benefits and start testing Nimbus out for yourself if you'd like to.
Unknown Speaker 28:14
So yeah, definitely good. And that's just another point about leverage, Chris, that, you know, we're a wealth building organization where the only impartial, holistic guide to wealth in the UK. And obviously, we serve one to one UK people more than anybody else. And as far as that's concerned, you're we're so passionate about trying to bring value to our community, we want to make sure that in all categories, and if you could think of a category where you're frustrated, you're fed up with something, you know, you could let us know, if you found somebody great, you know, what we call the nine out of 10, or the outstanding people, let us know somebody you've met who is outstanding, and we'll add them to the list. And what we want to do is have you know, in about 75 different categories of support, where people need something on their wealth, a whole range of different things, anything you can think of really, then we're looking for two or three outstanding firms or people that we can then build a relationship with secure negotiated discount, or extra value for our members. And then that can help everybody build their wealth, faster, safer, more enjoyably, which is really the essence of what we do well, builders so but yeah, definitely check, check out Paul. And he's also very generous guy to you know, in both in spirit and in time. He's also got a podcast of his own. And he's invited me to speak on that. And sometime soon, Chris. So watch out for that tune into all sorts of different property ideas and strategies that he wants to give back and give an airing to so very generous family, the Davis family and I'd like the very much indeed,
Christian Rodwell 29:56
yeah, and I guess just worth pulling Again, another kind of business fundamental. And this is something that we, we talk to our members about in the enterprise club as part of the Academy, but it's almost like your three pin plug, Kevin, which I know you look out for in any good business. And is it worth maybe just sharing what those three key elements are? Because I certainly spotted them there with with Paul's business.
Unknown Speaker 30:20
Oh, yes, that's thanks for raising that question was like, you know, all this stuff they got the ideas from, but you know, the three pin plug is just power up a business, you know, so just before I do that, I just want to talk about power for a moment. Because, you know, when you think about powering something up before you power it up, there's no power there. Think about also what Paul said, about tired landlords, you know, there are people out there, where the pandemic is the straw that broke the camel's back. And I'm not saying at all, to take advantage of somebody else's misfortune. But take advantage of somebody who says, Hey, I'm tired, you know, I don't do this anymore. There are things that you can do, that can give someone a solution that solves their problem. And, and you get a benefit, too. And there's lots of tired landlords around lots of tired properties around lots of things where people and things are tired, that you can breathe new life in and fire them up. So when they're fed up, you fire yourself up anyway, talk about three pin plug, three things to pair up your business number one. And I think Nimbus fits this perfectly well, which is a high degree of recurring income. So if you're a subscriber to Nimbus, it's a subscription model. So when you've got a subscription, and the subscription delivers good value, and that's the essence of it, then if you concentrate in your business on adding great value, and delivering consistent value, you get a consistent repeat customer. And that's the best customer of all to have. So number one in three pin plug is, you know, high degree of recurring income. The second is a niche, strong, robust niche that is found that don't you finding a niche of people who are into property, you know, they want to find opportunities, they want to short circuit the time it takes to be able to check things on land registry to to check who owns a piece of land, to do comparables, you know, all sorts of different things to help you be more effective when you're comparing and finding, which is the starting point of all property business, isn't it? It's the finding of the opportunity. And, and the third one is the business must be able to work without you. Now that's not saying a some cheeky people will often say to me, Well, how come Kevin, if you say business must work without we you're still working jiki people understand that. But the point about having a business that can work without you. And having a high degree of recurring income, is you don't need to be there. The fact that you choose to be, could be because you really like it. And you know, I'm not bored yet. So I'm going to continue to be the voice, the spokesperson, so to speak, the innovator on behalf of wealth builders, because I continue to get enjoyment that, that, you know, that curiosity every day of building our partners, creating more value for our members, I'm still driven by that, Chris so. So I think it's important. And I think it's important for the Davis family to you know, they that's a business now the software works, but they still love it, and they're still passionate about it, and they still want to share it. So the idea of number three is the business can work without you. It doesn't have to necessarily at the beginning, but at some point, it can. So you have the choice, whether you work or whether you don't work. And that's key. And then you know, when you've got the choice, other people who might look over your shoulder or think while you're working. They don't know whether you've got the choice or not think we had a little Facebook comment in the last week about that Chris, somebody saying why is Mr. Whelan still working? Well, there's your answer, sir.
Christian Rodwell 34:05
Yeah, so we know obviously is different different different freedoms that people want, right? Some people is the freedom of creativity control for others its location and they want you like Bronwyn, said a few weeks ago, you know, to go off and travel. So you know, everyone is driven by different things. And and that's really the beauty of business, isn't it? It's the choices in your hands.
Unknown Speaker 34:25
So the beauty of a wealth building plan, because you choose your own plan, and you can execute it the way you want that suits you perfectly. So and I think Paul and his and his brother have done a very able job of creating Nimbus, so check it out. And and also, is there anything else you want people to check out that recording? Just give a quick shout out by that
Christian Rodwell 34:46
again? Yeah, just remind you listening if if you're interested in just kind of seeing Kevin and myself walk through the recurring revenue roadmap with some of our members from the program and coaches who were all present and sharing Our launch Academy webinar last week, then go and check out the replay. It will be available until the 30th of June, along with the 500 pound discount to join. And you can access that right now at wealth builders.co.uk forward slash Academy launch. Yeah, and check it out even if you just want to see what we look like. All right, so thanks to Paul, and thank you for listening today. We'll be back Same time, same place next week, Kevin. Okay, questions until then. See ya.
Unknown Speaker 35:32
We hope you enjoy today's episode. Don't forget that we are constantly updating our resources inside the wealth builders membership site to help you create, build and protect your wealth. Head over to wealth builders.co.uk slash membership right now for free access. That's wealth builders.co.uk slash membership