In today's episode we are joined by WealthBuilders member, Paul Ambler, who has achieved financial independence within 18 months of joining us. Make sure to tune in to find out how Paul's dedication lead to financial freedom.
Today’s guest is WealthBuilders member, Paul Ambler. Since joining our programme in 2019, Paul has demonstrated real dedication and has plenty to show for it. Tune in to WealthTalk to find out how he has used our signature Recurring Revenue Roadmap to generate multiple streams of income from different asset classes to achieve financial independence within 18 months of joining us.
Resources Mentioned In This Episode:
>> Paul Ambler's Property Website
>> JOIN THE WEALTHBUILDERS ACADEMY - CLICK HERE TO LEARN MORE
>> REGISTER HERE FOR FREE RESOURCES ACCESS>> Wealth Dynamics Test
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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 0:20
Welcome to Episode 105 of wealth talk. My name is Christian Rodwell, the membership director for wealth builders and I'm joined today by our founder Mr. Kevin Whalen. Hi, Kevin.
Unknown Speaker 0:29
Good morning, Chris. Good to be with you. Again. We've had a little extended long bank holiday weekend have me here in the UK. So hopefully you're rested, recharged and ready to go for another great podcast?
Christian Rodwell 0:41
Yeah, well, we are back once again with our spotlight on member. And we always do this on the first episode of the month. And we look back at the last 30 days. And we just select one of our wonderful members from the semesters 12 program who's been having some great results. And this week, or this month, I should say, we're shining the spotlight on Paul Ambler. And Paul joined us way back when Kevin when we launched so Paul's a founder member.
Unknown Speaker 1:10
Yeah, well, Paul's been in the community for a while and such a nice guy and a joy to have him in the community, not just as someone who receives value from it. But he's very passionate about giving value back and I'm sure that will come across in your interview. And, and the thing I point out is, when Paul came to us he was, you know, he says himself, you know, he wasn't always as confident as he sounds in the interview. You know, so wealth building is a journey of transformation. And I think his his confidence. And his and his decisiveness, have dramatically improved. And being transformed by him being humble. And I think he uses that word several times as new humility, being an important skill and wealth builder. And the fascinating interview, Chris, and I think you did your absolute best to pull out all of the lessons from him.
Christian Rodwell 2:07
Yeah, thank you. So before we head on over to the compensation report today, we've mentioned where transformation there, Kevin, and indeed, that wealth building process is a transformation. But even for us, because when we launched the membership back in May 2019, it was a very different looking program to the one that it is today. And we've evolved, we've updated a lot since we've been going thanks to our members and feedback from our founder members. And, and we we created the seven steps program, which we launched about a year ago. And it's evolved once again. Now, Kevin, and I think we've I think we've nailed it now. And we've got the recurring revenue roadmap, which is now a nine step process. And that's what Obviously, we've been referring to over the last couple of months, and certainly in our member spotlights. But we've got some exciting news because we're actually now changing census wealth program to the wealth builders Academy. And this is an exciting big update for anyone who is currently in our program or even currently interested in working with us. And we're going to be holding a webinar on Thursday, the third of June to show you exactly what's changed. So looking forward to that one, Kevin, we're going to be walking through all of the new content that we've recorded, showing everyone what these nine steps are. And of course, inviting some of them members to share how it's been working for them to
Unknown Speaker 3:32
show I mean, a couple of points. One is the humility that is shown in spades with Paul, we have to show ourselves and we invite all of our contributors and all of our members to tell us you know, what, we could do better how we could do better. Because we know wealth building is not an easy process. If it was you pick up a book, you know, in a few weeks later that you'd be wealthy, but it doesn't happen. It takes a while. It's it's you know, there are bumps along the way. And there are frustrations along the way and we're keen to try and help cut cut the pass off if you like give shortcuts to people so that when they're feeling frustrated, inevitably wealth does that then you've got more support and and more opportunities to connect. So yeah, we've improved the program. The other value in having the Academy is a widens the scope of what we're looking at now. So we're creating a well I like to say it's a little black book, but it's a it's a bloomin big one, Chris, you know, we got over 60 categories now of support, you know, where people need somebody with a specific expertise where I personally interviewed selected individuals to to help our members and to bring some kind of discount, some kind of bonus some kind of value and also to make sure that the best is In the class for what they do, you know, I've said many times before, it's a it's a who culture here, wealth builders, there's always somebody who can help you with a shortcut and shortcut sees that frustration. So, definitely tune in on the What does he say? 30 3030? Yeah, and then pick out what we what we're doing and, and we'll be inviting others to provide some education to add to ours because we're humbled to Chris, we want to invite other people's contributions as well as the intellectual value of our own.
Christian Rodwell 5:34
Absolutely, yeah, no, we're expecting a big turnout for that. And we'd love to see you there. We really, really would. So head on over to wealth builders.co.uk forward slash Academy, launch all one word Academy launch, register for the webinar on the third of June and join Kevin and myself for that. Okay, so let's move on then. And let's listen to our spotlight on today's member, Mr. Paul Ambler. Oh, welcome to wealth talk today. Good to have you on.
Unknown Speaker 6:02
Yeah. Hi, Chris. How you doing? Very well.
Christian Rodwell 6:04
Thank you. Now, Paul, you've had a great month. In fact, you've had a really good, strong start to the year. And you're one of our founding members as well. So very much looking forward to hearing your story in your journey. And as usual on the member spotlights, we'll be walking through the nine steps of our recurring revenue roadmap today. So why don't we kick off with step number one? And step number one is mindset. So it's all about starting with why. So when you joined us, Paul, what was your reason for joining? Can you remember?
Unknown Speaker 6:34
Yeah, so I'm going to go about I joined the foundation in October 19. So I guess it was nearly here half to 20 months ago, something like that. And I had recently left my job. And when I say recently, probably a year before that in February 18. But that was after quite a bumpy, 12 months. But but the feeling of wanting to make some sort of seismic change had been there for some time, because I've got two children who are now 10 and 12. But at the CEO when I was left my previous role in 2015, they were quite young. And what I was starting to find was that I'd carved out a fairly decent career in corporate world. But a lot of my time was based in London, which was about 80 miles away from where I actually live. So I was missing out on quite a lot of time with the kids. And there was just this one particular moment when I was thinking, so I started thinking about six for the last building. In London, I'm picking up my phone and I'm bringing my wife to basically say, I'm not coming back for my child to nativity play. And, you know, I was literally going to go across the road to Marks and Spencers and buy pants and shirt so I can stay down for another night. Because really important meeting that I could not get back for when I just I sort of woke up the next morning. And that mean that's going to be what the best part probably eight, nine years ago and still kind of haunts me now. And that I think was probably the pivotal moment when I just thought you know what, I've got to have a think about this I'm earning. Okay, so it was never about the money. I actually quite didn't find the job at the time. But I was just missing out on so much. And I just thought you know what, I've got to do something different. So yeah, and then the events that manifested itself in 2017. We're making the decision, and it took till early 2018 to leave and I guess the rest is history.
Christian Rodwell 8:16
Yeah. And can you remember how you came across wealth builders? And why did you decide to work with us in particular?
Unknown Speaker 8:23
I can't remember how I came across you guys if I'm honest. But it was just a case of I've been in somehow I've been on a course or something. I think Kevin had been there. And he mentioned the word SAS and I knew I had some final salary pensions that would be reasonably tasty. And I started to talk to him about that about maybe 12 months, even before he actually joined officially wealth builders on the foundation courses It was then. And yeah, I just decided to go with you guys. Because I already knew a little bit about property, which is my main pillar. But what I found was there were lots of specialist trainers and people that reckon they can make you rich doing a certain particular strategy. But when I was looking for someone who's a bit more holistic, and will look at wealth in the round, you know, in all the different sort of asset classes that you could utilize to to get to that point. And, you know, Kevin resonated to me what you guys were doing resonated. And I was a bit of a DIY, I think his expression that you guys have used, and I certainly can resonate with that. And so I was doing okay, but I just didn't have the guidance, and there was no sort of roadmap or blueprint to follow. And I realized what wealth builders was about. So that's kind of how it started and then eventually officially got joined up in October 90.
Christian Rodwell 9:43
Excellent. Okay, so step two, then is the wealth gap. So this is really understanding about, you know, five levels of wealth, where you are way less so can you remember which of those levels you were at when you joined
Unknown Speaker 9:54
the lowest, as simple as below the lowest probably Yeah, so I was In a reasonably good job, so, you know, my levels of income were pretty decent. So I had to get to get back to somewhere near that to get to fire security. But I was below financial security, I did have a small property portfolio that was generating some income and property cover about half our running costs, if you like for the, for the month. So I've saved up a plan for this exit. But yeah, below financial security is where I kind of started.
Christian Rodwell 10:25
Okay, and where are you now?
Unknown Speaker 10:28
Well, if not, I'm done. So we we went to financial security very quickly, just in one or two deals. And then, yeah, we've made quite a big stride forward over the last 18 months, and we've gone through financial independence, and we're kind of sitting at just about financial abundance, I guess, and then moving right the way through. So we're now gunning for that financial legacy figure, which is a pretty, pretty big one. But you know, if I think about where we where we're probably six, six and a half times the income of where we were, when I sort of sat down and worked it out start off with, which is, and certainly, that's what we'll be by the end of the year. I mean, there's a couple things with the pipeline. So they're not necessarily dropping in just yet. But, you know, one or two have done in the last few months. And you can notice that it's a lot of hard work. But it has moved me along that funnel of the funnel, if you like, and the thermometer is nice and full, which is great. Yeah, that's
Christian Rodwell 11:22
absolutely fantastic. I mean, stage one in the recurring revenue roadmap is all about building confidence. So, you know, we're on step two here, which is understanding, you know, are your insecurities, security independence, but, you know, how has your confidence changed and your mindset over that period of 18 months? You know, how do you feel now, compared to when you started
Unknown Speaker 11:45
considerably different, you know, it's it was, you know, I lacked a lot of confidence, even though I wasn't necessarily doing particularly wrong. I deliberate quite a lot. Whereas now, I'm quite decisive on things, I still beat myself up. But, you know, having that, that, that roadmap and that guidance for me, for yourself, and from the wealth coaches, they later became and, and obviously, Kevin, in particular, just allowed me to sort of stay on a certain path and know that kind of what I'm doing is right, and just to stick with it. And you know, when I when I met you, you and Dec. Kevin way back when we could meet people back in hotels, many, many moons ago, and I sat down and kind of asked me what I wanted. And I just said, I just wanted a sounding boards, you know, I just wanted someone to talk through what I was thinking and help me out. And that's where, you know, I think it's been really great value. And I had a particularly challenging project due last year. And I remember just picking up the phone to Kevin and we just, it was just in the acquisition, actually, because we're just about to acquire properties. COVID broke out. And he just did a roleplay with me, and it literally five minutes. And it just changed my whole attitude to the deal. And, you know, thank God, I picked up the phone, and we arranged that zoom and went for it because it made a difference. And that one project alone is probably going to put in 1500 pounds a month in my pocket every month, as long as I hold on to it. So you know, really, really crucial five minute conversation.
Christian Rodwell 13:06
Brilliant. Yeah, so the foundations are in place. And the final step, step three, is to put the roof on. So do you have any examples, Paul of you know, checking your roof, making sure that you had that protection in place?
Unknown Speaker 13:18
Yeah, as I said, we will, we will get us fairly savvy about things, you know, I already got a will and legal powers of attorney. And, you know, I do also do protection insurance myself for the people. And so I had got to the level of insurance, but it's just, you know, making sure that everything is in place, and it's all up to date, and making sure you know, we've got the right, you know, value on there and making sure that we're well protected. And, you know, moving the biggest one was, of course, moving our pensions into our trust effectively, that protected that, that that legacy money really for myself, my wife and my kids, ultimately, that we just couldn't have got to.
Christian Rodwell 13:58
Yeah, that leads us nicely into stage two now, which is all about building knowledge. So we start with step four. And that's the Seven Pillars, you know, the assets. Now you talked about, obviously already had experience in the property pillar. So, you know, you built upon that, and have you been able to diversify and learn about some of the other pillars along that journey?
Unknown Speaker 14:19
Yeah, I mean, I think it wasn't so much about learning. Other pillars particularly, it was more about the strategies within that pillar. So I was very much into you know, vanilla vital access column that had done some renovations and some extensions and bits and pieces like that, but it was very much a standard two three bedroom biter let's, and I've done it the old fashioned way of just working on saving some money enough to get deposit by and just, you know, grateful to pick up to 200, maybe 300 pounds a month, you're lucky and we had a few of those so it wasn't going too badly. And we were fortunate we benefit from some low interest rates, which I knew was kind of artificially made it look a lot more impressive than actually was. But what I did learn, and that's where sort of collaboration with wealth builders and people within wealth builders and friends of wealth builders, should we say, was around of the strategies, and particularly you have become a bit of a bit of an expert supposable Mr. Blair mentioned a little bit is on HMOs, you know, really got into the detail, I've got a law degree by, in my education, I'm quite detailed sort of person. And, you know, really got under the skin of that, you know, not bester flair and design, but then I really got into that. And that's really allowed me to get, you know, really clued up on sort of financial side, and we virtually get all our money out. And every deal we do when they're big 6767 bathroom projects, when one of those leaving big chunks of change in there, we're managing to get out. And that's just really good financial planning and the way we do things, but yeah, so that was a that was a particular strategy that were that were really embraced.
Christian Rodwell 15:57
Yeah, that's good. So just on the pillars, then I know that you mentioned pension. So pension pillar you've brought into play and joint venture pillar as well.
Unknown Speaker 16:06
Yeah. So we do joint ventures, I've got a business partner, which I'm one of our companies, that's a effectively long term joint venture, we have invested in others as well, which is great. We, in the processes, just do some joint ventures now. But yeah, we Yeah, the pension was the big one, because my both my wife and myself had final salary pensions, basically three pensions in total, but they were in a decent amount of monies. In fact, we only just got the third tranche of that money come through the last week, a week before. So that's it, but it's taken a long time, a lot of hard work, but, you know, wealth builders and, and Paul, and particularly Paul Brooks, and then, you know, empower pensions have supported us through that process. And, you know, we've got that, and all our pensions and ours, and that under control, which has been massive, yeah, good.
Christian Rodwell 17:00
So the the synergy of different pillars working together there to, you know, give you that, that, you know, that strength, really, so. Okay, moving into Step five, Step five, is leverage. So we know, leverage is key to wealth building. And it's not always about financial leverage, but you know, it's intellectual leverage, so your experiences and your relationship, leverage and systems and then obviously, time, you know, real short of most people are short of time. So we want to make sure that, you know, we're putting time into the right thing. So if you've got examples of how you've brought leverage into play, to help you build your wealth, I
Unknown Speaker 17:36
think the biggest one for us is obviously leveraging SAS, but actually, it's about leveraging the relationships and, you know, collaboration with others. So we've got, you know, investors that have been kind enough to support us on our journey, which is how that takes a lot of, you know, collaboration and leveraging someone else's money, which is the biggest, which is the biggest one, they get a great return, and we get a great return, we generally hold on to the asset as well. And so we get a lot of recurring income from that, you know, we've leveraged that SAS money through, they got loan back, but we've also leveraged it through investing in other people where they will actually not just give us a return on our cash return on our intellect, you know, actually, some help us learn about stuff particular strategies along the way. Yeah, like commercial conversions, or HMOs, whatever it might be. And so yeah, we've tried to leverage that, obviously, we've leveraged the experience of others who are further down the path that we want to tread, and learn from their mistakes. I leveraged my buddy group, you know, I leveraged Kevin, I leverage, leverage everybody to a certain extent in the nicest possible way, you know, and I'm also willing to help others where I can as well, to return that favor.
Christian Rodwell 18:42
So step six is strategy. So we've heard that your strategy is HMOs. And are you exploring any other strategies? Or are you just keeping focused on on the one,
Unknown Speaker 18:50
one? Well, no, we're not focused on one. So we have myself and Matt have a serviced accommodation apartments. I've settled by selects, geographically diverse as well. In the Northeast, the Northwest, the Midlands, where I am in South East Midlands and some stuff that in London is all over. And that's deliberate to give us that regional diversification. Because, you know, to focus too much on one area is probably not so prudent, in my opinion. HMOs are been a big one, you know, and it's not necessarily something that I particularly embraced in the early days it but he can't ignore the rewards that it can deliver. So we've decided to go right towards the high end. You know, we spent a lot of money on renovating these, and we focused in on the build quality. And we start with our customers, our tenants in mind, what do they want? What would make them happy, and we work backwards from there. And we just don't cut any corners. We are high quality and we were told by one of the fire officers recently with the best in the region. Now what we do, and yeah, it's extremely proud moment, but it's just doing everything with integrity. Making sure that we, you know, we really focus on that. And, yeah,
Christian Rodwell 20:06
yeah. I mean, we've obviously seen that the photos and the videos of your properties poor and they are absolutely magnificent. So
Unknown Speaker 20:13
I've got the latest one now I've got a video a couple of days ago. So
Christian Rodwell 20:16
I'll upload that as well as Yeah, well, I was going to say why don't you share that in the wealth builders, Facebook community, and then everyone listening can can see the quality of your properties. And great. So we're moving into stage three now. So stage three is all about the action, it's about building the assets. So step seven is focus. This is where the wheel of wealth comes into play. You know, the wheel of wealth, it's education, sport connections, due diligence and guided action. So, you know, our coaches are there now to help you every month stay super focused on turning the wheel. So, you know, how is your experience of working with the coach has been
Unknown Speaker 20:52
great, brilliant. In fact, you know, I've, I've chosen to stick with one coach. And that's Chris Henry. Yeah, big shout out to Chris, he's a he's a great guy. Yeah, we get on really well. You know, we have a lot of shared values, which is great, you know, personally, as well as wealth building approach. And I've stuck with that, for continuity for consistency. From my point of view, we're now at a stage where I actually sent him my quarterly targets, and we start monthly meetings with a review against those. So now I've got the accountability there as well. He's in a similar strategies to me, so he can give me some tips. And, you know, when I'm losing my mind, sometimes a bit of overwhelm, he just brings me back down and calms me down and just gives me a couple of key Nuggets to think about, and it's been really helpful. And, you know, maybe maybe I've helped him as well on the way, but it's been a very good sort of relationship. And you actually really look forward to those every month.
Christian Rodwell 21:48
Right? I bet Chris loves those quarterly reports, because he's a detailed man himself. So
Unknown Speaker 21:53
yeah, I do boy, lots of spreadsheets and PowerPoints. And he's very gracious and helps me out on those. It's been very, very useful.
Christian Rodwell 22:01
Brilliant. So obviously, turning the wheel should result in either capital or cash flow, which leads us in to step eight, which is about results. And, of course, measuring measuring results regularly, you know, to be able to look back and see the progress because, you know, we know that periods go by where it feels like progress is not being made. So, you know, in the last 18 months, if you had those periods poor, where you felt like you're not making progress, but obviously, if you're tracking results, you can look back, and you can see how far you've come.
Unknown Speaker 22:30
Yeah,
Unknown Speaker 22:32
I'm not really one to shout about what we do. And I tend to keep things pretty much quite private, and it doesn't don't lead to overwhelm. And you do beat yourself up. But I, you know, urge not just myself, but everybody doing this property journey in particular, which is a tough one, you know, it's it's a bumpy old ride that we go on the roller coaster, you know, to take some time out to reflect and, and you do that, and actually just getting ready for this conversation. He looked back and you go, Well, you know, this has been Am I doing the right thing to look at he got one, just just take the last three properties to the woman back to the one we just finished the movies, it we shared before on some of the other platforms. And last year, just those three, it's not not everything else we're doing. Yeah, those three will now turn over something in the region, about 130 140,000, of which we will net out about half that on an annual basis. You know, that's a good result, just from those three, they're probably worth now 1.3 million in that we probably injected 300 grand of forced appreciation. Yeah, just few good, good project management, you know, these are a look back. If you look at it on a day to day basis, it feels very, very hard. But we look about it in the back end around the takeover length of time, you know, there's an expression, I think Bill Gates quite often quoted that people underestimate what they can do and overestimate what they can do in a year and underestimate what they can do in 10 years, probably even five, you know, you can seismically change where you are and I started out by talking about you know, being below finances, security. And now here we are in financial abundance, it doesn't take that long, if you've got the time, the effort, the tenacity, the resilience, you know, the focus to support the education to keep going, you know, and to quote Churchill, you know, never give up, never, you know, just keep going is you will have those days when you perhaps want to stay in bed and just, you know, pull the covers over. But do try to try to avoid those and try to get out of bed and get going and get on the treadmill or do something else to clear your mind to come back to it. Because, you know, when you take time out to look back at those results, I think you might be just amazed at what you've achieved. And so that's that's how I felt at times.
Christian Rodwell 24:45
Yeah. And and it's great as well you know, you that you're submitting your your progress reports each month, Paul, because, you know, some of our members sometimes forget to do that. And hopefully they're listening now and I definitely encourage you know, take that 510 minutes just to take stock just you know, submit the progress report and, you know, helps us to keep track and see, you know, if anyone is stuck, that's a great opportunity for us to just reach out and say, okay, but what help do you need? So Step nine, we're at the final step. This is all about accelerating your way forward. And you've already said, Paul, you know, the next financial level really, for you is abundance now, and what do you see as being key to helping you continue to stay focused and take the necessary steps to, you know, to keep pushing on?
Unknown Speaker 25:30
Yeah, probably step to head a little bit there. Because it's, you know, I mentioned some of them. And one of the big one is about, you know, reputation. You know, there's no harm in turning the same wheel several times, you know, you do get better take it from me. I mean, I'm just doing my fifth and six cars simultaneously. HMOs You know, this is a strategy that seemed quite big and scary 24 months ago, and here I am now, you know, and we'll probably do 789 1011 probably by the end of the year, you know, so as you get better, you get slicker, you get more efficiencies, you get more economies of scale, you get more stability, you get better recognition, you know, reputation. You know, we've got valuers, now we converted value our properties without seeing them, you know, and build those relationships. And they just go Yeah, we know you guys. Do we like the last one, but he got it? Yeah, just like the last one. You know, okay, we're saying figures last year, we've roughly the same Yeah, and you kind of know, what that does is mitigates risk and reduces the level of uncertainty because you kind of know how to get into the mind of those, as they say valuers or HMO officers just walk in and the private sector housing officers walk in and they have supreme competency and fire officers come out and signed off in five minutes, because they just, they can see what we stand for. But you've got to keep going. You got to keep sticking with it, and the tenacity and repetition and resilience, probably three key things and then collaboration. You know, that's the other thing is don't be, never be too proud to kind of ask for help, either, you know, maybe sound like I'm confident, but trust me, I wasn't. And you know, you have to get that help and learn from others. And, you know, try and remain humble humility is quite a good thing. And, you know, there's always somebody better than you, you know, how they can help you as well. And, you know, whilst I don't write books, or sell courses or anything like that, you know, I'm always willing to help people. Maybe I should, maybe your listeners will tell me if they're interested in writing something or sharing something. But, you know, it's there's always someone out there to help but you're not on your own. And you know, in those tough days, just remember, this is a long game, you know, it's not, it's not a short game, if it was a get rich, quick, I guess, we'll be doing but there's nothing wrong with getting rich slowly, either, so long as you get rich. So keep that in mind.
Christian Rodwell 27:42
No great, great words to end us on their poll. And you know, we say it's average journey of five years, you know, you've just shown today that can be shorter if you really are focused, and you've got a clear plan and make good use of all the resources that you have around you. So well done once again. And we look forward to seeing and hearing about future successes to come.
Unknown Speaker 28:02
Yeah, great stuff. Well, thanks for your time.
Christian Rodwell 28:05
Now, I really enjoyed listening. Well, I speak into Paul there and listening to him talk his talk his way through the progress that he's made. So we'll dive into that as we always do, Kevin, but let's head to trustpilot. and have a look to see who has been kind enough to leave a review in the last seven days. And I'm looking at one from George from Georgia. Troy actually. So listeners may remember, George was on episode 94 of wealth talks and sharing his story of how he became financially independent. And he's he's left us a review cabin. So he said, If you make a mistake, while using your SAS, then that can become very costly. Indeed, I chose wealth builders for excellent training and support, they did a great job of helping me through the transfer of my four company pensions into a new SAS. So they go
Unknown Speaker 28:55
short and sweet, but very, very effective. And of course, the the SAS word the kind of turning your pension into a vehicle, that arrow head towards your future, rather than just looking backwards at your past is a very powerful form of leverage. My mind Paul refers that himself doesn't he is maybe several times I think he refers to that as a bit of a game changer for him on his journey. But some interesting points that picked up
Christian Rodwell 29:26
Yes, well, I mean, they actually mentioned that when the three of us we met up in we're in London that I remember it very well. We were sat around the table at hotel and talking to Paul about, you know, why he wanted to to embark on working with us, and he was always very driven by his family, wasn't he? And you mentioned there, you know, two young children. He actually said, you know, he was just missing out on so much so as a very powerful catalyst for him and, and he's now got so much more free time. So, you know, that was a great starting point.
Unknown Speaker 29:57
Well, the calculus is a very important word because You know, if you think back to Newton's first law, which is an object at rest stays at rest. Anybody can remember that from their basic physics. But it's the same with wealth building unless something stirs you. Something stimulates you to change the status quo to get out of your comfort zone in and do something different. It's that first ROI, the reason to overcome inertia. And Paul demonstrates that in spades, and I think it's a very common trait, Chris, that when people powerfully make dramatic changes in their wealth, it almost always does, or a stirred up from a very powerful and compelling reason why,
Christian Rodwell 30:44
yeah. And we know, the reason for holding people back. In fact, we did five reasons last week didn't weigh on the episode. But you know, most people that haven't got a clear plan, so they end up drifting, they don't have the right support. And ultimately, you know, they they don't, they don't want to give up too soon, they just don't stick with it long enough. Because there are hurdles along the way. So we know, those are the things that hold people back. And Paul said he was attracted to wealth builders, because of the holistic approach. And because of that structure, and having a clear path, and the guidance helped him stay on track. And, you know, that is so important.
Unknown Speaker 31:20
I think, I'm very proud of the factors that, to my knowledge, and certainly I'd love to be corrected and collaborate with others. But to my knowledge, I think wealth builders, the only company, at least in the UK, that is completely holistic, you know, we were aware of how wealth is built, we're not, we're not pushing anybody down a particular path. We don't sell sort of, you know, mini courses, and then more courses, and then try and just get people to buy education, our passion, is education, of course, but we don't mind where people get that education from, as long as they combine it with support, connections, and due diligence. And I think that's the bit that's often missing. that's out there. So I'm glad he spotted that. And I'm glad many others are spotting that and sharing that with others. And, you know, I'm delighted we continue to be holistic and impartial and all things wealth, and we don't push our own agenda ever
Christian Rodwell 32:20
imposed, you're such a great example of when you get that clarity, when you are clear on exactly what a path looks like how quickly you can move through the levels. And, you know, we've seen that with Paul, starting at a place of insecurity, quickly getting to security and empowering through to independence in space of 18 months. So yeah, it's absolutely achievable. And talking about some of their strategies and pillars, and you know, often they get a little bit merged, don't they, when when people talk of those, but of course, you know, they are entwined. And for Paul, it was predominantly property. So starting with biter nets, and then moving quickly into HMOs. And very, very good, high quality HMOs. And, and then also service departments as well. So, you know, he's used multiple strategies there. And in terms of the pillars, obviously, we've talked about his pension, he said his wife, and himself had final salary pensions, which they use to create their SAS. And of course, he has a joint venture.
Unknown Speaker 33:18
Yeah, so you know, it's very elegant isn't that all things are putting into play? It sounds, it sounds like it's easy, but it isn't, because you have to craft and combine and weave these things all together. And it doesn't happen, you know, just quickly it it kind of takes place over many weeks, many months, and many conversations and thoughts and, and I can remember that roleplay that Paul and I had when he was debating that, that big one that's added such a substantial sum of money to his wealth thermometer. And, you know, he was over analyzing it, and definitely thinking that, you know, he could squeeze a little bit more out of it from the vendor. And I role played it with him and pretended to be a tough vendor, you know, being upset by the fact that he was trying to renegotiate the price. And then at the end of the roleplay, I said, right now, you know, you've got the risk of losing this, you know, do you really want to do that for the sake of a few 1000 pounds? And of course, you know, he relayed that story back there. Not quite as much detail, but certainly, you know, again, being humble enough to say, Hey, you know, I thought one thing I talked you through with someone and that's important too, you know, with the support of buddy groups and, and mentors and guides, it's always important to talk things out. And because wealth building can be quite lonely when you're, you're faced with all of these different options. Just think of what Paul's got there in front of him as he said, beitler HMOs, service accommodation, pension, final salary, SAS, whole raft of different things. And if you don't talk those things out, you can get yourself into a place of incredible confusion. And when you're more analytical, you can overanalyze, which can hold you back. And that's another reason why some people just simply don't break through that inertia. And they get stuck.
Christian Rodwell 35:09
Yeah, yeah. relationships, such a big part of the three cornerstones of wealth builders, good education, good support, great connections, trusted connections, I should say. And, yeah, Paul talks about having that, that regular pulse with with his wealth coach, Chris Henry every 30 days. And that is that opportunity really just to to get it off your chest and say, what's working, what's not working, recalibrate, and then focus forwards on the next 30 days. So I guess the final kind of lesson there was, was that results are not always obvious, until we look back and review how far you've come. And Paul said, even you know, getting ready for the podcast was that moment of just really looking back and just going wow, you know, actually, I've come a long way. And it's, you know, when you're in the thick of it, week to week, often, you don't notice that, which is why we really well, step eight in the process is results every 30 days, you know, make sure you're submitting your progress report, just take stock of the conversations that you've had of the things you've learned, and, and of course, any recurring income that you've been able to add to your monitor.
Unknown Speaker 36:15
ever remember, you don't add money every month. It's not like a job. You know, when you turn off the job, you get a paycheck, at the end of the month, you turn up you get a paycheck at the end of the month, while building is sporadic. It's intermittent. It doesn't work that way. You could be like with Paul there, with you know, an HMO, we could be six months, seven months, eight months, nine months in the making, and then the money comes through. So it's like giving birth to a baby, you know, you don't have a baby in a month, you takes nine months, you've got to live with it. Now, wealth is a bit like that court. It's not all nine months. But I use that as an analogy. But it's just different ways that different revenue streams come in, you just have to know it's coming in measure what you're doing measure activity every month, don't measure the results every month. So let's just be clear, when we're saying in step eight, its results. It's the results of your actions because it's you that changes when you go through that. So measuring what you're doing is as important is keeping that thermometer on the rise.
Christian Rodwell 37:17
Yeah. Well, I hope you enjoyed listening to that with Paul amla today and you know, if you want to visually see the roadmap, that recurring revenue roadmap come to life then do make sure you register for our academy launch webinar on Thursday, third of June, head over to wealth builders.co.uk forward slash Academy launch. And Kevin and I will be delighted to see you there. So that rounds off Episode 105 Kevin enjoyed that.
Unknown Speaker 37:45
Yeah, I enjoyed that very much and always good to see one of our members powering through and looking forward to seeing what's next for Paul and looking forward to seeing who's going to be next in June but again, we'll probably get to that maybe just after the launch Chris and looking forward to the academy launches a new look new feel new content new, more empowering groups of people to serve and a new partners that we're working with to help people make that progress that's so alludes someone,
Christian Rodwell 38:21
right. Thanks for listening today. Thanks, Kevin.
Unknown Speaker 38:23
Okay, till next time, my friend. So yeah.
Unknown Speaker 38:29
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