In today's episode we are joined by our guest, Simon Zutshi, who established the Property Investors Network. Make sure to tune in if you want to hear SImon's views of the UK property market, and whether we should be cautious or ready for huge opportunites.
Simon Zutshi has been investing in UK property for over 20 years. In 2003 Simon hosted his first network meeting for property investors, establishing the Property Investors Network (PIN) - which today boasts 50 meetings across the UK every month, making it the UK’s biggest training and networking organisation. In today’s episode recorded live in London, we hear from Simon on his views of the current UK Property market, and whether the uncertainty that surrounds the future of the country presents a reason to be cautious, or huge opportunities.
Show contributors - Simon Zutshi.
Resources Mentioned In This Episode:
Register to attend your local PIN networking event for FREE
[CLICK HERE] to select your nearest location, and enter voucher code ‘wealthbuilders’ when selecting your booking/payment method]
Property Magic by Simon Zutshi [Book]
Find Out More About The WealthBuilders Academy
A step by step process to help you create, build and protect your wealth.
https://www.wealthbuilders.co.uk/academy
Register for Free Access to the WealthBuilders Membership Site
https://www.wealthbuilders.co.uk/membership
If you have been enjoying listening to WealthTalk - Please Leave Us A Review!
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 0:18
Welcome to Episode 27 of wealth talk. My name is Christian Rodwell, the membership director of wealth builders. And today we are doing something slightly different. So I'm joined, as always by Mr. Kevin Wayland. Hello, Kevin. Hello, Chris. But I'm also joined by a very special guest today. Mr. Simon Suchi. Christian a Simon, you're the founder of the property investor network, author of property magic, indeed, yes, we've got together today. And before we take this opportunity, just have a bit more of a discussion around the property pillar, some of the things that are happening currently in the markets and I'm going to hand it over to you guys to actually just have a really relaxed conversation today about property and let me do that hand it over to you right now.
Unknown Speaker 0:58
Oh, thank you. Choose Christian. Simon, thanks for coming down to London. My pleasure really appreciate you taking the time and we got some great surroundings around it.
Unknown Speaker 1:06
Yeah, as a lovely location. Yes. Great.
Unknown Speaker 1:08
Yeah, you know, but there's lots of things going on in the world right now and probably the hottest topic on everybody's lips if they're not completely bored with it. So having already is that the word? The Brexit word is, you know, why would any body bother with property? Given all the uncertainty of Brexit and Boris this or Boris that?
Unknown Speaker 1:29
Yeah, what what? What? Why not just wait? Well, whenever you invest in anything, you obviously need to do your research. And I think one things you need to look at is fundamentals. So the UK is quite a special market when it comes to property for a number of reasons. First of all, generally the population has a love and a fascination for property in the UK. Many people aspire to be property owners just for their own home and also for investment as well. So that's something is in our blood, I think and different to many years. In countries where maybe renting is the more accepted standard, absolutely, or ownership, so a big thing here, then also, I think you need to look at demographics. And if you look at the population in the UK, even if when Brexit finally comes, if it does in the UK leaves the European Union, if we pulled up the drawbridge flooded the tunnel, and nobody else came into the UK, we would still have an increasing population. And that's due to increasing birth rate. And longer life expectancy. We're living longer, healthier, generally, as a really increasing population, and yet a limited supply of accommodation. Yeah, that means over the long term, property prices and also rent for property should continue to go up. Yeah, that's a fundamental. So that's a fundamental which no one can argue with. Yeah. What people don't know is what effect will Brexit have on the economy? We've already seen the disastrous effects its had on the pound. So in fact, when we were sitting in London moment, London when Brexit was first announced, so they did reference everything to leave, you know, the pound was low. And actually a lot of European people, and some Americans flooded into London to buy property because property at the time was cheap, because lot of people were nervous and was selling Yeah. And also the currency was very low. So London was on sale. And you could also say, actually, now because the last year or so, London prices have come down, and that always happens for the last 10 years, you've had a very strong rally and prices were to crash in 2008 2009. around the whole country, London because the high demand here has absolutely boons and when things boom, they will slow down, and they come down and we're getting a market correction anywhere at the moment. And in fact, it's probably happening more in London than it is the rest of country. Some country is still doing well. Burma wide is still doing very well but why actually going to happen when we leave. Now, what if we look the thing about fundamental supply and demand? One thing has absolutely happened. And because we have the property investors network, we have 50 meetings around the country. I'm in a slightly unique position, I have my ear to the ground. I know what's happening at grassroots level at 50 locations around the country. And what we're hearing is that there are a number of people who might have HMOs houses multiple occupation, and maybe some of the 10s might have been foreign workers. And and we know for a fact that a number of foreign workers have left the UK already.
Unknown Speaker 4:38
And but that effect has already happened. And the UK government's made it very clear that they don't want to get rid of people. They don't want to send people back home. And actually there are many Europeans who are here, ensconced in society. They've got great jobs, they've got families, you know, and they're settled and they want to stay. And I think the UK government doesn't really want all the English people coming back from European to England anyway. So so there's that kind of status quo. And so I think that actually, in terms of property, yes, we're seeing a dip and a lot of people saying, well, because we don't know what's going to happen, let's wait until we know what's gonna happen. The thing is, even when we leave, it probably will take a couple of years to see the true impact and understand significance of the UK, leaving the European Union after so many years. So is someone going to stand back and wait until two years three years time? Who knows when we've seen all the consequences? Now interestingly, whenever there is uncertainty in the market, which absolutely is right now and many people are waiting, that actually presents massive opportunity. And the reason is this. In any market yourself, some people are buying and some people selling at the moment, there are not as many people buying because of the uncertainty and people are waiting, see what happens. But you've got all the people who would normally sell still need to sell and we have the impact of clause or section 24, which came in late 2017, which is the change in the way the government tax property investors. Now generally property investors historically, if they're holding long term, they buy their own name. And that was more tax efficient, because of Section 24. If someone owns property in their own name, and if they are a higher rate taxpayer, the reality is they're going to start paying more tax. And the 1.75 million landers, I don't think probably at least a million of them really realized the consequence of that until January this year. When was the first tax return that was raised to the 1718 tax year? And they thought, hang on, I'm paying more tax wise that I've done the same amount of work, I'd say, Man, how can we pay more taxes, no counters at all, by the way that section 24 and it's gonna get worse for next three tax returns. And so we are grassroots level the pin meetings, we're seeing more and more long term landlords who might have been investing 1520 years yeah, and their exit Kevin was at some point to sell their portfolio return a big part of money. We see a lot of who are thinking about Bringing that decision forward. Because otherwise you're gonna paying a lot more extra taxes next few years. So what that means is, I would suggest there's actually an increase in property coming to the market for sale. So we've got maybe a reduced demand, we've got an increase supply, which means that's why London prices come down a bit. And also, it's gonna happen other parts of the country. So actually, for those of us know what we're doing, it's a great buying opportunity.
Unknown Speaker 7:28
But you make the big point there that those of us who know what we're doing so the essence of all of this is good education, isn't it? And that's, as we as we both agree,
Unknown Speaker 7:35
is, that's very fortunate for me, obviously, as I teach people how to be successful, but I know, I know you're a great fan of education anyway. And yes, you do need to order any idiot can go and buy a property. The problem is many idiots do go and buy property. Yeah, you have to buy the right property. You got to buy the right area. You got to make sure it stacks up gives you I mean, in my book, we talk about the Five golden rules. Rule number three is we only ever bye bye Property makes cash flow, because it's been an asset. If it doesn't make you cancer, it's a liability and could cause you problems. And a lot of people say, Well, okay, Simon, I get what you're saying. But wouldn't it be sensible to wait, wait until the market hits the bottom, and then when it hits the bottom, then come in and buy the property. And it's kind of a bit like a philosophy people take from the stock market, whether you're ethically you, you buy low and sell high. And that's great in theory, but I would say to you, Kevin, I don't know about you, I have no idea when it's going to hit the bottom. My crystal ball is broken, Exact Same here. Yeah. And the problem is, once it has hit the bottom, and everybody thinks it's coming back up, sellers are far less likely to give you a discount because they've got the expectation that someone will come along and pay more for their property because everyone feels price to go up. Now because there's a massive uncertainty actually now you can probably use that to negotiate a good discount. And there is a chance that you might buy something in the next six months and the following year, as So it might come down in value. Now, that's a problem if you're buying and then trying to flip and sell on, but that's not a good strategy for the market, as long as you're holding for long term, which, by the way is golden rule number four, and the Five golden rules, you know, buy and hold for long term. That's how you create the real wealth creation. As long as you've got that positive cash flow coming through and you can't afford to hold it does not a problem
Unknown Speaker 9:21
is while you're talking about golden rules, I think it's going to make sense for me to suggest that everybody gets a copy of property magic, because there's no point just learning to have the golden rule.
Unknown Speaker 9:30
Well, I'll tell you, the others have Golden Rule what they should actually go and buy the I tell you that was very quickly. So Golden Rule number one is, we always want to work with motivated sellers, that's people for whom have a requirement for speed and certainty, such that sometimes the amount of money they get is not as important as actually getting the property sold. Now only 5% of sellers going to be motivated. So we need to find those 5% or we can find them through marketing, advertising, etc. Now, just because someone's motivated doesn't mean we should buy the property. Second Rule number two is it's got to be an area strong rental demand. Someone might be sending a cheap because they can't rent it out. Well, that's no good. You don't inherit their problems. So you've got to make sure you check it out on internet on the demand speak to local letting agents there must be a good supply of tenants who are prepared to pay the fair market rents if one tenant moves on you quickly and easily replace them with another tenant.
Unknown Speaker 10:22
And of course, in a recent podcast, we were talking about the different tools that people can use themselves to test absolutely land in the market for the average rental in the market. Yes. So these are all within reach. Now they're all
Unknown Speaker 10:34
there. You know, with the end, when I started investing back in 1995, the internet wasn't around and we had to, we would go to an estate and we would look at all the printed out towels would we would have to want to arrange an appointment to go back into our house, we'd have to call on our landline phone, make the appointment turn up at the allocated time. If you were late. You didn't have a mobile to call someone right. So it was a very, very different society then. So fact there's so much information now. In a way is easier, but then also, it's it's harder because there's almost too much information here. And people can get overwhelmed. And also, anybody can put a video up on YouTube. And it doesn't actually necessarily mean they know what they're talking about. So you got to be careful where you get your information from as well. So, just to recap, God, Well, number one was buy from work and motivated sellers. Yeah, got that I find it ethical solution to help them. Rule number two was buying an area with strong rental demand. And we know you can test that, as you've talked about previously. Yeah, well, number three, which I've covered already, only by for positive cash, right. What we mean by that is at the end of the month, we take the rent, you take off the mortgage, which the biggest cost, the insurance, the maintenance, ideally, the management fees, because you don't really want to be managing yourself. So factual lows in at the end of that you must make profit otherwise, it's not an investment. It's a speculation.
Unknown Speaker 11:54
And that resonates truly with wealth building principles, which is, you know, an asset is something that puts money in your bank account while you were asleep? Yes, indeed want to measure the increasing levels of asset income flowing? So we're hundred percent in agreement so far yeah.
Unknown Speaker 12:10
And thinking about property is you know, quality isn't completely passive. You know, a lot of people do start to manage it themselves. And it's very possible to a couple of properties is not a lot of work. I got into what I call the landlord trap. And when I was managing, when I first started investing, I was managing because I didn't really want to pay an agent, I thought I'd do a better job. And as always say I quite like the novelty of meeting connecting with the tenants. That third one by the way, the novelty soon wears off but but still, and but I realized that whilst I can manage a few properties as I got more and more, I took more and more time managing and less time buying and you make the money when you're buying the properties. So it's a brave step for a lot of people but actually, if you can possibly, if you can possibly go to the point where You have someone else managing for you. It frees up your time. So I am a property investor. I don't consider myself a landlord. I'm still responsible for the properties I'm just wants for the tenants. But I have other people managing them for me. And what that means is I have my time to do this. I'm a time to teach people this what I love to do is, you know,
Unknown Speaker 13:21
what, I think the the value there is you have the experience of what the management meant.
Unknown Speaker 13:26
Exactly. I think you then appreciate it may Exactly.
Unknown Speaker 13:29
I've had conversations with some of our members. And they say, Well, I don't want to manage anything. So but you need the experience of Yeah, understanding what it needs to happen exactly in order then work out how you want it to be managed, and then appreciate the extra value that it gives you. And then your case if that's time to focus on your business and those sort of things then that's perfect. So what's the SI
Unknown Speaker 13:49
I number five is you need to have a cash buffer. So a little bit of money put aside here because sometimes things happen that maybe aren't covered by insurance. You might have some tenants who, who disappeared takes a while All you have to victim takes a bit of time to get them out and you got to pay the costs of that. And maybe they they don't look after the property, you will spend a little bit of money tidying up. And I see some landlords who don't have any spare cash. And it could be cash in a bank, it could be just a credit card facility, but it's some asset you can use to pay to fix any problems so that you can very quickly rent the property out again, and thus get the rental income coming back in.
Unknown Speaker 14:27
And again, that's a principle we teach in wealth building, which is you know, one of the essence of the the roof which is being safe, is having enough money in emergencies. Yes, is to take over. Yes, the same
Unknown Speaker 14:37
thing in business and in property. It happens. You know, I'll be perfectly honest, in my business, I've had cash flow problems sometimes because you sometime expand too quick or and in property that we had a big policy and property is that some people have got property but they don't because they want to get more all the income coming in that they're investing in the next property. And they're aggressively expanding and the two forms that a that everybody gets To enjoy the work they're doing, or the benefits of the work, but be they sometimes don't have enough spare cash. So it is these five golden rules I put together when I was first writing property magic at the end of 2007. And by then I'd been investing 12 years and I'm a huge number of mistakes. But in 2003 when I created property investors network, I started teaching other people I noticed many people making very similar stakes. I thought it's got to be some some guidelines or principles and thus came up with a golden rules and I still think they're, they're obviously valid today as well.
Unknown Speaker 15:31
So Okay, thanks for sharing the fundamentals. And obviously, there's a lot more in property magic, and I know you updated all the time. So you know, if you're updating it now with some strategy that might be just worth a few more minutes on, that you think would be just useful to expand just a little pick some calls out, okay, that you think would be useful in today's environment, right.
Unknown Speaker 15:52
So So there are many, many investing strategies. And I wish there was just one strategy women make my job so much jizya Yeah, but different strategies that will suit people determining how much time they've got, how much money they've got, etc, etc. and but there's a general Actually, it's not so much a strategy, but a tool. Yeah, that can be used that is particularly relevant right now, which I'll tell you about. And also it actually works in conjunction with any other strategy. So if you want to, you're doing houses multiplication to service, accommodation, doing property flips and property for as may not be the best thing to do in the current market, but whatever you're doing, you can use this tool. And the tool is called a purchase lease option.
Unknown Speaker 16:35
And that sounds a complicated piece of language and as diamond.
Unknown Speaker 16:38
Now, let me really simplify will definitely simplify for you and actually the name gives it away. So a purchase option is whereby you have the right to buy an asset at sometime in the future, at a price agree today. So let's say a property's worth 200,000, which is the average value in the US A bit more down here in London, obviously, but the UK average is 200,000. And you would enter into a contract with someone that you can buy that property for 200,000. But not actually give them the money now, you get to buy it at some time in the future might be three, five years time, but the price you pay is 500,000. Now we needed it. So I beg your pardon. 200,000. Yes. So you you agree the price today, and it's worth 200,000 now, and it might be worth more in the future, but you still get to buy it for 200,000. So you'll anybody agree to that? Well, you might, that's a great question, Kevin. And you need to always put your shoes stand in the shoes of the other person to understand why they might do something. So let's say someone's got a property and maybe they've inherited this property. And usually with an inherited property, it needs a bit of work doing to it. Okay. And they don't want this property is the other side of the country. They don't want to be invested. They want the hassle of being a landlord, but they want to sell it and and they inherited it. really need the money that's going to put the money in the bank. Now everyone knows right now, there's, you know, yet hardly any return on money in the bank. And so if they put that money in there, they took that put that 200,000 in the bank, you know, they might make 2000 pounds a year, if they're lucky, if they're lucky. They're very lucky, right? Instead of doing that, you could say, Well, I'll tell you what, how about if I was going to give you I'm making these numbers up here, maybe 400 pounds a month, which would be 4800 a year, but so two, two and a half times the amount they can get in the bank, okay. Okay. And if I did that for five years, while I'm giving them probably an extra 3000 or so more than hitting the bank for five years, actually 15,000 right. So they're getting the 200,000 the full price plus an extra fitted, so that prompt is giving them 215,000.
Unknown Speaker 18:51
Now with that frame of reference, it makes it always angling.
Unknown Speaker 18:53
Now, the other thing is, it is better than that. Because realistically, in today's market, someone's not going to give them the full Price the 200,000 people might want to buy it for 190 500. Maybe 180 was got a lot of work to do to it. So we're actually giving them more than anyone else would get
Unknown Speaker 19:08
right now I'm paying agent fees as well,
Unknown Speaker 19:10
exactly. And they're getting a better return. So if they want to maximize the amount of money they're getting from this property, this is a way of doing it. Now. There are a couple of caveats here. The one caveat is this only works if they don't need the money. When someone's trying to sell a house, there are two groups of people. There's the first group, which is the majority, they're selling a property because they want access the equity in that property. Yeah, maybe they want to pay down their own home. Maybe they want to invest in a new business, clear some debts, pay for the daughter's wedding, whatever it might be. Yeah. There's a second group of people who are selling because they don't need the money. But mother just don't want the property. They don't want the hassle. They don't want liability. They don't want the expense. And in some cases, maybe there is no equity. Maybe the property's worth 200 and the movies 198. Yeah, and they did Don't want the property. And in that is golden rule number one. It is Yeah, so they're motivated they don't want it. In that case well that they're not doing because they can because there is no money but they don't want the hassle so we can step it and that as well as the mortgage we will actually pay their mortgage for that stays in their name. They're still the owner, we pay the mortgage, we take on the maintenance, the pave everything. So they take a walk away, forget about it. And then in the future, five years, three years, I will pay for the full market price. If they were if they had a mortgage 198 and they probably wouldn't find someone who would pay them enough to cover the mortgage and the legal costs. So if they were to get out their products, but 510 thousand pounds ago money and so this saves them dig into it. So the thing about a purchase lease option, and if people are interested, they may have heard about it. I always say to people, if people have they think they know about it, if they haven't actually done a purchase something they don't know enough about it because if they did know about it, they would absolutely be doing this, okay. It doesn't fit every circuit But let me bring this round again to the wide so relevant right now. It's something that I've been doing. I think I did my first one in 2007 by mistake. I say learn. Absolutely. Well, I agree to buy this house from this gentleman who was a motivated seller. He had actually moved, it was actually a flat, he'd moved out. He was in a race I cleared the areas and I said I'll pay the mortgage until I could buy it. Now fortunately, it was a freehold flat free home, that's a very difficult word towards get mortgages on because of what who's looking after the roof, etc. So, and it was in Maxfield, I didn't really want to buy a cash property matters not good to buy some in cash. So I had to sell it. So I had the I had the right to buy it, he couldn't send to her house, and I basically assigned it on someone else. So I found after a few months, a cash buyer who bought it at a higher price, and I walked out after my costs about three or 4000 pounds but from having made a mistake and committed to buy something that I then couldn't buy through chance Master said, Well, why do you do this? And I educated myself found a great solution that actually made money while losing money.
Unknown Speaker 22:07
And that lesson stood you in good stead for the can. Absolutely,
Unknown Speaker 22:09
absolutely. So that's so there are many different ways you can use this strategy poses option. And the reason it's so important is because these landlords I mentioned earlier that part of the oversupply is because landlords are starting to sell properties because it's not worth them hold them anymore. If I looked at a number of properties, and they sell them all in the same year, they're going to pay a lot of capital gains tax. So capital gains taxes, the difference between when you buy a property, that's not your own home, and you sell it hopefully for more money, there's going to be a profit there, you take out your buying and selling costs and things and any capital improvements you've made. But the profit you have to pay capital gains taxes. Now Currently, we each get an individual allowance each year of 11 and a half thousand pounds. So you can make 11 half thousand pounds of capital gain and not pay any tax if you're married. By the way. If your partnership is double, that's 23,000 panels. But that's not perfectly that's per year. So someone says all their policies and Mongo have already got one announced to us. Whereas actually, what would be sensible for that land was if they sold the properties over a number of years, each year, they could get their capital gains allowance. So therefore, they can reduce the amount of tax they pay. And the problem is for a landlord who wants to retire, they might not want to wait until the five years or six years to the last and I still have a hassle. So we can step in, we can control the properties, we can cover the costs, then go sit on their beach, we're going to have a planned shedule of when we buy those properties, we control them under option until that point, and so they're going to pay less tax. We've got potential capital growth and cash flow in the meantime. So it's a win win for everyone involved.
Unknown Speaker 23:51
So I guess there are two aspects they're on there really, one is the understanding, which is the educational piece within the wheel of wealth which are welcome The listeners will have heard many times before. Yes. And then secondly is how to find these motivated sellers. Yes. So I presume there's a lot of education on those matters within the whole of the sort of pin educational? Yeah,
Unknown Speaker 24:12
absolutely. We have specific training on that particular strategy. And you know, strategies come and go. This one is one that's been around for a long time, but it's just right now, probably for the next 12 to maybe 18 months. But as these land was looking to sell, you know, within within, within 18 months, all the lambdas that want to sell, it probably will have done something about it once you want to hold or long term, they'll be doing that. So that, as always, whenever you hear a strategy, it's always important to make sure it's relevant for the current market. And I'm a great believer in what I call speed of implementation. When you hear something, learn it, do your research, get out there and do it because sometimes when I first wrote property magic back in back into 2007, that was a great strategy where we were buying property, literally no money down and I won't go All of an artist from to complex. And I described step by step exactly how you by putting no money down. And there was nothing the book alone probably was going to do that. And if I had I had lady bump into me a couple years after I voted Simon, thank you very much. So why would you mean I've never met before? So I've read your book, first edition, and I read your book, and I went out and bought and flipped 10 properties. And and my husband I were at work, just from the book. It was it was that detailed. Now the problem was, and somebody would have read about us, but I'm going to do that someday. The problem was a couple of months after publication, that particular route of funding deals have dried up. Yeah, because of the credit crunch. We couldn't do it anymore. And and the rest of the book was still valid, but that particular chapter wasn't anymore. As a people who saw that I'll do that one day, you know, you got to keep up to date. You gotta, you got to. That's why there are sixth sixth edition of the book now because I The market keeps changing. And even if you are an experienced investor know what you're doing if you're doing now what you did five or 10 years ago you're probably not making the most of the common as
Unknown Speaker 26:10
you already mentioned there are a number of landlords who had previously bought properties didn't really pay any attention to Section 24 Yep, they get a tax bill they suddenly wake up to that and go bloody hell what happened there exactly even though was well document yet but they were just switched off
Unknown Speaker 26:24
and you think a landlord would be would their consciousness would pick this things up but it talked about in the news and things but they obviously missed it for whatever reason? Probably because they're not reading property magazines or they're not going to network meters and not keeping up to date because they made their investment years ago. Yeah, and I think I know it will now. I mean, people sometimes who have been really successful for like last 510 15 years, they've got another point, but they've only had one strategy and they've just done it and there's there's merits to that you know, get something master it and then cookie cutter it. But they think because of that they know everything. Okay? was in fact, you know I don't know, I've been doing this for a long time. So I encourage everyone to always be open minded and and be a lifelong learner.
Unknown Speaker 27:05
Well, I appreciate the humility of that as well. So I'm and that's why we resonate. So we can come back to that point of education. And you know, definitely I would speak loudly of your own integrity and what I've shared and learned for you, and vice versa, I hope and would be great to give people a link to property magic, right?
Unknown Speaker 27:25
Yes. So you can go and buy property magic on Amazon. There's the Kindle version. I quite like the physical version. And this year, the sixth edition. We've actually for the very first time bought out an audio version, local lights. I prefer listening to things
Unknown Speaker 27:39
did you did you buy silver laser?
Unknown Speaker 27:40
I voiced it myself. Okay. It was it was a painful experience. I stuck at a booth for two days, but I wanted to do it myself.
Unknown Speaker 27:47
Well, listen, thank you, Simon, so much for spending your time today. And I hope our listeners got a really good insight into why they should plant a tree today because they couldn't do it years ago. Exactly. And why they should look at some new stuff. Keep up today.
Unknown Speaker 28:01
Thank you very much awesome on the podcast Yes, I'm Thank you.
Unknown Speaker 28:03
It's been very interesting listening to you two gentlemen speaking today, Simon, just before we let you go, can you just tell us a little bit about the background of pain and the monthly meetings that have occurred so
Unknown Speaker 28:13
what I was able to replace my income during a very much on my own, but make to what I call trial and terror, making lots of mistakes. And in about the year 2000, I attended a Tony Robbins events and Tony Robbins, who's a country you know, peak performance Americans coach and he kind of instilled in me the idea about community and learning from other people. And I thought about for for a while, and then in 2003 by the time I left my job, Cadbury's thanks to my thanks my income from my property, and actually was quite a lonely journey. And all my friends working no my family ever invested. So I thought, you know, there's gotta be smarter way and I went online, to see if I can find some sort of group for property investors and but there wasn't anything. So being a creator profile. decided to start a group up. I call it a property investors network just started in Birmingham industry was living having gone to university and worked to caprese there. And then we started London meeting and started to grow. And I started to teach other people what I had learned. And then actually, I realized that while I'm passionate, I love to teach people, and particularly when they go away and take action and come back and get great results and get a real buzz from that. And then what happened was people who are coming to Birmingham, and London said, Hey, can we set up our own meetings? And so we've done our training done really well. They became a host. And we now have 50 meetings around the country run by a host of all successful investors. And it's about supporting people in the politician. We have people who are completely new, we're just thinking about poverty and people who are really experienced maybe already financially independent and, you know, it's all about coming together and getting a boost of property. Property positivity, when everyone out there might be saying why don't if you do property and that's what the general public think, but as we've just discussed, if you know it, doing now is a great time to invest you want to, if you want to get advice and help, you want to listen to the people who've got the experience, and not people who've just got an opinion about it. So you gotta be careful who you listen to. And if you want to find out about the meetings, then go to the website, which is pin meeting p i, n meeting.co.uk. All the 50 meetings are listed there, they can pick on the relevant meeting, they've got the dates, the location, all the details, and then it's 20 pounds to come along to meeting but as a thank you to you, we discussed this and a gift to all your podcast listeners. And if they go down to the click on the event, they won't go down to the bottom of the page, where it says you know, we pay for it, there's an option to click on pay with a voucher code. So you go and enter your details. And if you use the voucher code, wealth builders, and they put that in what will happen it will bypass the payment page and they'll be able to come to their first meeting. save themselves. 20 pounds is my gift to you for coming on the podcast. And come along and see what you think. And if you like it, hopefully go back again. And it's 20 pounds to go along in future. If you don't like it, hey, well at least you you know that maybe poverty isn't the right thing for you but go and check it out for yourself
Unknown Speaker 31:14
and get that boost of positivity,
Unknown Speaker 31:16
get that boost of property positivity. Yes, that's
Unknown Speaker 31:19
a very kind offer. Thanks so much for that Simon. And we'll definitely link to that in the show notes today. So once again, thank you. We have been live on location here today. So if you hear a few people in the background, and hey, we've we've done our best but thank you once again, gentlemen, thank you to you.
Unknown Speaker 31:37
We hope you enjoyed 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
Transcribed by https://otter.ai