Build your support network

Property investment can be very much a solo career, but a smart investor has a strong network surrounding them.  It makes everything easier and projects go more smoothly.  These are my recommendations for who you should have in your little black book.

• A solicitor who is familiar with property - and, if you’re serious about building your portfolio, understands how bridging finance transactions are carried out and is sufficiently flexible and efficient to carry out the legal requirements swiftly.
• A good independent broker who can access the whole market and has experience of mortgages, bridging and development finance and will give you good advice.
• A reliable builder, carpenter, painter & decorator, electrician, plumber, and maybe a gardener, who will help with refurbs.

It’s wise to build good relationships with your local estate agents too.  If they know you’re a repeat purchaser and you can process purchases efficiently they’ll start to flag up interesting deals that come up.

Even mentors have mentors!

Instead of going it alone, it’s good to have a network of other people who are in the same business.  Other property investors are a community where you can get (and give) advice, share problems, have a rant from time to time and get support and encouragement.  Find a forum where there are like-minded people (Tip: if you’re already a Ninja Investor there’s a private Facebook group that fulfils exactly this purpose).

A coach or mentor is also a good idea.  Every sports person has a coach - usually several for different aspects of their development.  Every successful business person usually has a coach or a mentor too, to help them gain perspective and remain objective, as well as being someone to bounce ideas off and benefit from their experience.

I’ve found out from experience that when you’ve got someone holding you accountable you get much more done.  If there’s nobody to answer to, it’s easy to find great excuses for putting off action (we’re all very good at finding reasons to stay warm and cosy in our comfort zones).

Whether you get involved in a Mastermind group, work 1-2-1 with a coach or mentor or in a group, I guarantee it will make a significant difference to the results you get - both in speed and in profitability.  Any investment you make in this kind of support will more than pay for itself.

Check out the Ninja Achievers Mastermind Group and the Ninja Aspirers Mentoring Programme.