Choosing Your Strategy Based On Your Desired Goals; Area vs. Strategy
It is really important to choose your property sourcing strategy based on your own desired goals to ensure that you continue to enjoy what you are doing and to stay motivated to make a success of it. In this session of Sourcing with Mark, we look at the different goals that you may want to achieve and the best strategy to enable you to achieve your main goal. Mark covers:
- Five key goals in property sourcing
- The importance of prioritizing just one goal
- How to pick the strategy that will work best (including details on outright purchase, lease options and rent to rent)
- The main benefits of each strategy
- How narrowing down your marketing strategy gets better results
- How to gain confidence and build key relationships
Area vs. Strategy
A common question that is asked by property sourcers when they are first getting started is whether you should choose your strategy first, or your area. There are various benefits and reasons to go with each but there are also several drawbacks for each. In this Head to Head, Mark reveals:
- The benefits of choosing the area first
- What you should be wary of when you select area first
- How bad habits can get in the way of success
- Why a strategy might not work in your local area
- Which option will help you to focus and build more confidence
- The recommended option based on experience
Podcast Episode Highlights
09:45 Insiders Circle Q&A – How do you narrow down your target searches or groups?
10:15 Knowing your target audience
10:50 Targeting a specific strategy
11:40 Addressing problems that are relevant to audience
12:20 Choosing problems/interest groups to focus on
13:40 Landing page related to ad
15:45 Sourcing With Mark – Choosing your strategy based on your desired goals
17:15 What do you want to achieve?
17:45 Identifying your main goal
18:45 Selecting the best strategy to use
19:40 Outright purchase
21:10 Lease options
22:10 Rent to Rent
23:05 Building expertise
25:30 Head To Head – Area vs. Strategy
26:00 Which to choose first
27:00 Benefits of choosing area first
29:05 Preferred strategy may not work in area
30:20 Bad habits with going local
31:20 Added confidence leading to more success
32:15 Exploring new areas
How To Find Property Investors
Often lack of money is the “excuse” for not getting started in property investing. But imagine having a never ending pot of money to invest in your own property deals...
Property Due Diligence: A Beginner’s Guide
I cannot emphasise enough how important property due diligence is for ALL property investment strategies! Without proper due diligence you risk taking on property deals that don’t generate you any...
The Complete Guide to Rent To Rent
Imagine a way of getting started in property investing and growing a cash flowing portfolio without the need for 25%+ deposits, Stamp Duty or even solicitors! That’s exactly what the...
Property Sourcing & Deal Packaging: The Ultimate Guide
There’s been a lot of confusion around property sourcing and deal packaging. What’s the difference between the two? How do you become a property sourcer and/or deal packager? What would...
Starting A Property Business: The Complete Guide
Starting a property business can be both exciting and daunting. Whether it’s building your own property portfolio or starting a property business finding deals for investors, I’ll hopefully give you enough information to start those property taste buds salivating and get you on the right path to achieving your goals.
5 Biggest Mistakes When Starting A Rent to Rent Business
In my years working in the property world, I’ve seen people who are starting or scaling their rent to rent business make the same mistakes. But hopefully by highlighting these...