- Are you struggling to find
investment property deals in your area?
If so, I honestly think today's video is gonna help you.
(upbeat music)
Hi, my name's Tony Law from Your First Four Houses
and I teach people how to build a small property portfolio
that generates a great income for them
so they can give up the day job, if they wish,
because they're now financially free.
If this is your first time here,
be sure to subscribe to the channel
and click that bell notification icon
so that you don't miss out on any of the free content
that I give you each and every week.
When new property investors first start out,
when they first make that decision
to build a small property portfolio
and become financially free,
they're often really eager to get out there.
To hit the ground running and take tonnes
and tonnes and tonnes of action.
And I've noticed that they often have this perception
that actually it's gonna be quite easy to find deals.
But here's the truth, it's not easy.
Now don't misunderstand me,
there are fantastic deals out there.
Probably within a mile of where you live.
But is it easy to find them?
No, it's not.
The truth is, to find great deals, takes a lot of effort.
It's not just about going onto Rightmove
and doing what everybody else does,
although you should be doing that as well,
but you've really gotta dig for great deals.
And I talk about ways to find great deals
on this channel all the time.
But here's the problem, if you
are putting in all of the effort,
but you're still just not finding the deals,
it can be really soul-destroying.
You could feel like giving up.
I know because I've absolutely been there,
I've absolutely felt like giving up when I first started out
because I just couldn't find the deals.
But you can't let yourself become despondent.
You've got to keep looking, or to put it another way.
- Never give up.
- [Commander Taggart] Never give up.
- And never surrender.
- Never surrender.
- So make sure that you're putting time aside
each and every week to find those deals
because it does take time to find them.
There are certain tasks that you've gotta do
that take time so book that time into your diary.
Get clear on what your strategy is
and only look for deals that align with your strategy.
By the way, if you want any help with your strategy,
maybe book a strategy call with me
by clicking on this link here.
Work out what your minimum
acceptable return on the investment is.
So that you quickly recognise
a great deal when you find one.
Start building those relationships with estate agents
so that they think of you first
when a fantastic deal lands on their desk.
And make sure that you are indeed in a proceedable position,
so that when that agent calls you with that fantastic deal,
you're ready to go.
And take all emotion out of any buying decisions.
This is never gonna be somewhere
that you're gonna live is it?
This is purely a rental property, this is a business.
But ultimately, if you're analysing deals on a regular basis
but they're just simply not stacking up,
you can't seem to get them to stack up,
that's not necessarily a bad thing.
Give yourself a bit of a break here
because you are recognising the fact
that these aren't actually great deals.
They're not stacking up and that's a good thing,
so just keep going.
I can't begin to tell you how many properties I assessed
before I found my first great deal.
And so honestly, I promise you
that that absolute gem of a deal
is just around the corner if you keep looking.
And so remember.
- Never give up, never surrender.
- (laughs) Never give up, never surrender.
- [Gwen And Alexander] Oh, shut up.
- No, never give up, never surrender.
- Never give up.
- [Crowd] Never surrender!
- Damn the resonance cannons, full speed ahead, eh.
(crowd cheer)