Hey, what's up? Samuel Leeds here and in this video, I'm going to be giving you my advice
if you're looking to set-up a property business. If you want to set up a buy to let investing
business, these are things that you need to consider.
What are the things that you need to do to set up a buy to let property business? Well,
firstly, who the heck am I? I'm Samuel Leeds, I'm the best-selling author of both these
books, Buy Low Rent High, also Financially Free in 7 Days. If you haven't read those,
check them out.
What are the things you need to do? First thing is you need to have a goal. You need
to have a business plan. Any business needs a business plan. So many people say, "I want
to be property entrepreneur. I want to invest in property." They've got no business plan,
they don't know where they want to invest, they don't know what they want to achieve
from investing. They have no idea.
Get a pen and paper. Even if you just start by writing down the why. Why do you want to
do property? What are you hoping to achieve from property investing?
Here's what I'd say, first thing is have an outcome. The outcome might be more far away,
so, "In 12 months time, the outcome is I am making £3,000 a month which enables me to
quit my job." That's the outcome.
Then, when you've got the outcome, I would advise then writing down the activity. The
activity that you need to do make the outcome a reality. Also, don't put the activity down
for the year. Don't say, "The activity is only to do, over the next 12 months, I have
to do this, this, this and this." No. Write down activity over the next two weeks.
The outcome for the year and the activity that I need to start to make this happen and
to build a momentum in the next two weeks because otherwise, it's like lastminute.com,
if you've got something to do or if it's Christmas and you need to get to the shop and you always
go on the 21st of December and do it. The same, if you've got a month goal, you'll relax
and who cares, I'll get to it later, you'll be procrastinating and putting things off.
Two weeks, not even a goal, the activity that you need to take. Maybe that will be, "I need
to go to these networking events, I need to view this many houses, I need to put in this
many offers, I need to introduce myself to the local estate agent." This is the kind
of activity that you need to make in the next two weeks.
Really [inaudible 00:02:19], that is number one. Have a business plan, have a goal and
have your planned activity.
Next, number two, power team. Start putting your power team together and the great thing
is when you have your business plan and you have your goal, you can tell your members
of the power team what your business plan is and see how they fit with that. Go to your
local estate agent and say, "Hey, my plan is I want to buy 3 houses in the next 12 months
and I want to view 10 houses in the next 2 weeks, this kind of house. Can you help me?"
Speak to an accountant. Say, "Hey, this is my plan. This is my business plan. My short
business plan." Don't spend three months writing your business plan. You can bang it out right
now today. "But this is my business plan. Can you help me?" Speak to a solicitor, speak
to a management company. Start speaking to people. Speak to a mentor and say, "This is
my business plan," and start building your power team who are the people that are going
to support and make it happen in your business plan.
Number three, view lots of properties. I will say, the person who views the most houses
wins. Just start viewing houses and you might feel, "I'm not ready to view houses. I'm not
ready. I need to get my business plan more accurate. I need to spend a few years on that
first or I need to get my mortgage and principal." No. Just start viewing houses.
When you start viewing houses, things just start to happen. Next thing is you then start
putting offers in. If you view house and then, put an offer in and the next day, it just
says, "Offer accepted. We need your mortgage and principal," you'll get your mortgage and
principal in the next 10 minutes because you have no choice. "Oh my gosh." You need to
get it done fast, urgent. Versus you go, "I'll get my mortgage and principal and then, I'll
go view houses." It can take forever. Just take lots of massive action and start viewing
houses because ultimately, if you want to build a buy to let business, that's going
to come from houses.
Even if you don't put any offers in, just go to auctions, go and sit with estate agents,
ask them what's around. Start viewing houses. Do it as a hobby. A lot of my success students
that have become very wealthy in property, they said that instead of playing on the Xbox
or watching box sets, they just started viewing houses instead. Take your missus. Have it
as a date. Just view houses.
Number four, I'm really reluctant to say this one. It is important, but I know that this
is the one that you want to do the most and this is the one that you'll put all the others
off to do this one. Do this. Important, but don't stop doing the others, but this one
is you should, at some point, have business cards, a website and flyers.
Where do you get these from? You can set up a website really quickly and really cheaply
on Wix.com. You don't need a fancy site, you just need a site, so that when you go to an
estate agent and you put forward an offer or you're speaking to people and you're networking
and they say, "Well, who are you?" You can say, "Look, I'm actually Samuel Leeds. Here's
my card." It looks professional. On the card, there's a website, they go on the website.
It just makes you look more professional. If you want to do business with people, people
will just take you more seriously.
Now, you don't need a business card or a website or flyers in order to make money, but it just
helps when you have a business. People expect you. If you see yourself as a professional
property business person, you need a website, you need a business card, very simple. Don't
spend more than £75 on the website and don't spend more than maybe £100 getting your first
batch of cards. You don't need 2,000 business cards, you just need a few hundred. Hand them
out sparingly. Don't just dish them out. Don't got to networking events and go, "Here, have
my card, have my card, have my card," and spam everybody. No, instead, collect other
people's cards and then, put them on your list and grow your list and just have them
ready when you need to introduce yourself properly, but don't spam people.
The flyers when I say flyers, it's like a leaflet, you shouldn't be giving that out
to everybody. The flyer is if you see a property, maybe it's got two boards outside it. It's
with Dixons and also with Jayman and you think, "They've got two boards outside, the property
looks like an little bit of a refurb. I've got a feeling that they're motivated, close
to my house," you can just pop a flyer or a leaflet through the door. When you're driving
around and you see something interesting, you see an interesting property, get out,
put it through the door, keep the leaflets in your dashboard. It just helps you as a
business person, make you more professional and it will ultimately help give you more
leads and deals.
Lastly, number five, get the training. Get the training. People say, "Samuel, you only
go on about the training because you run training." No, no, no. Don't get it twisted, it's the
other way around. I only run training because I know how important it is that training exists.
If you want to be a doctor, you've got to get the training and you've got to get qualified.
If you want to be a hairdresser, a plumber, any professional, you've got to get the training.
Same with property investment. The sad thing is that a lot of property investors, they
have no training because you don't have to have training to get a qualification to invest
in property, to have a buy to let business. You don't have to, but if you don't, you'll
lose tens, maybe hundreds of thousands of pounds and you'll leave money on the table,
and you'll potentially get burned and look stupid. Just attend the class.
We run a training company, you know. Come down. Get the experience from other people.
Don't make the mistakes yourself getting the experience with other people. I think the
most important thing to invest in before you invest in property is to invest in yourself.
Once you've got the right kind of knowledge and you know how to stack a deal and you know
how to fund it, just get training.
I invest in myself today. I've spent £264,000 in the last 12 months on my training. I really
believe in training because the bigger you grow, the bigger your capacity is to make
more money and hold more money. Get the training.
To summarise, have a business plan, set up a power team, view lots of houses and make
lots of offers, get a website and business cards and get the training and invest in yourself.
If you do these five things, your buy to let property business will blow up in the next
12 months and I can't wait to see you succeeding.
If you've had any successes from property as a result of my training or these YouTube
videos, please do let me know because who knows, we could bring you on If you've had
any successes from property as a result of my training or these YouTube videos, please
do let me know because who knows, we could you on Winners on a Wednesday. Every week,
we have success stories.
Also don't forget to read the books, Buy Low Rent High. These books, Financially Free in
7 Days, it's good stuff. It's good stuff. It will serve you well, so comment below.
I'll see you next time. Thank you so much for watching. I really appreciate your time.