Lesson 3: Bricks & Mortar | Turning Your Property Checklist Into Reality скачать в хорошем качестве

Lesson 3: Bricks & Mortar | Turning Your Property Checklist Into Reality

Now, you have listened, watched, and learned. Lesson one. Lesson two is where you did your checklist. If you didn't do your checklist, you need to go back because you're going to need it for this particular lesson. So, this one is titled bricks and mortar. I know you may not be looking at something or everything that is made of bricks and mortar specifically, but the concept is the same. We're going to be using the checklist to really make the most of your time when you're looking at properties. So firstly, have your checklist, digitally or in hand, whatever way you like. Refine the areas. If you've decided you want to look in North Dublin, stay in North Dublin for this period of time. If it's South Dublin, if it's Wicklow, if it's Wexford. You have to be clear on what it is you think you want versus what's happening on the market right now. The market is a living, breathing animal. It's always changing. Just because you thought you wanted to live somewhere six months ago, if you haven't tested that hypothesis, there's no point in looking now. So once you've got your checklist and you've refined your areas, you want to look at your budget. Now. Everyone's budget is different, and this is the one time where I want to say to you explicitly, stop comparing yourself to others. If you have dinner with someone who has expectations that are far higher, their budget is at XYZ, ignore it. It doesn't apply to you because they don't have to pay your bills. Stick to your budget and really use it to your advantage in understanding what's on the market at the moment. Hypothetically, if I found a certain property at a certain price, would I be happy with that? Where's the market going as far as you see it? What's your experience been so far? Refine your areas. Stick to your budget. For now. That can change, family can give you money, bonuses can appear, but just right now for this exercise, stick to your budget. If it's a range, stick within that range. I'm going to use the car example. If my budget is 20 or 30, 000, I'm not going to go looking for something that's 100, 000. Yes, give it time. Now, with your spec or specification, with your checklist you would have either gotten clear with yourself or the other person involved. What kind of spec you're looking for? Keep a slightly open mind depending on what it is you require. Now only you can answer this question. So if you are looking for a fixer upper that needs a lot of work, you may have more scope than someone that has to have a brand new property. But keep that spec front and center as to what you're looking for. And imagine the conversation with yourself. If you find something that takes 9 on the list, is it worth your while? Maybe it is. If you find something that takes 10, it can still be part of the process and be in play for you. But you want to get clear on what that specification means to you and your buying journey. Don't muddy the water by looking at things for the sake of it. Like being in an office and looking busy, you're not actually achieving anything. So be clear, be targeted as to how you spend your time, and keep that specification front and center. Next, this is the one time I'm going to say be explicit. And I'm not going to swear on camera because it's not worth it at this stage. Be explicit with your expectations. If you think it's going to take two weeks, but you haven't told anyone else, you're in for a shock. You're better off having a conversation with those involved to really understand what you're thinking, the reality, and what they're thinking. Oftentimes, when you haven't done something, you have an idea of what you think it may be, and the reality could be quite different. But if I'm going to put it in your words, imagine you have a talent or a skill that's incredibly in age to you. You just understand how it works and you almost overlook what's involved. Buying a property is the very same. Be clear on what it is you think is going to be involved versus what is actually happening on the ground. And also, anyone else who's involved, give them the opportunity without being judged as to tell you what they think it is too. Because then it means you can be far more informed as to what's really coming down the line. That's not to be negative, it's just to understand if you think it's a shorter time frame. You'll be aware that it may take longer. And lastly, although I'm reiterating it, stick to your budget. Right now, the exercise is the range that you have approved for, or the cash you have ready to go. Stick to the budget, focus on that, and use that as an exercise to see what's out there, whether it suits your needs, and what you need to do going forward. So focus, refine the area, refine your budget, stick to your budget, look at your specification, and be explicit about your expectations. Do not be afraid to share. It's a big decision, it's a big deal, and there are no wrong answers. But talk about it.