Liam is joined by special guest, Paul, who shares his journey of building a successful property portfolio, guided by mentorship and determination. They discuss the importance of mindset, networking, and perseverance in achieving financial freedom through property deals, and showcase the power of mentorship and the impact it can have on one’s journey towards success in the property market.
KEY TAKEAWAYS
- Building Relationships: The importance of networking and building relationships in property investment is highlighted. Long-term thinking and follow-up are emphasised as key strategies for securing deals.
- Mindset and Persistence: The significance of mindset and perseverance in overcoming challenges is underscored. Paul’s journey reflects the power of staying calm, being persistent, and viewing challenges as opportunities for growth.
- Mentorship and Education: The value of mentorship and continuous education in achieving success is emphasised. Paul credits Liam with providing guidance, accountability, and support throughout his journey.
- Family and Legacy: The impact of Paul’s entrepreneurial journey on his family and children is discussed. The importance of teaching financial literacy and creating generational wealth through property investment is highlighted.
BEST MOMENTS
“I started watching you, started listening to what you were saying, and I was really intrigued by property and what you were saying, how you can find financial freedom and generational wealth.”
“The wins were, firstly the wins came from me following your guidance in the sense of you always said to me, just do one, two, three things a day and that will help you go forward.”
“The magic is in the follow-up. And not everyone’s going to want to give you their properties. But you don’t need everyone’s properties.”
FULL TRANSCRIPT
If you’re listening to the dealmaker podcast, hosted by multimillionaire property investor, entrepreneur, and Guinness World Record holder, Liam Ryan, discover how to start scale and grow your business, become a better negotiator, create more opportunity and make massive profit. So you can live the life of your dreams.
Oh, welcome into the studio. My absolute pleasure to be here. Well, we’re 18 months into our journey together. Yeah. And it’s been an incredible 18 months, of course, with lots of ups and downs. But you have just secured your fourth property deal I hear? Um, how are you feeling? Right. Now, if you could sum up four deals in one or two words? How would you sum that up?
No, I feel absolutely excellent. You know, I’ve come a long ways, you know, and you know, like you say, There’s been ups and downs. But when you start seeing things come together, you feel great, you know, you realize that everything that you’ve been doing is been worthwhile, and it’s really paying off.
Excellent. So four deals in the portfolio? Yep, we’re gonna do a deep dive in a few moments on one, if not two of those deals, and surely show our audience how to find fun, fill it or flip these, we’re going to talk about your strategy. So to get started, take us back 18 months ago, what was life like? Yeah, and what motivated you to then become a professional property investor part time, alongside what you were
doing? Okay. So as you know, my day job at the time was running another business, which is vehicle transport business. So I spent a lot of time driving around the country. And I thought, you know, really, I want to release myself from this, I want to be able to spend more time with children and so on. So I started to watch some videos in YouTube, Guess we’ll come across yourself. And I remember thinking, This guy’s making a lot sense. And, and that’s what changed my direction, really. So I started watching, you started listening to what you were saying. And I was really intrigued by property in what you were saying how you can how you can, you know, find financial freedom and generational wealth, and all those points. And I thought, I’m really interested in this. And it resonated with me all the things that you were saying, I thought, yeah, that that makes so much sense.
So would you say that I motivated inspired you to be open about going down a different path? Absolutely.
without you even knowing me, you did that? Yeah.
I do tend to be all over social media. But that’s nice to hear. I’m always interested to hear how people started their journey with me. So anyway, you then come to one of my training events, that’s right, you invest into my advanced training, you then come into my high level mentoring, why did you decide to invest into advanced training and high level mentoring with me in the team, you know, because I knew that I needed education. And I knew I know from life experiences that sometimes you try to join the dots up on your own, and they never really get joined up. And I knew I realized through self educating myself, that I needed to be, you know, following someone or being with someone having a mentor, someone that could guide me through the difficult times through, you know, the challenges that I have. And I knew I had to find someone that resonated with me, and that person was you. And that’s why I decided to do
it. And you know, we’ve actually built a really nice relationship together over 18 months, you know, we hang out, we have fun together, you’ve been on our retreats, you’re coming out onto level two retreat later. We go on walks together, we’ve had food together. And yeah, you know, it’s not just about me, it’s about me and my senior team. Now, part of the mentoring with me is that you get to come to live coaching days, online and in person, how would you say those mentoring days have helped you get the result that you’ve got today?
Oh, that they that they have been absolutely fundamental to where I am, you know, to be fair, if I had not had those, I would have probably given up a long time ago. You know, the support I’ve had from you, and your mentors that you’ve, you know, there’ll be access to who’s been instrumental to what I do. It’s, you know, it’s helped me with things like mindset, with, you know, knowledge about the strategy that I’m in at the moment. Help me when I’ve gone through real down points. You know, as you know, the background to me is I’ve really struggled in certain areas, but, you know, I’ve always persevered. That’s something that I have in me, and I think that’s something I would always tell people, you just have to keep going and just follow the guidance that you guys give, and you’ve given me that and it’s made. It’s made a huge difference. And now, I feel a year later, I’m a different person. Ciao. I see a challenge as an opportunity. I see mistakes as an opportunity. You know, all these things that you’ve taught me are really coming. You know, it’s like your whole mindset has changed lately.
And you know, the freedom formula, which I teach the seven step guaranteed system. Step one is, hey, is mindset. And he’s actually the thing that most people ignore, or they don’t like to look at. Because ego gets in the way, doubt gets in the way. Fear gets in the way. Yes. But actually, you came into this program 18 months ago. And I remember you said, because I asked you, I will do whatever you ask us to do. And you’ve just applied yourself. And you know, that first 12 months, there were quite a few ups and downs, because you were working full time you were traveling all over the country. Yes. However, in the first 12 months, you have some incredible wins. What would you say were those winds in those first 12 miles. So that led you to get that first deal?
Well, the the winds were, firstly, the winds came from me, following your guidance in the sense of, you always said to me, just do 123 things a day. And that will help you go forward. You know, you don’t have to try and change the world in a day, you just tried to do two or three things a day. So I followed that guidance. And I still think that was instrumental for what I did, because I had so much going on. But I think that and because I took note of that, and I followed your guidance, I started to realize that I need to, I know if I’m busy, then I need to find someone else to help me. And that person was a VA virtual assistant, which was instrumental and I got your guidance on that. And that’s what helped me get my first deal.
So for those listening in, because this is going to lead us really nicely now on to how you got your first deal. So you got your first deal within the first 12 months, you didn’t have much time to get the deal, you realize that you were up against time. So you hired a virtual assistant. So anyone tuning in a VA is a virtual assistant, where was your virtual assistant based in the Philippines? So in the Philippines, and how much were you paying your virtual assistant every month? I was paying a five pound an hour. Okay. And I took her on for six hours a week. Okay, so it wasn’t very much 30 pound a pound a week, you know, now I could budget for that you can’t get a cost of coffee and a sandwich really? You can’t so and this and that’s where it’s died.
What was her main role for So you took on this va 30 pound a week to take away a lot of distress. What What was she then focused and targeted on?
Yeah, so she was focused and targeted on communicating directly with letting agents. So I just targeted her to contact a certain amount of data through emails and messaging, because I didn’t want her to worry about the phone calls or anything like that. I just wanted to message them. And she messaged letting agents and then she went direct to vendor as well through open rent, and some other platforms. The particular one that we found it was a home 99 or something like that. And so she was messaged them, but the message had my name on it, and the people would find me. So I had lots of phone calls every day while I was driving around in my transport business. I’ll get the phone calls. And and I’ll I’ll build relationships up with those people. And that’s how it really started.
Okay, great. So that’s actually how you found your first deal. Yes, so you got that. So you va 30 quid a week, she sending out these messages, you then get a phone call from you didn’t know at the time was going to be your first deal. Yeah. Talk us through how did the conversation go? What what do you say, when you get this type of phone call? And then how did you build a relationship to ultimately sign the deal and get that property in the portfolio?
Well, the one thing that I was very important that I learned from you was that you said you know, this is not about you getting a sale or getting the property straightaway. It’s about building relationship. So I listened to that. And I I wanted to build a relationship with that person. So I asked a lot about what they were looking for what what issues they’ve had in their past what was created, you know, the more you know, perhaps we’re interested to rent this property out again. And so I got a very good understanding of what the landlord wanted, and where they want to be what they were looking to achieve. So I could really address their concerns I could help them and I looked at it like that I really wanted to help them and that’s why I was doing so. And yeah, okay, great. So you generate the lead, you secure the deal. And the strategy for this what’s the strategy pool, so rent to rent, serviced accommodation to rent
serviced accommodation just to be clear for anyone tuning in, perhaps for the first time, or new to property, so rent to rent is where you rent the property from the landlord. Yes, you use the correct type of legal contracts. Yes, that allows you to sublet it on a night by night basis, using it as serviced accommodation. So you have guests rather than tenants. That’s right, you then pay the landlord, the guaranteed rent? Yes. And then you make the difference is that 100%? Excellent. Rent to rent minimum cash in maximum profit out? Am I right in saying you haven’t got to go get mortgage? No major credit checks for financial organizations, no big pots of money. They didn’t have to do anything like that. Great. So how much did you need to invest into that first deal to get it up and running?
So I invested a deposit security deposit wherever the rental deposit, which was about 1500 pounds. Okay. I think I brought a couple of items, appliances. And that was the that was that was it? I didn’t have anything else to put in. Okay, so there’s furniture already in the property? No, sorry. The furniture I leased? separately? Yes. So I didn’t have to put that down as initial money. Let’s say two, maybe three or four grand we at least the furniture smart move. Yeah. So you’re in a deal for sub 2000 pounds? Yeah. You’re then renting it out night by night? Yeah. This deal generates you’re around 9000 pounds per year. Yeah. And how many hours? Would you say you are involved in that particular deal now? A week?
It’s, if I do two hours, I don’t do that. Okay. It’s probably about an hour. I mean, most of my work is done on the phone. You know, I’ve Yeah, I do think on the phone.
So one hour a week for nine grand a year. I’m pretty sure almost everyone tuning into this, you’re going to be inspired by this strategy? And if we can do it, you know, they can do it too. Right. Yeah. In terms of this deal, what would you say has been a challenge that you face during this deal? And how we as your mentors have helped you overcome the challenge? Yeah.
So when I first started, yes, there was a few challenges. And that’s purely because my knowledge was still building. So I spoke to my mentors, yourself and some various other mentors, and they quickly put me straight. And as you know, now I see challenges and opportunities to grow and learn. So it’s in that’s all it’s been, you know, the biggest, I think the there hasn’t really been that much of a big challenge, because I followed your guidance in the first place. So I found that everything went quite smoothly, because everything, every junction I come to, that wasn’t sure I was checking in with you. And that’s been the beauty of having you as my mentor, because I’ve been able to do that. Without you. I wouldn’t have joined those dots I was talking about earlier. And I would have been stuck. And I would have been asking people that perhaps don’t really know the answers. But because I had the guidance from you, and your mentors, it was much more easier, smoother process. So I could be professional and as well, yes. And actually stay very calm through the whole process. Yeah, absolutely. I have noticed that review, very calm individual anyway. But even when you’ve had some challenges, or you weren’t getting the deal as quick as you wanted to get the deal. I just kept saying, keep going, Paul, you’re so close, you’re gonna get this deal. Yeah. And then I remember me and the whole community, actually, we were so excited for you. Take take yourself back, Paul, for a few moments. Now, when you picked up the keys from that first landlord, and you went into the apartment and the apartment was live? Can you just describe to us the emotions and the feelings that were going on for you in that particular moment?
Wow, I don’t even know if I can explain it. But it was amazing, you know, as because the journey took, you know, a while the emotions are really high. You know, I felt this is it. This is the beginning of something really special for me, and my family and my children, you know, and I knew that that this is going to be a game changer for me. And I just felt very, I felt very proud. I felt very emotional. You know, because I thought it sort of hit some nerve, you know, some real deep thoughts of my own from growing up, but it was something very special to me. And yeah, absolutely. It just was a game changer. For me.
It is an incredible thing. Yeah. Because you know, when you start a journey like this, there will be moments where you’re skeptical. Can I really do it? Is it possible for me? And then you come and hang out with me and Jay and all the other great mentees and you see people getting results, but it’s like Is it real? be possible. Yeah. And then you get the deal. And it’s like, what was all the fuss about? I can now do this. Yes. I love what you just said there, you know, for the kids. So you’ve got you’ve got two kids. Yes, I
have. Yeah. What are the names? I’ve got Ashley, that’s 11 years old and Cassia. That’s eight years old,
also, and what does it meant to them? Having their dad now go on this journey and becoming an entrepreneur or property investor? Have you seen any change in them? Or what about your relationship with them? What what impact is this had?
Well, you know, for me, my one of my why’s is to sort of help my children, you know, learn how to be able to make choices in their future. And I know this is the way this is a possible way for them. I won’t ever force it on them, you know, it’d be something I’d want them to do if they want to, but I know that property is something that would be really beneficial for them. And if anything, ever educate them in how money works, and things like that, so yeah, they they’ve they watch with interest. They know I take them everywhere I go, they’ve been on viewings with me. I’ve been everywhere with me, you know, so they’re learning through what I’m learning? Landlords? Yes, right? Absolutely. And that first one, I had the children with me when I fought first for the viewing. And funnily enough, he had a daughter with him as well. So it was, you know, is the is all about relationships, definitely relationships. You know, I’m a family man, myself, I got four beautiful kids, you know, 1816, seven, and three. And, you know, I also feel very proud and very blessed that I’m able to show them a different way. But if they do that or not, that’s down to them, that we’re able to lead the way and we potentially Paul have the power to change generations to come. Yeah, we can be that difference that really makes the difference? Yes. And how is that possible? Be brave, be courageous, don’t take no for an answer. change the mindset work on yourself. And the reality is, these are things that people want to do. But they’re not always willing to do it. You know, you’re one of us, and you want to do it. And I always hope that people tuning into these episodes, they get some inspiration and motivation. How do you see the mentoring program with me really helping you over the next one or two years? And where do you see yourself going? Now you got four deals, their cash flowing about 750 pounds a month per deal? Nine grand a year per deal? How do you see the mentoring helping you? And obviously, where do you see yourself in the next few years? Yeah, is going to be instrumental, because I’ve got aspirations for doing more. So I definitely know. And, you know, I, as you know, I am part of your lifetime membership. Now, I’d want it to be part of that. And I know that, from what I’ve seen the mentors that you’ve introduced me to the journeys that we’ve shared together so far, I can just see that the value that you bring, to me is amazing, you know, I’m going to learn so much. And so my family, from what you tell, tell me, you know, teach me. So yeah, it’s going to be hugely, you know, things don’t stop, you keep moving, don’t you, you know, the goalposts are gonna keep moving, I’m going to be looking to better myself, you know, and that’s going to need someone that’s already doing what I’m doing. So I’m already doing what I want to do, and you guys that, you know, you know, ahead in the air, and then it’s about, you know, you got to keep evolving and the way that we mentor you now will be very different to how we mentor you. And a year from now or two years from now, we’ll have different conversations, different high level conversations and, and I really feel this is one of the reasons why people wants they’re in my world and I’m in your well, people do stay for a long, long time. Yes, we like to have a lot of fun thought about the adventure, but it’s also about getting serious sorting out this money thing once and for all, you’re able to live the life that you truly deserve. So yeah, I feel when we do another one of these in perhaps a year or two. You may be on 10 bills, or 12. Or hey, even you might 10x and beyond on 40 bills. Who knows? So I’m just going back to that deal. What type of guests do you have in that particular flat?
Well, I so I have pretty much mainly contractors and corporates and also leisure guests. So I have a mixture of those two, really, and you know, it’s a journey that I’m going on and working out how to really make, you know, make it the most viable business I possibly can depend in I’m still learning all the time. But yeah, that’s that’s the type of guests I have.
The contractor market, which is awesome. We have a few moments left. I want to talk about another deal very quickly. Yeah. Because we talked about relationships in property. Yes. And there was another deal that you secured. And how did you secure that deal? Because that was direct to vendor? Yes. Right. Yeah, but just tell us how that happened. Yes, it’s a journey. Right? Well, absolutely. Right. So that journey was when I first started with assets, something they used to drum into us is that this is all a people’s business. Yeah, you it’s not, you know, it’s not about property, it’s about people. So I always remember that. And one of the important things that you really laid out quite clear was networking is key. And so I pretty much started networking straightaway. And I, you know, I really enjoy networking. I love meeting people. And it is nervous at first. But once you get into a networking meeting, it’s very, it’s great, because you the energy that you find when you’re with people that are networking in property is amazing. We’re all thinking very similar. And it’s fantastic. So I met landlord at a networking event, and he was interested in what I do. And I understood that he had a property, and we got to know each other. Nothing happens straightaway. It was all you know, like you’d always recommended to me, it’s about building a relay relationship. So we’ve got to name we had a coffee a couple of weeks later. And from there, I, you know, I’d built on that relationship. And six months later, he’s allowed me to take his property on to manage for less than one that you’re about to take. Tonight. Yeah, yeah, that’s right. Yeah, it will just started yesterday.
Well, also. So that was a six month relationship building exercise, yes. Now, I’m just going to put this out there, most people wouldn’t have carried on that relationship, and they don’t get the deal. And this is all about the long term thinking, building relationships, making decisions today based on where you’re going to be in the future. So for anyone tuning into this, don’t be disheartened if you don’t get a know straight away, the magic is in the follow up isn’t important that 100% Not everyone’s going to want to give you their properties. But you don’t need everyone’s properties. You know, when you’re looking at 9000 pounds per year per property, you get 10 of these under your belt, you’re up at 90,000 pounds a year, that’s almost three times the UK average salary. And you never have to worry about money ever again, you know that that is the power of this strategy. And that is why I urge everyone to at least have a base of five or six high cash flowing properties in their portfolio, and then decide what you want to do. Would you recommend my advanced training and mentorship to other people? And if so, why would you do that?
Education is probably absolutely key. And being part of the mentorship group is 100% fundamental of everything that I’ve managed to achieve. Without that I wouldn’t have been able to join the dots. Or we just wouldn’t have been, I could have watched lots of different videos. I could have watched some podcasts. But I’m sure I would never have been able to put the dot and I speak to people all the time that doing that. And they don’t really go anywhere. They don’t actually because they haven’t got they don’t have anyone holding you accountable like you do me. They don’t actually have someone that it helps me when I’m down. So did that help you, you know, you need that structure to be able to move forward. And I would definitely advise people to join your mentorship program. Because of that, you know what? You’re a fantastic graduate. You’re a good friend. We’ve had an amazing 18 months together. Really, really looking forward to our inner circle day. Next month first one of the Yes, I think we’re going to go bowling as well. And then obviously, we’ve got the retreat taking place, I think May or June is your particular week. So that’s going to be a whole different experience for you to really take it to the next level. So a massive congrats, honestly, thank you for putting in the work and what an incredible individual you know, values are aligned. Didn’t overthink here literally came in blank piece of paper. He just said 18 months ago, Liam mentor me and show me everything that I need to do. And me and my world class team. We have just taken Paul behind the scenes, we’ve held his hand through the process. And he’s now got a fantastic high cash flowing property for property bills. And I’m hoping from that session that you can take a lot of inspiration and motivation yourself. This is possible for you to it doesn’t matter who you are or where you’re from or what your current situation is. But you need to show up. You got to do the work. You got to get comfortable being uncomfortable. And what is on the other side is a world of possibilities. A world of opportunity where you can literally do what you want when you want with who you want. Hey, my name is Liam Jay Ryan, the host of the dealmaker podcast. I love property business entrepreneurship, and I look forward to seeing you in one of my next sessions.
You’re listening to the dealmaker podcast, hosted by multimillionaire property investor, entrepreneur and Guinness World Record holder Liam Ryan, discover how to start scale and grow your business become a better negotiator create more opportunity and make massive profit so you can live the life of your dreams.
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