Kevin McDonnell My personal plan for 2020

2020 is going to be a huge year in property? But are you prepared? and what are your plans? In today’s episode of The Progressive Property Podcast, Kevin McDonnell shares his guidelines for a bumper year in property. Discover how to scale your business, find new joint-venture partners and make a fortune through property in 2020.   KEY TAKEAWAYS  What’s your plan? What's your property plan? Where are you going with your business this year?  When you have the best year businesswise, you should know that you also had a bad year because great achievements come with great challenges. As you plan on how to be successful in your business, you should also prepare and be ready for any challenge that will come your way.  Challenges like staffing should be dealt with when they arise because these are the people that you need to trust with your business that they will do their best to keep your business up and running and also profitable. You can’t do that while you are having this issue; make some staffing changes to suit you and your business if you want to scale up your business in 2020.  In the year 2020, make an effort of having a joint venture partner because there's plenty of opportunities that arise when you are in a joint venture with someone and there are lots of benefits that you get to enjoy such as, in case any risk occurs in your business, you are both liable, in case of a loss, you both share the losses, you get to make well-informed decisions in your business because you get to consult your partner and many others.  When you have more money in your bank account, don't let the money stays in the bank because you will not earn anything while it's still in the bank, take a step of lending it to other investors so that they can also do some more investments with it and you get a return on your money in terms of interests. With this, your year 2020 will be a year of more success.  The last crash was what 2006, 2007, 2008, we're at 12 years into the property cycle now, there is likely going to be another crash in the next decade, in the 2020s at some point, there's likely to be a crash. You got to be prepared for that crash and ready for the crash. Don’t be mistaken, it's coming. It's about being ready for when it does come.  Scaling the rent to rent business should be a big part of your plan in 2020 so you can build cash flow to get ready and cash-rich for when the next crash comes because letting agents are struggling at the moment a lot across the country   In 2020, buy, refurbish, refinance or lease option, refurbish refinance or taking control of other people's properties, refurbishing them, refinancing them. Good opportunity to build, rent rental value that cash flow, but the lease option and the buy to refurbish refinance, that's about the long term legacy, the long term wealth.  You should have your businesses this year and be sure that your businesses are profitable and self-funding because you do not want to have a business where instead of it giving you money, you are the one who is getting into your pocket and getting it the money. Make sure that all your businesses are profitable.  How do you raise 5 million pounds in property? The key part of raising 5 million pounds is you need to be known, people need to know you exist, people need to know you do property.  In your plan, apart from just finding houses, you've got to have a plan of how you are going to attract and meet more people. What networking events are you attending? How often are you posting on social media? How many people are you contacting and speaking to every week? By doing this, you’ll attract more opportunities.  BEST MOMENTS  “If you don't ask you don't get.”  “There's going to be a lot of opportunities out there with Brexit, the uncertainty in the marketplace comes with a massive opportunity.”  “For your business to succeed, people need to know you exist.”  “There's no point in working hard and not getting to enjoy the fruits of your labour.”  “Make sure you find time for doing the things that you want to do in your life because you don’t know how long you got.”  “What’s the business and the money for, it’s for you and for the things that mean the most to you.”  VALUABLE RESOURCES  http://progressiveproperty.co.uk/   ABOUT THE HOST  Kevin McDonnell is a Speaker, Author, Mentor and Professional Property Investor. He is an expert when it comes to creative property investment strategies. His book No Money Down: Property Invest talks about how to control and cash flow other people’s property to create financial freedom.   CONTACT METHOD  https://www.facebook.com/kevinMcDonnellProperty/  https://kevinmcdonnell.co.uk/   http://progressiveproperty.co.uk/   progressive, property, investing, rent, housing, buy to lets, serviced accomodation, block, auction, home, financial freedom, recurring income, tax, mortgage, assets: http://progressiveproperty.co.uk/