Page 8 The Property Tycoons Newsletter   How To Buy 150 Properties In 2 Years   Parmdeep: That happened to me.  Well, a good book that I’ve been reading that you must read even if you don’t like reading you got to read this book, The 4-Hour Workweek by a guy called Timothy Ferriss.  It’s an absolute must-read for any entrepreneur…I think the phase that you are at your business, I think it will fit perfectly.  It changed my business life because I was at a point with lots of stuff going on and you just kind of get overwhelmed.  Like yourself, putting the right people in but then you kind of think back and realize, “What’s it all for?”  I’ve just started removing bits of the business that have been giving us hassle but aren’t really contributing much to our goals.  So, we just got rid of them. Dave: How much time are you able to find to read, Deep, because I know you do read a lot? Parmdeep: Everyday, I try and read an hour, that’s my goal.  I probably read on average about half an hour.  I would say 10 minutes loo, when I’m in the loo I read.  The other time I have about 15 minutes is when I go to the train station to pick up my wife.  So, I’ll get there a little bit early and just read my book.  The rest, I’ll just grab from wherever I can really…  Especially during dead time, I’ll always grab my book and a notepad.  I have a DVD full of MP3s. I bought this Mercedes car for example.  That’s the only reason why I bought that car.  I said, “Wow, it’s got an MP3 player, I can play my motivational audios”  That’s great because I’ve been driving along just listening to this motivational stuff. What I found is even though you’re listening to it, it’s not quite sinking in until…you don’t feel it until later on or three days later when something comes up and you remember a piece of advice in there.  There was one piece of advice that, for example - the guy said don’t wish for less problems, wish for more skills.  It was just today, actually.  I had one of those feelings…you know those days when your head is just pounding? Dave: Yes. Parmdeep: Then it’s just all going through your head and everything I just thought this is crazy.  I remembered that quote and I’ve changed it slightly. The goal that I wrote in there is don’t wish for less problems, wish for more skills and systems.  I added a little bit more about people as well.  So, the problems aren’t the problem because the problems are always going to be there.  It’s whether you have the skills, the systems and the people to deal with them. Dave: It’s a mindset. Sometimes I get up in the morning, I can’t wait to get in and sort these problems out.  Then sometimes it could be just the next day.  I’ve got a lot on my mind here.  I think that’s what you do well with those things.  I think a lot of people including me, I do half things, I read half a book.  I’ve only ever read half of each of the Rich Dad, Poor Dad thing before, thinking I know it all and that’s it.  I’m off now.  It’s always good to go back and review these things and that’s something that, for people listening, that’s something that you do particularly well.  I do half hearted attention on those things. Parmdeep: You should learn to skim, speed read.  When you just skim books… Dave: Yes. Parmdeep: …rather than going from the start to the middle, go from start to the end but not quite so deep.  So, you covered all the major bits… What’ll happen is you’ll pick out certain things in there that you’ll read further but the rest is stuff you dump.  Parmdeep: I had that problem where I had a magazine or something, I’ll read every single damn word in it.  Then after, you just think I wasted half an hour on that.  It’s not that difficult to just pick the good bits out, pick the two things that you actually want to read, rip that out, throw the rest of it away and then just keep that. Dave: Exactly. Parmdeep: Otherwise, it’s very easy, it’s just a waste of time.  Okay.  Can I ask you a couple of more questions? Dave: Go for it, Deep. Parmdeep: These are two questions that I get asked the most.  I’m sure you have heard them before as well.  But just to ask your opinion on them, the first question is what would you say is for you the best way of finding good properties?  The second one is what would you say is the best way to finance them? Dave: This might be different to people who are national.  But for me, scaling up locally and economy is scaled locally, it’s just been shelling lots of money on advertising.  So, local advertising and here’s a bit of a trick of the trade - we have a different telephone number in almost every paper to find out which one works best for us.  Focus on those areas that work well and swamp them with leaflets as well.  It’s kind of using that model. We’ve just been spending a lot of money on newspaper advertising really, locally.  I think we’ll be doing things a lot differently when we start to broaden our horizons.  But that’s the way it’s worked for me.  In terms of financing deals I get investors interested in sourcing good deals.  But then finding ways, finding which lenders you can do certain things with.  I’ve mentioned on the forum (www.tycoons-forum.com) we basically pull out 85 or 90% on every deal by buying and re-mortgaging with cash and doing it that way.  We do that with instant flips and from exchanging with limited companies, and buying ourselves.  And through having some creative solicitors, etc. Continued on page 9...     1   2   3   4   5   6   7   8   9   10   11   12   13   14   15   16