I must confess :)   I can’t believe how time has flown, it’s March, people, March! That means almost a third of the year has gone already! I was speaking with my mentor, Alan, the other day about feeling the “pressure” of so many opportunities and not having time enough to really pay attention to everything. I think on an unconscious level that set me thinking and as usual my unconscious provided the answer ….….pick what you want to achieve and acknowledge that you will have to let some opportunities wait. I also realised (in the shower – where I get so many great ideas :) ) while we talk about the importance of work-life balance – I also needed to look at my work-work balance. As you may know I have a number of businesses all designed to generate passive income over the short, medium and longterm. Short term cashflow comes from the sourcing business and mentoring clients, my medium term cashflow comes through my property rental – its not truely passive yet as I am still growing the portfolio to my target volume for retirement, however it certainly generates enough that I do not have to work if I didn’t want to, lastly is my MLM business – Utility Warehouse – which provides not only cheaper bills at home but also leverages my time and network contacts to build a team which will create amazing longterm passive income.

Ok so if the conversation is about work-work balance what’s wrong? During the first six weeks of the year I have been invited to speak in front of over 620 people, which has been both amazing and humbling experience. Most of the talks have been about what I have achieved and how I achieved it. A lot of emphasis has been on the sourcing business. You know they say what you think about – you get. This attracted lots of sourcing clients – which is brilliant. In January I sourced one property to completion (and bought 3 for myself) and now in February/March I am in the process of sourcing three more deals (and buying two for myself). I also need a property in Manchester M25 (2 bed) for a tenant, a 3-4 bed property in Ealing for a sourcing client, and 4 properties for a company that needs some HMO / Multi-let redevelopments. So what was wrong?

The balance had shifted towards finding properties that meet client needs, and necessarily properties for me to buy, I had stopped looking for creative ways to buys more properties …. I had forgotten my main focus which is to buy cashflowing properties to add to my portfolio. I had in fact become seduced by the quick money of sourcing and lost sight of the medium and long term benefits of owning property!

Time to refocus :) having said that I am working with a new partner on an exciting development opportunity that would turn 4 dreadful flats back into one high spec two bed house with mezzanine floor open to a vaulted ceiling and then two one-bed professional flats. Very exciting and mentally excercising :)

I will blog more often … I have more work-work balance now, I am focused on the main goal – its back in sight :)

To our mutual success, wealth and happiness
Vicki – The Property Mermaid

 

1. Ways to Wealth – Make Money from Property – http://www.waystowealth.co.uk/wtw-events/

2. Reading and resources – http://Bit.ly/OPM

3. Where you can find me next    http://thepropertymermaid.com/blog/events

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