With the incredible news that 15% of all internet traffic globally is now attributed to social media, we have decided to broaden the scope of our property networking event this Sunday (15th March) to cover this amazing phenomenon that did not even exist three years ago.
Barack Obama was one of the first high profile people to harness the power of social media, and it helped him into the White House! On that basis, what could it do for you and your (property) business?
Nick will be giving an informal presentation on why normal methods of marketing are quickly becoming defunct, and why social media is a key strategy in spreading your message. He will be talking about blogging, micro blogging, creating contacts and turning them into a network, farming data, and using web tools to do this. Nick will be explaining in simple terms how you can use social media to create on-line visibility, awareness, and trust and a long "tail" of content that in effect establishes your personal brand on-line. We are now in the age of Google and Google never forgets, so you have an opportunity to start now to harness the power of social media to your benefit.
If you are new to the idea of social media, Nick's talk will make the perfect introduction for you to start thinking how you might utilise it.
We also have Paul Henley of Acorn Property Surveyors as our special guest to answer any questions you may have about how valuers are valuing property in the current challenging marketing conditions. He will also be giving his views on the future of the U.K. property market.
Our networking event is very different to most other property networking events. We run it like a "melting pot", with everyone contributing opinions, asking questions, putting up a problem to be solved, or putting forward a discussion topic. Some of the issues we have covered in the past include current financing and mortgage products, trends in the U.K. market, how people are addressing change in their property business, multi-lets, holiday lets, HMO's and much more.
We have built the reputation of our event on a non-sales agenda and we endeavour to always give real and authentic value to make it worth your while giving up part of your Sunday!
This is genuine 100% networking and people have time to network properly, as well as contributing to the forum format.
So you have nothing to lose and quite a bit to gain, especially as it is free to attend.
Date: Sunday 15th March 2009 Venue: Holiday Inn, Egerton Road, Guildford Time: 10.30 to 14.30. Please arrive any time after 10.00 a.m. for registration and early bird networking.
When it comes to generating cash-flow, U.K. holiday lets are definitely a strategy worth considering in the current economic climate:
* Renaissance of great British seaside holiday thanks to magazines like "Coast" and TV programmes like "Coast", "A Place By the Sea", and "Seaside Rescue".
* Credit crunch turning people's thoughts to holiday-ing at home.
* Strength of the Euro making Euro zone expensive.
* Regeneration of seaside resorts creating a better holiday experience
Join us on Saturday 7th March for champagne and canapés and learn why White Sand is a fantastic investment opportunity. Guest speaker, Nick Tadd, from 4wallsandaceiling.com will be holding presentations at 11am and 3pm. Nick will show you how you can get the best out of your holiday rental property, using his own holiday let "SeaBreeze" as a case study. As well as explaining how to research a holiday let with year round appeal, Nick will also be discussing marketing strategies to help you get the best possible occupancy levels.
Free flooring and integrated appliances with any reservation when you present your invitation and there will be 5% off any furniture packs purchased over £5,000 from David Phillips.
Limited places available - call now to book your place.
Phone: Hannah Marsh, Event Organiser on 01959 568406
I'm going, get your tickets and I'll see you there ...
Seth’s coming to London...Next Week !
We thought you might have a few questions to ask about next weeks event. Hopefully we've answered them here !
What time does the venue open ?
12:30 Foyer - ( Not Before )To get you out of the cold. Brrr !
13:00 Auditorium- To get your seat !
Remind me what time The London Session Starts.
13:30 sharp ! It finishes at 16:30 on the dot.
I've forgotten where the venue is.
It's the Church House Conference Centre, Deans Yard, Westminster, London SW1P 3NZ . Their website with lots of directions is HERE.
HINT : Deans Yard is accessed via a small archway with a security cabin and a gate. This is located on Victoria St. When looking at the archway Westminster Abbey should be on your left !
Go through the archway into Dean's Yard and head towards the large building facing you at the end of the yard - this is Church House.
What's the nearest Tube ?
Westminster or St James Park ( District, Circle and Jubilee Lines )
I want to meet other people who are going to the event.
There is a Facebook group called Seth Godin - The London Session - There is a Linkein Group - Seth Godin Triiibes.com - There is a Twitter hash code - #Sethldn ( That lot should keep you busy till Tuesday ! )
The Evil Genius Media + Events team didn't answer my question here.
Then either send us an e mail by clicking on the link below or if it's too late for that then call the event organiser - Mark Muggeridge on 07792 66 11 36.
I was tinkering on the computer last night, when, thanks to the joys of Facebook, an old friend from the music industry, who I hadn’t spoken to for ages, popped up on the instant messaging asking how I was doing.
It was great to catch up with her after so long, but it quickly became apparent that her life had changed dramatically. She told me that she had recently taken voluntary redundancy from her long-term job in the record industry. Her partner was also about to be made redundant from the computer games industry.
Far from being depressed, my friend saw this as a wonderful opportunity to welcome this change with open arms, and to challenge herself and reinvent herself. “I’m finally writing that novel that I’ve had trapped inside me all these years” she told me. I can see the smile on her face as she wrote that.
It takes a lot of courage to let go of the familiar and seemingly secure, to embrace the new. But there is no real security in what is no longer relevant. There is more security in the adventurous and exciting, and, in embracing change, there is tremendous power.
When you have real passion for something, and your drive to learn is ignited, there is no limit to what you can achieve either on a personal level or in business.
Your creativity sparks.
Attending various networking events and via Ecademy, we are constantly meeting corporate refugees who are struggling to come to terms with this grave new world.
It seems people, society, technology, economies, business and even the weather are all changing rapidly making these exciting times! If you can embrace these changes and implement them, anything is possible.
As Eric Hoffer once said,“In times of change, learners inherit the Earth, while the learned find themselves beautifully equipped to deal with a world that no longer exists”.
When it comes to dealing with change, unleashing your creativity is one of your greatest weapons, but it has to have a receptive audience.
If everyone around you is sure the economy is failing, that the end is near, that time is up and the country is headed for the tubes, it's almost impossible to find a way forwards.
Creativity changes the game, whatever game is being played. "We're going to run out of cash by the end of the year," is accurate unless you count creativity into the equation. Then the accurate statement is, "Under the current rules and assumptions, we're going to run out of cash..." Big difference.
In describing today's accelerating changes, the media fire blips of unrelated information at us. Experts bury us under mountains of narrowly specialized and often contradictory statistics. Popular forecasters present lists of unrelated trends, without any model to show us their interconnections or the forces likely to reverse them. As a result, change itself comes to be seen as anarchic, even lunatic, something to be frightened of. Like the “rabbit in the headlights” mechanism, people freeze in fear and do nothing.
In these challenging times, change is inevitable, growth is optional.
Hence the importance of networking to get the truth. Connect with the people at the forefront of change in your industry or arena. Learn from them.
You might think “now is not a good time to get involved in property” until you count creativity into the equation and change your strategies accordingly.
Creativity demands exposure to market needs, and insulation from market fears. Give it some time to work, some support, some breathing room. That's when creativity has a chance to change the game.
As it is the 200th birthday of Charles Darwin, it seems appropriate to end with one of his famous and enduring quotations:
“It is not the strongest of the species that survives, nor the most intelligent, but the one most responsive to change”.
Are you going to be a dinosaur in this grave new world, or are you going to adapt and evolve to survive?
Register here for this weekends networking event ...
We went to an ecademy event in London last Thursday, and got massive value from it, so thought I would write a brief report*.
*Please note, I have no affiliate links or commission payments for new members to ecademy - its free to join anyway. I am just sharing in the spirit of reciprocity.
There were approx. 200 business owners there. The mood was very bouyant and positive with everyone I spoke to. The general opinion was that "this is what we have been waiting for" in terms of opportunity. WIth looming mass unemployment and the demise of those with a "serf" mentality (seeking a pay cheque at the end of each month), now is the time for small businesses and entrepreneurs to flourish.
Ecademy founder, Penny Power, gave a very inspiring speech about how business is changing, and moving on-line. She talked about how businesses and individuals will be judged in future on their "contribution currency" - in other words, how much value they add to other people's businesses, and their track record of doing so. The internet is making everything far more transparent.
On one hand, black hat tactics, scams, deceit and misdirection are far easier than ever to imagine and to scale. There are certainly people quietly banking millions as they lie and cheat their way forwards.
On the other hand, there's far bigger growth associated with transparency. When your Facebook profile shows years of real connections and outreach and help for your friends, it's a lot more likely you'll get that great job.
When your customer service policies delight rather than enrage, word of mouth more than pays your costs. When past investors blog about how successful and ethical you were, it's a lot easier to attract new investors.
The Net enlarges the public sphere and shrinks the private one. And black hats require the private sphere to exist and thrive. More light = more success for the ethical players.
In a competitive world, then, one with increasing light, the way to win is not to shave more corners or hide more behavior, because you're going against the grain, fighting the tide of increasing light. In fact, the opposite is true. Individuals and organizations that can compete on generosity and fairness repeatedly defeat those that only do it grudgingly.
Business networking can help increase your on-line profile and visibility, and therefore create trust.
It costs you nothing more than your time.
People can write testimonials for your services and you can start to build up an on-line profile of being an ethical trader. I believe that this is something that will become increasingly important in the years to come, so it is something you might like to consider, if you are not already doing it.
'The main speaker was Nigel Risner who gave an inspiring talk about setting goals and sticking to them. I really enjoyed his presentation - no "ra ra" - just really strong and challenging ideas of how to challenge yourself and your business on a daily basis. One of the most powerful things I got from this is something that we have been doing since the beginning of our portfolio but never (until now) put it into words. And that’s understanding the importance of routine. I have rattled on in the past about how important management is over acquisition but this gave it a more permanent title ... Routine.
Buying property takes but a few weeks. However, pre and post acquisition is the routine that can last for 25 years!. But routine is dull and to keep it from being tedious is where you can bank "contribution currency". I thoroughly enjoy contributing to "the pot" and in return I get to learn more and make solid and deeper business clients and relationships.
In conclusion, I found this meeting gave me a real kick start to 2009 and I met several positive and dynamic people who will contribute to my knowledge and success.
Just
a polite reminder that the 4 Walls property investment networking event
is taking place this Sunday, 23rd November at the Holiday Inn, Egerton
Road, Guildford from 10.30 to 14.00.
The
format is informal and fun and it is free to attend. There is ample
free parking at the hotel. Come and expand your knowledge and refresh
your enthusiasm for the property cause by meeting with other
like-minded people.
To
get a better idea of the benefits of networking and how to get the most
from networking situations, have a look
We’ve
also just launched the new all-singing, all-dancing, information-packed
4Walls TV website. You can be one of the first to explore it, and
contribute to our new4Walls
Interactive Forum!Just go towww.4wallsandaceiling.comand enjoy!
Our
investment strategy is one of low risk. We minimise our financial
input into deals (wherever possible) only purchasing property (houses,
not flats) with positive cash flow from the rent. If you adopt this
business-like strategy, you can make money in any market, and survive
even the toughest market conditions.
It's been a busy couple of weeks in the fast moving world of property,
that's for sure. With the Bank of England base rate and LIBOR rate
coming down, this is a positive sign that things are improving within
the financial markets, and that liquidity - which oils the wheels of
this particular market - is returning. It gives a strong indication of
which way rates are moving. There's still a long way to go though and
still a great deal of uncertainty. When it comes to Property 2.0, only
those who adapt their strategies to reflect this brave new world will
survive.
Bank of England Base Rate 3%
LIBOR rate 4.37% (as at 12/11/08)
Despite all this, we're still feeling very up-beat about property as an
investment, and our property business. We've been very busy putting the
finishing touches to our new website, 4 Walls TV. We've designed the
website to be completely compatible with Web 2.0 and to embrace new
technologies and processes. We've really had our minds blown by the
possibilities!
On that note, we've received a lot of emails from people asking us
exactly what Web 2.0 is, as it is a relatively new way of thinking on
how to interact with the web, both in terms of business and social
enterprises. Therefore, in this video broadcast, Nick explains why you
NEED to know about Web 2.0 and how the power of it can enhance your
(property) business.
If you have found this thought-provoking, please be under no illusion -
we have only scratched the surface in this video broadcast. There is so
much more you need to know to fully understand the benefits,
possibilities, and potential of Web 2.0.
The next 4wallsandaceiling.com property investment networking event will be taking place on Sunday 23rd November at the Holiday Inn, Egerton Road, Guildford from 10.30 to 14.00.
The theme of the event will be "Harnessing the Power of Web 2.0 to enhance your property business".
At a recent event, we did a presentation on this subject. One of our delegates, Nina Griffiths wrote afterwards:
"I feel like I have had my head buried in the sand, to pull it out and find someone shining a 2000 volt light in my eyes".
That is how people react when they understand the power of Web 2.0.
If you want to be a player in business in the years to come, we believe
that you need to start now, building on-line visibility, awareness, and
trust. Web 2.0 is all about transparency, trust, and reciprocity. That
is why it is vital to establish your brand, your reputation, and your
core values on-line NOW . You can do this by adding value, becoming an
"expert", offering professional opinion, and by being recommended by
others within your business and social communities! You can also align
yourself with like-minded people and businesses who share your values,
business philosophies and ethics.
An added benefit and by-product is that content generated by users of
social media now ranks highly in search engines, because it is
RELEVANT, because it has VALUE, because it is TIMELY, because it is
REAL.
For marketeers - SEO is dead! We'll be elaborating on that in a future broadcast.
Web 2.0 is like dropping a pebble in a pond. Business may not occur at
the point of entry, but as your "input" ripples outwards into
cyberspace. It takes a dramatic shift in thinking to fully understand
this. People like you, they want to get to know you, they "follow" you.
Maybe what we say resonates with you? There is no substitute for
off-line interaction, so come and chat to us and other property
investors at our next networking event.
We will be discussing Web 2.0 at our event on Sunday 23rd November, along with general property networking.
It's been a couple of weeks since my last broadcast, and things are
changing so rapidly in the fast moving world of property investment at
the moment, that we have to up-date our website on an almost daily
basis!
Petrol prices coming down ... food prices coming down .... interest
rates coming down (4.5% at the time of writing and will almost
certainly drop further) ... so there are some tiny pinpricks of light
at the end of a very long dark tunnel. But we still have a long way to
go, here in the U.K., make no mistake. Stay tuned to www.4wallsandaceiling.com for all the latest news.
As you have no doubt realised, the world is entering a new era of
property investing which means that those that want to survive these
challenging times need to adapt their strategies to reflect the reality
of what is happening i.e. prices falling, lack of financial products,
lack of creative deal structuring etc. The old ways of investing in property are now defunct. At 4 Walls, we call this "Property 2.0" and it is the subject of today's broadcast.
When it comes to purchasing property, one of the fundamental issues
that you need to be clear about is the "intrinsic value" of the
property i.e. how much is it really worth? There is much talk in
property, particularly in respect of NMD and BMV purchasing, of how to
determine Open Market Value in the current market conditions. The
reality is that it is almost unquantifiable and things are changing all
the time. The latest RICS Housing Market Survey shows both a renewed
deterioration in the net price balance and a further drop in the level
of transactions.
So we would like to put forward the idea that the new way of
determining market value (from an investor's point of view) is quite
simply that the property is only worth whatever level of borrowing the
achievable rent will support!
This in turn depends on mortgage product interest rates and rental stresses.
If a property pays its way with some net positive cash flow, then that
will tell you if it is a good deal and you have paid a reasonable
price. You need massive discounts to get anything to stack with present
mortgage products. However, if you are being paid by the property every
month, you won't be too concerned about house prices going up, down, or
staying stagnant! Following this strategy is a far more business-like
approach than hoping for a "get rich quick" pay-out from equity
release. We all need to face up to the fact that there is not going to
be any capital growth in the U.K. anytime soon and prices are probably
going to drop further, before stabilising.
To explain this business model using the metaphor of an employee: if
you had an employee on a salary of £30k but they brought in £40K net of
new business, would you mind? No.
If you had an employee who was on salary was £100K, but they brought in
£140K net in new business per annum, would you mind? No.
It's all just numbers, and thankfully numbers never lie.
Accurate rental comparables are now more important than OMV's in our humble opinion.
When mortgage products become more favourable, you will be sitting even more pretty.
We use a simple calculation to work out what borrowing the achievable rent will support. It goes like this:
Monthly rent x 12 divided by (product interest rate) divided by (product rental stress).
If your property has positive net cash flow from the rent, then it is a
valid business proposition! In other words, if it funds its own
mortgage and "running" costs, and pays you a few £££££'s above and
beyond that, it is a viable deal. It's as simple as that.
You also need to put this in the context that the maximum LTV is now
75%, meaning that you are going to need to put in 25% deposits for the
time being. In reality, this makes it easier to stack deals and achieve
positive net cash flow.
Coming soon: 4walls TV.
As you know from our blogs, we have been spending a lot of time over in
Cyprus of late, as we see far more opportunity over there in property
than we do here at present. Cyprus is a wealthy island, the banks there
never got involved in sub-prime lending, and lenders are cash rich. The
economy and population is growing and it is the No. 1 tax haven in
Europe! A very attractive package all round which will fuel business
and investment.
According to the London Chambers of Commerce (who contacted us last
week), Cyprus is the most popular re-location destination for
businesses seeking a haven from the credit crunch! This year they have
had 135,000 enquiries from individuals and businesses interested in
relocating there! That tells us at 4 Walls that there is going to be a
healthy demand for rental property in Cyprus in the future, in
particular the Larnaca area, which is the international portal to the
island, and its main business hub.
If you cannot make property investing work in the U.K., then it makes
sense to look outside the U.K. Entry level deposits start from £6K in
the Larnaca area of Cyprus for a one bed apartment which is
significantly more affordable than anything you can find here in the
U.K. Plus you have positive cash flow from holiday lets and a growing
economy that will keep capital growth stable for the future.
While in Cyprus recently, we caught up with millionaire investor and
international tax planning expert Jarl Moe to find out why he invests
heavily in Cypriot property:
So all of the above is actually good news, but only for those investors
who recognise that they need to change their strategy to reflect the
current market conditions and limited availability of reasonable
mortgage products. In the future, successful property investors will be
those who adopt a business-like approach, build their portfolios on
positive cash flow, recognise the value of education and networking,
diversify their investments to minimise risk, and take a mid to long
term view both here and abroad.
Welcome to Property 2.0!
Finally, we were interviewed on Love Property Radio last week. You can listen to our interview at www.loveproperty.org or on iTunes.
We currently have some Property 2.0-style cash-flow positive deals
available in Poole, Dorset, Basingstoke, Hants, and in Larnaca, Cyprus.
These hand-picked, limited, highly discounted deals are ones that we
are investing in ourselves. We focus on quality houses in up-market
areas as we believe these to be more recession-proof than cheaper areas
of the U.K. If you would like further details, please get in touch.
To your continued success!
Kind regards,
Nick
Remember - you can never learn less!
P.s I have a very trustworthy collegue in ecademy that is running a
seminar on how to build relationships with accountants, well worth the
consideration - click here -
Greetings from sunny Cyprus… no intention
to rub it in!
OK so where do we start, it would seem that
whilst I have been here in Cyprus that the world has fallen apart (well that’s
what the newspapers would have you believe).
Personally I think it’s a good thing, don’t
get me wrong it’s a pain right now but when we get through all the turmoil the
world will be a better place.
In my opinion the word recession is an
anagram of “I can’t do what I was used to doing, therefore, I will be upset”.
Recessions will only affect people that cannot see through them. It’s a bit
like being 13 years old and getting “dumped” by your girl/boyfriend, at first
your all forlorn and upset, then after a while you re-adjust and get on with
life… the problem seems to disappear.
This “globalization” malarkey, lets talk
about that. It would appear that it has been a problem. One country (US) causes
a problem with sub-prime mortgages (What a farce that was, how can a lender
lend money to someone who already admits that they will not pay them back!) and
then the rest of the world suffers because they were sold “bad debt” in
packages thus leading to the problem we all now face.
Some people and/or companies are having a
great time at the moment and are “steaming” through “The Dip”. Take Tupperware
for example, their shares are up by 40% this is a direct consequence of the
financial mess the world is in… people are taking their lunch to work with them
as opposed to “going down the shop”.
Quick announcement: - we have got a small
get together this weekend at the Holiday Inn in Guildford. It’s going to be a
small affair; I would like to invite you to come along.
As you know I seem to be spending a lot of
time in Cyprus at the moment, there are a number of reasons for this.
Firstly, I have houses and Flats out here,
which need attention.
Secondly, Tax… we’ll leave it at that.
Lastly and I think this is a very
compelling reason, there is so much more opportunity here (CYP) than there
(UK).
I was reading a book the other day and it
told me some very powerful stuff. The western world, as we know it, does not
need anything (in commercial terms) we have everything we could possibly need…
I don’t need a new mobile phone I want one, I don’t need a new pair of shoes I
want them, I don’t need a new outfit I want it… the western world does not need
anything, it just wants it. Now there is nothing wrong with this, if we did not
want for anything then there would be no commerce and commerce as we all know
drives the economy.
However, Cyprus is still in the “need” area
not the “want” area and for a country that is at the start of it’s growth cycle
that is powerful… hence opportunity.
For example: - The internet here (CYP) is
still viewed as a toy, much like it was in the UK 10 years ago. We in the UK,
whether we like it or not, rely on the Internet, over here they don’t know they
need it… it’s still in it’s infancy much like commerce in general.
Remember Cyprus, as a PLC is not in debt,
has cash reserves and a rosy future with the oil, double tax treaty with the UK
etc (the double tax treaty brings in foreign money and business). It will never
be a global power it’s too small for that, however, much like the Tupperware
analogy I see opportunity in the global chaos.
So we have a country that is at the start of it's growth cycle, it's got no debt, it has money and it needs stuff.
Can you see where I'm going with this...?
Ok well I could harp on but seeing as
though we’re having a get together this weekend I’ll leave my ramblings until
then.
Stay positive and keep smiling.
Nick
P.S With ref the water shortage over here
in Cyprus. Yes it is a problem, but do you really think they are going to sit
around and not do anything?!?!
What a wonderful weekend! Not only was the weather fine but we spent it down in our holiday home in Portland (Dorset). The beautiful weather really brought it home to us that England has much to offer the holiday maker, and, as the current trend is to holiday at home, the U.K. is no doubt going to see a renaissance in the great British seaside holiday! For the best part of nine months now, we've been advocating holiday lets for cash flow, but make sure that you choose somewhere with year round appeal.
Chesil Beach is part of the Jurassic Coast World Heritage site stretching 18
miles along the south coast of Dorset, England from the 'Isle' of
Portland in the east to Lyme Regis in the west. Fishermen familiar with
the beach claim to be able to tell their location from pebble size
alone.
Although we do not actually let our Portland house out as a holiday let, there are many signs that it could be a good area to buy in. Portland itself is a stunning and unique island, and has so much more to offer than Portland Bill Lighthouse and Chesil beach, which it is mostly known for. There are many beautiful coastal walks, birdwatching, horse-riding, not to mention all the water-sports you can do in the area. Portland Harbour itself is brilliant for windsurfing and kite-surfing with its shallow and calm water.
Portland is slowly but surely shaking off its naval past and gearing itself up as a top flight holiday destination. The new and glamourous Portland Hotel and Spa is raising the accommodation bar, and new restaurants, cafes and bars are springing up all over the island to cater to many different tastes. Being an island also means that land supply is limited. Many areas of the island have been designated areas of scientific interest, which will further restrict building in the future.
With Portland and Weymouth now gearing up to hold the 2012 Olympic Sailing Event, the only way is up for this "best kept secret" little isle.
Furthermore, this weekend it was announced that Weymouth has been awarded a £6m regeneration grant to give the town a face-lift and build a new relief road, again all in preparation for the Olympics. So, if you are interested in a holiday home or let with a lot of potential, this could be a good area to look in!
Vanessa, my wife, was quoted in the "Sunday Times" this weekend on buying a second home on the coast.
Click here to read what she had to say in the "Sunday Times".
Finally, a preliminary annoucement about our next networking event:
Easy Sunday:
Coffee, Property Chat, and Networking with Vanessa and Nick at the Holiday Inn, Guildford, Sunday 19th October from 10.30 to 13.30
Due to spending most of the month of October in Cyprus, we have decided to make our October networking event a bit more informal. Our usual monthly networking events tend to be more structured and formal with educational presentations and guest speakers, along with networking breaks.
However, October’s event will be a bit different. Just drop by and join us at the Holiday Inn, Guildford anytime between 10.30 and 13.30 on Sunday 19th October for coffee, property chat, and networking!
This is a FREE event.
All we ask is that you register with us at registration@4wallsandaceiling.com to give us an idea of numbers so that we can make arrangements accordingly.
Everyone who registers will receive a free copy of our Top Investor Tips e-book.
Maybe you are just starting out in property and would like some questions answered, or maybe you have a problem that needs solving? Whatever you would like to discuss about property, come along to the event, chew the cud, and get some input or answers.
