Nothing New

Nothing New

Time and again people keep churning out the same information giving it a new title and making out it’s the best thing since sliced bread. Rent to rent seems to be the buzz words at the moment. It’s no big deal really we were doing it with our social housing business ages ago. It basically relates around you renting somewhere at a long term fixed rent and then renting it on to others for a higher rent. Some landlords like to cram their tenants into buildings to seek out every penny a property could be worth but do you need the extra hassle? Obviously there is more money to compensate. My philosophy however is, I wouldn’t like anyone to live somewhere I wouldn’t want to live myself. Perhaps not the best thinking necessarily but I’ve never been one for following the norm.

A joint venture partner and I are taking on a property in Halifax which looks like it might be a super long term letting opportunity. We have a contact in that area that we trust to manage it and the deal was so inviting that we simply couldn’t refuse. Another partner and I have pulled out of one of the Somerset deals when the reality wasn’t as clear as the picture that had been painted. There’s no substitute for due diligence and if it takes a day, a week or a month that’s better than rushing into the wrong deal. We’re now looking at two properties that might suit her particular requirements in very different locations. For some people the location is the most important part of the deal for others it’s the maths that determines the purchase and still others want a particular type of property anywhere. Working one to one with people is interesting even though the leg work is far more involved.

Finding the win /win situation for everyone can be a big task that really needs some careful thought and consideration. Often honesty is clouded by shame and people don’t want to reveal their true situation even if in the long run it is better for them. Getting to the core of a problem earlier rather than later can make such a difference in making a deal work as costs mount up as time goes on. Next week I have an appointment with a woman who asked for my help over a year ago. It would have been much easier then. I gave her a six point plan to follow to help her which I know she hasn’t carried out. Now she wants me to get her out of a deeper hole. Like the old saying says ‘you can lead a horse to water but you can’t make it drink’. None of us are that good at taking advice when we want to do something else.

Communication is being difficult at the moment. I must have at least six people that are not returning my calls. It’s not holiday season any more, everyone should be in the thick of it. It’s no problem when people say no. It’s a real problem when people say yes and then don’t respond. I can only work with anyone if they want to communicate, we all have busy lives but I have to start making new rules where if people don’t come back to me after a phone message, a text and an email I’ll have to presume they’re not interested. The trouble is I know they want to work with me but just have so much going on in their lives they don’t have time to respond. However, the time factor has a knock on effect which makes it difficult for all parties involved. I suppose it’s all around listening and reading people really. There’s nothing personal as most of these people I have dealt with long term and we merely need to see these experiences as challenges to modify our approach. Like everything in life it’s a continual learning experience.

The ability to see problems in perspective is quite an attribute as it shows clear mind set. The people closest to a problem are often the last to see it for what it is as the gravity of it weighs down their thinking. A problem festers and the mind often considers the inability to deal with it as failure, this generalization can leave some people feeling completely helpless and yet the problem could be easily solvable. It’s a false belief that any problem is all encompassing as it just needs a different view. Some part of it, no matter how small, must be taken control of immediately to ease the situation, non-communication isn’t helpful to anyone but even this is generalizing and there’s certainly nothing new in poor communications even with all the modes we have now. Reality is that we are all worse communicators now than ever before simply because we can’t cover all the bases of all the ways to communicate.

Always try to respond sooner if you want to be in control.

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