Seven UK Property Lessons I Learned This Year

#187

This is the first instalment of a special season of daily episodes celebrating the 12 days of Christmas.

But, this content has been designed to be consumed at any time of any year!

For the next 12 days, we're giving you Seven Gifts a Day.

Today's episode is Seven lessons I learned in 2024.

In the spirit of brutal honesty, here are seven things I’ve learned in the past year:

Lessons that have come from either failure or perhaps just things that need improving…

The Seven Lessons Learned:

• 1: To Be More Careful at the Start
  • Optimism vs. caution
  • Importance of attention to detail in arrangements
  • Examples of oversight with service accommodation and business partnerships
• 2: To Take Action Quicker
  • Balance between analysis and momentum
  • Reference to Benjamin Hardy’s approach
  • Combining quick action with careful analysis
• 3: Delegation
  • Importance of hiring and delegating tasks
  • Hiring experience and benefits
  • Onlinejobs.ph recruitment platform
• 4: Financial Control
  • Essential for scalable property investments
  • Need for detailed financial analysis beyond an accountant's role
  • Example of discovering cost issues within the portfolio
• 5: No More Coffee in the Evenings
  • Personal changes for better productivity
  • Impact of evening caffeine on sleep
  • Alternative: Chamomile or peppermint tea
• 6: To Pay More Attention to the Motivations of Others
  • Understanding motivations behind advice or opinions
  • Example of property commentators on stamp duty
  • Awareness of potential biases
• 7: To Think About the IRR (Internal Rate of Return)
  • Reconsideration of investment metrics
  • Importance of IRR alongside ROCE (Return on Capital Employed)
  • Example involving ROI and project timeline

Our investor list is full right now, but we'll be doing more projects in the year ahead.

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Keywords
investing tips, property investment, expat property story, Christmas podcast, business relationship, optimism in entrepreneurship, property management, service accommodation, financial control, property portfolio, management fees, hiring process, delegation, property strategies, UK property market, stamp duty, renters rights bill, interest rates, property legislation, property motivation, internal rate of return (IRR) return on capital employed (ROCE), property commentator, expat property challenges, investor list, podcast review, future planning.