Last month, PPP Partner Liam told us about how he felt just after joining. Now, a few weeks into his journey, Liam is busy sorting his finances, preparing for mentoring and searching for potential properties online.
"It’s hard to believe that less than three months ago I hadn’t even heard of PPP and now here I am sourcing my first property. It’s been a very intense few weeks to say the least and there are a lot of things happening at the same time so it’s all go, go, go right now.
Initially, we spent a lot of time releasing money from our assets to fund the investment with PPP and building up a sphere of contacts from across the PPP Power Team to help get us started.
We’ve had really valuable calls with our purchase mentor, Andrew McMullan, as we search towards our first property, whilst simultaneously trying to digest (some of) the wealth of information available on the PPP intranet and supporting manuals.
The biggest pre-mentoring stress for us has been what and where to buy, particularly at such a comparatively early stage whilst you are still learning. Without having a trained eye for potential properties, our immediate assumption was that the ‘better’ parts of town would be necessary - we now understand that it is the ‘right’ parts of town that matter. So, in terms of our search, it started off slowly and maybe in the wrong place (locations and prices), but that’s all part of the learning process.
For the past 10 days we’ve been able to put our net in the right place and are now very close to achieving a short list of 10-12 properties for our purchase mentoring. We have connected with some of our local Partners, who have very kindly invited us to visit their existing properties. These visits have been invaluable and a very early illustration to us of the PPP community ethos.
Despite all of that, the journey thus far has been pretty much what I expected. With our purchase mentoring almost upon us, the next part will be very much outlay, both personally and financially, but I understood from day one and that this is simply the next part of the journey. I knew that finding our first property was going to be challenging, as “you don’t know what you don’t know”. As all our previous property acquisitions have only ever been bought to live in, we have to ensure that constantly any personal opinions are put into perspective by professional considerations.
We’re currently attending our first Quarterly Workshop, which is great fun, and then we’ll be meeting up with Andrew next week for our purchase mentoring - and hopefully making an offer on our first property! This is the finish line in some respects, but that’s just the first leg of the journey! There’s another starting line coming up and I can’t wait to get there."
Read the next Partner Diary from Liam -
