Adopting A 1000 Property Mindset

Transcript

Unknown Speaker  0:01   The purpose of wealth talk is to educate, inform and hopefully entertain you on the subject of building your wealth. Wealth builders recommends you should always take independent financial tax or legal advice before making any decisions around your finances.

Unknown Speaker  0:19  
Welcome to Episode 90 of wealth talk. My name is Christian Rodwell and membership director of wealth builders. And I'm joined today by our founder Mr. Kevin Whelan. Hi, Kevin. Hello, Chris. Good to be with you again on episode 90. I know. 100, we're on the last straight to 100. Yeah, exciting stuff. So it's obviously the start of a new year, Kevin. And today's episode is really about thinking big. And our guest today, Ryan, Luke, is someone who has got quite a unique take on this. And we're going to be hearing about the 1000 property mindset, and the importance of having systems and people around you, that can help you to think bigger. Yeah, I mean, look, that's where leverage comes from, you know, in business, doesn't it? Is the expansion of having more people to do certain things? And of course, we know, deep in the psyche of a good wealth builder is the knowledge of their own wealth dynamic. And even though I don't think Ryan has done his wealth dynamic, and the way we would know it, it's pretty obvious when you start talking to him where he fits, isn't it? Really? Yeah, definitely. He's someone who likes to pay attention to detail. And he talks about, you know, sometimes you know, overanalyze things. But, you know, even if you're not a numbers person, then you know, you can get people around you who love doing the things that you hate. And of course, the best way to really get clear on where your strengths or weaknesses are, are by taking the wealth dynamics tests, and we can put a link to that in today's show notes as well. Yeah. And you bet. It's obvious where he is, and good, good to see it. But the other thing, of course, is not just leverage of people. It's leverage of systems and process. So I think it's playing very well into his actions. And and I think it all starts, as it always does. What was the catalyst? Well, you'll hear what the catalyst was, although you hear hear the catalyst actually more towards the end than you do at the beginning.

Unknown Speaker  2:17  
And then, you know, what he's done to build teams, based on a mindset of thinking way, way, way beyond what you could see yourself doing if you were doing it as an individual. And I think that's a very powerful lesson. And in fact, probably is the essence of the lesson that we learn today. From from Ryan.

Christian Rodwell  2:38  
Yeah, well, let's not wait any longer. Let's head on over to our interview today with Ryan Lou. Ryan, welcome to wealth talk today.

Unknown Speaker  2:46  
Hi, how are ya? Very good.

Christian Rodwell  2:47  
Thank you. Good to have you on today. Now, we're going to be talking about systems and processes and the importance of tracking your numbers in your business, because this has been, you know, fundamental to your success over the last few years, Ryan, but before we do that, would you mind just introducing yourself for our listeners and give them a bit of an idea as to who you are and what you do? Sure.

Unknown Speaker  3:06  
Yeah. So my name is Ryan, Luke, I predominant northeast property investor, so tend to invest in the north and heavily involved in serviced accommodation, but also filtering, you know, diversify the portfolio into HMOs and single lats, and do their coaching now and mentoring to try and help people follow in the footsteps. I do think property is a great game. And and I think there's a lot of wealth to be built from it. So. So yeah, that's a brief what I do.

Christian Rodwell  3:37  
And of course, at wealth builders, we talk about the Seven Pillars of wealth. So you know, focusing on the property pillar, but you mentioned there, your strategy, Ryan, and that strategy is serviced accommodation. So, you know, before we continue, I've got to ask you, Ryan, this has been a tough year, but how have you managed to? You will, how have you fared with with that strategy this year?

Unknown Speaker  3:57  
Yeah. We have probably bucked the trend a bit. So we've had a really good year. And I do think it could have been better, obviously. But before COVID, I realized that serviced accommodation wasn't about stag, and hen parties coming to to your city for the weekend, I quickly realized it was about contractors traveling. And I started to leverage that several years ago. And that's probably helped me scale as well, because I started to win contracts and get more more of their employees booked into rooms and I could see the profitability of working with these type of companies. So everyone is now looking for direct booking contracted bookings. And I see all over Facebook, which makes me laugh a bit that you know, since the, it was so easy before like, you let you get a property put on Airbnb and the rest just it happened, you know, and then COVID hit and the game changed, but the game didn't really change for me because we were already Doing what people are now doing. The only thing we've lost this year is probably the the weekend stag and hen parties, which would normally be, you know, flooding to Newcastle, Durham, Sunderland, and, you know, the football crowds that used to come every other weekend, we used to get the away fans come for, obviously, the football matches. And so we've kind of we have lost that. But the contract of buttons have been very steady. We had a great July and August because I think a lot of people were traveling in the UK rather than going overseas, mainly because they couldn't, or were still a bit scared of the virus and didn't want to. So yeah, all in all, we've had a we've had a great year. And we'll come we continue to acquire and we continue to push. And you know, I feel like the model does does work really well. We're, we're very well known now in the in our region. So when contractors do come up, we tend to get a lot of phone calls, or we get tagged in Facebook for we're doing a lot of work with Amazon right now, because there's two big centers getting built in Washington, and darling. So they we've been hosting them. And there's some huge renovations going on, and the key side in Newcastle starting next year. So there's plenty of good stuff going on. And I think we've kind of set ourselves up prior to COVID. To take care of that.

Christian Rodwell  6:18  
Yeah. So what was the catalyst for you, Ryan, because we talk about the beginning of anyone's wealth building journey is to get really clear on the reason why. And I know that there was certainly a kind of turning point for you a few years back, would you mind just sharing that?

Unknown Speaker  6:35  
Yeah, sure. So I, I've always worked hard. And you know, I've always, I've always loved money, I'll be honest, you know, a lot of it is about the money, and especially the beginning, but I was I was sat on my couch, and I couldn't be bothered to my two year old son, he would have been then to his birth to a birthday party, I just couldn't be bothered. And you know, I wasn't really engaging to our arm, and it wasn't great. put it that way. And then, you know, as you do sat on the couch, feeling sorry for yourself, scrolling through Facebook, and a sponsored ad pops up about, you know, you can build a great business, but be careful, you don't burn your ship whilst you're doing it. And it just like really resonated with me that, you know, I'm putting so much time and effort into building the business. So but what's the point, if you've got no family, and you don't spend time with your kids, and your wife hates her, and, you know, so it really hit home and I delve into it a bit my period and I was there and then $300 or whatever it was to get all the videos and watch more and, and that consumed a lot that day before they even came back from from the party. And then I bought into their they had a mentorship program. And that was all about kind of your four pillars, which was if I remember them now business, your business, your health, your, your faith, which isn't really my thing, but I kind of went with it, business healthy and, and your wife, your family. So it's kind of like having all four of them intact, to be able to thrive and be the best business person you can because we see it so many times where you've got the most successful CEOs, but they're like 25 Stone, and they're like, you know, they just haven't take care of the health at all. Whereas like, your body is your, your biggest asset you're ever gonna own without your body, you can do nothing, you can't build a business if you've got no health, or you're not a long term anyway. And then obviously, it was about you know, you can have all the money in the world. But if you've got no family, you've got no happiness. And you know, if you've got no kids, you've got no relationships. And so it was I could quite quickly see that my balance was totally off. So that's why I engage with them and, and really start to balance everything out. And from that naturally, everything then becomes so much better, including the business.

Christian Rodwell  9:00  
Yeah. So one of the reasons why your business has been so successful is because of the systems, the processes that you've, you know, you've put together and I know you're religious about this topic. So can we perhaps dive into you know, first of all, why do you believe that nine new numbers in your business is so important?

Unknown Speaker  9:23  
I just think numbers can tell you anything about your business health. So I have numbers drill down to and people laugh when I say this, but I know how much drive time my deal sources have to spend per week to be able to acquire the number of deals that we need per week, because I like nail it all the way down from you know number of viewings, we need to go on number of offers, we need to make number of hours spent on the viewings, number of hours spent driving around the viewings, and I've got numbers for like every single department, so you know how many hours we need to spend van stalking to get so many direct bookings etc, etc. So I just think with your numbers, you can you can what can be measured, can be altered, right? So if you're measuring something and you know, it's not going well you can alter it if you just fly blind, which so many people do I get so many people, you know, clients come on board, and I'd be like, what's, what's your monthly net profit? And I don't know, but I know my bank balance is doing x y, Zed and say, You can't gauge off your bank balance, you know, especially as you grow. There's so many different departments. And quite often, you know, people have maybe five or 10 properties, but they don't know individually how each one's performing. They just know as a whole what the performance is, well, that's all well and good. But what if two of them? Absolutely, so can you profit off, and if by just get rid of them, you could be so much more profitable. So I just think no, and you know, Moses is is a key fundamental to anything you know, you look at anywhere in life. I've just bought a peloton, for example. I don't know whether you've been on one yet. But it's all about the numbers, right? You know, your cadence, your resistance and your output, and then you start challenging each other based on numbers, and you compete with yourself based on the numbers. Without those numbers, you just be riding a bike, and you wouldn't know whether you're getting better, stronger, faster fitter. So I think it's the same view of business. Without it, you don't know where to go. And I don't think you can then really identify the bottlenecks, but also identify the good areas to really, you know, push, push, push the pedal, I'll give you a good example. So I've just recently analyzed as a bit of feedback coming back from the guest handlers and the Operations Manager saying, you know, they're a bit overworked and this and that, and the other. So I analyzed when the incoming calls were coming into the business, based on the data, I was totally surprised it's, it's switch so much since COVID. So my guests on this usually work 3pm to 8pm. And over the weekend, and I used to give them Tuesdays and Wednesdays off because that predominantly was the busy and quiet times. It's changed now, where basically monitors are Wednesdays are our busiest days, we hardly get any phone calls on Saturday and Sunday, nothing happens after six o'clock. So I've been they've been working the wrong hours for the business, which has been pulling them into overtime. And then them getting stressed, etc, etc. So by knowing those numbers, with literally before this phone call we have we had a zoom call with everyone. And we've just rejigged the whole unit work the schedule for everybody. And everybody's, you know, happy with it. And we'll roll forward with that. So that's just a real time example, literally this morning. And

Christian Rodwell  12:34  
yeah, no, I'm sure really, when you analyze it, you could probably, you know, put your numbers against all four of those pillars that you mentioned, right how much time you're spending with your family, you know, how much screen time a kid spending and things like that. But obviously, we're focusing more on the property, business and business in general. So, you know, another thing we talk about wealth builders often is knowing your wealth dynamic and understanding, you know, what your natural flow, and the areas where, you know, should be focusing your time in the areas where you shouldn't be focusing your time. And some people naturally, like the detail, right? So their systems, people, you know, numbers is something they enjoy doing. And for some people, they absolutely hate it. Right? And so, you know, is the reason that you've got such, you know, sort of rigid systems in place? Is that because it comes naturally to you? Or is it something you've just identified, that is super important.

Unknown Speaker  13:26  
Um, I've always liked maths, I'm not gonna lie. So whether that's to do with anything, I don't know. But I have always been a bit of a numbers person. What, whether it comes naturally or not, I don't know, I taught myself how to write code on a spreadsheet about five years ago, 445 years ago, because I realized that I thought numbers are really important. So I was building spreadsheets out. And I thought, there's got to be a quicker and easier way to analyze data. So I taught myself how to write formulas on spreadsheets. And if I could advise anyone who wants a skill set to learn that is a skill set to learn because you can do so much with spreadsheets, when you know how to write formulas. It can save you so much time, and it gives you the data snapshot. So I that was probably the start of me getting into numbers. And then I think as you as you start to see success in your business, and obviously money coming in, I naturally just thought I need to be I'm quite organized as a person. So I like to have I guess the organization has the numbers as well. So it's I the numbers drive the organization. So what's working, what's not working? Where am I overspending? And, you know, where do we need to make changes? And yeah, I probably sit in the middle of it natural versus have I forced the issue to make it work. I would say I'm definitely not 100% unnatural. I got to the point where I overanalyze, I was like everyday putting numbers in a spreadsheet, and I was like this, this isn't efficient. So now I'm like once a week and I think that's enough. If you've got the right KPIs. track?

Christian Rodwell  15:00  
Yeah. Well, that's that's a good point. So I guess for for listeners now, you know, some of them perhaps that they'd say, Okay, I reckon I could do this myself, some people just would be like, no, that's my worst nightmare, in which case, that's fine. You know, you can always find someone who loves doing the numbers and bring them in, in some capacity to business. So what would be for, you know, a property business owner, Ryan, what would be like the key metrics that they should start tracking from the beginning that would have the most impact do you think?

Unknown Speaker  15:29  
I think you need to track per property for stars. So each treat each little Prop, each property needs to be treated as its own little business. And you want to you want to know, and then I actually break them down into into different sectors. So I service combination, HMOs, single let's, and then I actually go further, as owned, rented and manage. So there's like different layers, but we'll keep it simple. Every property, how much is coming in at the front end, what you spend in the back end, and what your net profit is, per month, in all three simple figures, really, I would probably break your costs down so you can actually know what you're spending your money on. And if you then need to dig into those figures further. You can obviously, your gross revenue is going to come from either guests or tenants. The tenants is easy, it's just one payment per month. If it's guests, then you want to know what what what the average price is per month into that accommodation unit. And therefore, can you tweak that five or 10 pound a month per person? And what difference does that make to your bottom line? So it just little things like that can make such a big difference to your bottom line just by small little tweaks?

Christian Rodwell  16:37  
Yeah. And do you use any software? Are there any apps that you can recommend that have helped with this?

Unknown Speaker  16:45  
You know, I've, I've, I've probably tried them all, and always ended up back to a Google Sheet, or a spreadsheet, which I use a lot of Google Sheets now. But I hear I mean, you know, come back to I taught myself how to write formulas. So I feel like I can probably knock out a spreadsheet to give me the information I want quicker than I can probably put a software together, I use it off the shelf tape, tape software, we use QuickBooks as an accountancy software. And myself my bookkeeper we have designed quite a lot of customized reports, which are probably copies of my Google Spreadsheets in a way. So we just click a button and the information comes out. So probably between the two of them, you know, I think most good accountancy software, zero QuickBooks, etc. They give you customized reports, and you can pretty much click a button and pull it out, as long as all your inputs are organized, because date is only as good as the date you put in. Right. So

Christian Rodwell  17:41  
yeah, yeah. You mentioned earlier that you'd be your biggest asset is your health and probably another huge asset is your time, right? And how do you go about tracking your time, Ryan.

Unknown Speaker  17:52  
So I am quite organized in the fact that every Sunday, I mean, if I showed you my Google Calendar, now on the screen, it's I live a pretty boring Groundhog Day sort of same things happen. It's the same sort of times of the day. And then I kind of just fit, you know, things like this, and just around certain slots that I've got. But I'm quite, I'm quite organized in that front. And then I you know, I do block times off timeout, you know, kids time, things like that. I do reset days, every sort of two or three Saturdays were like no phone, no TV, no anything, just like just to have a reset and go away from the word old for a day and try and stay off coffee and things like that as well, which I think's important. And but yeah, so I don't necessarily. I know, personally, if I'm getting stressed about not having enough time to do anything, like if I feel like I'm running out of time, or constantly running around like headless chicken. And I think that's how most property entrepreneurs fail at the beginning, because most of them are doing it around another job, when they first start off, so they're trying to squeeze hours in here, and then they never feel like they have enough time in the day. But I can quite easily look at someone's calendar, and I will see is whitespace on that. And you know, there's just no organization at all. So I'll say quite often, I feel like I control my days and weeks, whereas most people let the days control them by just waking up and seeing what happens that day.

Christian Rodwell  19:26  
I think that's very true. And even if you've just got, you know, a limited number of hours per week, as long as you're focusing and you box that time off, and you know that you're not gonna let anything else distract you. And that is in your calendar. And that is, you know, gonna happen. And I know you start your days early, you're part of the 5am Club, Ryan. So, you know, do you have set tasks that every day in the morning, even if it's non work related, but just to get you in the right kind of frame of mind for the day ahead?

Unknown Speaker  19:56  
Sure. Yeah. So I don't You can commit to getting up at 5am every morning, if you haven't got a clear plan when you get up. So I've tried it where you just think, oh, I'll just get up, and then I'll do some, you go back to sleep, honestly, or you sit on the couch and you drift off, you have to get up, and you need to know what you're doing for the next two or three hours. So if not, you just cannot get out of bed. It just doesn't work. So I actually did a YouTube video on this the other week, things like the nine, the nine things you need to do to get up at 5am. And it is about waking up and just getting straight up, no snooze, and no nothing and just go at it. But then go straight into your tasks, obviously hydrate first and get your body go and go straight into your task. So I typically do, I'll do an my KPI analysis from the night before from all my team members, because they have to put in their day report. So I have a quick flick through them 15 minutes or so I'll then do an hour's worth of education. So whatever I'm wanting to study at the time when I'm reading a book, or I want a mentorship or whatever it might be. And then I'll do probably an hour to an hour and a half worth of fire messages into my team just basically what I need them to do for the day. And a bit of marketing, I love to market and stuff. So I'm constantly at the marketing department just flashing ideas, that's when I get my creative sort head on. And then and then I'll be honest, that's pretty much me done for the day. If I wanted to, I could stop there. And then I kind of go about my day thereafter. But that sort of two three hour work that I do in that time is totally uninterrupted. There's no phones go and there's no kids running around. There's no one pester me from work. I feel like that, that three hours focus time is probably as efficient as probably anybody does nine or five at a normal job.

Christian Rodwell  21:40  
Yeah. So let's move on and talk about the 1000 property mindset Ryan, which is, you know, something that both Kevin and I thought was really interesting, and certainly want to hear your take on that.

Unknown Speaker  21:52  
Sure. So, so I'm a big fan, I think is something like whatever you say out loud, has 10 times more chance of happening or something like that, you know, it's all about the spoken word. So I quite often tell people that I want to acquire 1000 properties. By the time I'm 40. This is a goal that I had a couple of years ago, it's a goal that I've still got. So that's where the 1000 comes from. Now, when I saw the first sort of, I don't know 15 to 25 properties that I had, I run them all myself, I didn't have really any help at all, I was doing all the DIY, I was doing all the setups, I was like wearing all the hats, and I ended up in hospital, cracked my head open on a van door and run like an idiot, split my head open. And you know, was in the hospital, my wife's like, you're gonna burn out, you know, you're there. This is the sign, you know? So I was like, how do I continue to push forward, but make sure that I don't burn out. So that's where kind of a lot of the systems and things came from. And I realized I had to put them in place. And then I realized I had to get help. But what I realized at that point was I acquired loads so quickly, but then I had a real dry spell where I didn't acquire anything for about three months. And I was like, Well, that's because I'm doing all the operations. So I'm the time to do all the viewings. So that made me think, Okay, well, if we are going to get to 1000 properties, from day one, I need to build with that 1000 property mindset. So if if I had 1000 properties today, so say for example, if if someone rang me today and said, Could you by any chance go and do a tenant viewing for one of the HMOs? My answer to the flat out? No, I know that it might generate me some revenue. Like obviously, I might get a tenant on and I should really go and do it. And it's not near that. But my mindset is the 1000 mindset. So if I had 1000 properties, right now, could I go and do a tenant viewing? No, it would be impossible, because I'd have so many other things to do. Or I would be asked to do probably 15 viewings a day, or whatever it might be. So every one of my team now we have this 1000 property mindset where it's like, could you do that task? If we had 1000 properties right now? And if the answer is no, then we need to then solve the problem and make sure we've got the right person in place the right system in place, the right software, whatever it might be. I believe that by doing that now, that will help me get to 1000 properties. And when I get to 1000 properties, I won't then have the operational issues. And I think it's kind of a knock. It's a kind of chicken and egg scenario that if I didn't do it now, I would never get to 1000 because I would always just be written around these operational issues and solving them rather than actually moving the business forward every week. Does that make sense?

Christian Rodwell  24:45  
Absolutely. Yeah, it does. And you've set yourself a target for the 1000 properties. I know and and how how is this year fared in terms of you know, that step towards that?

Unknown Speaker  24:56  
Yeah, so I think I bought another one last night, actually. We're late, my brother rang me last night and told me how to pay an auction fee. So we bought another one last night. So that's the two, I think we're about 100. And now that'd be 104. Now for the year acquired, so I'm still hopeful we can get a few more in there before the end of the year. And, you know, I'd like to think we could maybe push 110 this year. So it's been, as I said, it has been a good year. And and I want to scale it next year, again. And then that gives me so I'm 37 in March coming up, so and you

Christian Rodwell  25:36  
think you said by 40? Right, ideally? Yeah. That's good, good, good. Okay. So it's been really interesting, you know, hearing how you run your business. And obviously, what the systems that have allowed you to acquire such a large number in in a short space of time, Ryan, but you're also now helping others to follow in your footsteps. So I know you're now developing, you know, training based on what you've done and implemented in your own business, created IP written a book. And, you know, you've helped a number of people hit at 10,000 pounds a month recurring income. And that is the figure that most of our members in our program would say that if they could have 10,000 pounds a month recurring, then they would be financially independent. So I'd love to know, Ryan, is there a particular kind of difference in the mindset or the approach of the people that you've helped to hit that milestone compared to those that don't?

Unknown Speaker  26:34  
Yeah, I think there's a there's a number of factors, but I think for one, they they don't do excuses, then they're not, I haven't got time, or, you know, I can't seem to find any properties, or there's no landlords want to rent to me, you know, I just don't hear excuses from them. And they're very organized, I think they're very organized with everything, the time the you know, what they do, they even their business setups, when we dive into them, even in the early days, they there, they've got good structure there already. So I think they just stop at nothing. And they're always willing to invest in themselves more and ask questions, like, I I'm on a mentorship at the minute and you know, and pay a lot of money for it. And I'm a firm believer that you should always be investing in yourself or your team. So my current mentorship is for my team, so as well as myself that they've got access to it as well. So, you know, we're moving forward, and I'm constantly educating them, but the people that get to that sort of 10 grand a month, I just think they'll stop at nothing, they're constantly wanting to learn, they're educating themselves all the time, they're wanting to get better, they never have the, I've cracked this now. So I don't need any help. They're always wanting to just go for more and ask for more and surround themselves with good people. And everything I ask them to do, they take on and they go and do it. You know, and that's, that's the key, you know, you can have I speak to a lot of people, you know, whether it's, you know, on pre onboarding calls, or during the program, and I've seen a lot of people come and come and go through the program, and most of them are successful. And then you've got, you know, your handful that are really successful. And it just, it just comes down. For me, it just comes down to the individual who just will stop at nothing, and they just will do anything that's asked, and they don't make excuses, which is the biggest thing that not once do, I hear them make any excuse. I missed that this week because of x y Zed or you know, I was a bit ill so I decided not to bother, you know, this show up on the days that they don't want to show up on. And for me, that's, that's, that's the winner. And I'd say also,

Unknown Speaker  29:01  
they are

Unknown Speaker  29:04  
probably less risky. They're not here like a bit like me and I I'm definitely on the other end of the scale and risk averse, you know, I would damage to foot so just get stuck in type of person. And I think in property, you've kind of got to be a bit like that. You can crunch your numbers and you can analyze your deals as much as you want. And you can get all the information you want. But at some point you need to pull the trigger and pulling that trigger is a risk. And for me, that tends to hold a lot of people back more than anything. Too many people think what if it doesn't work? I like to think what if it does work?

Christian Rodwell  29:38  
Yeah. Fear of failure, fear of making mistakes? Those things yeah. Okay, great. Ryan, thank you so much for sharing today and if obviously our listeners they want to check you out. I have not mentioned your podcast either which I know you host so where's the best places for them people to go.

Unknown Speaker  29:56  
So I've got a Facebook group called the seven figure Property Empire. There's loads, we do loads of expert lives in there. And, you know, we've got you guys booked in for January to come on there as well. And, you know, so that's pretty much where I hang out a lot. So feel free to join and get stuck in their property. Therefore, the podcast is called How to property podcast, same title for the book as well. So an official Ryan Lucas, pretty much all my handles on social media. So yeah, you're pretty active online. So

Christian Rodwell  30:27  
plenty for people to see there. Great. Oh, look, we've been recording today on video as well. So if you want to check out the video recording of us chatting, then head on to wealth builders Facebook page, and all the usual places online. So Ryan, thanks being a great guest today on wealth talk.

Unknown Speaker  30:44  
No problem. Thanks.

Christian Rodwell  30:46  
So Ryan's done tremendously well, in the last few years, Kevin to build up his business, certainly this year with the difficulties around service accommodation, and these actually accelerated even further, but as with most entrepreneurs, Kevin, they just get started. And they don't necessarily have all the answers right at the beginning. And, and Ryan certainly didn't have the 1000 property mindset from day one. But, you know, as we heard from some of his observations of the mentees that he coaches, you know, one of the important things is just not to have excuses is just to get going.

Unknown Speaker  31:17  
Well, that's certainly true. And that's a lesson, you know, that we believe is valid for all of our wealth builder members, as well. But I always look for the catalysts, you know, that what's the one thing that happened in somebody's life that made them change their mindset, you know, that we call a capitalist, something that stimulates or moves people from a place of inertia. Now, he wasn't inert for sure. I think he said he was running around like a headless chicken. And he nearly became a headless Nick. You know, that was a joke about Harry Potter, but never mind. You know, he had a real damage to his head, didn't he with, you know, come running into or being not very seriously and damaged by a van. So, you know, wasn't good wasn't good. So despite being a bad joke, it was a bad accident. And as a result of that, he had to think bigger and better for himself. And that's where I think, at least as far as we can tell where the 1000 property mindset came. And and if you can imagine just saying that to yourself, and absorbing, in the very essence of your wealth, building DNA. You can't imagine doing 1000 properties on your own. You just couldn't do it. Could you? You couldn't, as you said you couldn't do the viewings, you couldn't do the fixings, you couldn't do the greeting, you couldn't, just couldn't do it. So consequently, The very thought of the 1000 property mindset, what a headline, it's a great story. And it makes you focus on leverage. Because it's not about you anymore. It's not about how do you do it? It's, you know, what, who do you get on board to help you do it. And and that's another reflection of what we say, always Chris is don't focus so much on the how, but who can help you achieve what it is you want, don't think you can do it on your own. And I think he's done an outstanding job of putting things in place. And, you know, getting his own wealth dynamic to, to focus on so he does what he's outstanding at, and then allows the leverage to fill the gaps.

Christian Rodwell  33:32  
Yeah, and if anyone listening now is perhaps new to wealth talk and, you know, doesn't understand some of the processes that we have in place to teach our members the wealth building process. And we we have an acronym really for for leverage, which is fyrst, Kevin, and we did an episode back in Episode 11, which was creating leverage using first. So first stands for financial intellectual relationship systems and time. And time leverage is absolutely the most crucial here. Because if you haven't got time for wealth building, then it's going to be a very slow journey.

Unknown Speaker  34:06  
Well, time, as I've said before, Chris, I mean, you could tell that, you know, this gentleman is very big on time leverage. I mean, just listen to what he was saying. You control your diary, don't let it control you. The quality of time he gets uninterrupted time, from you know that those few hours after 5am. And that's his unique way of doing things but, you know, no interruptions, doing things that he wants to do, whether he's on peloton whether or not he's leveraging his time in a big way. And that's the most important thing because if you don't give it time, all you do is entertain yourself, you know, you don't take action. And that's what he was saying about. What other people do is they can invest in themselves. Yes, they do invest in themselves, as many people do. But the key is overcoming the fear, accepting this risk and taking action. And it's the small steps, isn't it, you take some action, and then you learn to change your view, you know, you become a different person. So wealth building, as you can see here with Ryan is transformational. This guy is very different to the guy who was running around like headless chicken at the beginning. So, you know, this is really important lesson here, that you don't have to know all the answers at the beginning, you just need enough to take the first step.

Christian Rodwell  35:29  
Yeah, reminds me actually Kevin of a quote from Mark Zuckerberg, obviously, the founder of Facebook, and probably one of the richest men in the world. And, you know, he said, I'm really want to clear my life to make it so that I have to make a few decisions as possible about anything, except how to best serve his community. And there's actually a bunch of psychology theory that even making small decisions around what you wear, or what you eat for breakfast, or things like that, they kind of make you tired and consume your energy. So that was the reason behind why he always wears the gray t shirts. But, you know, I heard elements of that from Ryan as well about just, you know, reducing the number of decisions and just checking your KPIs once a week. And he said that with his kind of early morning routine, you know, he's pretty much done for the day, by sort of eight, nine o'clock. And if you wanted to stop there, he probably could.

Unknown Speaker  36:19  
Yeah, it's an interesting one. I mean, I suppose when you focus on those things, you know, you, you remove the interruptions, and you know, that other people are taking care of things, then, you know, that's, that's the recipe to systemize your business and take it to another level and anybody who's even remotely near 1000 properties, and he talked almost nonchalantly, quite a humble guy, I guess. 100 properties within the first year in this year? I mean, that's outstanding.

Christian Rodwell  36:53  
Yeah, it certainly is. So I guess, you know, tracking numbers can, you know, can be looked at across all elements of your life, not just in your property business, you know, no matter what pillar you're focusing on, you know, what is your equivalent of your 1000 property mindset, whether that's, you know, in business, or it's, you know, working in joint ventures, whatever it might be, you know, figure out what your equivalent is, so that you think bigger for 2021. And it was interesting as well, at the end there listening to Ryan talk about, you know, his mentees, and, and the mindset that they show as well, the difference between those that really hit their goals. And we know, of course, that the average figure for our members, Kevin, to achieve financial independence is is around 10,000 a month. And it was interesting what Ryan said there at the end,

Unknown Speaker  37:42  
yeah, it was interesting. And it's amazing that wherever you go, and whoever you talk to, there are similar values and principles in play. You just talked about those numbers, because you remember, wasn't that long ago, we heard from Frank flag, and he was talking about the number of hours or nights actually wasn't it, it was a number of nights for homeless people that they were creating. And that's a number, you know, so find a number that isn't just about your own personal wealth. Yeah, that's fine to focus on that. But think of another another number that just demonstrates leverage in action. You know, whether it's x number of rooms X number of tenants X number of businesses, X number at the beginning, maybe it's just X number of letters sent or email sent or properties reviewed? Or is it you know, investment opportunities that you've, you've considered or the end, you can think of something that at least at the beginning is a number you can focus on, until you find something that in the end, I think one of the, the key components of those who are absolutely living a wealth building life, Chris, is they end up standing up for something, you know, they stand out, because they're taking a stance, and I think this is what Brian is doing as well. He's found his niche, you know, looking at the contractors, he's trying to do things in an outstanding way. He's really focused, he's really focused on helping other people to do the same thing. And I'm sure he's a no nonsense, mentor, because he just say, look, if you do it this way, it will work. And and I applaud him for it. So you know, those things that, you know, we encourage other people to do the same, Chris, which is that humility to ask questions is always important, isn't it really, the willingness to invest in yourself, not just for the sake of reading a book or listening to a podcast is some form of entertainment, but it's something that you can take away and do something. And I think that's the essence, isn't it? Really, Chris, if you read a book, what action will you take as a result of doing that book and review it and say, I read this book, this is the action I'm going to take a listen. into this podcast. This is the action I'm going to take. And I think, excuse me during the course of 21. Chris, I think we might just introduce some new ideas to, to help people kind of focus on small things, so that they can overcome the inertia, especially those at the beginning, when they can quite easily get into overwhelm, and not get started at all.

Christian Rodwell  40:22  
Absolutely. And there are seven pillars of wealth seven assets that someone can focus on to build recurring income and build their wealth. But as is often the case, Kevin, starting with one pillar then leads to another and then another. And we've seen that with Ryan, he started with property, develop that into a business now and now with his experience is developing that into IP courses, books, podcasts. So it's one step at a time and not to get overwhelmed at the beginning. But to focus on the right path for you understand your wealth, dynamic focus, get into flow, you know, concentrate on turning one or two wheels at the beginning. get good at those and then the rest will often follow.

Unknown Speaker  41:04  
Yeah, I couldn't have said it better myself. Sounds like you'd be learning from somebody chris. 90

Christian Rodwell  41:09  
episodes in now, Kevin. So I enjoyed listening to Ryan today. Thank you very much for sharing and thanks for listening again today. We appreciate your time, and we're looking forward to another year of wealth talk ahead was Kevin. And of course, we always love to hear our feedback and comments from our members. So if you're not already a member of our Facebook community, do join us in their head to Facebook search for wealth builders, or you can just go to wealth builders.co.uk forward slash Facebook, and we'll be back again Same time, same place next week, Kevin. Okay, Chris, and until then, my friend See ya.

Unknown Speaker  41:49  
We hope you enjoy today's episode. Don't forget that we are constantly updating our resources inside the wealth builders membership site to help you create, build and protect your wealth. Head over to wealth builders.co Uk slash membership right now for free access. That's wealth builders.co.uk slash membership