April 2, 2022

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I’m flying into Leeds today, to go and update some properties and actually get hands on once again with my property portfolio.

I’ve felt like its been neglected for a while, and left in the hands of others who never have quite the same vision as you do.  It’s not their fault of course, they’re just pre-programmed from their past experiences and with a certain point of view which isn’t mine.

And sometimes that point of view works, and sometimes it doesn’t.  So my job is to go and bring up all areas to a better standard, and a better way of thinking.

So I’m off to get all hands on again, and help the team make some massive leaps forwards in terms of getting stuff done.

One of the things I’ve noticed is that when I’m completely hands off, and just sat at my desk all day directing traffic, it actually gets pretty dull, and I miss both the excitement and the challenges that property brings.

Especially over the last 2 years with the pandemic.  I’m an person that likes to travel, not one to be caged up and stuck in one single place.

So what has this got to do with the hero’s journey ?

Well, for a start, we’re all on one. You’re on one, and I’m on one.  Sometimes it’s a similar journey with similar challenges, other times you wouldn’t want to go through what I’ve gone through and I wouldn’t want to go through what you’ve gone through.

But one of the keys we all have on this hero’s journey is that it’s often a reluctant journey, that we’re hesitant to begin, until we’re left with no other option than to begin.

You see it on the TV and in movies all the time, just take any popular film and you’ll see it built in.

At the first they’re not so sure, and then they decide to step up to the challenge and become the man or woman they were ‘destined’ for [Queue dramatic cinematic music]

My reluctant journey this year ahs been these major events

1. One major refurb because our lovely DSS tenant decided to absolutely trash it (We’re up to £18,000 so far, and still another £6,000 to spend)

2. One tenant not paying, not moving out, we’ve got a possession order, and he’s still not moving, so now negotiating with them as they;ve realised they can’t rent anywhere else, plus solicitors on Monday to discuss bailiffs for eviction.

3. One mini HMO (a 4 bed) that we emptied as we’re turning it back in to a normal let – so no rental income on it (£1,500 a month missing as the tenants all move out at different times) and of course, MASSIVE energy bills come through (Up from £232 a month to £471 a month) – a frankly ridiculous amount to pay in energy bills, but I know I’m not alone on that.

So I’m headed back to take a bit more control over the mini HMO and bring that back into nice condition after 18 years as a HMO, so we can get the best price we can (and a new lovely tenant instead of 4)

Plus I’m going to take a look at the major refurb and see what’s left to do, plus I’ll likely visit a few other properties and see what needs doing there.

I’m actually looking forward to getting stuck in once more and feel like I’ve actually accomplished something, rather than just moving pieces around the chessboard and getting everyone else to do the work.

My successes in the past have mostly come from being hands on, and so that needs to happen again, albeit reluctantly at first, rather than just sitting back in Spain and watching from afar.

I think that can only get you so far, and honestly, It’s now time to step up to make 2022 one of our best years yet.

About the Author

Daniel Latto is the owner and Director of The Daniel Latto Group, a Full Service Digital Marketing Agency.

Daniel advises businesses on marketing on Social Media using both Paid and Organic content. His top rated iTunes Podcast; 'The Wealth Creation Show' has hundreds of thousands of listeners around the world.

Daniel originally became Financially Free through property, with a Multi Million Pound Property porftolfio in Leeds.

He now lives in Spain on the shores of the Mediterranean.

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