How we made £400k on a £40k refurbishment during lockdown
One of the mantras we teach on our Property Entrepreneur Programme is that if you are to genuinely achieve significant progress, growth and returns in any space or sector, everything you do needs to be HIGHLY STRATEGIC.
- The strategy you execute needs to be highly strategic.
- The area you invest in needs to be highly strategic.
- Your positioning, pricing and end product needs to be highly strategic.
- The way you communicate, negotiate and event write emails needs to be highly strategic.
This is essential at all times, especially during periods of change and when you commit as much to your strategy as you do your sales. With effective execution, the rest is just a formality.
Speed of Implementation
Introducing another layer to this which will focus your efforts through this period of uncertainty. When change occurs and opportunities present themselves, the first to act will benefit from high margins and low competition.
This what we call your ‘Speed of Implementation’ (SOI) and this will give you the ‘First Mover Advantage’.
During lockdown and the proceeding weeks, we moved our Property Entrepreneur Programme from three workshops a month to three workshops a week. Within these virtual sessions, we provided the breaking news on every opportunity and changing market condition as it was announced.
The first mover advantage here was our 100+ Property Entrepreneur businesses were the first to secure grants whilst others didn’t even know what they were. The first to apply for CIBLS whilst everyone else was still trying to figure it out and the first to secure £millions in Bounce Back Loans when the pressure was high and criteria low. It was the difference between securing £100,000s in liquid capital on never-before-seen terms and rates, or being left in a waiting list, restricted to only one loan per person and/or in the worst case, applying to a bank who didn’t have any money!
The week lockdown was announced, we began our pursuit to execute the fastest Speed of Implementation possible. It resulted in us coming out the other side in one of the strongest positions we have ever been in, acquiring other companies and portfolios in distress and delivering highly lucrative developments_ including a £40,000 refurbishment that made us over £400,000.
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