How to Start Investing in Property
The Progressive Property Podcast · Kevin McDonnell
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Show Notes
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Lisa O’Reilly, previously a chartered accountant, joins Kev in this episode to talk about her journey into property investing, particularly in the Irish market.
KEY TAKEAWAYS
- Lisa followed her sister’s footsteps into the world of accountancy but the opportunity came to purchase an investment property and after a stressful time at work, she decided she wanted to live a different life and go into property investing full-time.
- It doesn’t matter what job you are in or what background you have, anyone can become a property investor.
- Previously Lisa thought that you needed to follow a set path to become successful in life but this has been debunked by meeting and seeing the success people have in property investing.
- Lisa found Progressive after doing some online training with Simon Zutshi (Property Magic Podcast) realising she needed Kev’s expertise to build on her existing knowledge.
- She attended MSOPI and began using creative property techniques to build her Irish property portfolio, including lease options and raising investor finance.
- There is good debt and bad debt, using debt to acquire an asset that will continually generate income for you, such as property, is good debt.
- Do your homework, numbers do not lie. Lisa believes this is the first rule of property investing.
BEST MOMENTS
“I’m an accountant I should know this stuff, yet I was about to sell the only asset I had”
“The biggest thing, is you have to take action”
“You’re providing a solution that can beat inflation”
"Good debt is the debt you use to acquire an asset that will continually generate income"
VALUABLE RESOURCES
MSOPI – Multiple Streams of Income:
https://www.progressiveproperty.co.uk
ABOUT THE HOST
Kevin McDonnell is a Speaker, Author, Mentor & Professional Property Investor. He is an expert when it comes to creative property investment strategies. His book No Money Down: Property Invest talks about how to control and cash flow other people’s property to create financial freedom.
CONTACT METHOD
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