Eco-HMO's, Sailing & The Power of Visions + Values with Will Lockett of Red Door Homes
The Property Nomads Podcast · Rob Smallbone & Aaron Devoy
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Show Notes
This week, Rob is joined by Will Lockett, who is one of the members of the family business Red Door Homes, who specialise in eco-friendly, co-living spaces. The company has grown a £2.4 million portfolio in one year by using the radical method of approaching business from a different angle.
Will’s powerful story is built upon the principals of family, support, the will to succeed, and discovering the determination and resourcefulness to put a creative slant on the traditional methods of property entrepreneurialism.
Tune in to hear all about Will’s journey by exploring the vision that began his incredible journey, as well as the pillars of wisdom and his future goals that keep him motivated.
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KEY TAKEAWAYS
- Will was part of a prospective Team GB Olympic sailing team, which instilled a thirst for success from an early age. This has shaped Will’s outlook on life and business. He prefers to spend time among those who are equally as competitive, as they encourage his drive to do better.
- Will believes that mentors need to be humble enough to admit that they have made mistakes in the past. The ability to admit when you have made an error, and to be able to demonstrate the ability to pull yourself out of a low moment, are essential in business.
- Property is not an industry of instant-gratification. Most of the time, investments and strategies only pay off in the long-term, rather than dynamically. Becoming a property entrepreneur requires patience.
- Establishing the roles within a business structure is key to ensuring that a business runs at its optimal flow. By allowing each key member to focus more on their strengths, rather than on a wide array of tasks, operations can be streamlined, and problems can be solved in a more efficient way.
- Growth is often exponential. It is wrong to assume that it is constant and steady. Often, growth does not come straight away, and patience is required. If investments do not pay off straight away, then stick with it, because once the rewards begin, they can come thick and fast. It is vital to identify you vision and stick to it.
- Red Door Homes focus specifically upon young professionals, and having been a young professional himself, Will is able to visualise the facilities and amenities he desired during his early days. By identifying his key markets, Will and Red Door Homes can tailor their product and appeal to their chosen demographic.
- Being eco-friendly and adhering to its three core values: social sustainability, environmental sustainability, and attractive design have made Red Door Homes stand out from the rest.
- As important as it is to have your own visions, Will is a fierce proponent of listening to the market itself to determine the best approach. Knowing your area is key to successfully planning your strategy in this regard.
- Article 4 - This is the regulation by where a council removes the permission for a HMO – this means that you will need planning permission to turn a property into an HMO. But in turn, it also means that if you have the planning in place, it can increase the value of the property.
BEST MOMENTS
- “You’ve got to be very fast but understand that the pay-off comes later.”
- “Work on your weaknesses, but make sure you play to your strengths.”
- “Society doesn’t pay generalists very well, but it pays specialists very well.”
- “Once you take that first step, the next step is easy and the step after that is easier.”
- “A journey of a thousand miles starts with one step.”
- “You have to believe to be able to achieve.”
VALUABLE RESOURCES
ABOUT THE GUEST
Will Lockett is one of the members of the family business; Red Door Homes which has grown a £2.4 million portfolio in a year by approaching business from a different angle. Red Door Homes have an inspiring vision, incredible values and really do look to add that personal touch when it comes to property investing.
Contact Will and the team at:
Website : www.red-door-homes.co.uk
Email [email protected]
LinkedIn : https://www.linkedin.com/in/william-lockett-079461111/
Facebook : search William Edwy Lockett or Red Door Homes
ABOUT THE HOST
Rob Smallbone and Matt McSherry, the hosts of The Property Nomads Podcast, are on a global mission to guide your success. Success can happen in many ways, shapes and forms. Think about what success means to you. More properties? More clients? Financial freedom? Time freedom?
Rob & Matt are just two guys who want to make a huge difference to people around the world. They are here to guide your success in property, business and life and to inspire you to achieve your goals, dreams and visions. They’ve travelled, explored, and invested. And they’re not planning on stopping these activities anytime soon.
Buckle up, sit tight and enjoy the ride that is life.
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