What My Barber’s Hard Luck Story Can Teach You About Property Investment

“I was virtually broke, I took on too much. I wanted to build a portfolio of properties. The problem was it took too much of my time to manage it all.”

Dave, my barber, was telling this as I was having a haircut. This was the first time in 12 months of me going to this barbers that he had mentioned anything about property.

Normally he only asked where I was going for my holidays. I asked him if this had put him off investing in property. His answer was no.

“I learnt a lot from that experience,” he said. “Driving up and down motorways after a long day at the shop wasn’t going to get me anywhere. I did it for ten years.

I was always dealing with things like broken boilers or I was plastering walls on my days off. I’m getting too old for all that and I realised this was never going to make me rich.”

“So what did you do?” I said. “I decided to sell them.” He replied.

“Too bad Dave” I said. “But I thought you said it didn’t put you off property.”

Surely the last thing any property investor does is sell off his investments I thought.

He picked up the clippers. “The usual short back and sides.” I said.

“I left the property business behind for a while but I still had the shop,” he told me. “Then came the recession and I couldn’t rely only on the income from the shop. The problem was I couldn’t risk leaving it.

I know it sounds daft, but at the time I wanted to find a way to make money in property without ever having to leave the shop.

I needed the kind of investment where I could organise everything with a few phone calls. The shop is my bread and butter. I want property to earn me what I need for a comfortable retirement.”

“So did you find it?” I asked.

I almost didn’t want to hear the answer. It sounded like this guy had been through some hard times and I was feeling like a therapist. “Yes I did” he said.

“I’m finally retiring next year.”

At this point I was pleased that he had managed to turn things around, then I wondered how.

“I only invest in hands free property now. I like to know my investments are being managed for me rather than me doing all the chasing around. It’s so much easier for me that way.”

“I’m pleased for you Dave, well done!” The truth is, I had already guessed the barber’s secret to a comfortable retirement.

What’s your property investment secret? Please leave your thoughts below, it would be great to hear them.

Kind regards

Loxley McKenzie
Managing Director

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