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Property investment, to some, represents a means to make money quickly. However, investing capital is something to be done wisely. Jack Smith, 24, has flipped properties since he was 18 and shares his knowledge on his Youtube and Instagram accounts.
When asked whether flipping a house is made to look easier than it is, he said: “100 percent.”
Jack, who runs Find My Houses, claimed training courses could lure potential property investors into a false sense of security, as well as not providing bang for their buck.
Find My Houses links potential property investors up with homes to invest in and Jack also offers to manage the renovation for an additional fee.
Jack, who revently advised on how to spot a house that is a good investment, adds training programmes and mentorship programmes can be very good, especially for people wanting to increase their knowledge exponentially quickly, he says it is important to research before signing up to a course.
Jack said: “You just have to be careful who to go to.
“Do your due diligence on that person and make sure that they do what they teach.”
The property expert knows many people who have learned a lot from courses and done well using the knowledge from them.
However, Jack took part in some courses himself but didn’t feel they were worth the money.
“I went to some training courses, spent some money on education,” he said.
“Personally, I felt like I’d lost money on education because these training courses aren’t always what they say they are.”
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Jack said: “Especially now, people make a lot of money from these training companies or mentorship programmes.
“If you’re going to sell something like that for £10k, you’re going to have to make it look pretty easy.
“Especially for someone to part with ten grand to learn from you.
“Courses can be pitched as ‘we know something the rest of you don’t’. It’s not actually true.
“Sometimes you can learn a lot from having a mentor or going to training programmes, especially if you are just getting started and you need some base-level knowledge.
“I’ve learned most of what I do from contacting people, speaking to people in the industry, but most of it is just doing it – it’s trial and error.”
He advised that mindset is key to success.
Jack said: “If something goes wrong don’t see it as a failure, I see it as a lesson.
“I think going to those training courses and feeling like I lost money, pushed me to explore other avenues of learning about it.”
Jack also detailed a builder mistake when it comes to renovating property.
He said: “Find a quality builder based on recommendations from people you know who have used builders in the past.”
While it can be cheaper to employ separate tradespeople, Jack recommends against this, especially for house flippers with less experience.
He said: “I get the main contractor in, instead of going to find and manage separate tradespeople for each individual job (electricians, plumbers etc).”
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