Importance of the 5 Fs with Fredrik Sandvall
Managing Director of FundX, Fredrik Sandvall has amassed a wealth of property knowledge, from doing property management in multiple countries to property investing.
Fredrik joins me in this episode to share his insights. We discuss:
- His five-step formula for property investing
- Top 4 things people struggle with the most in property
- Things you should consider before considering a joint venture
In this episode we discuss:
00:52 Introduction to Fredrik Sandvall
02:24 Fredrik’s current focus
03:39 Fredrik’s property journey
- Property management in multiple countries [04:28]
- Turning well-priced properties into HMOs with his brother [05:26]
06:28 Top 4 things people struggle with the most in property
- The biggest thing most people get wrong about property [06:45]
- Doing the legwork [08:03]
- Property appraisal [08:33]
- Funding [08:50]
10:17 Qualifying the deal — “Ask the tough questions.”
15:14 Fredrik’s principal guiding factor in property
- Five-step formula for property investing [15:44]
- How Fredrik sees value that other people can’t see [18:39]
21:37 Fredrik’s current property goals
23:00 Fredrik’s biggest failure in property so far
25:21 Things you should do before considering a joint venture
32:24 Fredrik on delegation and habits that have helped him achieve success
35:46 How Fredrik maintains laser-like focus
37:33 Fredrik on improving emotional intelligence
Quick Juice Questions
39:47 What do you look for in a property investment, and why?
“Cash flow. […] if it doesn’t have cash flow, you’ll be stuck sooner or later.”
39:54 Where should someone start if they are new to property?
“Find someone who’s doing what you want to do and do it with them.”
40:55 What most inspires you? When and where are you most inspired?
“Nature. Creative, fun people.”
41:17 Which book has inspired you and changed your thinking the most?
“Rich Dad Poor Dad.”
42:05 If there’s one last bit of Executive Juice you can share for people who want to get to the top of their property game, what would it be?
“Find someone else who’s doing what you want to do and do it with them. Or at the very least, learn from them.
You can have mentors whom you don’t even see, but why not dare to pick up the phone and ask them, “Would you mind to meet me?” And before you pick up the phone, what’s in it for them?”
On property education
- “The biggest thing that most people get wrong is the knowledge side of things.”
- “Everyone can in theory buy a house. But, to buy the right house, that’s a very different story.”
- “Dare to ask people for funding, but also to do that in a professional way means you are way more likely to raise any money from other people.”
- “Whether you have money or not, you will run out of money quite quick when you start to buy properties.”
- “Often, the good salespeople are not the ones we think about when we hear the name “sales”. It’s the people who are relaxed, who look for an understanding, who look for solutions to make this a win-win.”
On joint venture
- [on funding] “Don’t allow your cost of money become too much. Sometimes, a joint venture is absolutely not what serves you best. Sometimes, to work harder to get relatively cheap money will be way better for you in the long haul.”
- “It’s easier to break up from your spouse than it is to try to break up a joint venture. So, qualify, get to know people early on and over time before you do your first deal.”
- “Many people would like to have control. But, ultimately, if you want to have control, you have to do everything yourself.”
- “Delegate, otherwise the property journey will be your jail.”
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