Being risk averse in property
Is there a problem with being risk averse in property investment? In this episode of Winners on a Wednesday, you'll meet Ben, Samuel's brother-in-law. The eagle-eyed among you may have seen him in a recent Property Investors Podcast. Ben began his property journey as a very private individual who liked to keep his cards close to his chest. Fortunately for you, he is beginning to be more vocal about his ventures so you can learn. Many property investors are more secretive as they are doing big deals and are afraid of losing them. Ben is involved in multi-million pound projects and, just like Samuel, he's going to share his insights.
Finding the Balance
Ben first got interested in property investment by watching Samuel's success unfold before him. Having known each other for 6 years, the respect has been built and they both bring immense value to the table. With his concrete professionalism and experience as a chartered surveyor, Ben contributes tremendously in terms of construction, cost management and other key aspects. Meanwhile, Samuel has brought the entrepreneurial side out of him by teaching strategies, showing him the ropes and instilling him with spirit to explore.
You see, Ben was (and still is) naturally risk-averse. He kept putting off the idea of starting his own business until one day Samuel said it's entirely safe. He explained that he'd simply be doing the same thing he does at work, except it'll be for himself. Many people grow up with risk as the priority, a trait often inherited from concerned parents. However, to win big in property, you need to balance that with action, stepping up and taking on challenges. That entrepreneurship factor must be in the ingredients of your personality.
If you feel like you are too risk-averse, or on the other hand, too carefree – maybe you need a JV partner. You could benefit from a Ben or a Samuel on your team.
