Series 7: Full Time in Property with Damien Fogg

Automatic TRANSCRIPT

Voice podcast. My name is really Brown and as always it's a pleasure to have you join me again on the show today. Well we're I. Don't know how many more of these we're going to do. In this series of going fulltime your property couple weeks yet. Who knows but some today I'm very pleased to invite back to the show Damian fog. Many of you remember Damian. If you've listened to the podcast for awhile, these join him more the one occasion. Of course we know each other pretty well. Already miss him and he's having back. We're still buddies so It's always good to catch up and have a bit of a share, so we did that. Obviously, who via video link a lot of fun I think you're GonNa enjoy what is going to say about his particular journey about going fulltime prophecy right now Damien. You. Very well, thank you very well. See a lot of you lately of sea hard to get away from. The say again, actually, because obviously, we a more time together the last few years starting. In very recent times we will. Find out about what you've been doing, but you missed. Of course yeah, because mistakes looked good on. Your on member, for example Ryan Right. TRAYVON's on some random table mats in Canada, Toronto's thrown say. Please leave mapping out a business with. Maybe, that's mason lookout quite would be. Law Fund. We've done other good signs. To catch up with you even though it's. Those listening and You know it's all about who you are. Damian folk. Thanks for joining us today from cigarettes podcast. This you've been on before, so if you're a regular listener coast, you've probably heard that. Once or twice over the is coming, soul could. Freeze wisdom but. I think today talking about going fulltime prophecies policies that were in the middle of. Feeling. You might have some decide about. I've done it so I. Guess I'm at least qualify to pay? And that's why invited you. So why don't we do this? Point is I'm GONNA show up a bit and just say. What you just take us back to some time before full-time before property. You don't have to go to. The. She really wants. But just what? What would you anybody? Or launch line. If will getting into getting so What did you do? So i. go into proxy quite early. When I was a grown-up book, initially I, my first degree in business and finance, and so by spent full-time trading day, trading stuff, but more than the equities on courtesy side of things, and did quite well. If that mostly through look if I'm being honest. And because of the volatility involved with these things it's also did lead me. Towards will like a more stable asset base as excitement degree was in finance are kind of. The investing options out the and I was A. Financial Adviser while so I'm you all of my from asset options? Was Quite heavily leverage overweight in one specific type, and so I knew. That I wanted to get to all of the long term stable benfits. was something I started to drift across towards, and initially yet is all the mistakes you can possibly make. What's Serafini programs like I could definitely do not become full improperly. Full of Planning Nubile in the worst possible locations and all of the great stuff, so you have to make a complete big zero. Bulls. kind of like it. Kinda got into because the type of personality I am I wanted to make sure fucking. DO WE'RE GONNA? Be Good at it, and so then when our became Johnson as a building society I'm not letting all whole for the development side of my career, and then did that full representative from companies agencies the government quite. A love experience doing that the whole time still lose trading still don't equities focusing more on property and then after. Many years. Eleven years maybe twelve years. Of what stops. I was able to retire effectively thirty. I live made from my vestments, the majority of which points so on then from there F- is just polls for breath. So we'll scrape thanks. Her law down. The the. Look less board until in Richard. Natural Baggies. Going natural looking face. That's not very good. Is it for video? Should have gone. So okay. The struck me. Was You talked about you personality and the fact that you go qualified? That seems to be consistent. He did you degree. You've got the qualification you talk about of written down charted vs for some reason, but I think that means. Bitterly roots. Survive so. You you make a point about you wanted to do reading what you're doing and those are getting academically. Professionally qualified. Seems to be a big deal. So how do you know what made you decide to do? The difference today may actually. You, said that you stepped into property. Might some states but you being humble nothing? Certainly beyond the first few investments from Wino- you. Yeah I think fiscal in finance. Annette let me tools investing saws from do this. I wanted a mall so easiest whites David is who the professionals in the industry that tell people what to will, and will thing, though, and so the same property I started to get into Fox. have been doing it for probably four or five years that the nothing spectacular binds of off plan stuff than started multiples the Victorian to two down terraces, so I'm starting to learn a little bit and I decided to go into fulltime, not full-time property. Decided practice, going to be my thing and saucy-looking full a letting agency states agency, and all of the transactions involved in. It was always you know vendors, people line solicitors blah blah blah, and at some point the severity come along and going to be who survey, said this that must be. Both residential valuations I knew time. What they say is just law, and if there was a big problem with the property being sold listen to of them, we need to survey. Denver falls and so kind of went through this big. Ethos Smith around. Will sedans just everything to with property? Why won't be one of them as? An office eight. My timing was immaculate, so I went and did my master's degree finished my master's degree. Just as the property market collapsed, and so no one was taken anybody else. Changed all the rules around valuation surveys. I've done my training to become a looser on the basis of. They're the ones that know how buildings of bills. And you can also do valuation at the same time I wanted to be evaluation of I. Woke Up. This one is out of. So I had a whole five year plan sets up completely went to pop the net unless you've been specifically trading full resents evaluation. Yukon, do. Box so ended up doing more of the buildings. Their stuff still included residential treatment. I couldn't go the roots I wanted to and Soviet. Thought points. I ended up working for the Ministry of Defence of all random people, because they want the biggest landholders buildings in the country. So I worked full. It was defence estates at the time. Unintended Defence Infrastructure Organisation. Because it's the government, they will still employing novel. Think the only best in my graduating it to get a job with the end of it, so that was helpful. Thank you know floor responsibility of put that you gave me the gym states manage. To in yet, but yeah, just look after all these presidential Rossi's Florida. It was thrown into the deep end was an awful lot a great place to learn. And so yep. Mentality of who the people who the group of people that know the most about this particular industry now who teaches that multiday led to be able to do that? I'll go and do that. Then 'cause I figure. I'm that in the same position of if I ever go to a survey inability as they wanNA renowned fee, says Oh. This crock means outlined. It means this because I'm outside of this. You forgot to look this book hockey with them. Often. On the same with financial ours is they would. You should split your assets across this not. And, if I can use their own information against. Makes me laugh if nothing else. Presumably provides opportunities as well. That was the biggest thing accelerates by career. As it were in prophecy for myself, it would be able to buy stuff on the value of the needed work into it by stuff. The other people didn't WanNa talk because. In higher problems, and that would the mass vast majority people off, and so I picked up some really weird wonderful stuff for while book. It kind of what did my fav- allowed me to grow up folio quite quickly. Gives. You. Now. It's just going to give us an example of a wonderful. So. Don't one place in Cambridge and it was basically a mortgage -able because was no internals bathroom. They ads, but it wasn't connected to the strength Unleash the. Is is by through. The Borderland already kitchen, and so it was a mortgage will, and so because of general have parts of the game of quite expensive. They could about three hundred case. I managed to effectively do. Just unagreed delayed completion on it. Kicked a giant hold in the wall outside to the bathroom, they got Scott Bathroom now, and it's connected to the house, so it's tunnel the mortgage flex yet.

Coming up next