The ’set and forget’ strategy for managing your new build property

It has taken a while but I finally have clearly identified my overriding philosophy for building a new build property portfolio. For me the reasons why I do property are clear; it gives me lifestyle options and let’s me help others to achieve the same.

Pinning down the overriding philosophy that I build my portfolio too, a philosophy that pervades everything I do, has been a 10 year quest but I recently realized that the answer has been right in front of me for so long. It can be summed up in 3 words

Set and forget.

Set & forget is more than just a strategy for your new build portfolio, or a way you set up each of your properties. It is far more than a term I came up with because my marketing hat says you need to capture a buzz word.

Set & Forget is the philosophy, it is present in every transaction, in every strategy, in fact it is perhaps the most important thing I do. Without Set & Forget I would be simply working an extra well paid job.

Set & Forget as a philosophy is quite simply everything – every little thing I do that has anything to do with property is set it up in such a way that I can forget it for a full 2 years, then l simply set it up again so l can forget it for another 2 years.

The reasons for this are simple: firstly, the biggest assumption we make in property is that it will double every 7-10 years. So if we Set and Forget 4 or 5 times our property will have doubled in value. Secondly, the other and more important reason is that I have better things to do with my time than spend it on my portfolio. I often laugh at how simple my portfolio is to manage with Set & Forget.

Here are some practical examples of what I mean when I say “Set & Forget”…

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