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The Property Podcast

TPP382: 7 lessons we learned from a billionaire investor

The Property Podcast

Rob Bence & Rob Dix

Education, Business News, Business, News, Investing

4.82K Ratings

🗓️ 9 July 2020

⏱️ 23 minutes

🧾️ Download transcript

Summary

The Robs have another special guest this week. This time it’s billionaire investor Stephen Schwarzman. Sadly, he’s too much of a big wig to actually be on the show so The Robs are going to be picking apart his book instead. You might never have heard of Stephen Schwarzman before, but after this podcast episode it’s certain to be a name you’ll remember.  After reading his book, Rob & Rob found that there are seven lessons that we can all learn from him.  Now, you might be thinking ‘how can I possibly relate to a billionaire investor when I’m just starting out?’ Well don’t worry, we promise that these seven lessons will be invaluable to you no matter what stage of your property journey you’re at. Here’s the seven lessons Stephen will be sharing with us: Failure is the best teacher in an organization The best executives are made, not born Identify problems and bring solutions How to raise money It's the same effort to work on a big thing as a small thing Group decision making Building a team of 10s There’s plenty to learn from today’s episode and it’s even a learning curve for Rob & Rob, so hopefully there will be a number of takeaways for you too.    In the news this week we’ve got a big headline for you, ‘PM pledges biggest planning shake-up since WW2’. Like usual, it’s a headline that’s been blown out of proportion, however if you are a developer or you build properties then this could be good news for you.  According to this article from Mortgage Strategy there are now going to be more things that you can do without having to acquire planning permission. Included in it are converting commercial premises to residential, demolishing an old home to replace it with a new one and if you want to extend or add floors there’s going to be a fast track method for that. So again not quite as drastic but certainly good news for some.    Naturally this week’s Hub Extra is the book that we’ve just dedicated this podcast episode to, What it Takes by Stephen Schwarzman. If you have any interest in business or investing then this is a book that you’ll enjoy, and there’s plenty more lessons that you’ll learn from it.   We’d love to hear what you think of this week’s Property Podcast over on Facebook, Twitter or Instagram. You might even have a topic you’d like us to cover in the future - if so, pop us a message on social and we’ll see what we can do. Make sure you’ve liked and subscribed to our YouTube channel where we upload new content every week!  If that wasn’t enough, you can also join our friendly property community on the Property Hub forum. See omnystudio.com/listener for privacy information.

Transcript

Click on a timestamp to play from that location

0:00.0

Now for hundreds of episodes Rob and I have drawn upon our own experiences but we thought we'd level up this week

0:09.4

This week we're going to take lessons from a billionaire investor.

0:13.1

Okay, we've leveled up quite a bit, but because of that, the lessons are invaluable. Welcome to the Property Podcast where every Thursday property investors come to be informed and inspired.

0:29.0

In this week's episode we're taking lessons from one of the biggest investors, one of the biggest

0:33.5

companies in the entire world and you might think well how's that going to be

0:36.5

applicable to me just trying to do my first bite to let or in the middle of this

0:40.0

little flip well you would be surprised because there's plenty in here that you can use

0:44.4

to make yourself a better property investor and to get ahead in life in general.

0:49.1

A big news story for you this week at least it seems so from the headline which reads PM

0:53.6

pledges biggest planning shake-up since World War II. This sounds like it's going to

0:58.6

mean up quite a big thing for the world of property Rob. Well like with many such announcements the detail is a

1:03.8

bit thin on the ground so we don't really know how big this is going to be.

1:07.2

What do you mean there's no detail Rob? Boris said he wants to build build

1:10.5

build isn't that enough? Well yeah that, that's it, so we're all going to build, and that's the end of it.

1:16.6

But if you are a builder or you have an eye on doing developments, that's your angle on property,

1:21.8

then this is good news for you because there are going to be

1:24.4

more things that you can do without requiring planning permission. So included in there is

1:29.5

converting commercial premises to residential. There's going to be more commercial premises that you can now

1:33.9

convert without needing planning. If you want to demolish an old building and replace it with new homes,

1:38.4

you're not going to need planning permission. If you want to extend or add extra floors,

1:42.4

there's going to be a fast track process apparently to do that.

1:45.7

And the general idea is to get more building happening and make it easier to do that on Brownfield sites,

...

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