What snooker taught me about property investing
The key is to ‘pot all the balls’ but you must use a calculated strategy to do so
On the ball: the key to winning at snooker is not just by potting a single ball but thinking in advance about where the cue ball is going to end up after the pot
I have a friend, a long-standing landlord of much experience, who once gravely pronounced to me that the key to success as a buy-to-let landlord was simply to “stay let”. He meant that the important thing when owning investment property was to minimise void periods and ensure a rental stream was constantly rolling in.
As it goes, that is of course true, but it does not really tell you much about how to succeed as a landlord. It’s rather like telling someone who is a novice snooker player that the way to succeed at the game is to “pot all the balls”, yet gives little clue as to how you go about this.