In this episode of the Keep the Change podcast, Tama Singh talks about taking the leap from working full-time to focusing on property flipping full-time. With over 59 flips under his belt, Tama shares the highs and lows of this life-altering decision and the strategies he uses to thrive in New Zealand’s property market.
The Decision to Quit a Full-Time Job
Tama’s story of leaving his full-time job is both inspiring and insightful for anyone considering property investment as a career. He shares how, after balancing a day job with flipping properties on the side, he realized that to grow his business and focus on mentoring and coaching, he needed to commit fully to his property ventures. Quitting his job in July allowed him to run his largest seminar to date, with over 105 attendees, and launch a successful mentorship program.
The Challenges of Going All-In
Stepping away from the security of a full-time income isn’t without its challenges. Tama emphasizes the importance of having a plan, including the financial and emotional aspects of making this leap. He recalls the initial administrative and logistical headaches, such as dealing with lawyers, accountants, and documentation for each property flip. Managing invoices, payments, and records for dozens of projects can be overwhelming, making it essential to have a strong administrative system in place.
Additionally, Tama discusses the personal challenges, including balancing family life and staying productive while working from home. With a young daughter and a partner at home, he admits that it took careful planning to create a distraction-free environment to run his growing business.
Building a Property Business
For Tama, the decision to go full-time into property wasn’t just about making enough money to quit his job; it was about creating a better life for his family. He shares how his goal of helping his mother retire from her job at a bakery was a significant motivator. By building a property flipping business, he was able to provide financial security for his family while pursuing his passion.
He explains that property flipping isn’t just about renovating houses; it’s about running a business. From finding deals to managing contractors and staying on top of legal and financial regulations, there’s much more to property investing than meets the eye.
Property Mentorship and Seminars
After going full-time, Tama also expanded his focus to helping others achieve success in the property market. His mentorship program, priced at $20,000, has helped many individuals avoid costly mistakes and make smarter property investments. He emphasizes the value of learning from someone with real-world experience, especially in a complex market like New Zealand’s.
Tama also offers seminars and webinars that give attendees the tools they need to navigate the world of property flipping. With prices clearly stated upfront, his seminars offer transparency and accessibility, attracting hundreds of budding investors.
The Importance of Strategy
Throughout the podcast, Tama reinforces that property investment is not based on luck. It requires careful planning, research, and understanding of the market. He shares stories from his mentees who have successfully bought properties well below market value, renovated them, and turned significant profits. However, he also warns against overcapitalizing or rushing into deals without doing due diligence.
Investing in the Right Tools
One of the key tools that has helped Tama streamline his business is the creation of InvestorPro, a mobile app designed for property investors. The app helps users calculate potential profits, manage renovation costs, and even store important documents like purchase agreements and valuations. The platform is also designed to help property investors connect and collaborate with others on joint ventures.
The app is available for just $19 per month and is already making waves in New Zealand’s property investment community.
Conclusion: Is It Worth Quitting Your Job for Property?
Tama’s journey from a full-time job to property flipping success highlights the challenges and rewards of making such a bold move. For those considering a similar path, it’s essential to have the right knowledge, tools, and support systems in place. With proper planning and a clear strategy, investing in property full-time can offer financial freedom and personal satisfaction.
