Welcome!

This is an email I send to keep in touch with people and share a bit about what I'm doing and thinking about.

This month, I'm:

• Being distant
• Remembering what works
• Inventing a new soft drink

You're receiving this monthly email because you signed up for it at robdix.com, or you opted in after reading my book The Price Of Money, or I added you manually because we've spoken one-to-one.

If you don't enjoy it, feel free to unsubscribe at the bottom – I won't be notified and I'll never even know!

🏡 Moving along the property spectrum

The other day my property PA patched me into a call with an insurance broker. To verify who I was, they asked me for a property's address – which led to me frantically playing for time while trying to find it deep in Google Drive, and not sounding suspicious.

And it made me realise: the way I think about property today would've been totally alien to the Rob of 15 years ago.

I've come to see property investment as existing on a spectrum – with "property as a home" (emotional, personal) at one end and "property as an asset" (calculating, distanced) at the other.

I started, as most people do, firmly at the "home" end of the spectrum. My focus when buying was: Would I like this layout? What's the view from the bedroom window like? Should I get rid of this textured wallpaper or paint over it?

I'd visit multiple times before buying, go in myself to tidy it up and get it ready to rent, and build a relationship with my tenants.

And I knew the addresses – including postcodes – of all my properties off by heart. Handy for not sounding massively suspicious on calls.

Over time, I've drifted to the "asset" end of the spectrum. Now I think about: Do I believe in the growth prospects of the area? Is this likely to be low hassle during the holding period? How likely is this to induce a bidding war when I sell?

I couldn't be more detached, and I haven't even visited most of the properties I own.

Does that sound soulless? Maybe it is: I am at the extreme end of the spectrum, and not everyone will want to go that far. But I think it's worth thinking about what you ultimately want: do you want to own a property or two and look after them as a semi-hobby, or build up a portfolio of pure assets?

There's no right or wrong, and of course you can change your mind. But you'll make better early decisions if you're guided by a clear idea of where you want to end up.

I finally spotted my book in an airport WH Smith.

🤷🏻‍♂️ How about you... just do what works?

I swear I need a coach who does nothing but say: "Remember that thing you did once that worked really well? How about you do it again?"

Example 1: I spent a few months tracking my time religiously. So many benefits: it got me mono-tasking, cut down on procrastination, and helped me identify low-level tasks that sucked up too much time.

Then I stopped. Why? Dunno.

Example 2: At Property Hub we used to run webinars to help people in our broader audience find out about the paid service we offer. It was educational, and it brought in leads without anyone feeling they were being pitched.

Then we stopped. Why? No clue.

I have a million more examples. It's baffling that not only do I know what should work – I know from experience what does work... yet I still stop doing it for some reason, and need to be reminded.

From marvelling at this with a few people, it seems like this isn't just me. Which is powerful, because it means if you're looking for an idea you probably don't need to come up with a brilliant new one... you just need to remember an old one.

My wife and I went to a coffee tasting workshop, which was super interesting and helpful for decoding those labels that say "Unwashed – Blueberry, cut grass and zebra spit".

🥤 Make your own wings

Enjoy drinking Red Bull? Wish you could make it at home for cheaper?

No? Never? Indulge me and pretend you did, because I've cracked the code:

1: Pick up "Effervescent Energy Tablets" by Science Fitness on Amazon

2: Add 2 tablets to half a glass of sparkling water

Tastes 80% the same as Red Bull for a cost of about 40p

You're welcome.

🔗 Odds and ends

• I mentioned last month that public speaking comes more naturally to me than talking one-one-one – but I know from your replies that I’m in an extreme minority. Someone I’ve enjoyed following on LinkedIn on this subject is Nausheen Chen, who specialises in coaching entrepreneurs to speak with authority. She’s worth a follow, and you can also check out her free email course.

• My wife put me onto the podcast The Rest Is Entertainment, with Richard Osman and Marina Hyde – which is great because they know their subject inside-out. Their best episodes are the Q&A ones, where they reveal behind-the-scenes things you've all wondered about – like how quiz shows avoid paying out too much in prize money, and how much someone gets paid to wear a dress to the Oscars ceremony.

• My friend Kyle has gone viral on TikTok by explaining his framework for prompting ChatGPT to get the best results. You can learn it in less than 5 minutes here (although there's no dancing – I've told him to fix this for next time).

That’s it for now! Feel free to write back and let me know what you've been up to.

Cheers!

Rob

p.s. You can also follow me on Twitter or Instagram.