Growing a Profitable Property Business: The Mindset Changes Needed to Take You from Investor to Business OwnerIn May last year, I wrote an article for Blue Bricks on how to transition from being a ‘property professional’ to running a profitable property business.A year later, I thought it was important to revisit this topic and discuss how this transformation goes beyond simply implementing systems or drafting a business plan. It begins with a shift in mindset—mindset changes that take you from thinking like an investor to thinking like a business owner.So, when I was asked to feature in the magazine again, I was happy to be interviewed on this topic. Below is our Q&A, including key takeaways that I hope will help you in your property business. These include mindset shifts and things you need to focus on if you want to think like a business owner.
Question: "Hayley, tell us a little bit about yourself. Where are you today, and when did you start investing?"
I'm the CEO of several companies, a residential and commercial portfolio landlord, and I’ve been investing since 2002. I don’t focus on one strategy, and my portfolio consists of everything from buy-to-lets (BTLs) to serviced accommodation (SA), houses in multiple occupation (HMOs), and commercial properties such as schools, bars, restaurants, and offices. I specialize in listed buildings and have found a new strategy in pay-and-display car parks (which is fast becoming a favourite). When people ask me what I focus on, my reply is, “Whatever makes me money.” I’m very flexible and spread my risk across different areas and strategies.
Outside of my portfolio, I’m a global property mentor, a regular property expert on SKY TV, and an Angel Investor on the hit SKY TV program Property Elevator. I’m passionate about empowering women, which is why we set up Hard Hats to Heels, a female property and business networking group.
Beyond that, I own an estate and lettings agency alongside a sourcing division with 42 agents UK-wide, a construction company, and I invest in small start-ups. I’ve been named one of the UK's most inspirational female entrepreneurs, and I’m a trustee of three Historic Building Trusts. I am a governor, chair, and trustee across different entities and academies.I teach and inspire children aged 16-19 years and regularly give school talks across the West Midlands.Last (but not least), I’m a guest speaker at industry-leading summits and networking groups. I have written several articles for magazines such as Blue Bricks (front cover girl), and I’m a proud judge of The Blue Bricks Awards and The Property Investor Awards, among several other smaller awards.
I absolutely love the industry we are in, and property and business are passions of mine.
Question: "What was the biggest mindset shift you had when your portfolio reached a size where it became its own business, rather than something you could manage on the side?"My husband and I invested in buy-to-lets alongside our jobs for a number of years. However, we got to a point where we realized we were asset-rich and cash-flow-poor. This was when we decided to get educated, so we did Robert Kiyosaki’s Rich Dad Poor Dad USA mentorship program and learned all the fundamentals—we never looked back.
Once we understood the power of leverage and using other people’s time and money, we scaled quickly and did 15 HMOs within our first year. That’s when the biggest mindset shift came. It was then I realized that I could no longer do everything myself.
Across my property portfolio, and multiple other businesses, I’ve had to learn how to create effective teams. I’ve had to develop skills to inspire, motivate, guide, and support individuals while bringing them together.
I would say the key skills that contribute to great leadership are communication, emotional intelligence, the ability to assess situations, weigh options, and make decisions—even under pressure—along with inspiring and motivating others, and a knack for problem-solving, because, let’s face it, challenges will always arise. The key to success is to adapt, change, and pivot quickly.
Lastly, and above all, integrity is the most important value a leader can have.
Question: "One thing that almost every business coach or mentor talks about is managing cash flow. If you’re unfamiliar with how to do that, it can become tricky. How can property investors get a hold on this, and how often should they be checking their profit and loss (P&L)?"
Managing cash flow as a business owner is a bit like juggling—except instead of balls, you’re juggling payroll, rent, maintenance costs, insurance, materials, marketing, taxes, professional fees, and more.
Part of being a business owner includes keeping a close eye on your cash flow by tracking every penny that comes in and goes out. It’s all about making sure there’s enough in the pot for both planned expenses and the occasional curveball.
As for P&Ls, think of them like your financial check-ups. I’d say a quarterly analysis is a good baseline, but if you’re really hands-on (or just love spreadsheets), monthly is even better.When I look at a P&L, I’m on the lookout for any unexpected spikes in costs or drops in income because if something’s off, it’s better to catch it early before it snowballs. And remember, if the numbers don’t add up, it’s not the P&L that’s wrong—it’s probably time to dig deeper!
Finally, budgeting is key. Set budgets and monitor them monthly to ensure you’re not overspending (it’s easily done). Always keep a healthy cash reserve.
Question: "As you start to scale, and you have too much to juggle, how do you keep a constant pipeline of investment opportunities?"
Just as a business owner keeps a constant pipeline of clients, you need a consistent flow of potential property deals. Until contracts are exchanged, there’s no security in buying a property—deals can fall through at the last moment. Conversely, you might spend weeks scrolling through property portals without finding a suitable investment. That’s why maintaining a steady pipeline of opportunities is crucial.
Keeping a flowing pipeline is like fishing: you have to keep casting your line in different spots to see what bites, and patience is key. I stay in the loop by maintaining close ties with my network. Most of the deals and business I do come from the relationships I’ve built over two decades. A good reputation doesn’t hurt either; people often send opportunities my way because they know I’m reliable and easy to work with.
Honestly, half the battle is persistence—the more you put yourself out there, the more likely you are to reel in something worthwhile.
Question: "Lots of business owners talk about conflict and conflict management. How do you deal with conflict in your businesses/property portfolio?"Conflict is inevitable. Whether it’s a conflict with a difficult tenant (or tenants in an HMO) or a letting agent who isn’t fulfilling their promise, at some point a difficult conversation becomes inevitable.
I listen to everyone’s side of the story. It’s amazing what you can learn when you listen! And ultimately, I aim to find a solution that works for all involved. If a compromise isn’t in the cards, I make sure any decision I make is fair.
I joke in saying many people think I’m a bit stern (aka a b*tch), and honestly, I probably am, but above all, I’m professional, I listen, and I’m extremely fair.
If you were to ask people what stands out most about me, they often say, “stern, but the fairest person I know.” I’m proud of that! We have two ears and one mouth for a reason—listening is an important life skill, and it’s key to remember that every action has a reaction, and managing that rule is paramount.
At the end of the day, the goal is always to keep relationships strong and not let small issues turn into big problems. So, my best advice would be to deal with conflict head-on and not avoid it or let it escalate! Running a business/team will require you to deal with conflict, so you’d best get comfortable with being uncomfortable.
Best of Luck in BusinessThese are just a few examples of the lessons I’ve learned as I’ve grown personally and professionally. I hope that sharing them with you helps in your journey.If I can help you with anything, whether it’s property, business, or mindset, then connect with me using the details below.
Website: Instagram: haykey_talks_property247LinkedIn: Hayley Andrews
