Episode 163 – The Bounce Back Story of Daniel Moses Part 1
A lot of business owners have felt the effects of the lockdown due to the COVID-19 Pandemic, and Daniel Moses is not any different. However, Dan’s relentlessness and courage help him bounce back with the challenges he is facing. In this episode, Ross Temple talks with Daniel Moses of the Bounce Back Series about how Daniel was able to get up and overcome the challenges he faced at the beginning of the lockdown.
Show Highlights:
- How Daniel Moses was able to create a cash flow for his Real Estate business without owning a single property
- What Daniel Moses had to do in order to overcome his lack of public speaking
- The reason why Adam Stott, Ross Temple, and the Big Business Events created the Bounce Back Series
- How Daniel Moses faced his £180,000 debt at the beginning of the COVID-19 Pandemic
- How Daniel Moses’ conversation with Ross temple changed everything for him
Links Mentioned:
Big Business Events Members Network
Transcript:
Please note this is a verbatim transcription from the original audio and therefore may include some minor grammatical errors.
Ross Temple:
Welcome to the bounce back series. Today I’m joined with Mr. Dan Moses. Dan, how are you?
Daniel Moses:
Yeah. I’m doing really well. How’s it is going? Always excited to see you.
Ross Temple:
You’re always full of energy Dan. Always full of passion, that’s what I love.
Daniel Moses:
Fantastic!
Ross Temple:
For those who don’t know Dan. Dan Moses runs a very successful Opti-network and business where he helped, and mentors people that are either started off already on that journey on how to create a rent to rent property business. I’m gonna hand it over to Dan. For Dan, so you’re a little bit more about that. So, Dan for those who don’t know, would you like to introduce yourself and tell everyone how you help them how you can serve them and provide value.
Daniel Moses:
Thank you for that very fantastic introduction Ross. So as Ross said, I am a property coach and trainer. I run a company called 01:54 Education. Alongside with that company, I run the very first dedicated rent property network in London. Now, this property networking event. It’s basically it’s a place where you know you can come and network with people who are already doing the strategy. People who are trying to get started you know where you can meet people and form relationship builders and so on. So basically, this is just basically what the property network does.
In terms of education company, we teach people how to make money from property they do not own the right permissions and delivery correctly. You’re able to make money by leveraging on someone who’s already down and bought the property. What you’re literally doing is you’re offering the owner, which can be a landlord, your rent, and getting the right type of permission today right out of the gate. As a house of multiple occupancy which is popularly known as HMO do as an individual, is that you can start creating cash flow for yourself, by making money from home.
Eventually, buying your own properties, this is exactly what I did about three and a half years ago, I didn’t know how to raise money, or I didn’t I didn’t have large amounts of money to buy properties for wireless we did was to learn the strategy. To understand the strategy, the nitty grittiest about the whole process and what to do was a company a business that currently over 380,000 pounds in turnover just last year. For me is not given the ability to raise enough capital, not really in a position whereby I started buying my own properties just last year. So that’s just a nutshell, what I do and I hope it makes sense to visit right now.
Ross Temple:
Oh, I’m sure you agree for those who will be listening and watching this, is that you know you can really see that how Dan loves what he does. He’s extraordinary enthusiastic about, you know, the value that he provides and how we can best serve others. I mean Dan’s, a member of big business events; he’s a member of our gold circle and the progression that Dan has made in a very short period of time. I mean, the exact month you joined them what was the exact month.
Daniel Moses:
So, I joined exactly 04:28 February 2020. I can see the roster. In January, but this time last year I think it was last year the very first time I met that staff and Adam. Where I attended one of the free events in London, and just coming in to that event just kind of changed everything for me. I was not just looking in to be part or 04:49 or a network of progressive individual I was looking for someone who can challenge me. Someone who can help up my standards because I had the biggest limiting belief anyone can ever think of.
My biggest limiting belief was, you know, public speaking. Sometimes when you are talking to someone you know you think it’s easy to speak. But the truth is, when you are an immigrant. When you’re someone who came from, you know, a lot of minority, you know English is not my first language and not being a situation where you try to speak to people who doesn’t understand you, understand the cultures, you know anything about who you are.
Sometimes you just have that belief constantly on your shoulder telling you that every point in time, you’re not communicating. I think that was one of my biggest problems because I needed someone to help me. 05:36 so, coming to your events, either last year, changed everything in that room I made up my mind I said, it’s now or never. And trust me, it was the best business decision I’ve ever made in my entire life.
Ross Temple:
Yeah, that’s great man it’s really been good to be with you on your journey so far and there’s so much more for you to obviously look forward to and what you’re gonna open up opportunity wise but also how you can best serve others. Now, for me, really these times have been challenging for some people. This is why we created this series, the bounce back series are really helping people to overcome; times when they’re a little bit difficult, a little bit challenging.
Let’s face it, things that happen out of the blue, and to make sure that we carry on progressing and getting that momentum. Now that we have 06:25, you and me in here. When this pandemic happened and it was probably best to describe it as at that time you was a little bit doubtful. Yeah. You know, that’s totally natural, as it has been for a lot of people for this period of time, but how have you bounced back because you have bounce back.
Daniel Moses:
Yes, I have. You know, it’s quite interesting that you say that because what’s happening is, when this lockdown situation happened. I was in a process of, like I said I started 07:01business and I bought a property last year. And I use one of the most 07:05 financial systems to buy that property which was not of my own money.
So, when by the first of March, I had a debt of my neck, and I’ll be very open about this. I went into the lockdown with 180,000 thousand of debts accumulated on my shoulders. So, I didn’t know when the 07:28 lockdown started coming up gradually, we didn’t know was gonna happen. We were having this gonna be a lockdown. Everyone’s gonna shut down. There was panic everywhere, people going in and all of that. So, I’m like what I am going to do. I’ve got this 180,000 pounds worth of debt on my shoulder. How am I going to pay this and I had a property that was in yet completed or close to completion. It was almost 99% completion. So that was the situation.
When the government funding locked out on the 23rd of March, and I had a valuation of a property that I finished. Okay, because I needed to refinance that property, so that I can pull all the money invested, out and the valuation of company, 08:18 is set to us 08:21, to value the property. That was the day after when we spoke. I don’t even know how to express it.
So, I went into a serious mental block. I’m like, you know, do I get out of this like I’ve got this money of 180,000 pound plus I need to pay people. Which was going to be paid to, the people that I owe because I was 08:46 by the property that will get valued around about a 24. It will take me about 08:50 about two weeks maxed in order for me to pull out my money out of this property due.
It was my first deal, and so this was my first property08:59 three bedroom house in to a six bedroom 09:03 in doubling the value of the property. The property is actually the value up to 400 to 40,000 pounds. That was what the evaluation was and I was expecting when the property is completed should double. It should give me about 850 or about 800,000 pounds.
So that was situation. So now, I was in a place where I didn’t know how this will happen. How would like come out this how like pay the builder. How would I pay the people are thinking the money from 09:28 because I promised that by the first of April, I was gonna pay that money back? I was already highly leveraged on my credit cards; I was already highly leveraged on my business overdraft. So that was the situation and you called me that day and I think it was on a Tuesday. Monday was a lot done on Tuesday you spoke to me. You said “Dan, How are you?” I said “Ross”. I think I just said” Ross I don’t know”. “Like, what do you mean you don’t know”. I said “I don’t know”. 09:59 and all of a sudden, the room is quite dark.
Okay, that’s in my head now. 10:09 and all of the sudden you went on for like 30 minutes nonstop, and you were just talking to me. It was like so is this is the situation. It’s a money issue. It’s a business issue, it’s a property issue. I don’t know how you did it anyway so you kind of position my mindset to stop thinking. You said “Dan, your company, you’ve got your training company that, you know, you have. So you need to think about how can you take hold your events online”. How can you 10:41 just give me so much information?
One of the things I first did from the moment I put the phone down, was to start ringing off my creditors and repositioning you know kind of renegotiating the terms with them. Now, allowing me a three months leeway on the back of doing that. The following week. I started implementing everything you said, because I didn’t have a business model that could be 11:12 I could take online.
While that happened, I think it was about 8 days later. First of all, we managed to take our events, straight, online.11:31 To ramp up the network online, and I had a training session that was already booked to about five people. Which we already knew were requesting cancellation for the money to come back to them. Suddenly we send them an email saying we can have this event online now. This is the future, and we managed to communicate to our clients and four of them vote into it, and three of them said you know we’ll go ahead and four of them vote in to it. One of them said 11:57
So in April we still managed to continue with the event. In terms of the profit side of things I just didn’t give up, and I kept talking to you and you kept giving me ideas. Obviously you were just doing 12:12 the coaching sessions. The coaching that was given to me was how do I do things in a more smarter way so this is the key about the importance of having the right type of conversation with the right type of person and not just having the right type of conversation. It’s also about implementation because some people 12:32 it’s not gonna happen and that was in my business in April, towards the end of April. 12:40 it was just going in to deep.
Ross Temple:
Dan shared some results that he got. And, you know, this is the importance of these interviews and speaking with business owners or entrepreneurs because no matter what you’re going through. You’re not on your own and sometimes you can feel like you are on your own, but you’re certainly not. You know there are people out there that can pull you up, push you forward and keep you going. Want to surround yourself with, you know, because Dan did this and this wasn’t about you know Dan saying about what was spoken to him about. But really this was to show you that. Dan was in a position where he saw volatile, and Dan spoke about that and we’ll talk about that in a moment.
Dan spoke about that debt being on his shoulders and felt like the room was thought and everything was caving in on top of it, but he’s one conversation that can switch everything for you. It’s one light bulb moment that can change everything for you. And then took that information, and he said the key word there. He implemented, he didn’t sit back, keep planning. He didn’t sit and keep thinking, he has done it. I mean, thankfully he did do it because Dan serves by some of the results he caught moving forward, if you’ve got some 14:01
Daniel Moses:
Yeah. It was obviously like I said he wasn’t a property guy, or a property coach or a property mentor. You are somebody who is in able to acquire lots of experience in what you do. So you said to me, Dan you know you are a property investor.
First of all, the debt you’re talking about now. 14:19 180,000 pounds is not a bad debt, Daniel. I said, I agree with you it’s not a bad debt. 14:24 It’s just that I owe this people money and I already promising this people. And then you said what would you want to do now and we went in to that. I think one of the first things I did was to speak with my financial broker and we 14:36 and this are the things I wasn’t thinking. Even my financial broker probably was thinking about it as well as companies that were still out there during the lockdown looking for online valuation 14:50 and stuff like that. We started looking into that, that was number one and the hopes started to rise and number two was in terms of 14:59 across London.
So I go fifty tenants. During this lockdown I had about 12 rooms, vacant. I got15:09 about 10,000 pounds as of first of April because 3 of my tenants moved out. I had six rooms from the new property and I have another property which I had some renovations and it became vacant and I have from the rent 15:27 income coming through. So, I was losing about 10K plus a month as of first of April. We just look in to this. Now, we understand this is property.
You’re also a coach and trainer. It’s all about how you can 15:47 the value, your value level. Look in to your value level. What are the meaning of this things can you take online? This is not the time for you to complain. It’s time for you to go out there and position yourself. You know, you have to go out there and take 16:02 become the real person that is known for what you do.
The following week, I just started a lot of videos, a lot of postings on my social media. You know, and I started doing business conversation, a business and property conversation with Daniel Moses and I stared interviewing industry leaders, experts on my social media platform. So, we started doing that. And second thing was 16:29 you know taking our events, the rent property network online. Take it out two days events usually like a face to face. In fact we sold more than we were doing it 16:43 and in first of April we manage to generate just on the 5,000 pounds or so. I can’t remember what are the number was.
We generate it on the back of usually thinking how we go over the bills, the expenses running the business. Keeping the business, you know from going down, from going under because a lot of business went under during this lockdown. Big business, small business, everywhere. People went under. So, I think just having a leeway where we can able to generate fresh source of income, fresh revenue. Alright, on the 5,000 pounds can kind of sustain of a little bit.
Then in March sometime in May, our events, we launched a webinar. We have four people in attendance. And the four people in our attendance, only one person stayed until the end. To be honest, that was really heartbroken because we put a lot of work in it. You know, me and my team put a lot of work in it just to have only 4 people to attend your webinar. And I was like, oh my goodness. This is not gonna work. So I instantly organize a meeting with Adam and after the meeting and the session. We had almost one hour session, he told us few things that we had done wrong and few things that we can do right.
So, we right away implemented it. On this second webinar, we have about hundred people registered. We had about just about 40 people come in to the webinar. And on the back of 30-40 people that came on the webinar, we have 35 people stayed until the end of the webinar which is fantastic results. So imagine before it was only 4 people. Now there are 35 people stayed for your webinar. And on the back of that we have 20 people 18:40 and he was just game changer. And you know, on that day alone we sold about 7 grand. Then we have a two days training and on the back of that, it give about 11,000 pounds. So you know, from just 18:57
Ross Temple:
We’ve got 18,000 in a very short period of time.
Daniel Moses:
In two weeks! Again, obviously this is just at the back of having a right type of you know, what was the importance of a coach. A coach is to tell you what you were doing wrong and what you could do right to correct the error. And that was what happened. So Adam told us exactly what we’ve done wrong. Alright, and how can we do it right. And in fact, is that to be honest you could actually do better. You just need to work hard and never look back. So currently now we run two series of webinar session every single month. All the events go online. It’s been running all smoothly. And it’s unbelievable.