Invest in property like you're making a Hollywood movie.

Be smart and outsource your investment; be like a movie: bring great people together, produce a great product and move on.

Hollywood is the movie capital of the world and produces world-class films year after year. But how do directors like Steven Spielberg manage to do this time and time again? The director has a key role in choosing the cast members, production design, and the creative aspects of filmmaking. Where their skill lies is in bringing a vision to life and getting the right team to build this vision.

When looking at property or any investment, should you treat it like a film? Spielberg undoubtedly would be able to create a film by himself if he had to, but this isn’t what he does. Each film brings specialists in for different tasks: casting, filming, lighting, sounds, music, production and so on. These, however, are not the same for each film - directors understand that each film is different. For example, you might deal with a costume designer who is great for a period drama, but chances are they’re not the right choice for sci-fi.

So why, with property, do so many people try and do the whole job? If you’re wanting to buy a rundown property and rent it out on a single let basis to a young family, would it be better to ask an agent if young families want a house in the area, what sort of property they want and what price is fair? Would this give you a better, quicker answer than trying to work it out yourself? You could do the same when refurbishing the property. Many attempt to do this themselves, or get a friend to do it, but this can dramatically increase the time it takes to complete, decrease the quality of work and put stresses on relationships. 

Instead, should you be like Spielberg? Bring together the right team for the job to create the best possible outcome. Obviously, the scale or level of this can change depending on your finances, but looking at what you have to achieve - would specialists in specific areas create and complete more effectively than you?