Why I’m Closing On Property Membership
For the last 3 years I have been showing people positive cash flow properties all over Australia. But sadly it’s time to shut it down. Here’s an explanation of why.
Ryan: Hey, guys. Ryan here from onproperty.com.au. I help people find positive cash flow properties, and I wanted to create a video to let you guys know why I’m shutting down On Property Membership. Now, just to clarify, I’m not shutting down onproperty.com.au the website, the free blog, the videos, the podcast. That will all still be running. I’m also not shutting down propertytools.com.au, which is a cash flow calculator that I make available to people.
What I’m shutting down is On Property Membership, which is the daily property emails that go out to people. So, people subscribe as a member, and I go out and I find positive cash flow properties, and I share those properties with my members. So, they get access to the details of the property, they see the address of the property, they see the listing, they see the asking price, the estimated rental income, estimated cash flow, et cetera.
So, these members are seeing properties from all over Australia that are likely to be positive cash flow. So, it just gives people a really good insight into them market, what positive cash flow properties actually look like, where they are, and these properties are available for sale now.
But, alas, I am shutting it down. Now, I started this service in April 2014 when On Property was really just in its infancy. Originally I started it as a membership website, and there wasn’t actually many properties’ listings at all. It was more education on how to find positive cash flow properties, so, video course in there. I had the calculator in there, and it was more just that sort of stuff.
And I kind of threw in the property listings on the side as something extra for people, but what I found out over time was that people were signing up for the property listings more so than they were signing up for everything else. So, over time, it changed to eventually where it was just property listings via email because no one was really accessing the membership website anymore.
But, a lot has changed since 2014. So, it’s been over three years that I’ve run this service, and On Property isn’t just your standard company. It is me. I run On Property, I create all the content, I find all the properties.
It’s me, it’s my awesome virtual assistant, [Dipti 00:02:15], who helps me, once I find the properties, to get them out to you guys, as well as my awesome transcriber, Julie, who transcribes all the videos so you guys can read them. But, yeah, it’s a very small operation. So, it’s not like a standard business where we just want to keep going on, and my life has changed significantly.
You guys may know that I went traveling in a van. We did two months with our kids in the van, and we ended up relocating up Noosa in Queensland, which is an awesome spot. But, basically, my life has changed, and what I need has changed, and On Property, as well as other websites that I have, I have a version of financial freedom already, and so I don’t say this to arrogant or anything like that, but just to give you guys some insight into my mind, is that I’m not rich, by any stretch of the imagination.
I’m not completely financial free, so that if something were to happen to my business that I would be fine, but I am earning enough money right now that I don’t have to work a lot because I have these websites generating passive income.
But one of the things that isn’t passive is On Property Memberships, so this is something that I need to constantly go out and find properties for, constantly work with customers, whether they want to cancel their accounts, or sign up, or maybe every now and then someone isn’t happy and wants a refund, which happens rarely, but it does happen, or maybe there’s some error with the system, and people aren’t receiving their emails. So, there is constant work that I’m doing every single week in order to maintain this site, and, basically, I came to the decision that I wanted to focus my efforts, rather on this constant maintaining of the membership, to actually do things that will move my business forward and move my passive income forward.
So, I want to do more creative things for you guys, for On Property, as well as for my other websites as well, so I want to create more free content, I’m tossing up the idea of doing webinars on how to find positive cash flow properties, and finding them live on the webinars for you guys. I’m throwing around all these different ideas that I’m not 100% sure yet. One thing that I do want to do is start live streaming as well, and doing Q&A sessions.
Ideally, I’d like to do it with Ben from Pumped on Property, who’s a buyer’s agent, and he’s really knowledgeable about the market right now, more so than me at the moment because I don’t have my head in it as much as I did, maybe, a year ago, and so it would be really good to do it with him, and we bounce off each other really well.
But, yeah. I guess that was it. It was a good service, people were subscribing to it, people were happy to subscribe to it. I’ve had customers who have been my customers since the very beginning, since April 2014, I’ve had people who’ve been customers for over two years. People continue to subscribe monthly or continued to subscribe annually, and so it’s a good service, and it’s showing people properties all over Australia, but I thought it was time to do something new.
And because it’s not just a company where it’s making money, so we’ll keep doing it, it’s actually taking up my time, which is my most valuable resource at the moment, and so I want to take that time and use it into things that I think will serve more people, serve them better, but as well, create more passive income for me. Me and my wife are looking at purchasing a house up here in the near future, so that’s something we want to focus on as well.
But, yeah, so, all in all, there’s not some magical reason why I decided to close down On Property Membership. It was just, it had run its course, it had served its purpose for my business, but I no longer need that income, and I would rather focus on making that income in other ways, rather than just this very limited way that helps only a maximum of 150 people. I would rather focus on something that can help more people than that. So, webinars.
Me and Ben will often get over 100 people just on those webinar nights, and that’s ’cause we limit it. I’m sure we could get hundreds of people on those webinars, so that’s something that we could help people with, or that I could help people with, as well as just freeing up my time, and just freeing up my creativity, and so I’m not constantly thinking about needing to find properties or things to do with customers, that I can actually think about, okay, what’s going to serve the greater community?
And I’m very fortunate. I’m very grateful that I have that opportunity that I can say no to this current product so that I can say yes to other opportunities, and that’s something that I feel like I need to do, and it may be a wrong decision, and I may, in future, need to recreate On Property Membership, and have those property listings available again, but for now I’m going to try this, and I’ll see where it leads, and we’ll see what good comes out of it, and we can always go back and start it again if we need to.
So, I thank you guys so much for understanding, and for the customers out there who are sad to see this service go, I do apologize that it won’t be around anymore, but I will be creating more content in the future to help you guys, and so, hopefully, the benefit overall will be much better.
I also have a course out there on, actually, how to do this yourself, and how to find those properties yourselves, so if people are sad that I’m not finding properties for them, you can do it yourself, and it’s not too hard.
It’s pretty easy. Just go to onproperty.com.au/find, and I have a paid course over there on how to do that. But, again, I said I’m looking at, maybe, doing webinars to teach people how to do this anyway, so that may be something to look forward to in the future.
So, yeah. Thank you so much to my customers who supported me for so long. I apologize that this service is going away, but I do hope that I can continue to serve you through onproperty.com.au and the free content that’s available through that, as well as through propertytools.com.au, and the software, and the calculator that I provide over there. So, thanks so much, guys, for letting me explain this to you and for listening to this, and until next time, stay positive.