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A Wealthy Life


Jun 20, 2024

Ever wondered what happens when a property venture goes hilariously wrong? Join me, for this episode as I bring back Craig Hopkins, our seasoned property accountant, for an episode filled with property investment horror stories you won't believe. 

 

We discuss the importance of thorough market analysis while sharing some of the most bizarre and unexpected discoveries from property inspections.

 

You'll laugh out loud as Craig shares the tale of a house with non-opening windows and the unforgettable meeting with a man in his underpants. 

 

These anecdotes underline the unpredictable nature of property investment and stress the importance of noticing even the smallest details during inspections. 

 

We also navigate through the complexities of buying properties at auction, emphasising the need for physical inspections and the strategic use of local letting agents for distant buys. Craig’s stories about auction surprises will keep you on the edge of your seat.

 

But it's not all fun and games; we tackle serious pitfalls in property management as well. 

 

Craig shares a cautionary tale of a client who breached mortgage terms by moving into a buy-to-let property, highlighting the potential legal and financial repercussions of such uninformed decisions. 

 

The episode underscores the necessity of consulting professionals and building supportive relationships with your team to ensure long-term success. 

 

Whether you're a seasoned investor or just starting out, this episode is packed with invaluable lessons and humour that will leave you both wiser and entertained.

 

 

--------- EPISODE HIGHLIGHTS ---------

 

(0:00:00) - Property Investment Horror Stories

Nature's lessons in property investment: pitfalls, horror stories, and the importance of market research and strategic decision-making.

 

(0:07:58) - Investment Property Pitfalls and Surprises

Humorous and shocking experiences of buying and inspecting properties, paying attention to details, quirky features, and unpredictable nature of property investment.

 

(0:20:02) - Property Auction Strategies and Unseen Properties

Nature's surprises and the importance of inspecting auction properties, obtaining EPC certificates, and using local agents for distant investments.

 

(0:24:23) - Property Investment Tips and Pitfalls

Mastering property investment through auctions, due diligence, and persistence, while balancing ambition and practicality.

 

(0:36:39) - Navigating Property and Business Management

Consult professionals, communicate proactively, build relationships, upgrade services for successful property management.

 

 

To watch this episode on YouTube:

https://youtu.be/a8NUH7cCzUw



Follow Craig on: 

Website: https://propertyaccounts.co.uk/

 

Property Investors Bureau - https://pibuk.org/

 

Connect with Vicki:

https://linktr.ee/vickiwusche

 

Visit my website to learn more

https://vickiwusche.com

 

Booking calendar - https://calendly.com/vickiwusche  

 

Access the free resources: https://vickiwusche.com/resources/

 

Has this podcast started you thinking about what A Wealthy Life might look and feel like for you?

 

Why not spend another 3 minutes and take my online audit called Readiness to Retire Wealthy based on the five principles discussed in The Wealthy Retirement Plan book and episodes of this podcast?

 

https://scorecard.vickiwusche.com/

 

The assessment provides you with a personal score and report to help you take back control of your financial future – something business owners and employees both forget – but for different reasons.

 

Browse Books by Vicki: 

Using Other People’s Money: How to invest in property 4th edition  

Make More Money from Property: From investor thinking to a business mindset 2nd Edition  

Property for the Next Generation: Securing your future in uncertain times 2nd Edition  

The New Estate: Insights from the 22nd century  

The Wealthy Retirement Plan: A revolutionary guide to living the rest of your in style  

  

Or read the following Ebooks on VickiWusche.com:  

9 Critical Property Principles  

The De-Job Yourself Manual: Break your reliance on a monthly wage  

The Values Manual: Understand what your values are and how they can be key to a successful business   

The Goal Setting Manual: Create meaningful and practical goals then achieve them