Ep 124 - Cyril Thomas – The jump to commercial properties – how you started and top tips
Release Date: 07/11/2024
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A Wealthy Life
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A Wealthy Life
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A Wealthy Life
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info_outlineWhat happens when a seasoned HMO manager decides to conquer the world of commercial property development?
Join us as Cyril Thomas returns, bringing his infectious energy and invaluable insights.
He shares the riveting story of spotting a golden opportunity in an old pub and his relentless journey through tough negotiations with a determined elderly owner.
With a focus on creative thinking and perseverance, Cyril's experience offers key lessons for anyone looking to thrive in property investment.
We also look into the ethical complexities of business negotiations, underscoring the power of empathy and transparency.
Cyril explains how understanding the vendor's circumstances can lead to mutually beneficial outcomes, even in the face of daunting challenges.
From dealing with terminally ill vendors to leveraging lease options, we explore the necessity of a diverse knowledge base in property strategies.
The episode wraps up with a practical look at the strategies and risks involved in commercial property investment.
Cyril breaks down the benefits of a lease option strategy, the importance of meticulous documentation, and the invaluable role of mentorship.
We also discuss an intriguing deal involving parking anomalies and ongoing legal battles, highlighting the critical skills needed to navigate complex property transactions.
Don’t miss out on Cyril’s candid advice and the lessons learned from his dynamic entrepreneurial journey.
--------- EPISODE CHAPTERS ---------
(0:00:00) - Creative Thinking in Commercial Development
Entrepreneur Cyril Thomas shares his journey from managing HMOs to commercial development, including his creative deal-making skills and perseverance in property investment.
(0:13:24) - Ethical Business Negotiations and Strategies
Understanding and empathising with vendors, transparency, diverse knowledge, and adaptability are crucial in ethical property deals.
(0:17:40) - Commercial Property Investment Strategy and Risks
Managing risk and thorough communication are crucial in completing a commercial property deal using a lease option strategy.
(0:25:03) - Commercial Property Deal With Parking Anomalies
A commercial real estate deal with title issues and a flying freehold, secured through a lease option and strategic negotiations.
(0:36:22) - Property Ownership and Legal Battles
Legal battle over ownership of four flats, complications with property structure, and importance of networking in resolving access issues.
(0:50:38) - Importance of Mentorship and Networking
Formal and informal mentoring, building relationships, access to a network, authenticity and trust in business solutions.
To watch this episode on YouTube:
To watch Cyril’s previous episode on YouTube:
Follow Cyril on:
LinkedIn: https://www.linkedin.com/in/cyrilthomasuk/
Website: https://platinumcrown.co.uk/
https://www.pibuk.org/
Connect with Vicki:
Visit my website to learn more
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