Ep 136 - Beware of the sharks – Six sharks that could kill your property dreams
Release Date: 10/03/2024
A Wealthy Life
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info_outlineEver wonder if your property investment is a goldmine or a shark-infested trap waiting to devour your savings?
This episode uncovers the murky waters of property investing, shedding light on six types of problematic entities that can sabotage your success.
From vendors and estate agents who use deceptive tactics to sell properties with hidden issues to letting agents whose negligence can cost you dearly, I share the landmines and teach you how to navigate them safely.
Learn how to scrutinise deals and avoid becoming a bad landlord, all while establishing an ethical and profitable property business.
Discover why letting agents are the gatekeepers of your property management success or failure.
Through real-life horror stories, I reveal the dire consequences of working with unethical or incompetent agents, including fraudulent safety certificates and withheld rent payments.
I address the critical need for thorough vetting and share the benefits of partnering with reputable, experienced agents who can protect you from legal and financial risks.
Don't let emotions cloud your judgment; gain insights on ensuring compliance with property laws and securing responsible tenants.
I also discuss the treacherous world of deal sourcers and property trainers, highlighting the risks of inflated property values and unrealistic rental guarantees.
Learn strategies for evaluating property deals and understand market fluctuations to ensure long-term sustainability.
Tune in and learn how to navigate the property market without falling prey to the industry's "sharks.
--------- EPISODE CHAPTERS ---------
(0:00:11) - Avoiding Property Sharks in Investing
The "sharks" in property investing: deceptive vendors and agents, scrutinising properties, avoiding bad landlords, and protecting investments.
(0:12:40) - Uncovering Risks in Letting Agents
Letting agents play a crucial role in property management, but due diligence is necessary to avoid legal and financial risks.
(0:24:38) - Avoiding Property Investment Pitfalls
Deal sourcers and property trainers may lack accountability and provide inflated values and guarantees, requiring thorough research and verification of credentials.
(0:35:12) - Avoiding Property Investment Sharks
Evaluating property deals, negotiating effectively, and understanding landlord responsibilities to avoid industry "sharks".
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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