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Ep 136 - Beware of the sharks – Six sharks that could kill your property dreams

A Wealthy Life

Release Date: 10/03/2024

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More Episodes

Ever 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".

 

Join the Wealthy Life Community

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To watch this episode on YouTube:

https://youtu.be/7m9l1TYbgSE

 

 

Connect with Vicki:

https://linktr.ee/vickiwusche

 

Visit my website to learn more

https://vickiwusche.com

 

Book a call  - https://calendly.com/vickiwusche

 

Access 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