Ep 117 - Craig Hopkins - Taking Care of Your Money Is Key to Success

Imagine stepping into the complex world of property investment, armed with expert financial insights that could pivot your success. 

 

That's exactly what unfolds when Craig Hopkins, a seasoned property accountant and fellow investor, joins us to impart wisdom gleaned from the trenches of real estate's financial battleground. 

 

 

Craig explains the transformation of accountancy within the property sphere, the intricacies of tax legislation like Section 24, and why a bespoke financial guide isn't just beneficial—it's essential for thriving in this nuanced market.

 

Our conversation also covers the landscape of property investment strategies, revealing the contrast between buy-to-let properties and Houses in Multiple Occupation (HMOs). 

 

We swap stories from the early days, reflecting on the seismic shifts within the industry and how adapting investment tactics to one's personal strengths and ever-changing market conditions isn't just shrewd—it's necessary. 

 

 

Drawing from personal stories and valuable lessons, we underscore the rewards of effective financial management, from sidestepping the chaos of self-management to celebrating the triumphs of a well-oiled property machine. 

 

 

Remember to subscribe to join our ongoing discussions of property investment as a cornerstone for crafting the wealthy life you envision

 

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

 

(0:00:10) - Property Accountancy and Investing Insights

Property accountant Craig Hopkins emphasizes the importance of specialised financial guidance in managing tax changes and company structures in property investment.

 

(0:12:14) - Navigating Property Investment Strategies

Property investment strategies, HMO legislation changes, and forming a reliable power team for management are discussed in uncertain markets.

 

(0:24:21) - Property Management Challenges and Solutions

Nature's challenges and experiences in managing property investments, building a strong team, and delegating to experts for long-term success.

 

(0:28:10) - Property Management Challenges and Solutions

Managing property portfolios requires accurate accounting, cash flow management, and progressive improvement over time.

 

(0:32:51) - Managing Cashflow and Data Protection

Consolidating expenses, timely organisation, proactive outreach, digital storage, and consequences of neglecting financial planning.

 

(0:41:29) - Mistakes in Property Investment and Management

Compulsory education for business owners covers roles, financial responsibilities, pitfalls of advice, and complexities of property investment.

 

(0:50:15) - Value of Property Investment Advice

The importance of being prepared, understanding personal attributes, having a specialised team, and cohesive financial management.

 

 

To watch this episode on YouTube:

https://youtu.be/w-McdIwtvqQ

Follow Craig on: 

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

 

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