Ep 121 - Craig Hopkins PT2 – Property Horror Stories – Buddleia, Bodies and Banks
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/
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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
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