This Property Life Podcast

In this episode, Nick and Rick discuss buying property at auctions. They explain the different types of auctions, the pitfalls and perils, and provide tips for buying at auctions, and also caution against making impulse buys and getting caught up in the emotion of the auction. Overall, they highlight that auctions can be a good place to buy and sell property, but it requires a professional mindset and careful consideration. Buyers should view the property, review the legal pack, and ensure it fits their strategy. Financing can be obtained through specialist lenders including bridging finance and angel investors. Selling at auction can be a quick and efficient way to transact, but it's important to set realistic reserves and have a good relationship with the auctioneer. Rick shares his experience of selling two HMO properties at auction and achieving a good result. Overall, auctions offer speed and certainty, but buyers and sellers must be diligent and well-prepared.Key Takeaways*Do thorough due diligence before buying a property at auction*Always view the property before making a purchase*Understand the different types of auctions and their terms*Be cautious of impulse buys and emotional bidding*Take the time to understand the paperwork and legalities involved Auctions can be a good option for buying and selling properties, but due diligence is crucial.*Buyers should view the property, review the legal pack, and ensure it fits their strategy before bidding.*Financing for auction purchases can be obtained through specialist lenders like bridging.*Selling at auction can be a quick and efficient way to transact, but it's important to set realistic reserves and have a good relationship with the auctioneer.*Rick shares his experience of selling two HMO properties at auction and achieving a good result.*Overall, auctions offer speed and certainty, but buyers and sellers must be diligent and well-prepared.Best Moments03:04 Understanding the Modern Method of Auction06:24 Pitfalls and Perils of Auctions08:09 The Importance of Due Diligence19:09 Approaching Auctions Professionally24:21 Understanding Legal Packs28:39 Financing Options for Auction Purchases36:38 Rick's Experience of Selling HMO Properties at Auction40:19 Benefits and Risks of Buying and Selling at AuctionFollow and SubscribeStay updated with This Property Life Podcast by subscribing on your favourite podcast platform. Follow us on social media for the latest episodes, behind-the-scenes content, and more tips on making the most out of your property investments. Your journey to successful property investing starts with engaging in meaningful conversations and building a robust network.Instagram: @thispropertylife_podcastFacebook: This Property Life PodcastContact InformationFor any inquiries or collaborations, feel free to reach out through our website's contact form at thispropertylife.co.uk/contact. We are always excited to connect with our listeners, answer your questions, and help you succeed in your property investment journey.Thank you for tuning into this week's episode of This Property Life Podcast. Remember, success in property investment is just a conversation away! Keep talking, keep networking, and keep investing.Stay tuned for our next episode where we bring you more insightful discussions and expert advice on property investing. Until then, happy investing!

Episode SummaryThis week's episode dives deep into the value of human interaction in property investing. Nick and Rick discuss how engaging in face-to-face meetings, building a local network of contractors, and talking to people in new investment areas can uncover significant opportunities that online listings might miss. Rick shares personal anecdotes highlighting the success that comes from consistently putting oneself out there and making connections, such as discovering a landlord with a large property portfolio through direct conversation.The episode also touches on the significance of overcoming impostor syndrome in the industry. Both speakers advocate for taking small, proactive steps to build confidence and expertise. The hosts invite listeners to participate by sending in questions for future Q&A sessions, aiming to create an interactive and engaging community focussed on property investment.Key TakeawaysEngage in Networking: Property investing isn't just about scouring online listings like Rightmove. It's about visiting locations, talking to people, and building a local network of contractors and service providers.Build a Database of Contacts: Dedicate trips to investment areas to meet local subcontractors, such as roofers and builders. Referrals and face-to-face interactions are invaluable in this business.Value of Human Interaction: Relying solely on online information might lead to missed opportunities. Real-life stories underline that talking to people can unearth hidden investment opportunities.Hard Work Over Luck: Opportunities in property investing come more from consistent effort and networking rather than luck.Best Moments[00:05:12] - Nick's personal experience: Discovering a landlord with a property portfolio through in-person networking rather than online listings.[00:15:43] - Rick's Strategy for Finding a Good Builder: Engaging with builders in investment areas and getting referrals from letting agents.[00:27:30] - Buying a portfolio in a pub: Rick shares a story of buying property after a chance conversation in a pub[00:35:05] - Remind people of what you do: Continuously talk to people about your involvement in property investing to generate leads and opportunities.[00:41:22] - Inviting Listener Participation: Nick invites listeners to send in questions to the podcast via the contact form or voice note on the website.Do you have questions about property investing? Don’t miss your chance to get them answered in upcoming Q&A sessions! Submit your questions via voice note or the contact form on our website thispropertylife.co.uk. Make sure to follow Caroline on Instagram at carolineclaydon.property for more insights and updates.Stay updated with This Property Life Podcast by subscribing on your favorite podcast platform. Follow us on social media for the latest episodes, behind-the-scenes content, and more tips on making the most out of your property investments. Twitter: @ThisPropertyLifeInstagram: @thispropertylife_podcastFacebook: This Property Life PodcastYou can join Caroline, Nick, Rick and Sarah along with the rest of our team and a community of like-minded investors in the Property Wealth System Facebook Community https://www.facebook.com/groups/propertywealthcommunity

In this enlightening episode of 'This Property Life Podcast,' we are joined by Gary Wales, a former professional footballer who has successfully transitioned into the property business. Gary and the hosts share invaluable insights into property investing, business growth, and the parallels between professional sports and property investment.Key Takeaways:Transitioning Skills: Gary emphasizes the importance of maintaining a clear vision and dedicated routine, leveraging skills honed in sports into the property and business sectors.Multiple Income Streams: Understanding the necessity of diverse income streams, including estate agency, property investment, staging business, and even TV work.Overcoming Challenges: The significance of resilience, dealing with rejection, and the psychological impact of setbacks, both in football and the property industry.Mentorship and Accountability: Encouragement for aspiring investors to seek mentorship, be accountable, and critically assess their lives to make confident progress in their property careers.Best Moments:[00:05:00] - From Football to Property: Gary discusses his transition from professional football to property and the disciplined approach required for success in both fields.[00:12:30] - Embracing Resilience: Gary shares his experience of overcoming rejection in his football career and how it shaped his resilience, essential for property investment.[00:25:15] - Building Multiple Income Streams: The hosts talk about their various income streams and how diversifying earnings can lead to sustainable success.[00:45:20] - Using Pain as Motivation: Gary highlights how personal challenges and losses were used as motivation to achieve greater heights.[01:00:10] - The Role of Mentorship: Advice on seeking mentorship and being accountable as key steps for those looking to enter the property market.Valuable Resources This Property Life - https://thispropertylife.co.uk  About The ShowThis Property Life is hosted by the team at Property Wealth System. We are a collective of experienced active investors passionate about all things property and helping and inspiring others to start their own property business.Caroline, Nick, Rick and Sarah have over 50 years combined experience in investing in property as professional investors. Caroline and Nick have built their portfolio throughout the UK covering strategies from buy to let’s, social housing, HMOs, developments and more recently boutique automated hotels. Sarah and Rick have built their experience investing in BTL, HMOs, Hotels and more recently commercial serviced office space. Caroline has travelled the world training people since 2011 on how to invest, scale and accelerate their UK property businesses regardless of where they are based. Caroline loves helping people reach their full potential by changing their mindsets to money, debt, property and investing. Nick specialises as a property mentor, working with both new and experienced investors to start or grow their portfolios using proven systems and methodology.Contact MethodYou can join Caroline, Nick, Rick and Sarah along with the rest of our team and a community of like-minded investors in the Property Wealth System Facebook Community:https://www.facebook.com/groups/propertywealthcommunityCaroline Instagram: https://www.instagram.com/carolineclaydon.property/

Episode OverviewIn this episode, host Caroline Claydon sits down with Barry-John, a property investor based in Scotland who is making a bold move to Dubai. Barry-John shares his journey from initially investing in BTL properties to cover his work income and eventually transitioning to full-time property investment. He discusses the current challenges in the short-term let industry in Scotland and his plans to expand his business to Dubai.Key Takeaways:Navigating new regulations in Scotland for short-term letsThe potential of Dubai’s real estate marketThe importance of social media for property investorsManaging a property business remotelyBuilding his portfolio after attending Caroline's 3 Day Workshop in 2016Best Moments[03:45]Barry-John discusses the new rules in Scotland affecting the short-term let industry[11:30]Sharing how he and his wife, Leanne, have divided their roles in their property business to maintain a healthy work-life balance.[20:15]Barry-John talks about his imminent move to Dubai and how he plans to handle his property investments in Glasgow remotely.[27:00]The guest explains why he fell in love with Dubai and the lifestyle it offers, including almost zero tax and a booming economy.[39:00]Discussion on the challenges and setbacks faced in the property investment journey and the importance of perseverance and maintaining a resilient mindset.[50:35]The interview wraps up with a promotion for a property investment workshop in Edinburgh and where to follow Barry-John for updates on his journey.Valuable ResourcesThis Property Life - https://podcasts.apple.com/gb/podcast/this-property-life-podcast/id1540075591      Property Wealth System YouTube - https://www.youtube.com/c/PropertyWealthSystem  About The ShowThis Property Life is hosted by the team at Property Wealth System. We are a collective of experienced active investors passionate about all things property and helping and inspiring others to start their own property business.Caroline, Nick, Rick and Sarah have over 50 years combined experience in investing in property as professional investors. Caroline and Nick have built their portfolio throughout the UK covering strategies from buy to let’s, social housing, HMOs, developments and more recently boutique automated hotels. Sarah and Rick have built their experience investing in BTL, HMOs, Hotels and more recently commercial serviced office space. Caroline has travelled the world training people since 2011 on how to invest, scale and accelerate their UK property businesses regardless of where they are based. Caroline loves helping people reach their full potential by changing their mindsets to money, debt, property and investing. Nick specialises as a property mentor, working with both new and experienced investors to start or grow their portfolios using proven systems and methodology.CONTACT METHODYou can join Caroline, Nick, Rick and Sarah along with the rest of our team and a community of like-minded investors in the Property Wealth System Facebook Community:https://www.facebook.com/groups/propertywealthcommunityCaroline Instagram: https://www.instagram.com/carolineclaydon.property/Caroline Linkedin: https://linkedin.com/in/caroline-claydon-property/

SummaryIn this episode of This Property Life Podcast, we delve into the magic of collaboration in the property business. Host Nick, alongside his friend Rick Blaney, share their journey and experiences in working together to achieve greater success. From forming a dynamic partnership and building a specialized team to leveraging each other's strengths and making savvy property investments, this episode is packed with insights into the power of working together. Tune in to hear stories of friendly competition, the importance of setting ground rules, and the incredible benefits of an abundance mindset.Key TakeawaysCollaboration vs. Competition: Contrary to popular belief, property investment doesn't have to be a solitary endeavor dictated by secrecy and competition. Collaboration can lead to more significant rewards by leveraging each other's experiences and networks.Networking: Building strong relationships and networking are crucial. Both formal events and casual meet-ups can be powerful ways to connect and share resources.Learning from Others: Rather than reinventing the wheel, learning from and replicating successful models can provide a strong foundation for new ventures.Best Moments[05:10] - The Formation of a Dynamic Partnership: Nick and Rick discuss how their friendship since their twenties evolved into a successful business collaboration.[12:45] - Friendly Competition: The speakers share anecdotes about their friendly competition and how it pushed them toward better deals and innovations.[25:00] - Networking Essentials: Insightful tips on building connections, integrating social elements into work, and turning casual meetups into productive engagements.[40:20] - Upcoming Events: Announcements about property workshops in Edinburgh, keynotes in Singapore, and opportunities for further learning and networking.Valuable ResourcesThis Property Life - https://podcasts.apple.com/gb/podcast/this-property-life-podcast/id1540075591      www.thispropertylife.co.ukAbout The ShowThis Property Life is hosted by the team at Property Wealth System. We are a collective of experienced active investors passionate about all things property and helping and inspiring others to start their own property business.Caroline, Nick, Rick and Sarah have over 50 years combined experience in investing in property as professional investors. Caroline and Nick have built their portfolio throughout the UK covering strategies from buy to let’s, social housing, HMOs, developments and more recently boutique automated hotels. Sarah and Rick have built their experience investing in BTL, HMOs, Hotels and more recently commercial serviced office space. Caroline has travelled the world training people since 2011 on how to invest, scale and accelerate their UK property businesses regardless of where they are based.Contact MethodYou can join Caroline, Nick, Rick and Sarah along with the rest of our team and a community of like-minded investors in the Property Wealth System Facebook Community:https://www.facebook.com/groups/propertywealthcommunityCaroline Instagram: https://www.instagram.com/carolineclaydon.property/Caroline Linkedin: https://linkedin.com/in/caroline-claydon-property/

In this episode of This Property Life Podcast, our hosts delve into the resilience needed to navigate the ever-changing landscape of property investment. They share valuable insights from their own 15-year journey in the field, shedding light on the importance of adaptability, long-term planning, and seeking expert advice. Listeners are encouraged to view real estate investment as a long-term venture rather than a get-rich-quick scheme.Key TakeawaysIt is vital to get tax advice and consider asset protection when starting out in property investment.Real estate is not a quick-rich scheme. It requires a long-term perspective and an ability to adapt to policy and economic changes.Fluctuating interest rates, rising wages, and housing undersupply present both challenges and opportunities in the property market.Having a long-term plan and seeking advice from experienced individuals is essential for navigating unexpected challenges and government changes.Personal anecdotes about adapting to hurricanes and economic crises underline the importance of resilience and proactive planning.Best Moments[08:47] Adapting to Market Fluctuations:"Interest rates will go up and down, wages will change, and housing will always be in demand. This is part of the business, and you need to pivot accordingly."[15:30] Resilience During Government Changes:"Resilience is key. Policies will change, and there will be new challenges. Long-term planning and getting advice from experienced professionals are crucial."[28:10] Surviving Economic Crises:"We survived the 2008 financial crisis, and it taught us a lot. Our recruitment business failed, but we found new opportunities in property investment."[37:45] Reflecting on Past Challenges:"Being hit by Hurricane Beryl during a holiday made us reflect on the stormy weather we’ve faced in the property business. It’s all about resilience and planning."Valuable ResourcesThis Property Life - https://podcasts.apple.com/gb/podcast/this-property-life-podcast/id1540075591      Property Wealth System YouTube - https://www.youtube.com/c/PropertyWealthSystem  About The ShowCaroline, Nick, Rick and Sarah have over 50 years combined experience in investing in property as professional investors. Caroline and Nick have built their portfolio throughout the UK covering strategies from buy to let’s, social housing, HMOs, developments and more recently boutique automated hotels. Sarah and Rick have built their experience investing in BTL, HMOs, Hotels and more recently commercial serviced office space. Caroline has travelled the world training people since 2011 on how to invest, scale and accelerate their UK property businesses regardless of where they are based. Caroline loves helping people reach their full potential by changing their mindsets to money, debt, property and investing. Nick specialises as a property mentor, working with both new and experienced investors.Contact UsYou can join Caroline, Nick, Rick and Sarah along with the rest of our team and a community of like-minded investors in the Property Wealth System Facebook Community:https://www.facebook.com/groups/propertywealthcommunityCaroline Instagram: https://www.instagram.com/carolineclaydon.property/Caroline Linkedin: https://linkedin.com/in/caroline-claydon-property/