How a near financially fatal property deal turned into a multi-million pound exit strategy.
Paul has been involved in property for the last 26 years – the first 10 years as an estate agent with over 1200 transactions to his credit and the latter 16 years as a property trader with over 500 (and counting) deals under his belt.
Paul is an ordinary guy from humble beginnings who had a burning ambition to better himself. He dragged himself out of the baking trade into estate agency where he learned and honed his craft until he made the decision to go self-employed sourcing deals for investors. One of his clients recognised and put trust in Paul’s ability to negotiate great deals and so a longstanding joint venture partnership was formed.
An early mistake through Paul’s lack of due diligence almost resulted in financial disaster. However from this cock-up a unique exit strategy was born as Paul discovered that crappy houses with a cheap asking price can go for substantially more than their counterparts on the open market.
Is this still relevant today?
“This is as relevant as it was 16 years ago, and probably more relevant with a large amount of investors looking for a safer haven for their money than the banks”.
Can anyone use this strategy?
“One of the oldest professions in the world is trading and that’s all we do, trade. We understand the market and what it wants. We go and find that type of property and then supply it to the market – simple, anyone can do it”.
Paul put pen to paper last year and wrote a book entitled ‘Hustle Your Way to Property Success’ (http://www.revealyourrealtyriches.com/) which is a fantastic insight into his world of trading along with some useful tips and techniques that can be used when looking for property yourself.
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