Don't Get Caught Out: 6 Essential Questions for Property Newbies

Not everyone in the property world is there to help you. Some people are there because they want your money. Take The Wealthy Life Scorecard: https://bit.ly/AWL-Scorecard Property events work the same way auctions do. When people are excited, frightened, inexperienced or desperate to escape the 9-5, emotions go up and critical thinking goes down. Networking taught me some of the most valuable lessons of my career, and a lot of them came from watching what happened when money entered the room and common sense left it. In this episode I tell you some of the stories I can talk about, because they happened to me or to people close to me. My best friend from university joined a training company that also sold deals, remortgaged her house and bought off-plan plots in Florida and property in Spain. None of it held up. At the same time I went from a free evening to a cheap three-day course to £20,000 each on training for four of us. That money would have been four house deposits. The training didn't deliver, but I still had 20 viewings and two accepted offers before my first module, and I explain why I think the student matters as much as the course. I also tell the story of my very first deal, from someone I met at a networking event, and what I found on the back page of the mortgage offer. Then the practical part. Six questions to ask any mentor, trainer or sourcer before you trust them, how to tell a networking event tied to a training company from an independent one, and why a £20 evening with a good speaker might be the best value education in property. And when I say avoid the sharks, I'm speaking as The Property Mermaid. I know a bit about sharks. EXPECT TO LEARN: - Why property events work like auctions, and what happens to critical thinking when emotions run high - How a close friend remortgaged her home to buy off-plan deals overseas, and why none of them held up - What £20,000 each on training got four of us, and why I didn't end up where she did - Why it's how you behave as a student, not the event, that decides whether networking works - Why I read every page of my first mortgage offer, and what the back page told me - What happened to the people who invested alongside property names who went too big, too fast - Six questions to ask a mentor, trainer or sourcer before you trust them - The difference between networking events tied to a training company and independent local ones - The questions to answer about yourself before you hand over any money, including whether property is right for you yet TIMESTAMPS: 00:00 Not everyone in property is there to help you 00:19 Why property events work like auctions 00:58 When money enters the room and common sense leaves 01:18 A caveat before the stories 02:43 My best friend and the off-plan deals 05:46 A free evening, a 3-day course and £20,000 of training 06:44 Why it's the student, not the event 07:28 20 viewings before my first module 08:03 Who get-rich-quick promises are really looking for 08:47 What does the other side want from this? 09:30 My first deal and the back page of the mortgage offer 11:28 Too big, too fast 13:23 Why networking is a dangerous emotional environment 13:58 How many market cycles have they been through? 15:35 Six questions before you trust a mentor, trainer or sourcer 16:38 Only raving fans? Dig deeper 17:31 Will their journey match yours? 18:16 Networking can open doors or empty your bank account 18:57 Tied networks versus independent ones 21:00 Books, free courses and podcasts 22:02 Is property right for you, and is it right now? 22:43 Four questions before you hand over any money 23:30 How to avoid the sharks FOLLOW THE HOST VICKI WUSCHE: LinkedIn:   / vickiwusche   Facebook:   / vickiwusche   Instagram:   / vicki_wusche   Take The Wealthy Life Scorecard: https://bit.ly/AWL-Scorecard LISTEN TO A WEALTHY LIFE: YouTube:    / vickiwusche   Apple Podcasts: https://podcasts.apple.com/nz/podcast... Spotify: https://open.spotify.com/show/13lVRTA... #PropertyInvesting #PropertyNetworking #PropertyMentor #DueDiligence #AWealthyLife