MikeT2018

Registered with Property118.com
Sunday 12th August 2018

Location
UK

Trading Status
Sole Owner

Providing essential rental accommodation since
2012

Number of rental properties owned
6 - 10

Insures properties through a broker recommended by Property118
No


Latest Comments

Total Number of Property118 Comments: 2

MikeT2018

20:46 PM, 19th March 2019
About 5 months ago

If someone said by this time next year they could make you a property millionaire, would you be interested?

Hi Alex

Thanks for the article - it's about time somebody spoke out about these schemes and scams. I'm very surprised nobody from the 118 community has commented on this yet?

I've been a self taught LL for 7 years now and I've always been interested in educating myself, growing my portfolio and maximising my income. I've been sceptical about these schemes that you've mentioned for a while now. I've been to a few events (one was a whole weekend!) with some of the big players and I've seen people part with many thousands of pounds for 3-5 day courses in get rich quick schemes (using other people's money)! etc etc But i have never met anyone who has actually got rich doing this! Do they exist?

Just this morning, i received an invitation to increase my profit through one of these courses (with someone else's money)...sales pitch.... "So how many people do you know who added at least an extra £100k of profit to their property investing in the last 12 months?
Well the good news is that I would like to introduce you to 4 investors who have done just that. They are normal people, just like you, who have invested in themselves, taken massive action and achieved life changing results over the last 12 months, as part of my Property Mastermind Programme"

These people really encourage others to invest in themselves by any means they can - via credit card is the favourite push. The argument is that it is more expensive to make a property mistake than the cost of a course! Most of the "education investors" I met seem to be vulnerable or lack confidence. They want hand holding on their journey to get rich quick!

What i would be interested to know is how big are the issues you mention above? How many people who signed up to these schemes feel let down or scammed? Because if there are so many people who feel that way, how come there is little about this in the media or forums? That's what makes these schemes so remarkable to me. If they are so bad, how come there is little evidence on the net or the media?

On the plus side, what I think the big players do well though is offer lots of free advice and the events are a great opportunity for networking too. As long as you can read between the lines, the events can be a good investment on their own.

Btw, I've been on one RLA course and wasn't impressed at all i'm afraid!... Read More

MikeT2018

8:46 AM, 16th August 2018
About A year ago

Update with Some success

Hi Judith

I'm sorry to hear about the issues you faced with this tenant. Sounds like a relief that she has gone! Can i just clarify a couple of things?

What was her earnings and what was the rent?
What referencing did you do before giving her the tenancy?
Did you meet her personally prior to handing her the tenancy agreement and keys etc?
Did you "choose" this tenant from a list of tenants available or was this the only tenant that agreed to take the property?
Were there any indicators that you could share that, looking back, were warning signs that you missed? How could you have done this differently?
Finally, what was the quality of your property v the area? On a scale of 1 (poor) to 10 (amazing)?

Sorry for so many questions, but it's difficult to totally process the situation based on her just owing you £4k? I hope you don't mind.

Kind regards

Mike... Read More