Property entrepreneur: the wealth dragon way to build a successful property business

192 Pages·2016·2.162 MB·English

by  Wong, Vincent

Property Entrepreneur
Property Entrepreneur
THE WEALTH DRAGON WAY TO BUILD A SUCCESSFUL
PROPERTY BUSINESS
Vincent Wong
Thiseditionfirstpublished2016
©2016VincentWong
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Formyfather,whoentrustedmewithrepresentinghimonmyfirstever
businesstripandinspiredmetofollowinhisfootsteps.
Contents
Preface ix
Acknowledgments xi
AbouttheAuthor xiii
Introduction:MyPropertyJourney 1
PartI The Old Deal
Chapter1 TheHistoryOfProperty 9
Chapter2 TraditionalPropertyInvesting 17
Chapter3 WhoWantsToBeAPropertyInvestor? 21
PartII The New Deal
Chapter4 What’sWrongWithTheOldDeal? 41
Chapter5 UnderstandingTheNewDeal 47
Chapter6 StartingYourPropertyBusiness 59
Chapter7 ASystemizedBusinessIsASuccessfulBusiness 65
Chapter8 SevenDealmakingStrategies 93
Chapter9 DealingWithObjections 129
Chapter10 TheSevenGoldenRulesForPropertyEntrepreneurs 139
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viii Contents
PartIII The Real Deal
Chapter11 ProbatePropertyInLeeds 147
Chapter12 PropertyWithRegisteredChargesAgainstItInStanmore 151
Chapter13 UrgentSaleNeededToClearDebtsInBirmingham 157
Chapter14 FromBMVToLease-OptionDealInLiverpool 163
Chapter15 UrgentLease-OptionDealInLincoln 167
Chapter16 Lease-OptionDealOnDilapidatedPropertyInSheffield 169
Chapter17 PartNow,PartLaterDealOnProbatePropertyInBarnsley 173
Chapter18 TheDutchDeals 175
FinalWord:TheFutureOfThePropertyBusiness–YourRole 183
Index 187
Preface
W
hetheryou’vebeeninvestinginpropertyforyears,oryouarea
complete newbie, eager to learn and frustrated by not having the
money or credentials to get on the property ladder in the tradi-
tional way, this book contains some of the most important informa-
tion you need to know. I wanted to write this book because, when it
comestofindingandbuyingproperty,Ihaveawealthofknowledge
I want to share. The methods I will be discussing are not those gen-
erallytalkedabout.Why?Becausenoneofthembenefitthemiddle-
men … the banks, the government and the estate agents! Whether
you decide to use any of these methods or not, I believe you have
a right to know about them, to have all this information at your
disposal.
Ithinkanyonewhoisseriousaboutinvestingintoday’sproperty
marketshouldhaveaccesstothisinformation.Everyonedeservesto
know all the potential options. I’m not suggesting that these new
types of property deals are easy, and this is not the “one-size-fits-all”
approach that is usually taken in traditional property purchasing.
Indeed, some types of deals are only applicable in certain specific
circumstances. However, if you want to be in the property business, I
believeyouhavetothinklikeanentrepreneur.Andasanentrepreneur,
youneedtogatheralltheinformationyoucanlayyourhandsonso
thatyoucanalwaysmakeaninformedbusinessdecision.
Theinformationinthisbookisbasedonallmyyearsandexten-
sive experience in the property business; I believe I have an obliga-
tiontosharethatwithyou.EverymethodIdescribeindetailinthis
book I have tried and tested myself. Knowledge is power and, for too
longnow,thebalanceofpowerhasbeeninthehandsofthepeople
whoarefeedingyouinformationbasedonwhatisbestforthem,not
you. The estate agents, the lawyers, the lawmakers, the government
andthemediaarenotthinkingofyourbestinterestswhentheyadvise
you, no matter how they dress it up. Do not let them convince you
ix
x Preface
otherwise! My advice, to anyone on any issue is get informed, and
thenmakethebestdecisionforYOU!
I hope you enjoy this book, I look forward to meeting some of
yousomedayandIwishyouallthebestonyourjourneythroughthe
propertybusiness!
Acknowledgments
I
am indebted to so many people for helping to make this book
happen. Firstly, thanks to everyone at John Wiley & Sons, especially
ThomasHyrkiel,JeremyChia,GladysGanaden,TessaAllenandCar-
olineMcPherson.ThanksalsotoMirandaLeslauforallherongoing
hard work and expertise in PR. My deep gratitude goes to my fam-
ily and friends, for your love and support. I wouldn’t be where I am
todaywithoutthesupportandguidanceofallmymentors;yourwis-
domhashelpedmebecomeaproudmentortootherswhoarestart-
ingoutorre-establishingtheirpropertybusinesses.Wealllearnfrom
each other; the learning process never stops. I want to thank every-
onewhoworkswithinmypropertyteamforhelpingtorunasmooth
andsuccessfulbusiness,especiallymyDutchpartneranddearfriend,
MarinadeHaan,andmysister,Florence,forexpertlydoingsomany
dealsonmybehalf.ButmostlyIamhugelygratefultoallthesellers
whohaveeverputtheirtrustinme;whetherornotwemadeadeal,
weworkedtirelesslytogethertowardsawin-winsituation.Iamalways
honoured and often humbled to learn about your lives and the cir-
cumstances under which you become motivated sellers. You are the
ones who drive my passion for the property business … which, for
me,willalwaysbeapeoplebusiness.
xi
About the Author
Vincent Wong is co-founder and Executive Chairman of Wealth
Dragons Plc. An internationally recognized and respected property
entrepreneur, Vincent has generated over 100,000 motivated seller
leads to date and has helped hundreds of investors acquire prop-
erties with little or no money down. In addition to building his
ownmultimillionpoundpropertyportfolio,Vincenthastaughtdeal-
making strategies, including lease-option deals – on which he is a
world-renowned expert – to investors throughout the world. As an
internationally-recognizedpublicspeakerandexpertintheproperty
industry,Vincentisregularlyinvitedtospeaktoaudiencesof1,000+
delegates at the prestigious Property Outlook Conference in Kuala
Lumpur(thebiggestpropertyconferenceinAsia).Vincentisagrad-
uateofTheUniversityofLondon’sSchoolofPharmacyandholdsan
MBAfromCassBusinessSchool.
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