A sorry tale, a warning and a therapy session all rolled into one this week as we tell the story of how Rob B lost £40,000 on a single deal.
We rub the salt ever deeper as we examine:
– How Rob found the deal in the first place
– Why it was such a good opportunity
– Where he went wrong
– What happened to other people’s deals which did go through (the truly painful bit)
– The three ways in which Rob lost out
Of all the episodes we’ve done, this has got to be one of the most valuable: not because there’s anything in here that we didn’t already know, but because it reinforces the importance of several points we’ve covered before.
Have a listen, and make sure you don’t make the same mistakes!
“I broke my own rules, and lost out on £40,000 as a result”
Resource of the week
Thank you to Tim Nolan for telling us about Revolut — a new app for foreign currency exchange that gives you a better rate than you can get from any other service.
No fees, great rates and cutting banks out of the picture – what’s not to like? We’ll be signing up for sure.
News this week
Want to live next door to David Cameron? No, not by becoming Chancellor of the Exchequer (although that’s not a bad idea), but by snapping up the house that’s on sale next to Dave’s Chequers estate.
Chat over the fence about how he might want to consider his mortgage interest measures or just lob rubbish into his garden – the choice is yours…
Check out our progress journals
The progress journals section of The Property Hub has really taken off, and it’s a brilliant place to track your achievements and get timely input from other members whenever you hit a sticking point.
You can read Rob B’s journal for the context of how this particular disastrous deal has affected his year, as well as following the journey of plenty of other Hubbers engaged in a variety of different projects.
Join the conversation
What else do you think Rob could have done differently to avoid losing out as he did?
Have you had any disastrous deals of your own that we could learn from?
We’d love to know, so join the discussion in The Property Hub!
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