The Wealth Dragon Way: The Why, the When and the How to Become Infinitely Wealthy

CHAPTER 14 Property Investment in Practice

All things are difficult before they are easy.

—Thomas Fuller

We've always felt that the best way to teach people is to share our experiences with them, so in this chapter we're going to share with you some of our firsthand experiences in property investing. You'll see how it's a rollercoaster of highs and lows. You win some, you lose some…and you never know what might be lurking around the corner. All you can do is keep your wits about you, do what you believe is best, and take it on the chin when things don't work out the way you hoped!

John's Property Stories

Let's start with a good one!

Paradise in the Lakes

One of the most positive experiences I ever had took place in 2008, when I was contacted by a guy in the Lake District who was struggling to sell his four-bedroom bungalow. It was in an area where a major industrial plant had been shut down. The guy had lost his job and needed to relocate with his family to an area where he could find employment using his specialized skills. The problem was hundreds of ex-employees from this plant were in the same situation, and properties were simply not moving. He'd had a couple of offers that he'd accepted, but both times the chain had broken. This is quite common with properties of that size, especially when something like a mass redundancy triggers a big upheaval.

The guy was pretty desperate by the time he called me.

Up until this point I had only ever bought properties that were in ...