This is not a grip but a reality….Integrity Goes A Long Way in Property. I had a portfolio of property offered to us this past week. The sellers maybe were or maybe not desperate however they needed money to fund a project. I was offered 13 HMOs. They had a ridiculous NDA they wanted signed. My sister is a solicitor and thought it was a complete joke! More so in the midst of the conversation it became apparent the director was one and the same in which I had a bad experience. Promised the world …Leave it with me…and NOTHING…had to dispute charges on a credit card actually ! This is one story….Then we were selling two HMOs to a London investor…first property was a professional HMO which was generating over 22,000 per year. We were told that it was not rentable ( a slippery way to make an excuse) ….that same investor who has not had the decency to return an email who was supposed to buy a 6 bed HMO disappeared yet decided to go and contact our social housing supplier directly. I have had so called investors who wanted us to source for them to only look to cut us out and go directly to our building teams….Then stupidly call us…simple reply…LOOSE MY NUMBER PLEASE….Basically people are not stupid. You can not lie to them…you can not steal from them and think that they will not know. We have had competitors call us and tell us not to bid on a property and they will pay us. Of course we did not do this as well as this is illegal!
We have had builders who went to our investors..You name it….simply unethical. Sadly these people are terribly short sighted. Property is a long term game. People have long memories. There will be cycles that are great in property as well as those that are rather daunting. My simple suggestion is Integrity Goes A Long Way in Property
Never a good idea to burn a bridge….