Home Entrepreneurial skills Building Your Business Daniel Wood: Property millionaire in just one year part 1/3

Daniel Wood: Property millionaire in just one year part 1/3

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Daniel Wood, Ben Chai

It’s funny how in a large environment certain people synchronise and vibe with each other.   Daniel Wood and I first met at the JT Foxx family event in Orlando, and somehow connected in spite of my walking around in a sleepy daze. We subsequently met at a Tigrent (Legacy Education) property education course on how to buy properties at an auction.

Daniel and his wife are a very focussed couple, serious about being successful and achieving their life and family goals. In fact, Daniel and his wife Gisela, are so focussed on getting to financial freedom that they worked phenomenally hard to obtain an asset base of nearly £1,000,000 in a year.

Daniel Wood, Ben Chai
Daniel Wood in the hot spot with Ben Chai

Near Millionaire in One Year

Frankly, being a near millionaire isn’t really as much as it used to be – however millionaire is still nothing to laugh about. The way Daniel talks in this live video interview, it may seem relatively easy; that almost anyone can achieve financial freedom with their eyes closed.  However, Daniel did have several challenges to overcome to get to near millionaire status.  These challenges are mentioned in parts one and two of these video interviews recorded live at the JTFoxx family event.  Here are a few of the challenges Daniel briefly mentions that he and his wife, Gisela had to overcome:-

  • Daniel and Gisela are international investors. Being an international investor meant that there were several financial and property research challenges at the start of their journey. The reason for these financial challenges is that Daniel and Gisela are unknown to the UK banks and lenders.
  • Daniel and Gisela are Swedish and live in Sweden. This meant that travel to and from chosen investment areas in the UK was a travel nightmare
  • Daniel and Gisela only had a seed capital of £20,000
  • Daniel and Gisela did not have the time to visit all the properties they invested in
  • Daniel and Gisela had no credit record for banks to lend to them
  • Daniel and Gisela have 10% mortgage rates compared to the 2-5% mortgage rates local UK investors enjoy.  In other words, the deals that they needed had to be exceptional deals.  These exceptional deals had to include mitigation of all the inherent risks that apply to property acquisition

Here is part one of Daniel’s story where Daniel shares a little about his background and how he built his UK property business by:-

  • listening to and putting into practice everything Daniel’s mentor told him to do
  • leveraging his contact base and the initial contacts Daniel’s mentor connected Daniel with
  • creating a power team of consisting of reliable sourcing agents, solicitors, and accountants
  • leveraging the sourcing agent’s own power team of builders, handymen, and letting agents

If you enjoyed part one of Daniel’s story then check out part 2 of this interview series.

In part two of our millionaire interview, Daniel shares:-

  • how he was able to raise the finance to achieve to close to a million,
  • how he was able to overcome the travel challenges the and
  • how he dealt with the massive challenge with problem builders and letting agents which Daniel was able to turn into profitable.

Inspired by reading and hearing about Dan’s success story? Then please do let us know with a comment. Remember to share this article with your friends to help them be motivated and inspired too.   In the meantime, if you enjoy reading about people’s property success stories check out the following articles:-

Or if you are interested in the lessons from other successful people who attended the JTFoxx family reunion event check out the following articles:-

Finally, if you are starting on your own financial freedom journey, you may also find the following articles from our library helpful in spring-boarding you into a new chapter of your life’s dream.

Image Credits: Ben Chai.

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