Lessons Learned from a $500,000 Rip-Off with Daniel Wood
Have you ever been ripped off?
This is the greatest fear of most real estate investors. Unfortunately, Daniel Wood knows all too well what it’s like to be taken by a charlatan investor. He hired a “coach” for his first deal and was promptly ripped off for $400,000 pounds or about $500,000 USD.
Now, Daniel Wood is a specialist in raising capital for real estate (or finance for property as they say across the pond). Over the past decade, he has raised over $10 million pounds (~$12-13 million USD) for property investments. He launched Momentum Property Education to help others navigate real estate investments, raise capital for deals, and grow a portfolio. Being based in Sweden, the local regulations made it difficult to invest in his country, so he chose the UK as his focus. In this episode, he shares how he was ripped off for $400,000 pounds, how he invests from afar, vetting partners and team members, and how he raises capital for deals.
Partner: Download our Sample Deal Package
How Daniel Wood Bounced Back from Being Ripped
Investing in UK vs. Sweden and why
Getting started in real estate investing and getting ripped off for almost half a million dollars
Restructuring his debt when faced with bankruptcy, while not letting his investors down
Tips on vetting team members and how he chooses his partners
We trust but verify our partners through a detailed process.
Daniel walks through the criteria he analyses when picking a partner
Must have at least 10 years of experience
Current licensing and insurance in place
Have a full team
Good local reputation
Working with partners who have built their own business is in a better financial position and have the ability to bring their own credibility to the table.
Protecting yourself when putting together a deal
Recognizing the red flags when vetting a potential partner
The properties that Daniel invests in and why
The project management process he has created and how it works
We incentivize our contractor and project manager by offering a bonus if the project comes in under budget or early, or a penalty if it comes in late or over budget.
Ways to source capital in 4 categories:
Your own money
Creative capital (crowdfunding, cryptocurrency)
Get in Touch with Daniel: