Hey guys,

There’s nothing worse than someone who doesn’t practice what they preach and I must confess that I have learnt a valuable lesson this week.

I am constantly telling people to watch their cash flows closely and I am normally very disciplined about my cash flows but the past 3 months with us moving office, the business expanding, christmas and the fact that Arlene has been away in Australia planning our wedding for 2 months, it has meant that I dropped the ball and didn’t check that I was receiving my rent from all my tenants.

Now I don’t tell you the reasons why my system fell down as an excuse or justification, I tell you because it is so so easy to let other ‘more important’ things at the time get in the way and very quickly three months goes by.

>>> The article continues below <<<

Want even more property ideas?

People just like you are looking for a simple and secure way to invest in property without the need to spend countless researching, building relationships and managing the process of buying.

Our mission is dead simple: to give you all the free education you need in one newsletter so you can begin the process of building your property investment portfolio -- whether or not you purchase property through us.

Begin the process right away -- enter your details here to receive Brett's 'set and forget' property ideas newsletter, emailed direct to you weekly.

Your first name: (req)	Your last name: (req)
Your email address: (req)	Your contact number: (req)
And finally, in an attempt to reduce the level of spam we’re receiving through this signup page, could you please answer this simple question: What does 1 + 1 equal?

(Note: This is a private mailing list and will never be sold or given away for any reason. You can also unsubscribe at any time.)

Well in the five and a half years that I have been in the UK I have never had a single tenant miss a rent payment by more than 30 days, I was always on top of them straight away.

Anyway I sat down on the weekend to check my accounts and realised that one of my tenants has not paid rent for three months.

I should have been on top of it inside the month, anyway when I spoke to the agent who spoke to the tenant, the tenants answer was ‘Yes, I am aware that I hadn’t paid!’

Anyway we issued the Section 8 notice; that’s to tell him to vacate the premises within 2 months because he had breached the terms of the Assured Shorthold Tenancy and the agent is organising how the tenant is going to catch up on the rent arrears.

It’s funny in all the time that I have owned property this is only the second time this has happened and both times has been when I took my eye off the cash flow. Life kind of operates like that doesn’t it…

So I am again practising what I preach having learnt another valuable lesson :)

Live with passion,

Brett Wood

Latest blogs

• See all...
  • The perfect complement to your off-plan purchase: the deposit bond
  • Brett and Arlene's Wedding Photos.
  • My new book cover: Have your say!
  • New Video: Weekly Property Update - 11th Nov 2008
  • Dirty Rotten Bast&^ds... Important message for those with a flexible facility.