Today we’d like to introduce you to Gisela Wood.
It’s an honor to speak with you today. Why don’t you give us some details about you and your story. How did you get to where you are today?
I am a property investor, entrepreneur and co-founder of Momentum Property Education. Trying to do something different isn’t always easy, we had a lot of challenges and setbacks. We started out investing in property and sadly we made a lot of mistakes. In 5 of our first 10 deals we were taken advantage of by partners. The problem was that we live in Sweden but were investing in the UK, we didn’t do proper due diligence on our “so called” partners and they ripped us off, causing us loses of over 400 000 GBP.
It took a long time to turn our business around but we were very blessed to get support from amazing people like Kim Kiyosaki, Randi Zuckerbergs team, the Tony Robbins organisation, Arnon Barnes, Deri Llewellyn-Davies among others.
I’m sure your success has not come easily. What challenges have you had to overcome along the way?
I think the hardest part was telling the investors about what had happened. Our accountant advised us to bankrupt the company, write off the debt, but that would have meant that our investors, the people who had trusted us, would have lost everything. We didn’t want to do that, instead we sat down with each and explained what had happened and our plan forward. They weren’t going to make a profit from the investment but they would get their investment back.
Thanks to the help of our amazing mentors we were able to start doing new deals and turning the business around. We learned some key lessons, that I would like to share and that I hope anyone reading this article will follow so they don’t make the same mistakes we made.
1. Always, always do your due diligence on your potential partners or team members, who are they? What have they done before? What is their reputation? Do they have the proper education and/or licenses? And always ask for references!
2. During the project, follow up! Make sure you get weekly updates, including pictures and if needed survey reports.
3. Involve multiple people in the project, don’t just trust one person. Have your lettings agent view the project during the refurb, have a friend go by and check it out and if possible, do an impromptu visit yourself.
Let’s talk about the work you do. What do you specialize in and why should someone work with you over the competition?
I think what makes us at Momentum Property Education is that we don’t hide our mistakes, instead we learn from them and we share those lessons with our students. Many make investing sound easy, in truth it is anything but. With the right contacts, support and knowledge, it is something you can succeed in though. You just need to know what to expect, how to handle setbacks and how to successfully build your portfolio, step by step.
What’s your best piece of advice for readers who desire to find success in their life?
Find a quality mentor who can help guide you, that can show you what mistakes to avoid, give you a step by step process and connect you to people who can help you reach your goal.
Speaking of success, what does the word mean to you?
For me it is having the ability to control my own time and spend it with my family. That is why we started investing and why we became entrepreneurs. I think everyone has their own definition of success, we were all put here for a reason and once you find your reason, the journey becomes very exciting.
What’s next for you?
We keep improving our courses at Momentum Property Education, it has been so exciting to see the success of our students and to continue to give them support through different funding sources, new contacts for deals and more systems to help make their investing easier. We keep working on this and have many more projects coming.
Finally, how can people connect with you if they want to learn more.
Easiest is to check out our website https://www.momentumpropertyeducation.com
Follow us on Youtube at https://youtube.com/c/momentumpropertyeducation
We also have a free online course the “3 simple steps to property investing” that will help you start your property journey. You can find it at https://www.momentumgift.com