Thepropertydevelopmentcourse.com

* This episode was archived June 2019 and is only available for subscribers If you are working in construction and property you will inevitably come across people who have a lot of wealth They may hire you as a builder or Architect or consultant But don't be impressed by wealth. Wealth or the appearance of wealth can be an illusion, here today gone tomorrow Bernie Madoff had all the appearance of vast wealth and success but in truth he had nothing and was a fraud. He was responsible for the biggest Ponzi scheme in history and his actions led to thousands of investors losing a lot of money. What you had Madoff as a client or one his investors as a client. All very rich people one day, the next nothing. So make sure you don't get fooled by appearance of wealth or even actual real wealth. If you provide a service or a product make sure you get paid first or at least always attach risk to future payments that they may never get paid So in short, adopt good cash flow and accounting practices so that if you ever d