Would you change car and clothes to achieve better prices?
Discussion
I know of a chap in Derby who owns approximately 75 properties. Mostly they are HMO's and student lets in slightly run down areas of the city.
I was introduced to him at a works do and was surprised to see him turn up wearing a very worn out tracksuit. And I found out later he drives an Avensis.
Turns out after chatting to him that he was forced to change his daily car (Jaguar) and his clothes (suit without a tie) as he is buying properties at the cheaper end of the market and in his own words, "estate agents would try to wrestle more money out of him and tenants would take the p*ss with his rent." Plus he was always worried parking his nice motor outside properties he was renovating which he'd go an oversee most of them himself.
He says that he is fairly well known by most of the estate agents now so the first problem doesn't matter anymore but he said that whenever he turned up at tenanted properties with a nice car and clothes, they would see him as loaded and then come up with excuses why rent would be late the following month. The problem dropped away whenever he turned up looking like a chav.
Was wondering if anyone else ever felt the need to hide wealth in this way?
I was introduced to him at a works do and was surprised to see him turn up wearing a very worn out tracksuit. And I found out later he drives an Avensis.
Turns out after chatting to him that he was forced to change his daily car (Jaguar) and his clothes (suit without a tie) as he is buying properties at the cheaper end of the market and in his own words, "estate agents would try to wrestle more money out of him and tenants would take the p*ss with his rent." Plus he was always worried parking his nice motor outside properties he was renovating which he'd go an oversee most of them himself.
He says that he is fairly well known by most of the estate agents now so the first problem doesn't matter anymore but he said that whenever he turned up at tenanted properties with a nice car and clothes, they would see him as loaded and then come up with excuses why rent would be late the following month. The problem dropped away whenever he turned up looking like a chav.
Was wondering if anyone else ever felt the need to hide wealth in this way?
mrmr96 said:
I know that partners at some accountancy/law type firms are told to keep their Ferrari's at home as they don't want the clients to see them on the way into the office.
I don't visit my clients in my Evora. Although I doubt it'd make any difference there's no need to take the chance, that said, one or two are petrolheads and so do like it when I turn up in it. I suspect many people are the same.A friend of men has a shop in the middle of a grotty council estate, and owns a dozen or so houses on the estate.
He goes to the shop and the houses in a knackered old tranny van, and is always pleading poverty to his tenants/customers.
The reality is he is minted, all facade to keep the punters coming in - works like a charm
He goes to the shop and the houses in a knackered old tranny van, and is always pleading poverty to his tenants/customers.
The reality is he is minted, all facade to keep the punters coming in - works like a charm
The architect in the office next door to ours has just sold his firm for a seven-figure sum. He regularly turns up to work in a Vantage or a 1 year old Range Rover, but has an '05 plate 3-series for site and certain client visits.
I can understand that some people might be concerned about the prejudices of others perceiving them as flashy etc, particularly in a business context. Just common sense to try and put yourself on a similar footing to the person you're dealing with really.
I can understand that some people might be concerned about the prejudices of others perceiving them as flashy etc, particularly in a business context. Just common sense to try and put yourself on a similar footing to the person you're dealing with really.
I have always thought about this becuase I am reletively young and I often go see clients. Whilst I have a very restrained car at the moment (Polo) I am concerned at how it will look if I end up getting a CLS55 AMG or an M3 next year which I want to do. It would be my only car.
I know they are not massively expensive cars at this point in time (thinking of an 05-06 plate) but they once were extremely (to me) expensive and in my opinion, still look so. I dont want to be percieved as a flash t
t because in all likelyhood, any clients I see will just see a flash Mercedes/BMW and not have any clue as to what they cost now. Ive considered just parking miles away from any meetings and walking the final bit so no one sees! 
I know they are not massively expensive cars at this point in time (thinking of an 05-06 plate) but they once were extremely (to me) expensive and in my opinion, still look so. I dont want to be percieved as a flash t
t because in all likelyhood, any clients I see will just see a flash Mercedes/BMW and not have any clue as to what they cost now. Ive considered just parking miles away from any meetings and walking the final bit so no one sees! vescaegg said:
Ive considered just parking miles away from any meetings and walking the final bit so no one sees!
They'll still see sooner or later. Most when they're also driving in/out of their site.Not everyone (especially if they're not a petrolhead and are in a company car scheme) seems to understand the impact depreciation has on what people drive (or even that people have different priorities). Debadging can be your friend...
ATV said:
whenever he turned up at tenanted properties with a nice car and clothes, they would see him as loaded and then come up with excuses why rent would be late the following month.
I'm sure this is correct, having been defrauded by a HB tenant. They will take the view 'Well he doesn't need the money so I'll spend my bennyfits on a nice holiday for me and my fatherless brats'.Defcon5 said:
People at work think I'm minted because I have two cars, one of which is a VX220
They don't realise it cost 6.5k, and both my cars put together cost less than half what the brand new Fiesta one of the girls has just got. Yet its me that 'must do all the overtime'
I used to get that in my £3k 330ci They don't realise it cost 6.5k, and both my cars put together cost less than half what the brand new Fiesta one of the girls has just got. Yet its me that 'must do all the overtime'
I havent had negative feedback from clients but have from other trades. One electrician in particular seemed to have an issue with me arriving in a Porsche and set out to make life difficult. Having said that he was a complete and utter <insert your choice of expletive here> anyway so maybe I am reading too much in to it.
One of my competitors used to drive round in a hummer. I can tell you now I like to think I dont care what car people have but if anyone turned up to work on my home in a hummer they would be politely shown the door.
One of my competitors used to drive round in a hummer. I can tell you now I like to think I dont care what car people have but if anyone turned up to work on my home in a hummer they would be politely shown the door.
I'm a QS for a main contractor and I always have directors of subcontractors asking me for early payments or extra money paid to help with their cash flow issues. Now I'm not judgemental in general but I once busted a ball to re-do a payment for one to get him about an extra £500 (he claimed to be really short that week) then turned up to site the next day to see him pull up in a brand new supercharged range rover sport. He didnt know i was going to be on site and it did make me think different of him. The money I got him probably only went to fill him up a couple of times. Cash flow issues my arse.
vescaegg said:
then turned up to site the next day to see him pull up in a brand new supercharged range rover sport... Cash flow issues my arse.
He may have been right - his lease repayment was probably over £1000+ each month! His fault though.A couple of years after a set up my video business I had a couple of good contracts which meant I could go and spend £10K on a very nice 3-year-old XJ40 from a car auction. It looked just as good as when it had cost some mug £36K new, so when I went to see one client I did make sure to park it some way from the front door and walk back. Only when I got to his office did I realise I'd parked it smack outside his window! Luckily he's not the envious type and we traded for years
But really, if anyone is bothered by what I drive, then I probably don't want to do business with them.
People can be very jealous though and make assumptions. To be honest a lot of people might think someone with a range rover sport or evoque is loaded. I just see leases and debt and wonder how much liquidity they have to pay their bills. Thats my judgementalism there just being practical whereas a lot of people are just envious without thinking Hey that's a lot of debt or Hey that's a lot of hard work that's gone into that.
I can see how being Flash in front of tenants would totally undermine the position in respect of them thinking you could afford not to get the rent in. You'd need some window tints and a pair of grizzly bear security guys to reverse that.
I can see how being Flash in front of tenants would totally undermine the position in respect of them thinking you could afford not to get the rent in. You'd need some window tints and a pair of grizzly bear security guys to reverse that.
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