Right, I need a rant. I can’t bare this ridiculous complaining about #ventyourrent. The trolling that I own property. The constant talk about owning a home and how it’s so unfair that property prices are extortionate and that you only get paid pennies. That it’s everyone else’s fault that you couldn’t possibly buy a property (or that the ‘Home Blockers’ are taking up all of the good properties) Let me give you some home truth…
I’m technically classed as a millennial… it’s a person who reached early adulthood in the 21stcentury. Tick, that’s me.
Apparently, I eat avocado for breakfast, live in a house share and don’t get paid nearly enough to get on the housing ladder.
Ermm… well yes I love smashed avo plus a sprinkling of feta. I live with my man (is that classed as a house share?), I don’t know anyone who thinks they get paid enough…. But yet I’ve brought a number of properties off of my own back…. Yes, that’s me in my own entity as Natasha Collins, not me as part of a couple.
How did I create that magic in order to mysteriously buy properties which my fellow millennials can only dream or troll about?
Well, I got my sh*t together and worked hard. I found ways to get the money. I invested wisely and low and behold by 22 I brought my first London pad.
I have never ever been a saver. Seriously, I was never able to do it. I’m far better now, but practice makes perfect. So I have to rely on large sums of money making their way into my bank account.
Sounds crazy right?
Well not really, I just had to learn how to go about things a different way. For starters, I had a job that was bonus driven. So I worked hard, I got paid a good bonus. Simple really. The more money I earnt for the company, the more that ended up in my pocket. 4 years it took me to work out how to get the big bonuses, but after 4 years I was rewarded with £50k which was 20% of my annual earnings of £250k (yes I had to negotiate that bonus scheme and yes it took years to show my worth).
However, before that, I had to learn how to get money quickly. So, I learnt about leveraging. How to use other people’s money to buy a property. This worked well as I had a plan to find the money and a plan to repay it quickly, so no one was ever out of pocket.
That’s where my property investment journey began. There was no magic, just educating myself in the skills I needed and perseverance. Oh, and a sprinkling of a tough girl attitude as you have to stick to your guns.
Which is where winging millennials come in. I’ve never ever had it easy. My parents aren’t multi-millionaires. In fact, up until I was 13, we had a family income of less than £25k. It was all on me to get my act together and build the empire I wanted.
But here’s the thing:
- I couldn’t buy my dream house, I brought good investments, which would be the stepping stone to my dream property later on in life
- I never ever wanted a mortgage over £1,000 so I could preserve my lifestyle and so had to buy in locations which allowed that
- I’ve not been fussy about having my forever home RIGHT NOW, I’ve lived in flats and that’s perfectly fine
Buying property is just maths and good investment strategy, everything else comes second.
If you want to buy a property, go do it. Toughen up, stop complaining. In times of flexible working and incredible internet, you can negotiate working from pretty much anywhere (if you put your mind to it). So, do that, then find a place you can afford to buy, don’t wait for the affordable to come to you.
But also remember, mortgages are annoying. They can trap you, make you feel like you are constantly working and put huge pressures on you if you are having a bad month. Also, homes aren’t easy to buy and sell quickly… you need out, or want to move quickly, it’s probably not going to be an option unless you want to make a loss.
The idea of home ownership is fine, but that’s all it is. It can be a burden as well as an aspiration, so make sure it’s what you want.
There’s absolutely nothing wrong with renting. In fact, it’s perfectly fine. If you think your life is going to change or you want some flexibility then do it. The benefits are that someone else has to worry about the mortgage and maintenance.
However, if you do decide you want to go out and own a home. Fabulous. Work out how much £’s you need as a start and then figure out how you are going to get there quickly. Goals that take 20 years are boring and usually unfulfillable. Goals which take 6 months are exciting and actionable.
Get going. Make decisions. Go to viewings. Talk to your bank. Pool your money. Leverage everyone else’s. Sell stuff. Take on extra work. Earn commission through affiliate schemes.
There are so many ways of doing it.
Just stop winging. When you start winging you are basically telling me you can’t be bothered. And that’s fine. You don’t need to own a property, seriously, no one is judging you for it.Yet, if it’s your dream. If it’s what you really want. Then act now. Don’t dither, winge, troll. Just get on with it, you’ll get there quicker!
If you need help buying your first property, come and join me in the Property Investment Mastery Facebook Group. It’s the place to be to build a property portfolio from £0, no matter whether you want to live in it yourself or not!