Let’s be real… you don’t always have the money in your bank account to buy a property. Or sometimes it maybe that you’ve got a savings plan, or that you just don’t have the time to go out and raise capital, because life happens.
It’s OK. It happens to me too… I’ve (We’ve) just paid for a wedding. That’s a small deposit for a property spent on a day out.
Not that I’m complaining, it’s definitely going to be a day to remember… and really, how much is a once in a lifetime experience worth?
Instead, as you will have seen from last weeks email. I’ve been joining forces with other investors and spreading my money through different projects. Developments, BTL’s, a small commercial deal.
I’ve either been swapping my money for a % of the deal (therefore a % of the profits) or for interest of anywhere between 9%-18%.
Each time, I’ve had my solicitor tie up the money with either a personal agreement with the person I’m working with or as a charge over the property. Which gives me a security.
I also don’t have to invest as much. The lowest I’ve invested is £3k and the most I’ve invested is £25k… but over the next 12 months that should make me a healthy income plus my initial investment back.
Which brings me back to my original point. You don’t actually have to buy a property to be investing in property. Lending your cash, or working with someone else and investing in a company owned by all of the investors also makes you a legitimate investor.
Keeping your money in your current account doesn’t do anything for your growth. You need to make your money work for you. So even if you just have a little bit sitting around, that for the next 12 months you aren’t going to need, then start collaborating with other investors. Get involved in deals… even if it’s just for the learning experience of a new property type that you are interested in.
And hey, in every circumstance I’ve been involved with, the person borrowing the money always pays any fees associated with contracts and security… so you won’t be out of pocket for that.
Why not try it? What can you do to grow the money you’ve currently got without putting yourself in a vulnerable position (i.e. don’t over commit!). Let me know by hitting reply!
Can I let you into a secret… I’m going to be launching an awesome video series in the Property Investment Mastery Facebook group from the 26th July. Make sure you are in the group now so that you are ready for it!!
P.S The Members Club is opening up soon! Get on the waitlist while you still can, as there are bonuses for those who are there when the gates open!!