There are 3 ways you can buy properties with no money:
- beg
- steal
- borrow
I do not think the first two ways are very effective so the only way you can do this is BORROW!
Now we are in a credit crunch so your options are not great. However finance is out there for the determined. You need to find the deposit first. Sources of deposits can be:
- from your own home
- from your existing portfolio
- Get unsecured loans, credit cards and overdrafts
- selling some of that expensive jewellery you never wear or car you never use
- Saving hard from your salary
- borrowing off of family members
- doing joint ventures with business people who have some money
Now if you need help with raising the deposits money then speak to my in-house broker Lynne. She has been recently recruited to help specifically anyone who is reading this message i.e. the Ahuja Group Readership!
If there is a way of raising a deposit from your current assets she will be able to work out a way to do so. Se also has access to unsecured lenders. These lenders will knock back most but if you are a clean living doctor with no mortgage and pray 10 times a day then you might get accepted!
Secondly you need to get the mortgage. Surprisingly enough Lynne can help you with this also! We have access to the full buy to let mortgage market AND the commercial market also.
The commercial market is where the lender (one of the high st banks) assesses you individually and takes a punt on you. No automatic credit scoring and a "computer says no" moment. We can prepare a case why one of these lenders should lend to you.
If you go to these efforts to get finance then I am so god damn sure you will make money in the medium term. This period reminds me of the year 1999 when I really got going with buy to let. Prices in CERTAIN areas were really cheap. Not only that no one wanted them at the really cheap price.
I used to ask myself back then "am I missing something here?" as it was really only me who wanted to buy. It is these actions that took me from owning 3 properties in 1999 to 100 properties by 2003. And as they say the rest is history.
The big difference now is I am 10 years wiser in the game and I am seeing the same prices again. All I do not know is if prices will bounce back or drag back up over a long time.
My honest answer to this quandary is I do not care! Prices will rise at some point however all I am interested in is the cashflow. Always have been always will be.
So if you are wondering whether being on my email newsletter was ever worth it for all the bombarding of emails you get from me(!) then this email should answer it.
Whether you use me, someone else or go it alone (I recommend all three!) to find property deals, make sure you do it. Do not look back at 2009 and think "how did I not see how cheap prices were back then?"
If you want to use the Ahuja Group then let me know.
Posted on: 8th Jul 2009
del.icio.us
digg
Furl
Facebook
Reddit
Yahoo
Spurl
Smarking
Simpy
Stumbleupon
