Now lots of professional investors do no.2.  they convert buildings, repair wrecks and then remortgage and get all their money back (and more sometimes!) and then move on to the next project.  They never sell.  They just keep what they have building an empire as they go.

 

The lazier way is to do no.1.  You just buy.  Not buy, refurb and remortgage.  Just buy, then buy some more and then buy more again.  You are not constrained by your workmen or the banks mortgage lending department.  Nothing can delay you.

 

So you can become rich by simply buying and buying.  This is what I have done and will continue to do so.  Yes I do have to do refurbs sometimes but this is not at the core of my strategy. 

 

The reason is I am an white collar investor.  I have never got my hands dirty!  I have never painted a wall in my life so I have no real understanding of colours, plasterboard, edging etc.  I have no interest. 

 

Start talking to me about rates, return on capital, options, assignable contracts and beyond bridging finance and then you have got me! 

 

So have a think about what your clear strategy is.  What are your goals and what you want in life and how you are going to go about getting it. 

 

For those who want to explore more about what I am talking about and property investment have a look at my freebies page.  I talk about whether it is a good time to invest, opportunity cost of money and goal setting.

 

Speak soon.

 

Ajay

Posted on: 19th May 2009

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