You will never get wealthy in property without borrowing.  I see many “builder” type property investors that believe in starting off slow, buying one distressed property for cash, doing all the repairs themselves and then selling on for a profit (to someone like me!).
 
These type of investors are lucky to get to £1m profit in 10 years – which ain’t bad but that’s one hell of a 10 year workload.  However if they had held on to these properties they would be worth £10m AND kicking out £1m a year in rent.
 
I regularly buy off these builder types as the properties are in tip top condition so they are mortgage friendly, letting agent friendly and tenant friendly as all the hard work has been done for you.  All I have to do is come up with the deposit, borrow the rest, hand over to the letting agent and earn £100+ profit per month for the rest of my life!  It's purely a paper chasing exercise. EASY.
 
So where do I get my deposit monies from.  Well I:
 
1. Remortgage my current portfolio by speaking to Liz, my broker. (CLICK HERE TO SPEAK TO HER)
2. Get 2nd Charge lending on my personal home (CLICK HERE TO GET A NO OBLIGATION QUOTE ON 2ND CHARGE LENDING)

If you need help in building your strategy then call us on 0870 990 3205.

Ajay.

Join Ajay’s daily newsletter

Get live property investment deals, free courses and property investment tools sent straight to your email inbox at no cost every single day.

Your Name:
Your E-Mail:

Posted on: 9th Mar 2008