How to buy properties for nothing.
You all are familiar with the fact now that I am a self-made millionaire and a property advisor. One of the most talked things about me, in newspapers, on the internet, at events and I have been asked to speak about it all the time that how I have built an enormous property portfolio without any capital investment. And in this article, I am going to guide and give you a small lowdown of how it is possible to buy properties with no money and what made it possible for me to be a millionaire before I turned 25 so first things first.
How do you buy a house without using your own money?
The first solution is to go for an option known as lease option agreement which means that you buy a house, but you don’t have to pay for it right away, and you are given an option to pay for it later. You must be thinking about how it is going to help me build a property portfolio?
If you are going to buy a house and start living in it, then it will be a liability and not an asset, and it will not help you earn any money. The profitable option is to buy a house and rent it out, and later you can save that rent money to pay for the downpayment when the lease ends. The fantastic thing with a lease option agreement is that you are not obligated to buy it at the end of the lease; this is how I got some of my early properties.
Another way to way to achieve this goal is to hunt for the properties which are great investments, use your negotiation skills to lower its price below the market value and instead of buying them yourself you can find people who are interested in a joint venture with you but what skills and homework you need to build a trustworthy relationship with your potential partner?
What I used to do is negotiate the best properties and projects, and I would tell them I have got the best team, adequate knowledge, the inclination and I am investing all my time. Later I would propose to them to invest in the project on a 50-50 partnership.
I would do all the work, and the profit would be divided into half between both the parties. You must be wondering yourself, and you would hear all this negative that it is too good to be accurate and it is never going to happen in the real world, but it is not valid. I am 29 now, and I invested a million pounds last year in other people’s deals where they do all the work, and I become their investor, and we mutually decide on the profit percentage sharing terms. This is the way how a joint venture works.
One of the famous sayings of Warren Buffet can be summed up that you can always control properties. There is another option too. You can take over a property that you don’t buy or own, you offer the owner a guaranteed rent for a more extended period and convert it into something like a house of multiple occupancies that is how you benefit from the cash flow and if this works well for you, you can ask to change it into a lease option agreement by buying the house with the saved money.
In all these years, I have discovered multiple ways to own a property with no money. The next one I am sharing with you all is to create package deals and share it with your potential investor and charge them a fee for your services. Continue this cycle and do that multiple times and save that money to later put down in your property.
Most successful people these days, multi-millionaires invest in the property business. All the millionaires out there in the world are self-made, so now is the time to be creative and create your way and not worry about having no money or anything else at all.
These days I am renovating a castle on approx 8 acres of land which I creatively financed and bought it for eight hundred thousand dollars a few years back, and now its gross development value will be 6,35 million and using all these ways as mentioned earlier I am going to refinance and pull my money out after some time.
Learn and use all these strategies like joint venture lease option agreement, rent to rent and deal packaging if you want to be successful. I don’t believe in conventional ways of owning and buying a house by paying the mortgage and till then when you are done with it; it’s already time to retire. I believe in joint venturing and partnerships to use other people’s money to grow bigger.
I am aiming to make a video about how to make money from a bank and make it profitable. If you also want to know more about this castle that I have mentioned above and all these incredible facts about how I financed it and all about its renovations I am planning to write a new article and record a video for my youtube channel. Smash the like button, subscribe to it and hit the bell icon for more updates about my videos about property advisory.
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