Many people invest on their own doorsteps because they feel that they know the area. It’s comfortable to be close to the action so that an eye can be kept on things, especially when it comes to serviced accommodation or hospitality based investments.
On the other side of the deal, there can be a concern regarding angel investors, and how swiftly they can be repaid. This seems to be a very common fear that generally manifests itself through several factors:
“I don’t know any angel investors, and I don’t know where to find them” and “If I do find an investor, how do I go about repaying their investment?”
This is the vicious cycle that people have in mind when beginning their property journey. They feel that this central conundrum is too difficult to overcome. It is the driving factor in people abandoning their property investment aspirations and returning to the world of full-time employment, which seems like the more comfortable situation.
People fall back into the practice of “Save Save Save”, before realising that the more they earn, the more they spend. This results in never having enough to save capital in any meaningful way, essentially blocking entry into the world of property investment.
After receiving a lump sum through inheritance, James realised that he had enough to buy one or two houses. Being based in the south, he reasonably concluded that investing on his own doorstep – London and its surrounding areas – would mean a slower progression in terms of deals, and a more gradual return on his available capital. After careful investigation of nationwide property prices, the decision was made to head towards the north in order to seek out the rather more cheap and cheerful deals – houses of around 40 – 50 thousand pounds – in order to get started.
It was a case of cutting his teeth on deals like this to begin with, and using these initial investments as a springboard to building knowledge.
Coming to understand how things work leads to a greater sense of confidence, and with the added benefit of a mentor close at hand, it is simple to upgrade, up-skill and move onto bigger and better deals. This led to a swift progression in strategy – from buy-to-lets and HMOs (houses of multiple occupation), and subsequently into commercial investment – encompassing a three-step process.
As ever, to find out more about the strategies involved, and to increase your property knowledge and education, make sure to attend the next 90-minute free webinar, devoted to diving deeper into the topics discussed today.
The Property Wealth System is a collective of active investors who have reached their goals following this system and want to help you achieve the same for you and your family.
We Post advice every week on our youtube Channel to help get you started and inspired with your property journey.
Our weekly Podcast “This Property Life” is a one-of-a-kind podcast we tell the stories of ordinary people doing extraordinary things in the world of property investment. No gurus. No big egos. Just life-changing success achieved by real people just like you.
Want To Learn More?
If you’re ready to learn more, sign up and attend our Kick Start Your Passive Property Income Journey Webinar. Our expert property investors, mentors and trainers will show you the 4 Step System that property investors need to know for success. If you’re already got your feet in the game, and you want to close any gaps in your property investing knowledge. Then, enrol in our sort-after 3 Day Intensive Property Training Programme to learn how to earn even more and go to the next level. We’ve got so many brilliant success stories from people just like you. Spaces are limited for both training sessions, so register your spot now and don’t miss out. Cheers to you and your success.