9 Property Secrets That ACTUALLY Make You Millions
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- čas přidán 27. 06. 2024
- Our property sourcing service: propertyhub.net/invest
If you ask a property millionaire how they achieved their success they’ll probably say something like work hard, be patient, and think long-term.
And this is true, but surely there’s more to it than that. After all: lots of people work hard, but how many of them do you see driving around in Ferraris?
Well over the past decade we’ve spent in the industry we’ve witnessed the creation of property millionaires first-hand, and from observing them we’ve put together a list of specific, tangible rules that you can start using today to kickstart your journey to that magic million.
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I spent 40 years doing other peoples houses up, on a wage, it took me 4 years to get rich doing my own houses up, the rents are the job side of btl but the property’s go up in price doubling every 12 years, it helps being a plumber
Houses might not go up 100% in the next 12 years though. Then again the stock market also might not. Who knows.
Rule nr 1, and it is the only rule that actually matters: have capital beforehand.
I am one of those landlords that wants to sell. I have property in Nottingham, Derby, and between Manchester and Leeds and I'm over retirement age. I have no desire to waste my last breath of life (hopefully a good 10 years from now, chasing tradespeople. )
Hi my tax advisor has a company that buys shares and property from retiring landlords to save them money.I know she's looking in and around Leeds DM if interested
you give such good advice
I love to watch his videos. I always learn new idea about property investment. 👍👍👍
Hi, great video thank you. When you talk about the magic million and being a property millionaire, are you reffering to having a million pounds worth of assets or a million pounds worth of equity within the assets?
What’s the ideal purchase price for the properties you would like to own and what is your definition of a cheap property
Is it wise to have agents manage the tenant sourcing, vetting and.property maintenance?
I feel like the 18 year property cycle is unscientific. Isn't it just a correlation?
I am a first time buyer looking to buy to let. I live in south west london, but I was hoping to buy in nottingham. Will it be a problem as a first time buyer?
i dont really understand why you didnt mentioned about the interest rate if you buy house as mortgage when you look at long term appreciation value of the property. IF you buy house of 450k and borrow 300k of it at the current rate, let's estimate 4.5% you need to give back 500k back of mortgage, so you like if get reseel your asset next 15. or 25 yrs.. you should get slitly positive equity, in general.
If you pay cash then its different ovbsly
Rule no 10- dont use interest only mortgages then you never have to sell
You don’t have to pay the capital back on a buy to let loan until you are over 100. As long as the rent pays the interest you can just keep going.
If you have an interest only mortgage on your personal home you will need to repay the capital on retirement.
Why do flats where i live sell for less today than they did 18 years ago? I live near Blackpool. Houses are significantly higher but flats are lower. Doesn't this disprove the 18 year property cycle?
Probably because Blackpool has the highest concentration of heroin addicts in the UK, who require to live in the flats
They may be leasehold . The shorter the lease , the less the price .
@@simpso0ns nope. I'm talking real comparisons that are town wide using Rightmove and also new builds from that era compared to now. Yes, some have risen, but some have fallen too 😕
Blackpool is horrible mate 😬 hope you get out of there fast
@@LondonLad. Let's compare them - one flat in London for 600k or 10 flats in Blackpool for the same?
1 lot of rent in London might be nice, but 10 rents is definitely always going to be significantly more stable and obviously higher. Now, I don't own 10 at all, but realistically the numbers scale
18 year property cycle??
Check his demeanour and it seems this is a very nice guy. Listen to what he’s saying though, and the scumbag landlord trope is looking very much like reality
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