How to START Property Investing [Step by Step Guide]
45Ever wondered what steps you can take to ACTUALLY START property investing? Well in this video I lay out, step by step, a guide to actually start investing in property.
Firstly, you need to start saving, other than a few complex strategies with low success rates, you need money to buy property, it isn't free.
Saving more comes in two forms, saving money and earning more, to save more money, download your recent statements, classify your expenditure and cut back.
Or, you could pick up a second job, drive for uber or deliver for deliveroo, maybe start a small business or even a YouTube channel, even if you make an extra £75 a week, thats £300 a month or over £3,000 a year.
If you invest £3,000 a year for 5 years, at a compounded rate of 20% per year, you'll have nearly £27,000 to invest with.
Step number 2 is to research, research property investment strategies, taxes, refurb costs, location etc etc. This way you'll be able to learn about property investing for beginners.
The more you research, the more you'll be able to recognise a good deal, the more you can recognise a good deal, the easier property investing will become.
Step 3 is to set a target income and break down exactly what you need to do to reach that income.
Step 4 is to put property investment beginner plan together, in detail. What location are you going to invest in? what timescale are you working towards? what if the best case scenario doesn't happen?
Step 5 is to learn your market, and the property prices in your area, this way you'll be able to recognise and find a good property investment deal.
Step 6 is to build a reliable team as this is one of the key parts of property refurbishment and property development.
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