How To Make Your First £100k: Making your first £100K is the hardest milestone in business and property investing – but once you crack it, everything changes!
In a recent video, I explain how to get your first £100k, and then how to use it once you have it! If you want to build a property portfolio in the UK, make sure to watch the video until the very end.
You can watch the video on this blog post, or on my YouTube channel. If you watch it on YouTube, drop me a comment letting me know where you are starting from, and what actions you will take as a result of the video.
In this article, I will explain how to make your first £100k, then I will show you how to turn it into a property portfolio! By the end of this article, you will be ready to get started, no matter how much money you have right now.
Many people are struggling, not because of a lack of opportunity, but due to a lack of financial education. I know this information could really help them, but it needs to get to them first!
Please will you help me get this article to the people who need to see it most? Please tag 3 friends who are hard-working action takers, but could benefit from learning these strategies. You could change someone’s life, and they will thank you for it. Sharing our content makes a big difference, so thank you for making an impact.
How To Make Your First £100K!
1. How To Make Your First £100k: Underwriting!
If you have some capital, underwriting auction properties is a great option. This involves making a pre-auction offer to act as a “safety net” for the seller by offering to buy the property at a set price.
You only buy the property, however, if it doesn’t sell at auction. If the property does sell for more, the upside is split between you and the seller!
2. How To Make Your First £100k: Deal Sourcing!
If you don’t have any capital, but can find the deals, deal sourcing is a great way to make your first £100k. This involves finding great property deals, and then selling that information to investors for a fee!
3. How To Make Your First £100k: Joint Ventures!
If you don’t have the money, but you do have the time and the skills, partner with someone with the money! You do the work, they put in the cash. You split the profit 50/50!
How To Turn £100k Into A Property Portfolio!
1. How To Turn £100k Into A Property Portfolio: Buy A Property For Cash!
Now you know how to make your first £100k, use the money to buy a property for cash. This could be a small buy-to-let property in the North of England, for example.
2. How To Turn £100k Into A Property Portfolio: Get A ‘Hunting Licence’!
Next, you will need to get a ‘hunting licence’ from a lender. This allows you to use your property as collateral to secure a loan. The loan however only goes into effect once you find a property to buy.
3. How To Turn £100k Into A Property Portfolio: Buy Property At Auction!
Buy a property at auction that: needs refurbishment; requires a lease extension; or is a potential commercial-to-residential conversion.
Use the finance from the first property, plus a mortgage on the new property to pay for it. You could also use investor finance, offering the investor a second charge on your first property.
4. How To Turn £100k Into A Property Portfolio: Refinance The Property!
Finally, push the value of the property up by: doing the refurbishment; extending the lease; or converting the property into a residential home.
You can now refinance the property at the new value. If you do this correctly, this means you can pull out your initial capital. Then you can pay off the loan on the original property, and start the process all over again!
How To Make Your First £100k: Get Trained!
Now you know how to make your first £100k, and turn it into your own property empire! However, you will need some property knowledge first. Luckily, I can help with that! Join me at my next introductory online training event!
We have different online trainings throughout the year, each teaching different things. Here is a sample of what you could learn on one of our online introductory webinars:
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The SECRETS to becoming a successful property investor
Get immediate and actionable insights to accelerate your property investment journey.
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How to LEVERAGE other people's money to get started
Begin to understand the strategies to use to reduce the barriers to getting started.
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How to FIND fantastic property opportunities
Understand where property professionals source the best deals.
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How to RECYCLE your money again and again
Don't just do it once, repeat the process to build your property portfolio.
Property investing is not just for the rich! Learn the strategies that thousands of people have used to not only start investing, but become financially free! Tickets are free, so book your property training webinar now. If you are ready to take action, I hope to see you very soon!
