I started with very little, but now have a net worth of $27.6 million. It has been hard work, but it is possible for anyone with the skills and correct mindset. I would like as many people as possible to become rich as well, so I have created a ‘how to become rich with no money’ guide.
The full guide is in the form of a video on my YouTube channel. I highly recommend watching the full video (above) until the end if you want to follow my exact steps to becoming rich.
1. How To Become Rich With No Money: Education Stage
The first step is learning. You need to read and study as much as possible. When I first started learning about property, I attended a lot of property courses. This cost me thousands of pounds. People laughed at me, but they were going to University, racking up tens of thousands in student debt. Many of those people were doing degrees in subjects that were unlikely to result in a career, never mind a profitable business!
If you have no money for courses, you may wish to skip to step two and do some of the easier forms of property entrepreneurship to raise the funds. Once you have the funds, come back to step one.
2. Property Entrepreneurship
When I started out, I wanted experience. I worked on a building site for a few weeks. I worked at an estate agent. I then took my first steps into property entrepreneurship by finding tenants for landlords. This is something anyone can do with a little hard work. Find a landlord with empty rooms and offer to find them tenants on a commission basis.
A more advanced strategy is deal sourcing, this is where you find a property deal and then pass it on to an investor for a fee. For this strategy, I would highly recommend attending high quality property training before attempting your first deal.
3. Buy Your First House
The first step now you have some capital, is to buy a house. Not a house to live in, but rather an investment property. One of the benefits of buying a property is the leverage you get. On average, property prices double every ten years. You can access that upside by refinancing the property or selling. But you haven’t simply doubled your money, you have made much more than that! Remember, you only put down the deposit, so the actual return on investment is much higher!
4. Use Other People’s Money To Grow Your Portfolio
Now that you have proven experience and own at least one property, it is time to find an investor to joint venture with. If you can find a brilliant deal, there are plenty of people with money that are happy to be the passive part of a partnership. Find a property that can be refurbished and refinanced, pulling all, or most, of your investor's money out. Then, you can repay your investor and then own the property on a 50/50 basis with them!
5. Property Development
Once you have done a number of joint venture deals, it's time to become a property developer. The government love property developers because of the lack of homes currently available. This means they try to make things easier for you, rather than harder. This is also where the big money is made.
If you would like to learn more about how to become rich with no money, why not book on to my next training event?
On the course, you will learn how to:
Become a property investor using other people’s money so that you can get started straight away
Utilise the 5 different types of raised finance so that you know exactly what to offer and when
Find the perfect properties for the BRR strategy
Recycle your money so that you can ‘rinse and repeat’
Build a power team you can trust, so that you can save time and money
And much more!
Tickets are only £1, and you can get yours here. If you are ready to take action, I hope to see you very soon!