A lot of people are just getting started in their business investment journey. To help them, I have made a video on how to make your first 100k. £100k is a good starting point for anyone wanting to secure their financial future. Indeed, the late great investment titan, Charlie Munger, said “It’s a b—-, but you gotta do it, I don’t care what you have to do — if it means walking everywhere and not eating anything that wasn’t purchased with a coupon, find a way to get your hands on $100,000.” Munger was talking in dollars, but the principle remains the same.
If you want to find out how to make your first 100k, I highly recommend you watch the full video (above) until the end. It contains important details that will help you reach that 100k target as soon as possible. In this article, I will give you a simple plan for how to make your first £100k as soon as possible. If you find this article helpful, please consider sharing it on social media. The schooling system doesn’t teach financial education to the masses, so it is our job to spread this information as far as possible!
1. Education
I think the best way to make your first £100k is to start out in property. Property has a lot of money flowing through it, and large deals are made every day. This means you can take a relatively small piece of that pie and still be making a lot of money.
You can watch YouTube videos and read books as a starting point. Reading a book is almost like having a personal lesson from some of the greatest minds in history. You can learn a lot from self-study, however you will also need some training to get started. I will give you more information on that later in the article.
2. Deal Sourcing
The first thing I would do is to find deals for property investors. This is known as deal sourcing. Deal sourcing involves: finding great deals, either on or off market; gathering data such as builders quotes; speaking to letting agents and negotiating a sale price. Then, you sell this information to an investor for a few thousand pounds.
Doing this will get you good contacts in the property world and help you gain an understanding of exactly how things work. Once you get some experience doing this, if you want to make £100k fast, you should move on to step 3 as soon as possible.
3. How To Make Your First 100k Via A Refurbishment Joint Venture
This is how to make your first £100k once you have a little experience. Find a property investor that wants to buy and refurbish a property. Offer to live in the property and manage the whole refurbishment in exchange for 50% of the capital uplift.
Here is an example of how that could work:
-You find a £1M house in London and the investor buys it.
-You oversee it. Manage it. Do all the transactions, but don't own it.
-You then do it up for as cheap as possible. Maybe for £100,000, which the investor pays for.
-You've pushed the value up by £200,000.
-Now it's worth £1.3M. £200,000 profit on increasing value.
-The investor agreed to 50% of the uplift, so you made £100,000.
If you would like a little more information on how to make your first 100k, why not join me at my next training event?
On the course, you will learn how to:
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Become a property investor using other people’s money so that you can get started straight away
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Utilise the 5 different types of raised finance so that you know exactly what to offer and when
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Find the perfect properties for the BRR strategy
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Recycle your money so that you can ‘rinse and repeat’
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Build a power team you can trust, so that you can save time and money
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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!
