If you have nothing in the bank right now and you want to buy a house and start making money in the property market, is that possible or is it just a pipe dream? In a recent video, I answered that exact question, and how you can get into property from a few strategies if you have no money! To get a full understanding of exactly how to do this, please watch the full video (above).
In this article, I will summarise these 4 ways to get into property with none of your own money. If you find this information helpful, please share this article with your friends and family on social media.
1. Joint Ventures
A joint venture partnership is two or more people working together on an investment. In this case it is one partner (i.e. you) finding the deal as well as doing all the work and the other partner putting in all the money. Many investors don’t have the time to find their own deals and fully manage them; they do however have the cash.
If you can get the knowledge and show you have a good work ethic, you can find a partner to work with. Remember this doesn’t need to be a multimillionaire. Chances are there is someone that you know who has savings in the bank getting eaten away by inflation. Find them and approach them with a good deal.
2. Lease Option Agreements
Another way to get a property with no money down is called a lease option agreement. This is where you have the option to purchase a property in a few years' time and you take over the property in the meanwhile, paying down the mortgage and renting the property to tenants.
You might be wondering why a seller would agree to this. Many sellers are unable to sell their property at the price they paid for it; this is known as negative equity. These sellers want the property off their hands with the chance to get a higher price down the road. This makes lease option agreements perfect for them.
3. Packaging and Selling Deals
You can also use your skills to find property deals even if you don’t have enough money to invest in them. Investors are always looking for good quality, high ROI deals to invest in. You can sell them deals for a fee. You can then save up and invest in your own deals with the money you make.
4. Rent2Rent Deals
The final way to make money in property without investing a huge amount of money is doing rent-to-rents. This is where you rent an apartment from a landlord on a corporate let agreement. Then, with the landlord's permission, you either let the property out by the room (Rent2HMO) or you rent the property as a holiday let (Rent2SA).
If you would like to learn these methods in detail, why not book on to my next training event. Tickets are just £1. You can book one here. See you there!