My show The Eviction is back and the trailer is up on my YouTube channel! This year, it's bigger than ever. 10 Candidates compete for a £20k cash investment and a chance to become the next big property entrepreneur. There will be 5 weekly episodes and the first one is out today! You can watch today’s episode here. The episodes are not only entertaining but will give you a great insight into our creative property strategies too.
Even if you don’t have £20k to get your property journey started, you can still start making money in the property world. There are many property strategies that you can implement with little or no money down. These strategies require work. They require you to become a property entrepreneur and to run a business. However, if you don’t have much money, they are a great place to start. In this article, I will give you 3 property entrepreneurship strategies you can use to start making money in property yourself.
1. Deal sourcing
If you can find great property investment deals but you don’t have the funds to invest in them yourself, why not try deal sourcing? Deal sourcing is where you find property deals, negotiate them and then pass them on to an investor for a fee. Capital rich investors often don’t have the time to find property deals themselves. They are happy to pay you to do the searching and the negotiating for them.
There are a number of regulations that you will need to comply with before becoming a deal sourcer. You will need a little bit of money to get the correct registrations and insurance, etc. However, you can start with no money as a co-deal sourcer. As a co-deal sourcer, you find deals and pass them on to a fully compliant deal sourcer. In return, the deal sourcer gives you a cut of the fee when they sell the deal.
2. Rent to rent
If you can’t afford to buy a property, you can still control one. Rent to rent is a strategy where you give a landlord a guaranteed rent, and with their permission, you rent the property out yourself. You can rent the property out by the room (rent to HMO) or rent the property out for short stay lets (rent to serviced accommodation).
Rent to rent normally does require some money. You will often have to pay a deposit; first month’s rent; and spend some money dressing the property or doing a light refurbishment. It is possible to negotiate some of these costs away in certain circumstances however.
3. Joint venture
If you have the skills needed to manage a project but you don’t have the capital to invest, why not take on a joint venture partner? There are lots of people with money to invest that would like someone to take on the hard work of finding the deal and managing the project. You can agree an ownership split that makes sense and is fair to both parties.
An investor isn’t necessarily a super rich multi-millionaire. Many people have money sitting in the bank losing value over time. You may well know someone like this who would be happy to put their capital to work. Start networking and find out who might be interested.
