If you're a beginner with no money, you probably think that you need to save up for a deposit to buy a house and rent it out. However, that's the old-fashioned way of becoming a property investor. In a recent video for my YouTube channel, I demonstrate the fastest ways to get into property even if you are starting with no money.
In this article, I will explain exactly what you need to do in order to start investing in property without needing a ton of cash. I highly recommend watching the full video (above) until the end, as it has important details you will absolutely need to get started.
Partnering with other people is the first way to get into property without money. To buy a property, you need four things: the ability to find the deal; the skills to negotiate and project manage the deal; the team in place (builders, agents, mortgage brokers), and the money. If you don't have the money, focus on acquiring the other three things, and then partner with someone who has the money. To do this, you will need to get the correct knowledge and training. You can start by attending free training events and watching relevant videos.
Attend property networking events to meet property investors. Ask them what kind of properties they're interested in. Once you've found a good deal, approach potential investors and ask for their opinion. If they like the deal, you can offer them a fixed return on investment or a profit share.
Deal selling is another option to partner with people. If you can find a good property investment that suits their criteria, they will probably be willing to pay you a finder's fee. If you don’t have any investors yet, you can also pass deals to another deal sourcer and split the profits.
2. Controlling Property
Instead of trying to buy a house, you can also control properties through a purchase lease option agreement. This agreement allows you to secure the right to buy a property at an agreed-upon price within a certain time frame. You can then rent the property out for a profit, or sell the option to someone else for a fee.
Another option is rent-to-rent agreements. This is where you rent a property from a landlord and then, with their permission, rent it out to other people. To make this profitable you will need to either rent the property out by the room or as serviced accommodation on short stay lets.
3. Getting Started
If you are ready to get started, you need to find a group of like-minded people that can help you and keep you motivated. You also need the correct training and information. A great place to find both is at the Property Investors Crash Course. Tickets are only £1, so there is no excuse not to attend. You can book your ticket here, but act now, as they tend to sell out fast. I look forward to meeting you there. It all starts at the Crash Course!