I recently travelled to the Caribbean to do a financial freedom challenge in St Lucia. The goal was to make £100,000 profit in one day from scratch, which was not quite achieved, but with the help of property millionaire Evans we did manage to secure some interesting property developments. We set up a deal with a landowner to build a sea-view property and split the profits. We also negotiated the construction to be done without any upfront costs.
No matter where you are in the world, there are ways to make money from property. By doing this challenge, I hope to inspire people from the UK and around the world to begin their journey into the property industry. In this article, I will give you 3 tips for starting in property with none of your own money.
1. Become educated about property
If you are starting with nothing, you need to bring something to the table. Normally, that something is knowledge and an excellent work ethic. Someone is going to be putting their faith in you, either by investing money or by doing a no money down deal with their property. You need to show that you are going to be a safe pair of hands for their investment.
You can start by reading and watching free content online, but you will need more in-depth training before you get started. You can come to my free training events as they are a great place to start. You can get a ticket here (£1 booking fee applies). I hope to meet you at the next one!
2. Be confident and take action
As soon as you have the knowledge and are ready to take action, you need to be confident in yourself. You are now a property investor and it is time to present yourself as one, in-person or on social media and in other areas of life. Once you put yourself out there, opportunities will begin to appear more readily.
But don’t just sit back and expect things to come your way, you need to take massive action. Don’t be put off if you get a lot of people saying ‘no’; remember you only need one person to say ‘yes’. Just keep trying and don’t take rejection personally. If you ask the right questions and talk to enough people, you will make it.
3. Network and get to know the right people
They say that ‘your network is your net worth’ and that is very true in property. If you get around the right people and provide real value, it doesn’t matter how little money you have personally. If you can find excellent deals and can bring them to the right people, the money will follow.
You can attend property networking events to get an understanding of the industry more generally and to make new contacts. Find out how you can help people to get what they want, and they will be more than happy to help you get what you want. If you can build the right network, anything is possible!