“The best bit of advice I ever had came when I worked as a waiter. I asked a businessman how he had succeeded – he just said, ‘Borrow, borrow, borrow as much as you can.’ I currently owe the banks about £160 million.”
Duncan is the most successful dragon on dragon’s den.
So how much do I owe? Well around £7.5m. Not in Duncan’s league but still quite a bit of debt I can assure you.
So the point of me telling you all this? Get in debt!
Not bad debt but good debt. Debt which produces income greater than the interest cost. I think you know what I am talking about…….PROPERTY.
The easiest way to build up a large debt pile is property. Whatever you hear from the media banks LOVE property. It is safe as houses as they say. The more you borrow the more you make. Ask any successful investor and they will tell you the same.
I get to own 205 properties, courtesy of the bank, and whatever increase in value I get it is all mine. My cost of borrowing is kindly paid for by the tenant (or the government if they are unemployed).
So how much did I put in to my £15m property portfolio? Well around £500. I used various no money down techniques to buy properties getting 100% finance.
Do you want to learn how to do 100% financing? And not only that get access to this 100% financing? This sort of stuff is not found in high street bank mortgage leaflets, business link seminars or breakfast meetings at the Institute of Directors!
It can be found from investors like me and the trainers at Property Mentor. They are zooming around the country spreading the word and you are invited.