It is easy to say the advice I give is biased. I want you to invest in property via me as I make sourcing fees. That is correct. But most people do not use me who read this email!
In fact the more I sing about buy to let the more competitors I create. However I feel there is plenty for everyone so I do not get too bothered about that.
But is the information biased? Well bias is a strong word. Do I strongly believe in buy to let as a way of obtaining financial freedom? Hell YES! If you want to call having strong convictions bias then I AM BIASED.
I wrote my first book on buy to let in 2000. I NEVER thought we would see so many high yielding properties as I do now. Back then I used to call it the rule of 12. Only buy 12%. I do actually buy 9% yielders as 9% is actually quite high.
But get this. I never thought you could buy properties in the way we do currently with so little money.
I used to borrow my deposits by raising cash from credit cards, overdrafts, loans etc. (which you can still do you know!) however now you can use cleverly created deposits with sophisticated usage of no moneydown packages and option agreements you can buy property with very little money.
So for those who wish to be seriously rich have you ever considered this:
- beg, steal and borrow like mad to raise lots of £5k deposits
- use these £5k deposits to go and buy little money down deals
- sit back and wait for the recovery
One this is for sure. The recovery will happen. You know it and I know it. How long we have to wait is the question. Is it one year or is it 10? That I have no idea.
There are plenty of predictions but no one can predict more than 6 months ahead.
If they could they would have bought in the boom and sold just before the crash and made a fortune and would not be writing predictions! However they still have their day job and will still be writing the same old drudgery of doom then boom.
The question is do you want to be rich?
Now it seems a silly question as the obvious answer is yes. But did you know there are some people who do not want to be rich? They want to be comfortable, not rich. When you ask what comfortable is they say just a little bit more. But when they get a little bit more they then want a little bit more again!
Quit kidding about. I am going to be presumptuous and say you want to be rich.
The only way you can be rich is by taking a bit of risk. I did it back in 2000. It set me up for life. I am so glad I did as the properties I bought gave me the seed capital to multiply my portfolio from 20 to 200 properties in 5 years.
Lives will be changed because of this lull in the property market. Is your life going to be changed?
If you want to know more consider reading one of my books.