04/04/2024
There are so many people out there sitting on a potential fortune 😦
I think a lot of people believe you need to have a boat load of money in the bank to grow a property portfolio, but the simple truth is that you don't.
I understand that £60,000 is A LOT of money, but one thing I have learned and been shocked by since getting involved in property is the amount of people that have not just £60,000 in the bank, but multiples of it!
Every single one of those people, and you may be sitting there reading this in the same situation, have such a massive potential to grow a portfolio of properties that could genuinely change the way you live, your kids live and beyond, IF you are willing to be patient.
The reason I say this is that with that bit of patience, that money invested today in 1 property here in Birmingham, based on medium-long term averages and utilising the combination of capital growth and leverage, becomes 2 properties in 6-8 years, becomes 4 properties in another 6-8 years, becomes 8 properties in another 6-8 years...you can see where I'm going with this. (PS - that's before we even consider adding value via refurbishments 👀).
This is without adding any more money over time, the option to pull that £60k back out, technically leaving none of your own money in the portfolio, keeping all the rental income, minus taxes of course, and with the right letting agents, not even spending any time thinking about it!
This result of compound growth will only accelerate your portfolio growth over time, increasing cash flow and most importantly capital gains EXPONENTIALLY over the medium-long term. The results are truly frightening and to be honest, not even believable to most people on the surface of it.
The sad part is 90% of people won't take the leap into this...and the reason I hear most is because of that overriding fear of debt, which I don't blame anyone for because that's just what we've all been taught. Debt is bad...but yet we are also all pushed into getting personal mortgages, new cars, new £1000 phones and so on, which is ALL DEBT, but the difference is that debt isn't working for you, it's working for the banks!
The truth is, the people who are most successful in property absolutely LOVE DEBT, because it's good debt and that's the mindset and the question to ask; what is the difference between 'good debt' and 'bad debt'?
If you're reading this and you are intrigued, interested or even doubtful by the £60k example I used above, just drop me a message and let me run through it with you.
My aim of all this is to open people's minds to the potential you have to create 'financial freedom' in you and your families lives, which is an overly chucked around term in my opinion because it's so linked to the BS 'get rich quick' schemes.
Property IS NOT a 'get rich quick scheme', but it's a 'build wealth exponentially over time scheme'. Albeit the latter doesn't quite roll off the tongue or sound quite as sexy 😉
Andrew
