Simon addresses a common question among aspiring property investors: how much money is needed to start investing in property?
Simon highlights that the required investment can vary significantly, from those starting with no money to those with substantial funds.He also examines the importance of resourcefulness over cash, exploring various funding strategies such as releasing equity from existing properties, utilising business profits, and leveraging pensions.
KEY TAKEAWAYS
- The amount of money needed to invest in property varies widely. Some individuals start with no money, while others may have substantial funds but still feel it's not enough. It's essential to understand that resourcefulness can often be more critical than having a large sum of money.
- There are multiple ways to fund property investments, including releasing equity from existing properties, using retained profits from a business, leveraging pensions (like a SAS), and utilising other people's money. Building relationships with those who have capital can create win-win situations.
- Strategies such as deal sourcing, rent-to-rent, and purchase lease options can be effective for those starting with little or no money. These methods allow individuals to generate income and build credibility without needing significant upfront capital.
- Investing in personal development and education is crucial for becoming a successful property investor. Paid training programs often provide structured learning and access to networks of potential investors, which can accelerate the journey to achieving financial goals.
BEST MOMENTS
"A lack of money is not a lack of resource, but actually a lack of resourcefulness."
"When you invest in yourself, when you back yourself, you become more investable."
"You make the money buying, not managing."
"If you have £10,000, you could get a good number of options... enough to maybe replace your income."
"Every month you don't have £10,000 coming in, it's an opportunity cost."
VALUABLE RESOURCES
To book a strategy call with one of Simon's team visit: http://www.GrowthCall.co.uk
To find your local pin meeting visit: www.PinMeeting.co.uk and use voucher code PODCAST to attend you first meeting as Simon's guest (instead of paying the normal £20).
Contact and follow Simon here:
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Simon Zutshi, experienced investor, successful entrepreneur and best-selling author, is widely recognised as one of the top wealth creation strategists in the UK. Having started to invest in property in 1995 and went on to become financially independent by the age of 32.
Passionate about sharing his experience, Simon founded the property investor’s network (pin) in 2003 www.pinmeeting.co.uk pin has since grown to become the largest property networking organisation in the UK, with monthly meetings in 50 cities, designed specifically to provide a supportive, educational and inspirational environment for people like you to network with and learn from other successful investors.
Since 2003, Simon has taught thousands of entrepreneurs and business owners how to successfully invest in a tax-efficient way. How to create additional streams of income, give them more time to do the things they want to do and build their long-term wealth.
Simon’s book “Property Magic” which is now in its sixth edition, became an instant hit when first released in 2008 and remains an Amazon No 1 best-selling property book.
Simon launched his latest business, www.CrowdProperty.com, in 2014, which is an FCA Regulated peer to peer lending platform to facilitate loans between private individuals and property professionals.
