The Money Vault

Anyone Regardless Of Age, Sex Or Academic Qualifications Can Become A Property Millionaire...

 

Property Is The Best Investment A Person Can Ever Make

Bricks and mortar will always make money - there will be periods where value drops but it will always rise again. Perform a Google search for 'The Rich List', it is no coincidence that all the names at the top of the list are involved in property investment!!

After many years in property I now look to buy a property using no money of my own!!!

This does sound a fantastic notion but it is possible and I have done it myself. I bought many books on the subject before taking the plunge and it has paid of handsomely.

My first investment property was purchased in 1996 for the grand sum of £11,000. Yes, you read that right - £11,000. After a few years of paying market value for all my property I became interested in repossesed property. My last repo was purchased in 2004 for £24,001 and incidentally it was the most I ever paid for any of my U.K properties. I won't bore everyone by going into what my properties are are worth nowadays, even with the drop in house prices. I am sure everyone reading this will probably have an educated idea as to their individual values.

 

I became aware a while back that the smart people in property were doing things differently. After quite a bit of reading I discovered that certain individuals were buying property using no money of their own. To read how they did it Click Here!

We are all conditioned to believe you get owt for nowt in this world and as a seasoned property investor/ developer I couldn't believe that it was possible to buy a property for free. I read and studied their methods for a long time before I felt brave enough to take the plunge into the free property market and I can honestly say that I have no regrets (well, who would regret owning a property that will always rise in value if you keep it for the long term?) and I would recommend the methods to anyone.

If you are serious about investing in property never waste time and money using your own resources. Property can be bought using none of your own money.

For A More Detailed Report On This Little Known Method Of Buying Property With No Money Down

Click Here!

 

Property Tips
One Bedroom Flat Or Larger Property
All Landlords have differing views on best value investment and buy to let properties - some prefer to have flats and houses, so as not to have 'all their eggs in one basket' Others only take on two bedroomed properties as the rental income is higher than one bedroomed flats. I prefer only one bedroomed flats, the reason being that they are the cheapest investment, the tenant problems are minimised - the tenant is usually either a single girl or a man who has recently gone through a marriage break up. In the situation of a marriage break up the man usually returns to the home after a few weeks but it is possible to word the lease so that you, as a Landlord can legally keep the deposit paid. I find that, with a two bedroomed property the tenants are either two friends, male or female, who decide to share, and, pretty soon into the lease, one of them moves out, either through finding a partner or through an argument and you, as the Landlord, are left with one tenant who can't pay the rent or brings a friend in who you haven't vetted. The other scenario are the tenants who are a couple with a kid who have sold their home and need a stop gap until they either find a new home or need a place to stay until the entry date of the home they will be moving into.

Compare Rents
Check out your own local newspaper in the property section if you intend to invest in property. You will see for yourself the difference in cost between a one bedroom and two bedroom flat. Now check out the 'property for rent' section - sometimes the difference per month between a one and two bedroomed flat is only £50 per calendar month in extra rental income.

Council Tax Implications
Council Tax rules regarding rental properties change all the time since Buy To Let became popular. When I first started to invest in property a discount of 50% was availablefrom our local council if the property was unlet but furnished, this has since gone down to 25%, with the result, I now clear out any furnishings when one of my properties become vacant. I originally had only fully furnished properties (all furnishings bought second hand) but now this is not such an attractive option.

Look Beyond Your Local Area
Don't fall into the trap of thinking that you must invest in property solely in your own neighbourhood. A good management company can take care of your investment for very little cost. My properties are in Scotland and yet I spend eight months of the year in Chichester, in one of my rental caravans!) Look into 'up and coming' areas. In my hometown properties were cheap to buy up until the building of the Scottish Parliament. Within a year, one bedroomed flats rose from £22,000 to £32,000 - the next year saw them rise another £10,000 and so on, to current market value. I also owned villas for rent in Kissimmee, Florida, so basically, with rental properties there is no need for you to be living remotely near the property.

Council Tax Exemption
If your Buy To Let property needs some work done on it, check with your local council if you can apply for a six month exemption from Council Tax. Every property should be allowed a six month exemption but if the exemption has already been used up by another tenant e.g. going into a nursing home while still keeping their address, you will not be entitled to this but it is definately worth finding out about. I have found in the past that some employees in the rates office have no knowledge of the 6 month exemption. If you are told that you are not entitled to it, always ask to speak to a supervisor.

Furnished Or Unfurnished
If you intend to advertise your property as 'unfurnished' it is always advisable to at least put in some 'white goods' I buy all my white goods from a local second hand company who reconditions the appliances. I pay approx £60 for an automatic washing machine and £50 for a fridge freezer. In the last eleven years, in my properties I have had to replace one fridge freezer and all the washing machines are still going strong except for a few minor repairs.

Landlords Insurance
For details of Landlords insurance click here