Manage episode 274307521 series 2342628
Kevin is joined by former student, property investor and joint-venture training graduate Alex. Together they discuss how you can get into property, what to look for and how to get that first deal under your belt. Tune in today to hear top tips and advice from two property investors successfully securing deals and investing in property right now.
- Don’t use all your money for one property. A lot of people have enough money to buy that first house, but then they can't do any more. By reading property education books and by joining online communities you will learn better ways to invest.
- Education. You need to have the right knowledge for you to achieve success and not lose money. Attend courses, seminars, read books and listen to podcasts and acquire the right knowledge.
- Refurbishing. After purchasing property, it’s good to do refurbs, but it's really important when you're doing a refurb that you do things in the right order.
- Why you should invest now and not wait in the future. There are always good deals out there and if you don’t invest in it now, someone else will do and make money that was supposed to be yours.
- Viewing. While viewing a property, always know why the owner is selling it and if it’s in a bad state and always know if the property in in a prime area.
- Funding. It’s okay to get money from other people and there are always people out there with the money to lend it to you, but you have to present yourself in the right way for them to invest in you.
- Joint ventures. You should always put yourself out there on social media, sell yourself as who you are and what you are doing on to attract investors with the same desires that you have.
- Numbers. What’s important is not the asking price; the important thing is the end value. What will be the worth of that property after you've done the work?
“Look at something as an opportunity and not a problem.”
“Investing in properties isn't a retirement plan, it’s a now plan.”
“The uplift in value is the bonus money.”
“Have faith that other people will lend you money if you present yourself in the right way.”
“Show yourself as you, show your area as something that you know, and just be honest and credible about what you've got.”
“Wealthy people spend their money trying to save time, while poor people spend their time trying to save money.”
ABOUT THE GUEST
Alex took part in the seven-day joint venture finance raising challenge that Progressive Property held on social media earlier in the summer. He was one of five people who got to pitch a deal to me and an angel investor for funding. Kevin chose Alex’s deal to fun and ‘he’s got the keys’
ABOUT THE HOST
Kevin McDonnell is a Speaker, Author, Mentor & Professional Property Investor. He is an expert when it comes to creative property investment strategies. His book No Money Down: Property Invest talks about how to control and cash flow other people’s property to create financial freedom.
See omnystudio.com/listener for privacy information.