Peter Answers Questions From The Progressive Property Community
Welcome back to the Progressive Property Podcast with chattered surveyor and property investing expert, Peter Jones. In this episode, Peter answers questions from the Progressive Property Community and shares with how to get started in property, even when you don’t have any money or own any property. Peter goes on to discuss where you can find JV finance and JV partners and why if you’re not yet part of the community you should go ahead and join now!
Tune in now and learn how to believe that you’re a property investor, how to get yourself started and begin growing your empire.
KEY TAKEAWAYS
Do I need to have a lot of money to become a property investor? Well, you don’t know what you don’t know and in property, other people’s money is much better and much more efficient to invest with. By using other people’s money you will see far greater returns to you than using your own. You can accelerate and accentuate your portfolio by using other people’s money. It’s good to have a lot of money, as long as it’s someone else's money. Finally, it’s also important to maintain a good credit rating so that you can regularly borrow finance, it’s doesn’t always have to be a JV partner. You can use bridging loans, personal finance and credit cards to get you started.
Can I get started in property, even when I don’t own any? Yes, of course. You need to be telling people you’re a property investor even before you do your first deal. Being a property investor is a state of mind, it’s not a qualification. You need to get out there, get networking and begin telling people who you are and what you’re looking at doing. So many property deals and JV finance is done as a result of networking and telling others that you are a property investor.
Where can I meet other investors? Really it depends on the type of investor you want to meet. The usual places are networking meetings such as Progressive Property Network (PPN) and Property Investing Network (PIN) but you can also check out National Landlords Association and Residential Landlords Association meetings to expand your network. This works particularly well if you’re doing a Rent2rent strategy or tired landlords worried about the Section24 act. You can also attend Progressive Property’s Joint Venture Day and learn how and where to meet other investors.
BEST MOMENTS
“When you begin property investing and you have your own money you will actually start off slower on your journey because you become fixated on the amount of personal money you have to invest.”
“Sometimes we get so fixed on raising JV finance that we forget we can borrow from the banks. This can even be a bridging loan.”
“If you’re going to be a property investor you’re going to have to get your hands on some money, and there are multiple ways to do this.”
“Tell everyone that you’re a property investor.”
“Get out there and do it, be it until you see it.”
VALUABLE RESOURCES
Join the Progressive Property Community here:
http://www.thepropertyteacher.co.uk/
ABOUT THE HOST
Peter Jones is a Chartered Surveyor, an author and a serial buy-to-let property investor. He has been involved in property for over 35 years and now owns 78 letting units. He is still actively involved in buying and renovating property, and regularly flips properties for profit. Peter has written a number of successful property books. The first, An Insider’s Guide to Successful Property Investing, was first published in 2000 and was
one, if not the very first, book of its kind which was written for what we’d now call buy-to-let investors. On the back of its success, he was invited to be a guest writer for Property Secrets and wrote Spanish Property Secrets, French Property Secrets, and Portugal Property Secrets. He has since written a number of other successful titles dealing with UK investing including 63 Common Defects in Investment Property and How to Spot Them, the highly acclaimed The Successful Property Investors Strategy Workshop and The Property Renovator’s Workshop ,in which Peter describes step-by-step how he built his own property portfolio, starting with virtually none of his own money.
CONTACT METHOD
