About 50% of my clients start off their property portfolio with little money or even no investment money, and yet they are able within a short period of time to increase their income by controlling property.
When I was working in the corporate world I saw a variety of organisations work out each year what they would offer as a pay increase to their staff, and it didn’t matter whether they spent months, weeks or days deciding, the answer was always to offer an increase in line with inflation. So each year they would pay a maximum of 3% increase – in reality, if the average salary was £20,000, they had an increase of £600 for the whole year, and that was before tax!
Are you still waiting for your pay rise this year?
Many firms during the recent recession cut back on pay, or worse still cut back on the hours worked by their employees so that they didn’t have to make them redundant. I really respect the fact that they found ways to keep the staff whilst they rode out the rough patch, but it still didn’t help my friends who then had to tighten their belts and weren’t able to come out for dinner so often.
The very best way I have found to increase my income not just once a year, but several times a year is with property. Each property I own gives me or my clients yet another pay increase, and you don’t even have to have lots of money to do this.
If you have little money to invest (about £2k to £5k) then you can still get started by using properties that other people have got tired looking after and arranging to rent them out on their behalf or by offering to provide them with a down payment every month and then buy the property in 3 to 5 years. This way you are using the fact that you can increase the rent and get some profit from it, whilst still paying the owner a guaranteed rent each month.
By doing this you could get around £200 per month added to your salary (that means £1,200 per annum – which is already double that 3%!).
If you would love to get your hands on some derelict properties and bring them back to life, then believe it or not this can also be done with no money to invest and we’re doing this every month. This can increase your pay by even more, and suddenly you don’t need to invest with no money or little money because you’ll have income every month and you can generate lump sums of cash from getting clever and knowing a few specialist tips to help you make some serious money from property investing.
If you want to find out more about how you renovate for profit, or get yourself established with very little money to invest then make sure you find out about the property investment course with the highest pay increase per property – Mould To Gold in 6 weeks.
The next courses are running in London on 19th October and in Birmingham on 9th November. Click this link to find out more.