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Hello all. I’m 22 and have just started my property investment journey. Although I have not actually invested yet, I have begun reading and researching as well as focusing on saving as much money as possible for when the time comes to finally make that first investment. As you will all know, there is a lot to learn and so I am eager to speak to people who are further into their journey than I am. One of the main areas I wish to further my knowledge in at this stage is the amount of money I realistically need to start investing. I earn an average wage working a 9-5 job and currently do not have a huge amount saved. To anyone willing to respond and offer their advice, thank you in advance. 

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Hi Calum,

Do you have a type of property in mind and an idea of value?

If you take a property costing £50k with 25% deposit (assuming you are looking at BTL) you would need £12.5k plus fees say another 10% plus renovation costs (if required) before you know it you would be looking at circa £20k

You will see a lot of offers of "no money down" but personally I would steer clear of them.

Have a listen to Property Hub Podcast Episode 137 - How much money do you need to invest in property? | Property Hub

 

Best of Luck

Ryan

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2 hours ago, ryan85 said:

Hi Calum,

Do you have a type of property in mind and an idea of value?

If you take a property costing £50k with 25% deposit (assuming you are looking at BTL) you would need £12.5k plus fees say another 10% plus renovation costs (if required) before you know it you would be looking at circa £20k

You will see a lot of offers of "no money down" but personally I would steer clear of them.

Have a listen to Property Hub Podcast Episode 137 - How much money do you need to invest in property? | Property Hub

 

Best of Luck

Ryan

Thank you Ryan, I really appreciate your response. I wasn’t aware that this podcast existed, but it sounds perfect. I’ll have a listen. All the best to you.

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19 hours ago, calum-lightfoot said:

Thank you Ryan, I really appreciate your response. I wasn’t aware that this podcast existed, but it sounds perfect. I’ll have a listen. All the best to you.

Hi Callum

As Ryan mentioned, our podcast is a great resource - it might be a good idea to get started on episode 255, which covers starting in property in your early 20s; https://propertyhub.net/podcast/ask255-is-20-too-young-to-invest/

Thanks

Mark

Mark Rocks
Community Builder and Content Writer

www.propertyhub.net

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