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Hello Hubbers!

 

I am a regular listener to the excellent property podcast but am yet to post to the community so I hope you can help!

 

I am looking for some guidance on my next move along my property journey and would greatly appreciate any thoughts on my small dilemma.

 

so I am 36 from Essex but I live overseas in the Caribbean for work. 

I have 5 BTL properties in the UK with 2 in Essex and 3 in Manchester that are all rented and yielding nicely.

 

I like many of you out there have an increasing desire to move into property investment full time. I see no better alternative or faster route to financial freedom as long as you are educated, focused and willing to work hard.

 

In order to move into property investment full time, I would want to immerse myself in the education of all the various strategies through courses, seminars, meet-ups and network events based around the UK as Rob and Rob organise themselves. 

In order to do this, I would have to relocate back to the UK which I don’t mind doing, as I think if done right it would only have to be for between 5-10 years before I was back in a 'time rich' position through passive income to once again leave for sunnier skies

 

But here is the question. 

 

My job is not very transferable back to the UK so I would be looking at investing some savings into full-time education initially for the first say 6 months and then hoping to begin my first JV projects and raising finance etc without having an income from employment. 

 

So my question to the professional full time investors out there is can this be done or do I need to have an income for the first year or so while I am working on my first few projects for raising finance etc?

 

My other option is to use my savings to start a separate business venture which would hopefully build up a sufficient income stream over a couple of years to enable me to take a step back and begin to divert my attention more on property with the benefit of an income as well.

The risk with this is it will take time and it could not work out and I find that I have just bought myself another job!! Not good!

 

I feel like any more time spent on anything other than property is a waste of time because nothing can make as much sense as property as I am sure you will all agree!

 

BUT CAN SOMEONE START AND BECOME A PROFESSIONAL WITH LOTS OF THE RIGHT EDUCATION BUT ‘NO INCOME’??

 

I hope this all makes sense guys, and I would really really appreciate your feedback if you are in the business and can speak from experience.

 

Thank you in advance!!

 

Best of luck out there and a happy 2018!

 

Regards

Alex.

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Hi Alex,

 

Have you got an initial lump sum of capital?  It is hard to comment really without knowing your financial situation, but depending upon the money you have and what your ties are, you could easily move to an area up North where the cost of entry is lower and you would be able to build up your capital completing flips.

 

Personally I dont agree with many of the courses out there, people make more £££ selling them than doing what they teach, so that should speak volumes. 

 

Darren

 

www.fmp-investments.com

www.f-m-p.uk

property@f-m-p.uk

I am looking for private financing

with a 10% ROI - get in touch

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Hi Alex

 

To be fair, I'm not entirely convinced that the the best or fastest way to financial freedom is through property!

 

The fastest way is probably through a successful business venture, perhaps setting aside investment funds into property and other asset classes in your portfolio along the way. At a very high failure rate it is also one of the riskiest however! Read the Millionaire Fast Lane to hear more on this approach.

 

Another way is to climb the corporate ladder and also set aside funds for investment, as in the Millionaire Next Door. This might possibly be the 'best' way if not the fastest as it allows you to build an asset base alongside an income stream.

 

I guess, the combination of the two might be a business in property, provided that you also have assets accumulating alongside income from the business.

 

What is common in all of these approaches is the distinction between income and assets. They are distinct and different. Income feeds us today, whereas assets feed us tomorrow and the next day. In other words, the best way to financial freedom is to mix and match these two different drivers.

 

I can save you at least some of the cost of your education, by attaching an article that outlines 40 ways to profit through property. In my opinion, you don't necessarily need to invest huge sums to figure out what strategy is best for you as Darren has also said. Darren is also right in asking about your starting funds, as the basic principles in property require a trade-off between time, money and know-how. Often, when we have an abundance in one or two areas, we can compensate for the one(s) that are lacking. If you have time but limited funds, then gaining knowledge can help you to compensate for a lack of funds. On the other hand, if you have the funds, then you can 'buy in' the expertise or time and so on.

 

To answer your specific question about funding yourself whilst waiting to raise funds...it often takes time for this to work and so you  need to allow  between 6-24 months of 'lifestyle support funding' (covering your living costs) plus the length of your projects before you can really rely on JV financing in the majority of cases. You should also ask yourself, 'why would someone invest their money with me...what can I bring to them that is different from other people offering something similar?' Answer that question and it might give you a clue as to whether you are looking more at the 6 months or  at the 24 months end of the spectrum to have a steady stream of investors lined up. JV partners usually want to see credibility, a track record, authority, shared values, security, a good business case and decent returns as a minimum.

 

Hope the article and advice is helpful.

 

Best

Richard

 

YPN113-digitaledition-50-51.pdf

Richard W J Brown a.k.a. The Property Voice

Property Investment Strategist

10%+ ROI property deals every week: check out PROPERTY DEAL TIPS
Amazon best-selling author Property Investor Toolkit & #PropTech, YPN Magazine columnist & PODCAST host

Web & Blog: The Property Voice | Curated property news & insights feed

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