How much money do you need to start investing?
Do you want to start investing in property but are unsure about how much money you need to get started?
You are not alone - it's a common question!
And the good news is, you don't need as much as you think.
I certainly didn't have a lot when I got started. In fact, I took out a bank loan just to pay for my training.
The key thing to remember is that it doesn't need to be all your own money.
When you are considering how much money you need to raise for your investment, it will all depend on the property strategy you are going to use.
In this episode, I cover 4 strategies which all require a different level of capital to get started:
The lowest cost option is to go into a strategy such as Rent to Rent or Lease Options. In both of these strategies you don't actually own the property. This is a great way to get experience in letting properties with virtually no cost up front, but you do need to continue being actively involved managing the properties in order to continue to make an income.
Next is Buy to Let, as a buy and hold strategy. You buy a property and you let it out straight away. All you need to find as capital is the deposit for that property.
Buy to Let with infinite returns or (BRRR) is next. This is where you buy a property, you do a refurbishment to add value and as such, the property is worth significantly more at the end of the project. You can then refinance to pull out most if not all of your finance and pay back any lending which you took out to start the project.
And finally, converting a property into an HMO. This can be a great strategy despite having a higher capital outlay at the start, as it can give you really good profits both as income and in value uplift after your conversion.
Remember, whatever project you are doing, you need to make sure that the cash flow works, because that is what will make your project a success.
P.S. Would you like to find out more about how you can get started in property investment even if you don't have any money of your own? Start by downloading my completely FREE How to Start Investing in Property guide and take the first steps to achieving your property goals today!