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First post here on PT and I thought it would be good manners to introduce myself and say hi.
I have been working in a lettings agency for nearly 4 years now, and being in the property industry has made me grow an interest in understanding and pursuing property myself.
I have been reading books about the industry, some from "gurus" which gave me a good understanding of the basics, yet despising the whole subtle, constant message of "come to my £20k training course to become a millionaire with none of your own money".
The problem I have found trying to get educated via those "guru"'s books and youtube channels is that they made it sounds all so easy, and I know being a successful property investor requires a lot more hard work than they portray it to be and I do not want to jump in naively into something that has got so much potential to go really badly if not done properly.
Hence why I am so glad I have come across this community, as at first glance it seems to be formed by knowledgeable, genuine, serious investors who do not mind share their experiences openly, for free, would you believe that!
Now my dilemma is regarding finances, as I do not have anywhere near the amount required for a BTL mortgage, and living in London does not help in terms of saving big sums of money.
My initial route I had in mind was to start networking and get to know like-minded people and begin building up some cash buy actively sourcing properties for investors for a small fee. This would also allow me to get first hand experience in sourcing properties, while improving my negotiating skills even further than what I do in my daily job.
What do you guys think, would this be a viable, realistic option to start getting into the industry by building up cash to re-invest, as well as first-hand knowledge?
If not, would you have any advice for anyone in my situation?
I am really looking forward to being part of this community,
Thanks to all
HI Alessio and welcome.It sounds like you have a very sensible head on your shoulders and that will serve you well in property!Working in a lettings agent is a great way to gain a grounding in the sector and also help you start to build a network of contacts.This video may give you some insights into how to move forward as Hilary is in a very similar situation to yourself:
Hope that helps for starters and good luck!
Vanessa Warwick Landlord and Co-Founder of PropertyTribes.com **If you have got value from Property Tribes, find out how you can support it in remaining a free to use community resource**
what you saying is you have no money or little money
but you have the knowledge to be a Landlord
I think you are on a very uphill struggle to be honest - you need cash to be in this game in 2019 not just knowledge
If I was going to join you, I would want to see a track record and your qualifications ie ARLA etc.
Learn Change and Adapt ?????
All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.
Think you've missed the OP's point entirely, DL...
OP can you explain what that is ?
I think the original poster is thinking of ideas of how to build up the deposit to get started. Sourcing properties is one of those potential ideas.
I understand that
My point is why would any investor use the new members services
It has to be with credibility
What credibility do they have to offer their services?
So how would the OP gain credibility in your eyes? I think they're looking for ideas? In your wealth of experience, what would make them look more appealing in your eyes (I know you source your own properties but plenty of other people don't have the time or inclination to do so)?I would think to do a few dry runs of properties and preparing packages. Get some feedback from friends/colleagues.When your package is pristine, maybe speak to some contacts that have been picked up....?
I can't knock you for trying but in the current environment it will be an uphill struggle. Better to stay with your current job build up experience and network. Something could well come along but for now improve your skill set.