How to invest in property and create passive income
how to invest in property and create passive income using the three-step property success formula I first learned this when I bought this property is one of the first houses I bought for 85,000 and I sold it for one hundred and eighty five thousand pounds. I'll show you how we did that in a second so we use a three-step formula to do this so why property well the reason why people buy property is because they want to buy the property rent out and make passive income. so let's say the mortgage on a property was three hundred pounds and you can rent that property for six hundred you make 300 pound profit every single month the great thing is that ten pays off your mortgage so all the time you have a property with a lot of cash locked in the property. which you can then release so let's say someone pays off your entire mortgage and your house is now worth two hundred thousand pounds you can go to the bank and say hey my house is worth two hundred thousand pounds I have no mortgage on it. I would like to refinance it and pull the money out or you can just simply sell that property for two hundred thousand pounds you have no mortgage to pay off now because your tenants have paid off your mortgage now.
you have two hundred thousand pound cash in your bank account that's just from one property you can also buy things that increase in value now when you buy things your about assets that go up in value. if you're listening to me right now you and you own a property your property is probably worth more than. what you paid for it so imagine if you have a lot of other properties that are all increasing in value and this of course takes care of your retirement. you know we shouldn't rely on pensions now because you know if they're not going so great right now and this property I bought here and I rent this property. out it makes me over twelve hundred pounds every single month from one property and that's passive income.
I don't deal with it I have some managing it and the money comes into my account every single month and so what how do we invest in property number one for passive income number two because the property increases in value. two of the myths that you think need is you need a mortgage to buy a property or you need to pause it to buy property these are two myths. you don't need a mortgage and you don't need a deposit to buy or control property this property here was on the market for two hundred and seventy thousand. I bought this property for two hundred thousand pounds and so why is this why am I telling you this because if you can buy a property at below the market value. when you invest your money you can take that money back out very quickly so you can buy another one another
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