Finding Financial Freedom with Property Investment Expert Glenn Armstrong
So many of us are looking for financial freedom and still struggling to find it. Glenn Armstrong is a 49 year-old property millionaire whose portfolio of 193 properties is worth over £30 million. At his company G & A Property, Glenn has gone on to share his knowledge with would-be investors up and down the country in their dream to become truly financially free; at least 24 of his students are now equity millionaires. He has the following steps for would-be property investors who want to get on the ladder without spending any of your own money.
Glenn’s Top Tips for Would-Be Property Investors:
1) Choose the right area for you – a maximum of 1 hour from where you live and avoid the scatter gun approach, as this could be a nightmare to manage. And always research an area thoroughly before you buy.
2) Don’t get carried away on buy-to-let refurbishments, examine your target market and do the refurbishments in accordance with this market rather than your personal tastes so as to avoid any unnecessary expense. You need to look at the profit margins rather than the actual value of the house. Ask yourself a) Will it not let if I don’t make this part of the refurbishment? b) Or will it increase the rental income I receive?
3) Choose your buying criteria and stick to it, focus on your cash flow and not capital appreciation if you want to build a profitable portfolio!
The property market changed this March 2009 and the bottom of the market has now bottomed. Prior to this a good below market value (BMV) deal in my area, would be buying a property worth £120k for a price of £75-80k. These deals are now few and far between and we’re currently now only buying 5 good deals a month rather than the 20 we were buying prior to April; we’re now paying an estimated £5k more for these properties than we were. The reason being that motivated sellers have now slowed down, interest rate cuts are now having an impact on the market and there are less repossessions as building societies/banks are being instructed to be more lenient.
This could be a temporary turn in the market, but who knows, only time will tell. If you’re serious about building a property portfolio, here’s some simple advice. If you know the true market value of a property and are looking for a buy-to-let deal, try and buy it at 70% of that price, then you’ve built in your own safety net in case the market drops further. You need to be buying for cash flow purposes and you want to have at least a £6-£12k cash back when re-financing after refurbishment and at least £200 cash back positive every month. This is a safe deal for any would-be investor. The art of property investing is to be able to find these kind of deals.
As American Investor Warren Buffett said:
“Be fearful when others are greedy, and be greedy when others are fearful”
So many of us are afraid about making investments but we believe it’s all about having the right mindset, we teach would be investors the art of successful investing. To sign up for a free 5 part e-course on how to buy property without spending any of your own money please visit our website www.glennarmstrong.com
To get your eight FREE videos simply pop your primary email address in the box below. After confirming your email, your first video will arrive in your mail box.
One thing, you will need to add my email address to your address book. By doing, this you avoid any of the emails I send you ending up in your spam folder. One final thing; I hate spammers. So I will NEVER share your email with any third party.