Hook
More breakout videos from this creator.
If I've got 50k and I want to buy 10 houses, what most people do is save really hard, they'll make a load of money and then they'll dump it into a house. That don't work anymore. So the strategy is, you got 50 grand, buy the worst house on the best street, add value, refinance, then repeat. So instead of buying a house for 200 grand that's in perfect pristine condition, find a house in the same street that's really run down, that needs 50 grand spending on it. It's a mess, but buy it for 100k. Then spend 50 grand on it. It doesn't have to be your money. You can get a bridging loan. I've got my own bridging company up. So a lot of people say, oh, how do you get bridging loans? So I set my own company up. So buy a house for 100k, spend 50k on it. It's worth 200k. You've added value. So now you refinance it. Get a 75% mortgage, loan to value. And they'll give you 75% of the new value. So instead of getting a mortgage before you buy, you get the mortgage after you buy. So they'll give you 150 grand. You get your 50 grand back and you can pay the bridging company back.