Please do not spend a penny on courses regarding buying property! I am going to let you into a little secret.... Buying a BTL property is not rocket science and its very easy!
Do not let people fool you that this is a complex thing to do. There are lots of free resources out there that can massively help you on your property journey. Hopefully some of the resources below and explanations will be of use to you and help you finally take the first steps.
One of the first concepts to understand is how simple it is for a vanilla turn-key BTL property to generate an income for you and how it can grow in value and ultimately re-pay you all of your initial investment spend back, in JUST 5 YEARS!
Leverage and compounding interest are two key concepts that can help new investors understand how to grow their wealth in the property market, especially when investing in rental properties.
Leverage: When you buy a property, you don't have to pay the full amount upfront. Instead, you can borrow money, like a mortgage, to cover 75% the purchase price cost. This is called "leverage." By using this borrowed money, you can own a property without spending all your own money. This allows you to buy more properties with your capital.
Compounding interest: This is the idea that your money can grow faster when you keep reinvesting your profits. For example, with your rental income from a property, instead of spending it, you can use that money to save for your next property deposit which will allow you to buy more properties. Over time, this can lead to your money growing much faster than if you just saved it without reinvesting.
When you combine leverage and compounding interest, you can potentially grow your wealth more quickly as a landlord in the buy-to-let property market. By borrowing money to buy properties, and then reinvesting the rental income you earn, you can take advantage of these two concepts to expand your property portfolio and increase your overall returns over time.
Whether you are buying your first ever property or looking to expand your portfolio, there are a huge array of resources out there that can help you. Below are my favourites and ones that I either used at the start of my personal journey or are still using to this day!
Technically these are not free but they are very cheap and what you will learn from them is invaluable. You can get the hard copies of the books, but personally I find that the audio content is easier to consume as you can listen whilst you are driving, taking a walk, in the gym etc. A great way to maximise your education time.
Rich Dad Poor Dad is Robert's story of growing up with two dads — his real father and the father of his best friend, his rich dad — and the ways in which both men shaped his thoughts about money and investing. The book explodes the myth that you need to earn a high income to be rich and explains the difference between working for money and having your money work for you.
The Complete Guide To Property Investment gives you the insight, information and action plan you need to navigate this new property landscape and come out on top.
It starts by demonstrating – with real-life examples – a range of strategies suited to achieving different investment goals. Only then does it take you step by step through every aspect of researching, financing, buying and managing investment properties.
These can be an amazing resource, and one that you can listen to anywhere in the world. There are a huge number out there but these are my go-to listens.
Rob & Rob discuss the latest property news and share their knowledge on a different property topic every week. And don’t miss the popular “Ask Rob & Rob” shows, where they answer questions from listeners like you.
The Property Podcast is downloaded over 180,000 times a month, and over the last six years has become firm fixture in the week of aspiring and established property investors.
This is part of a "paid" training company, but the podcast is free.
Investing, business, finance & economics - Mark Homer has the experience to help you with many of your questions & challenges. Mark My Words is a successful, eccentric & introverted businessman’s experience of 20 years with no waffle, ads, bravado or big pitches. Mark will interview the worlds most successful business, finance & money experts as well as impart his knowledge in a factual, direct manner. Mark runs & owns multiple businesses & property portfolios so teaches you what he does on a daily basis. A contrarian investor & capitalist, Mark will help you raise more finance, make more money & grow your business empire.
A podcast for expats investing in UK property.
Did I mention that I have been a guest?
Fed up with working in supermarkets in the North West of England, Darren McNeill of FMP Property Groupstarted keeping a Progress Journal on Property Hub in February 2017 as he was started to build his property portfolio.
At that stage he only envisaged buying a few Buy to Lets. But as he documented his progress on his journal, private investors started contacting him to lend him money so that he was able to scale his property business which now stands at 25 properties.
Unknown to him until we recorded this interview, Darren’s journal played a significant role in both my own property story and this podcast!
Listen to Darren’s inspirational story as we discuss the many benefits of keeping a property journal.
Another must listen episode!
A place where you can read about things other investors are up to or simply ask your own questions.
I personally started writing a journal before I had even bought my first property on the Property Hub Forum. 6 years later with over 528 replies and a massive 42,000 views, this is the most popular chat thread on the forum!
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