How To Make £1 Million Cash In The Next Recession With No Money
I’ve said it before, and I’ll say it again: making money is easy. Ridiculously easy. Of course, everything is, when you know how, right?
If you measure success by making money, then pretty well everyone – 98% of the population – is already successful, because they’re all making money right now! OK, it might not be much, but it’s a start, and everything starts with a start, right!
How many times have you watched top sports stars on TV making a fortune on a weekly basis doing what they love? Marathon runners, footballers, cyclists, racing drivers.
OK, they’re at the top of their game right now, but at one point they were not as good as you!
You see, disabilities apart, you know how to run, ride a bike, play football and drive right now, at some level. You started, as does everyone, at point zero, and learned how to perform a particular activity. At some point, though, you stopped improving for whatever reason and hit a plateau in that particular skill set. The top players didn’t: they kept practising, got better and better, and reached the top, where the rewards are great.
Making money is just the same. It’s a skill that you have already acquired to a point!
The problem is, you stopped practising and improving! You reached a plateau and you can’t get past it, and the reason for that is that you’re too comfortable! Your J.O.B. gives you enough money to live on – just – and you feel no pressing need to make the extra effort required to make Real Money!
So, if that’s you, and you’re happy, congratulations. Your life will, barring unforeseen calamities, carry on as it is now.
However, if you really, really want financial success I will show you right now, how you can easily Make £1 Million Cash In The Next Recession With No Money.
Be aware though, that nothing comes from nothing, and there is a cost to you reaching the heights of financial success, and that is Desire, Commitment and Focussed Action, just like those top sports people you admire. Make no mistake, without those qualities you will fail. Or at least, stay where you are…
If you’re still reading, well done: you made a start!
Before I get into the nitty-gritty of how to make a million, I need to tell you a story about how I came to get involved in this particular strategy. Besides anything else, it will help to illustrate how necessary the qualities of Desire, Commitment and Focussed Action are…
I owe it all to the President of the United States..!
Yes, it was Donald Trump who started me on Lease Options. Not personally of course, I’ve never met him, but in the early part of 2010 I was reading one of his books (The Art Of The Deal) wherein he explains how he acquired huge amounts of properties in Manhattan without buying them or using his own money!
He controlled them using a contract called a Lease Option and became a billionaire!
I found out that a Lease Option is a contract where the Buyer leases a property from a vendor for a set period of time (The Option Period) for a nominal monthly sum (usually the monthly mortgage figure) and pays a fee for the privilege (The Option Fee) the minimum legal amount being £1. The Vendor has an Option to purchase the property at any time within the Option Period at a price determined at the time of signing the contract (usually the prevailing market price). The vendor does not have to buy, but if he decides to do so, the Vendor cannot refuse.
Trump’s mantra is: ‘Control everything, own nothing’, and lease options are a way of ‘piggy-backing’ a vendor’s existing mortgage to control a property and profit from it without having to go through the mortgage process yourself. The benefits of this will be obvious: no need to tie up your cash in a mortgage deposit, no stamp duty, surveys, fees, or solicitors to pay for, no credit checks (you can do this even if you’re bankrupt!) and no long drawn-out timescale and massive profits!
Well, this was a ‘Eureka’ lightbulb moment for me. I’d been in property since 1986 and had never heard of lease options, but my imagination was fired: if they worked over ‘there’, they must work here, right!
I started trying to find out more information and quickly came to the realisation that virtually nobody in the UK was utilising this strategy. There were no courses, no books, and nothing on the internet! That wasn’t going to stop me though, and I piled right in, spending the next six months driving round the country visiting estate agent after estate agent trying to negotiate a ‘deal’.
It was a catastrophe. I knew the basic idea, but I didn’t really know how to find a suitable property or how to negotiate them. I had problems trying to have a contract drawn up as well: no solicitors had ever heard of lease options and didn’t know how to write one. I didn’t give up. Over the Christmas and New Year holidays 2010/2011 I sat down and dissected my entire approach. I read more of Trump’s books and came up with a completely new way (for me) to approach agents. I figured that instead of walking into their office and asking for deals, I should explain how I could make money for them!
It worked! Over the next seven months I completed 48 option deals on property worth nearly £6 million and the most I paid for any property, including the fuel to go and see them, was just £55. Yes, you read that right, £55!
I was in Property Heaven. I took August off and wrote my book ‘How To Acquire Property For Just £1’ (available HERE and please see notes at end) and joined the speaking circuit, spreading the word about options. Very few people had heard of them then, but today they are a very well-used strategy in the UK. During my many speaking engagements I made a point of saying to investors – experienced and beginners – that if they are not using Options to build their portfolio they are losing out, big time. Options are the closest thing to FREE MONEY you will find! The good news is that the concept is easy to learn and the knowledge easy to acquire.
So, how can YOU use Options to make £1 million during the next recession, with very little knowledge of property investing and with very little, if any, money?
It’s important to understand what happens in a recession, and the effects on the property market, and the last big recession is a perfect example.
It happened quickly. The UK was already reeling from the collapse of the mortgage company Northern Rock, when, on 16th August 2008 the American banking giant Lehman Brothers filed for bankruptcy protection.
That was it, the recession was here. The economy contracted, banks stopped lending money, businesses could not invest, jobs went and people could not afford their mortgages.
Repossessions rocketed. The property market went into meltdown and was flooded with below market value properties. The problem was, nobody could take advantage and buy them because the banks had made mortgages virtually impossible to access! Many property investors went bust because they did not fully understand the business when they jumped on the bandwagon in the early 2000’s.
This kind of situation is typical, and will occur again during the next recession. When will that recession happen? No-one knows, but the last one happened almost overnight, and Warren Buffet and almost all top financial businessmen predict that the next recession is imminent, and I’m not going to argue with them!
So, in adversity there is opportunity: a stagnant housing market. Hundreds of thousands of below market value properties available. People can’t buy. Sellers can’t sell. Repossessions through the roof. How can we profit from that?
Lease options is the answer!
Put yourself in the shoes of a desperate seller. They are about to have their home repossessed but can’t find a buyer. Repossession is generally followed by bankruptcy and things are looking grim.
What is their biggest problem? Paying the mortgage…
What do you think they would say if you offered to lease their home and pay their mortgage for them, and at some point during the lease period, buy it from them at full market value!
They’d bite your hand off!
Of course, they would have to move out and find alternate accommodation, but they were going to have to do that anyway, and at least they are not going bust. Deal done, you can now rent out their property and benefit from a passive monthly income.
How many deals could you do? Up to you, but during the last recession, and having only started in 2011 and working on my own I did 94. You could do 100 as a very easy minimum with my help.
Assume the average minimum net profit from letting the properties was only £200 (very, very low, but I’m keeping the figures realistic for you) you would be netting £20,000 a month. That’s £240,000 a year. Even better is that when the economy picks up and house prices start to rise, it’s you that benefits from the increased equity.
Given that residential property doubles in value, on average, every ten years, it means that a property valued at say, £200,000 when you acquired it would be worth £400,000 ten years later, and that £200,000 uplift is all yours. You can sell your properties and take the profit. 100 properties at £200,000 profit is… well, I’ll let you work that out.
Of course, the figures will differ, and I have used low average figures here, but you will surely see the potential. Just 10 properties (and you could do that in a month) could make you in excess of £2m, and that’s without your monthly rental income providing a very nice living.
That’s it. It’s no more difficult to do than the job you do every day, is lots more fun and waaaay more profitable. It’s how the wealthy make even more money, because of course, they have staff doing the work for them…
If you’re interested, I can help you set up your business. I can coach you in all the negotiation strategies that get you the leads and the deals. I can give you the contracts and all the associated paperwork and hand-hold you through the entire process. I can guarantee you success.
Just contact me and let’s have a chat.
Oh, and by the way, this works any time, too, not just in a recession! There are always motivated/desperate sellers that you can help…