Welcome To SingingPig.co.uk

Hi,

I am a 23 year old professional gambler who makes good money 110k+ per annum, however, I also spend alot of this as can be expected at my age. I am now looking to make my money work for me and see property as a good place to start, especially at what is hopefully the start of getting out of the recession. I have read a couple of books and basically understand the basic principles of buying below market value but that is as far as my knowledge goes and so I was wondering what people thought of first starting out going through a company such as Rapid Property Investment and buying one of their already packaged deals. The basic deal seems to be put down between 4-8k for various legal costs etc etc and then own a property, guaranteed fully tennanted for 3 years, where this rent will cover mortgage repayments for the same time and have around £20,000 instant equity in a property say worth £100,000.

 So I was hoping that some of the most experienced investors could offer me some advice on whether they thought this to be a good start?? What are the advantages? Are there any pitfalls? And also I've wondered if they can secure such deals why would they sell them for such nominal value??

 Any help would be greatly appreciated.

 Tom

The only way I personally know how to invest is hands on. See every house I buy and research every area, buy for yield not equity and I don't gamble on a rising market. I suspect that whilst you gamble, you are successful at it and have found a way of reducing the risk. You can do this in property by being close to your investments and being involved with them. It isn't as exciting as hands off investing I am sure, and will involve you in real property decisions and negotiations which may at first seem an inconvenience, but will put you not a third party in control. 

Tom,

There have been a lot of failures when people focused on passive or hands-off investments. Blame the promoter or blame the buyers. I knew of deals done between an active investor and a more passive joint venture partner where the people built a relationship before doing significant deals.

Either put time into learning how to invest hands-on or put the time into making sure the person holding your money is someone you want to trust long term.

John Corey 

Hi Tom,

 I am an online poker professional and have been for the past 3 years.  Last year I started investing in BTL with some of my earnings.  My advice would be to set yourself up with a flat first (if you haven't already) as you are the best tennant you could possible hope for.  Then as Red Shoes suggests look to invest in BTLs flats in your area.  If you do your research you should be able to see which flats/houses produce the best rental yields.  I would try and make contacts with local estate agents/property management companies and explain you what you are looking for and they will forward any properties they deem that meet your criteria to you.

Mark

What do you play? Poker?

Hi Thomas- what do you gamble on full time?

 

Mark- what poker games do you play (levels)?

 

Cheers 

Hi,

 Has anyuone gave you any good advice? I have looked at Rapid Property Investement and they seem ok.

 

Mick

Google their names.  Any bad  press, just run a mile.

 I would personally do it yourself.  At the moment anybody can negotiate large discounts, and get instant equity.  Do it yourself and save paying someone else a hefty fee.

 Lets face it - the companies would be doing it themselves if their deals were that great!