Welcome To SingingPig.co.uk

Hi There

I'm a new member to the site and thought I'd introduce myself. 'Hello'

I'm looking for some seminars or recommendations of any good books people have read which I can learn more about this business from.

Any advice welcome.

 Thank you

Hi, I'm Suzie and live in Leicester, I'm fairly new to all this, I have 2 BTL's and one completing this week. I have learnt so much from reading forum posts on here and on the 'Property Tycoons' forum  http://www.property-system.com/ 

I've read some great books that have been recommended on the forums including:

• Tested Advertising Methods by John Caples (you can't find BMV property if you don't know how to sucessfully advertise for it!)
• No B.S Business Success by Dan Kennedy (great read, all about the attitude you need to succeed in business.."Total power comes from accepting total responsibility" ie: YOU are the only person who can make YOU successfull. If you want things to happen YOU have to make them happen.

There's loads of material to read but in my experieince you learn quicker by reading the forums, following the threads and asking LOTS of questions, don't worry if you think your question is silly, everyone has had to start somewhere and 'if you dont ask you wont get'.

Wishing you all the best

 Suzie    http://www.bluecatproperty.com

Hi Suzanne,

I am new to property investment and I went to an IAP Global seminar last night and was wondering if you could give me some advice?

They were offering property where you do not need to put any money down (apart from a fee to the company), is this legal now?

I have read quite a lot around the subject and it looks that it is ilegal and I asked the consultant last night and he said if Solicitors are doing it, then it is legal.

Please help?

Sarah

Hi Sarah,

I'm not an expert on the subject of NMD but  know a lot of people who have done it/are doing it and I myself am just completing on a deal at present which is almost NMD ( I'm paying the bridging & solicitors costs)

I've also read that it's illegal but the people who finance the deals get around it by getting the vendor to sign an 'option agreement' (try looking it up on the forum posts) which should cover you in the event of any problems arising.

Sorry I'm not much help but I'm quite new to all this myself. Post your question to the forum, you'll get lots of good advice!

Good luck,

 Suzie

Hi Sarah

Have replied to your 'IAP Global? thread you started...avoid these guys. The are essentially the same outfit who founded and ran Inside Track. The general notion of what they teach is true - unfortunately their execution and approach, when they traded as IT, was proven to be a scam of massive proportions.Search a lady named I think Tamsin Barks on here...I guarantee you will soon lose interest after you've read the threads she appears on. Theres no reason to believe that these leopards have changed their spots

Hi Suzanne,

There are no legitimate ways of doing NMD deals (using mortgage finance).  Period.  There are no grey areas, whatever anyone may tell you.  Just because everybody is doing it does not make it right either.  Many people claim to be doing NMD deals but in reality they cannot get any to fruition.  It is you who signs the mortgage application - not the solicitor, deal sourcer, or mortgage broker - so please be very clear on what you are getting yourself into.  If you still want to go ahead, then at least you can take personal responsibility if something goes wrong rather than trying to blame the people who sold it to you - who will be long gone.

I am concerned that you appear to know this and use words like "get around" to justify why you are getting involved.  Please ask yourself if that is really the best foundation on which to build a long term and sustainable business.  It isn't IMHO.

There are no short cuts, get rich quick, or no money needed ways to create wealth in property investment. 

In fact, I believe that the quickest way to achieve the best possible results is not to spend one minute of your time thinking about short cuts to instant wealth.

As for IAP, their claims of instant equity and buying property with no money are about three years out of date.  You'll need any money you do have to pay their £40K portfolio building fee.   And of course, it is paid in advance, just like Passive Investments who recently disappeared with over £10 million of client's money.

Please don't believe the hype. 

Hi Vanessa

Thanks for your advice. It's difficult for me because I don't have a lot of excess cash to put in full deposits at the moment. I KNOW it's not legit I just don't know how I'm going to get around the 25% deposit!

I do not intend to get into 'passive' investments, I have been approached by several of these companies (Andy Shaw for one) but prefer to be more 'hands on'. I'm fairly new to property investment, I have 2 BTL's which I bought 1 1/2 yrs ago with full deposits and one that's completing soon with a bridging loan.

I do appreciate your reply and advice and would like to speak with you further when you have the time.

 Kind Regards

Suzanne

Thank you for taking my advice in the spirit that was intended, Suzanne.

Glad to hear you want to be "hands on"!

I do hope that you have your mortgage in place and a completion date set before instigating the bridging loan.  I am sure you already know this, but I try and never assume anything in this game.  You do not want to get stuck for months on a costly bridging loan, especially when most lenders require seasoning of the title and want to see your ownership being a minimum of six months (listed on the Land Registry).  They will check that prior to completion.

Always happy to chat on the phone, on my Property Tribes forum, on Twitter, or at our networking events.  The next one is in Guildford on 23rd February and the details are in the Networking events section.

Good luck and hope to catch up with you soon.

V.