There’s lots of reasons why, but today I want to get right to the core and share one of the biggest things I see hold people back.
They think they need a ton of money for a big down payment.
Yes, having a bunch of capital to invest lying around is great, but you don’t need a huge down payment to get your first investment property.
Here’s the crazy thing, when I first got started, I believed this myth, too! But what I didn’t know it at the time, is that this turned out to be a huge mistake.
Because then I didn’t have any money left to buy the next one and there was no way I was going to keep living in my parents’ attic to save up more money. I realized the only reason I put down 20% for my first property is because I thought that is what you were “supposed” to do.
In other words, I didn’t know what I didn’t know.
But I do know now, and I want to help you avoid making these mistakes. You don’t need to lay down these big down payments to get started, you just need to get started. Buy that property and keep money back for your next investment.
You’ll know if you read my blogs regularly that I’m so happy to share these insider tips with you. My aims are to help you on towards success and reach your financial goals. It took me five years to go from a debt of $40,000 to a place where I was commanding a passive income of more than $300,000 a year.
To go from where I was to where I am now required a lot of hard work and for me a lot of time spent studying the habits and decision making of the successful people I admired. Having got to know what makes a great decision when it comes to investment in real estate, I now also know how to avoid the bad ones.
I also know that having financial freedom allows me to do what I really love, and it can for you too.
For me that was setting up my own company and helping as many people as possible to achieve their own versions of success.
For you that might look a little different but by sharing my experiences and helping you avoid the pitfalls and traps when it comes to investing in real estate, we all go forwards together.
I hope you take on board what I’ve revealed today and really get why you shouldn’t put down a big down payment. I didn’t know what I didn’t know, but now you do so good luck!
All my best