Money Myths: Renting is just flushing your money down the drain! Money Tips, Tricks & Tactics #27.pdf
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In today’s video we discuss the money myth, renting is just flushing your money down the drain! What’s your thoughts? Any ideas? The issue here is this, whether you are renting or own a home, both are essentially liabilities and take money out of your pocket either way. But when you rent first, instead of buying to live in first, you have the unique opportunity to save up a deposit for an investment property from the beginning, which means you’ll become a landlord and start generating more money for yourself, which is the aim of the game here! Get your money right first people! So what do you reckon? Share your thoughts and ideas.
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Money Myths: Renting is just flushing your money down the drain! Money Tips, Tricks & Tactics #27.pdf
- 1. MONEY MYTHS: RENTING IS JUST FLUSHING YOUR MONEY DOWN THE DRAIN Money Tips, Tricks & Tactics #27
- 4. TODAY'S AGENDA Is it true? 1 The facts 2
- 5. TODAY'S AGENDA Is it true? 1 The facts 2 The problem 3
- 6. TODAY'S AGENDA Is it true? 1 The facts 2 The problem 3 What next 4
- 7. IS IT TRUE? No, it's not true. Renting is not flushing money down the drain, despite many people beliefs, just so long as... Whilst renting your saving up to buy an investment property, which can pay you instead. Something which most people who buy a home to live in, never get around to actually doing...
- 8. UK population is approx 68 million THE FACTS Did you know? According to (property118) there are approx 2.6 million landlords, from a UK population of approx 68 million, which is only 3.8%. According to (Gov.uk) 52% of landlords purchased their first property with the intention of renting it out. Over a third (35%) bought their first property to initially live in themselves. Few landlords acquired their first rental property through inheritance (7%) or as a gift (1%). 1 Approx 2.6 million landlords (3.8%) 2 52% of landlords purchased their first property to rent out 3
- 9. Make your first property purchase an asset, not a liability!
- 10. THE PROBLEM A lot of people get sucked into the idea of owning their first home, to live in. And then spend years saving for the deposit.
- 11. THE PROBLEM But once they get their first home, they struggle to afford to save up again for another one, so they don't ever get around to doing it!
- 12. WHAT NEXT So here's what to do next, now that we are clear regarding the money myth...
- 13. WHAT NEXT Get on the property ladder, but as a landlord first! 1 So here's what to do next, now that we are clear regarding the money myth...
- 14. WHAT NEXT Get on the property ladder, but as a landlord first! 1 So here's what to do next, now that we are clear regarding the money myth... Rent a home to live in meanwhile, get a few under your belt first, before buying a home to live in. 2
- 15. ACTION ITEMS Your action items for today's video are as follows... 1
- 16. ACTION ITEMS Your action items for today's video are as follows... 1 ONE Start saving for a deposit
- 17. ACTION ITEMS Your action items for today's video are as follows... 1 ONE TWO Look for your first investment property Start saving for a deposit
- 18. LIKE, SUBSCRIBE & SHARE Leave a comment below & I'll give you my 2 cents...