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RU-vid Premieres: Every Wednesday: Money Matters with Paul Smith Every Sunday: Property Investing with Abi Hookway
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I hope I’m blocked from commenting on this channel as I can never write anything positive. I own 19 residential properties in the UK as my side hustle and while the value of all have doubled in the last 10 years (as Abi always mentions) I will only benefit if I sell them. The rental income (£180k) covers loan repayments, repairs and renewals, management fees and taxes and doesn’t leave much left. I have a bricks and mortar retail business that is 10x as profitable. My advice is work for fast pounds (trading) and not slow ones (property). Property is good for generational wealth and you have to get into it as young as possible.
Total bollocks you obviously were not there in the 80s and 90s and 2008 when lots of people lost their shirts, I have, I built my wealth slowly and surely, I still have it, when a lot around me in my age group haven't got a pot to piss in.
This comparison doesn’t make sense. The footballer earning £260million in his career, could just live a superb life spending £5million a year. Are you that wealthy? You exchange your time making videos for RU-vid money.
So in essence what your saying to people with zero mortgage, is take as much money out of your house that you can, To put down on another house get a mortgage on that 1. So the rent you’re getting now needs to pay 2 mortgages, plus interest. My guess is Probly not worth the hassles
Easy. Once you are doing one deal a month, it won’t be long until you are doing more, which then enables you to start building a pot of money that can be used to buy one of your own deals (and these deals create their own cash flow). Keep doing this over and over and you’ll have a passive income generating portfolio 🏘️🏘️🏘️
Just like that. She makes it sound so easy lol...if only...Like you would quit a £50k job on the hope you can find a cintinual stream of properties lol. I notice she doesn't mention self employed costs replacing pensiin contributions and so on. Also her BS back story keeps changing. First she never went to uni then she did. Got divorced was 24k in debt but somehow managed to borrow money to flip houses. Amazing. Utter B.S.
The message I got from Abi here was not to quit your job and hope. It’s important to ensure your side hustle can financially support you before you quit your job. It is also quite feasible that you will find a continual stream of properties, the number of estate agents showing stock turnover + the number of new ads posted daily across the UK is huge. There is a lot of garbled info on the net about Abi, but we all know the net is full of as much disinformation as there is information. I’ve had the pleasure of meeting Abi a few times, and I’m happy to help put the record straight for you. She was indeed a divorcee / single parent with over 20k debt and living in rented accommodation at the start of her property journey. In doing her deal sourcing this brought her into regular contact with property investors (who were buying her deals) which eventually opened the door for joint ventures.. and that’s how money can be privately borrowed to flip houses. It’s all about knowledge and knowing the right people. I recommend the two day Touchstone Education course if you would like to learn more. It’s a fantastic community and will really help you if you are serious about wanting to build a property business.
don't focus on her... just listen and work out if it could work for you ... what alterations to the plan would be needed in your case to success... or... you can focus on her and her story... and lament about b.s. and stay at what you are doing and don't do anything besides whining and moaning... 🤷♂️ anyways... good luck 👍
I retired at age 53, so I am in my early 60s. Many of them resisted me because they couldn't understand the idea of not working if it wasn't necessary. I considered the phases of my life. I worked very hard to achieve what I have now, but in my last years, I owe it to myself to "stop and smell the roses." In my instance, I departed the nation after retiring and currently reside in Latin America. It made it possible for me to appreciate my new surroundings while escaping all the bad things that were going on in America. Nobody that I know of regrets retiring has yet to come to me
Nice way to retire. For me, I believe retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My wife and I both spent same number of years in the civil service, she invested through a wealth manager and myself through the 401k. We both still earning after our retirement fund has grown way more than it would have with just the 401(k). Haha
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than a million dollars by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation
I definitely share your sentiment about these firms. Finding financial advisors like Joseph Nick Cahill who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them
Problem is, most people wouldn't know a good property deal if it bit them on the ankle. I've spent years trying to find good "property sourcers" and gave up after about ten years as they were all hopeless !
I'd welcome any restriction on landlords and investment companies with open arms. It's almost impossible to get on the property ladder anymore and having a group of individuals and organisations taking up starter homes with the intention of helping themselves to someone else's salary isn't helping that matter.
When is good debt not you v to cost you… recently.. there is no guarantee of rental income / or a good tenant … be cause the economy is soooo poor… that your tenant can lose his / her job the week after signing a tenancy agreement with you… the laws under Labour - are going to make it so unprofitable for landlords… and sooooo difficult for tenants !! Watch what happens . Take advice from a financial advisor - not someone who “claims” to be a Zillionaire all the time… Yao - yap and some more Yao Yap yappy…😂😂😂😂
