How To Invest 60k In Property For Beginners: Looking to get started in property investment, but unsure where to start? In a recent video, I break down how one of my students turned £60,000 into a cash-flowing property. It is now worth £100,000 because of the Buy, Refurbish, Refinance, Rent (BRRR) strategy. He makes £1,900 a month in profit running the property as serviced accommodation.
Watch the full video until the end to see a full case study of exactly how he did it. You can watch the video at the top of this page or on my YouTube channel.
A lot of people want to get started in property, but only have a small pot of money. Investing £50k-£60k in property the traditional way won’t bring in much in the way of returns. That’s why the Buy, Refurbish, Refinance, Rent (BRRR) strategy works so well. This is where you buy a rundown property, do it up, and then mortgage the property based on its new value. Done correctly, this will allow you to pull all your money out of the deal.
In this article, I will explain how to invest 60k in property for beginners, using my student’s Buy, Refurbish, Refinance, Rent (BRRR) deal as a case study. If you find this article helpful, please consider sharing it with your friends on social media. I want to get property education out to as many people as possible, but I need your help to do it!
1. How To Invest 60k In Property For Beginners: To Find Good Deals, You Need To Move Fast!
My student managed to buy this property significantly below market value. A lot of people will say that they can’t find deals like this, but in reality it is because they aren’t prepared. They don’t have a lawyer in place ready to move fast. They don’t have the funds in the bank ready to send. They don’t have the mindset or training to make fast decisions.
If you want to find below market value (BMV) deals, you need to be able to offer the seller something in return. In most cases, that is speed. If you have the cash ready to go and a lawyer willing to expedite the process, you can negotiate amazing deals!
2. How To Invest 60k In Property For Beginners: Widen Your Search Area!
If you can’t find properties in your chosen area, you may need to widen your search. My student widened his search to the whole of the UK! While this is probably too wide a search for most people, it worked for him! He found the cheapest house on RightMove at the time!
On RightMove, you can extend your search dramatically by using the map tool. Simply draw the lines around where you want to search, and you can see all the properties in that area. You can even search the whole of England or the UK using the map search tool!
3. How To Invest 60k In Property For Beginners: Consider Serviced Accommodation, Even In Less Likely Places!
My student is making £1,900 a month in profit renting his cheap property out as serviced accommodation. This is despite the fact the property isn’t in a tourist spot or somewhere with a lot of business travellers. How did he manage it? Well, there is a lot of construction in the area, with builders travelling in for work.
Rather than simply putting the property on Airbnb and hoping for the best, he actively reached out to the construction sites. This has meant he has got plenty of bookings! Even if an area doesn’t seem like it would be good for serviced accommodation, with some out of the box thinking and marketing, it often can be.
How To Invest 60k In Property For Beginners: Get Trained!
If you want to learn more about how to invest 60k in property for beginners and many other property strategies, you will need some training. Why not come and learn from the best? Join me at my next £1 training event!
On the course, you will learn how to:
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Become a property investor using other people’s money so that you can get started straight away
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Utilise the 5 different types of raised finance so that you know exactly what to offer and when
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Find the perfect properties for the BRRR strategy
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Recycle your money so that you can ‘rinse and repeat’
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Build a power team you can trust, so that you can save time and money
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And much more!
Tickets are only £1, and you can get yours here. If you are ready to take action, I hope to see you very soon!
