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THE INITIAL INVESTMENT
So, to become a professional landlord you need bundles of cash – false! A portfolio can be amassed from nothing or as little as £500, as I did five years ago. We have access to cash reserves that we do not even know about because we are not fully aware of certain financial products on the market.
The term ‘initial investment’ implies that starting capital is required. However, even though it is advisable to have an initial investment, it is not mandatory to set up a multi-million pound investment portfolio – no matter what business experts say. I’m sure you’ve heard many testimonies of multi-millionaires who started with a couple of pounds in their pocket. What made these people succeed was their attitude to risk. To become a millionaire in business you have to take a certain degree of risk. Otherwise, we would all be rich! However, I expect that many readers do not have the same attitudes to risk as the millionaires I have just mentioned. The beauty of property is that you can invest in property according to your own personal attitudes to risk.
Lets look at the risks in investing in property. There are three core elements making up.......
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