Cash buyer territory
If you’re nowhere near being in the position to buy properties outright, read on - there’s a way you can benefit from all the advantages of being a cash buyer, without having a huge wad of cash.
Cash buyers have advantages:
- They don’t have to mess around applying for and getting approval for a mortgage
- They don’t have to do battle with the mortgage lender about whether or not their income meets their requirements to pay the monthly payments
- They don’t need to produce proof of income
- They don’t need to worry about their credit record
- They can buy properties that are considered unmortgageable by mortgage lenders.
AND THE BIG ONE
- They can negotiate the price down to well below market value (BMV).
If you’re paying cash there’s always a deal. If you have a motivated seller, cash is manna from heaven for them. No paperwork, no delays, just a big cash injection in their bank account - to let them get on with their lives and get the property headache off their hands.
Still wondering what this has got to do with you?
If you have saved a few thousand cash buyer territory seems like a distant dream - but it doesn’t have to be. You don’t need a bottomless bank account to buy like a cash buyer. You just need to know how to get the right funding.
I’m not talking about a mortgage - at least not at this point. I’m talking about bridging.
Bridging finance is a great way to fund your property investments. At least, if you have the right bridging lender.
Here’s how it works:
- Find a bridging lender who will lend based on the ACTUAL VALUE of the property,
- Find a property with a motivated buyer who is looking for a quick sale.
- Negotiate the price down to well below market value (the right properties can be obtained at up to 50% BMV).
- Borrow 70% of ACTUAL VALUE from your bridging company.
Then all you have to do is to either refurb and either sell or remortgage at full market value.
Yes, bridging has higher interest rates than a mortgage - but you’ll make far more profit than your costs when you can operate like a cash buyer.
Want to know how? Check out the Ninja Investor Programme.
- Contact Kevin Wright over on his Facebook page.
- Browse the Recycle Your Cash online training library by clicking here.
- Attend an upcoming 1-Day Property Finance Masterclass event - Book in here.
