Don’t be a wage slave, you can stop working and earn £1000’s in passive income from property in weeks.
How many times has it been said that it is easy to get rich quick from property? Forget about knowledge, passion, experience, professionalism and hard work you can earn a significant passive income with minimal input, and no capital. Sounds great doesn’t it?
But I would like to consider these claims in a little more detail.
So what is the amazing thing called passive income? It has been a relatively loosely used term in recent years. Colloquially, it’s been used to define money being earned regularly with little or no effort on the part of the person who’s receiving it. It has been hawked around by get rich quick speakers for decades, network marketing companies are built on it and seminar sellers have certainly got rich from it.
Passive income myth or reality?
I am sorry burst the bubble but in reality no form of investing is completely “passive.” The truth is, everything in life (at least when it comes to making money) involves some level of work and property is no exception.
Creating a passive income is easy.
I will put this simply no its not otherwise everyone would be doing it investing and making money requires work, perseverance, experience and above all knowledge and there are risks attached to any form of investment to grow income.
You get rich quickly.
This is unlikely, investing in property and building and generating a reasonable return from it has risks and it is certainly not easy or quick. Nowadays the opportunities for an unexperienced investor to make mistakes are becoming more and more likely. This is the result of increasing levels of regulation, changes to legal framework and increasing levels of taxation to name but a few of the issues any property investor needs to be aware of and consider.
Passive income implies something for nothing we should kick back topping up our tans drinking Pina Coladas and watch the money roll in. After all, it’s “passive” isn’t it? I would consider this to be misnomer, it is what people try to earn when they succumb to a get rich quick mind set. This is an undisciplined attitude that seeks to get something for nothing. I’m sorry, but there is no such thing in the business world so don’t waste mental space on such nonsense.
At this point it is very important for me to say that I am not anti-aspiration, in fact quite the opposite. Property in its myriad shapes and forms certainly offers those with the can do spirit and appetite real opportunities to make a lot of money Andrew Carnegie said:
“Ninety percent of all millionaires become so through owning real estate. More money has been made in real estate than in all industrial investments combined. The wise young man or wage earner of today invests his money in real estate.”
And I couldn’t agree more.
For the knowledgeable well prepared individual there are significant opportunities to secure substantial rewards through property, and one method of achieving this is buy to let.
But investing into the buy to let market has become more and more complex and hence the element of risk for the individual has increased. The result is that there is now a significant need for investors to seek out professional asset management companies that fully understand the complexities and who can put strategies in place to mitigate risk and work towards purchasing a solid investment that offers the best potential for yield and strong returns.
I am not selling a dream, I am not making disingenuous promises that anyone will get rich quick with no effort. What I can offer is help for those people with an appetite to work towards building strong returns and mitigating risk access the rewards that we know property can offer the canny investor. At Glenham we are investors ourselves with years of market experience and in that time we have helped numerous individuals buy high yielding residential portfolios that generate significant income for them.
If anyone would like to have an informal conversation about property and your objectives then please do drop me a line and we can schedule and chat.