Control your mind to achieve goals and get more done.
Reading You Will Own Nothing by Carol Roth, certainly is a journey. It is a scary journey, but one which could have a happy ending. You will decide how your ending turns out.
Continue reading “You Will Own Nothing by Carol Roth – my takeaways.”
Dave Ramsey is one of the most well know teachers in the space of personal finance. I particularly like his no-nonsense approach. His financial baby step system is easy-to-follow and will allow you to become wealthy in short time.
However, is he right about what he says about debt?
There is a rule of 300, which can help you determine how much money you will need to become financially independent. Here I explain what the rule of 300 is and how you can work it out.
Continue reading “The Rule of 300 – how much do you need to be Financially Independent?”
Here is my third property deal breakdown.
The property is a terraced house in the Bury area of Greater Manchester. The house was built around the 1880’s.
I use a financial bucket system instead of a budget. I’m not a great fan of budgets, as I find them inflexible and restrictive. Budgets that are too granular, that is, drilled down to specific spending categories, don’t consider the fluctuations in spending patterns and needs.
How do you 10x your money, for instance to turn £100 into £1000? Maybe you want to buy something that costs £1000, you only have £100 and you don’t want to use a credit card. Very sensible.
You make your money when you buy a property, so buy below market value. This is a common phrase you hear when talking about property investments and is certainly true when discussing the capital gains. It can also be true when you consider mortgage repayments, as the less you pay for the property, the less your mortgage will be.
Continue reading “How to get a Below Market Value (BMV) Property in the UK”
This was my first property deal and it wasn’t done within a limited company as the others were. There is many a tale to tell about this property, but here are the financial details.
Here is the deal breakdown on the financials of a property I’ve just completed on. I will do this with all the properties I purchase.
If you spend any time online reading blogs and forums on investing, you will no doubt read about why investing in property is a bad idea. However, there are many benefits and we should take the emotion out of the decision. If you have concluded that property investing is a good idea but you are still not taking the plunge, it maybe that fear is stopping you from investing in property.
Continue reading “Don’t let fear stop you investing in property”