7d • General discussion
The Buy to Let SNOWBALL – the true way to build wealth in property 🏡💰📈
Buy a property now for say £100k (North East prices) & after costs earn £250 pcm. This will cost you approx. £30k-£40k of your own money (depending on specific property) using a 75% loan to value mortgage.
That property is predicted to grow by 28.2% over the next 5 years (Savills, based on North East) – meaning the property will then be worth £128,200.
Remortgage the property at the new increased value to release approx. £20k (tax free too!) + your 5 years rental profits of £15,000 = total £35,000.
Buy another property 🏡🏡
The next time around you then have 2x properties to repeat the process on, this then doubles each time 🏡🏡🏡🏡
& the rent is increasing too ☝️💷
Playing the long-game creates serious wealth 😎
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The Buy to Let SNOWBALL – the true way to build wealth in property 🏡💰📈
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