in this video i'm going to share exactly
step by step what i would do if i wanted
to get on the property ladder but the
problem is i only have 1 000 pounds if
you've got one grand and if you haven't
got a thousand pounds guess what go get
it right go and
whack it on a credit card or just find
it because a thousand pounds is not a
huge amount of money because in this
video i'm gonna show you how with a
thousand pounds you can get on the
property ladder in 2022
in the uk that's a huge big deal by the
way because house prices now the average
house price is about 300 000 pounds you
need 25 percent as a deposit to buy a
house so that's
it's like what 75 grand plus stamp duty
plus um
solicitor fees
all those costs you're talking about a
hundred thousand pounds and to save a
hundred thousand pounds if i did a video
called what to do for a hundred thousand
pounds it wouldn't be that applicable to
most people but i'm sure you can get a
thousand pounds so okay if i've got a
thousand pounds is what we're doing i'm
gonna find a house doesn't matter where
it is because if it's a house
right if it's if it's a house in the uk
it's gonna be worth something maybe even
if it's 50 grand 100 grand it's worth
something i'm going to find a house
i'm not going to be picky about the area
i'm not going to be picky about it it
has to be really close to my home
because i've got a thousand pounds
beggars can't be choosers i just want to
get on the property ladder so i'm going
to look around for properties that are
for sale
and i'm going to find houses for sale
that have been on the market for months
and months and months and can't sell
i'm then going to speak to the sellers
direct and i'm going to speak to them
direct by booking viewings through
companies like purplebricks where you
deal with the owner direct or i'm gonna
find the title deeds online on the land
registry and pay three pounds that's
gonna leave me now with
9997 pounds because i just bought the
title dudes and i'm going to speak to
sellers
and i'm going to offer them something
called a purchase option agreement now
purchase option agreement can be done
for a thousand pounds here's how it
works you buy a house now but you agree
to pay for it when
later can you really do that with
properties yes you can this is the thing
they won't tell you this
they'll tell you when i say that i'm
talking about the media the government
the school systems they'll tell you
buy a sofa
from dfs or whatever it's called and pay
for it later they'll tell you buy a
holiday and pay for it later they'll
tell you get married and pay for it
later they'll tell you go to university
be part of us be part of the system and
and pay for your uni later but what they
don't tell you is you can actually do
that with residential property in the uk
right now
you can buy properties in the uk on a
purchase lease option and you can pay
for them
later
that that's huge news
okay why do you need a thousand pounds
then because you're gonna need some
money
right because it's gonna cost you about
750 pounds minimum just for the
solicitor fee so you need some money to
actually get that agreement so who on
earth
would let you buy the house and pay for
it later well let's find some people
right now let me show you how i do this
i'm going to go to
um a very famous website called
rightmove
rightmove.cod.uk
and i'm looking kind of i'm thinking up
north like some areas where houses are a
bit cheaper okay so i'm going to type in
somewhere like maybe like newcastle or i
could do stoke on trent
maybe even birmingham um liverpool
and let's see we'll do within 20 miles
because you know why because it doesn't
matter where it is
50 grand will go up to 150 grand
let's see how many houses are selling at
this price range we'll include under
offer at the minute so
over 4 000
a lot of houses that are selling from
between 50 to 150. let me see if i can
just change this and get rid of the ones
that are under offer
and that drop significantly let's see
what it goes to okay still over 1 000 to
go out so all these houses that are for
sale now the problem is is if you go
after some of these houses like let's
say this one if i ring up these guys and
i'm trying to negotiate with the owner
for sale board outside i ain't going to
be able to get a good deal on that they
won't let me you know how i know because
it was added today
so if it was added today ben charles the
gatekeeper are going to be like
oh no put forward your best and final
offer we've got 20 people that are
interested so you ain't going to be able
to negotiate and be flexible with the
seller however
if you look from not lowest price but
oldest listed
if you go to all this listed
so this is priced to sell
okay
price to sell
um interesting it's in durham how long
has it been on okay it's actually not
been on that long since june but what
i'm interested in is i'm going to click
here
i can see market information i can see
property sale history
so they bought it for forty six thousand
in two
2007
and now they're marketing it at 55 grand
that's crazy you know what that means
that means that from 2007 to 2022 the
market's hardly even gone up you know
what that means that means in the next
five ten years the market's going to
boom like crazy so i'm kind of
interested but it's not been on long
enough i want to find something that's
been on a long time so that why so that
i can then negotiate better so this one
this one's in durham i've got houses in
durham see i don't mind where it is as
long as it gives me money oh
see how quickly i can find these
opportunities this house
was bought in 2006.
what was happening in 2006
lenders were giving out 100 mortgages
now they don't do that now they make you
put down 25 back in 2006 it was
different that's why we had a recession
because the banks were giving out so
much money the banks run out of money
the banks stopped lending because the
banks stopped lending people couldn't
afford to buy houses house prices
crashed
so this house and this whole area of
durham by the way crashed so bad it's
still not even recovered but what
happens after a really bad crash a
really big boom
so this house
it was sold in 2006 and the buyer bought
it for 82 000 pounds they probably have
a mortgage of about 82 000 pounds
now it's on the market
for 79 950 trying to make it sound cheap
it's 80 grand right so it's on the
market for 80 grand i've only got a
thousand pounds
i can't buy this house
because if i'm buying this house i'm
only a 20 000 pound deposit and then i'm
gonna leave my legal fees and i'm gonna
have to pay stamp duties so i haven't
got i ain't got 20 grand i got 1 000 so
what am i going to do what i'm going to
do is i'm going to approach the owner
and the owner
has been trying to sell this ill house
since 2018.
june 2018. they've been trying to sell
this house for four years why can't they
sell the house the reason they can't
sell the house is because it's not worth
80 grand
it's probably only worth 70 grand
clearly
but no one's going to um no one's going
to give out 80 grand no one is giving
them 80 grand but they're not going to
accept 70 grand why not because they've
got a big mortgage of 82.
they're in what we call negative equity
they want to sell the house they're fed
up with the house they want to move on
but they can't because they've got a big
fat mortgage and the mortgage is
probably the same or even bigger than
the house so what am i going to do well
i'm going to i'm going to approach the
owner
and i'm going to say to the owner hey i
like your house i want it
i can see it's on the market for 79 950.
i know you bought it for 82. it's not
sold it's been four years how about this
how about
i'll buy it now
i'll take on your mortgage
you can move on with your life
i'll pay the mortgage payments i'll
become the landlord
releasing you from the property and i'll
pay you 82 grand which is 2 000 pounds
more than you're asking for it
which is way more than anyone's offered
you but
we need to give the market chance to
recover so i'll give you the money in
five years time
that's called a purchase lease option
agreement now you now take on the
property you can rent this property out
the mortgage payments on a property with
an eighty thousand pound mortgage are
probably going to be about 150 pounds a
month but the rent
what's the rent on a house like this i'd
have to do a bit more research it's got
to be at least 500 pounds so you're now
making 400 pounds maybe 350 after
everything 350 pounds a month profit
straight away
you've also got the option to buy the
property in five years time so what are
you going to do well your 1 000 pounds
is going to get you the uh he's going to
get you the property bank you've now got
you've now got access to it you've now
got control of it you've now got the
option to buy it anytime you want but
you're making 350 pounds a month for
five years
you're going to
use okay you're going to use that 350
pounds a month times that by 60 because
the 60 months in five years that's 21
grand
so
after five years you've got 21 grand
what are you gonna do with that 21 grand
you're going to use that 21 grand to put
down as the deposit to pay for the house
but here's the extra good news in five
years time that house won't be worth 80
grand in five years time that house will
be worth 120 grand minimum
so when you put down your 20 grand that
you've saved through the rent of the
house
you then immediately refinance the house
and pull the 21 grand back so what did
your 1 000 band do you're 1 000 pounds
helped you buy this property
completely for free get on the ladder
just because instead of thinking i've
only got one grand how do i get my money
you became creative and started thinking
how you can solve people's problems
using purchase lease option agreement i
hope you guys enjoyed the video um if
you did go ahead smash the like drop a
comment below and i'll see you next time
[Music]
you