Archive for the ‘General Information’ Category

Wealth Creation comes from what you do with your most precious asset - your time.  Your goal is to get massive returns on your time.

Wealth Retention comes from what you do with most transient asset your money.  Your goal is:-

1)  Don’t lose it

2)  Grow it safely our time

10 Deals in 10 weeks

Wallingford £40k BMV £700 refurb (2005)

I have seen your advert in the paper and I want to sell my property.  I think the property is worth £120k.  I can take £110k said the voice on the phone.  20 minutes later I was sitting in his living room drinking tea.  I hate this place he said too many bad memories, my girl friend has run off with her boss, I have lost my job and I’m behind with all my bills.  How quickly can you buy it again he said. 3-4 weeks is the norm we have done 2 weeks but we had to pay both sets of solicitors, a bonus I replied.  4 weeks will do he said yes £105,000 will be fine.  Against the advice of my solicitor (good old Vicky) on exchange I gave him £1k to sort his bills out.  In return he started helping my painter paint magnolia over his lovely yellow and purple walls.

One week later with the painting 50%, there I completed on the Friday. One common problem he shared with many of the other distressed vendors was that he couldn’t afford to pay his solicitors a deposit.  So he used a second set of solicitors (a conveyencing firm my solicitor used to work for that she said she could work well with).  I used to undertake to pay my vendors bill should the deal fall out of bed.  I no longer have to do this, because of the amount of business we are now doing they have agreed to swallow the bill if a deal falls out of bed.

On the Monday he moved into his new place.  A lovely room, 2 miles away paying me £70pw.  He had impressed me with his comment and expression I want to sort out all my debts before I leave, I bat with a straight bat and I know where I am.

Re-mortgage is now in, I borrowed despite the valuation of £145K 85% of £135,000 as I want my rental income to be £200 more than my mortgage.  This lovely 1980 built 2 bed semi with a garage has just rented at £650pm mortgage is costing me £429pm. Re-mortgage of £114,750 has given me £10k positive cashflow after repaying original mortgage and the £16k deposit and 2% interest per month I borrowed.  The loan was secured on a different property.

just to let everyone know, my new Blog is now up and runnng.

Glenn’s advice and mentorship has helped many make fortunes in property. Below Glenn answers the questions you have put too him and discusses real issues that you have related to your property portfolios

“Glenn’s course, mentoring and ongoing practical and often money saving advice has been absolutely invaluable to me and has enabled me to build a property portfolio of over 100 properties over the last two years. Talk to him – he says it as it is and I’ve never caught him out”

David Peters - April 2009