You have gone through the bank account and the financial products you have purchased so far. Does it feel hopeless? Do you have a plan to get a side-hustle? Not possible right now.
If you are wondering whether to wait until you have extra cash or you should clear ALL debt before you begin investing in property. This post is meant to awaken your senses to a new way of thinking. Start thinking out of the box. Where you are right now- could actually be the best place.
I thought let me unpack the strategies to eKasi and the suburbs we all come from. That’s what I know.
What this article will leave you with is: Inspired to read/ listen to podcasts/ YouTube videos/ Networks. We obviously find our stories from our friends and relatives, mentors. Do not let them scare you!
Is No Money Down even POSSIBLE? Is it a Scam, a Secret or a Fallacy? Let us look at the strategies right under our nose. YOUR NEW WORD is get Creative!
Firstly-What Property investing is NOT:
Property Investing is a right combination of numbers, it is a complex multi-dimensional maze
Property investing requires more than one blogpost, workbook and a seminar.
I cannot emphasize this point enough. Creativity must be preceded by a bit of personal (inner) work. Working through your fears, doubt and challenges. This is why we network and speak to other people or even engage a coach to hold our hand. And most importantly we read or listen to material that builds out confidence.
I believe we make too much ado about our “privacy”. If you link the strategy to your WHY …see if this strategy is not worth your while.
A strategy is as old as the world, but no one tells us about it. Most of us are unknowingly sitting on gold.
Most of us watched our parents/ aunts participate in stokvels to pay to buy flat-screen TVs or pay our university fees. Same principle! This time- we invest in an asset. Something that can be used
Join a Property stokvel: re-divert your payments from an endowment policy to invest in property instead. You can participate from as little as R1000 per month. Yes, those with R100 000 also participate in theses stokvels. Don’t let this deter your dream.
Air BnB your current apartment in a secure estate over the holidays.
Creative financing requires you to think out of the box and to begin getting comfortable with the “unknown”.
Education is key. This strategy requires relation shipping and partnering with other creative investors with cash. Your homework here is to bring “value” to every deal.
Determine what value you are bringing to the table. Is it any of this:
As you can see, all the above strategies have not asked you for money in your bank. What is required is a combination of Sacrifice. Education. Research. Networking. A Mentor.
Again- one blogpost can never be enough for an investor to make a decision, be sure to dig deeper into each strategy before you invest.