To buy a property, you would need a deposit and a mortgage, in this economic climate, lenders usually require 25% deposit, for a house of £100,000 , you will need £25000 and £75000 mortgage.
For a 75000 mortgage on 6% , the mortgage is £375 per month. If this property can generate rental of £600 per month, then you will get £225 cashflow per month...
For this example, you will need to find a vendor whose mortgage on the property is £375 per month, and then make agreement to take over his mortgage, and baby sit his mortgage until such time you can find a lender for your mortgage...and acquire the deposit.. This can take a while, and may be a few years so lease option is an excellent way for you to take care of the property while you are looking for ways. Do not forget that you will also need to pay for legal cost and other ancilliary cost when acquiring properties...
Methods of acquiring it can be by ways of changing your spending habits...make more money by doing extra business such as internet marketing, Joint venture with others.... there are many ways.
If you like to learn more, please email askanitali@gmail.com
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