Great advice and Tips. I have often wondered about those seminars and questioned if they actually delivered key tips and essential advice for property developers.

But I am very happy to save and create a nice deposit for the next property that I purchase.

I would definitely consider getting a part time job along side dancing although I travel a lot with the job so it can be difficult at times, however where there is a will theres a way!

I am about 3 weeks away from exchanging contracts for my 1st property and then it’s full steam ahead to save a deposit for the next.

I really appreciate your advice and i’m definitely going to take it onboard.

cheers and I’ll keep you guys up to date!

Jools gives some good advice.

My advice is pretty general, but make sure you only buy when you are getting a good deal, I’ve got too emotionally attached to some properties I’ve viewed, thankfully I didn’t revise my bid for them to be any higher than I first calculated – don’t talk yourself into it.

I’ve funded mine by working loads, full time job and a part time job. I’ve reduced lots of my outgoings – moneysavingexpert.com – and try to save every month towards having a bigger deposit or overpaying the mortgage. I also took the basic steps to improve my credit rating – got on voting register, cleared some old credits cards, didn’t make any credit applications etc

Would you consider getting a part time job doing something along side your dancing?

I can’t dance, thankfully I know it, but I’ve got a friend who’s applying to the various London schools to take him on.

Good luck.

The thing banks base their assesment on is risk – yes I know they did not follow their own criteria and were the cause of all this but they still hold the strings at the moment!

There are self assesment mortgages where you do not have to prove your income but they are getting fewer and fewer and more expensive as the fees are very high – ie the greater the risk the more you will pay for the privalage.

I would suggest you have a chat with an independant mortgage advisor and then another and then another. Get as much info as you can – knowledge is power. The more you know the better you will be prepared.

Your big problem(s) are your age, your income and your occupation. On paper you do not represent a good or even better than average risk to the financial institutions. If you had a large deposit (you need at least 25% for a buy to ley now) this may help but it is the banks who control the criteria.

It also depends on where you live – london is very expensive as opposed to the more regional areas. Investigate your area and don’t listen to property investment experts who organise seminars on make your fortune in 6 moves etc!

Let us know how you get on and good luck!

Jools

I am a professional Dancer. It’s a fun job but it is a bit hit and miss financially which is why I would like to become a property investor.

Wow! you have two properties with one thats mortgage free! Thats quite an achievement congrats!

Do you have any advice or tips you could let me in on to help me.

Cheers.

I’m not too much older than you and I’ve got two BTL properties, one mortgage free.

I could probably have more, but I don’t really take many risks.

What are you self employed as?

Firstly this is my first post on this site and I must say I’ve been reading all the discussions and blogs posted on here and they are top notch! So helpful!

a little bit about me… I am currently in the process of buying my first property, I have to say so far things are going smoothly but I have had to resort to teaming up with my folks to use and abuse the gross income. I am 20 years old and really want to get in to property investing as a long term project, I have a few questions and was wondering if there was anyone out there who may have some answers or advice.

So, first of all I am self employed and have found when researching that its bloody hard to get a mortgage alone, plus on paper my income doesn’t look like much. Does anyone know a way around this income bollocks that banks base their lending on?

Also if there is a property investor out there who is self employed and is ploughing forward please let me know your story.

Once again great site!

Cheers

Steve V

Landlord – can you diary a date and remind us all mid year, see how we and you are getting on and give us a kick up the arse?

how is the banking industry in Germany?

Are interest rates good and more importantly are they lending?

Mit freundliche grussen!

Jools