I have £1,000,000 cash - any suggestions?

doughnutmachine

pierreseo wrote: »

I appreciate your skepticism and obliviously I wrote the title of this thread so it would get many responses and I expected some insecure replies ("that can't be possible no one is that successful" (unconscious: I'm not happy with myself) blar). But, please be open minded and don't try and make yourself feel better by trying to but others down - you'll feel much better about yourself if you inspire and lift others UP. But each to their own.

Let me elaborate here.

I am 30 years old and I currently run an internet marketing business. I have set it up so everything is automated and/or outsourced. Therefore I am now in a position, where I earn enough money to pay all my bills and live a lifestyle I am comfortable with by working around 1 hour per week, (I am 'time rich' whereas my investor friend is not). Most of my clients are contracted in so I have this guaranteed income for around 6 - 12 months.

On top of that I live is SE London and the property I bought only 18 months has risen around 30% and so I have some equity to release and play with. Therefore I thought it would be a perfect opportunity to get into the property game as this was always my intention.

For a few years this property investor, my friend, has been my kind of mentor. So I thought I would go and see him and ask if I could learn from him, for free and without pay so I too in 8 years (he is 8 years my senior) could also be in his position.

So his challenge to me is to find him BMV deals which he can then buy for cash. His old model was to advertise in papers, by BMV deals from motivated sellers (2 thirds of these were rent backs), in 6 months time remortgage and release equity whilst still generating cash flow from renting the property.

He hasn't bought anything since 2008 as he has been raising his kids (home schooling) and renovating a £2m house he has bought.

My intention of this thread was to find some ideas how where to get good leads from (we offer 1% - 2% acquisitions fees plus £1000), or, how to become a successful property sourcer, as I feel the money is made when you buy not when you sell therefore this is an integral part of the game I want to master.

Therefore any advice is welcome and I hope in the future I can reciprocate.

Thanks!

lol. you got to love the internet! it's amazing how it attracts incredible successful people that only need to work 1 hour a week who are friends with other incredible successful people who don't even need to work.

why don't you start a website that people who want to sell their house quick will come across on google? i'd have thought someone with an internet marketing business would have thought of that....

jamesd

pierreseo wrote: »

So his challenge to me is to find him BMV deals which he can then buy for cash. His old model was to advertise in papers, by BMV deals from motivated sellers (2 thirds of these were rent backs), in 6 months time remortgage and release equity whilst still generating cash flow from renting the property.

What do you make of the FCA regulation of sale and rent back schemes and the mandatory reporting of transactions?

racing_blue

Managing a portfolio of 100+ rental properties must eat up at least 10 or 15 minutes of that working hour each week?

peter1000

how the other half live................

Fruit_and_Nut_Case

Bgiresun wrote: »

...here is a website that teaches day trading stocks...

More :spam:

atush

pierreseo wrote: »

I appreciate your skepticism and obliviously I wrote the title of this thread so it would get many responses and I expected some insecure replies ("that can't be possible no one is that successful" (unconscious: I'm not happy with myself) blar). But, please be open minded and don't try and make yourself feel better by trying to but others down - you'll feel much better about yourself if you inspire and lift others UP. But each to their own.

Let me elaborate here.

I am 30 years old and I currently run an internet marketing business. I have set it up so everything is automated and/or outsourced. Therefore I am now in a position, where I earn enough money to pay all my bills and live a lifestyle I am comfortable with by working around 1 hour per week, (I am 'time rich' whereas my investor friend is not). Most of my clients are contracted in so I have this guaranteed income for around 6 - 12 months.

On top of that I live is SE London and the property I bought only 18 months has risen around 30% and so I have some equity to release and play with. Therefore I thought it would be a perfect opportunity to get into the property game as this was always my intention.

For a few years this property investor, my friend, has been my kind of mentor. So I thought I would go and see him and ask if I could learn from him, for free and without pay so I too in 8 years (he is 8 years my senior) could also be in his position.

So his challenge to me is to find him BMV deals which he can then buy for cash. His old model was to advertise in papers, by BMV deals from motivated sellers (2 thirds of these were rent backs), in 6 months time remortgage and release equity whilst still generating cash flow from renting the property.

He hasn't bought anything since 2008 as he has been raising his kids (home schooling) and renovating a £2m house he has bought.

My intention of this thread was to find some ideas how where to get good leads from (we offer 1% - 2% acquisitions fees plus £1000), or, how to become a successful property sourcer, as I feel the money is made when you buy not when you sell therefore this is an integral part of the game I want to master.

Therefore any advice is welcome and I hope in the future I can reciprocate.

Thanks!

Let me elaborate. No one is being mean.

But you keep changing your story.

First you are a novice and have a 1M buddy who wants you to buy property for him (when you don't know how).

Now you have money, having set up a successful internet business, and may be going into business with this 1M buddy who owns property but still wants you (who has no experience ) to select it for him.

It doesn't make sense still (even with you as an equity partner).

So you are either a Dreamer of no substance, or your english needs polishing as we cannot understand how any 1M property owner would ask you for help to make more. Even with the fact that he used to use newspapers for his advertising and has now asked an internet person to help (who has no property advertising background?). Or are you supposed to turn your 'marketing' into advertising for undervalued property from unwitting elderly and the like?

My guess is, you might find more unwitting victims to sell their property undervalue in the print media than on the internet.

AS those who are on the internet might be able to find the true value of their property more easily?

Nelly321

OP...

I am inexperienced in the finance department - however I have a lot of common sense!

The guys and girls on this forum have been very helpful to me with my queries but even I know that if you want advice relating to millions of pounds/mass property investment you shouldn't be asking around here surely!!!

If between yourself (an established business man) and your friend (property investor and millionaire) you do not know people who can assist/advise on these matters then you need to find someone! Not some anonymous guy on the net!

Sorry, good luck with your quest!!!

Minrich

My original view of this thread still stands !

patientperson

pierreseo wrote: »

From where did this come?

Ah, my money laundering suggestion.

£1 million to spend .. looking for suggestions on an open forum.

Either the story is rubbish or just a fishing trip.

Either way .. I am out.

pierreseo

excellent replies people. thanks so much.