Knowledge Base

How to Buy A Home Or Investment-Experienced Investors

The basics are covered in the document called "How To Buy A Home Or Investment-First Time Buyer" so here we will focus on why an experienced investor would choose our products. Currently we only deal with two developers, we used to deal with about twenty but in the current times we have had to be very strict with the criteria we look at to ensure your investment is safe. When we done a close scrutiny of what we wanted only two developers so far are providing that product.

Here are some of the main features of the developers we deal with.

• No loans on land so interest payments will not cripple them and the banks are not in control of the developments
• Property up to 50% below market value so you get substantial instant equity. There is also scheduled price increases so you get to see your investment grow.
• All resorts are five-star with rental guarantees in place with established hotel chains. This is very important as new operators do not get the same kind of occupancy as established hoteliers. It is also important as this end of the market suffers far less in a recession.
• Location wise we have two really top class resorts in Europe, one in Greek islands and one in France but six in the Caribbean where you can access the American and Canadian markets. The Caribbean attracts huge wealth and this has a knock on effect on you with both re-sales and room rates.
• In some cases you get interest on the deposits you pay taking the sting out of taking money off deposit.
• Developments selling fast. This is important as the main two things that can make a developer run into difficulties is rising interest payments and dwindling sales-we have both covered here. Also the last thing you want is to have a great house or apartment in an unfinished development.
• You have one month’s use per annum of any unit bought which is usually more than adequate for people’s own requirements.
• Finance on completion is guaranteed by the developer so you do not have the fear of what if I cannot get a mortgage.
• Currently all our products can be bought via a UK pension known as a SIPP but not an Irish pension but we are working on that. Please leave your details if this is something you would like to be updated on.

Purchase Procedure

• Choose the unit you like and fill in a reservation form along with a £1k deposit.
• Contracts will be issued in due course and we can review or you can have a lawyer review. Sometimes at this stage people decide to upgrade their unit or change what rental option they chose, that’s no problem.
• Get the signed contracts back with the balance of the 30% deposit. We use currency brokers to buy sterling at the best rates if your funds are not already in sterling.
• Sit back and watch your investment grow. We will update you regularly and suggest you avail of our free yearly review by phone or email or indeed in person.

Our long term goal for all clients is financial freedom. This means that you don’t have to work to pay the bills and that you have enough passive income coming in every month to leave you fully free to do what you enjoy with your time. We use property as a vehicle to achieve that and can do a full plan for you to achieve this financial freedom.

All existing investors will know that one wrong move can limit very much what you can do later. Common problems include:

• Buying into the wrong country/development where the growth is not happening or tax regime or bank regime is unhelpful.
• Dealing with unreliable developer
• Not being able to rent the property
• Finance for foreigners not being readily available and equity release not being possible

I meet many people who wish they had known all these details before they purchased but help is at hand.
Contact us for our free investment guide which has a section on “How To Ditch The Toxic Investments”

You may be asking yourself would you invest again if you have already invested in something that didn’t work out. Ask yourself the following:

• What was the mistake made? Wrong location? Did not know enough about the developer? Did not know enough about the market there? Had no idea how much work there was to doing rentals. Maybe none of the above and it would have been a good investment if the recession had not happened.
• With the experience I now have would I make the same mistake?
• Do the properties described above tick all the boxes that are needed to make a good investment?
• Do I know any other way of making money without a hands on involvement?
• Do I know people who have made money through property.

You will know yourself after reading the above what is right for you. Remember if you want a safe but not enormous return some of our properties offer a guaranteed buyback a few years after completion.

How To Buy A Home or Investment—First Time Buyer

Here at Make Me Rich we focus on off plan investment property which means that we are more about money making than buying a holiday home for your own use. However all the properties we sell allow one month’s use per annum along with the guaranteed rents so you can have some enjoyment out of the investment as well as much better profits than if you choose a place especially for your own needs.

There are several steps to buying a property which are as follows:

• You decide you are interested in a property abroad and you look at where you could find the money to pay a deposit. You may have some savings or you may have equity in your own home or an existing investment. Do not fret if you are confused about the best way to use your funds, we can help you with all that. Just jot down why you want to buy a property abroad and what you hope to achieve from it.
• Make a list of ways you could raise funds and the cost of each. We can help with this and in fact many of our properties have options for fractional ownership so the amount of money you need is often less than you think. Currently you would need about £10k to get on the property ladder in a fractional ownership scheme. This is not a timeshare, it’s a proper freehold investment grouped with other people. Raising funds is not as difficult as people think-for example supposing you had no savings but have some spare money per month and want to get started. You could borrow £10k for a cost of about £200pm and you would get 5% of the £10k back from the developer in interest and you could pay the difference yourself.
• Give us a call or an email to arrange an appointment to chat. You are getting free of charge the expert opinion of an experienced accountant and investor. After hour’s calls or web chat no problem and the service is completely free but you do need to have an idea of your budget so we can discuss what is relevant.
• After finding what is right for you and we can help if you are doing an equity release you will fill in a reservation form and pay a £1k deposit to reserve your unit. The exact routine after this part varies a little depending what development you are in but normally we have circa 6 weeks to receive contracts, raise any queries and sign and get them back along with 30% deposit. You can use an independent solicitor and mortgage broker or we can recommend someone. Whichever you are most comfortable with.
• Relax and watch your investment grow. You will get regular updates on your investment and also on anything else we feel you may be interested in.
• You can book a yearly financial review free of charge if you buy through us and this helps you feel like you are on track. Most of our investors use this chance to see can they buy something else and how they can maximise the return they make.

Our long term goal for all clients is financial freedom. This means that you don’t have to work to pay the bills, that you have enough passive income coming in every month to leave you fully free to do what you enjoy with your time. We use property as a vehicle to achieve that and can do a full plan for you to achieve this financial freedom.