Property Investing - Would You Take Advice From A 70 Year Old Property Mentor

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By Wealth Coach


Wealth Creation Expert Nicola Cairncross Reveals Amazing Secrets Of Women Property (Real Estate) Investors

I went to a party last night and what an amazing group of secret property investing women there were there!

From the 70-something matriarch of Shoreham Beach, Liz, through our generation down to my lil' sis Sarah in her mid-thirties, a good time was had by all at the party. About halfway through the evening, one of the girls, Eleanor, shall we call her? was asking me how the wealth coaching was going, and lamenting the fact that she felt really poor, and that her husband was approaching 60 but didn't see how he would be able to stop working.

I tried to resist, but in the end caved in and asked her how much equity she had in her house (knowing she had lived on Shoreham Beach for years!) and what her mortgage was. She wasn't sure of the value but estimated it around $450,000 with a mortgage of around £10,000.

When I told her that she was not only already wealthy, but could be living a happy and wealthy life with her husband not having to work, she just didn't believe me. She knew she had a lot of money locked up in her house, but thought that you couldn't get a mortgage at their age (she's quite a bit younger than her husband but just over 50 I would guess).

Other women started to gather round me while I tried to change the subject, as I don't like to bang on about this stuff in a social environment, but they insisted so I asked permission of the hostess, my friend, who has heard all this a million times before, and she laughed and said ok.

I went through the whole story, of how property doubles in value every 7-10 years, but how Shoreham will be quicker because they are about to build a big marina just by the town, and how we are benefiting from the doughnut effect of London, Brighton and Worthing, and the fact that Shoreham is still an easy commute to Victoria.

I told them how you can mortgage, interest only, self certification, up to 70% of value, without proof of income, and how you can put some of that money aside to pay for that mortgage for the next X number of years, earning interest on it all the while, and by this time, they were fascinated, but still not really believing me (because I rent and don't own on the Beach, they think I have no credibility, you see). Although the Beach is very unpretentious, it's a very close knit community and they know who has what and who is seriously wealthy.

And let me tell you, when someone told me later some of the people who live here, my eyes were popping out on stalks; not famous people but seriously wealthy ones. Well, I suppose someone has to own all those yachts at our TWO yacht clubs.

When up piped Liz, the matriarch, and said "O Yes, she's quite right you know! We have always had an interest only mortgage, and we have all our cash in the bank, not the house! That's how we get to have so many holidays, how we keep getting the house done up (which puts the value up again) and I have just lent my other daughter a BIG pile of money to help her out. My problem is more about how not to pay too much tax on our interest we earn on the cash".

Everyone was stunned, not least of all me!

"But Liz, why does Eric work then when he must be approaching his late 70's?" they all asked.

"To get him out from under my feet, of course, and because he would go stark staring mad if he was bored!"

And there you had it, someone who most people would say is a fairly ordinary woman, in their 70's who knew instinctively how to do extra-ordinary things with money.

If you would like to change your mindset about property, and what is possible, and how you can use your existing equity to set you free, or if the thought of all that intrigues but scares you, why not come along on Saturday?

My mate, Greg Ballard, is going to tell us how he and his business partner Andy used just exactly the same principles to build a multi-million property portfolio in just 10 years.

http://www.TheMoneyGym.com/MGPresents - still just a couple of Early Bird discount places available.

See you there!

Nicola

p.s. You can't get into one of Greg & Andy's own Open Days for months now so this is a great opportunity to learn from a master!


Paula's Story

Great Property Books On Amazon

Property Property
Price: $129.35
List Price: $160.00
Property Law: Rules, Policies, and Practices Property Law: Rules, Policies, and Practices
Price: $97.58
List Price: $118.00
Property Examples & Explanations, 3e Property Examples & Explanations, 3e
Price: $32.88
List Price: $44.95
Gilbert Law Summaries on Property, 17th Gilbert Law Summaries on Property, 17th
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Claire's Story

Visit The Money Gym Blog

  • We're On The Move Again!

    After Three Happy Years With Typepad This Blog Has Moved - For More Up To Date Entries From February 2008 CLICK HERE TO VISIT THE NEW BLOG http://www.TheMoneyGym.com/blog See you there! - 2 years ago

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Great Books On Amazon

Property Property
Price: $129.35
List Price: $160.00
Property Law: Rules, Policies, and Practices Property Law: Rules, Policies, and Practices
Price: $97.58
List Price: $118.00
Property Examples & Explanations, 3e Property Examples & Explanations, 3e
Price: $32.88
List Price: $44.95
Gilbert Law Summaries on Property, 17th Gilbert Law Summaries on Property, 17th
Price: $23.99
List Price: $30.95
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