Video by samuelleeds

How can I buy 10 houses for only 50,000? You actually don't want to do that. What you want to do is you want to buy a rundown house for 100,000. Why? Well, to buy this 100,000 pound house, you're going to pay no stamp duty tax because you're going to live in it and it's your first house.

You're going to pay about 2K in legal fees. You're going to pay a 10% deposit, which is 10,000 for 100,000 house. And then what do you think we do with the rest? Big thousand, nice. Exactly. And that might cost us the rest of the money that we got. So in total, we've spent around just under 50,000.

But once we've finished the refurb, we can then invite the bank manager around. And he'll come and he'll give it a new value. How much do you think the bank manager thinks our house is worth now? 200,000. All right. So then what do we need to do? You finance the property. Exactly. I get a 75% mortgage.

Do you know what that means? No. I can pull all my money back out, keep the house, and then guess what I'm going to do? Do it again. Exactly. But wait, don't you have to pay tax on that money? Nope, because you don't pay tax on debt. School never told me that. Well, if people want to learn how to buy properties like this, what do you think they should do?

Follow this page.