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hi youtube welcome back to the channel in today's video i'm going to go through why property pays you twice if it's your first time at the channel thanks for watching don't forget to click that like button and subscribe now what job or investment pays you twice now in the uk we are an island we have a real growing population so the building market cannot keep up keep watching to the end of this video because i'm going to show you an example that i've done myself which has allowed me to get paid twice by property so historically people buy a property as a first time buyer they live in it do it up renovate it and then sell or upsize to a bigger property and once you get to a certain age you may feel that your family have grown up they've moved out to their own properties and then you have a lot of equity within your home so you want to downsize so the cycle continues now over time and historically property has always gone up so the scenario of how property pays you twice number one you put a lump sum of cash down and then you own the property now if this is your residential home then you will pay the mortgage monthly generally do some cosmetic work which is going to make you money tax-free you can then leverage that money and take that money that you spent back out but how does it pay you twice so if you put a lump sum of money into a property as an investment that money then sits in that property it's like a bank account but surrounded by bricks then that investment property you'll get a tenant to move into which will generally pay you a higher amount per month to live in that property than what you're paying as a mortgage on it instantly you are getting a return so that is why property investing is so popular because you can have money sitting in a bank doing nothing or you can invest the money in a property which is going to give you a return you're near enough instantly going to be making money as soon as you put a lick of paint on the wall and two you're getting a regular income from that tenant which is going to be paying you money per month increasing your cash flow now i purchased a two-bedroom flat in essex in 2008 just before the house crash the property was a new build and it was purchased for 180 000 pounds now as it was a new build couldn't really do too much to it so we had to sit on the property and wait for the market to recover lived in the property around two to three years and then decided to move back in with parents to save up some money to buy another property so what i did is i rented out the property rent that received was higher than the mortgage so the tenant started to pay off the mortgage so already that property was making me money within a couple of years i'd saved up enough money through working jointly with my partner and we bought an old property also in essex that needed a lot of work now we lived there for around six years we bought the property for 290 000 but we decided that we wanted that final big push in the final big project and that was the house renovation project which i actually have videos on my channel so just over 10 years after i'd originally bought my first flat which i still owned mortgage had been reduced quite considerably because we had had tenants in for the majority of that time it hadn't cost me any money because the tenants have been paying the mortgage and the property value had gone up so we sold that flat in 2019 for 225 000. we also sold our house for 490 000. that's a decent amount of profit on two properties number one it was a roof over our head and number two the properties have worked hard over time for us and made money we used all of that money to purchase our new home and fully renovate it so this example just shows you that planning and moving with time and precision on buying properties the right properties at the right time property can pay you twice the investment that we've put in our new property has already made us in 18 months of the build around 160 000 pounds wow and it's from using the same pot of cash don't forget to check out some more videos on the channel and again thanks for watching send us a like don't forget to click subscribe and see you in the next video