Hi Samuel I tried to do this and it worked! 👌However, using a bank loan in particular a personal loan, the bridging company did care since they wanted to make sure I was able to use it for business purposes.
Nice content! The best way to find that balance between saving and living is by investing, this way you get to have your savings intact and then live comfortably of the revenue coming in from your investments.
Working with Romero pieto is the best thing that can happen to a beginner trader who is aspiring to be fruitful out of the market he is trustworthy and straightforward we surely need more men like him in trading world.
Mr Romero pieto trades on my behalf due to my tight schedules and he is indeed absolutely doing great, my last investment of $3,000 he gave me my ROI of $17,000 in a period of two weeks isn't that amazing.
Maybe just to clarify for the public. When you get the second loan to refinance the first loan, doesn’t mean you live mortgage free! You still have the second BTL loan to pay, right!
Great content, bridging is high leverage and the fees on paying off products aswell as high interest rates amount to a big slice. Last resort, be good for initially buying a non normal construction building then putting a single course of brick round and remortgaging.
Iv just complete on one Friday and was originally going to use this exact method with Precise mortgages. Interest, fees etc end up costing just shy of 10% on the borrowed bridge money. They also down valued the estimated finished house around 10% even tho next door sold for the same figure in a worse condition. So although it initially looked good from my advisor I ended up proceeding last minute in cash to save the heavy fees and down valued end product. But as said in your video, if I didn’t have the available cash I would have bit the bullet and proceeded using this method even tho it had its negatives
very good point and like so many concepts, its great in principle until life gets in the way. Bottom line is.... did you come out better than if you had gone down a more conventional route of purchasing a house?
The house is complete now, but ended up overspending £10k as I over looked the roof condition and a couple of damp issues, the remortgage would of came in slightly negative what they quoted compared to what iv spent. But.. on the other hand I will have owned the property 6 months next month so I’m due to put a mortgage on it to pull my funds back out. And as you know the mortgage rates now are currently horrendous so I’m going to wait to see if the market settles. In this situation I may have been better biting the bullet and going down the bridge to loan route as i would of had my money back out a couple of months ago now (albeit less money) but i would of been able to approach some motivated sellers in the market right now. Cash and remortgage is definitely the better option if you can afford it, but as the market has took a turn for the worse then this time the bridge to loan would of been a better option for me on this occasion.
Hi, very interesting video 📹 I've been renting properties out for over 27 years. Great business to be in. I've had well over £325,000 in rents over the years. Plus the value these days is amazing 👏
Great!! I just watched your video on BRRR published 2 years ago. Was thinking the mortgage lending culture has changed in 2022 slightly not sure what other method can be used? After watching this video my doubts are cleared. Thank you!
Samuel, Can a bridge be done with £10k in hand or a 100% bridge instead of the 75% in your example. Thank you for all your knowledge and wisdom. God bless
It's an expensive way of doing it, interest rates and fees are higher than a normal mortgage and you will pay fees on both products. Like everything else in investing it will work IF you do it properly AND values keep rising , the second you see prices go down or stagnate these risky strategies lose money fast.
does this work if you have zero savings but have lots of equity in your own home? just thinking if this would be way of buying second home and actually getting first btl ?
Good video mate . From the start off the application off the bridging loan to the refinance stage. How long does it take ? So how long does the deal take from start to finish ? A year , couple off months . Thanks 🙏
All ok in a rising market. Now prices are stagnating and falling - loading yourself with debt and costs when your end product will be worth less than you think could put you in serious trouble.
Hi Samuel From what I understand, on the bridge to let, you may also need 15-20k for the refurb to as the the lender pays the refurb costs in arrears. Isn't that correct?
The mortgage works like any other. The bank buys the house with the £200k and you pay it back to them monthly. Therefore the bank pays off your bridge loan and you pay the mortgage back as normal monthly.
Samuel what the name of the site you on so I can buy deals off your students they package them and the buyer just pays the fee looking 4 freehold houses in westmidlands cheers
This is a brilliant way to flip money around, the only downside to it is that most lenders are only making this products available to existing landlords.
I dont understand how it's free as surely theres interest to pay on the first 2 loans? The refinancing loan will also have interest will it not? I understand renting the property will likely pay off the interest and some of the loan but isnt that money meant to be profit?
Using the figures presented in the clip, with mortgage rates now at 4.4% and more on BUY-TO LETS, once your project is completed and you do your re-finance, your new mortgage will be a minimum of 840 quid per month[ 25 year ]. Your rent will be approx 1000 quid a month, once you take out TAX, letting fees etc you will be running at anywhere form 200-400 quid a month loss on each property or am I missing something? Thanks for anyones time in advance on this matter.
Would a lender offering this product consider first time investors or would they be looking to see a track record beforehand? Might be a basic question, just not overly educated on bridging loans. Thanks for the vid Sam!
Something missing from the video is that the bridge company will also charge interest upfront - or as a rate this is not an interest free loan. Meaning those figures will change slightly but yes a cash offer is always best!
hi samuel sick of my 9.5 and my wife having to work hard got money to invest love your posts when is the next course please I'm no youngster 58 but your course could be our answer please let me know kind regards Mark
Can you look at USA and tell me what people can do here. You could destroy both major markets. We have wholesaling properties here but can you help me find a loophole like UKs. Would be a crazy episode. 🙏 please and thanks
Wish I had 30k, I just don't understand how you can take all this debt out and then let the house out at the end and somehow still make some sort of profit, I'm confused
@@markfenby3208 A large number of the fees are actually taken out at the beginning of the loan. If you get a bridging loan for 75k, and have 5k in fees, they will give you 70k. Or they can take the fees once the house has been sold, and you pay them from the profit. There are even loans where you they simply tally up the amount of months it takes for you to sell, work out the interest, and charge you at the end, meaning no monthly repayments. Some lenders are extremely flexible in this regard.
It is a free house, as you don’t use any of your own money in the process. The all charges, fees and profits, should be factored in to be covered by the new valuation. It’s genius!
I don't understand how this is a free house? Surely the new mortgage of £150k pays off the bridge of £70k purchase plus £50k refurb ( plus interest etc.) and presumabably refunds the original £30k deposit ( freeing that up for another use) and you now have a £150k mortgage with £50k equity in the now refurb-ed property. ?? Not quite free but pretty amazing!
if your borrowing 150k not 100k then surly you will need more then 30k to put down given that most bridging loans will only lend you 60/70% of the amount you need? plus what about the interest on that loan, bridging loans normally have really high interest rates so you would need to factor that in aswell. great video tho, appreciate the content!
Yeah bridging loans have been around for a long time , the interest rates and fees are high and generally a last resort when moving between homes if one hasn't quite sold before the one you need to buy. Sounds very expensive and risky way to fo it.
It's called the double bridge. 70 percent first charge and remaining 30 percent of cash sale plus development is assignes second charge. Full funding by two loans.
I've been viewing a few properties and making some bids but the estate agent saying they want proof that got the money and tell them getting as a bridging loan and they don't give money till seen proof of bid been accepted how do get round this
Ok let me recap this, you got 30k you borrow 70k to buy a house for 100k then borrow another 50k to refurnish the house and now it’s 200k then you take a 75% of the new house value loan that is 150k and you pay the 120k debt back and with the extra 30k you just do the same process again did I miss anything?
the bbc exposed this guy so bad! I remember him saying by the age of 19 he had 6 properties and it turned out it was all lies and he was actually a magician all the way up to 25 years old. This explains his great stage presence and gift of the gab
Sammy i rock with you brother, but did you just say you can’t use the £240,000 borrowed from a friend as a deposit because they’re gonna say it’s not your own saving. That’s sounds crazy to me.I’d borrow it from a friend and say it was a gift. Anyone can gift anyone any amount of money they like no problem what’s so ever as far as I’m aware
@@talkingballs and when they see that nobody has laundered any money then they can’t say a word Just know anyone can gift anyone as much money as they please after they have paid the taxes on it.
In principle it works but in reality it won’t because You won’t find these deals in today’s hot market !!! You will NOT find a run down house for 100k that when done up is worth 200k. The free house bit is very very unlikely to happen. More smoke and mirrors in order to dupe you on to one of scamuals expensive courses. Scamual makes huge amounts of money from his courses !!! Not from property 🙄 you’ve been warned.
Bitcoin is the future investing in it now is the wisest thing to do now especially with the current rise, Despite all the economic crisis this is the right time to start up an investment
Hi Samuel I tried to do this and it worked! 👌However, using a bank loan in particular a personal loan, the bridging company did care since they wanted to make sure I was able to use it for business purposes.
Nice content! The best way to find that balance between saving and living is by investing, this way you get to have your savings intact and then live comfortably of the revenue coming in from your investments.
Working with Romero pieto is the best thing that can happen to a beginner trader who is aspiring to be fruitful out of the market he is trustworthy and straightforward we surely need more men like him in trading world.
Good good content.
Yes I'm a living testimony of Romero pieto his platform has also done a great thing for me.
I've seen so many review about this man called Romero pieto who is he ?
Mr Romero pieto trades on my behalf due to my tight schedules and he is indeed absolutely doing great, my last investment of $3,000 he gave me my ROI of $17,000 in a period of two weeks isn't that amazing.
Maybe just to clarify for the public. When you get the second loan to refinance the first loan, doesn’t mean you live mortgage free! You still have the second BTL loan to pay, right!
I love this guy
Samuel this is gold. Definitely changes everything, thank you man! Is more of this available in your advance courses?
Great content, bridging is high leverage and the fees on paying off products aswell as high interest rates amount to a big slice. Last resort, be good for initially buying a non normal construction building then putting a single course of brick round and remortgaging.
Hi , nice to meet you , really enjoy your video
📝 another gem of knowledge to add to the repertoire.. thank you for sharing! 🤗… loved the pen and paper visual
Iv just complete on one Friday and was originally going to use this exact method with Precise mortgages. Interest, fees etc end up costing just shy of 10% on the borrowed bridge money. They also down valued the estimated finished house around 10% even tho next door sold for the same figure in a worse condition. So although it initially looked good from my advisor I ended up proceeding last minute in cash to save the heavy fees and down valued end product.
But as said in your video, if I didn’t have the available cash I would have bit the bullet and proceeded using this method even tho it had its negatives
very good point and like so many concepts, its great in principle until life gets in the way. Bottom line is.... did you come out better than if you had gone down a more conventional route of purchasing a house?
The house is complete now, but ended up overspending £10k as I over looked the roof condition and a couple of damp issues, the remortgage would of came in slightly negative what they quoted compared to what iv spent.
But.. on the other hand I will have owned the property 6 months next month so I’m due to put a mortgage on it to pull my funds back out. And as you know the mortgage rates now are currently horrendous so I’m going to wait to see if the market settles.
In this situation I may have been better biting the bullet and going down the bridge to loan route as i would of had my money back out a couple of months ago now (albeit less money) but i would of been able to approach some motivated sellers in the market right now.
Cash and remortgage is definitely the better option if you can afford it, but as the market has took a turn for the worse then this time the bridge to loan would of been a better option for me on this occasion.
@@barrychui1704 Well done for taking the action on this, must have caused some sleepless nights. Best of good fortune with your next venture!
That's why I was thinking , to go for company , who only gives you bridge and refurb finance
This was very helpful I’m on it now 😅😊
Sunday night ..free education... Who else is learning this evening too? Excellent as always Samuel 👍👍❤️
Always learning :)
you are so sick, genuinely so useful!
Thank you for the links.
One word Samuel genius 🙏🏼
Hey I can't seem to see the lenders offering this product in the description can you please check it is there?
I got my bridge loan done with sterling capital group
@@jsl1864 was a pleasure working with you
@@sterlingcapitalgroupltd5996 do you do bridge to let or just standard bridging?
@@seancrowe3353 we do both, as well as residential mortgages, if you have other assets with equity we can also do 100% Bridging.
Sterling capital helped me with my mortgage last year during the pandemic, they also completed a bridge with my uncle who's into development
This strategy worked for me especially buying at auctions sterling capital group does my bridge loans
It was a pleasure working with you, thank you for the mention
Wow. Impressive
Mind blowing stuff.
Brilliant vid want to get into this info please
Thanks
Welcome
Hi, very interesting video 📹 I've been renting properties out for over 27 years. Great business to be in. I've had well over £325,000 in rents over the years. Plus the value these days is amazing 👏
But interest is too high any tips
Doing this at the moment. It’s frickin expensive!!!!!
Very helpful, didnt know there was a Bridge-to-Let
This is great!!
Appreciate all you do Samuel. Sitting on all cash right now but with your help I will become financially freeeee!
Great!! I just watched your video on BRRR published 2 years ago. Was thinking the mortgage lending culture has changed in 2022 slightly not sure what other method can be used? After watching this video my doubts are cleared. Thank you!
Thanks Samuel. Can you share the list of lender offering this product?
Samuel, Can a bridge be done with £10k in hand or a 100% bridge instead of the 75% in your example. Thank you for all your knowledge and wisdom. God bless
Amazing video enjoyed watching it.
Thanks for feedback
Hi Samuel Great content! Please just wanted to ask will a Bridge to loan help borrow to do Serviced accommodation project?
Funny, I was wondering if you could do this!
Don’t know if I’m being stupid but can’t see the companies that offer this product in the description?? Great video, thank you 👍
I have noticed the same and commented too
They all do it..just ask them
Hi Samuel , is it possible to get a 100% of the deal for people who are struggling to get money upfront
Excellent
I nterested
It's an expensive way of doing it, interest rates and fees are higher than a normal mortgage and you will pay fees on both products.
Like everything else in investing it will work IF you do it properly AND values keep rising , the second you see prices go down or stagnate these risky strategies lose money fast.
Where exactly are these lenders please?
Hi Samuel! Loving the content! Just out of curiosity, where did the 60 x 4 come from, so I got the logic behind it
60k is what the deposit and stamp duty is .
X 4 is to make the 2k a month profit
Hi Samual, great video… please can you share the lenders that offer this product?
Thanks!😀
does this work if you have zero savings but have lots of equity in your own home? just thinking if this would be way of buying second home and actually getting first btl ?
Does anyone know if a bridging loan has to be in a personal name or a limited company😁?
I didn't know you didn't pay stamp duty on fixer uppers!
Where is the list in the description?
Yeah same question I have?!
There is no list. This is clearly bullshit. Dont click on any link for his FREE course or whatever way hes trying to get your money.
Good video mate . From the start off the application off the bridging loan to the refinance stage. How long does it take ? So how long does the deal take from start to finish ? A year , couple off months . Thanks 🙏
All ok in a rising market. Now prices are stagnating and falling - loading yourself with debt and costs when your end product will be worth less than you think could put you in serious trouble.
Sound, lets do it!
Hi Samuel
From what I understand, on the bridge to let, you may also need 15-20k for the refurb to as the the lender pays the refurb costs in arrears. Isn't that correct?
When you get a Mortgage to pay off a bridge loan how would that work as the mortgage is paid monthly ??
The mortgage works like any other.
The bank buys the house with the £200k and you pay it back to them monthly. Therefore the bank pays off your bridge loan and you pay the mortgage back as normal monthly.
Thank you Top Man!
Thanks Samuel!
You’re so welcome
How to get the lender who gives you bridge , return and refinance ?
Samuel what the name of the site you on so I can buy deals off your students they package them and the buyer just pays the fee looking 4 freehold houses in westmidlands cheers
Check out our Facebook group “property investors with samuel leeds”
I cannot find the bridging loan list in the so called descriptions, can you post in this message thks a lot
Good video thanks for sharing @samuel leeds, it looks like you forgot to share the list of lenders offering such bridges to let products. Thanks 🙏
He didn't forget lol
Nice. But wouldn't you still have to get a 50k loan to pay for the mortgage?
Why not just save what you can and buy what you can. Do it up, sell or rent it.
Less riskiest highest reward
This is a brilliant way to flip money around, the only downside to it is that most lenders are only making this products available to existing landlords.
What are the average interest rates on bridge loans?
Is this product applicable in Republic of Ireland as well?
Where have you been all my life?!
I dont understand how it's free as surely theres interest to pay on the first 2 loans? The refinancing loan will also have interest will it not? I understand renting the property will likely pay off the interest and some of the loan but isnt that money meant to be profit?
samuel what lenders do you recommend then?
Using the figures presented in the clip, with mortgage rates now at 4.4% and more on BUY-TO LETS, once your project is completed and you do your re-finance, your new mortgage will be a minimum of 840 quid per month[ 25 year ]. Your rent will be approx 1000 quid a month, once you take out TAX, letting fees etc you will be running at anywhere form 200-400 quid a month loss on each property or am I missing something?
Thanks for anyones time in advance on this matter.
PS Is stamp duty due if its your second property [ie 3%] ?
Does the bridge loan only work on houses in non livable conditions
How can I get in touch with you Samuel?
Are bridging company's available in the USA??
Samuel could you please give us the list of some lenders that offer bridge to let? Thank you
What constitutes as an allowance to pay £0 Stamp Duty, you said inhabitable, can somebody explain how this works in more detail?
Would a lender offering this product consider first time investors or would they be looking to see a track record beforehand? Might be a basic question, just not overly educated on bridging loans. Thanks for the vid Sam!
Good question too ,👍👍👍👏
Every lender is different but this product works for newer investors as well as seasoned ones 👍🏻
Something missing from the video is that the bridge company will also charge interest upfront - or as a rate this is not an interest free loan. Meaning those figures will change slightly but yes a cash offer is always best!
How is it a free house if you are paying back £150,000 at 3%?
looking to borrow to build house on land my parents gifted me any ideas
hi samuel sick of my 9.5 and my wife having to work hard got money to invest love your posts when is the next course please I'm no youngster 58 but your course could be our answer please let me know kind regards Mark
Can you look at USA and tell me what people can do here. You could destroy both major markets. We have wholesaling properties here but can you help me find a loophole like UKs. Would be a crazy episode. 🙏 please and thanks
Wish I had 30k, I just don't understand how you can take all this debt out and then let the house out at the end and somehow still make some sort of profit, I'm confused
Did anyone find the link to the company offering bridging loans?!
Bridge loans must be only in the UK?
Or is it another way of saying hard money lender…
Or a short term loan
You don't end up with a free house. You didn't explain the interest on the bridge, which is expensive. Just saying buddy
I was also wondering about the interest.
@@farrellhd And arrangement fees etc
@@markfenby3208 A large number of the fees are actually taken out at the beginning of the loan. If you get a bridging loan for 75k, and have 5k in fees, they will give you 70k. Or they can take the fees once the house has been sold, and you pay them from the profit. There are even loans where you they simply tally up the amount of months it takes for you to sell, work out the interest, and charge you at the end, meaning no monthly repayments. Some lenders are extremely flexible in this regard.
Yeah he did, he said 3% interest or so
It is a free house, as you don’t use any of your own money in the process.
The all charges, fees and profits, should be factored in to be covered by the new valuation.
It’s genius!
I don't understand how this is a free house? Surely the new mortgage of £150k pays off the bridge of £70k purchase plus £50k refurb ( plus interest etc.) and presumabably refunds the original £30k deposit ( freeing that up for another use) and you now have a £150k mortgage with £50k equity in the now refurb-ed property. ?? Not quite free but pretty amazing!
if your borrowing 150k not 100k then surly you will need more then 30k to put down given that most bridging loans will only lend you 60/70% of the amount you need?
plus what about the interest on that loan, bridging loans normally have really high interest rates so you would need to factor that in aswell.
great video tho, appreciate the content!
Yeah bridging loans have been around for a long time , the interest rates and fees are high and generally a last resort when moving between homes if one hasn't quite sold before the one you need to buy.
Sounds very expensive and risky way to fo it.
It's called the double bridge. 70 percent first charge and remaining 30 percent of cash sale plus development is assignes second charge. Full funding by two loans.
come on samuel when can u help me pls pls
It’s doesn’t really explain how you take back your initial deposit out recycle it for another venture?
Re- finance
I've been viewing a few properties and making some bids but the estate agent saying they want proof that got the money and tell them getting as a bridging loan and they don't give money till seen proof of bid been accepted how do get round this
If make it make sense was a person ✅
And money is free to borrow
i got 25k eur to spend what can i do? i am foreiner from eu
joint venture?
Hi can u get me a buy to let mortgage pls
thats extremely higih ltv for bridging finance
Ok let me recap this, you got 30k you borrow 70k to buy a house for 100k then borrow another 50k to refurnish the house and now it’s 200k then you take a 75% of the new house value loan that is 150k and you pay the 120k debt back and with the extra 30k you just do the same process again did I miss anything?
How do you make £500 a month from £1000 rent? please?
Risky, bridge loan is very short and expensive 😎
How it is a free house, you still have to pay the last £150k with 3% mortgage ???
Rent it out
Samuel-Saving for 10years for a deposit is the old way.
Also Samuel-You only need £30,000 of your own money for this new method.
the bbc exposed this guy so bad! I remember him saying by the age of 19 he had 6 properties and it turned out it was all lies and he was actually a magician all the way up to 25 years old. This explains his great stage presence and gift of the gab
I did have 6 properties aged 19. I think you need to do some proper research as i rebutted everything and bbc have done many updates since.
He also gets a lot trolls lie about him. The guy is giving great content, if you don’t like it don’t watch it.
Sammy i rock with you brother, but did you just say you can’t use the £240,000 borrowed from a friend as a deposit because they’re gonna say it’s not your own saving.
That’s sounds crazy to me.I’d borrow it from a friend and say it was a gift.
Anyone can gift anyone any amount of money they like no problem what’s so ever as far as I’m aware
Anti-money laundering rules.
@@talkingballs and when they see that nobody has laundered any money then they can’t say a word
Just know anyone can gift anyone as much money as they please after they have paid the taxes on it.
In principle it works but in reality it won’t because You won’t find these deals in today’s hot market !!! You will NOT find a run down house for 100k that when done up is worth 200k. The free house bit is very very unlikely to happen. More smoke and mirrors in order to dupe you on to one of scamuals expensive courses.
Scamual makes huge amounts of money from his courses !!! Not from property 🙄 you’ve been warned.
Bitcoin is the future investing in it now is the wisest thing to do now especially with the current rise, Despite all the economic crisis this is the right time to start up an investment
A bridge to let is just a high interest buy to let that you try and reduce the interest rate on later. More misleading nonsense
A bridging loan sounds like a hot potato. Not something you want to have for very long.
help poor man get rich samuel i am your man come on