“I purchased my first property with them in 2000. I bought two in that year and then I bought another one in 2003 and another one in 2005.
The first one I bought at $180,000 and it’s probably worth $380,000 now so I’m pretty happy with the performance of it.
I now have four properties that probably owe me about half a million dollars I guess. I couldn’t have saved that – so $1000 down is not much to outlay for each property and 10 years later I’ve got a big asset behind me.
They made the whole exercise a lot easier. I’m busy. I have things that I have to do. I don’t want to be worried about investment properties, looking after them and all that. Legal & General do the whole lot. I just signed the papers and said, ‘you guys go do it’. And they did.
It took me a while to get into investing because I had been to a number of seminars which were very slick with everyone telling me how easy it was and how low cost it was. I’m as cynical as the next person, and I didn’t believe it. This wasn’t like that. It wasn’t a high pressure approach at all.
If people have their own home and they’ve been paying it off and they have a certain amount of equity in it, then it’s not all that hard to work out a deal where they could get an investment property as well.
Legal & General did the whole lot. They did the whole tax deduction schedules, they organised the builder. I don’t want to get involved in it so it was perfect. For me it was passive.
My recommendation would be to get off your bum and go and talk to Legal & General. You will not get wealthy by just what you earn. You have to do investments. Be it shares or property, you have to do something or you’re not going to get wealthy. Legal & General made it very easy for me to get into the game.”
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