Hi my little budding brokers. For some time I have discovered a passion for the start-up journal of Echoes, and so I became right-wing. However, like all people on the right, I talk a lot about how to pay less taxes and how to take out mortgages (two favorite subjects of people on the right, as well as an unequaled love for Christian Clavier and Laurent Gerra).
1. Calculate your debt ratio
This is the first thing to do when you want to buy. Basically the banks are willing to lend tunes for you to become a landlord but they first calculate your debt ratio. We assume that you cannot borrow more than 35% of your income. This is quite logical since we want you to be able to repay your loan.
2. Borrow money from friends or family
On the surface, it looks like a very bad idea, a source of conflict and friendship breakdown. So already, do you really care about these friends? Are they worth stealing? If not, it is still possible to borrow money from them in the rules of the art. For this, you must make a written declaration and a monthly repayment (if you do not commit to regular repayment dates, the loan is perceived as a hidden donation and the tax authorities do not like that).
The advantage of this option is that your lender (if he is not too much of a jackal) can give you a loan at zero interest. Way cooler than the banks that tax you like pigs. On the other hand, even a zero-interest loan will have an impact on your aforementioned debt ratio.
3. Start small
When you buy, you don’t have to live in that place until the last penny is refunded. You can resell before, when you have more money to buy something that suits you better. Yes, it sounds very stupid, but it’s the kind of thing that we poor people aren’t taught. In short, it is better to start with a little thing that you are sure of being able to repay the loan. So calm your ouaj with this castle on the banks of the Loire and start with a parking space in Cholet.
4. Take a small bank
I’m sorry to tell you, but banks don’t really like people with no money (not even afraid to throw a stone in the water by saying that). And at this little game, the big banks are the worst. The little ones will be a little more inclined to study your file and give you a (very small) chance to do something with your money.
5. Sell dreams to your banker
Yeah I know it sounds weird but it’s part of the delirium. To convince your banker to give you some trouble, you first have to establish a relationship of trust (the guy sees your accounts, he knows your life down to the smallest detail, there’s no need to hide from him that you’ve been exposed every month since the age of eight, he knows). Then, you have to sell the dream. So ok in your head, buying this maid’s room to organize organ trafficking there, it’s very cool, but it doesn’t sell dreams. Talk about your desires, your future, why this place rather than another. In short, learn to practice the art of mytho.
6. Apply to multiple banks
It is strongly recommended because they do not all practice the same interest rates, some require a contribution, others do not. It’s not just the bank that chooses you, it goes both ways and you absolutely mustn’t hide it. Do not forget that your loan will generate interest for the bank so the big moula. Or just the moula.
7. Make a family SCI
Yes, the term is scary, but don’t panic. Basically, an SCI is a Société Civile Immobilière, and you can do that as a family, which means that you and your brother, your sister or, who knows, your mother, set up a small company together to buy a property immovable. I won’t go into details, but overall it’s quite advantageous, especially in terms of inheritance.
8. Avoid having only that as a topic of conversation
Rich or poor, people who acquire property tend to talk about it too much. Please don’t fall into this trap: be humble, and just wait for someone to ask you questions on the subject to brag about it shamelessly (but for a time not exceeding 5 minutes, otherwise you’ll scare your interlocutor). It’s not that complicated.
9. Having rich parents
Yes we talked about the galleys if you didn’t have money but if your parents have money we already settle a large part of the equation. The simplest thing is therefore to be born into a family of rather wealthy people and not to smoke too many firecrackers as a teenager in order to inherit your parents’ mansion when they deign to live full time in Le Touquet.
10. Getting Started
In the end, the hardest thing is to move the derche, because we tend to spend years telling ourselves that “noooo it’s impossible I will never be able to buy I have no money”. But in fact, yes, it is possible. A bit of a hassle when you don’t have too much money, but still possible. I feel the hope reborn in your eyes, huh?