Linda – known as LindaFinance on TikTok – has shared her top tips on how she went from a single family home at age 21 to £12million in assets at the age of just 27
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A woman who has £12million assets just six years after launching a property business aged 21 has shared how she became rich.
Linda – also known as LindaFinanceTikTok is a platform that advises cash-hungry Britons looking for passive income. It allows them to purchase dilapidated properties and renovate them before selling them to get the highest cash return.
Linda started with less than $500k and managed to manage a job while she learned how to invest.
Six years later, she had more than $17 million and was able quit all other sources of income to allow her to concentrate on property full-time.
She wrote this post to celebrate her success: “When you realise you started with a single family home at 21 years old and now you’re 27 with $17+ million in assets.”
Linda is now “over 180 units”In her asset portfolio, she rents.
Linda pointed out that the biggest mistake in the industry is not taking time to study the trades of investing. It can be difficult to understand markets if you have a wide portfolio and not just one. She stated: “Educate yourself first before investing in anything else.
“Don’t invest in anything you don’t know or fully understand. “Invest in real estate for cash flow, appreciation and tax right offs. “Always be willing to invest your money into systems, tools and people that work for you.
In the early days of her venture, she bought a drop-shipping business and took up one-on-one mentoring sessions to develop the skill of investing. Despite this, she “made a lot of mistakes along the way.”
Linda offers four reasons to invest in property for those who are sceptical.
If the numbers are right, property can be leveraged to purchase investment properties. “This allows you to minimise you having to use your own personal funds for the deal”.
Tax advantages are available to you as well. She writes that the Government offers tax benefits for property depreciation and insurance.
Third, passive income via property can provide a steady income with minimal effort once everything is in place.
Linda also says that everyone needs a place where they can live, so renting your unit should not be a problem.
She continued: “It’s one of the safest investments with high returns. “Real estate usually appreciates in value over time allowing you to build equity.”
Finally, she encouraged people to keep their eyes on their goals and not compare them to others. “Everyone’s progress and journey is different,” she said.
In 2015, Collins was sentenced to the maximum 40 years in prison. He allegedly showed no remorse for his actions.