Extraordinary Property Investing
How an ordinary Bank Teller acquired 151 properties in less than 10 years
This book is not for beginner property investors. As Heffernan explains in the first couple of chapters she was trained in America by property investor John Burley.
She uses a complex cash flow strategy called vendor finance. The basic principle is you find someone who has the money to pay a mortgage but no deposit. You take out a mortgage on the property and then rent it out to the client at a much higher rate. You agree on a price and time in the future when the client will take over the loan. This is not a common strategy and requires you to have special contracts draw up by a solicitor, as well as find a bank that will accept the terms. You want to know what you’re getting yourself into. Certainly not for the faint hearted.
For beginners there is no harm in learning about advanced strategies and she has a good section on debt elimination strategies. I also found value in the final chapters on investment mindset.