Some people aren’t good with money.

While others, money seems to flow to them. If you pay close attention, you will discover some golden rules about wealth attraction. You’ll notice there’s a difference between celebrities and entrepreneurs, from the likes of ‘lucky’ lotto millionaires.

Some people aren’t good with money. While others, money seems to flow to them. If you pay close attention, you will discover some golden rules about wealth attraction. You’ll notice there’s a difference between celebrities and entrepreneurs, from the likes of ‘lucky’ lotto millionaires.

The golden rules explain why many lotto millionaires go bankrupt within 5 years. And how brash celebrities like Mr. Schwarzenegger, money appears to flow to in abundance. So much so, he boasts a net worth of $400 million.

You see, with lotto millionaires, they don’t adjust to their new wealth bracket. They have no idea of what an asset or a liability is. They have zero wealth knowledge, and none of the skills to make more money with the money they already own.

With Mr. Schwarzenegger it’s different. You’d be forgiven if you believed he made all of his money from acting. However, Arnold earnt only $75,000 from the first Terminator. And prior to acting, he had already become a millionaire on his own accord.

In fact, Arnold arrived in America with just $27,000 to his name and two life goals. To become a movie star and to compete in bodybuilding. But auditions took up time, so did weightlifting. And his job was getting in the way of him doing both. He had to find a way out.

Yet, in a few years, he made a cool $1 million. This is all thanks to investing in real estate. He’d invest a deposit of $100k into a $500k 6-plex property, and within a year he’d sell the property for $800k.

Again, he’d buy a 12-plex, then 36-plex apartments. Up until we arrive at today, where Arnold's property portfolio sits at around $300 million. With the rental income large enough for him to never have to work a day in his life.

Arnold didn’t blow all of his money on expensive cars, but he could of. He didn’t try and buy the biggest property immediately and risk overleveraging himself. But he could of. Instead, he invested in smart assets, using other peoples money (mortgages) to buy his properties.

And Arnold's story is not unique. There are other celebrities who followed the golden rules of wealth attraction. Who is now doing better than their counterparts? Over here in the UK, we have an ex-football player, Robbie Fowler.

He claims the smartest decision he made was listening to his manager at the age of 18. His manager instructed him to get a financial adviser. The investing advice he was given allowed Robbie to call himself one of UK's richest sports players, ranking in the top 10.

Robbie began buying terrace houses in the North West. He owned so much property that Man City fans would chant “We all live in a Robbie Fowler house” to the theme of ‘The Yellow Submarine’. Later, Robbie would set his ambitions larger, buying bigger investments.

He would use the rental income collected from his terrace homes to buy apartment blocks, large family homes, and foreign property too. To this day as a retiree, Fowler is still on the lookout for his next investment, with the aim to set his family up for life.

If you pay close attention to the details above, you will have noticed a few common elements. For a start, they’re both hard-working guys. They could easily retire, yet they still work. Fowler is a sports spokesman, and Arnold became governor of California after earning his millions.

The second thing you may have noticed is they started small. They didn’t overleverage themselves. They only took on what they could manage at one time. Before trading up for larger and more properties that provide greater passive income.

But most importantly was the use of other peoples money to get what they want. By using Buy-to-Let mortgages, these savvy businessmen made the bank pay for their investment. Then a few years later, would sell the property for a profit or cruise off the rental income.

The repayments of a 25-year mortgage are taken care of by their tenants. While they earn a modest income passively and wait for the right time to sell for a 5%, 30% or even a 100% increase in property value.

They’d pay off the remaining balance of their mortgage and receive a lump sum of cash. This would allow them to put larger deposits down, strengthen their credit history with their funders and lend more cash to buy larger assets and make more money.

And as Alan Sugar famously said “You make money from property and do business for fun”.

So If you’re looking to own your first buy to let property or need specific lending advice for traditional and unique properties. Then consider contacting us today and learn just how simple and fast it can be to get your buy to let mortgage approved through Financial Brokers.