I recently caught an old episode of George Clarke’s Amazing Spaces on Channel 4.
This is the show where architect, George Clarke, and his master craftsman mate, Will Hardy, go around the country looking at people’s renovations and small building projects.
In this particular episode, Will was sent to look around a small… I’m not sure what you call it really?
It’s a tiny and quirky one bed self-catering holiday rental, something that you would probably find on Airbnb and Booking.com, converted from a disused Victorian ladies toilet.
Yes, you read that right!
A Victorian ladies toilet!
The building, called the Loovre, itself is very ornate and it would make a great beach chalet, but I am not sure that it is as appealing on the side of a road in Berwick Upon Tweed, close to an Iceland store.
It looks quite cute but I can’t imagine myself booking it for the night.
It memory serves me well, the guy who bought the tiny toilet, spent around £20,000 converting it into the small holiday rental.
I have no idea how successful it has been renting out the property, or for how much, but at £100 (example) per night (and why would you want to pay that to stay in a cramped loo by the side of a road?) he would need to let it at least 200 times to make his money back.
Actually, it would need to be more because there will be tax to pay on his income and so he would need to rent it out more to get his full £20,000 investment back.
I guess it is quirky enough for some people to spend a night or two in it. Looking on the Airbnb website it appears that the property has 119 reviews with a very respectful 4.92 start rating.
People like different things and so there may be those who like the idea of spending the night in an old Victorian loo by the side of a road.
Property is a great investment, it usually always goes up in value… but that’s not always the case.
Plus, when you start buying small and quirky property like Victorian loos, there may fewer people interested in buying those properties, and so when the time comes to sell it, you may struggle to find a buyer who is willing to pay what you spent on it or more.
£20,000 is quite a lot to spend on a project that may or may not earn you an income.
However, as the saying goes…
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Nothing Ventured… Nothing Gained!
The truth is… without actually spending money, you are unlikely to make money.
There are very few businesses that I can think of that will make you money from a free standing start.
There is always going to be some upfront investment required.
And as I talked about in a previous article, all millionaires and billionaires are willing to lose money trying out new business ventures and ideas.
Those people who protect their money as if their lives counted on it do not truly understand what money is.
Money is a tool that is used to buy anything and everything.
It is a tool that is used to make more money.
By spending money, you either make more money or you lose it.
It all depends on what you spend it on and what your intention was when spending it.
I believe that the guy who spent £20,000 buying and renovating a Victorian toilet will get his money back… and more.
Yes, it is possible that it may lose money, nothing in life is guaranteed, but if he looks after it and markets it properly, he should get his money back and make a profit over time… which is what he appears to be doing nicely according to his Airbnb reviews.
Yes, I have joked about the property and I still find it strange that people would want to spend the night in an old tiny Victorian loo by the side of the road…
But he has done a great job renovating it, and if it fails as a holiday rental, I have a great idea where he could rent it by the hour as a Japanese-style love hotel for people looking for boozed-up illicit meets at the weekend after the clubs have closed.
And that is the point… after spending money on his little property; he now has something that could be used in many different ways to make money.
Now, I am not going to suggest that you go out and spend £20,000 on buying an old disused Victorian loo or something equally small and stinky, what I am suggesting is that if you want to be successful and increase your wealth, you will need to spend money developing something that people will want to buy, use, or rent.
That can be an offline product or service such as a property or a gym, or an online product like a website or a course.
With a lot of products, you create a basic/beta version which you release to the product and you then develop further when the money starts coming in.
I don’t know how much was initially spent developing platforms such as Patreon, GoHighLevel, or Clickfunnels, but they are all now turning over millions in profit for the owners.
The versions that are being used now are not the same as the versions that were initially released to the public.
They have evolved and developed to be much better.
And that is something you should think about… you do not need to spend thousands upon thousands developing something so that it is complete and right from the start, a basic version can be all that is required to get started.
A good example of this would be the person converting an old building into apartments.
As well as selling some apartments ‘off plan’ before the build has been started, the builders would focus their efforts building a few apartments to sell, and the money made from those initial sales would be used to develop the rest of the development.
It is the same when property developers build large housing estates.
Instead of trying to build the whole estate all at once, the builders focus on a few streets getting those houses ready to sell to get money back into the bank ASAP.
The rules is… don’t try and do it all at once, do it in stages.
Want to create a product teaching people how to do something specific?
- Write a short report first and add it to your website to sell for a few pounds.
- Expand on the report to make a comprehensive eBook and then sell that updated version for a few pounds more.
- Create a few videos to go with the eBook and then bundle them together to make a more expensive product.
- Create a membership where people pay a small fee to access the bundle and a couple of new videos each month.
- At the end of the year, take all those new monthly videos along with the eBook and previous video training and create a full training vault for a one-off larger fee.
Start small and build on that.
And if you need to… spend some money… it is the only real way to move forward towards greater wealth.
A perfect example of starting small and then using what you earn to build wealth is the Double Your Way To A Million programme.
Starting with just £100, you double that initial investment 14 times until you hit £1.6 million… or whenever you hit an amount of money you are happy with.
This plan works, several multi-millionaires have been created from following it.
Two of them, Stuart Goldsmith and Barry Tyler, decided to put everything they did and learned into this programme:
Double Your Way To A Million
As with everything in life, if you do not have a plan that you can follow, it’s highly likely that you will fail, or waste a hell of a lot of your precious time trying to figure it all out for yourself.
Stuart and Barry have included a detailed step-by-step plan that will take you to your goal of becoming a millionaire starting with just £100.
Go take a look now.
Kind regards.
John Harrison.
PS. The price of this works out at just 26p a day for a whole year. That’s more than a third of the price of the weekday edition of the Sun newspaper… and the information is a lot more useful and factual too.
With the Double Your Way To A Million programme you will learn how to get started with £100 and double it to £1.6 million.
