You can get free vouchers from M&S or Amazon from reporting derelict properties to youspotproperty.com and a luck few also have the chance to earn a 1 per cent bonus when the houses they report goes on to become a successful sale!
I always talk about new ways to make money out of property in this blog, but this week’s topic is extra special because it’s probably one of the easiest strategies I’ve shared so far. This strategy is so stress-free all you’ll ever need is time to walk around London and internet access to accomplish this task!
In London, reporting derelict properties can earn you £20 vouchers from M&S or Amazon through the website – Youspotproperty.com. The company summarises the process of reporting and earning in 3 phases: spot it, send it, and spend it!
Whenever you spot a derelict property (which fits the website’s criteria) you can log in to Youspotproperty.com, type in a report containing the description and details of the property, and then they issue a voucher in your name.
Sounds great right?
Well it gets better, because tipsters also have the chance to earn 1 per cent of the price paid in case the deal they recommended pushes through. Assuming that the developers paid for £450,000 for a house you reported; then you have the chance to earn a £4,500 bonus from this transaction!
If you’re interested in cashing in on your tips, you have to find the right properties first. The firm behind Youspotproperty.com only disburses vouchers for tips on residential houses located within the M25 in London and not currently for sale.
In addition, you’ll also have to double check if the property you spotted isn’t already reported in their books; otherwise they won’t issue the voucher to you.
The firm claims that so far they’ve been able to purchase 200 houses in London since their launch and they’ve disbursed around 1,700 vouchers with a value of £34,000. They even boasted that a man was able to collect £8,800 last year within a few months of spotting a run-down house in Balham, south-west London, which the firm managed to buy.
Michael Tsigbe, 24 years old and a regular tipster on youspotproperty.com, claims that he’s been able to report 20 cases to the website so far. However, he reminds everyone that the process of receiving the lucrative bonus fee is pretty drawn out so you don’t expect to hear news about your bonus days after making the report.
I hope this week’s strategy inspired you to sum up the courage to try new things to make extra money. As a special treat for you guys, I’ll be leaving you a quote from Rick Otton in one of his podcasts, hopefully as an inspiration to take action in order to move forward: “Everybody knows what everybody knows. But they only know what’s called history. They don’t know forward thinking. And so therefore, they’ve got to take acceptance around the undiscovered process. Otherwise you could’ve never have introduced the iPhone. You could never have introduced just about any sort of technology if you didn’t believe in the undiscovered process, because you’d have to listen to what everybody said you can do and what you can’t do.”
Want to learn new ways on how to make money from property? Then drop by my blog every week to get your weekly dose of tips and strategies to make money from property.