Are you thinking of Investing in Property and want to educate yourself? Are you a Landlord currently and want to be a better Landlord, grow your Portfolio and make a better return on your Property?
My Property Journey on reflection started in my early teens, when I recall purchasing the local Gazette on Thursday so I can go through the Property Supplement and review Properties and identify great investments. I know, probably not something typical of a 14 year old boy. From a young age, I had seen my immigrant father struggle to provide for our family and we growing up we always lived in crammed spaces. This is the main motivating factor, in my interest of making money and property since an early age and the driving force in me building my business and growing my Property Portfolio.
I purchased my first Property in 2011 at the age of 23. It was a buy to let 3 bedroom house on Manchester Road, Blackpool. Purchase price was £72 000 (no stamp duty applicable). My Dads good friend, guided me a lot, he advised me to purchase the property, secured solicitor, arranged the bank manager for borrowing, instructed the Agent along with support in other areas. If I be honest, yes I didn’t have a clue what was going on. Nicola (the Tenant) moved into the property in March 2012 and is still a current Tenant, yayyyy. There is a reason why I have managed to retain Nicola for this long and hopefully continue to rent to her long time ahead and I will cover that in a future post.
Fast track nearly 9 years later and my current portfolio consists of:
6 Houses – Buy to Let
4 mixed-commercial – retail premises with flats above
2 houses – Used as AirBNB
2 properties in the Pipeline
Clear strategy to add 26 more properties in to the Portfolio within the next 5 years. For me it isn’t just about owning a Propety, its about a great product that I am proud of. Before I have been guilty of purchasing Property just because I was able to at that moment and I thought it was a good investment. I am now a lot more disciplined and any future Investments will have to fit into the remit of my Property Investment Strategy.
Above are the areas that will make you more money from Property, deliver better homes to Tenants and make you a better Landlord. I will be covering these topics over the coming weeks and look forward to sharing with you.