Mick Regan was a stay-at-home dad with a busy schedule when I first met him. He had been made redundant from a well-paid job, and was now able to to spend more time at home with his children, which was great. However, he realised that unless he did something soon, his redundancy money would soon be spent!
While it feels nice to buy all those things you’ve always wanted, Mick knew that he needed to replace his income FAST. His redundancy pot was not massive, and he knew that he could fritter it away if he didn’t have an investment plan.
He didn’t know much about HMOs except that they could make him much more money faster than a single buy to let property. So he joined me on my HMO Magical Mentoring Programme and started to look for his first property. Using the knowledge, information and systems from the programme he found an amazing deal almost straight away.
It was a three storey house that had been neglected, and included the bonus of a basement flat conversion. By this time his confidence had grown enough to put in a cheeky offer, and it was accepted. Here are the figures from this, his very first deal:
£178k purchase price
£82k refurb costs
£35k left in the deal
£2500pcm (5 units @ £500pcm)
£600pcm (basement flat)
£3100pcm Gross income (£37200 pa)
The amazing thing that happened to Mick was that after this experience he just got bolder and bolder. He continued to raise money and do deals and he now has a portfolio worth over £1m.
Here’s what he said about working with me’
I started out knowing nothing about HMOs. Wendy taught me how to find the right ones in the right area, and rinse and repeat it. My first HMO makes me £1600 profit per month (fully managed in Stockport) and I now have a pipeline of deals worth over £600k”
It all started with a small investment pot and a desire to create income with what he had.
Could you do that too? Yes you could…
Contact me NOW if you want to find out how you can achieve the same things that Mick did. I offer a FREE 30 minute consultation call to explore your options and see if mentoring is right for you.
Here’s the link to book your call: https://fwfozt-free.10to8.com/