Multi-Millionaire Investor Reveals What 90% Of The Rich People Are Investing In Now | Samuel Leeds

We are in a crisis. We're in a housing crisis. We're in a cost of living crisis. However, why are the rich people all investing in property right now still? That's how I became a millionaire. It all started from deal sourcing.

What makes a good deal sourcer? Don't stress about trusts and foundations if you ain't worth at least 10 million cuz it's dumb. What is wrong with people? The effort to set it up in some fund where you're going to avoid tax is not worth it. You have to make a lot more money. People think about a trust. Set up a SAS fund. I'm pro family. I'm pro business. I'm pro success, but England isn't. How can you celebrate divorce and celebrate degeneracy and celebrate poverty and cuss people that are wealthy and then want to be wealthy yourself? It will never happen. I gave my life to Jesus 17 and that was the bedrock of my entire life.

If God asks you to give up your business today, would you do it? Being a resident of Dubai is the best thing I ever did. I will continue investing in Dubai. For me in the UK, my strategy is...

Welcome to the Building Wealth Without Borders podcast with me Lambday Elizabeth. For I'll be bringing you guests from around the world to share their strategies on building wealth. And today we are in London with one of the most notable faces in the UK property scene, property developer and entrepreneur Samuel Leeds. Welcome to the podcast.

Thank you so much for having me. Great to be here.

So I'll let you introduce yourself for those who may not know who you are.

Okay, cool. Well, I'm a property investor. I have built wealth without borders and then when I saw your podcast Building Wealth Without Borders, I thought what a great, what a great name for a show and really respect what you're doing for the community and I've built up a lot of wealth. I mean, I've got four, four children, that's my proudest achievement, wonderful wife, a lot of properties. I've got multiple jurisdictions. I own property in Dubai, UK, Africa and um, tomorrow I'm going to America to go and explore the market. So great to be here.

Amazing. And I think that I actually didn't know before talking to you before this podcast, but I think you do have a building wealth without borders mindset. So that will be interesting to get into. But before we do that, I am going to address what I think people in my community might be asking, which is he's quite a controversial character, how come he's on the Build a Wealth Without Borders podcast? Because typically I do avoid bringing people who I know can stir up certain feelings to the podcast. But the reason and in general, we haven't built this podcast off of um, you know, fame or like, oh, this person is popular, you have to get them on a podcast, etc. I've really wanted it to be about the information that is being shared and some of our most viewed podcasts on and even the most enjoyable podcasts that I've had um or the episodes that I've had have been from people who people didn't really know, right? So, but the reason why I really wanted to have or the reason why I said yes when you asked was because one, I think there are certain things that you have done in property that I don't know many other people who I could have a conversation about those things with because I don't know other people who have done it. So, for example, purchasing the castle, the church, the hotel, and your breadth of being in the UK property scene for 18 years or just property in general. Um, that's something that I think regardless of anything, I think there'd be a lot to learn from that.

Sure. And people might not necessarily like me as the personality that they see on social media, but hopefully they can listen to what we're talking about, draw some good lessons from it, and it will better their life and help them with their investment.

Exactly. And that's that's where I want to go. And so, I did ask um those in the newsletter community what they thought, and majority of people said yes. And so I want people to have an open heart and ear when they're listening. And what I want this to be about is I want everyone who watches it with an open mindset to be like, "Oh, I learned so much from this, however long it's going to be."

And the interesting thing is though, I I respect what you're saying for is cuz some people might have only seen like a 20 second clip of me on social media or something in the news or something crazy, but actually that's marketing, you know? And sometimes even my family say like, we don't look at social media cuz we know the real you. And hopefully this interview will be the real Samuel, is not the 20 seconds on TikTok where I'm rage baiting somebody or, you know, I mean, I'll just hit here and we'll hopefully be able to together add value and and delve into property.

Exactly. Exactly. And I always like to start um when it comes to our conversations with how the guest grew up, especially in relation to wealth, money. So what was your upbringing like?

Yeah, my upbringing was really difficult actually. So my parents separated when I was seven and I lived in a very rough part of Warsaw. So I lived in um Warsaw and around different states like Bloxwich, Leamore, just outside Dudley, which I know you know cuz you've invested in a in a property. Great for investing but for living not so great. So yeah, no, it was tough. Um, I got stabbed when I was 14 years old. I used to get into a lot of fights and things, trouble, left school at 16 years old with no qualifications and no anything. And um, yeah, like childhood for me, I mean, there were some good memories. My mom's an absolute rock star. Um, but it was it wasn't an easy upbringing.

What did your parents do?

So my mom worked as a as a as a child. My mom worked as a mobile hairdresser. My dad was a gardener.

And how did you get end up getting stabbed? What was that story?

That was just walking. I was just walking home one day and I just got jumped. No reason. Literally attacked for no reason.

In your like more recent stuff, there's been a lot of you do a lot of stuff related to religion and you're very vocal about being a Christian. Was that a part of your childhood as well?

Yeah, kind of. I mean, my mom's Christian. Uh, I did go to a Christian school, but I didn't I almost rebelled against it actually as as a young person, but yeah, I gave my life to Jesus age 17 and that was the that's been the bedrock of my entire life and everything that I do. I'm not a perfect Christian by any stretch of the imagination, but I love Jesus. And >> yeah, I wouldn't I wouldn't be the man I am today without him.

Oh, I love that. Um, and what did you want to be when you What was you like I want to be this when I grow up? What was that thing for you?

I didn't really have any aspirations. I mean, I was actually working on a building site when I was 16 years old and the builder that I was working with or working for, I was getting paid like 20, 20, £25 a day. And he was working on an HMO property in the Midlands in Birmingham, house of multiple occupancy. And he was explaining to me almost in rage, you know, UK people don't like people making money. He was like saying, you know, the guy who bought this um the investor that owns it, he's getting us to do all the work, but you know how much he's making? He's going to rent this room out, this room out, this room out, this room out. We're putting an ensuite in. He's going to and he got a little napkin out and started writing down how much he was going to make him rent and how much the property would be worth after the reverb. But I was just thinking, good for him. That's awesome. I need to do that. And I think that was like a real pivot moment for me where I'm like, wow, I but and I always knew even at school, even though I was I was bad in school academically, I always knew that I was okay in business because I used to do a lot of different things when I was at school, paper rounds and everything. And I used to have a little Bradford and Bingley bank account. And every day I'd go and put a bit of money or I'd watch my account grow. And I'd show my teachers. I'd be like, "Look, man. I I got £112 in my bank. Where did that come from?"

That came from doing paper rounds mostly.

But like the mindset...

Oh, I think it's because I was so bad at everything. I'm like, "Oh, I know how to make money though." And also, why do people go to school? People go to school to get good exams to then go to uni to then be able to get a good job to then help them make money. I kind of realized even at school I can just skip all that. I'm not very good academically. I'm not but I can maybe just go straight to the money part. So yeah, even as even as a kid, I had a plastering business and I was always about making money. So I left school with about £2,700 in my account.

That's good.

From from nothing. And for me, I was like, I was so proud of that.

Yeah. And at 16, this is...

Yes.

Okay. And so the guy who was working on the construction site, was he the one that got you interested in property?

He was like a person. I mean, I worked for him, you know, for a very short while. He just he was just cutting this property investor. So I wouldn't like to give him too much credit, but like sometimes they're doing that, but in your mind, it's open the door. But what sparked cuz I know I've seen from other interviews that 17 was a pivotal age for you in terms of my first deal.

Yeah. But what was what led up to even thinking property was a thing?

Well, I read Rich Dad Poor Dad.

Okay.

I don't know if you've read that book.

Yeah, of course. Classic. And I'm like, okay. He's talking about things that I don't really understand, but he made me want to get into property and assets. And so, I just had that desire. And I went to a PIN meeting, Crown Plaza in Birmingham, and I was, I don't know, maybe 16 or just turned 17.

I got a cheap suit. I didn't even have a suit. I got it from Asda. Cost me £34. And I went and I was so nervous. Now you see me think I'm quite outgoing person. But I was so shy. My mouth dried up and I stood behind a pillar just because there's like a pillar thinking I hope no one got to talk to me. I hope no one comes. And this guy came up to me, clocked me in the mirror, came over. He's like, "Oh, so what do you do then?" I didn't know what to say. Like what do you say? Oh, I'm doing nothing. I just left school. Like, you know what I mean? It was just really awkward and horrible. But that was when I first was introduced when the speaker came on. So I was talking about property and you know, I was like, wow, sign me up. And I spent all my money going on property courses.

So you're you're watching you you've read Rich Dad Poor Dad and then I'm guessing you probably started researching property networks and blah blah blah. Then you found PIN and then what gave you the confidence? Did you have to pay for a ticket or you just...

I paid too much. Like the first me was £20, but I ended up spending um as a teenager, I spent over £10,000 in total on going on training programs and stuff as a teenager.

Why would a teenager from a poor background think that it's normal to spend £10,000?

I didn't even think it was normal, but I saw other people going to university and I thought I don't want to do that. I want to skip to the money part. But interestingly, when I went on these courses, all my friends and family, you can imagine, you know, what they'd say. "You're crazy. What are you doing? You're being scammed and all this negative mindset." But then, interestingly, if I'd have gone to university to study business, then it would have been, "Oh, congratulations." In fact, I'm at university now. I'm studying law. Yeah. And if all anyone's ever said to me is, "Oh, wow. You're in law. That's amazing. Congrat." So, why is he amazing? You said that to me. Why is he amazing?

Why Why is he so good? I'm not being funny, but university is a complete scam.

Now, you might say, "But you're at university. I'm at university. I'm paying for it myself. I can afford to. It's no problem." But people that go to school and then come out and then go to university and get into masses of debt and then and then they finish and they think I know I'm at university studying law. I know that I have an statistically an 11% chance of actually becoming a lawyer even if I graduate. Those are the stats. That's terrible. 11%. Even if I graduate and many people don't even graduate, they drop out because they can't, you know, they failed or they so the statistics are so low, but people go to university, get into massive debt, spend tens of thousands of pounds to do it, and then when they finish university, they can't even get a job. It's just absolute mind-bogglingly scammy and everybody claps. Everybody thinks it's acceptable because it's part of the status quo, because it's just what everybody does.

Yeah. I think that I'm a part of a group of people where I think that university was necessary.

Sure.

Um, and I think that but I think that that is for a very, I don't know if it's a small portion, but I think it's a smaller portion than the actual pool of people who go to university.

You know an example though, like you went to university, right? How long did you spend at uni?

Three years.

Three years. And what did you study?

Economic history.

Okay, cool. So you studied economic history. Then you got a job. Do you think your university degree helped you get a job?

100%.

Okay, cool. So you got the job. Great. But then what? Then you quit. Why?

I didn't want to do it anymore.

Right.

Yeah.

That's the point.

Why do you want to do it anymore? Because jobs are a bit crap.

SO, NOT ALWAYS. I KNOW THERE'S EXCEPTIONS.

I know I'm being a bit controversial saying, but I really believe going to uni and spending 40, 50 grand and then getting a job. Do you know what doctors I know doctors that spend 80 grand graduating that are making three and a half grand a month.

Yeah.

That's normal.

Yeah.

That is not right.

But I mean that's the UK though. If you went to if you was in America, you was a doctor, you could be creaming it in after maybe but but I don't know where your audience are based. Are they based in the UK?

Yeah, we have a No, we have a big US or that% but in the US similar story because I mean I don't know the exact economics of what doctors own and stuff.

They do pay a lot for for but yeah, I think so so anyway to answer your question, no, I think I was I'm not very smart. There's lots of stuff I'm not very good at, but I saw that even as a kid. I'm just like, I don't want to go uni. And I think it was also an element of the fact that I couldn't because I'm not academic and I just thought I'll probably fail anyway.

Yeah.

Okay, cool. Now, before I go further, I want to pause here because this is actually the perfect moment to talk about something that connects directly to what we just covered. Building wealth through property or building wealth through business is not abstract. It is a system. And the people who make it work, the ones who scale beyond one deal or one revenue stream or one company, they all have one thing in common. They know their numbers. And that is where a lot of people in our community get tripped up. The idea is solid. The work ethic is there. But cash flow management and proper bookkeeping lets them down. And that is why this video is brought to you in partnership with Xero. Xero is a cloud-based accounting platform built for small businesses and it generally takes the headache out of managing your finances. We're talking invoicing, bill payments, bank reconciliation all in one place. And the cash flow piece is huge. Xero gives you a real-time view of your cash position, so you always know where your business stands. It also makes working with your accountant or bookkeeper seamless. They get access to the same live data that you have. So instead of emailing files back and forth, everyone is on the same page in real time. Xero doesn't replace your accountant. It just means the conversation you have with them are sharper because the numbers are always current. At the time of making this video, Xero is offering 90% off for the first 6 months. Terms and conditions will apply, but the link is in the description box. If you are building something and you want that thing to last and you want to do it right, check out the link in the description box and definitely check out Xero.

How did you go about so from you know what you were learning, how did you go about actually getting your first property?

Yeah, my first property I had to um it it was basically back this is way back in the day when you could buy a property below market value and get 100% mortgage. So it was 21A Marbel Road, mortgage well, Birmingham, um B302DA. I still own the house today and I agreed to buy for £100,000 because on this course that went on, the whole thing was just find a house 25% below market value and then you can use the discount as the deposit.

Make sense?

Mhm.

And I'm like, okay, cool. So I managed to find a house after like trying for months. How do you find a house that's 25 or how did you I'm sure it's changed now. How do you find a house that's 25% below?

Okay. Um, firstly, you have to call up about a house that's been on the market. It's still the same today and say, "Hey, I can see your house on the market for £125,000. Speak to the agent. I've only got £100, but is it worth me viewing, booking a viewing or not?" Most people say no, but that call took one minute. And then all the people that say, "Oh, maybe they are quite motivated." You only view those houses. And within literally a matter of weeks, you'll get you'll get a deal.

I like that. And I know that you've mentioned on another podcast that you got your your stepdad to be a guarantor.

Yeah. Yeah. So so so basically I was just like, I'm just going to do what they say, like just follow it. So I followed it and I finally got this agent to say, you've got a house. Yeah. £100,000. Your offer has been accepted. Congratulations. And I'm like, okay. And then they're like, we just need your proof of funds, your mortgage, and principal. I didn't have anything.

So then I went back to my mentor and I'm like, "Okay, I've done what you said. I've now got this deal. What do I do?" And he was like, "Oh, well, your mentorship's now ended." And so I was literally, "What the heck?"

I spoke to a mortgage broker and they're like, "Oh, no, no, no. You can't." I'm like I'm like, "But I'm going to be 18 quite soon." No, no, no. You need to be 21 to get a Blet mortgage. Basically, the system worked, but not for 17 year olds.

M. So then what I had to do is I had to pitch my mom's husband who I didn't even get on with that well at the time because they didn't marry until I was like 12, 13, so we didn't have a great relationship, but I was like, "Hey, look, I don't want a penny from you, but do you mind being a guarantor?" And anyway, um, he said yes. So I I owe for that and I've I've paid him back greatly in lots of different ways, but that was how I got my first property.

And did who did you rent it out to? How much did it cost? How much did you rent it for?

So, I bought it for £100,000. Um, 100% mortgaged. This was...

How big was it?

Uh, so it was a three-bed house with two reception rooms.

Okay.

And what I did was I turned one of the reception rooms into a bedroom.

Okay.

Turned it into a four-bed. And I did that literally just, you know, by putting a bed in it. Like I didn't do any reconfiguration. And then I rented out room by room and got about £350 per month per room.

Okay.

And this was before Article 4, license, any of that. And um, yeah, that brought me in about £1,400 a month. And then after bills and everything, I was I managed it myself. I was left with about £950 a month profit.

And at the time for me, that was just like, oh my goodness, I'm rich, you know, making making like a grand a month without going to work and I'm 17. I live with my mama. That was absolutely the feeling that I got from that. I've never experienced again. I can imagine the closest thing that I can experience from from from that is actually helping other people get their first deal and seeing them.

That's that's one of the reasons I have my education company. But like that first deal...

I'm going to ask you a question which I probably know the answer to, which is, can people use that strategy today?

Which is probably going to be no.

Yeah. If not, what can they do to if someone is in a similar situation to what you were in? What are the things that work in today's market?

Yeah. So, they can't do it quite like that. I mean, there are certain ways you can like if you've got like a right to buy, you can potentially use the discount as a deposit. But the way to do it now is basically similar, but instead of getting it below market value, um, is to buy a property, increase the value, and then get a new mortgage and get your money back.

M. But that requires money.

It does, but you can get bridging finance.

Mhm.

So you can buy a property with a bridging loan, which bridges the gap between purchase and refinance. Um, also, if the deal's good, you can get private investor finance and then you can pay them back once you've increased the value. So, one of the things that I also do now, I also have a business called Samuel Leeds Finance, where we loan money out to people that have got these deals, um, which is something I mean, I've I've personally loaned out over £15 million pounds of my own money to help people get that first deal. Cuz once you've done one deal, that's the thing as well. It's really hard having people back you for your first deal. I was lucky cuz I had my stepdad though. He didn't give me any money. Fine. But he still signed his name. You know what I'm saying? So having that for me, I'm I can be like, man, I was blessed. So that's why now I want to be like that person to other people.

You know what I'm saying?

What interest rates do you charge?

So we charge 1% a month.

Okay.

Um, for the first 6 months, then 1.5%. And there's also a 1% in and 1% out. So it's not cheap.

But it's a bridge. You don't want it. People...

Sometimes okay, it's bridging. Okay. So so people say to me like, oh, is bridging, should I get a bridging loan? Is it a good strategy? And the answer is it depends. It's a good tool if used correctly, but if you've got a really good deal where we we only loan to people who have got good property deals where there's there's enough profit in the deal to make sure everybody gets a slice of the pie. It's almost like a partnership. You know what I mean? When you put your money into someone's deal, you're having to vet that deal. You're financing it. I'm having to write the check. So, they're finding it. They're It's their deal, but it's almost like a partnership. So, there has to be enough profit in the deal for it to work. And that's the thing, people that's why I only work with people that I'm actually I only loan to people that I'm also mentoring because otherwise I'd have everybody trying to give me deals and I wouldn't be able to vet them. I won't have time.

Okay. So, and then for those who don't know what bridging is, is basically a form of short-term financing.

Yes.

Yeah. Um, on that note though, can you give a bit of an overview of what the property market was like when you started versus where we are at today?

Yeah.

Yeah, very interesting question and the property market tends to work in cycles. So you have a recession and everyone's panicking and everything's bad and at that time everyone's saying it's a really bad time to buy property and properties are dipping. But after those times, after that period will always come a boom. It's a bit like when you when it goes dark at night and it's it rains and it's cold and it's dark, but you know the sun's coming in the morning. It's the same with the property market. So when I started in 2009, it was a really bad time. It was um a really bad time. There was the great recession. So this is when banks were going bust. This is when the media was saying don't buy properties. It's terrible. This is when everyone was scared. And that's when I got in. Not because I was really smart, just because I just happened to get in by chance. And what happened was after I bought that first property, it actually did go down in value a bit. And it was like, ooh, at one point my net worth was in the minuses.

But you know, I didn't mind.

Because I was still making that 950 every month.

I was...

How did you know the value was going down? Why would you why would you care?

Well, it's it's it's a good question and it's a fair question to ask, but you kind of do care cuz when you got something that you own...

It's like...

But are you checking on like...

Yeah, I was checking on. I was checking like every week. I was on I used to use a website called Mouseprice and I used now I use different ones, but I just be checking on what's going on. Yeah. Yeah. And you see the newspapers, they were like, and there was honestly people were saying at the time, oh, house prices are going to go back. Even like some people in my family that were older were like, I remember when houses were five grand. I think it's going to go back to. And I'm like, oh jeez, I just bought this house for. But then what happened was it dipped a little bit, but then it shot up.

So now that house is worth um just shy of £300,000. So it's it's doubled. Well, it's gone up by 300% almost in in the in the 18 years. So yeah, we saw a boom, then we saw another bust, went through a recession in depending on where you are in the country, we all saw the 2020 recession and and we saw what happened when the the the, you know, the banks suddenly got really scared and we saw property prices going a bit and everyone in 2020 was saying don't buy now, don't buy now. You probably remember that time, right?

That's when I bought actually.

Boom. So you're a bit like me. Yeah. So, and I bought aggressively then as well in in 2020 and then of course, we then saw the boom come in in 2021, 2022, 2023. Saw it. Then interest rates went high. Now I feel like we're in that scary place again. Now it's like, you know, uh interest rates, they're not too high, but they did go up. It's it's affected house prices. We've had some of the um uncertainty in the We've had Brexit. We've got uh wars going on and people are we've got we're in them. The big recession that we're in now though, how we'll remember it, in 2008 it was the credit crunch when banks weren't lending. In 2020, it was the lockdown recession. It was a manufactured recession. Now, I think the recession, how we'll remember this when we look back, is the time when cost of living got so out of control where jobs and employees and I mean, I worked in a food bank many years ago as a volunteer and the people that used to come to the food bank were like homeless people and people that were destitute and drug addicts. Now, I mean, again, I I also I've got a soup kitchen and stuff out of fun and like people come and they're employees, they're nurses, you know what I mean? It's like, what is going on? And I think we're seeing that big divide now between the rich and poor. So, we are in a crisis. We're in a housing crisis. We're in a cost of living crisis. And I think that it's from an opportunistic perspective from an investor, it's great because inflation and cost of living crisis is brilliant if you're rich. Like I've got a lot of houses. So when inflation goes happens and when rents go through the roof, it's selfishly that's great.

Yeah.

But then as an employee that's saving up to buy your first house and it's just in the in the system, it it you know, it's people are gonna get wrecked.

M. From an investor's perspective, like there's a lot of changes that have happened in the UK property market just in general in terms of like legislation. So let's say for example, the Renters' Reform Bill is coming on the first of May.

Well, yeah, they're phasing in the reform. So in that would make a lot of people say, UK property market, dead, don't do it. Landlords are losing rights. It's the the deals aren't stacking up anymore. What would you say about that and in comparing that to when you started?

Yeah, I mean, for us, it's a really good question. I would say I completely agree with. I can understand why people think that and I can understand why people are put off with the legislation with the massive, massive fines. I don't know if you if you've seen the fines that they're doing. I mean, just for if if you just an admin error with your tenant now, you can be fined seven grand and the fines go up to 40 grand as a landlord now in the UK. And it's scary. So that's something everybody should be aware of. However, why are the rich people all investing in property right now still? What do they know? Why are the banks? Why are Lloyds Bank and BlackRock and all these big companies and all the billionaires investing in property?

So I think I would follow the money. But then don't you think that they are making it because of these things that they are putting in place that make it, because if a a normal, your everyday investor gets hit with a £7k fine, that would be something substantial for them, but if a if BlackRock gets hit with a £7k fine, I'm sure that's not noticeable. So don't you think they are making it more difficult for your DIY everyday landlord and so the corporations are coming and sweeping everything up?

I 100% think that. And it's it's not just that BlackRock won't mind getting hit with a seven grand bill. They won't get hit because they'll do it properly. You only get hit with the fines when you do things wrong and when you don't know the game.

Is it a market that we should still be investing in then?

Is it a market that we should still be investing in? Yeah, absolutely. I think it's going to boom. But learn the rules of the game. Don't invest. I don't think you should invest in anything if you don't know it, though. I remember investing in cryptocurrency and I got hacked and lost all my money. Yeah, if you're going to invest, you should listen to podcasts. You should read some books. Maybe if you're going to invest a lot, you should consider getting a mentor and do it. Invest a little bit into yourself before you go and start aggressively building a property business is my advice.

So, you think it's more of a knowledge thing?

I think so. Yeah, it's it's knowing the timing of things. It's knowing also what to buy. If you just buy a normal BTL house, if you had if you bought a property right now in Croydon, you're probably going to be talking £600,000 for the same house. And the rent would not be six times as much. The rent might instead of being £900, the rent might be £2,000. So suddenly you've got a very, very, very low yield. Your margins are extremely tight.

M. If you get hit with a seven grand bill now, that's your whole profit gone for the year.

Not just profit gone for the year. If you but also if the tenant doesn't pay rent, if you have a boiler break. So just buying property and renting it out when you don't know how to maximize the rent, when you don't know how to push the value up, when you it can be just a very expensive hobby and not actually passive income at all.

So you definitely have to be more strategic. But one of the things I hear a lot of more seasoned or one of our guests who was a very seasoned investor, what she struggled with with UK property, she was saying that the exit um seems to be an issue that she is not finding a good way to exit where you're still not getting slammed with taxes.

Mhm.

And that's why she's no longer, you know, wanting to build up the UK portfolio.

Yeah. I mean, for me in the UK, my strategy is generally I buy properties, I increase the value of them, and then I refinance them. So I'll buy, I I'll buy a property. I bought a property, I bought many properties actually in the last few months and not just in the UK, but in the UK because taxes are so high in the UK, which they are. Even though I'm a resident of Dubai, you could literally not spend an hour in the UK. You could be a resident of Dubai, be born and bred in Dubai, you could be a citizen of Dubai, but if you buy UK property, HMRC's going to come for you. So there's no way around it. The only way around it, which is what I have found, is to buy a property.

Mhm.

Increase the value. Like your property, buy for £120,000. You then wait for it to go up in value or you push the value to £160,000. That's £40,000 profit.

M. But it's not profit because unless you sell, you don't pay tax. So that £40,000 that you've made in profit is unreleased gain.

Mhm.

So there's no capital gains tax because it's not profit yet. So what I do is I then get a new mortgage.

Mhm.

Cuz you could get a mortgage now probably of 75% of £160,000, which would be about £120,000.

Mhm.

Which means whatever money you put in, you get back out.

Mhm. I just actually did just I just did a refinancing.

Yeah.

Right. So yeah, I know you know you know what you're doing. You've been doing this a while.

But then when you get that money back, you buy another property with it. So what I'm doing is I'm snowballing my portfolio in the UK, but I'm using that strategy and that's how I'm not paying taxes.

Makes sense.

But then let's say then, but that money is still within your company. They're assuming that you're doing it within a company structure.

I do it within a foundation, but that's another story.

Oh god. Interesting.

Yeah. How cuz I've heard you speak about having property in your personal name versus company.

Yeah.

What is your rationale for doing it in both?

Okay. So, it depends on the property and it depends on the strategy and it depends on the person. So, anybody teaching and saying always do it in a company or always, you know, set up a trust, you know, my my thoughts on that is reckless advice because you don't know the person that's listening, right? So, what you actually need to do is you need to say, "Okay, firstly, is this my first property?" If this is my first property that I'm buying and I'm a first-time buyer, it probably makes a lot of sense to buy personally because you're going to get stamp duty relief because you're a first-time buyer. But if you do it in a company, you're not going to get that relief. And stamp duty is now there's a surcharge of 5%, which means even if you buy a cheap property for £200,000, your stamp duty is going to be at least £10,000, but there's a sliding scale. So your stamp duty is huge. Whereas if you buy in your personal name, you could be completely exempt from that. Completely. So that alone is a good reason to buy in your personal name. Secondly, if you buy a property and you're buying it to flip it, let's say it's your first property that you're doing. If you buy it and pay no stamp duty and then it goes up in value and it's your residence and then you sell it and make £40,000, £50,000, your tax will be zero because it was your residence. Whereas if you did it through a company because you watched a video of someone saying, "Oh, I was buying a company." Now you're going to have to pay corporation tax. So it's very dangerous. And listen, I might be guilty. I'm sure cuz I put a lot of videos out in short form content, but I will say here now, don't don't watch short form. Yes, but listen to long form and please get financial advice. Don't buy a property and go, "Oh, I'm just going to set up a company and without any financial or professional advice. Get an accountant." Yeah. And get an accountant who actually invests in property and say to them, "This is my situation. What makes sense?" It might be I'm using a foundation right now, which is like a a form of a trust or it's it's like a modern trust that makes sense for me to do that, not for tax reasons, for um, well two main reasons. One is for protection reasons because I don't want to own so much that I've become exposed.

Mhm.

And the second reason is for anonymity reasons.

Yeah.

Because I don't want people to be able to go on Companies House.

I was going to ask you that. I was like, is that a reason? Because I think privacy in the UK is something you don't really care about.

In Dubai, it's different. So, my properties in Dubai, well, you could find them because you see me doing videos outside them, but you can't find it. Whereas in the UK, things are quite um if it's your personal name, it's not. If it's in a company, it's very difficult if you haven't got a mortgage on it. But if you've got a mortgage on the property and it's on it in a company, then people you can get journalists going up and interviewing your tenants like I have to deal with, which as it happens, I'm a good landlord and my tenants are happy, but I mean, how do tenants generally feel about about paying rent? Not that happy. So if you get a journalist going, "How do you feel about the rent price?" They could easily, you know what I mean? So for me, it makes sense. But this is not something that I would just advise people, just go and watch one TikTok video and and set up a foundation or a trust.

Yeah, I think you're right. And I think it it definitely there's so many things that play into it. Like even just your salary tax band, like there are so many different reasons as to why you should choose one or the other. And I actually know someone, he did that strategy of moving into a house, um refurbishing it, whatever, whatever, and then selling it, taking that money, buying a bigger house, refurbishing that one, selling that for even more profit. And he did that up until like, I think he started with like a couple hundred thousand to like 4 million was the last one and then he sold it to like a footballer.

Wow.

Wow. And you paid no tax.

No.

Wow. And now this is another thing as well, and I'm going to be vulnerable now and I'm going to share a life lesson of me talking on social media. So that exact strategy, I did a post explaining that and saying to people, "Hey, listen guys, you you know, if you buy a house and it's your home residence and then you sell it, you're exempt from tax." So, a potential strategy is, and I said, I said like that, buy a house, do it up, sell it, buy a big house. Um, and of course, because Samuel Leeds said it, and I'm controversial, I then had HMRC writing to me. I had what I I I was in the newspapers about it saying um saying that my advice is not true, saying that actually if you do that as a strategy, you're not exempt from the tax.

But there's no way for them to realistically prove that.

There is. How?

You're you're kind of right. You're half right. But that's the thing. There's so many nuances and gray areas when you come to tax, right? Which is why I say get professional advice. But if you number one, if you do it and then talk about it on a podcast, they can come for you. So I have to be a bit more careful now. That's what I've learned. I didn't used to be. I used to just say, "Hey, this is what I'm doing." Now I'm like, "Okay, be a bit careful." Um, the second thing is if they can if you're doing it a lot, like let's say you do that every year and you've been doing it for the last 5 years, then they would say, "No, you're actually doing that to make money. You didn't buy a house and it went up in value and you did a bit of refurb, but then you actually we want to move. You are clearly there's a pattern here. They can then rec say, no, you need you need to pay you need to pay capital gains tax." They can. So, my post, you could argue, relax, it was just a post. Like, come on, watch the long form content. You could argue, but you could also argue, no, it was misleading because someone could see that post that I posted and could say, "Oh, I'm going to do that as my whole business strategy. I'm not going to get a mentor. I'm not going to get any professional advice. Samuel made a post. I'm just going to do that by the letter." and and and then you could end up getting HMRC knocking and saying you need to pay it back. So...

You take the post down.

Uh, I didn't take it down, but...

Only because I didn't want to give more ammo to the press by then going, "He's now." They would probably have another story now. Deletes his post. So I didn't. But what I did do was I addressed it in a long-form podcast.

Right now. Okay. Um, I want to go into deal sourcing a little bit because I did see that you said that that was one of the actual main ways you started making good, good amounts of money from property. So, can you speak a little bit about that?

That's how I became a millionaire, a cash millionaire.

And I, that's how I actually became known in property because I had to market the fact that I was doing it so I could find investors. And in marketing it, what I did was I started doing videos on YouTube and I would send those videos to my list on my CRM system.

But then the YouTube videos organically started getting views. I'm like, "Oh my goodness." So it all started from deal sourcing. And, you know, when I got that first house in Birmingham, I told you about, I ended up getting a few lease options and different bits, but I couldn't really do that much anymore because the rules changed. I couldn't get my stepdad to keep being a character for me. So, I'm like, man, I know how to do it. I've spent all this money on training to find these deals, but I can't actually put them in my name because I'm a teenager.

So, what can I do? So, I monetized it and found deals for other people.

And then rather than asking them to be a guarantor, I said, "You can just keep the deal, but just give me £1,000."

And they'd go, "Am I all right?"

Yeah. A lot of people, a lot of other guests on the podcast have spoken about that as a way to start if you don't have enough to actually go and buy your own property, but you're still trying to learn, etc. What would you, if someone was watching this thinking, "Oh, maybe that's where I want to start." What would you, what makes a good deal sourcer?

A good deal sourcer makes somebody who really understands the properties that they're sourcing. So even if you're new and you feel like I don't know anything, what you can do is you can start in an area that you know really well. Let's say that someone's watching this and they live in Hackney. That's maybe where you start. Next, speak to agents in Hackney. Two days ago, I was in London. I walked into an estate agent and I just said, where was I now? I was in Westminster and I walked into an estate agent and I just said to them, I'm looking for flats that I can buy. One-bed flats turn into two-bed flats and add value. You got anything? And they went, "Oh, we don't." But what are you looking for? And I spent an hour with them and they have become my personal shopper now. They're like, "We," they said, "Are you speaking to other agents in the area?" I was like, "Yeah, a few." They said, "Only speak to us if you need us to view properties on your behalf." Right. That's what they said.

So here's my point. Here's where I'm going with this. If you are brand new, but you're in an area you know really well, you've got links to estate agents, you can be hands and feet on the ground, you could find a good management company, then actually you can become really valuable to an investor that might be looking to invest in that area.

And you know, you, you just need to get comfortable. Don't be trying to sell deals if they're going to ask you questions and you just don't know the answer because you're completely, uh, rubbish. But at the same time, don't underestimate your skill because you could actually within literally a matter of a few days, speak to agents, get a little power team together, be reviewing properties, and also it's just a numbers game, isn't it? Like, let's say you do the trick I said earlier. "Hey, I can see the property on for sale in Hackney. It's on for 300 grand. I've only got 270. Is it worth me booking a viewing or not?" And I'm only viewing those properties and I've got a nice little team. Why would an investor not pay a few thousand for you to find a deal, negotiate it? It's a very, very good strategy. Um, but you just need to do it properly because there are people that are very good at sales, very good at marketing themselves, but their knowledge is paper thin. And they sell bad deals, they get a bad rep, they, they end up messing it all up. So do it, but do it again. Do it properly. Get trained. Or at least get, even if it's not trained, I'm not talking about trained going on an actual course. Or you could get trained by listening to loads of podcasts, speaking to agents, having advisors. But, but, but, but yeah, I, I would say just to start with that. Start by knowing how to find good deals. And a good deal is anything that makes money.

Anything that makes money.

Well, it could, you, you can make money three ways when you buy property. Number one, when you buy. If I buy a property and it's worth 300 grand, but I buy it for 250, I just increase my net worth by 50 grand.

Mhm.

So that would be good. 20% below market value is good.

Mhm.

Number two is you make money from the rent.

Mhm.

So if the property gives a good yield, i.e. how much am I putting in? What am I getting back? Because if I put my money in the bank, I'm only going to get 1%, 2%. If I went into this property, how much return am I going to get? If you can find something that gives a 10%, 15% or 20% return, that's really good.

And then number three is capital gains. So again, if you can find a way to increase the value of the property, like I did in one of my properties in London, which was I bought a one-bed flat, turn into a two-bed flat, and you can, you can add value. Every time you spend a pound on the property, on the refurb or the renovations, you're adding £3 worth of value.

That's a good way. But yeah, anything that makes money. I'm not talking about, oh, it made, you know, a 1% return on investment. But if you can increase the value by 25%, if you can get a below market value offer of 20%, if you get a return on investment of 15%, 20%, these figures are very, very strong and investors will want to buy.

Yeah. I mean, and I want to finance.

Yeah. I mean, I use sources, um, as well. But like, you, I, I'm expecting you to know a good lot of stuff. Like, I want to be able to ask you questions and I want to know, like, okay, what the current tenants in there? How much are they paying per room? Why, why? Like, I don't mind paying for sourcing. And so I'm saying this because people might think, "Oh, who would buy?" People out there, who would pay money for sourcing? There are many, many people.

I, I currently have a sourcing business that does around about £100,000 a month in revenue. And believe me, we have more investors at the moment wanting to buy than we've ever had. There are seriously, a lot of investors.

You can make money from it, but you just need to know your stuff. Like, know your stuff.

The flip side of that is what you do. I've bought deals from people that have been clueless. And normally, here's how it works. They, I'll be training them on my academy. They'll bring me a deal and I go, "What do you think of this deal?" And they go, "I'm looking to buy it." And I'm like, "That deal looks really good." And they're like, "Oh, the only thing is, I don't really have the money." And and I'm like, "I'll, I'll buy this one off you if you want." Like, "How much do you want?" And I've bought deals from people that are literally like two days in that don't really know what I'm talking about, but they've just found a good opportunity. But maybe that's, maybe that's my luck.

All right, I want to quickly jump into commercial before we shift to talking about more global stuff. Um, because one of the things that I know for sure is that as people get wealthier, they tend to move from residential to commercial. So, I'm going to start with the obvious question. Why do they do that?

I think there's a lot of benefits to commercial property. So, uh, for tax reasons, it can be advantageous. Also, you generally with commercial properties, you're going to have tenants on a very long lease. So, it's called FRI, which stands for fully repairing and insured lease, which means that the tenant is responsible for the insurance or repairs. So, if you're wealthy and you've got a lot of properties, then you don't necessarily want hundreds of little residential houses. It's, it's, you can do bigger deals. So I think that's the reason. And also with commercial property, there's a lot of things you can do from a tax perspective, like capital allowances. So, there's properties that you can buy and many parts of the fixtures and fittings when you're doing the refurb and even the purchase itself. Like when we bought some of our hotels, we've been able to get a lot of allowances for things that we wouldn't have been able to get if it was a normal residential house. Um, so I think there's many reasons. Also, you can buy through a SIPP fund, which is, which is fantastic, which is one of the things that we do ourselves. Um, so there are advantages to commercial property, but most of my properties are still residential.

What? So, let's talk about, I don't know if we, is it the castle you said was a bad investment?

Yes.

Why? Tell us about why you bought a castle. What castle? Why? And why is it not a good investment? Why wasn't it a good investment?

Well, it was a bad investment in many ways. Mainly that I have lost around £3 million, maybe more actually. Maybe about 3.5 million.

Okay. Which is, you know.

Why did you buy this castle in the first place?

I bought it because I bought it based on feelings.

Okay.

Rather than formulas.

What feeling was that? Oh, I want to own a castle.

Pretty much.

Okay.

Yeah. No, no, I bought it because I thought it would be a fantastic renovation project. And I also thought, wow, it was on, it was on an auction for 500 grand. And I was like, that's a lot of property for half a million. It's got 8 acres of land. It's in a nice area. And I thought, "Wow, that'd be amazing." So, I bought it and it's been an absolute disaster, to be honest.

Why? What happened?

Oh, everything that's happened. It's had, it had a lot of Japanese knotweed. It had, I mean, here's the funny thing, though.

Japanese knotweed sounds like a big deal. Like, I fixed that real fast. It had structural issues. I fixed that real fast. It had all bats.

You, you can't do anything because there's bats. Unless you sort the bats out. Okay, how do I sort the bats out? You need a special bat license, man. Okay, cool. And what does the bat license man say? Oh, he says that you can't do anything until June when they come out. Okay, we'll wait till June then. Delay. June comes. Okay. What do we do? We need to rehouse the bats. Okay. How do we do that? We need to build them a house and we need to. Okay. All right. So, we build them a house. A bat house where we put them all the bats because you can't kill them because they're protected. They have more rights than tenants.

Um, so they can't just fly away?

They can. But how do you? It's their house. They have rights. It's like if a tenant just leaves, you can't just come and change the locks.

It's theirs.

It's a bat.

It's a bat. But bats have rights, my friend.

A lot of rights in, in my house.

So do badgers. So do many things. Yeah. In your house.

Okay.

And the house is not even my house completely because although I bought it cash and own it outright, it's a listed building, which means that it's got historical value, which means that now every time I want to change anything, I want to change a window, I want to change a door, I have to get permission from English Heritage.

So it was a nightmare. I wouldn't wish the experience that would have bankrupted most people because I lost 3.5 million. Gone.

What was you planning to do with it? Turn it into flats or was you?

Turn it into flats and houses.

M.

Yeah. So, that was a nightmare.

But I guess the flip side is I learned a lot.

It would have been cheaper to attend a course.

Yeah.

About castles or something. Yeah.

But no, I, I, you can either learn from your mistakes or you learn from your education.

What are you doing with it now?

I'm selling it. I just sold it actually.

Okay.

Sold it about two hours ago.

What did you sell it for?

You don't want to know.

Was it less than 500k?

Yep.

Why are you laughing at my page? Exactly.

I'm sorry.

No, it is funny. It is funny and I can laugh about it. But the, the, the, the flip side to that is, um, when I bought it, what, I knew that it was a risk. I wasn't a complete idiot. I was, 80% idiot, but this tiny bit of sensibleness to me knew that this is going to be a risk. M. So, I put it in a trading one of my trading companies, namely Samuel's Limited.

Mhm.

And Samuel's Limited. Um, we have our academy. We also have our deal sourcing. All of our deal sourcing, which is 100 grand a month, is Samuel's Limited. Samuel's Limited makes a lot of money. My tax bill, um, this year is 3.5 million.

Tax.

Yes. That's how much tax I have to pay.

Okay. However, because I knew that it was a risk buying that castle, I put it in my trading company, which everyone advised against because traditionally you should never mix assets and trading income together in one company because it means you're exposed. But I knew no one's going to sue me because I don't really get people suing me. I sue people, but they don't really sue me very often. It's very, very rare. So, what that means is that the loss that I made on the castle was a tax write-off.

Means I can offset.

Yeah. Correct. It means I can offset to my tax bill, which means actually my 3.5 million tax bill disappears.

Fair play. That's that.

Mitigation.

It wouldn't have. If I have just bought that in my asset holding company or if I just bought that in that would have been literally £3.5 million gone. But because of the way I did it, it's kind of cost me nothing. M. Because I would have had to give that to the HMRC anyway. So, at least that's what I have to tell myself to sleep better at night. But that is true. What I told you is true.

Okay, cool. Um, I wanted to also talk about the church. So, recently you went viral on Twitter for saying that you wanted to protect some of the churches in the UK that were being shut down.

Mhm.

Talk to me about that. What even made you? How did you know those churches were being shut down?

Because I regularly get people bring me churches and they say, "Oh, do you want to buy this church? It's got planning permission and it can be turned into flats." And I've always said no. I had somebody a few weeks ago bring me a church and it had planning permission and the profit on it would have been about £400,000. And even though the figures just totally made sense, I, as a Christian, just didn't feel comfortable buying a church and converting it into flats.

So, I said no. And I spoke to a couple people about it, actually, one of my mentors, and he was like, "But if you don't buy it, someone else will." I'm like, "But that's how all wickedness starts. If you say, 'Oh, if you don't do it, someone else.'" Well, that's like saying, "I'm just going to steal from the shops because they budget for it anyway. If I don't steal, someone's going to." Like, it's no, no, that's not being a person with integrity. So, for me, I've never done it. It's always grated me and I've even had people in my academy that have done it. And, and, and I, I can't tell them not to. They've got to do what they've got to do. They've got to make money. They just follow my teachings. I don't like it. And that's the reason that I am passionate about it.

Do you want to keep them as churches?

Yes.

Okay.

Yeah.

Is it for tax write-off purposes or is that just a benefit? Is that a benefit of it though?

Buying a church. Is that?

I've not even thought about it or considered it.

Okay. Fair.

To be honest.

Could it be though?

I'm just, I'm just wondering. I wonder.

Um, yeah, obviously. Yeah, it would be, wouldn't it? Because I mean, I've got, I've got like, like, I bought, I offered, I offered on that that church a week or so back, 225, and that was in Warsaw where I'm from. And then they were messing around and saying they got loads of developers. So I upped it to 250. And then it made the newspapers. Um, but yeah, of course it would be, it would be a tax write-off because if you do something like, I've, I've got a house, um, in Blox, actually, again, not far from Dudley. And I bought that, I added a bit of value, did a little refurb. And while I was doing the rehab, I was working out the numbers and I worked out, man, I'm going to refinance this, I'm going to pull out every penny, and I'm going to buy another house. And I already have a lot of houses. I have over 100 residential houses and a lot more if you include hotels and commercial and stuff. So, I'm, I'm doing all right. But I thought, man, it's like, literally, it almost is like a free house because I only bought it six months prior and now I'm in a refund, get all my money back, go buy another one. Um, and I, I felt really compelled to use this house, um, to just house homeless people.

Okay. And there's a soup kitchen that I fund in Warsaw, which is again, where I'm from. And there's so many people that, like I said, that come to the soup kitchen and they're really, they're not even like homeless. M. They're just in between, you know, people say, "I'm in between jobs." They're in between houses. And they don't know the system. They, they, they don't know how to get a job. They don't know how to even apply for council housing because they've never been in that situation. All their life they thought they were just middle class, working class, and now they're like, "Man, I've been shafted."

Do you know what I mean? They just, they basically been done by the system. And I do a lot of work overseas and we build schools and hospitals, you know, through the Sang Foundation. But I, I just felt like I needed to do some. And a lot of my houses, we, we have homeless people in there, but it's, it's done. But we still get paid. So, I've got properties, a lot of them are in Birmingham, where we give them to a housing association and the housing association gets government grants and puts people from the streets, puts them in there. But it's all vetted by the councils. It's all the red tape and everything like that. But I didn't want to get paid for this one. And I wanted no red tape. And you know what I want to do more than anything? Education. I'm like, I want to get these people in the house and I want to spend time with them. I want to teach them. I want to teach them how to get on the ladder, how to get out the slump, how to actually apply for a council house. I want to teach them.

So, I've created a course and it's called Rebuild Your Life, like the boomerang course, Rebuild Your Life. And this house, I teamed up with a church called Bethel Lighthouse. And I've commissioned them to vet the people from the soup kitchen. They also have volunteers that run the soup kitchen that I fund. And that's basically what this house is for. And that I was going to Warsaw to view that house to sign it off. But when I was, like, a few minutes away from the house, I saw the church and I'm like, "Another rundown church." I got out of my car and I wanted to have a look at the building. And there was a sign that said, "Men's soup kitchen." There's this, there's this women's. And I'm like, "Wow, so good for." But it's boarded up for sale. And I thought, wouldn't that be an incredible place? I know many churches in Warsaw that need a building. Wouldn't it be a great place to be able to have homeless people in the week, have church in the evening, let them do their thing? So, that's why I put an offer on the church with the view. I'm going to just rent it to the church for free and run it for a good cause. So, that's basically the story with, with, with that stuff.

I like that. One of the things that you said before we we started recording was you went to biblical economic school.

I went to Bible college.

Bible college. Okay. For three years because you asked yourself the question, if God asked me to give up my business, would I do it?

Correct.

If God asked you to give up your business today, would you do it?

100%.

You give it up?

Yeah.

All of it?

100%.

Sell it all?

I would. I would give it all away. I would live in a caravan and be happy.

Yeah.

Yeah. And I did already. I, I, I already did. I mean, we come into the world with nothing and we leave with nothing. And everything that we have in between, we're stewards.

Mhm.

And, you know, we talk about freehold, leasehold. Everything on this earth is leasehold.

Mhm.

Because it doesn't belong to us. We don't know what could happen. I was in Dubai a couple weeks ago and I was walking the beach and I said to Amanda, "Wow, what a dream life we live. We're literally living in a mansion on the beach and it's so lovely and so peaceful and it's safe and people don't even really know who I am. I can just walk around freely and it is so perfect." And then that same day there was missiles and we left. And it's like, you just don't know what can happen. You don't know anything can change like that. You don't know your health can be taken. You're, my children are gifts from God and they are on loan to me. And and as soon as you get too clingy and I know people that are very wealthy and they're very miserable and they live in continual fear because you cannot have as much as I've got foundations and trusts and overseas jurisdictions. Absolutely. I'm a good steward and I want to provide for my family and I want to protect what God has given me. Absolutely. But ultimately, as soon as you get obsessed with things and materials and then you lose your soul.

And how do you, because I know you've spoken about this before, how do you then speak to Christians or other religious people who may hear what you say and say, "See, this is why I don't want to build wealth or I don't want to go out there and build businesses because at the end of the day, it's not mine or at the end of the day, I don't know, that doesn't that doesn't mean I'm being a good Christian." What would you say to those people?

It doesn't mean you're being a good Christian. I know a lot of wealthy people that are horrible people. Um, but interestingly, the churches, I don't know, are you, are you Christian?

Yeah.

Okay. So, and you're Nigerian?

Okay. Interesting. So, you, you probably have been to churches where their mentality is if you've got money, God's blessing you and they'll clap it.

That's not where I'm from.

I went to an ex-Brethren church as a kid.

A what church?

Ex-Brethren church.

I don't know what that means. That's a different to Pentecostal.

Okay.

Yeah.

They believe if you got money, you're about, you must have trampled over poor people. And the poorer you are, the more that it glistens like a badge of honor. It's like, I have no money, but I just have faith. And, and it's almost celebrated. Poverty celebrated because they're just trusting in God. And then rich, right? So, with churches, there tends to be two types of ways of thinking. There's either, if you got money, it's because God's blessing you and you're, and, and, and it's prosperity. It's a prosperity gospel.

Yeah.

Or it's a poverty gospel. So, for me, as a young person trying to make it in business, it was tough because people would, when I started having a bit of success in property, I, I mean, I actually got booed out my church. I, I, I got kicked out and it was heartbreaking. And there was other churches that would have celebrated me and had me, but I needed to go on a journey myself. And that was when I felt almost the question, would I give it all up? Am I a bad person because I'm making money and I'm earning houses? And that's why I went on my three-year sabbatical to study business and the Bible and money. And I, I had to learn to read and write in ancient Hebrew and Greek. And it was, it was crazy as someone that's not academic, but I was, I loved the subject. And, um, I kind of came to the conclusion that actually being wealthy and having money doesn't mean anything in terms of, there's no correlation between how blessed you are and how kind you are and how humble you are and how much money you have. I know people that are very wealthy and they're the most generous givers and they're super kind. But I also know people that are really generous and givers and they've got nothing. The truth is, money won't change you. It will just reveal who you actually are.

So, if someone said to me, "What's the point in being wealthy and making money?" I would say, number one, because it gives you choices to be more of what you want, to do more of what you care about. If you're a giving person, you can give more if you've got money. So, it amplifies everything that you're about. If you've got no money, you're powerless. You're impotent in a world where we need Christians and not just Christians, but we need people that have got big hearts. We need people that are about unifying people. We need people that are prepared to speak truth that have got money. I, I'm a big believer in that. So,

I like that. I like that. Okay, let's talk about Dubai. Why did you move to Dubai? And were you ever a Dubai hater?

It's funny you say that. I was never a Dubai hater.

Okay.

Because I'm not really a hater, just generally. Okay. But I went to Dubai many times and I never even considered that I would move out. M. But then one day I just thought, you know what, I want to move to a better country because England is rainy and cold and the taxes are high and the government are corrupt. And I just don't want this to be where all my businesses, all my property, all my, I, I need, I, my wife is Zimbabwean, so she's got a passport in Zimbabwe. And I've been told by very influential people in Zimbabwe that anyway, I got no problem there. I can go there. I got no problem there. I can get a passport if I want to get a passport. It's calm and I love Zimbabwe. Um, and I thought I need multiple jurisdictions. I need to see myself as no longer a British citizen. I am a British citizen. I always will be.

Mhm.

God willing. But today changes. Today I am, I'm not going to go super spiritual now and say citizen of heaven. No. Although that might be true on in the world and not of it, but I'm a global citizen. For all business intents and purposes, I'm a global citizen and I will go where I'm treated best.

Nomad Capitalist. Do you watch him?

Oh yeah.

Oh yeah. You see it coming out. See, I still learn. I still got mentors. Oh yeah. Oh yeah. 100%.

Nomad Capitalist. Shout out my boy. Right. So, I'll go where I'm treated best. And I, I suddenly thought, hm, maybe Dubai. It's sunny. Yeah, the taxes are good. But they also celebrate success. And I went there. And I saw. I'm going to go just for a month. And I absolutely fell in love with it because I, although I didn't used to be a Dubai hater, I did used to be a Dubai misconceptions.

What is soulless?

Nah, not that. That's dumb when people say that. But what I did used to think, and I even used to tell people this, how arrogant and ignorant of me to literally tell people something that wasn't true based on nothing, just my opinion. Like, I used to say that number one, I used to say that if you're poor in England, you'll be even poorer in Dubai. If you, because people go, "I want to go to Dubai where there's opportunity." And I used to say, "No, no, no, no. If you go to Dubai, you're going to be wrecked."

I kind of think that's true, though.

I think it's got some truth in it, but how negative and what, what a hateful thing to say. Like, and it's not even true. I know people in Dubai that have gone with nothing and are now millionaires. So, it's like,

True. I know people like that as well.

Mindset is not true, actually.

But the, the, the biggest thing though, which is factually just incorrect, I used to say about Dubai is, I used to say, Dubai is really nice, but that's because I'm, we're in the tourist areas. Yeah, of course it's nice in the Palm Jumeirah. Of course it's nice at the Atlantis Royal Hotel. But if you drive out 10 minutes, 15 minutes, that's when you know what I mean? Like, whereas England is what it is, you know? But actually, that's such nonsense because now, as someone who's a resident of Dubai, you could, I, you can't really go anywhere in Dubai that's not amazing. Like, honestly, I mean, you could drive 10 minutes this way, 10 minutes that way, you can go to the market. I mean, obviously, yeah, there's better and worse areas, but as a city, it is so clean and wonderful and the buildings. And I, I've driven hours and hours. I, I've driven all around different, um, different cities within the UAE and different places and it's just incredible. And honestly, being a resident of Dubai is the best thing I ever did. It is absolutely fabulous. And it's so funny when people say, "Oh, you're paid by the government because you're always talking good about Dubai." No, no, no. I'm talking good about Dubai because Dubai is great. I'm speaking good about the UAE authorities because for the first time, I actually respect the government. And people from the UK, they're so used to being in the UK where the government are terrible. When they hear someone talking good about the government, they think, "Oh, you must be saying it because you're scared or you're being paid." No, they really care about their people. In Dubai, you know what year it is in Dubai this year? You know the theme of the year?

No. What's the theme?

Oh, okay. Because you not got kids yet, right? So, it's Family Year. So, the government of Dubai have sent this year's Family Year. All about families. And you'll see it. I see, I got kids, so I, I see it. But it's like, you go and you see them making, they're making a real effort with families at the moment. And then you're in the UK and we have what? Oh, this month is Gay Month.

Okay.

I thought you were going to say like, "Stole your phone month" or something.

No, no, no, no, no. It's like, okay, so that, I mean, listen, Gay Month. Okay. You, I love gay people. Gay Pride Month. Okay. So, we got a month for gay pride. Okay. Fine. Right. Fine. But in Dubai, Dubai is about building families. Dubai is about supporting, celebrating businesses. England is not. England has become, uh, degenerate and it has become, uh, anti-family.

I've heard people say that a lot. What does that mean when you guys say anti-family?

Okay. So, a family unit, man, woman have children, stay together. M. In England now, you say, "Oh, I'm, marrying, I'm a man and I'm marrying a man." Congratulations. That's wonderful. Wow. Couldn't be a over-the-top celebration of. Okay, fine. Now, listen. Not saying I'm anti. I've got loads of people that work with my company that that are gay. That's great. No problem at all. And what you do in your private life is what you do in your private life. Fantastic. I'm a liberal person. I'm very liberal. No problem. But you say in England, I'm getting divorced. Congratulations. What the [ __ ] is wrong with you? What is congratulations for having a family breakdown? Congratulations that I got kids that are now going to have to grow up with two families in a dysfunctional family? Congratulations. Are you messed up in the head? Why are we celebrating things that are degenerate and wrong and and and anti-family in England? And people will be upset at me saying this. Oh, that's so offensive. That's controversial. Sorry. I'm pro-family. I'm pro-family. I'm pro having a peaceful life. I'm pro business. I'm pro success.

But England isn't. In, in Dubai, we have garages with glass doors with Ferraris and G Wagons and Bentleys on show for people to see and admire. That's why we have the glass garage doors. In the UK, if you had the same glass garage door, within a week, it will be smashed because people would, people would be like, "Oh, what the hell, man? You showing off. Smash that. Bring that down." Tall poppy syndrome. Cut the head off the successful person. You say I'm controversial. Am I? I mean, we can let the viewers decide. Maybe I am. I don't think I'm controversial. I think I'm just pro-success, pro-family, pro-having a prosperity, pro-charity. I, I, I don't know what's controversial. I think that the, the normal, the normal-minded Brit is so far.

Three days ago, I decided to go to the streets of London and find a stranger. You talking about deal selling? Find a deal, find an investor, sell the deal, make some money. I thought, I'm so good at that now. I'm so good. I'm going to go to the streets of London. I'm going to find someone struggling. I'm going to say to them, "Hey, I'm a multi-millionaire. Let's spend a day together. Let me teach you everything I know, and let me help you find a good property deal, package it, and sell it to an investor. Let's make £5,000 today on the spot and you can keep all the money." I decided to do that. So, I went to London. Stop the first person. "Hey, I want to make £5,000 today with you. Are you free?" "What? Sounds like some scam."

A homeless person?

No, not a homeless person.

Person. Okay.

Then there's this next guy. "Oh, it sounds like a pyramid scheme." It's not a pyramid scheme. Give me a few hours. I made a lot of money. What are you doing today? Nothing. Well, let's spend a bit of time together. The opposition that I was getting from just trying to share what I know and actually help them. They would have made 5k in the end. I was like, you know what? Forget it. I'm going to do it myself. I did it myself. Found a deal, sold it, made 5,000, bought my Mrs. a handbag. Oh, and that's now controversial because I spent a lot of money. Like, what is wrong with people? People are messed up and poor and deserve to be poor and deserve to have broken families because they celebrate it when other people have broken families and celebrate divorce. How can you celebrate divorce and celebrate degeneracy and celebrate poverty and and and and curse people that are wealthy and then want to be wealthy yourself? It will never happen until you learn to change your mindset and actually celebrate success. You will never taste success yourself.

I, I can agree with that part. Um, what do you think about the Dubai property market?

Well, I'm invested in Dubai.

Um,

I think that Dubai is obviously right this second, as we speak, it's being attacked. Well, kind of. The US embassies are being attacked and the US are being attacked. But Dubai have annoyingly got wrapped up, even though they are completely neutral and they've been absolutely incredible about it. So, right this second, I think a lot of people are going to be very wary to buy in in the UAE because of what's going on. But those that are patient and those that are long-minded, I'm very confident that the UAE government are going to come back stronger than ever. They're going to build back because they are absolute winners. And also, they have proven, because Dubai has never been, I know there's been a few very small minor things, but it's never been attacked or had missiles like this ever before, right? As far as.

Yeah, no, it hasn't.

But the fact that nearly every single missile has been intercepted and I saw it happen is absolutely incredible. And it shows that because, and, and people that are saying, "Oh, it's not actually." What is wrong with you? I don't get those. But those are the people I'm talking about when I'm getting annoyed at the minute. That's the mentality. It's this British way of thinking, which is just, it's, it's sick, actually. It's sick. It's the same as celebrating divorce. It's sick. Right. So, I think what's going to happen is the, the UAE, in my mind, to this, to this day, at the time of filming, where are we now? We're like, uh, middle of March kind of time. All right. So, at the time of filming, I think that to me, the UAE have shown that they are a government to be trusted, to be respected, to not be messed with. They are peacemakers. They have not attacked Iran or they are neutral, but they have shown that they have an incredible defense military. And it's a, it's a country that I am extremely proud to be a resident of. And I think that the market is going to bounce back. Back. And I don't know how much it's affected property prices this second because I, I've heard some people saying, "Oh, they've dropped by 20%." I don't know if they've dropped or if they haven't, but I will continue investing in Dubai. And I'm glad that I invested. And I think that, um, it's going to bounce back big. And I know. And also, all the people said, "Oh, Dubai's soulless, it's got no history." It's got history now. Yeah. Look at the stuff that happened in England, right? In England, we, we've been, look at World War II. We've been bombed. What happened? It was bad, but then what happened? The property market boomed. I think it's really sad what's going on. It makes me so sad and I feel really bad. My heart breaks for even for the UAE government because they have done such a good job.

The whole GCC have put in so much work for like marketing and like changing the perception of the Middle East as like this conflict-ridden place.

Well, you know what? We are, we are, I see myself as a raving fan of UAE. And I see myself almost as a customer of the UAE. They treat you, they treat their residents and tourists and like customers, like a business would. UK don't. The UK do not treat their people like customers. You do not feel like a happy camper, a happy customer, a raving fan in the UK. You feel like you're being tolerated, even as someone who's, uh, making millions and millions of pounds and paying millions and millions every year in taxes. What is it? Is there, um, any thanks? Is there any pat on the back? No. Instead, there's banks being closed, investigations, hit pieces by a government-backed media. I got attacked by the BBC. I don't, did you know this?

Mhm.

The BBC did a whole documentary about me. Questioning everything with innuendos and trying, trying to attack me. This was like six years ago now. But it's like, okay. And that's, that's, that's the government. That's, that's the nation's voice. M. And then, and then people, and then, and then people say to me, "Samuel, why do you shout on TikTok and Instagram?" I shout because I, unlike universities, I don't have a government megaphone behind me. I'm just me. I'm, I'm a, I'm a lone ranger in, in a, in a, in a failing country with brainwashed people. I'm by myself. Certainly when I started. I'm a bit quieter now. So that's why.

What quieter?

Yeah.

Of course I am. You earlier I was giving the most balanced, nuanced answers about tax and speak to professional.

Okay. Before you would have went, before I would have been more black and white. Before would have been more, um, yeah, I had to be loud to get people's attention. Now, now I have people's attention.

You think you used to do that? I used to be like, "Yo, this guy is crazy." You used to upload on YouTube like every day. Do you still do that?

Uh, I do two, three times a week now, but I upload on social media every day. Yeah.

YouTube me, social media every day is doable, but YouTube every day. I was like, this guy is a machine. Were you actually waking up every day and like recording content or would you like, was there a strategy like bulking? How were you doing that?

It's a great question. What I was doing is I wouldn't be putting stuff up like this every day. I wouldn't sit down and film a video, but what I would do instead was I was having conversations every day, right? You have conversations every day. I, I had a videographer that would just literally follow me around and film me. So, while I was just doing my everyday business, it was content. It was content. And, uh, that was a lot. If you actually watch back those videos, a lot of it was just watching me having everyday conversations. Uh, and then also another thing I do is every time I would get a call from one of my students or mentees and they would say to me, "Oh, I got a question about property." And they'd ask me, you know, "How do I work out the GDV on on this property, the the end value on the property?" And I would answer them. But then what I would do is I would answer them and then I think that was such a good answer. And then I would film, "Hey guys, let me tell you how to work out the off the cuff." So, I would do a lot of my videos as well, just done on my phone. Um,

So yeah, that's kind of how I grew my thing. So, kind of just pretty organic.

>> I love it. This has been a funny conversation. I think really useful stuff that you've shared. Very, very passionate about the things you care about, aren't you?

>> I love it. I love it. I love it. It's I find it funny. People I know people in the world are going to be like, "Why are you laughing?" It's just funny to me when people are like this. It just makes me laugh.

In the last year, we grew by over 100,000 subscribers because so many of you chose to support the channel by just clicking subscribe. This year, we want to grow even more. So if you are a regular watcher of this channel, please do subscribe and check out the building wealth without border store for resources to help you build real wealth.

Okay, so we're going to be moving on to the wealth voice segment and this is basically where one of the listeners sends in a dilemma. But this one I actually got from the comment section of one of the reals that went viral which was about trust funds. Okay, so I'm going to read it to you and you let me know what you think.

So this person says, "I'm in an age gap relationship. My husband said if anything happened to him since he is much older, I can't remarry because he won't be having another man take his wealth from me. It's definitely in a trust. I thought he was over the top, but I get it now. He's an investor and comes from a wealthy family. He told me I wouldn't need to get married again because I already experienced the best love." So that's if he died, she wouldn't need to get married again, he said. What do you What do you think about that?

I think that the guy is selfish and a control freak.

>> And as an investor myself, like I've obviously had to think about these things. So, I've got different funds and different things and and whatever. But the way a man should think about his woman is if I die, I just want her to be super happy. And if she's what you want her to be single forever when you die. I mean, that that sounds messed up to me.

>> So, >> if I die tomorrow, >> Yeah. >> my wife is 33 years old. for 34. I would want her to find love again.

>> And it's not all about money. When when he says >> you don't need money cuz I got all this money. Having a spouse is not just about money. There's more to it than that. Being a protector of your household as a man is not just about money. It's also about love. It's about protection. It's about being there. So, nah, I'm not I'm not with it.

>> Not with it.

>> So, let's say for example, >> your your wife, God forbid, >> maybe not Samuel. Let's say Samuelina passes away. Your wife takes all of your wealth.

>> Yeah.

>> And then she finds Jake.

>> Yeah.

>> And then she splits your or they get married and then your wealth is split with Jake.

>> Yeah.

>> Are you happy with that?

>> It's it's not even a question that went into my head when I >> when I set up my stuff because >> Yeah, of course. What you want? you want your wife who's 37 years old now to have lots of money, but I I'm just not on board with it with the thinking.

>> What if in the event that then your wife and Jake break up and then Jake is now has the ability to take that wealth that you built from your wife for one reason or another. Maybe he was more savvy, maybe he I don't know. Or even if he just takes half of what you have built, would you be happy with that?

I would like to think that certainly my wife has got the wisdom to marry well >> and to not to to to have the eyes to see the people that were coming for the money.

>> And you just got to trust you just got to trust your wife >> trying to be a control freak about everything like that.

>> I'm not I'm not I mean for your kids I get it cuz they're they're like young and setting things up for them maybe. But for your wife especially if I mean in that situation it might be a bit different because maybe he made all the money and then he's just met this young girl. Yeah. So maybe, but from from the way I'm looking at it, I'm just not really about it.

>> Yeah. Not really about it. So what do you think about PE? So one of our previous guests was saying that like when she has children, like basically the wealth that she's built and she's put it in within a she wants to put it within a trust or she's put it within a trust and basically it can only flow within her lineage. So it can go to her grandchildren, but it's not going to be able to go to the spouse of one of her kids. Would you agree with that?

>> I think that's fine. I think it's fine. What I would say is though, >> setting up a trust is complicated and hard and expensive and then you've also got I don't know if do you know much about trusts and things?

>> I don't actually.

>> Okay. Because I'm actually like quite I know quite a bit about it.

>> Yeah.

>> And it's expensive to set up and also there's like you pay 6% every 10 years you pay 6% on the total wealth of your wealth pot. So it it's one of those things that people rush to do it. Oh, I'm going to set up a trust because it's going to be tax efficient and but actually unless you've got very serious wealth, I'd probably say leave it. A lot of people as well do things like, you know, they try and save on inheritance tax and they start gifting their kids. They give they they'll gift their kid their house. I think it's one of the most dumb things you can do.

>> Why?

>> Because firstly, if you've got a house and you think, "Oh, I'm going to save on heritage tax. I'm going to gift it to my kid." M >> unless you literally move out of the house, if you stay in the house, HMRC will just go, "No, you didn't really, you were just trying to get around inheritance tax and they'll just charge you anyway."

>> Unless you pay rent to your kid.

>> Um, also, you don't pay inheritance tax above quite a big threshold anyway. I think it's about, it depends on the situation, but at least half a million pounds or so, especially if you're married, there's no inheritance tax anyway. So, a lot of people that are like obsessing over how to save on taxes, how to save on inheritance tax. It's like, yeah, but what's your net worth?

>> How much is your house worth? Oh, it's worth 400 grand and you got a 200 grand mortgage. That's 200 grand. You're not leaving. You're not paying any tax anyway. Relax. People get so it's like a hoarding mentality when you need to be in an abundant mentality rather than being so obsessed with I don't want to pay any money. I'll gift it to my kids and that way I'll get around it. And also, if you die within seven years, you you're gonna have to pay anyway. So, I just think people need to get out of that poverty mindset and think more about actually, I'm just going to I'm just going to create a lot of money. I can worry about that stuff when I got eight figures in the bank. M but I think it's more like with the even if it's like if they've got 400k for example or even 200k for some people the effort it would have take it would have it would have cost them to get to that 200k it's like I don't want any of this not going to

>> the first thing you need to do is understand 300 400 grand is nothing

>> it is absolute peanuts if it's taken you 20 years to build it you you need to think differently and do something differently and the effort to set it up in some fund where you're going to avoid tax is not worth it.

>> You have to make a lot more money.

>> What would you what would you say is a threshold to start thinking about having a trust?

>> I would say start with to start thinking about start thinking about moving UK and having things offshore

>> because that's what I've had to think about recently. UK leaving the UK getting a residency somewhere else for tax reasons. I think you need to be making a million pounds a million pounds profit a year

>> before even thinking about it

>> because I know people that go I'm moving to Dubai because for tax reasons and I say how much are you making though? What's your profit right now? Oh, I've got a business that makes 300 grand.

>> So why are you why why don't you just do things that you can do which are HMRC approved? Like for instance, people think about a trust set up a SAS fund.

>> What's a SAS fund?

>> A SAS fund. A small self-administered scheme. Anyone can set one up even if you're 18. A SAS fund. Now, that's smart.

>> So that way, what you can do is you can put all of your profits. Now, there's there's a max threshold. That's why I say when you get above a million pounds, suddenly there's only so much you can do. But you can put money into your SAS fund completely taxree, tax deductible, and then you can invest in commercial property and all the profits that you make stays in the SAS fund and it's completely taxree.

>> What's the catch with that?

>> The catch with it is you can't take it out and spend it until you're 55.

>> H. So it's it's a pension.

>> Yeah. Interesting. I never heard that before.

>> Self funded pension.

>> Is it open to everyone?

>> It's open to everybody. Yeah. If you're 18, you can have it now. That's smart.

>> But a trust is complicated. Foundation might be better. I also have a a foundation. So it's a bit like this is in Dubai. I have this set up. It's a bit like a trust, but it will cost you maybe 10 15 grand to set up as opposed to well, I don't want to say how much I've spent on

>> some of the some of the stuff is just mad. I'm, as you know, I'm studying this in in um at law school right now as well. But I think a SAS is probably the best way to go if you're paying a bit too much tax and you want to invest in property and you want to do it in such a way whereby you're not getting penalized and you want to store money away for your kids,

>> SAS fund. And if you die, your SAS fund will go to your wife or your kids taxree.

>> Okay.

>> Depending on the age. I think the age is if you die before you're 75, it's completely taxree.

>> Never heard of that. Super super interesting. Definitely be checking that out. Do you have any particular stipulations on the trust funds that you're setting up? Like let's say for example, your kids have to go to maybe university before taking something out. Do you have any like things like that?

>> Yeah. Um, my kids can do whatever they want.

>> And again, a lot of, like I said, that guy sounds like a control freak.

>> Um, I I speak to so many business people that are making money and they >> they try and force their kids to do this, that, the other or they want them to be mini them.

>> Uh, I'm not about that. I mean, I I had that to me. My dad forced me to sell on the markets and go and work for him and I didn't enjoy it. And there's nothing worse than being as a kid being told you have to do this, this, this, and you have to. I don't like that. So, no, my kids will free to do whatever they want. I do believe that they'll all be self-made millionaires because

>> again, rather than obsessing what you leave to your kids, I think it's better to obsess over what you leave in them.

>> So, for me, I'm more about training them up. That's like what I said about my wife earlier. I'd like to think that my wife has got the wisdom if I died to not go and marry some douchebag who took half of all the assets that I've basically built. I trust my wife, I don't need to set up a a clever scheme whereby she can't do that and my kids. So, now I'm pretty relaxed.

>> That's interesting. I I love that you have that outlook. Um, but have you heard of the third generation curse?

>> Yes.

>> Or that idea that like wealth is lost after three generations?

>> Yeah, it is. It's it's very true. Strong uh sorry uh tough times create strong people.

>> Strong pre people create good times.

>> Good times create weak people. That's what you're talking about.

>> Yes. Exactly. So do you not worry about that?

>> Um not really. No. Because as a dad and as a father of four, what are you supposed to do? I had a tough life. I got stabbed as a kid.

>> I've been beaten many times. I had nothing. I lived in a very rough area um near Dudley. You know about Dudley now in Warsaw.

>> As a res am I successful because I had a tough life?

>> You might be.

>> You don't think so?

>> No.

>> You don't think that it level of resilience in you?

>> No.

>> Okay. Tell me. So, what do you think made you successful then? I I mean I had a a very tough I have had a very tough life and I've got through it and I've come out the other side and made a lot of money and have a beautiful wife and four kids. I don't believe that I've done that because of the tough times. I think I've done it in spite of the tough times.

>> Okay.

>> So look how many people have had tough lives.

>> Everybody I went to school with

>> pretty much true

>> who also had a tough life. who also got stabbed, what they doing? Nothing.

>> Nothing. They're all losers. All the people in my community, what they doing? What about the other people that got beaten? Why aren't they all millionaires?

>> It's because it's nonsense. If you look at most people that are self-made millionaires, if you look at the people that have built things and and they've done super well and they're thriving, they had parents that loved them, that believed in them, that were their cheerleaders. They weren't all abused. M

>> we hear about those few stories because it's like the rags to riches. It's it sells movies.

>> But actually in reality as a father my job is not to give my kids a really tough time and manufacture it. How can I manufacture a tough life for my kids when I'm when I I used to send my kids on economy? I'd fly I'd fly on a plane. I'd go first, they'd go economy. And I and I did that because I wanted to give them a tough life. Now they need to know what it's like. When I flew private last week, I'm like, how can I get how can I how can I get my kids on economy? I'm flying private.

>> How can you How can you give your kids a tough life when you when your life is luxury?

>> If I'm on a mansion, a beachfront mansion and a 20 million pound house, which is where I live,

>> how can I give my kids a tough life? Are they going are they going to sleep in the maid's room? Are they going to like do you understand what I'm saying?

>> No, I agree with you. I think manufacturing

>> is dumb.

>> Yeah. Manufacturing pain and struggle is is not the point. Um, and I don't know. I mean, I don't have kids. So, I I I find

>> you. Here's how you manufacture pain.

>> Make them go to the gym. Make them box. Make them learn a martial art. Give them discipline. that way, not oh, I'm going to give him a to. So, so the whole generational curse, I think the best way that you can, all you can do is do your best job deliberately as a parent to raise them good and believe in them and be their cheerleader. And then pray

>> and leave them money. Yes, of course, if you can, if you're able to do so. Yeah, make sure it's tax efficient. Don't stress about trusts and foundations if you ain't worth at least 10 million

>> because it's dumb.

>> Think so.

>> I know. So,

>> if if if you've got 800 grand to your name and you're trying to and you're thinking and you're spending hours and hours thinking about setting up some clever scheme, it's dumb. It's going to cost you tens and tens of thousands of pounds in consultancy fees

>> for a start. People that win are the lawyers.

>> So, I'm sorry to break it to you guys watching YouTube videos about how to set up trusts. And there are things that you should do though, like SAS fund. That's that's that but that's pennies to set up.

>> Any other things that you think if someone hasn't crossed the threshold threshold yet that would be good for them to set up?

>> If you haven't crossed the threshold, there's loads of things you can do. Absolutely loads. For a start, knowing what you can claim back against your tax bill and what you can't. M

>> some people spend money on stuff and they pay themsel and they don't claim it as a taxdeductible expense

>> because they didn't know they could.

>> So mixed use property I bought a property recently which had one you know you know in like London where you can get those shops above flats. Yeah

>> that's mixed juice.

>> Yeah.

>> If you buy a property that's mixed use you pay stamp duty commercial rates which is way cheaper.

>> So understanding and a lot of sisters won't tell you. I've bought properties where sisters tried to charge me stamp duty. going m when I bought my castle, which is a complete disaster, but that's another story. My solister tried to charge me around 81,000 in stamp duty

>> and I got it down to 8 grand.

>> What percentage was £81,000?

>> About 10%.

>> And I got it down to eight, which is about 1%. So knowing the game, knowing how you know is good, but and again even taxes, focus on how to make money

>> and then when you start making money, all right, fine. Now, how do I pay as little tax as possible? And then when you start making a million pounds a year, then you start doing things overseas.

>> Then you start getting in fact, if you know your business is going to blow up, you should probably start thinking about that a little bit now, but just not spending loads of money in consultancy fees. I'd rather write. Do you know how much money I spent last year on lawyers? I spent over a million pounds last year on lawyers. If you're newish to the to business and newish to the game, they all charge you so much money.

>> You're better off if you got a few hundred,000 to waste on consultancy fees. Whack it into a property in Dubai. Get a golden visa.

>> That's a little exit strategy then. So then if things get too much and you begin to get too successful with the UK, whoop, slip out bank. Get your bank account set up overseas. That's what I would advise as well. If you're if you're Do you know how messed up the UK is in terms of how shocked the system are? I used to be a banker.

>> Yeah. Do you know how shocked the banks are when you start actually making money? They're like, "What the heck? Where's this come from?" And and treated like a criminal.

>> You know how many banks have like literally treated me like a criminal just because I'm making money, calling me in for meetings?

>> I just had it actually with a bank where um I had to set up a new bank cuz my bank got closed down. That's what happens continually in the UK. Banks just close you down. Close you down. Close you down. I don't know why. Is it because they don't like me? Is it because they just that I'm making lots of money? Like what? They don't tell you either.

>> You got 30 days to close down your account. Oh, why is that then? We can't tell you.

>> That's messed up. So, having different banks in different countries is smart.

>> I like that. That's very on brand for the podcast. All right.

>> Is it wealth with That's why I wanted to come on the podcast. See, I asked you to come on this podcast. You didn't ask me.

>> I I asked you because I liked the name. I saw the name Building Wealth Without Borders. I'm like, damn, I could write a book with that title. That's a good name for a podcast. Let me get on that show.

>> Okay, let's move on to the quickfire money question. So, three questions um that we used to round up for every guest. The first question is, what is the best investment you've ever made?

>> In myself.

>> You're not allowed to say that. If I said you can't say that, what would you say?

>> I would say in probably the petrol money.

>> Petrol money. petrol money

>> that I put in my car to go take my wife on on the first date we ever had.

>> She's the best investment.

>> Oh,

>> she's the biggest asset, the best investment. Without her, everything stops.

>> Why is that? Why would you say that?

>> Because she just is my rock and my sounding board, my council, my superhero behind the scenes, my cheerleader. She manages the entire portfolio. But we are a team and helped me build everything pretty much from the ground up.

>> That's so interesting. We've been married 11 years now.

>> Those are the two most popular answers actually.

>> Oh, now you're making me look boring.

>> But I mean, it is what it is. People usually say myself they're partners. I'll change it then. I'll change the answer. I would say that first property that I ever bought because that first property that I ever bought gave me confidence, gave me self-esteem, and showed me the system and showed me that this does work. And I was doubting myself. And I was only three, four months in when I got that property. And after three months in, I'm like, "Oh, I still haven't got a property. Maybe I should quit. Looking back, it was stupid. Looking back, I'm like, what? I want to quit 3 months in. Are you joking? But I think if I hadn't have had a bit of success, if I hadn't got that deal, got the keys to that property. When I did, probably would have quit because I didn't have the the the longmindedness. I couldn't read the future at the time. I wasn't thinking

>> if I'd have known what was going to happen. That's the thing. I'll say this. If you knew you were going to build a massive portfolio, it would be really different, the best life ever. You wouldn't quit two months in because no, I know what I'm building. If if I said to you, oh, um, I've got a check for£10 million. It's located in Mexico. Here's the address. Go get it. You take that journey because you know what's on the other side.

>> And I think you have to live your life like that knowing I'm going to succeed because I'm following the process and it's going to happen. Might take a long time, but it's going to happen. But that first property gave me that confidence that this is happening. So that was my best investment.

>> I love that. Second question is, what is the biggest money mistake you've ever made?

>> The biggest money m I've ever stayed, believe it or not, is not buying the castle that lost me 3.5 million. It's the deals that I didn't buy.

>> That looking back, I'm like, I should have bought that.

>> Give an example.

>> Okay. Um, when I took on my Cambridge Hotel, which is one of the best money makers ever, there was actually two hotels >> that came my way. And one was Willingham House, Cambridge here, which is one of my hotels now. And then there was another one.

>> But I thought, I don't want to take on two at the same time because maybe it's a bit much. But that was dumb because they were purchase option agreements. I could have walked away anyway. So I took on the one. That one

>> now makes me a lot of money. And now I think, oh man, I should have I should have got the other one, too. So the deals that I didn't do because I was just a bit cowardice. Now I think actually my biggest mistakes which is why the castle even though I've lost a lot of money it's a tax shot off it's fine I'm not kicking myself because you got to look at you got to look at everything like you've got without any risk there's no reward and everyone wants let me tell you something interesting

>> I know quite a lot of billionaires I've got a mentor who's a billionaire with him last week billionaires literally have risked millions to become billionaires millions and millionaires have invested hundreds of thousands to become millionaires But broke people want to invest nothing nothing and they want to get rich. That's not the real world.

>> I can agree. I actually wrote a newsletter about that. That's one of the lessons that I've learned from being around, you know, a lot of people who are way more successful than me is that they talk about losing money like it's like nothing.

>> Yeah, you have to think of it. I lost 3.5 million. You laughed. I laughed too. We laugh together.

>> Okay, cool. Um and then uh so that was makes sense. What is one piece of advice you'd give to someone who is trying to build wealth and also someone who's trying to build wealth globally?

>> I would say building wealth without borders.

>> Um to me what that means is partly maybe globally but also without limits

>> without thinking big.

>> However, it's really important that you start small.

>> So I would say someone that wants to go global and someone that wants to build wealth without borders. Yes.

>> Dream big. Yes. But let's do a deal this year, shall we?

>> And let's do it maybe in an area that you know,

>> let's start with something because when you get something, the confidence that will give you the self-esteem,

>> the assurance that what you're doing is cuz when you start out, all your friends and family are going to tell you, be careful, be careful what when you get that first deal,

>> they're going to start, okay? And then and before you know it, they'll be saying, can I take you out for coffee to pick your brain?

>> That's what happens. So So, so that's what I would Start start locally.

>> Start locally in an area that you know probably probably yeah or at least if you want to start in Dubai fine but go visit.

>> Don't just because you do um a bit of Have you got a real estate license in Dubai?

>> Uh I don't have a license. I'm partnered with a brokerage property.

>> So someone's like I want to do Dubai. Cool. Great. Do it. But go there first

>> and and and go and figure it out and talk to some people and find someone like yourself that that is a resident that knows the area. So I wouldn't necessarily say always as a rule start at home. But I would say start small. So start with one.

>> See the money coming in and then you and also you'll learn so much from that first deal. Take all the lessons, all the mistakes, everything that you learned into your next deal.

>> Well, that was a very very good conversation. I'm actually happy that you decided to well that I that you asked to come on the podcast and I said yes because I think that that was a good conversation. I learned a lot. I think your perspective on wealth is is interesting.

>> Why is it interesting?

>> I think what you said about the foundations, the trust. I think it's important. I in general, I guess with this podcast, the whole idea is just to hear from people who have built wealth in different ways with different mindsets because they bring something different to the table. So, as you're watching this, like as the the audience is watching this, it's not to take what one person says and then just run with it. you're taking bits from like okay this is how this person is thinking about this okay cool and then this is what this person and then you sort of put the pieces together yourself um so I think it's very very it's very it's very it's very helpful it's useful useful

>> right well it was a pleasure to come on

>> yeah so if the people wanted to find you etc where do they go

>> they just check search my name on uh YouTube or something and watch some watch some content and if it resonates and if it can help you then amazing hope to see you in the street shake your hand

>> see you in the street

>> yeah see you out. That's what happen. People see me and they come up to me and say like, "Oh man, I watched a video or whatever." That's that's like that's my currency.

>> Okay. Thank you, Samuel. Thanks.