Transcription
Being a nurse is tough. Long hours, constant pressure. I discovered a side hustle that completely changed my life. I've started a property business that making 10 grand a month and I don't even own a house. Watch this video to find out how I do it.
So, we are in Bamburgh, five bedroom house and I've been running it as a service accommodation for the last couple of years now. Perfect for contractors. This is the living room. We've got TV here. This is the dining room. This is a kitchen.
Looking back a couple of years ago, I spent so much time doing some bits and bobs here. I was working in the NHS and I was coming back from a night shift, coming to here straight, doing some works for the next 5 hours or so and then go home, sleep about 2 hours and then go back again to work. So, it taught me a lot of learnings in this property and uh looking back, I'm grateful that I did it. I took the risk and [music] now it's giving me good cash flow.
This property, I pay him rent. I pay the bills. We list them on Airbnb, booking.com. Don't forget about comfy workers cuz they're like a big market and after paying all those expenses, whatever's left is to my company. So, for the last 6 months, I've been turning over 5 grand a month. The rent is 1.5, council tax, water, electricity, Wi-Fi is about 500, 600. So, take that off. I've been receiving 2.5 grand for the last 6 months for this property.
Okay, let me open the French doors. Okay, let us keep it closed. >> Yeah, all right. >> Okay, I'll keep it closed. >> [music] >> This is outside garden.
When I took on this property, it's kind of like a BRR. You know, you have to put money in and then renovate it and make it better. So, I spent 10 grand immediately because I knew this is going to work because I had to make it work. And I knew it was a contractor's market. So, 2 weeks after it's been done, contractors came and they stayed 1 month and then they kept extending and then got all my investment in 4 months.
So, this is the biggest bedroom. This can be split. So, one single, one single. So, two person in one bedroom. >> I got bored doing nursing. I've tried many things like selling some stuffs, doing YouTube and all these things, but I didn't like it. Samuel Leeds came across and uh of course I did like the one pound course and from that one pound course I did take the leap and Property Academy membership. I told myself that if you want something, you have to act now and do what it takes. And now I'm doing something else and this is what makes me more money than nursing.
So, this is another bedroom. It's a very quirky color combination of black, brown, yellow. It was my first thing and I was like experimenting with colors. I haven't had any complaints from contractors, so we're all good. Having this service accommodation business has helped me a lot in terms of financially because I used to work full-time in nursing 7 nights, 5 nights back-to-back. Now, I couldn't even bear doing 3 nights in a row. Now, I have more time for myself, for my family and I feel more comfortable now than ever. If you have the right mindset to keep [music] going, to search for more, to be more creative in this business, there's no way you ever go back to where you were. You've already passed that and you've The mindset is now changed. >> [music] >>
When I first joined the academy, I didn't use my own money. I raised it from my friend and I said, "Pay for me and I'll pay for it when I get my first deal." After 11 months of having no deal, it was like, "Okay, where's the first deal going? Come on. You have to pay me back." Managed to pay him back after second second my deal is when I started to make money. Yeah, I'm so grateful to have him at that time of my starting point of the property. >> [music] >>
I have one close friend in the academy who is also my business partner. We have created a company, a management company. We manage other people's properties. This property on Airbnb as a short stay and we take percentage of 12%. We focus on long-term stays, basically, and we visit the property if it's suitable. So, not not all properties are suitable to our standards. [music]
This property is a three-bed property in the heart of Ambury. Going to the garden, let's just open the the gate. Sorry. There you go. So, >> [laughter] >> this is the property. Purchase price is 188,000 pounds from the auction. Legals is 20K. So, all-in 208 plus referral of 20K. So, all-in it's about 230K. This property we are selling it now for 260. We'll be able to make about 20 to 25K.
So, this is the kitchen. It was totally wrecked when we bought it. This unit cost us about 5 grand including the labor. Since it was our first time to do a project like this, we kind of like we didn't know any builders at all in the area. I've asked for referrals and that one referral we took on and straight away said, "Yes, can you do it?" And then the finish wasn't good. It wasn't up to our standards. So, we let him finish the works for the kitchen and we find another builder for the bathroom. >> [music] >>
So, the living room was in okay state. It wasn't too bad actually. But then the walls were like we just need to repaint it. So we did have somebody to spray paint it because we thought it was the easiest. It was the most cost effective. But then after first coating, it went horrible. So we came in. We had a look on the painting on the wall upstairs and downstairs. It was like liquidy. It's kind of like runny and we had it's all over and we had to redo it ourselves. So that's one mistake we did and we took longer than expected. [music]
So this bedroom is a smallest bedroom. You can actually put a single or even small double bedrooms. This is the kind of like master bedroom. We changed the windows as well all over the house. >> [music] >>
Buying on the auction actually was to be honest with you, I was kind of like excited. My thing with the first property is to learn from it. And now I've learned earlier. So now I am better on looking on builders, looking on properties, doing my numbers. >> [music] >>
So when I was in month 10 on my academy membership, I was kind of like started to worry. I don't have a deal. I could be the stupidest person that's within the academy. That's what I was thinking at the time. But I didn't think too much of that negativity. I'm more like a positive side. So okay, let's just do what it takes. Regardless how long it takes, I'll do it anyway because I'm committed to it already and I've spent money already. So it has to work and I have to [music] make it work. From 11 months, 12 months, I got my first deal and started snowballing.
So we are in the beautiful town of Woodstock. It's another service accommodation that added on our portfolio. This is a joint venture with one of the academy members. The market in this area is more like a short stay rather than longer stay. But luckily we've secured a longer stay here from May till October. The revenue for this flat will be 3,300. The rent of this one is 1.5. Bills 500. So take that off and we're left with 1,300. So it's [music] a two-bed flat along the high street of Woodstock. I found it through an agent I spoke to a couple of years ago when I was starting, but it didn't happen right then then. It happened after 2 years. We've [music] got one bedroom here which is set up as a king bed. So this is the second bedroom. This is a king bed, but it is split into two singles. So this is a simple living room. So this is a sofa that can be turned into a sofa bed. >> [music] >>
So we had an incident before on one of our properties in Coventry that it was smashed totally wrecked by teenagers. Somebody booked on booking.com for two nights stay for two people. They turned up to be 50 teenagers. They had a party overnight. They made noise. Light bulbs are in the toilet. Side lamps are just everywhere. So basically it was a wrecked place when we got there. So me and my business partner went there and basically kicked them out. And overall we spent about 200 pounds just to make up the property and put it back to a normal state. So the landlord was happy and he's on board on our side. Now we made sure that guests has to be over 18 on that particular property and in that particular area. We are now more strict on deposits so that we are more protected in case things happen like this again. [music]
So my business is making about 5 grand >> [music] >> a month and then we've got this joint venture with my business partner. Got four properties profiting [music] 4K a month and then we've got this management company who profiting about 1K. Total net profit for the whole businesses is about 10K a month. I never thought that I would have come this far and create a a company joint venture with other people and building my own business as well. So it's kind of like humbling to to remember and to know that I've gone so far comparing myself now to like couple of years ago. I've learned so much and I think that's the most important thing.
If Samuel Leeds was here, I would say thank you. He's given me the opportunity to learn about property and something that I've never thought I would learn and make use of in my own benefit. Not just me, but for other people as well, like my family. I took action with a guide of Samuel Leeds and mentorship. I wouldn't even imagine that I'll be here driving with you today and speaking to you. >> [music]