Property Investor Profile
Director of Modus Property & Property Investment Heavyweight
As a former British Military Officer Nick is used to getting stuck in, finding solutions to difficult problems, and managing projects from concept to completion.
On retiring from the military Nick had a thirst to find his next adventure and challenge. Reading the book Rich Dad Poor Dad by Robert Kiyosaki and Sharon Lechter, Nicks interest in property was tweaked. Rich Dad Poor Dad emphasises “the importance of financial literacy, financial independence and building wealth through investing in assets.”
Driven to create his own property portfolio by utilising a small amount of savings, in 2008 Nick began his journey into property. Since then he has never looked back.
Existing property portfolio of over 50 properties
Properties in current portfolio worth in excess of £3 million
Investments geanrating on average a 16% return
Expert area knowledge of Yorkshire & Oxfordshire
Specialist Investment Skills & Knowledge
- Property purchase negotiation
- Construction & property renovation
- Creative deal structure
- Raising finance
Nick’s First Investment Property
|Property Type||2-Bedroom mid-terrace|
What refurbishment work was required?
“Safe to say when I purchased the property it was not in a lettable state. To start with it needed completely rewiring and a new central heating system putting in. Once this was done we installed a new bathroom, kitchen, carpets and painted and decorated throughout. It was messy and dusty work but seeing the finished result made it all worthwhile.”
What was the end result?
“Conveniently, once the work was completed, I ended up letting the property out to a family member, so I was instantly generating some income. I had the property revalued at £65,000 and took out a mortgage of £48,750. This allowed me to continue to build my portfolio and start my next project.”
Quick Fire Questions
What do you like most about property investment?
“The sustainable rental income and ability to offer good people, good places to live.”
What do you like least about property investment?
“The thing I least is all the hidden costs and antiquated purchase process. When you are starting out this something that can really catch you off-guard.”
What has been the most important thing you have learnt on your property investment journey?
“Property is about people. You will quickly realise that having awesome team around you that you can trust is key to your future success.”
What would you say to someone looking to get into property investment?
“Time heals. If a deal goes wrong the best time to buy property is now. If you can jump back in and learn from your mistakes, do it!”