22-year-old credits Property Investors Crash course for transforming his family’s fortunes!
A year ago, Adam Flynn was on a modest wage until he attended the Property Investors Crash Course and his life changed. Now, aged just 22, he is a deal sourcer heading up a unique family property business which is going down a storm with investors. In the past two months alone, Adam and his fellow directors, including his brother, father and uncle, have picked up around £30,000 from deals and the future is looking bright.
Business model with a difference sets Adam apart from other deal sourcers
It was Adam’s twin brother who first introduced him to Property Investors’ founder Samuel Leeds and his YouTube videos. They watched them together and then decided to go along to the crash course to find out more.
Adam had no previous experience in property, apart from when he was younger and his father, who is a builder by trade, had taught him how to fit kitchens and bathrooms. So, the course was an eye-opener to him, he says, because it showed him how he could make money, with a little capital, from the housing market.
At that point, Adam had been working for three years as an insolvency administrator but was looking for a change.
“I’ve always wanted to do something more than the nine to five. I’ve always been quite entrepreneurial,” he explains.
In January 2020, the family property company was incorporated, and two months later Adam became a compliant deal sourcer. Then the global coronavirus pandemic hit, and the UK government imposed a lockdown to stop the spread of the disease. But rather than put the business on hold, Adam and the other directors, including one of his friends, made sure they used their time profitably.
“We were all working from home and had time to build the brand, get a logo and get our social media up and running. We got everything else sorted, so that when we could go to an investors’ group, we would look professional but then be open and transparent and say, look we’re new to the game.
“This is our business model and thankfully we’ve been in touch with investors who’ve given us a chance because we are so open with them. They like the idea of what we’re doing.”
Their business proposition was to offer a complete hands-off service to busy professionals who wanted to invest their spare cash in a property in the north of England.
Adam’s role was to find the deals and negotiate the purchase price, while his father and uncle, who is also a builder, would refurbish the properties and manage the projects.
What set their model apart from others was that they would be teaming up with social housing providers in need of rental accommodation. All the conveyancing would be done by the company and the housing association or council would provide the tenants.
The first step, however, was to find the investors, so Adam, his brother and his friend sent out as many messages as they could to anyone who looked like they had a good job on LinkedIn.
“We messaged everyone under the sun who we thought could be wealthy and asked them if they would be interested in investing in property,” recalls Adam.
Their persistence paid off and they found their first investor. He owned a dental practice in London and wanted to invest in property in the north. Three of his offers had been accepted before the Covid-19 crisis, but then they all fell through.
“He was coming up north and doing it all himself until he found us. He hadn’t heard of the social housing idea. We sold him on it, so he thought he would give us a go.”
The investor was keen to buy a property in the centre of Manchester, but by now prices had soared ridiculously and the market was highly competitive, says Adam. So, he turned his attention to the Wirral and clinched a deal on a buy-to-let.
Since then he has sourced and sold a total of eight deals. Four were buy-to-lets and four HMOs, including three four-bedroom houses and a six-bed property. Their fee for a buy-to-let deal is £2,500 plus VAT and £4,000 plus VAT for an HMO. The project management fee is 10 per cent of the refurbishment cost, with a minimum charge of £1,000. So, for example, if the cost of the renovation is £30,000, the project management fee is £3,000 plus VAT.
“You’re paying for a service,” Adam emphasises. “It’s hands free. The investors don’t have to get involved. The money goes directly into their bank account and we sort everything out. They don’t have to come up north. They don’t even have to see the property.”
The advantages of working with social housing organisations are numerous, he adds. They offer the investor a guaranteed rental income with no voids because the rates are very competitive. They also provide tenant damage cover and pay the utility bills – and there are no management fees, all of which minimises the risks involved. On top of that the returns are far better than the bank’s rate of interest which has hit an all-time low.
“The capital needed to buy an investment property in the north of England is approximately £25,000. We typically achieve net yields of eight per cent plus. If you purchase with a mortgage, you can expect to achieve a return on investment of at least 15 per cent.”
His father and uncle have a 20 per cent stake each in the business as an incentive to complete the job quickly and efficiently.
It is an approach which allows Adam to concentrate on the sourcing. “Hopefully we can get the procedures and processes in place to do 10 houses a month and they’ll be able to cope with it and we’re all making money as a family.”
‘I wouldn’t be in property without the Property Investors Crash Course’
Adam is now a full-time deal sourcer. He left his job at the end of August 2020 and the offer on that all-important first deal was accepted on September 9. Since then the investors have come flooding in.
“We barely go out and find investors now. They come to us through posting on social media and us showing them what we’re doing, and we get referrals as well.
“I had one telephone call with a barrister in London who afterwards voice noted all her barrister friends in the office and they’ve now all got in touch wanting to buy from us.
“I don’t know if she was impressed with me or the concept, or the business model but after one conversation, without even buying from us, she is already recommending us.”
Adam believes having the right mindset is crucial to being successful in property. Coming from a business background has also helped him, he says.
“For a living I worked with businesses that didn’t do well. They were going into liquidation and administration, so I know exactly what not to do and I’ve learnt from their mistakes.”
Despite this, he is adamant he wouldn’t be where is now without the Property Investors Crash Course. “I know Samuel has had a lot of stick from the BBC and stuff but I’m just a normal lad from Bury in Manchester and I can honestly say without coming to that crash course I wouldn’t be in property. I would just be in my job still on a modest wage.”
His day-to-day life has changed considerably. “I’ll wake up and I might not necessarily know what I’m going to do that day. I might do some admin, or I’ll get a call to view a house or have a few calls with investors. You might have weekends where you have to work, so if you do get a bit of free time in the week you don’t feel guilty about going to the gym or doing something you want to do – because you’ve always got to be switched on.”
He prides himself on his relationship with his investors. “They text me and get a response straight away unless I’m doing something in that moment or driving.”
His dedication has reaped handsome rewards already. “With the sourcing company, we’ve made about £20,000 in two months and £10,000 in project management fees.”
To anyone who thinks it’s an easy ride, it’s not,” he says. “I will be working hard for that project management fee because I’ve got to bring in contractors in different areas, but I’m proud of what I’ve achieved so far.”
His father and uncle have the option of downing their tools in two to three years and going into project management full-time which would help them ‘massively.’
Before that, the next step is to bring his brother and ‘mate’ into the business full time. The younger directors may also settle for a passive income in a few years’ time, but not yet, he says.
Adam takes £2,000 net a month out of the business, but all dividends get put into a holding company, which the family has also set up, to invest in property themselves.
“I don’t need any more but my reason for going into property is to have a good life and to have freedom. We may as well work hard while we’re hungry because it’s exciting but when we’re 30 maybe, if we’ve got £1m, we’ll invest that at 20 per cent. That’s a £200,000 passive income for us. We might have that option to never have to work again in our life which I think is what anyone would like.”
- Go to the Property Investors Crash Course to get an idea of all the strategies.
- Don’t do all the strategies at once. Concentrate on one of them at first.
- Find someone who’s doing what you’re doing and just ask them if you can have an hour’s call with them to see what their processes are. You might be able to help them too.
- One thing I would say to my old self is don’t just leave work if you’ve got no company, no compliance or investors. In my last month in work, I had investors pestering me for deals. I’d say give me a month before I’m full time. So, you need to be at that stage before you even think about leaving work in my opinion.
“Adam has really created a unique proposition to investors. I think that’s why he’s winning. Yes, I teach people the process, but he’s taken that and adapted it and made it his own. I really commend him for doing that.
“He could have said I’m 21. I’ve never done this before, and I’ve got no track record. But instead he said I’ve had experience of business in my job and I’m going to flip that into a positive. He focused on what he did have. Then he found investors and delivered well. Now he’s getting lots of referrals and people wanting to buy from him. It’s so inspiring.”
Check out his website out www.afpropertyinvestments.com
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