Contestant on The Eviction becomes financially free through rent-to-rent deals!
If at first you don’t succeed, try, try again. That’s what Endrit Mjeku did after being thrown out of The Eviction 2020. The 21-year-old went away and quickly secured two lucrative rent-to-rent deals which have made him financially free. Now Endrit is looking to extend his portfolio with the knowledge gained from taking part in the Property Investors’ competition and studying Samuel Leeds’ YouTube videos and books.
‘I learnt a lot from the Property Investors challenge’
The memory of being shown the door in The Eviction is still painful to Endrit, even though he has since gone on to become a successful property entrepreneur.
“I was very upset because I genuinely believed I was going to win the competition. I want to win at everything I do,” Endrit recalls.
With such determination, he was never going to let himself be ultimately defeated. He vowed to his mentor Samuel Leeds that one day he would return.“I was evicted in Samuel’s dining room and I remember saying to Samuel, as I was leaving, I’m going to get some deals and be back on Winners on a Wednesday.”
By visualising being interviewed on Samuel’s popular YouTube show, Endrit made it happen just two months later.
He says he has no hard feelings about being ousted from the Apprentice-style property challenge and learnt a lot from it. And the experience wasn’t quite as harsh as it appeared on camera.
“When I walked into the kitchen after being evicted, everyone was clapping for me off camera. That was a good feeling.”
Endrit had already shown his tenacity to get chosen as a contestant by messaging Samuel repeatedly and making numerous social media posts in which he tagged his guru.
This fire in his belly came to the fore again after The Eviction. Endrit took two days off to recover from the intensity of completing the Lease Option Boot Camp as part of the competition. Then he sprang into action and soon hit the jackpot. But his property journey didn’t always follow such a smooth, upward curve.
‘I was working 18 hours a day without success’
Endrit spent his first year in property watching Samuel’s free content on his YouTube channel, reading his books and listening to podcasts. The following year, after absorbing all the theory, he started putting it into practice.
As he describes it, he took ‘massive action,’ working 18 hours a day for a year on sourcing property deals to sell to investors. In one month alone, he built up a list of 200 potential customers and also made more than 10,000 calls to agents to find investment opportunities in the housing market.
“I was literally working whilst eating food. I’m known for my crazy work ethic. I lived with my family. My parents thought I was crazy.”
Despite this gargantuan effort, Endrit failed to sell a single deal, although he made £1,000 from finding two rent-to-rent deals under the guidance of an established sourcer who sold them.
“The problem was I wasn’t closing the deal. I was getting close to the point of closing but I didn’t know how to do it.”
Competing in The Eviction changed his fortunes.
“The Eviction was great. I was used to working hard, but the hours I put in were more effective.”
As a result, Endrit managed to agree a lease option deal. The main difference with his previous way of operating was that he approached landlords directly – something he learnt to do on the Lease Option Boot Camp.
Before that the budding young entrepreneur was constantly rejected by agents, as it was clear from his references that he wasn’t working and had no money.
Endrit failed to get the lease option deal across the line in the end because the property owner’s solicitor didn’t recommend LOAs. Endrit recognises now that he should have taken control and put the vendor in touch with his own solicitor.
It was another lesson learnt, but his next move bore fruit after realising he could also use the direct-to-vendor approach for rent-to-rents.
His previous experience of speaking to agents made pitching to landlords easy, he says.
“When I phone up, first I ask about the property and the condition. Then I say I run a corporate let company and that I will fully manage the property and take it off their hands.
“If you go in with the fact you run a company let, they turn off but if you build a bit of a rapport by speaking to them slowly and telling them the benefits of a rent-to-rent – taking it off their hands, guaranteeing their rent, fully managing their property – then they’re more willing to work with you. If they’re still unsure, I book in a viewing and say meet me in person, you can see what kind of person I am. If you want to work with me, we can work together.”
Within a week of leaving The Eviction, Endrit started calling people who were renting and selling properties on the Gumtree website. After making ten calls, he agreed rent-to-rent deals on two large apartments in the affluent London suburb of Chiswick. The landlady was initially reluctant to do business with him because of his age.
At that point he had no beard and was looking like a 14-year-old, he says, and had to gain the confidence of the landlady who was much older than him. He brought his parents along so that she could see he was a family person who was going to pay the rent and that he was ‘not just a kid starting out.’
Each deal is for two years with the option to extend for another five years if he manages the properties well.
He paid a £1,000 deposit per flat. With the cost of refurbishment work, dressings and furniture, his total outlay came to £4,000.
“The two rent-to-rent deals are in the same area and the same building and I’m making £1,600 net profit per month.”
The landlady receives a guaranteed monthly rent and Endrit rents the two four-bedroom apartments out as a multi-let on a room-by-room basis.
As soon as he took control of the accommodation in November 2020, he applied for an HMO licence to allow him to put a couple in one of the four rooms in each flat to increase his revenue. It can take some time for a licence to be approved, so property managers are permitted to start renting out rooms from the moment they apply.
Within days Endrit got his first tenant, and in a fortnight of the refurbishment being completed the flats were fully let after being advertised in neighbouring areas, as well as Chiswick. He employs professional cleaners to ensure they are properly maintained.
“For me £1,600 a month profit is more than financial freedom because I don’t have many expenses. That’s allowing me now to focus on getting more deals.”
He is hoping to agree two more rent-to-rent deals with the same landlady. One of the properties is next to the two he is already managing. The other one is a six-bed house in Earls Court in London.
“She’s just waiting for the tenants to move out so I can take over. I’ve also got another landlord direct on a new build in Park Royal which is in the negotiation stage. They’ve agreed to work with me as a company. Now it’s about agreeing the right price.”
His goal is to take on another 20 rent-to-rent agreements this year which would bring the total number of properties in his portfolio to 22.
Endrit’s father runs a car washing business and that motivates him to do well.
“He’s worked enough years now. I want to get my dad out of work, so he can enjoy his life with the family. Also, I’ve got a dream and a target to build a property empire.”
- Find a mentor you want to be like who you can see is getting results and stick with that person.
- Follow the steps that your mentor gives you exactly.
- If you’re young and you’re meeting the landlord directly, I’d recommend bringing someone older with you, so that they can see you’re a genuine individual – or grow a beard if you can! It could also be someone with experience in the strategy that you’re doing.
- Be focused and take action.
- Often people don’t have enough self-esteem. You need self-confidence and the belief that you’re going to achieve what you set out to achieve.
Samuel Leeds’ verdict
“Endrit is living proof that if you just do the free stuff, by watching my videos, reading books and listening to podcasts and have a bash without proper support and training, you can get blown flat. Endrit was failing miserably. Now that he has had some practical training everything’s changed.
“After The Eviction, he secured two juicy rent-to-rent deals which I’ve seen. He’s making more money on these two apartments than most people would do if they actually bought the properties because he knows how to control and profit from them which is fabulous.
“My own tip is that if your parents aren’t backing you, take someone who is in property on a viewing. Someone who wants to see you win.
“My mentoring costs £95 a month. That gives you personal access to me and a bunch of other people who are financially free.”
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