On this week’s video Samuel takes a very special call from Chris and Poppy. A couple that has been living in Australia for the past six years.
As there time overseas is coming to an end and they begin to plan for life back in the UK. They want to set up a property portfolio for themselves for when they arrive back in England.
Chris and Poppy have £60,000 saved and ready to invest in property. The kind of financial freedom they are seeking will allow them to earn enough money from future investments, in turn, this will allow them to quit working and invest in property full time.
Due to the nature of Chris’s job he and Poppy find it hard to spend time with each other. Combined with living on the other side of the world it’s made it virtually impossible to see their families. This is has proven additional motivation for their efforts to gather a portfolio for their move back to the UK.
To go with the £60,000 saved up, they also have house belonging to a poppy’s mother with a market value of £1.8million. They are hoping to refinance and pull that money out for further properties.
Chris and Poppy have a decent amount of financial resources available to them. But are currently lacking in an educational sense of property investing and the route they should take.
Undeterred by this they are still willing to give it a chance, this allowed Samuel the opportunity to dissect and offer constructive feedback on the business plan that was being forward.
Samuel puts forward the notion that due to Chris and Poppy’s lack of property training. Recruiting a sourcing agent to locate a property in their hometown of Newcastle should be the move they make.
Preferable an HMO which they should invest around £40,000 of their savings into the property. Then along the future using the remaining savings put together with the refinancing of poppy’s mother’s house should be used in acquiring a rent to rent property.
All these properties should put them closer to their goal reaching a yearly total income of £27K enabling them property full time and move back home.