Russell is joined by David Marshall for this week’s episode of Winners on a Wednesday. David worked for BT for over 30 years where he was relatively happy. unfortunately he found himself becoming an accidental landlord. After owning his house for over 20 years, he simply couldn’t afford to live there for much longer. He decided the best thing to do was rent out the property and move back in with family. He would gain an income from his property which would cover his repayments.
Already having one property in his portfolio David wanted to invest in more. Thus attending the Samuel Leeds crash course. While attending the crash course David was already trying to push through five property deals. Shortly after the course 4 of his deals fell through and the remaining one had stalled and couldn’t get completed.
After taking on board what was on offer at the crash course David wanted to push his knowledge to the next level. He decided to join the Property Investors Academy. Throughout the process in the academy, David has stayed patient in everything that he has.
He believes the hockey stick theory that was explained to him by academy trainer Rex. This theory tends to the belief that no matter how much you invest in yourself you will need to remain patient. Eventually, things will come back up like the shape of a hockey stick.
Staying in the game long enough to receive your success is something that many people neglect as they expect the success to happen overnight. David has remained persistent and stuck the plan that he had laid forth. Which resulted in the first deal that he acquired in August a Lease Option Agreement that did require a light refurbishment.
Just two weeks after completion of his first LOA he was able to secure a second deal from the same person. 6 months later David is happy to announce that he is financial free with a passive yearly income of £30,000.
Not one to rest on his laurels David remand diligent in his approach and seeking out new property deals. This has resulted in a pending deal in the form of a 10 bedroom HMO that is about to close on. His biggest inspiration that drives him is his family. Showing his younger children that there is another way to live and become successful by using tools such as property.
The best advice David has followed is the simple preparation done daily. In property that this could be making phone calls, booking a viewing or spending 30mins searching property sites. Doing this daily can only aid towards your end goal.