South African Gareth van Rensburg appears on this week’s winners on a Wednesday.
Gareth has been investing in property for 4 years. Having arrived in the UK in 1999 Gareth and his wife quickly became involved in properties making their first purchase in 2001. Gareth and his wife saw that there could be an opportunity to invest in my properties, but time was of the essence as they began working full-time jobs and starting a family there was much free time to invest.
It wasn’t until 2009 when the market crashed that they realized they could make extra money by renting out there home as they struggled to sell it on the buyers market. As their mortgage repayments were extremely low they had the extra cash to invest in properties.
Rough times hit Gareth in 2014 when he was made redundant from his job. The motivation from this drove him to take investing in property more serious. It led him to discover Samuel on YouTube in 2015 the idea of HMOs set a spark off in his brain. The idea of taking a 2 bedroom property converting into a 4 bedroom with a great ROI was so appealing to Gareth.
Empowered by the information gained from Samuel he began investing in properties almost immediately. The area that Gareth ventured into was up north using the buy-to-let strategy. When investing in different areas his due diligence was done making sure that there is strong ROI around the 20% region.
After attending further training such as the DFE course provide by property investors. He decided to widen his portfolio and started looking to invest in other areas using different property strategies.
Gareth follows a very methodical plan when it comes to his properties and prefers to purchase BMV houses that offer a high return on investment. Following this strategy can provide both pros and cons.
In the past, he has suffered from the cons such as bad tenants. He recalls a story of when a tenant refused to pay rent and ended up vandalizing the property. This is the risk that can arise when buying BMVs.
Samuel always stresses in making sure that the right tenant is living within your property. Doing the necessary checks to help keep your mind at ease. Pros of a BMVs is that they are a good investment as they don’t require that much capital to buy them and allow room for great ROI.
If you’ve started to amass a large property portfolio its ideal that you have a reliable power team in place. They need to be able to help with the day to day running of your portfolio be reliable and add something to your team. It can become more important if you have properties that are located across the country. Gareth has instilled team that gives him the freedom and peace of mind to focus on other deals and ventures.
The main key’s to him being successful is to be able to network with like-minded people and continue to learn and increase upon the knowledge you may already have. Gareth’s main goals for 2019 to purchase even more buy-to-lets setting his total target of 4.