Today we catch up with AJ. Prior to investing with us he didn’t own any buy-to-let properties. He now has two properties in Leeds, which were sourced, refurbished and rented by Lifestyle Property People.
We asked him about his decision to invest in the Leeds property market.
The Background
AJ Schroeter discovered us through a business network, BNI. Prior to investing with us he didn’t own any buy-to-let (BTL) properties, and was looking for a hassle-free and headache-free approach to investing.
He was drawn to the Leeds market because of the lower property prices and because he trusted that we had knowledge of the area and the right contacts on the ground to manage things on his behalf.
He now has two properties in Leeds, which were sourced, refurbished and rented by Lifestyle Property People.
The Why
AJ had built up a healthy nest egg from saving over the years. But with interest rates getting worse and a growing family, he was looking for ways to make his money work harder.
He was familiar with the property investment concept as his parents have a portfolio and this “removed the fear factor” for him. He’d also read Rich Dad Poor Dad, which convinced him about the pros of buying property.
For him, investing in property was a means to helping him become a “giver”. He wanted to give back to his family in terms of spending more time together, having fun days out and nice holidays together, for example. He also wanted to give back to his team by opening up better opportunities for them all to flourish, and to give back to society by donating more to charities that were close to his heart. To be able to give to everyone else, he was aware he had to build up his own pot first.
While pension planning was on the agenda, his immediate focus was on growing his business and enjoying a better quality of life with his family.
“Property is simply the enabler – I think of it as my insurance” he told us.
AJ was willing to bring in our team to undertake this task for him because he admitted that in the past he spent too much time trying to do everything himself. “I ended up watering down the quality of what I was delivering and decided that moving forward I would bring in specialists when I needed them. Lifestyle gave me the confidence to invest outside of my home turf,” he said.
The Process
Originally, AJ purchased 1 property to test the service out and we quickly managed to find him a fantastic 2 bedroom property in South Leeds. The whole process went very smoothly and he was really impressed with the returns and how little effort he had to put in.
A year later, he decided to purchase another 2 properties. However, just after he had signed up, AJ was presented with an opportunity to buy a new gym and expand his business, so he called us right away. We worked with him to do the maths and figure out his goals, then went back to the market to source him a single property that matched his needs and financials at the time.
AJ said he was impressed by the fact that it didn’t take up much of his time and he has no hassles. “A friend has his own property portfolio in Hatfield but every couple of weeks he’s there fixing something or moving someone in. I’m grateful not being bound by it all. That’s why I value Lifestyle and just let them get on with it.”
He appreciated that the team communicates updates to him through WhatsApp – it “makes it more social than formal” and he added “Lifestyle have always felt like partners rather than suppliers; I get a real sense that they have my best interests at heart.”
The Results
AJ has built up passive income that has made him feel less stressed about money and given him the confidence to focus his energy on expanding his business and providing his family with a better quality of life.
The benefits run deeper, too as he said: “I’ve built up a great friendship with Lifestyle’s founder.”
The Numbers
