Over the past seven years, our MD Shiv Haria and his wife Jaina, have built up a portfolio of 14 rental properties, which provide them with an annual profit of more than £100,000!
This portfolio will provide a stable income for their retirement along with also inspiring a business idea that has helped over 150 clients do the same! Let’s find out how they did it.
The Journey Began
The journey began in 2015 as Shiv, now 34, was fed up with working as a sales manager for an IT company. He decided to quit his job and was travelling in South America when he got an urgent call from his brother – their mother had suffered a heart attack.
Back in Britain, his mother’s heart attack had taken Shiv’s parents out of work and he started to worry about their financial security. He knew they needed an income that wasn’t reliant on them actually working!
A Lightbulb Moment
Following a few conversations, Shiv and Jaina both become obsessed with the idea of creating a passive income stream to buy their parents and themselves from financial freedom.
They began kicking around the idea of investing in buy-to-let properties as the solution. After reading every book in existence on the subject and spending £1,000s learning from people that were already doing it, they decided to pool their savings and test the waters themselves.
A Lot Of Running Around Later
After doing a lot more research and running around, they finally felt confident enough to purchase their first property.
The couple, who lived in Watford, picked Leeds for its mix of affordability and rentability and paid £78,000 for their first property – a four bedroom semi-detached house in Osmondthorpe, two miles east of the city.
Their First Buy-To-Let Property
They spent £14,000 on renovations and then rented it out at £650 a month.
Over the years local rents have increased to £850 a month.
“In total our investment in the house was about £20,000 and we probably make £4,000 – £5,000 a year on it, which is not a bad return.”
The house has also increased in value to around £160,000.
Just The Beginning
Emboldened, the couple began buying up more rental properties in Leeds and later in Sheffield.
“After prices in Leeds started rocketing we decided to find somewhere else and do the same thing – rinse and repeat.”
Along the way, the couple have built up their 14-strong portfolio. Once costs including mortgage payments, management fees and insurance are deducted, they are still left with around £100,000 a year in profit.
Feeling Inspired
They had created a portfolio that gave them financial security, secured their parents’ financial freedom, paid all of their monthly expenses, built wealth for them passively, and left them free do to the things that gave their lives meaning.
They saw first-hand how life changing having a buy-to-let property portfolio could be and wanted others to experience these benefits too.
The Start Of A Business
However, the biggest challenge for most people is that they don’t have the time or the expertise to take the first step to investing – especially if it’s somewhere far away from them.
If they could offer an end-to-end service which reduces the amount of time required, while also providing the expertise to find, purchase, refurbish and rent the properties for clients, that would really help people get started on their property journey!
And that’s how Lifestyle Property People was born!
Helped Over 150 Clients
To date their business, along with their expert team, has helped over 150 clients invest in the lucrative Northern property markets, creating an additional income stream for them and helping them achieve their financial goals.
We hope this story inspires you to invest in property and helps you realise that there are companies out there that can help you do it too!
If you want some help investing in property, why not book a call with our MD and see how we can help you. Click here to book your call.