Listen to this episode below:
Marc is the first of our 2017 Property Goals guests to return for the mid-year review, and we’ll be joined by Ben and Tom Thorns later in the week.
Back in January Marc was on the brink of leaving the corporate world behind after realising he’d rather be building his own portfolio than continue the day job as a commercial construction project manager, and with only a few months until the end of his notice period he had some serious work to do in order to replace his income before the pay checks stopped coming in.
This show marks the half way point in the year. We’re 6 months in and have 6 months still to go, so it’s a great time to catch up with each of the investors in this series and find out what they’ve been up to so far, what progress they’ve made towards their goals, and what their plans are for the next 6 months.
Landlord Smart is the smart way to reduce your capital outlay and minimise your tax bills on furnished property. Visit LandlordSmart.co.uk to find out how lease finance can help you make the smart choice when furnishing and fitting our your portfolio.
Harvey Bowes’ multi-award winning team of mortgage brokers can help you use finance to increase the momentum of your property investing. Call them on 029 2175 4150 or visit HarveyBowes.com to find out how they can help you.
Goals at the Start of 2017
Marc’s main goal was to get 20 Serviced Apartments up and running by the end of the year and to start a development project of some sort.
In the shorter term he wanted to leave his job and have £6,000 per month coming in before his last pay check ran out.
Progress So Far
With his current portfolio (predominantly made up of rent to rent apartments), Marc is bringing in around £5,000 per month which is a little less than he had planned for but still a significant income to be generating so quickly.
He’s had to tighten his belt a little as he wants to reinvest as much of the profit as possible into further growth, but I still think it’s a great achievement for him.
Plans for Next 6 Months
Marc intends to carry on pursuing his goal of 20 units by the end of the year, which could be helped up by a commercial to residential conversion. He’s begun his search for a suitable opportunity, and is also expanding his geography by working with a new business partner. Paula has a focus on York whilst Marc keeps his efforts in London, and a new team member is supporting them behind the scenes with the operations side of the business.
Marc Willton’s Links & Resources
Email Marc Willton – Got a question or looking for some advice? Get in touch with Marc here.