Listen to this episode below:
Andrew has had a pretty mixed career, starting with a degree in Agriculture as well as periods spent abroad as an expedition leader and driving groups of people around South America.
On his return to the UK, he ran a successful engineering business before finally developing an interest in property whilst refurbishing pubs across the country.
He decided to set up his own building firm focussing on high value property in South West London, and with a few celebrity clients under his belt he purchased his first own investment property and was quickly hooked.
His business has evolved to where he now works with many JV partners on some truly innovative and creative projects.
The Good Property Company: Find out how Susannah Cole was able to buy £30million of property for only £20million at her Investor Open Days.
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Andrew’s current investing strategy is almost exactly the same as when he started out, except he’s gone from buying one flat in a building, to buying the whole building. The methods and practices are the same per unit, but he achieves great economies of scale, particularly on his time, by doing 17 or 18 flats in a single building rather than dotted all over the place.
Again, similar to when he started, he funds a lot of his projects by raising finance on personal loan agreements and by working with JV partners. Some of his tips during the interview on raising finance for property deals are the best I’ve heard in any of our interviews – definitely worth checking out!
Surviving the recession still stands out in Andrew’s mind as a big success of his – not only surviving it, but building up a significant portfolio during that time.
He didn’t start buying property until his late 30s, and didn’t start seriously trying to build his portfolio until his early 40s, at which point he decided to aim for 50 properties by the time he was 50. It was a big goal, but he was able to achieve it with a few years to spare.
Andrew’s success has coming from finding properties that he can add significant value to. Early on in his investing journey, he bought a small one bedroom flat that needed work but didn’t have much scope to add real value so instead overspent trying to make it sparkle, with too many spot lights etc. He struggled to sell it to his target audience, and learnt pretty quickly to avoid similar projects that lacked scope to improve in future.
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Rhinoceros Success: The Secret to Charging Full Speed Toward Every Opportunity – Scott Alexander
Andrew Featherstone’s Links & Resources
Featherstoneproperty.com – Discover more about Andrew’s projects, find out where he’s speaking next, and learn more about working with him on his next deal.
Email Andrew Featherstone – Got a question or looking for some advice? Get in touch with Andrew here.