Listen to this episode below:
Do you want to spend your time building furniture, or building your property portfolio? Fusion Furniture Solutions offer a complete nationwide service for landlords, investors and developers. Leave the furniture building to the experts at FusionFurnitureSolutions.co.uk
Goals at the start of 2016
Anthony is working towards a 3 year goal of Absolute Financial Freedom, which equates to having a monthly income of £8,000 per month. He got to this figure by working through our goal setting guide, and as with everyone, was amazed at how little he needed to live the life of his dreams.
In order to get there in 3 years, he figured that he needed to be growing his cash pot of around £140,000 per year in order to reinvest and give him this monthly income.
He’s also got a passion for helping other people and creating social housing in a sustainable manner, but understands that in order to get their he needs to look after himself first.
In terms of a strategy to get their, his main focus was and remains on doing development deals.
Progress So Far
When we first spoke at the start of the year, Anthony was 13 months in to a planning application on a plot of land. The day after we recorded, planning permission was finally granted and the build is now in progress (up to the damp proof course at the time of recording).
This project alone is set to make him a profit of around £110,000, based on a build cost of £80,000 and an end value of £200,000. The land didn’t cost anything as it’s been taken from the garden of his current house.
The other project he’s currently working on is a plot of land with a number of barns and derelict cottages. Anthony secured a 2 year option to buy this land subject to him securing planning permission on it.
Plans for Next 6 Months
Anthony is currently raising finance to finish the current development he’s working on, but given the high costs of finance I’m sure he’d be open to discussing private finance options. The aim is to have this finished and sold by the end of the year.
Whilst the second project has a much longer timescale (around 2 years in total), he hopes to have planning secured on it by the end of the year, and that planning gain alone would add £100,000-£150,000. This value, along with the £100,000 profit from his new build house will more than surpass his £140,000 goal for the year.
Looking forward, Anthony is keen to keep a number of potential deals in the pipeline so that he can keep the momentum going on the development side of the business. He’s currently assessing a couple of deals, and will continue to push forward with both of his current projects as well.
Anthony Hubbard’s Links & Resources
Anthony Hubbard on Facebook – Contact Anth directly to find out about his current projects and investing with him