161: Carole Cooney operates her property business from Cambridge to Peterborough, growing her own portfolio and helping investors with serviced accommodation, HMOs and single lets

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GUESTNAMECarole moved to the UK from Ireland in 1985 and started a career in the hospitality industry running hotels nightclubs and pubs.

Since retiring from that world she’s now spending more of her time on her property portfolio based around her two local cities of Cambridge & Peterborough.

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Investing Strategies

Carole is currently running her own serviced accommodation portfolio after inheriting some money back in 2011 and moving into the property world. She’s also growing the letting agency side of her business, Opal Lettings, and is working with JV partners to help them grow HMO portfolios.

Biggest Success

The first 3 properties that Carole bought after her inheritance were all set up as single lets. With the experience that she has gained since through her network and education, she has since changed two of them to operate as 5 bedroom HMOs, giving her a net profit of over £2,000 per month between the two.

As single lets she was making around £200-250 per month on each property, so this change to a different strategy has had a massive impact on her bottom line.

Biggest Difficulty

Carole started out with a rent to rent strategy but unfortunately got involved with a landlord who was able to manipulate and intimidate Carole into doing more and spending more on the properties than she was responsible for. She was on the brink of going bankrupt as a result, but with the guidance of her mentor Fiona Talbot she was able to remove herself from the unhealthy arrangement and save her skin, but took a real step back in the size of her portfolio as a result.

What’s Your Favourite Book?

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Serviced Accommodation – An A-Z – Carole Cooney

Secrets of the Millionaire Mind – T Harv Eker

Carole Cooney’s Links & Resources

Caropal Properties – Find out more about Carole’s business through her main website
Connect with Carole on Facebook
Email Carole – Got a question or looking for some advice? Get in touch with her here.

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