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Dan started investing in property straight out of university with a little help from his friends, in the way of cheap labour and reliable tenants for his first deal. His main focus during that time though was his nightclub career, until he met his first JV partner and proceeded to refurbish 30 properties over the next 10 years.
During that time, he built up his own portfolio of single lets, multi-lets and licensed HMOs, before educating himself further through Simon Zutshi’s Mastermind programme in 2013.
He’s still very actively investing, building up his war chest through property refurbishments, providing accommodation for people facing homelessness or already homeless, and connecting people and deals through his own businesses and the recently launched Birmingham central PIN even which he hosts.
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Investing Strategies
Dan’s real passion at the moment is New Leaf Living, which provides high standard accommodation for people who are either homeless or are facing homelessness. They look specifically for properties that will be suitable for this market – in the right area, with the right facilities, and to the right standard to make it easy for the housing associations to manage.
Biggest Difficulty
The presentation Dan does at property networking events is all about the mistakes he’s made throughout his journey, but one specific deal that stands out in his mind is when he bought a couple of off-plan properties, than appreciated a grand total of £0 in the time he owned them. He had to sell one at a loss of £35,000 and barely broke even on the other.
He was roped in by promises from the developer of over-inflated rental figures and resale figures, and this taught him a great lesson in doing his own due diligence rather than trusting others (particularly when those others have an interest in you paying as much as possible!).
What’s Your Favourite Book?
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The Richest Man in Babylon
Dan Norman’s Links & Resources
PINMeeting.co.uk/Birmingham-Central – Find out more about Dan and when he’s next hosting his property networking event
Email Dan Norman – Got a question or looking for some advice? Get in touch with Dan here.