Listen to this episode below:
Jacquie Edwards is a small town girl that wants to see the world! She tried to follow everyone else’s plan for life: go to school, get good marks, go to university and then get a good job and move up the corporate ladder. But as she was moving up the corporate ladder as an accountant she realized that she was miserable more often than she was happy.
She dreaded going to work every morning and the depression on Sunday night got so that eventually it ruined her entire Sunday. She knew there had to be something better out there – and that is when she discovered property and Rent to Rent.
Her friends and family thought she was crazy for quitting a “good job” but in less than 12 months Jacquie had replaced her income and created a Rent to Rent business with nearly half a million in revenue per annum, and growing! Now that Jacquie is financially free and has systemised her business – she’s able to spend more time travelling, which is her real passion. All the while continuing to grow the Rent to Rent business alongside purchasing HMOs through Joint Ventures.
As well as that, she also helps other people to start their own Rent to Rent businesses and meet their financial goals through her book Rent to Rent: Your Questions Answered along with mentoring and training programmes.
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When Jacquie and her partner sat down to think through their future, the main thing they knew they needed to ensure Jacquie wouldn’t need to go back to work was cash-flow.
They also appreciated that in Oxford (where they wanted to invest) their capital wouldn’t allow them to buy sufficient property to replace all of her previous income. With these two factors in mind, Rent-to-Rent became the obvious strategy to focus on.
With Article 4 in place in Oxford, they focussed in on properties that were already HMOs, owned and run by tired landlords. During the show, Jacquie gives some great insight into how she approached them and built up her own rent-to-rent portfolio so quickly.
Rather than a specific deal, Jacquie is simply proud of the fact that within 12 months she was able to build a portfolio of other people’s property that gives her an annual profit of £100,000.
On the very first property they took on, the house was in bad shape and required a lot more work than they initially expected. All of the contractor quotes came in higher than Jacquie hoped, so she decided to take on the work herself which turned in to a bit of a nightmare.
After that (lesson not quite learnt), she decided to buy the furniture herself which meant the night before tenants were due to move in was spent building flat pack Ikea furniture.
Needless to say she has since learnt her lesson, and now relies heavily on experts to advise on the work and to carry it out for her.
What’s Your Favourite Book?
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The Millionaire Master Plan: Your Personalized Path to Financial Success – Roger Hamilton
Rent to Rent: Your Questions Answered – Jacquie Edwards
Jacquie Edwards Links & Resources
JadeSuccess.co.uk – Find out more about Jacquie, shedule a free call with her, or find out about coaching and mentoring with her.