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Jamie has been a full time property investor since 2012 after an 18 year career in advertising in London. He has built up a portfolio of 11 properties that he owns and 34 additional units on rent-to-rent agreements.
He is one of the co-founders of Progressive Property Network, the fastest growing property networking businesses in the UK, he has mentored over 150 property students and as if all that wasn’t enough he recently completed an ironman triathlon.
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Investing Strategies
Jamie started out with single lets in his early days, in order to prove to himself he could source good deals, recycle his cash, manage renovations etc.
He now focusses on HMOs – both owning them and managing them for others – whilst doing a few flips in order to generate chunks of cash.
He did lack focus at the start of his journey though, as he was constantly discovering new strategies that seemed more interesting than what he was doing at the time. He learnt a tough lesson from that approach as he was distracted and not focussing on a single goal enough, so he recommends to others to really become an expert in one area before moving on to the next.
Biggest Success
Jamie and his business partner have just taken over a large Victorian HMO as a rent-to-rent. They manage it on behalf of the landlord, who they guarantee a monthly income of £1,600 a month. After all utility costs and provisions are taken out, they’re making a healthy cash flow of £500 per month, despite not having any of their money tied up in the deal.
Biggest Difficulty
A property that Jamie bought in 2011 is a 3 bed semi-detached house in Leeds. He bought it for £56,000 and his research indicated that its real market value was around £70,000. He spent £8,000 on the refurbishment and it’s now worth around £90,000. It’s rented out to an LHA family at £650 per month, giving him a great yield of around 12%.
However, his strategy with that house was to refinance it once he’d added value, but it’s a slightly unusual construction meaning borrowing more against it is difficult. So despite it being a good single let, it hasn’t gone to plan and his cash is now stuck in the property.
What’s Your Favourite Book?
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The Compound Effect
Jamie Madill Links & Resources
ProgressivePropertyNetwork.co.uk – The fastest growing property networking in the UK
The HMO Company – Jamie has teamed up with Julian Maurice to provide high-quality and great value accommodation to professional people