Listen to this episode below:
Jenny is an inspiration in the truest sense of the word. With no previous experience in investing, a personal tragedy 3 years ago changed her entire mind set and she jumped on property as a means of becoming financially free in order to spend more time with her family.
In that time, her and her husband have achieved great successes, including being top performers on the Simon Zutshi Mastermind programme in 2013.
More importantly though, property has enabled her to focus on the causes important to her and her family.
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Investing Strategies
The main strategy at the moment is flipping deals – where they buy 2 and sell 1. The profits from the 2 flips cover the buying and holding costs of the 3rd, which adds to their rental portfolio and their monthly cashflow.
For the flips, they look for properties that need a lot of work and have potential for extension and development.
On the hold side, she prefers to keep small unlicensed HMOs so she doesn’t have to deal with the added bureaucracy of the licensing process.
Her ultimate goal though is to use property to fund a facility to help young, vulnerable people suffering from the effects of depression. She set up the Lucy Rayner Foundation after losing her own daughter to depression, and I urge you all to watch the video below to find out how you can help raise awareness.
Biggest Success
Jenny’s biggest success is still her very first one as it proved her plans were possible. It had been on the market for 6 months so they were able to secure it for around £30,000 below market value.
They turned it around in only 3 weeks and re-sold it for £40,000 more than they bought it for.
Biggest Difficulty
When Jenny and her husband decided they were going to get involved in developments, they took a massive step up to a £4,000,000 deal that they had an offer accepted on.
Just days before they were supposed to complete, a cash buyer came along and the rug was pulled from under their feet. As you might imagine, the abortive costs were massive despite them not being able to complete on the deal.
What’s Your Favourite Book?
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Property Magic: How to Buy Property Using Other People’s Time, Money and Experience
The E-Myth Revisited: Why Most Small Businesses Don’t Work and What to Do About It
Jenny Rayner’s Links & Resources
thelucyraynerfoundation.com – Take a moment to find out about the cause so dear to Jenny’s heart
Email Jenny Rayner – Got a question or looking for some advice? Get in touch with Jenny here.
Email The Lucy Rayner Foundation – Get in touch with The Lucy Rayner Foundation.