Listen to this episode below:
After years of describing herself as normal, Julie finally realised that perhaps she wasn’t. Summed up as tenacious, she has discovered she is someone who doesn’t take no for an answer. If she wants something enough, she’ll work outside her comfort zone, focus, network, make opportunities and build relationships until she’s achieved it.
Born in Kent, she dropped out of school as soon as possible without a single qualification and started working two days later.
She has progressed through careers in Accountancy, Learning & Development, and her own property investing, and loves nothing more than helping other people achieve success, and of course her own family.
Property Investors Network is one of the best places to develop your property network and power team. With over 50 monthly meetings throughout the country, there’s sure to be one near you, and if you haven’t been before you can use Voucher Code ‘Guildhall’ to get free entry to your first PIN Meeting.
Her main strategy for cashflow is focussing on HMO properties in her local area. She will also consider lease options and rent-to-rent deals for HMO properties, but is adamant that she will not spend any money that she can’t recover within the first 6 months.
In order to increase her capital, she is also doing flips and looking for land that has development potential.
Whilst on a journey around estate agents looking for investment properties, Julie was told about a bungalow that might be of interest as a development project.
She took a look on paper and thought it was worth a viewing, and found out that it was being sold in order to pay care home fees. 30 minutes later she was viewing the property with her Joint Venture partner.
It was on the market for £205,000 but they were able to negotiate the price down to £175,000. They spent £34,000 on renovating the property including the costs of finance, refurbishment and professional fees, and they sold it for £265,000 giving them a £56,000 net profit.
During this episode, Julie also talks about how she was able to find the Joint Venture partner in the first place.
Julie’s very first tenant lied through his teeth in order to move in to her HMO.
Within 2 weeks of the second tenant moving in, the first got into bed with him and said “you don’t understand the meaning of sharing a property”.
From there it only got worse. The second tenant called Julie in the middle of the night to explain that he was drunk, high and had urinated in the corridor.
Julie evicted him very quickly, only to find a room full of stolen good, and a massive supply of empty alcohol bottles for such a short tenancy. She did everything right in terms of referencing and getting a guarantor, but now strongly recommends landlords take the time to list bad tenants on rentchecks.com to help prevent other landlords having to live through the same fate.
What’s Your Favourite Book?
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Mayhem, Murder & Multi-Lets – Francis Dolley
Julie’s Links & Resources
facebook.com/JulieHogbin2 – Facebook is the best place to find out more about Julie and to get in touch (but remember, if you add her as a friend be sure to send her a message to introduce yourself!)
Email Julie Hogbin – Got a question or looking for some advice? Get in touch with Julie here.