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I was delighted to be joined on the podcast by Michael Kalisperas, a west-midlands based investor who started off as an accidental landlord, and was scared off investing for years after ending up with squatters in his previous family home.
A tragic event in Michael’s life led him to needing an alternative to a 9 – 5 job, though, and his search for financial stability brought him back into property.
In a pretty short space of time he’s got a pipeline of projects with a GDV of £1.5 million, has created an annual net income of over £90,000, and succeeded in raising £347,000 for his latest project in just over an hour through crowdfunding.
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Moving Into Property
After Michael’s young son was left brain damaged in the early days of his life, Michael and his wife spent months by his side in the hospital, whilst bills kept coming in and they still had to care for their older daughter. It was during this time that Michael decided he needed to forge a way forward, and create for himself an income that would allow his family the time and financial flexibility they needed to take care of each other and their children.
After signing up to Simon Zutshi’s Mastermind course and refinancing the family home, he made his first deal, buying a house at £20,000 below its market value before it was put up for sale, and brokering a deal with the developer to refurbish the place for free, and secure a contract with the local university.
A Lucrative Project
Since then, Michael has embarked on his biggest project to date, purchasing a commercial unit of two properties, to be converted into 15 rooms. He bought the property at £200,000, with the same amount of investment needed to complete the work.
It’s been valued to have a GDV of around £700,000 upon completion, with one building having 5 bedrooms, and the other being split into two flats, each also with 5 bedrooms.
This project was made possible by crowdfunding £347,000 in under an hour, which has been raised on a debt basis, so once Michael pays his investors back with interest he will own the property outright.
Increasing numbers of investors are now turning to platforms like Crowd Properties to fund their projects, and Michael’s experience will only serve to bolster those looking to take the leap.
He says the platform itself was immensely easy to use, and with the help of a good network of people in the industry, and his own capabilities as a designer in creating 3D renders to depict his vision, he has already achieved success.
What’s Your Favourite Book?
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The Chimp Paradox – Steve Peters
Michael Kalisperas’ Links & Resources
Coming from a design and marketing background, Michael’s happy to work on adverts, marketing, and funnels, as well as discussing his own property journey and the courses he’s taken to get to where he is today.
To contact Michael you can email him through his property company View Green Homes, or on Facebook, his preferred channel for networking with other property investors.
Outside of property, he also runs the website mylittlespartan.co.uk, raising awareness of his son’s preventable condition in the hope of saving further families from the same heartbreak his has suffered.