Listen to this episode below:
Now I’m normally pretty impressed by the bios my guests send before the show, but with Reece I was absolutely blown away. He’s 23 years old and has been investing in property for the grand total of 2 year.
With no money of his own, he’s grown a multimillion pound portfolio from scratch. So far, he’s bought over 60 HMOs for either himself or his investors, he’s involved in numerous deals across virtually every strategy from single lets to commercial projects, and is just about to start some new build developments.
To top it all off, he deservedly won Progressive Property’s best newcomer last year.
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Reece takes a slightly different view on his investment strategy – his core focus is on the rapid growth of his business rather than a specific investment route.
His company is building up his own HMO portfolio, offering an HMO portfolio building service to hands-off investors, buying high-yielding residential blocks of flats, buying small commercial units, and starting to look more now at commercial developments and new builds.
He feels that he’s lucky enough with the people around him to be able to focus on multiple income streams, but if he was starting out on his own he’d likely focus on one specific area until he had really developed that stream before he moved on to the next.
Reece is currently working on a project in Whitby which is a large residential apartment development with a number of commercial units underneath. He’s got a lot of confidence in these mixed use developments at the moment, and is looking to do more of them.
He says that a lot of his ideas and inspiration comes from looking at what’s happening in London and being the first to bring those developments to the north.
As with most of our guests, Reece acknowledges that most of his biggest lessons come from his mistakes rather than his successes, and he’s faced plenty of difficult situations along the way – projects taking longer and costing more than expected, having planning permission refused on projects, jumping head first into a listed building project (something he’d never touch again).
Again though he talks about surviving many of these challenges by being surrounded by the right people.
What’s Your Favourite Book?
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Think Like a Billionaire – Martin S Fridson