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Richard is an Award Winning Property Entrepreneur, with varied property interests including a buy to let portfolio and a lettings business. He is a well-respected speaker & the creator of referencing platforms for LHA and Universal credit, and has won awards and been recognised at government level, both as a landlord and as a Letting Agent.
More uniquely, Richard is the only private landlord in the UK to be invited to undergo “Verification Framework Training” with local councils, to allow his tenants to visit his offices, instead of the council offices for their benefit claims for housing.
Details of his most recent deal can be found in YPN Magazine, which involved the purchase & Conversion of a hotel/bar/restaurant into his own home, resulting in over £500,000 of equity in this one deal.
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Investing Strategies
Richard is focussing solely on property flipping – both using SSAS funding (Small Self-Administered Scheme), and also through one of his limited companies. Listen to the episode to find out more about how pension funding could be a funding option to you.
Biggest Success
After 20 years of investing (and learning), Richard purchased the property of his dreams. It was a hotel/bar/restaurant that was on the market for £995,000 but after some investigations Richard discovered the owner was in receivership.
After 3-4 months of negotiating, he got an offer accepted at £225,000!
Biggest Difficulty
Richard bought a mixed use commercial/residential unit consisting of a shop and 3 flats for £70,000 and budgeted £30,000 for the refurbishment costs.
In the end, it cost him £100,000 to finish the works – 3 times more than his original budget! He was working 20 hours a day doing all the work himself, but he says his biggest strength is never giving up, and it was that tenacity that got him through the other side.
What’s Your Favourite Book?
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Creating a Bug Free Mind: The Secret to Progress
Richar’s Links & Resources
Email Richard – Got a question or looking for some advice? Get in touch with Richard here.