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Tony is a property investor, developer and building contractor who has been involved in property through construction since 1994, and through running his own interiors and construction business since 2004.
In 2014 he took it one step further by getting serious about his property investing education, and surpassed the targets set by the programme he was on of generating £50,000 annual income by owning or control a property portfolio worth £1,000,000.
He has now doubled his previous income and set up a local property investing and management company, as well as a national property development and investment company. You can find him every month hosting the Milton Keynes Property Investors Network as well.
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Investing Strategies
Property development is Tony’s primary focus, but whilst he’s been getting his rent-to-rent portfolio to the stage where someone else can manage it, he hasn’t had as much time to focus on developments as he’d like.
AS he transitions the management of the rent-to-rent business though, he is looking forward with anticipation to current and future development projects, including one funded by Crowd Property where he is knocking down an existing bungalow and building a £1.7m GDV luxury timber frame house in it’s place. Going forward his focus will move more onto finding more deals and finding more funding.
Biggest Success
Whilst on a training programme, Tony realised that he wanted a regular cash-flow source alongside his development income. Over the course of 10 months and by ‘JV’ing with property managers, he built up a portfolio of 14 rent-to-rent properties with a very healthy return.
Biggest Difficulty
As much as it’s been his biggest recent success, the rent-to-rent portfolio wasn’t all plain sailing, as he partnered up with the wrong person to start with which set him back a lot.
Specifically, this particular JV partner sourced 4 deals the all ended up falling through and costing Tony a significant chunk of money. The problem stemmed partly from the partner using another sourcer, rather than finding the deals directly, which resulted in too many levels in the deal and not enough urgency.
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Screw It, Let’s Do It: Lessons in Life and Business
Tony Rigby’s Links & Resources
StrongholdProperty.co.uk – Tony’s Development & Investment Business
Interprove.co.uk – Tony’s Interiors & Construction Business
Property-Now.co – Tony’s Milton Keynes Property Management Business
Email Tony Rigby – Got a question or looking for some advice? Get in touch with Tony here.