A property investor with a £1.2 million portfolio has revealed how he’s gone from owning four properties to over seven in less than a year.
James Coupland, who purchased his first home aged only 19 using his student loan, previously hit the headlines after sharing his top tips for any newcomers looking to get themselves on the property ladder.
The 29-year-old, from York, has always been an “absolute saver” and refuses to spend his cash on anything unnecessary – meaning he now owns seven homes, with a portfolio worth £1.2 million.
And although he’s worked hard flipping houses and finding the right investments to maximise his income, the property mogul claims the recent change in the market has boosted this ten-fold.
“I’ve gone from owning four rental properties to having over seven in the space of a year,” James, who shares his journey on Instagram, (@jamesproperty_ ), told http://NeedToKnow.co.uk .
“Due to interest rates rising, buyers have been panicking and the demand for property has slowed down.
“This has enabled me to buy more, as they’re going for much less than market value.
“My last purchase was at an auction where only myself and one other person showed up – which is far different from before when over 50 people would show.”
Despite the uncertainty, James believes that investing in the market is still the “safest bet” and is a firm believer in the saying: “Don’t wait to buy property, instead, buy property and wait.”
He said: “It’s the most rewarding asset in the world and always will be in my opinion.
“Always try to keep it and not look to sell on, as true wealth is created in capital over time when naturally house prices will increase.
“Right now, this isn’t happening, but long-term, this will be the best option to maximise income.
“One of my favourite strategies is BRR – buy, refurbish and refinance – as there’s no tax to pay at source or extra hidden costs involved, so can be very powerful.”
James, who became inspired to get into property after living in “shocking” conditions while in a shared flat at university, used his days off studying to work towards gathering a deposit.
After one year, he had £6,000 in the bank – enough for a 10% deposit on a £53,000 house – plus solicitor and legal fees.
Previously, his top tips included setting a good financial foundation, playing the long game and staying calm.
And while these still remain true, fluctuations in the market have caused the need for a much more “savvy” approach.
James said: “I have always looked at slightly more creative strategies than just buy-to-let.
“I invest next to a university, as there is a huge demand for student properties at the moment.
“They have a choice, just like me when I was a student, to either rent a room on campus for high rent or look at private housing with a better quality of living at an affordable price.
“In turn, this creates more money than standard buy-to-let, as there’s more people paying rent as opposed to a single family, and helps students find a place they can truly call home.”
James currently earns over £35,000 (gross) per year from one of his student houses alone, with a further £24,000 (gross) being earned from only one of his most popular investments: AirBnBs.
The 29-year-old said: “These houses do need to be in ‘excellent’ condition, though, and I strongly disagree with landlords buying up loads of properties, refurbishing them to a low standard and renting them out for a rate dependent on demand.
“I could do this, but I choose not to.
“It’s important to get educated.
“There’s many pros and cons with property and it’s hard work, especially when things go wrong.
“Understand your end goal, and don’t go in blind, as this can be very risky.
“My best advice is to prioritise paying off any debt first, then start to build up a cash reserve and only invest in stable assets.”
Now, due to his passion and success, he’s hoping to inspire a new generation of investors and is a teacher inside the newly launched James Property University, where he offers advice and support.
He added: “Even though I started young, I wish I’d started earlier – my goal is to reach 50 properties, but I’m not sure if that will be the end.
“Property investment is not a ‘get rich quick’ scheme – it never has been.
“Yes, you can make very good money and you can increase your income by buying further properties.
“I’m at the point where I am now comfortable living on the passive income I have built up over time from rent.
“But money isn’t the best thing in the world, even though I enjoy making it, as I’ve learned to appreciate the journey because it lasts longer than time spent at the destination when a goal is achieved.
“It’s never going to be quick or easy.
“But as I always say: ‘Take care of the pennies and the pounds will look after themselves.’”
