I grew up on a council estate and failed at school… now I’m worth £10MILLION and I’m only in my 20s
A BUSINESSMAN has revealed how he went from growing up on a council estate to amassing £10million in his 20s.
Samuel Leeds, 29, spent his childhood on an estate in Walsall, West Midlands, driving “old bangers which were always letting him down”.
But he now drives a luxury Range Rover and owns an historic castle in the Midlands after embarking on a career as a property investor.
Samuel’s mum was a mobile hairdresser and his dad was a gardener, before changing paths and becoming a magician following their separation.
He joined his dad at a market stall when he was 12, watching him selling tricks before mimicking the idea to school friends for a profit.
Samuel was also earning money from a paper round and washing cars.
When his mother got remarried to an accountant, his stepfather encouraged him into becoming a plasterer.
After gaining some work experience and passing a crash course, Samuel set up his own firm at 15.
Upon leaving school with B and C grades, Samuel learned as his stepfather began purchasing properties after realising there was no mortgage on his own house.
He told Property Investors: “I’m seeing Tim buying a few houses and I’m thinking, buying and selling a magic trick, you might make a few pounds. With plastering you can make a few hundred pounds.
“But if you buy and sell a house you could make tens of thousands of pounds. This might be a better way for me to get more money.”
It led to Samuel’s introduction to a property trainer and he soon enrolled on courses on the subject.
He began managing properties for free to gain experience, before charging £150 to help landlords find tenants – taking pictures and advertising them online.
The entrepreneur pursued the strategy of buying a cheap property and refinancing it before pulling the money back out.
If a property was worth £100,000, he would negotiate a cash agreement to pay £80,000 – then take out a bridging loan and get a buy-to-let mortgage from a bank.
He bought his first property under his stepfather’s name for £100,000 in Bourneville, before refinancing it the same day and pulling the money out.
Samuel purchased his second home in Bloxwich using a £15,000 loan from his grandmother.
He then took advantage of the 2009 financial crash to buy properties from homeowners afraid of negative equity.
Samuel would pay the mortgage and rent the rooms out to tenants.
He worked as an estate agent for three months while studying at university to gain further experience and contacts, before writing the book around his focus on theology, faith and ethics.
The book, Do the Possible, Watch God Do the Impossible, sold thousands of copies around the world.
Samuel then set up his company Buy Low Rent High Ltd and attracted more than 200 deals.
He was then able to acquire an office, rather than his living room, and he began giving talks as his reputation grew.
At 25, he became a cash millionaire.
But he didn’t stop there, and started charging £250 for single-day lessons.
The course became free in 2017, with the option to pay for further talks.
Following a brief retirement at 26 following the birth of his first child, Samuel created a business with his brother.
They began finding larger venues for his talks, booking conference suites in London and giving talks to more than 1,000 people.
In 2019, the company turned over just under £10m.
He adds: “I want people to realise that if they’re not good in school or if they don’t like their job, there is another way.
“For me that was property and it has transformed my life.”