I’ve bought THREE properties in one year and I’m just 29 years old – here’s my top tip
A MAN who bought three properties in just a year has revealed how he’s managed to do it.
James Coupland, 29, has now built up a massing £1.2million property portfolio and he puts it down to being an “absolute saver”.
The York man snagged his first home 10 years ago and now owns a whopping seven.
But he landed three of those in the last year.
James, who’s open about his journey on his Instagram @jamesproperty_, said: “I’ve gone from owning four rental properties to having over seven in the space of a year.
“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.”
The 29-year-old says it all started a decade ago when his uni mates were out and about enjoying themselves with booze and takeaways.
He instead was using his student loan to get on the property ladder.
The hard efforts paid off, as James was able to purchase his first-ever property before turning 20 with a 10 per cent deposit of £5.3k – but it took a while before he was able to work on the ”dingy” property.
Now his housing portfolio has gone from strength to strength and he strives to share his tips with others.
James says: “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.”
He says people also shouldn’t wait to buy property, adding: “Instead, buy property and wait.
“It’s the most rewarding asset in the world and always will be in my opinion.
“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 now earns more than £35,000 a year from just one of his rentals alone, and a further £24,000 from his Airbnbs.
He added: “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.”