Ragev came into this country from Israel with literally £50 in his pocket and was working for £40 a day as a labourer. Now he's got his own construction company, he drives a Range Rover and he lives in a beautiful house.
I went round to see Ragev and one of his properties which he is constructing in North London. He started off with nothing and has been able to build up an equity of over £3 million. He used the BRRR (Buy Refurbish Refinance Rent) structure which he learnt from Samuel 365 and has never looked back. With over 4 amazing deals and more in the pipeline, I am confident Ragev is going to be very successful in property.
The property I came to see is a construction project which is currently a large house that Ragev is converting into two flats. Ragev said he knew it would be possible to get planning permission for this conversion, as many of the other houses on the street were similarly converted. Initially, there were some planning objections to his proposal. However, Ragev overcame these with a little neighbourly diplomacy. In the end, there were more letters in support of his plans than there were objections!
Ragev financed the deal via a joint venture partner on a 50/50 profit share. This meant it was a no money down deal for him. The property cost £600k including stamp duty and the refurbishment cost £150k. Ragev’s knowledge of the building industry, and the fact he fully managed the job himself, helped keep these costs down compared to other similar projects in London.
The Gross Development Value (GDV) is anticipated to be £600k per flat, £1.2 million in total! The plan is to refinance and pull all the money out of the deal plus £100k!
Ragev was a builder before he met me or took any of my training. He worked hard to make someone else money. When he joined Samuel 365, which is my online mentorship programme, he learnt how to take those skills and use them to make himself rich. If you are going to work hard, it is always better when you can be the main beneficiary of that work.
There are some great deals in London, and you can make more in a single deal here than you can in many other places. The downside is that you can’t come to London with £50-60k in capital and start buying. What you can do however is raise finance, if you have the skills. If you can bring value to an investor, you don’t need to have the cash yourself. That’s exactly what Ragev did thanks to his skills as a builder and the information he learnt as part of Samuel 365.
If you have ever wondered if it is worth spending the £95 per month it costs to join the Samuel365 programme, I hope Ragev’s story has inspired you to give it a try. In fact, I’ll make the decision even easier for you. You can try it for 7 days for just £1. Here is the link to the trial.