Millionaire Helping Woman Become Millionaire From Council Estate in London…….
Hello I am Samuel Leeds, a property guide and property investor. I have been giving classes to many students and all of them are learning so well and putting their best efforts in the world of property. I have received many messages regarding my first student, who he/she and how he/she is going now? So, I thought of making a video where I will introduce the very first student of my crash course Jael Spponer. She joined my course in 2014, absorbed a lot of knowledge and information from me and today she is performing outstanding in the property. I am really proud of her as she took her journey of struggle so well from being on benefits to owning a number of properties that are mostly worth a million pounds. Isn’t it amazing?
I decided to visit one of the Jael’s properties in London and interview her about how she all did this to become a millionaire. We talked about adding value to the property and achieving goals to become a millionaire. So, let’s see what she has to say on this.
Visit to Jael’s Property From Council Estate
I went to meet Jael and view her property which she bought in Council Estate. It was basically a council flat and she is making it a service accommodation which seems good area wise. She showed me the whole flat and told me about all the planning of what changes she is bringing to this flat. She is converting it to one big room with a kitchen and a bathroom.
If I compare the conversion value of this flat in London to Huddersfield then of course London is worth more. The value of this flat is 482 grand and it will be worth 550. Around 30 grand will be put in to make the changes. It means it would add 10 grand value to it. She is planning to do a loft conversion. She was renting this flat for 1200 including the utilities before but now after the conversion she will rent it out for 1400 excluding the utilities which means the tenants have to pay their own bills. As she is also adding a big bathroom so the rent will reach upto 1600.
She is adding 300 pounds a month for 35 grand which is great. Jael’s sister is helping her in the construction as she owns a construction company and she gave Jael six week time for the complete refurbish.
Jael is also buying a house in Barnsley. She has even calculated the amount she will have from both the houses if she does not take out the all equity then she will be at 750 equity. That's a superb man, she is quite close to becoming a millionaire. You know what? It was only six months when she moved from Huddersfield to London. She only needs one or two more deals by the end of this year to hit the millions.
On her laptop, Jael showed me her new house which is going to buy and it was quite big and beautiful too. I told her I am in the process of buying a house and it was a big deal as there are gonna be 30 houses and I asked if we both would do and she agreed abruptly because she said she wants to do this next as she is leveling her up.
She got her new house for 550 and it’s actual worth was 580, they reduced the amount for her. She is going to do HMO in that house making nine rooms and two apartments. She didn’t find rent-to-rent suitable so she moved to deal sourcing which she is doing great. According to her it requires a lot of work but it has quick cash service. What I told her is she should not have trouble in deal sourcing as I have been branding her and she has been viewing houses for years. To this, she said the hard part is to put everything together like emails, images etc. However, finding and getting deals are not very hectic.
She showed me another property on her laptop which is on lease option agreement. The split will be 50-50 on capital appreciation after seven years, she said. She has to pay 1500 per month which is high but what benefits her is the estate agent she has who knows the number of people who need room to stay as they belong to some hospital. The profit will be one thousand eight. Also she said that she has to pay an additional 600 if she wants it to get it done in two weeks. She has also talked to HMO management to manage the stuff and everything.
Light Heart Discussion
So, I asked Jael that after doing all this how you feel or how you take all of this with stress or calmly? Because yesterday when she called me she sounded crumbling but she said it was in a good way. She took my advice about how I am going and discussed everything. That is great when you stay connected with your teacher and get updates of your work scale. I am always happy to see messages and calls of my students who are willing to get my advice or want to get out of the problem if they are stuck. It showed how passionate they are towards their work. I advised her three things:
- Keep managing things which is doing good but she needs to be more focused on this
Do the deal sourcing and she said she had done four deals out of which two are sold potentially. For the other two she is doing efforts to sell and everything is lined up and doing well. But she said she is taking these upfront and has not taken out the money so I suggested taking it out otherwise they will waste your time.She said OT, Jamal and Evan sources are coming like she does not send this directly to the investors.
She asked me what I thought about this property and whether she should put money into another property or not. I asked her about “How long have you got the planning for? to which she said until July. I said it is worth doing because she is doubling the money after spending 35 grand.
Alright it was great meeting Jael today and knowing her journey was inspiring. I told her I will come to see when the house gets refurbished. I hope you like the video. For more videos keep watching me and subscribe to my Youtube channel.
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