What University Teaches you about Real Estate
Hello. My name is Samuel Leeds and today in this video I have an interesting topic to discuss. My friend Damon came to me to share his story of property dealing. The topic was about the learning part of real estate from university like what you learnt about real estate from the university. So let’s see what we discussed.
Learning Experience From University
Damon spent three years in university to learn about real estate. I asked him what he received in these three years. He said it was difficult to understand because the environment is not suitable for him. But they taught about the law regarding real estate, construction aspects and also taught how to be an estate agent. This course cost him 30 grand.
University and Academy Learning
So Damon spent 30 grand in university to learn about real estate and 10 grand in my academy. I asked him how he compares both of them? According to him, university education is about how to work for people, how to be a good estate agent, how to deal with customers while the academy teaches about the investment in property like how to make money and work for yourself.
I asked Damon to share his story of coming into property. He said he searched the cheapest property all over, so Burnley came up on the top of it. He was a student at that time and living in HMO. He saw a new university has opened in Burnley and maybe students need HMO to live near university. He found a house which was five minutes away from the university. He then decided to buy the property and will do HMO.
He bought that property for 55 thousand. It was a three bed house which he wanted to turn into five. It was quite a spacious property. With the help of his parents, he managed to fix up the property for 50 grand. So, in total it cost him about 107 to 108 grand along with all the legal fees. Now its worth is 115 grand. He added a little bit of value which is not bad.
The renting cost is 400 pounds per room and it has five rooms and five restrooms. So, with 400 pounds rent and two grand turnover, Damon will be earning 900 pounds per month profit. It is amazing. He rents this property to the factory workers and not the students because they are not doing good in paying.
After all the management, maintenance and refinancing, he can manage to return the money to his parents. That’s great!
I told him about the guy named Pete who was on Samuel 365 as well. He bought a house in Burnley and advertised to rent it out for 1600 pounds for four beds with good condition. People are commenting that you can’t rent it out for 1600 pounds when you bought it for 66 grand because my dad bought a house for 600 and renting it out for 1600 pounds. That’s the actual point that whether you bought a house for 66 or 600 you can rent it for 1600 pounds. This needs to be understood.
Well it was great talking to Damon. Hope you guys enjoyed the video. Don’t forget to subscribe to my YouTube channel.
Share this video: https://youtu.be/e5iINiGPKe0
🎥 How to build a property portfolio from scratch in 7 DAYS: https://youtu.be/RWEkj1y8XKs
📖 My favourite book: https://amzn.to/39VcYLa
❓ Have a question about property? Join my Property Facebook Group: https://www.facebook.com/groups/77861…
🗣️FOLLOW ME ON SOCIAL MEDIA:
Facebook Group: https://www.facebook.com/groups/77861…
Facebook Page: https://www.facebook.com/OfficialSamu…