Member Spotlight - David & Emma

Q. When did you join PWS?

We joined Property Wealth System in March 2023

Q. Why did you want to start investing in property?

I had savings building up in a general bank account making no interest and wanted to invest in something wisely. I work flexible hours which meant I had free time to focus my energy in to another project outside of work.

I started to research property development and Caroline coincidentally appeared on my Instagram with an advertisement for an upcoming workshop

Q. What do you do for a living? And if that has changed since investing in property, how has it changed?

I am Branch Director of a Freight Logistics company. Having the property business alongside my day job has increased my passion and drive for both, as I am now able to satisfy my interests between both professions.

Q. Biggest learning to date?

Don’t wait for tomorrow to start anything. It can take months for deals to come in, so chipping away at little tasks each and every day helps keep the overwhelm in control and the progress to continue.

Q. What do you find challenging about your personal property investment journey?

Living nearby our investment area allows us to be hands on throughout the whole process. So learning to give more responsibility to our power team for key decision making has bee, and continues to be, a challenge!

Q. How has the education and network from PWS helped you?

We wouldn’t be where we are without PWS.

The foundations such as how to run numbers on deals is a basic that was learnt from the offset and continues to be relied upon daily.

The strategy pyramid gives guidance and motivation for future goals.

But ultimately, the positive mindset and how PWS get you thinking about your personal why has been the biggest gain.

Q. Tell us about a deal you've been really proud of...

'Project Thorburn' was our third deal with the intention to be a flip. It was an old, large 3 bedroom semi on the Wirral with front and rear gardens.

It was being sold by online auction which had already had 2 unsuccessful rounds of bids that didn’t meet the reserve price, including our own offer. 6 months later and third time lucky, the property was ours and we had to complete within 56 days. The cost of the auction pack plus deposit was financed through our first deals remortgage and the rest put on a bridging loan.

Throughout renovation, the things we had budgeted for such as new boiler and windows were not required. But more manual labour and time effort was needed on the groundworks. This meant our renovation costs were significantly lower than when we first ran our numbers. Near renovation completion, market interest rates had started to drop and we looked at the cashflow for the property to be a BTL and it worked great.

We learnt that there is high demand for rentals in this area for houses that allow pets, so we had a tenant in place before the works were complete.

The remortgage on the property took longer than expected due to the property being the first time filed with land registry. But a positive of this was that interest rates had again dropped so our monthly cashflow increased even more!

Q. What's next for you?

The current focus is to get our first two SA’s up and running. We want to make the management of these as automated as possible so to continue spending our time looking for the next deal.

Interested in how we could help you start, or accelerate, your property journey? Check out our courses here.