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  • New Members

    My Journey

    Hi Everyone

    Above is my full name but people call me Amit. I am based in Milton Keynes, have few BTL's and have been involved professionally for the past 8 years. I also have an excellent professional employment in London which is demanding and 24/7 shift work. Despite the shift work and travelling there are lots of positive side to my job. I hardly have time to socialise or attend any property seminars or meet Landlords.

    Must say V & N has done a great job creating PT site after the death of well known site. It seems I know you all regulars because I was a member of the dead site and have known PT since day1 but just couldn't get around to join or may be lazy.
    I read a lot of topics here (relevent or irrelevent) observe views/opinions and learn. So, Thank you V&N for the platform.

    Why/How did I start------Due to shift work I have freetime at various time of the day and I wanted to utilise the time to better myself and enhance my income. I started of with selling on ebay, had website selling various things. They were all profitable in those days but hard work for little profit. I looked around all avenues which will fit in with my employment and took a plunge in property (1st purchase-2 bed flat in town). Worked well, got the property bug inside me then started crawling up.
    I started buying through estate agents with a bit of negotiation. Made friends with them and banks. Came across lots of trades men, made friends with the good and reliable ones. Made my life easier to deal with more properties. My tenants are all good and on friendly terms rather than landlord/tenant relationship. I care for them, understand their problems and help them as much as I can.
    I only rent to working class--Tried DSS but soon realised not for me.
    I also had my share of nightmares, broken doors, unpaid rents, run-away tenant, canabis factory, short notice departures and the usual repairs/ maintenance.

    I learnt a lot and learning everyday through experience and reading. Must say, I love it. I am doing great in my business and improving day by day. Love the business more than my job now. But due to salary, pension, medical etc I do not want to leave my job. Besides, my properties don't need me everyday. I will be bored.

    From sourcing to Taxation including everything in between I do it on my own. Family not interested and don't understand. They love the money but dont spare whinging because when I am at home, I am mostly on the PC doing something to improve business or looking how to better use of my money.

    People underestimate me because I dont show off to look like wealthy businessman. All I have is a newish reliable car all the time. So, BMW 3Series is my baby at the mo (lol).

    I have never been on any course, met GURU'S, or used all those past creative ideas. I know about it and well aware of the downfall of some of the tycoons.
    Anyway, this is my journey and I have a long way to go. I am not in a competetion or get distracted with other's success. I like to meet as many as of you when my time permits and yes. express my ideas/opinion if any help to anyone.

    Feel free to ask anything, I am an open book.

    Regards.

    Amit
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    I compete with myself

    Thank you Amit for this nice post and your down to earth approach Smile
    I recently joined myself, but contrary to you I don't have much of a clue and am working towards this direction.
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    Hi Amit,

    Thanks for sharing your property journey. It makes for an inspiring read!

    I like your pragmatic approach and its very generous of you to share what you have learned along the way. We were all newbies once!

    Stories like yours show how good old fashioned hard work, commitment, and sustained and intelligent action can lead to a profitable property portfolio.

    You learned what works for you and just kept moving forwards. Bravo!
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    Hi Amit,

    I like your style, good old-fashioned hard work and none of the "creative" guru style nonsense.

    Can I ask what your Property goals are i.e. what you're aiming to do next?

    P.S. BMW 3 Series is my vehicle of choice - you can't go wrong with them!!
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    Thank you for the welcome and nice words, Vanessa.
    I do take risk but only what I can handle, so you can say calculated risk taker and it worked for me. Plus I don't believe in having all your eggs in one basket. We have to be versatile, adoptable and and implement business/work style which is flexible.
    Always have a contigency plan rather than go with impulse.

    @--Daniel--- I do not have goals, honestly. I am an workaholic and just put my best in everything which brings me money and this is why I am where I am today.
    I do not believe in setting target of 40-50 properties or Billion pounds in my bank. It may work for some but not without massive stress and sleepless nights.
    I will buy more property if it comes my way and most importantly figures add up in my style. My Mantra is property must earn from day1 and my only target is must have £250 min profit on each property every month after all expenses. Otherwise, I am not interested.
    I am comfortable at the moment, can provide everything for the family, help people when needed. So, just like to remain the same and not worry about money.
    Work hard and carry on doing my duties/responsibilities with honesty and enjoy the result. I am a believer of KARMA.
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    I compete with myself

    Impressive
    Thank you for posting this Amit Smile
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    Thank you MNL. You are kind and easy to impress.
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    I compete with myself

    Hi Amit,

    I know you posted this over three years ago now, but loved the honesty in your post.

    Where are you now in your property journey?

    Newbie

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    Year 1 into my property journey

    Hi Newbie

    Thanks for bringing the post up and your comment. I am still in the business, doing well with its ups and downs. Stopped buying anymore due to section 24, reducing debts, increased rents, simply trying to hold on to all my hard work and avoiding selling unless I have to.

    Still employed and doing my crazy shifts, which I don't need to but I love my job due to great perks, salary, pension, medical and most importantly no boss looking over my shoulder also don't take work home.

    I am always on top of all required works in my business. It does not need me everyday, sometimes 4-5 problems at the same time. I don't panic but deal with it. Due to the  nature of the business, I am still employed which allows my body and brains to stay alert, some pressure and discipline in life. As I said before I am an workaholic, I enjoy the busy life style.

    I am also fussy, cleaning freak, particular and efficient. Just like majority of us here do all my house chores and a great cook. Busy bee, no friends, a loner and knowingly let others take advantage of me as long as it does not hurt too much and keep low profile too.

    What are you up to apart from the recent purchase? What you said in your other post about flipping, renovating, they are all good but you really need enough experience and hands on knowledge to get into it, otherwise nothing but hard work with a huge financial loss and stress.

    Take a baby step and do what you are comfortable with then after achieving push your boundaries a little.

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    I compete with myself

    Hi Amit,

    Great to hear you're still successful in property and living the lifestyle that many of us can only dream about.

    Apart from being a good cook, you sound exactly like me...very scary!

    Due to the fact that most of my funds went into buying and renovating my first BTL, my options are somewhat limited now.  I did attempt 'creative' options into property, but I feel that the more traditional methods such as flipping and developing suit my goals, my drive, my lifestyle and more importantly my personality.

    I will aim to get into managing properties for other landlords, so that I can gain experience and bring in another income via this route.  Once, I have enough funds (not sure when that will be), I want to buy, renovate and sell a property.  As you suggested, I will be buying small houses possibly 'up north' that I can afford and will aim to keep doing this to build up my 'capital pot'.  I do not need to release funds from my business account as a salary, so I will keep reinvesting this into the next project.

    The above seems like it might be like a realistic aim / goal for me, but I have had a minor set back that has dented my confidence and bank balance a little bit...but will keep trying.

    I will also look to create a regular meet up with like minded individuals, as keeping that type of company can only be a positive for me and my goals.

    Not sure if you mentioned it in your posts earlier, but what part of the UK do you buy in or do you not focus on any specific area?

    Newbie


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    Year 1 into my property journey


    Hi Amit,

    It is so wonderful that you came back to PT years later and up-dated your story!

    Well done for your achievements, your resolve, your determination, and your attitude.

    Thank you for such an inspirational start to my day!  Supporting people like yourself is why NIck and I started this site.  You personify the spirit of entrepreneurialism.  I tip my hat to you!  x

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