Joseph Newland sold his beloved Jaguar to join Samuel Leeds’ academy. It was a painful decision, but he has never looked back since. With his business partner, Joseph has sold about £45,000 worth of property deals to investors. They also run a property management company and have just secured ‘the deal of the century’ on a hotel venture.
‘I always wanted my own business’
“Even the degree I chose to study was about entrepreneurship. I’ve always wanted my own business,” says Joseph, recounting how he came to be in property.
During lockdown in the Covid pandemic Joseph obtained a degree in business management. He attained a good grade but admits he only did it for the ‘certificate.’
After performing various managerial roles over the years, he wanted to legitimise everything he had done in his life by taking up higher education.
“I’d always worked in management. I’ve done sports centre management, spa management in the Algarve. I worked in security, doing events.”
Being dyslexic, it was something Joseph thought he needed to achieve, but at the end of the course he felt dissatisfied.
“I spent three years of my life working towards a piece of paper when really I already knew everything that was on the course.”
He acquired knowledge about marketing, which was useful, but generally the emphasis was on ‘the theory.’
Then, when it came to seeking employment, he struggled to get a job because of a bad back which he has suffered from for years.
Joseph went on to start a second degree in cyber security, but soon realised it was not for him. “I got to the end of the first year and I’m like, I’m doing something wrong here. This is not what I want to be doing. It was just this is what is going to pay well.”
He decided the only way round his back issue was to take on an enterprise himself which would give him an income.
After completing some training with other academies, Joseph enrolled on Samuel Leeds’ year-long academy programme, selling his Jaguar to pay for it.
“It was painful. It was my pride and joy. It was a Jaguar XF Sport and I loved that car.”
Despite that sacrifice, he has found the training hugely beneficial. “The things we’ve learnt in the academy have been amazing.”
Joseph has also benefited from the experience of mentors who have become successful in property themselves.
One of the features of the academy which he ‘loves’ is the web of inner circles in different parts of the country which give academy members the opportunity to network.
He runs the Bristol inner circle. Initially, there were 10 of these groups, but none in his area and so he set one up. “I remember Samuel getting off stage and announcing where these 10 were going to be and there wasn’t one in my area. I was gutted. I grabbed Samuel and said we’ve got to have one of these in Bristol.
“He said get me 10 people. I got 10 people and then I spoke to Tony (one of the mentors) and he said great. Get me 15 people. Then the 15 went up to 20 and I got that as well. Now we are one of the most popular inner circles in the academy.”
It is always fully booked, attracting investors and deal sourcers from as far afield as Cornwall and Gloucestershire.
He describes it as small local networking event which Samuel has provided for his students.
“We hire a hall, and we talk about all things related to property. We also have a guest speaker who gives a talk.”
It could be about architecture or deal sourcing, and members are allowed to network and share their telephone numbers. The membership is diverse and even includes a ‘rocket scientist,’ as well as teenagers making money from real estate, says Joseph.
The entrepreneur regards his inner circle as ‘family’ and through it can gather valuable contacts and information.
‘I knew Samuel’s training was the right match for me’
Joseph got a taste for property while working for a spell in an architect’s office. A friend showed him software used in the design of buildings and the creation of models.
Whilst he found it interesting, it was not an avenue he wished to explore further. What did make him want to become a property investor was seeing some ‘guys’ coming into the office who were ‘really cool.’
“They didn’t look any different to me, same sort of vibe, but they were doing million-pound deals and I thought, how do I get to there?”
The answer lay in getting himself educated. “When I saw Samuel’s training, I knew it was the right match for me. It’s what I’d always dreamt about.”
Joseph believes he is in the right place on the academy and is grateful to Samuel and his team for being so supportive.
“They’ve helped us grow from a seed to a tree. And this tree is getting big,” boasts Joseph with some justification.
From clinching his first deal on a rent-to-rent in Newport, which the former manager sold to one of his investors, he has gone on to earn finder’s fees from a string of other deals.
“Since then, we’ve sold about £45,000 worth of deals. That’s cash (in the bank). The expenses on that are very low,” he points out.
He can pick up a commission of £3,000 for each investment opportunity he sources. There is tax to pay out of that, but the software he needs costs ‘pennies.’ His profit and turnover are therefore virtually the same.
His earnings from deal selling have covered some of his university fees and he is about to start Samuel’s course on tax to ensure his business is efficient.
“I’m also looking to get an academy accountant. That’s where we are in our business at the moment, organising and structuring everything.”
Joseph is a co-founder and director of The Property Amigos.
“It is essentially a property management company. We also do deal sourcing and we’re about to start a development,” he explains.
The project in question incorporates a lease option on a hotel, giving Joseph and his partner the chance to buy it at the end of the agreement, while renting it out in the meantime.
“It’s an 11-bedroom property in Newcastle. The numbers are ridiculous. We pay around £3,500 rent. If we get to about 50 per cent occupancy we are already seeing about £4,000 profit each. If we go all the way up to 100 per cent, we’re looking at £8,000 each.”
As it turns out, the arrangement is even more lucrative than they first envisaged. The pair noticed that at the back of the hotel, called Quarrie House, there was a plot of land which could be built on.
“We spoke to the landlord and asked would you be interested in developing the back. He said, ‘Yes I’d love to, but I don’t have the money to do it.’ So there and then we said if you put the land in, we’ll raise the finance, and we can do a joint venture on it. He said, yes, shook our hands and we’re now working in a team with the landlord of the property.
“That makes it the deal of the century to me.”
They will raise development finance and then split the profits. Joseph didn’t know the area before, but his partner lived there and found the deal. “We set up the rent-to-rent contract and everything’s going smoothly,” says the businessman.
It is a win-win arrangement for both parties, he adds. “The landlord had something we needed – the land. We had something he needed which is the knowledge and the potential connections that we have – in this case finance, architects, builders. We have all that in place. So, it’s a matter of knowing how to connect the dots.”
For the landlord there is the added attraction of receiving half the profit and not having to carry out any of the work.
“If we build eight houses, let’s say and they cost £150,000 each, the GDV (gross development value) is about £275,000. Effectively he’s getting about £400,000 profit.”
Not everything has gone their way. They lost money by being too slow when it came to finding finance for another scheme.
“We had a deal which was looking astounding. It was an old barn conversion. We needed to raise £100,000. We had £50,000 and the day after it sold we had the £100,000. So, we missed it by 24 hours and that would have seen us profit about £450,000. These things happen and we move on.”
While Joseph is philosophical about losing out on such a large, potential pay-out, it taught him the importance of speed in business and taking action. He has also learnt that courage is an essential ingredient for success in his new career.
“That’s something you learn on the academy. You get braver.”
As head mentor, Samuel Leeds instils courage in his students by teaching them how to find an investment opportunity and what to say when they call an agent or a landlord. Then they are given 45 minutes to do it and told not to return unless they have rung at least one person.
Joseph found the exercise productive. “When Samuel did that I got my first yes on a property in Exeter, and they keep coming from there. It gave me the confidence to know that I could do it.”
Having the knowledge also bolstered his confidence. He agrees with his guru that without that he would just be a ‘motivated idiot.’
He has also overcome his fear of public speaking. “When I first joined the academy, I couldn’t get up on stage or anything like that. That became a personal mission to me.”
Now Joseph makes a point of getting up on stage every time he attends a Samuel Leeds Education event.
By talking about his experience, he connects with hundreds of people at the academy in one go. “They understand a bit of your journey and they’ll want to connect with you. If they’ve got anything similar to you going on, they’re going to come to you for advice or come to you to even offer advice.”
He also speaks at Monday night Mastermind Zoom sessions when students share their triumphs and challenges.
Having seen his father do well, his son has now picked up ‘the deal selling hat’ and found opportunities. Joseph’s wife is also backing him. His family drive him on to reach for even greater heights. “I’m doing this for them. My wife’s from Natal in north-east Brazil. I want to be able to travel to Brazil when we want to.”
Joseph’s tips
- If you’re in the academy, get up on stage and talk about whatever makes you happy in your property journey. It could be about selling a deal or getting your first ‘yes.’ If they understand a bit of your journey, they’ll want to connect with you.
- Speed is everything in business. Book the viewing. Take action.
Samuel Leeds verdict
“Joseph is financially free. He’s got multiple properties and a good cash flow coming in. He will never need a job again which is fantastic, and now he’s getting to the bigger stuff. I’m grateful to him for giving back and being such a massive asset to the academy community.”
