Lee ‘homed’ in on Samuel Leeds for the best deal of his life!

Lee ‘homed’ in on Samuel Leeds for the best deal of his life!

Experienced property investor Lee Lawrence became financially free from his first house share which he bought through Samuel Leeds’ sourcing company. Lee was also one of the first people to attend the Property Investors Crash Course when it became free in January 2017. Now he is breaking new ground again with his own consultancy and lettings business.

Cash flow and development potential from a single HMO

With a professional background in the construction sector, Lee Lawrence has an eye for property and how to develop land.

He bought his first investment house in 2003, following this six years later with several property flipping projects – buying houses cheaply, renovating them and then selling them at a profit. He also bought his first buy-to-let in 2013.

A few more years elapsed before he met Property Investors’ founder Samuel Leeds at a networking event in Kent and subsequently consulted him about buying an investment property in the Midlands. This led to him acquiring a house in Wolverhampton through Samuel’s sourcing company. The purchase price was £82,000. He spent a further £20,000 on a full refurbishment including converting a reception room at the front into a bedroom to create four lettable rooms.

Lee also paid a sourcing fee of £2,000 and an additional £4,500 to have it furnished from top to bottom by Samuel’s wife Amanda who at the time ran a business providing this service. The cost included a TV, beds, furniture, cutlery, pots, pans and labouring time.

Now the property is estimated to be worth £130,00-£140,000 and he rents it to a management company which lets it out as furnished accommodation.

“That house made me financially free and it’s been a great deal for me. I get £850 a month with no voids. It’s on a three-year tenancy, so I know what’s coming in. The company also pays the bills and maintains it. I haven’t even had to go there for about one and half years because the property is so well looked after. In fact, I’ve only visited it three times including the first time before buying it.

“It’s also got land at the side with development potential. I bought it with cash and I’m about to refinance it. I may build something at the back or another house at the side. It’s a good plot.”

Lee says the whole process from purchasing the house to having it furnished and let out was hassle-free.

“Amanda’s service was easy. She went in and measured up on her own. I transferred the money and two weeks later it was all furnished. The letting agent was already marketing it before the renovation was even finished and the sourcing side was easy as well. There was always someone there to talk to. It was the same with the estate agent and the solicitors.”

Compared to his previous investments, this project has not only given him cash flow, but he finds it more exciting.

“I like doing developments and it’s introduced me to an area outside of Kent. I’ve learnt a lot from it, not just about HMOs. I’ve learnt about rent-to-rent through letting it to a serviced accommodation firm and I’m getting into that world as well.

“It’s been a good journey.”

First FREE Property Investors Crash Course taught Lee about HMOs

Lee met Samuel at a property investors’ networking meeting, when Samuel spoke about houses in multiple occupation (HMOs) in the Midlands and his ‘buy low, rent high’ strategy.

The talk sparked Lee’s interest and he contacted Samuel for advice about buying a property in the region.

“Samuel replied to my email with some excellent free factual advice and then I came along to his crash course which was also free.

“By then the purchase of my HMO was going through, so I wanted to learn more about that and get some new skills, such as how to network better and engage with other property professionals.

“I was blown away by the energy in the room and the content was so informative. It was 100 percent well worth doing.

“I took my brother with me. He’s not into property, but I took him for the networking side of it. I said you will get a lot from it. It wasn’t what I was expecting. There were points where you had to stand up and do things I wouldn’t do normally. It put you outside your comfort zone.

“You might not come away from it and be a successful property entrepreneur, but if you take a few skills away with you, whether it’s networking and talking to people or coming out of your comfort zone, that’s so valuable.

“A lot of people do nine to five jobs for 10 or 20 years and don’t learn any new skills, but those skills you learn from networking can lead you into something else in business or in life. I learnt a lot about social networking and mentoring from Samuel.”

“Not every single person is created to be a property millionaire,” Samuel agrees. “You’ve got to take the skills and apply them.”

Lee was amongst the first lucky few to take advantage of the Property Investors Crash Course becoming free.

Samuel was in Thailand when he had the idea to hold the course over two days instead of one and waive his usual £250 fee.

“I wanted as many people to benefit from it as possible. It was an amazing two days. There were 126 people there, compared to about 50 to 60 before. Since then the crash course has gone on to become the biggest property training course in the UK. It attracts hundreds of people from all over the country and abroad.”

Lee also read Samuel’s book, Buy Low, Rent High, to expand his knowledge of investing in the housing market.

I’m proof that deal sourcing can make millionaires, says Samuel

Lee describes the £2,000 fee he paid to Samuel for sourcing his first HMO as the ‘best £2,000 I ever spent.’

“I didn’t have to go on lots of viewings only to find some had already been sold. I would have spent that amount on diesel, hotels and whatever I needed to source that property and obviously you’ve got to move in quickly.”

Samuel says he not only wants to teach people the skills of deal sourcing but also to show them that it’s a win-win for both parties.

“I was happy, and Lee was happy. That’s how I became a millionaire. I was financially free at the age of 21. At 25 I’d become a millionaire by selling hundreds and hundreds of deals.

“You’ve only got to sell a few hundred deals to make £1m and that’s assuming you’re only charging £2-2,500. Some of my deals I was selling for £5-6,000 and you can then put that money into your own deals. You’ve got to work with good people and deliver good properties and good customer service of course.”

Lee has also branched into deal sourcing, but instead of properties he finds land for investors. “Coming from a construction background I understand what does and doesn’t make a good site and I have an idea of what you can put on a piece of land, so it was a natural progression.

“My ideal client is someone who is already into property developing but if someone has money and wants to invest in a development, I suggest they do it with someone who knows what they’re doing.”

Samuel endorses this view: “If you’ve got money but not the time or experience to put that into a big project, it makes sense to get the education and find someone with experience to let them do it for you – as long as you make sure you get it drawn up properly with solicitors and work with people you can trust like Lee. It’s better to do two projects and let someone take 50 percent than do just one because you’re so wrapped up in it.”

Lee, who also provides a property management service, is of the same opinion, adding. “You don’t want to lose 10-20 percent just by making wrong decisions.”

Lee’s tips

“I self-manage my local properties to save on costs and I like to meet my tenants. I quiz them and touch wood I’ve never had any major issues with tenants I’ve taken on. That’s probably from learning and meeting different people and networking. You can tell if someone is genuine. I would definitely recommend you go networking as much as possible.”

“When I bought my house in Wolverhampton, I used Samuel’s power team. It was a new world for me at the time. It helps if the people in your power team, including mortgage brokers and solicitors, know the area. I built up a relationship with the estate agent after that deal.”

Samuel’s verdict

“Lee is now joint venturing with developers. He’s putting in his skills and they’re putting in money, so it’s a sort of mentoring too. He’s done very well since coming on the first free Property Investors Crash Course.”

Share in everyones success, don't make your property journey on your own be part of a network to share skills, knowledge and just to bounce ideas around.

We never stop learning.

To learn more about Lee Lawrence you can visit his website at https://www.crewlanehomes.co.uk/