Celebrating 10 years in Property
I cannot believe a decade has gone by since starting in Property.
Somehow, I choose to not remember my life before Property, but of course I was in I.T. for 10 years before that 😊
I started my Property journey only two years after the worst global crash and credit crunch in the property industry – great timing of course 😊 (NOT).
Prior to the crash, landlords got 110% loan to values, same day refinance, and built large portfolios with little or no cash of their own.
I started out at a time when a minimum of 25% deposit was required as equity for all residential purchases. ☹
Initially we built our portfolio with our own funds and more recently borrowing from investors on a fixed return. We have also worked with good joint venture partners and the learnings have been invaluable.
In addition to my plan for helping 1 Million in the UK to create financial independence through Property, I also have a moral obligation to help the underprivileged from my home country, India.
I grew up in the suburbs of Mumbai and not far away we had a large slum dwelling spanning over 1 mile long and wide. Our home-help was often from this community and we spend precious times during our childhood with our helpers.
It is shameful that in 2020 many people are living in such poor conditions, no proper roof over their head, no proper toilets and poor hygiene and sanitation.
In 2021 I will be raising funds for a charity and my MISSION is to provide a housing development of flats for the local slums. Not only do I feel a personal connection to this community, I feel it is my moral obligation to GIVE BACK.
I would like to share my top ACHIEVEMENTS (for every year in Property).
2010 – I give myself an award for starting out with no real backing, attending the greatest number of networking events and training courses.
2011 – secured our first property for conversion to a HMO.
2012 – published my first book and bought our second HMO.
2013 – started speaking at PIN events and sourced three HMOs for my clients.
2014 – Our first buy-refurb-sell project which was also our first joint venture.
2015 – Bought a third HMO and published my second book ‘Cash Rich, Time Rich’.
2016 – Started the J6 Property Meet, bought two more houses for HMO conversions, and incorporated our portfolio, secured planning permission for a bungalow to convert to eight flats.
2017 – Secured development funding for our first ground up project in Reading.
2018 – Started build works in Reading and secured the Watford deal with planning for four flats.
2019 – Complete the Reading new build project and kicked off development in Watford and secured planning permission for a second dwelling on our Bracknell HMO.
2020 – secured planning for a commercial to residential part conversion, part new-build in Surbiton.
The best thing I have done is to create a community of like-minded individuals through the J6 event. I have also met a lot of inspiring peers, mentors and professionals who have helped me get to where I am today. There is a lot of names to mention but I truly believe without a team I would not have made it to where I am today.
In the early years it was difficult to secure investors.
In the latter years it has been challenging to find the right DEALS that stack.
Working with my husband as a business partner has proved to be the hardest part of the journey. After all these years we appreciate each other and play to our strengths. We have complementary skills and that covers the spectrum we need to sustain and grow our business to the next level.
FIVE YEAR PLAN
I would like to grow our portfolio of properties to 100 units (flats/houses/rooms). This will secure a consistent cash flow in the business allowing us to educate our children, help others, pursue a fuller lifestyle and give back to the property community.
Please do connect with me on my home page www.mannichopra.com
LinkedIn & Facebook: Manni Chopra