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An entrepreneurial landlord has simply purchased her fourth buy-to-let property and began her first property company by scrimping and saving since she was a teen.
Rachel Ollington (predominant pic), 41, bought her first home aged 19, her second at 23 and a 3rd at 24 after leaving college at 16, first by saving money from her £100-a-week property company job.
She and husband Mike who’re based mostly in Wickford, Essex, now personal properties price £990,000 after paying £592,000 for them – and have their sights set on shopping for much more buy-to-lets.
Ollington, who skilled as a mortgage advisor in 2020, saved laborious as a teen then continued to tighten her belt with a younger household. She later went on to work for a number of property businesses together with Sarah Beeny’s agency Tepillo.
The couple first put down a £37,000 deposit on a £91,000 two-bed bungalow in Wickford, renovated it, then offered it for £187,000 – raking in almost £100,000 in revenue.
Different purchases had been funded by doing DIY and repairs themselves, upcycling and making second-hand purchases. They now reside in a four-bedroom home price £475,000 which they purchased for £183,000.
Assist individuals
“I’ve a rental property portfolio and co-own an property company enterprise, which individuals have mentioned we had been mad to start out in the course of the recession, however I actually need to assist individuals to do the identical as me,” she advised Mirror On-line.
Ollington’s property agency boasts 11,000 followers on Instagram and goals to get others onto the property ladder. She advises buyers to maintain in touch with their mortgage dealer to maintain on high of obtainable finance offers.
She provides: “Discover a property you are able to do work to, or one which’s outdoors of your key space corresponding to not being close to a station as the home costs will likely be cheaper.”
Pic credit score: Rachel Ollington/eXp
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