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peterwilliams

24 Years Old and Financially Free.

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Hello, 

My name is Peter Williams (24 years old, Male) from Newport, South Wales.

I am financially free because of property. But we will get to that later. 

First;

The Trust

Back in 2008 my father sold a house in Cornwall and was in a well enough position to purchase 6 properties in Newport by spreading £210,000 6 ways on mortgages.

He put these 6 houses into a TRUST which at the time was the best thing to do. The houses now are worth over 30% more in value since 2008 making great capital gains and each house is pulling in over £600pcm!

This trust is split between myself, my brother, and my sister. 

 

Early Journey

16 years old, I started in a Joinery workshop as an apprentice learning my trade. After 3 years of making tea and getting dusty, I packed up my bags and went travelling around the world at 18. 

As time flies, I soon found myself landing back on home soil, needing a job - something I enjoyed and wanted to wake up for.

I saw the life that my father had built for him and my mother, a portfolio of 35 rental properties. It was a dream and I was old enough to understand how it worked. (mainly he sat around and got paid passively while he went on holidays and played golf...). I wanted this lifestyle but I had to learn the industry first.

 

The start of my career

My new goal = BECOME AN ESTATE AGENT

I went to interview after interview with no luck. I had no experience making it difficult for me to compete with the other applicants. After what felt like 1000's of interviews I was finally offered a Sales Negotiator position in a large Estate & Lettings Agency in South Wales with 14 offices. 

It was one of the best days of my life and I could not WAIT to start!

After some intense months of training I swiftly picked up the format and processes of selling properties and started to get slightly bored... I wanted more, I wanted to not only sell the houses but value and list them too. My manager agreed. 

Back to the training!

Another few intense months of training and mistakes made, I became the Senior Neg of the branch, I was touting for business, booking valuations and closing the deals. I was loving it! By the time I turned 21 Years old, my manager left the branch to move away.

I saw an opportunity arise. 

I called a meeting with the CEO of the business, boy was it nerve-racking but I wanted it so badly. He came in branch to see me. I showed him my performance reports and I said 'I want the branch manager role'. Ok, yes I was young but I was hungry! He set me targets over a 2 month period as a 'test'. With a lot of determination and hard work I hit those targets and landed the BRANCH MANAGER ROLE AT 21!

2017 - I ready for more

I had exceeded in the company I was working for and got to poll position. I started looking into other things to make some cash like Crypto currency. I was one of the lucky ones who walked away from Crypto Trading with a large sum of cash (£80,000+).

I packed in my Estate Agency job and went to a couple of seminars about Property Trading and Sourcing. I got the bug. 

2018 - I started sourcing, buying and refurbishing properties

In January 2018 I started my company in Sourcing and started to buy run down properties for myself and investors. After connecting with some old construction pals, I soon formed a contracting team (who are extremely good at what they do). This means I can now do any project I set my eyes on with ease, as long as the figures stack!

 

2020 - Achieved

Fast forward a couple of years, 3 Trust Buy To Let houses brining a gross of £1800pcm - I have many more planned to be bought for this year! My biggest struggle's have been getting finance from banks to purchase more buy to lets. 

The struggles I have right now is finding the deals in which we could see a £20k/£30k+ profit. 18 months ago, there were many sitting around waiting to be bought. In todays climate, when they come up, they are being snapped up immediately.

Where it was so easy to book a viewing, lowball the vendor and buy the property, it is now a battle between new sourcing agents and local builders that can pay that little bit extra. 

I have now sourced over 15 deals and have overseen the project management of 7 full refurbishment properties.

I love the work, I love getting paid for something I enjoy.

 

So thats a little insight into my life, if anyone has any questions, I am here :)

 

Regards,

Peter 

Edited by T J
Moderated by PH Team

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Hello Peter

Firstly congratulations on your feat. Its no easy job to become financially independent at your age. You mentioned 3 properties towards the end. Are these the properties you bought? What sort of properties are these? Did you do any work on these, what are your learnings from doing the projects?

All the best

Vinay

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Hi Peter
Sounds like an impressive journey. I too am from Newport and am looking to invest in the area. Do you still source properties for investors?
best
Gareth

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16 hours ago, garethc said:

Hi Peter
Sounds like an impressive journey. I too am from Newport and am looking to invest in the area. Do you still source properties for investors?
best
Gareth

 

Hello Gareth! 

Yes still sourcing for investors, if you want a chat my email is peter@elitepropertysourcing.com or mobile number is 07794944320. 

Maybe we can meet for a coffee when we both get a free slot in the week! 

 

Peter 

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