In this episode, Emma interviews Richard Leonard, a seasoned property investor with over 30 years of experience and a portfolio worth £4.2 million. Richard shares his inspiring journey from a side hustle in property to becoming an HMO (House in Multiple Occupation) expert, driven by personal challenges and a desire for financial freedom. He discusses the intricacies of managing a growing portfolio, the lessons learned from his experiences, and the significance of providing high-quality living spaces for tenants.
KEY TAKEAWAYS
A significant life event, such as a child's illness, can serve as a powerful catalyst for change, pushing individuals to pursue their passions and make bold decisions in their careers.
Specialising in high-end Houses in Multiple Occupation (HMOs) can lead to better tenant retention and satisfaction, as well as higher rental income. Creating a desirable living environment is key to attracting quality tenants.
Building strong relationships with contractors, HMO officers, and tenants is crucial for success in property management. Effective communication and collaboration can streamline processes and enhance tenant experiences.
Implementing a proactive approach to tenant management, including quick responses to issues and incentivising referrals, can help maintain low vacancy rates and foster a positive community within properties.
The property investment landscape is ever-changing, and staying informed about market trends, regulations, and best practices is essential. Embracing a mindset of continuous learning can lead to long-term success in the industry.
BEST MOMENTS
"I think there's two. Obviously my family. That's my big why. I do it for them. But I also do it for myself."
"I guess part of it is, you know, we've sort of everything we've done since, you know, sort of 2012 has really been focused on HMOs."
"I think a lot of people are scared off by, oh, it's too difficult. There's too many moving parts. It's not. It really isn't."
"You can't manage an HMO laying on the beach. You've got to be there, you've got to be present."
"I always think it's like, you know, playing rugby. Anyone who says, oh, you could just get into property investing, it's all play-saving, forget it."
RECOMMENDED BOOK:
HMO Renovation and Refurbishment Success
https://amzn.to/3IglffV
HOST BIO
Emma Howitt is a seasoned property coach, mindset expert, and entrepreneur with many years of experience in transforming lives through property investing. From building and selling a thriving Rent-to-Rent Service Accommodation business to acquiring a £1 Purchase Lease Option and converting it into a 16-studio apartment hotel, Emma has consistently demonstrated her ability to turn opportunities into success.
With a background in sales and marketing for global brands like L’Oréal and Red Earth, Emma brings a unique blend of strategic thinking and real-world experience to the property world. She is passionate about helping professionals break free from limiting beliefs, overcome fear, and take bold action to achieve financial freedom.
Through her empowering and practical approach, Emma has coached countless individuals to redefine their futures. Her expertise, authenticity, and proven results make her the go-to authority for transforming mindsets and unlocking property success.
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This Podcast has been brought to you by Disruptive Media. https://disruptivemedia.co.uk/