Recovering From Setbacks And Misfortune To Become A Successful Full-Time, Multi-Strategy Property Investor
From being unable to sell the family home to being on the receiving end of the 2007 UK floods, Beth Bird has overcome significant setbacks in her 30 years of property investing.
Following guidance from Touchstone Education’s Paul Smith and Andrew Bartlett, she has been able to strengthen her knowledge of property investments which has allowed her to quit her job as a delivery driver and become a property investor full-time.
We spoke to Beth to find out about her remarkable story…
30 Years Property Investment Experience
“I’ve always loved property and over the years with my husband we have enjoyed renovating our homes,” Beth began.
“We bought a mixed use property over 30 years ago, creating a hair salon on the ground floor, for my husband’s business. Above this, we have a one bedroom apartment that we have rented to the same tenant for 11 years.
“I admit that I rush into things and that’s not always the best, especially with property. I did once buy a house abroad and because the prices were rising fast I didn’t have time to fly out. I bought the property off plan without seeing it, so imagine my horror when I did fly out to be greeted with a plot of land but no property.
“I did get the property two years later and we enjoyed lots of wonderful family holidays afterwards.
“On 25th June 2007, our newly renovated Edwardian home was destroyed by the unprecedented floods that hit the UK. On the 26th June, our renovations began. I was two months pregnant living in temporary accommodation, but was back home and settled a month before our son, Theo, was born.
“After the death of my parents I (and my brother) inherited a small, 300-year-old cottage. It was full of rising damp and was in a 1970’s time warp. It was a difficult property for me to tackle from an emotional perspective and with my brother, living four hours away in South Wales, with no interest in property, we decided to sell.
“After 12 months of no interest and ongoing costs of keeping an empty property, we were offered significantly below market value on the property by a developer. It was at that point that I thought ‘no way… I will renovate this project myself’.
“It was an epic project for me and involved stripping the whole house back to its original structure so that we could start again. What I didn’t expect to find was a house within a house; an original one storey timber structure that had been encased by the two storey cottage. One side of the house collapsed and I lost the staircase, not one of my best days!
“Six months later, though, the house was finished and looked fabulous. Ironically, we sold to a builder, who loved my renovation. My brother and myself had been forced to invest heavily in an unsaleable, inherited property that was an emotional rollercoaster too, but we walked away with a profit.
“Within a few months, I had fallen in love with a barn in a farming hamlet and that’s where we live now as we continue to put our stamp on it.
“Joining Touchstone Education has been incredible for me. The support and help that I have been receiving means that I can now make the right property choices.”
Touchstone’s advice and diversifying property strategies
Beth continued, “After joining Touchstone I applied to the council to convert one side of my barn into serviced accommodation. The work on this is underway and nearing completion. I also took Paul Smith’s advice and moved my pension off the stock market, parking the money in my existing Self-Invested Personal Pension (SIPP). Taking immediate action saved me around £60,000, so I am grateful to Paul. I am currently using the funds in my SIPP to buy a One Stop Mini Market and am anticipating the transaction to complete within the next few months.
“At the same time, making it three strategies at once, I bought a BMV property that had been empty for three years. It was full of rising damp and didn’t have a kitchen. The challenge was to keep the vendor happy with a quick completion or she threatened not to sell. Smith Benedict Solicitors were epic and worked so efficiently that everything ran smoothly and within three weeks of viewing the property, I was starting the renovation.
“After eight weeks and completing a full refurbishment, including the tanking of the ground floor and damp proofing, a new central heating system and a new kitchen, I have made a tidy profit of £30,000.”
Becoming A Full-Time Property Investor
Beth concluded, “After attending the Deal Clinic event in Manchester and meeting Andrew Bartlett, I realised that I wanted to gain more knowledge in commercial conversions. Using the newly made profit from my Buy, Refurbish, Refinance (BRR) property, I am starting a 12 month mentorship program with Andrew, starting in May.
“My goals are to keep getting educated, to surround myself with like-minded people and to carry on believing in myself and encouraging others to do the same.
“I am content with my progress over the last seven months, leaving my job as an Amazon delivery driver and falling head over heels in love with property.”
What Can Touchstone Education
Do For You?
If you're inspired by Beth's journey and would like to learn more about getting started in the property investment game through property flipping, Abi Hookway’s Flip or Flop: The Ultimate Guide to Property Flipping includes all the tools you need to start building your property portfolio in as little as 6 months. And, we’re giving you a copy for nothing!
Don't wait for tomorrow to build the life you've always dreamed of. Start today, and let us guide you every step of the way. Your future self will thank you.
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