Buy To Hold To 5* Star, Booked Up Serviced Accommodation
Ingrid and Andy Travis are experienced property investors with over 15 years of experience behind them. Since being introduced to Paul Smith and Touchstone Education five years ago, their property journey has been remarkable.
In this week’s Success Story, we spoke to Ingrid about her latest investment...
“Property Investing Has Allowed Us To Quit Our Jobs And Travel The World”
Ingrid’s property journey had begun in the 2000s, but she told us “We started in earnest in 2017 and we had our first introduction to Paul Smith and the Touchstone team. Since then we’ve built a portfolio, which has enabled us to quit our day jobs and we are now splitting our time between the UK and travelling the world around 6 months of the year.
“We did some training with Touchstone but were initially apprehensive about getting into the Serviced Accommodation business, until 12 months ago, when we realised we were travelling around the UK too much between our portfolio and looking at properties in the North, and paying for AirBnB’s to view properties, more often than not.
“At that point we decided we should dip our toes in the water and picked a few areas in the middle of our portfolio to look at and came up with the Peak District, settling on Bakewell for obvious reasons.”
Significant Bookings And 5* Star Reviews
We asked Ingrid about the challenges of the refurbishment.
She continued, “Getting contractors in the area was more difficult than we’ve ever experienced due to the rise in demand from people improving their own homes. We still had to buy under auction conditions and the conditions were Modern Method (MMA). This gave us the advantage of purchasing with a mortgage as long as we completed in 56 days. However, trying to complete during Covid within 56 days nearly broke us, but we finally got over the line even though we stretched the 56 days.
“Currently it’s up and running as Serviced Accommodation and while it only went on the Online Travel Agent’s (OTA) in November, we have 6 bookings before Christmas at 3 nights minimum, with night rates between £130 and £155 per night.
“The first few guests have left 5* reviews so we are pleased so far. We have ongoing challenges of course, but it looks promising and we now have somewhere to stay when we are back from travelling and need to view our next projects.”
What Can Touchstone Education
Do For You?
If you're inspired by Ingrid's journey and would like to learn more about starting your own Serviced Accommodation portfolio, Paul Smith’s Serviced Accommodation Success Manual includes all the tools you need to start building your serviced accommodation portfolio.
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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