NOVEMBER 10th 2016
Glenn - multi industry success story
After video, taxis and computer games Glenn turned his mind to properties.
He started buying properties to rent out (now called buy-to-let). However, after buying six properties, his capital of circa £120k was all tied up in deposits and it was looking as though thoughts of building a large property portfolio might be thwarted.
But strongly believing that where there’s a will there’s a way, Armstrong set about studying the property market, the legal framework and the mortgage market and came to discover that there were much more advanced strategies that could be employed to buy properties. Fully legal strategies, acceptable to the mortgage lenders, which required far less capital per property. (Armstrong points out to his property students, that the legal and mortgage landscape was of course very different to that in our current times of austerity, such techniques would not work today).
With his creative investment strategies, Armstrong figured that if he worked at it really hard he ought to be able to buy one property a week. So he set himself the target of buying 52 properties in 52 weeks, a target that, in fact, he achieved in just 48 weeks. “So I gave myself the rest of the year off,” he quips! Adding that there were in fact only four weeks of the year left.
With his family’s future now secured, Armstrong could have sat back and simply lived on the rental income, but that is not the measure of the man.
As he happily confesses, he’d got the property bug and states that he wouldn’t have believed it possible to have so much fun and earn money at the same time. A claim he still makes today.
“Property has never once felt like work,” Armstrong says,” and it’s highly intellectually challenging too, with lots of time spent constructing finance deals and consulting accountants and barristers to make sure we’re always on the right side of the very complex laws relating to properly and finance.”
Come along and find out about Mortgage interest rate swaps and selling rooms in London from the man that has done it.
18:30 – 18:59 ARRIVAL
19:00 – 19:10 GREETING AND POWER NETWORKING (SHARP)
19:11 – 20:30 SPEAKER
20:31 – 20:40 PRIZE DRAW
20:41 – X NETWORKING IN THE BAR
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