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Property Investment Case Study: Ann Rankin

Ann was looking to start and grow a property portfolio and own around 4 properties by investing approximately £130,000.

“I have been immensely impressed with GPS and Gary.
When you’re starting out in the property ownership/landlording world it can be daunting and there is a temptation to procrastinate.
Gary was the voice of reason and has helped me immensely both in finding the right property and basically dealing with everything for me while I get on with other things.””

GPS helped Ann initially clarify a number of points, namely to understand why Ann was about to invest in property and to ensure that it was the right thing for her. Gary met with Ann and outlined all the pros and cons (yes there are some!) of becoming a landlord so that she could take this huge decision with all the relevant information and without any shocks.

Ann quickly realized that property was the right thing for her, especially as she no longer had to do this on her own and had someone in GPS to be by her side at all times.

Gary quickly began to identify properties that would suit Ann’s requirements and viewed a number of them on her behalf. After this, Gary narrowed the search down to a few properties and invited Ann to come and look. On the viewings, Ann had a number of questions that were answered there and then. This was because having already viewed/ researched the properties and along with a great understanding of what Ann was looking to achieve, Gary was able to provide her with the answers immediately.

The properties that Ann purchased came from a variety of sources, one that particularly stands out was a referral to GPS from a private source. This was a fantastic semi detached property that had an open market value of around £90,000 (or so we thought). The property was secured at a price of £75,000 and all parties were happy and would be completed in around 4- 6 weeks. This was particularly important for the owners as one of the things they didn’t want was people traipsing through their house with loads of viewings being done. We ensured that after two short viewings they received an acceptable offer that they knew, with confidence, they could plan for their next stage in life.

At the time of purchase, we advised Ann to purchase this property with the cash she had available and then take a mortgage 6 months later. This was because we knew there was a good amount of value and that value could also be added by a few remedial works such as a new bathroom.

Ann followed our advice and completed on this property on a Friday. Within one week, the property attached to hers came on the market for a staggering £115,000! We thought this was massively overvalued but it did sell around 6 months later for in excess of £100,000. Ann then re- financed hers and was able to draw out the majority of the money she put in, meaning that she owned this property with virtually no money of her own. More importantly, she was then able to continue to grow her own portfolio as she had recycled her money.

Ann has now grown her portfolio comfortably and in a timely manner to 5 properties (more then she originally planned). In addition and very importantly, she’s still got room to grow her portfolio by a further 2 or 3 properties as she didn’t have to use all of her initial capital.

Ann has also been a great advocate of Gary/ GPS and referred us to many of her family and friends for property investment advice.

As Ann said herself:

“It’s safe to say I would not have progressed so well without the help of Gary and GPS- and I will continue to use them as I look to increase my portfolio.”

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