Couple turns their property portfolio into retirement nest egg
Malcolm Wilson, 47, Engineering and Management Consultant in the Rail Sector.
Malcolm Wilson would probably say that he fell into Property Investment by accident. By 1999, having moved jobs a couple of times and let out his previous house behind him, Malcolm had accumulated a couple of rental properties. Realising that property could provide the passive income and financial freedom he desperately wanted he and his wife Suzy had assembled a portfolio of five properties by 2005. Then he became stuck! The portfolio wasn’t yet large enough to provide a retirement income and yet the repayment type bank loan already required extra cash every month. Adding more properties would simply mean more stress on the couple’s finances. Malcolm couldn’t see a way forward and felt like he was on a hamster wheel!
In 2011, Malcolm and Suzy’s property experience turned a significant corner. Malcolm was introduced by chance to Midas Estates whom he quickly realised had knowledge and expertise that he was missing. Although sceptical by nature Malcolm probed the Midas team and became excited at the possibilities available from the existing portfolio given the right expert advice. The Midas team set to work, restructuring the existing portfolio, switching to interest-only mortgages and releasing equity as a deposit for no fewer than three more properties. They showed Malcolm and Suzy how they could help them build the portfolio to provide a nest egg for retirement – without requiring constant topping up with cash.
Malcolm’s confidence in his investment portfolio grew, helping him to overcome his scepticism and he quickly became happy to let Midas handle everything. Research into his and Suzy’s next purchases took into account vital factors such as location, amenities, demand for rental property, and confidence in good capital growth – exactly the priorities on Malcolm’s list, and all the while freeing up time for Malcolm to concentrate on his day job. He realised his portfolio could be productive, low-stress and fun despite his having limited time and knowledge.
Now Malcolm and Suzy have a portfolio of eight properties, including a show home, flats in Bristol, London and Newquay, and a solid retirement plan! The last 18 months has been a lot easier than the previous 17 years! Malcolm’s long term plan is to continue to build his portfolio, working closely with Midas who will monitor his investment and help him ensure that it continues to perform and build his retirement fund.
“If you too would like to start and grow a property portfolio like Malcolm and Susie please contact IAN CLARK AT MIDAS ESTATES ON 07768 094482 FOR FREE ADVICE OR VISIT THE WEB SITE WWW.MIDASESTATES.COM”