This was really helpful for me! I'm saving like crazy at the moment to do my first BRRR. It was encouraging to get advice from a very down to earth, young and hard working investor!
I really want to get into property but I live in London and I think we all know what the prices are like.. Wish the prices were like Nottingham, ive got about 40k saved up and im 24 but just wish I lived in a cheaper location
Living in London doesn't necessarily mean you have to buy there. I live in London but am looking for a second property out towards Bristol / Gloucestershire which is cheaper. Looking for somebody to partner up with!
Completely agree, being from London and investing outside London is actually an advantage as lots of people know you will have your funds in place. Im in the same situation but I've heard its a bad time to buy at the moment due to the lockdown. Lots of repossessions going to take place and a high risk of negative equality at the moment.
@@ravsingh1576 When you live in the place you are investing it is a much bigger advantage as you are much closer for viewings etc. you know the areas inside out whether they are good or rough, and also you have all your connections close to you such as builders etc
Brilliant interview Justin. Really enjoyed it. Did you guys shop at the same lighting shop 😉. That's a very similar pendant shade lol. I got great tips from this one. I've heard good things about Nottingham.
@@JustinWilkins that was so funny. Great to have you pick his brain. I have a friend who also invested in Nottingham for a few years not. It good to see young people with the drive and determination to succeed. Keep it up bro. Perhaps you could do a video about JV partners. How to get a JV. Not sure if you have much experience there.
I have 60k saved up and am 22 years old. I’m too scared to take the next step due to lack of knowledge. There’s just too much information to absorb and too many methods and this is literally all the money I have so if I mess up then that’s it I’m screwed. Just want to add that I rent in London with my family and wouldn’t be able to move out plus I don’t currently work (recent graduate looking for a job).
Don’t spend your money on any rip off courses. Just maybe find a mentor someone who’s done it already such as buying a house, a family friend etc. Shop around for good deals, get clued up then take the plunge.
Great video, how many lodgers can you have in a residential you live at? I'm actually going down the residential route and will be taking on 2 lodgers in a 3-bed house, BUT.. supposedly 3 + people unrelated would be considered an HMO? would be great to know where I stand before going forward with this! Thanks
Great video guys. Quick question, he had a resi mortgage, yet let out the other rooms? How did Luigi do this, don't you need to strictly have a BTL mortgage if your renting it out? Just abit confused maybe I missed something?
How did you get finance from lenders considering you don't have a day job? As a lot of lenders are risk averse towards those who don't have a regular income?
I think Luigi managed to secure one or two properties whilst working, and has now made the transition to full time investor. He’s able to secure more recent properties using his property income and from owning other houses. This provides good credit history 🙂
Amazing interview Justin - you had to work for the information you got. You should think about doing a podcast or something as you have a really good ability to keep convo flowing and ask open ended questions Been following since before 1k subs, love watching your journey. I’m similar age to you and everything you put up is so helpful - things that people skip past because they’ve already made it Keep it up 👌
Thanks Lianne! I have definitely considered it actually, and maybe something I will explore in the future. Thank you for watching and supporting my journey from 1k subs :)
I’m afraid that’s not me, it’s RUclips. I checked and I have just x2 added to this video, but RUclips add in adverts if they think they can get away with it! Annoying I know. Thank you for watching anyway
@@JustinWilkins no worries mate I was just annoyed at the time ha I’m not sure how it works just know that it’s annoying when I’m running or cooking dinner etc haha if I pay for RUclips premium or something do you still get ad revenue and I don’t get adverts ? Great content mate
Yes i completely get it! And get annoying watching other peoples videos haha. Yes i still get revenue from the premium accounts as they can see what videos you are watching. Appreciate you supporting my channel and have a good weekend.
How did he make property his full time income though? In terms of getting a mortgage? As I’ve learned that it’s harder to get one with no stable source of income.
I got £24,000 right now at twenty years old, that I gained through saving since I was seventeen and investing in the stock market. I don't aspire to be rich, just to have enough passive income eventually through property to live an easy life full of the experiences I'd like to experience. 4 to 6 properties should suffice 😊
@@JustinWilkins The idea of trying to get two residential properties seems like a great idea, if at all possible for a young guy like me. They could call my bluff. I could do this maybe when I have around thirty thousand I guess, sooner or later after I'm 21. Something to think about. Thanks for the inspiring content.
Hi mate, quick question is Liverpool still a good place to invest? Even with all this covid pandemic? Do you think it will get back to a high level of demand? And still be an up and coming area? Thanks
Hi Tom, thanks for your question. I believe Liverpool is still a great place to invest, I think right now there is lots of interest in Liverpool and prices are slightly inflated... but this doesn't mean good deals can't be found. I am looking for another area to invest, but I will also continue to buy in Liverpool!
Hi there! Thanks for watching. When Luigi says pull out his money, he means that he is refinancing his property and withdrawing the equity / money that he has added to the property value, this means that he can use this money to purchase his next property or repay his joint venture partner. Hope that helps!
Hi justin quick question I am a big fan of your channel and have been following you for quite a while now. So what I dont understand is that he had a 4 bed property lived in one and rented 3 out. Doesn't he need a HMO license for that? Since its more than two people from different families I'm guessing. Secondly, can you even buy a HMO property on a residential mortgage and if so this means you can live in one and rent all three or more rooms? Is this even allowed? If it is it seems to be the best way going forward for me. Please give more Information on this.
Yes thats a good question... unfortunately I didn't ask those in the interview, but I believe he would have had to get an HMO license when renting to that number of people... re the mortgage, I'm not sure how he approached that. But as far as I know there isn't anything stopping you from renting your 2nd or 3rd bedrooms to friends / lodgers aslong as you are the main residential property owner and occupant. Great queries though and worth exploring :)
Good video, but be careful when being a residential landlord, you're only supposed to have TWO lodgers maximum, not three (I'm assuming 3 as he had a 4 bedroom house including him). You just run the risk of breaking of law and being fined. good amount of profit to make, but remember like everything, after £7500 you have to pay residential landlord tax. important to mention these I think.
Yes people thinks it's great but running HMO's are not always easy . I own 2 in west London both where normal residential houses that I converted . I'm only 22. Remember people you are liable for those lives in the house . So please stick to your local councils rules and regulations. Also if possible , try to apply for planning permission to build an annexe in the garden .
Hi Justin, another great video. Starting to become a big fan of yours. During your conversation Joint Venture projects particularly caught my attention. Have a few questions around that for you and Luigi... 1. When you decide to do a joint venture with a silent partner how do you draw up a contract? 2. What is roughly the time frame for a silent partner to get his/er capital back and then profits from the sale of the property? 3. Luigi, I have around 20-30k to invest. Looking to invest as a silent partner. Would you consider going into a joint venture for that sort of amount of investment? If yes I shall be happy be happy to get in touch with you. 4. I understand you are looking for bigger investors and may not find this appealing. Is there a platform I can join where I can connect with investors that are looking to do joint ventures? Thanks
Fantastic interview guys. Really great questions and very interesting answers. Guess property is really the best investment. I just wondered if the current climate affects finding tenents? As I've heard from some people that property is risky at the moment due to high repossession rates and negativity equity. What are your thoughts on that? Thanks
Thanks Rav. Glad to hear you liked it, and enjoyed the questions! Personally I’ve had a good experience with my tenants this year, which I’m really grateful for. I believe Luigi has had a good experience this year aswell. Of course not everyone has been as lucky as us, but you have to be careful where you get your advice from. When times get tough, choosing the right people to listen too can get even harder! 🙂
@@JustinWilkins Very true Justin. Useful tips there. I think everything comes with risk, but taking calculated risk is the key. Do you ever make investments with others or do you prefer to work alone? Just curious. Thank you for your message. Looking forward to the next one. Take care mate.
Well I'll have to take your word for that as I dont know the area :P but regardless, you can't wake away from the fact that Luigi has achieved great things already and taken lots of action! Thanks for watching and hope it was useful
Two residentials? Sounds like BS to me. He doesn’t fill me with confidence at all. Side hustle. Cold calling. By his own account. Ambiguity runs deep with this one. As done arrogance. Viewers beware.
I have to disagree Alex, I have another friend that has managed to secure 2 residential 10% mortgages before - its not strictly the right thing to do, but there are lenders out there who don't ask for certain details when you make a mortgage application. Shame that you didn't enjoy this one, but I don't think a viewers advisory is necessary :) hopefully you will like some of the future guests that I have lined up!
Justin, thanks for responding to my criticism, but it wasn’t at you. I just didn’t trust what he was saying, rightly or wrongly. If something is unethical or illegal, I personally wouldn’t condone that behaviour, never mind boast about it. Keep up the good work though 👍
@@LNCapitalthank you for responding. I’m not a hater, I just am expressing a concern about the message being pass as what you are doing isn’t ethical. You are only able to have one residential mortgage. As you can only live in one property with a residential mortgage. Getting a consent to let (which I myself have done), still only enables you to have one residential mortgage. I’m interested as to how you explained that you live in two houses and what your lenders had to say about it. I expect and wouldn’t be surprised if you never updated the lender yet let the property out. In which case that’s fraud. Unethical and imorale. As previously stated. Please explain how I’m wrong.
@@LNCapital It isn't against the law to have two residential mortgages, many people have second homes with regulated mortgages on them, however the lenders will want to know what your intentions are. And your intentions were to make profit from both. Which is like I have previously said, fraudulent and against the morale code.
Really enjoyed this thanks lads, Justin you're a brilliant interviewer fair play to ya! Keep it up guys!
Thanks Laurence. Really pleased to hear you enjoyed it 👊
This was really helpful for me! I'm saving like crazy at the moment to do my first BRRR. It was encouraging to get advice from a very down to earth, young and hard working investor!
Amazing to hear, thanks for watching Sam!
hey guys welcome back
Hi Samuel. Thanks for watching 👋
I really want to get into property but I live in London and I think we all know what the prices are like.. Wish the prices were like Nottingham, ive got about 40k saved up and im 24 but just wish I lived in a cheaper location
Living in London doesn't necessarily mean you have to buy there. I live in London but am looking for a second property out towards Bristol / Gloucestershire which is cheaper.
Looking for somebody to partner up with!
Completely agree, being from London and investing outside London is actually an advantage as lots of people know you will have your funds in place. Im in the same situation but I've heard its a bad time to buy at the moment due to the lockdown. Lots of repossessions going to take place and a high risk of negative equality at the moment.
@@ravsingh1576 When you live in the place you are investing it is a much bigger advantage as you are much closer for viewings etc. you know the areas inside out whether they are good or rough, and also you have all your connections close to you such as builders etc
@@prankinception5178Great points, I cant argue with those. We should make a network where investors and local people can connect.
@@ravsingh1576 if you ever decide to make a group you should try Reddit
Listen this probs the best video so far from this guy. Alot of inspiration 🙌🏽thank you for doing RUclips I'm greatful
Haha thanks very much! Luigi is a legend and great guest, so I am glad you enjoyed it! Appreciate you watching
Brilliant interview Justin. Really enjoyed it. Did you guys shop at the same lighting shop 😉. That's a very similar pendant shade lol.
I got great tips from this one. I've heard good things about Nottingham.
Thanks for watching! Haha we literally have the same lamp shade 😂 must have both been to the same shop lol
@@JustinWilkins that was so funny. Great to have you pick his brain. I have a friend who also invested in Nottingham for a few years not. It good to see young people with the drive and determination to succeed. Keep it up bro. Perhaps you could do a video about JV partners. How to get a JV. Not sure if you have much experience there.
Yes!!! Was literally thinking earlier why ain’t Luigi dropped a video yet and then this shows up in my feed
Haha! Pleased you liked it Daniel. Luigi was a great guest, and an inspiration for many
I have 60k saved up and am 22 years old. I’m too scared to take the next step due to lack of knowledge. There’s just too much information to absorb and too many methods and this is literally all the money I have so if I mess up then that’s it I’m screwed. Just want to add that I rent in London with my family and wouldn’t be able to move out plus I don’t currently work (recent graduate looking for a job).
Don’t spend your money on any rip off courses. Just maybe find a mentor someone who’s done it already such as buying a house, a family friend etc. Shop around for good deals, get clued up then take the plunge.
JV with someone first:)
60k saved up @ 22? When did you start saving up? When you were still in the womb? Or have you inherited that from your dead aunt or something?
Great video, how many lodgers can you have in a residential you live at? I'm actually going down the residential route and will be taking on 2 lodgers in a 3-bed house, BUT.. supposedly 3 + people unrelated would be considered an HMO? would be great to know where I stand before going forward with this! Thanks
Please answer this just @justinwilkins
Great video guys. Quick question, he had a resi mortgage, yet let out the other rooms? How did Luigi do this, don't you need to strictly have a BTL mortgage if your renting it out? Just abit confused maybe I missed something?
Nothing wrong with having lodgers if you yourself are living in that Resi
HMO license needed if more than 2 lodgers living with you
@@aheujjdod5178 perfect, thank you so much for your helpful reply, much appreciated 😎👍 merry Xmas too 🎅
@@FSshizz no worries mate! Merry Xmas to you also :)
How did you get finance from lenders considering you don't have a day job?
As a lot of lenders are risk averse towards those who don't have a regular income?
I think Luigi managed to secure one or two properties whilst working, and has now made the transition to full time investor. He’s able to secure more recent properties using his property income and from owning other houses. This provides good credit history 🙂
Amazing interview Justin - you had to work for the information you got. You should think about doing a podcast or something as you have a really good ability to keep convo flowing and ask open ended questions
Been following since before 1k subs, love watching your journey. I’m similar age to you and everything you put up is so helpful - things that people skip past because they’ve already made it
Keep it up 👌
Thanks Lianne! I have definitely considered it actually, and maybe something I will explore in the future. Thank you for watching and supporting my journey from 1k subs :)
As a 15 year old in Nottingham interested in property, this man is definitely my biggest inspiration.
Luigi is a great inspiration and grafter!
@@JustinWilkins Love the work you guys do! great video as per usual.
Decent sized deals. Good guest ✌️
Great size property deals, and all of them by the age of 25!
Way to many adverts kid it’s no good when you don’t have the phone near you there playing ads back to back every few minutes
I’m afraid that’s not me, it’s RUclips. I checked and I have just x2 added to this video, but RUclips add in adverts if they think they can get away with it! Annoying I know. Thank you for watching anyway
@@JustinWilkins no worries mate I was just annoyed at the time ha I’m not sure how it works just know that it’s annoying when I’m running or cooking dinner etc haha if I pay for RUclips premium or something do you still get ad revenue and I don’t get adverts ? Great content mate
Yes i completely get it! And get annoying watching other peoples videos haha. Yes i still get revenue from the premium accounts as they can see what videos you are watching. Appreciate you supporting my channel and have a good weekend.
How did he make property his full time income though? In terms of getting a mortgage? As I’ve learned that it’s harder to get one with no stable source of income.
Very interesting video gents. A few things I hadn’t heard of before such as the article 4 and the 2 resi mortgages. Appreciate it! Gary
Cheers Gary! glad it was useful
I got £24,000 right now at twenty years old, that I gained through saving since I was seventeen and investing in the stock market. I don't aspire to be rich, just to have enough passive income eventually through property to live an easy life full of the experiences I'd like to experience. 4 to 6 properties should suffice 😊
That’s a great goal to have William, and with that mindset and attitude, I’m sure you’ll get there!! Keep learning, saving and investing 👏
@@JustinWilkins The idea of trying to get two residential properties seems like a great idea, if at all possible for a young guy like me. They could call my bluff. I could do this maybe when I have around thirty thousand I guess, sooner or later after I'm 21. Something to think about.
Thanks for the inspiring content.
@@williamhadley549 what platform/ S&S do you use?
@@Lee-ii9mk Trading 212 atm. I do have some money in Fidelity too
You should a podcast
Haha not a bad idea!! 💡 thanks for watching
Really informative and just stripped back explanation, thanks
Justin great video 👍
Thanks Ben! Appreciate it
Hi mate, quick question is Liverpool still a good place to invest? Even with all this covid pandemic? Do you think it will get back to a high level of demand? And still be an up and coming area? Thanks
Hi Tom, thanks for your question. I believe Liverpool is still a great place to invest, I think right now there is lots of interest in Liverpool and prices are slightly inflated... but this doesn't mean good deals can't be found. I am looking for another area to invest, but I will also continue to buy in Liverpool!
Thanks for the advice top man i wish you great success 💪
Great interview
Thanks Craig! Appreciate you watching
Well done he’s a do man not a dream man reminds me of me years ago when. I started
Absolutely. Pure action taker!
When he says pull out the money, what does he mean?
Hi there! Thanks for watching. When Luigi says pull out his money, he means that he is refinancing his property and withdrawing the equity / money that he has added to the property value, this means that he can use this money to purchase his next property or repay his joint venture partner. Hope that helps!
Hi justin quick question I am a big fan of your channel and have been following you for quite a while now.
So what I dont understand is that he had a 4 bed property lived in one and rented 3 out. Doesn't he need a HMO license for that? Since its more than two people from different families I'm guessing.
Secondly, can you even buy a HMO property on a residential mortgage and if so this means you can live in one and rent all three or more rooms? Is this even allowed? If it is it seems to be the best way going forward for me. Please give more Information on this.
Yes thats a good question... unfortunately I didn't ask those in the interview, but I believe he would have had to get an HMO license when renting to that number of people... re the mortgage, I'm not sure how he approached that. But as far as I know there isn't anything stopping you from renting your 2nd or 3rd bedrooms to friends / lodgers aslong as you are the main residential property owner and occupant. Great queries though and worth exploring :)
This is great, thanks Justin! What software did you use to do the interview. Like zoom or skype?
Thanks very much for watching. It was recorded on zoom 👍
Good video, but be careful when being a residential landlord, you're only supposed to have TWO lodgers maximum, not three (I'm assuming 3 as he had a 4 bedroom house including him). You just run the risk of breaking of law and being fined. good amount of profit to make, but remember like everything, after £7500 you have to pay residential landlord tax. important to mention these I think.
Thanks Matthew, valid points and definitely worth mentioning. Thanks for watching
Yes people thinks it's great but running HMO's are not always easy . I own 2 in west London both where normal residential houses that I converted . I'm only 22. Remember people you are liable for those lives in the house . So please stick to your local councils rules and regulations. Also if possible , try to apply for planning permission to build an annexe in the garden .
Hi Justin, another great video. Starting to become a big fan of yours.
During your conversation Joint Venture projects particularly caught my attention. Have a few questions around that for you and Luigi...
1. When you decide to do a joint venture with a silent partner how do you draw up a contract?
2. What is roughly the time frame for a silent partner to get his/er capital back and then profits from the sale of the property?
3. Luigi, I have around 20-30k to invest. Looking to invest as a silent partner. Would you consider going into a joint venture for that sort of amount of investment? If yes I shall be happy be happy to get in touch with you.
4. I understand you are looking for bigger investors and may not find this appealing. Is there a platform I can join where I can connect with investors that are looking to do joint ventures?
Thanks
Not sure how he would get around the high taxation by going down the “residential” route as none of the costs would be tax deductible
Fantastic interview guys. Really great questions and very interesting answers. Guess property is really the best investment. I just wondered if the current climate affects finding tenents? As I've heard from some people that property is risky at the moment due to high repossession rates and negativity equity. What are your thoughts on that? Thanks
Thanks Rav. Glad to hear you liked it, and enjoyed the questions!
Personally I’ve had a good experience with my tenants this year, which I’m really grateful for. I believe Luigi has had a good experience this year aswell. Of course not everyone has been as lucky as us, but you have to be careful where you get your advice from.
When times get tough, choosing the right people to listen too can get even harder! 🙂
@@JustinWilkins Very true Justin. Useful tips there. I think everything comes with risk, but taking calculated risk is the key. Do you ever make investments with others or do you prefer to work alone? Just curious. Thank you for your message. Looking forward to the next one. Take care mate.
I think this was a good video very honest, easy to understand. A good guest to have.
Thanks Lindsay. Yes Luigi was a great guest!
Great chat and awesome information guys
Thanks for watching Preston! Glad you liked it 🙏
Great episode mate! Full of info and inspiration!
Pleased to hear it. Cheers for watching Calum!
love the video bro!
Thanks Omid!
Like 👍 video 👏👏👏
Thank you 👍
This is great insight, nicely done justin!
Thanks Peter!
400k you must be joking radford Boulevard put it on the market let’s see your offers you get
Well I'll have to take your word for that as I dont know the area :P but regardless, you can't wake away from the fact that Luigi has achieved great things already and taken lots of action! Thanks for watching and hope it was useful
@@JustinWilkins go on rightmove put in radford boulevard Ng7 show me what sold for 400k like he’s saying a property sold for that amount.
@@JustinWilkins did you find it
@@zahirmalik3365 it doesn’t have to sell for that it just has to be valued at that there’s a difference
Whatever
Same deco, same lights. :D
Haha clearly the same taste is decor!
😎😎😎
Thanks for watching!!
What was the name is the management company he mentioned that he uses?
Slater and Brandley :)
@@LNCapital thank you good sir 😎
Two residentials? Sounds like BS to me. He doesn’t fill me with confidence at all. Side hustle. Cold calling. By his own account. Ambiguity runs deep with this one. As done arrogance. Viewers beware.
I have to disagree Alex, I have another friend that has managed to secure 2 residential 10% mortgages before - its not strictly the right thing to do, but there are lenders out there who don't ask for certain details when you make a mortgage application.
Shame that you didn't enjoy this one, but I don't think a viewers advisory is necessary :) hopefully you will like some of the future guests that I have lined up!
Justin, thanks for responding to my criticism, but it wasn’t at you. I just didn’t trust what he was saying, rightly or wrongly. If something is unethical or illegal, I personally wouldn’t condone that behaviour, never mind boast about it. Keep up the good work though 👍
@@LNCapitalthank you for responding. I’m not a hater, I just am expressing a concern about the message being pass as what you are doing isn’t ethical. You are only able to have one residential mortgage. As you can only live in one property with a residential mortgage. Getting a consent to let (which I myself have done), still only enables you to have one residential mortgage. I’m interested as to how you explained that you live in two houses and what your lenders had to say about it. I expect and wouldn’t be surprised if you never updated the lender yet let the property out. In which case that’s fraud. Unethical and imorale. As previously stated. Please explain how I’m wrong.
@@LNCapital It isn't against the law to have two residential mortgages, many people have second homes with regulated mortgages on them, however the lenders will want to know what your intentions are. And your intentions were to make profit from both. Which is like I have previously said, fraudulent and against the morale code.
@@alexmartyniuk1863 Alex the kind of guy to tell the gestapo where Anne Frank is hiding