James Murphy’s success story is a true testament to the power of creative property strategies in building a high-cash-flow property business. Starting with very little to his name, James and his wife Stephanie moved from Australia to the UK in 2017 to build a new church in the Birmingham community. However, after a few months, they quickly realized they were running out of savings.
Determined to avoid financial disaster, James and Stephanie discovered the concept of Rent-to-Rent in the short-term rentals/service accommodation business from a friend. They decided to take the leap and start their business with £5,000 in savings and a £10,000 loan. They spent £5000 on a coaching program and £10,000 to acquire two 1-bedroom apartments in Sheffield and a property in Cambridge that needed a lot of work.
Initially, James and Stephanie’s cash flow situation left them struggling to cover expenses. However, after month 3, their risk started to pay off, and they were earning healthy profits from each unit. By the end of 2019, they secured a deal that changed their lives – a lease option on 11 flats that created 6-10k of profit for them every month.
From there, James and Stephanie made acquiring multi-unit deals their full-time focus. They added 10-25 units to their portfolio every month without needing to spend exorbitant amounts of cash. A few short years later, they scaled to 400+ units in multiple countries and 100+ staff.
So, how did James and Stephanie achieve such incredible success so quickly?
Firstly, James and Stephanie invested in coaching and mentorship, spending £5000 on a program to jumpstart their business. This investment paid off tremendously, providing them with the guidance and support they needed to navigate the challenges and obstacles of building a successful business.
Secondly, James and Stephanie leveraged creative property strategies like Rent-to-Rent to build their portfolio without owning any properties. This allowed them to scale their business quickly and efficiently without property ownership’s high costs and risks.
Thirdly, James and Stephanie isolated their focus. Making acquiring multi-unit deals their sole focus allowed them to add 10-25 units to their portfolio every month. This scaled their business rapidly and generated significant cash flow without excessive spending and it was only possible because they refused to split their attention.
In summary, James Murphy’s success story is a powerful example of what’s possible when you invest in coaching and mentorship, leverage creative property strategies, and focus on acquiring multi-unit deals. For tips and techniques on how you can create a high-cash-flow property business of your own, check out James’ Instagram account.