Plan B - From working in B&Q to £53m in a 10 years

[fzbucks]

His story is often emailed around by these financial spreadbetting is the answer type companies

[sasguru]

Some dare and win. Some do the same and lose. Stupid to imply that daring is all it takes.

It's all random.

HTH

[Methuselah]

The buy-to-let landlord
...
He who dares Rodders, he who dares.

Some dare and win. Some do the same and lose. Stupid to imply that daring is all it takes.

[Clippy]

And here is the man himself: http://www.gregheywood.co.uk/

[DimPrawn]

Property must be the only game where you count as a "millionaire" when you've got £1,000,000 assets and £950,000 debts.

It's great isn't it? Borrow £53M and become John Smith aged 40, worth £53M, overnight.

[thunderlizard]

Property must be the only game where you count as a "millionaire" when you've got £1,000,000 assets and £950,000 debts.

[Lucy]

DP = Del Boy.

You know it makes sense.

[DimPrawn]

The buy-to-let landlord

Greg Heywood, 41, from Liverpool, owns 150 properties worth £53 million. But he hasn't always been this wealthy - in fact, 10 years ago he was sleeping on his mate's floor. "I had been through a messy divorce, which had left me saddled with debts that I couldn't repay, my bank had closed my account and I was being threatened with jail," explains Greg.

He was working at B&Q and decided to throw himself into his job, which resulted in several pay rises. "I started to repay my debts and get back on track," says Greg. "I'd really hit rock bottom, so I vowed that I would be rich enough to have a £1 million annual income by the time I was 40."

Three years after his divorce, Greg was able to take out a mortgage and bought a small property in Brackley, Northamptonshire for £80,000. He sold it shortly after and made £26,000 profit.


Risky business

"I started to move quite quickly after that and went on to buy property after property, stretching myself to the hilt and taking huge risks." Soon Greg owned 12 properties in Milton Keynes, which he rented out. "I kept going at an aggressive pace, with the view that if I was going to go bankrupt for £2 million it might as well be for £20 million."

Greg says commitment is the key to his success. "Managing property takes a lot of hard work. I know of landlords who sell up because they can't keep up with their tenant's demands. But it's a two-way relationship and I think success is about providing a valuable service to tenants. It's very demanding, but it's also great fun."


He who dares Rodders, he who dares.