2023-11-10 20:38:41
A property investor has revealed how he turned his student loan into a portfolio worth £1.2 million (C$2 million) in just 10 years.
James Coupland, originally from York, bought his first house at the age of 19 using his student loan. His purchase was motivated by the “shocking” condition of his shared apartment at university.
This 29-year-old young man has always been keen to save. He worked throughout his studies and was able to save enough money to put a down payment on a modest £53,000 (C$89,500) house.
“It is the most profitable asset in the world, and it will always be the case in my opinion,” he assured the DailyMail.
According to him, you must do everything to preserve your property and avoid selling it at all costs.
Real wealth is created in capital over time, when property prices naturally rise, he says.
James revealed that the recent rise in mortgage interest rates has benefited him in some ways.
“Due to rising interest rates, buyers panicked and demand for real estate slowed down. This allowed me to buy more, because the prices are much lower than the market value,” he explains.
“My last purchase was at an auction I attended. There was only one other person in the room, which is very different from what used to happen when more than 50 people showed up,” he added.
James went from four rental properties to more than seven in the space of a single year.
“Don’t wait to buy real estate, but buy real estate and wait,” he advises.
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