In this episode, Emma interviews Richard Leonard, a seasoned property investor with over 30 years of experience and a portfolio worth £4.2 million. Richard shares his inspiring journey from a side hustle in property to becoming an HMO (House in Multiple Occupation) expert, driven by personal challenges and a desire for financial freedom. He discusses the intricacies of managing a growing portfolio, the lessons learned from his experiences, and the significance of providing high-quality living spaces for tenants.
KEY TAKEAWAYSA significant life event, such as a child's illness, can serve as a powerful catalyst for change, pushing individuals to pursue their passions and make bold decisions in their careers.
Specialising in high-end Houses in Multiple Occupation (HMOs) can lead to better tenant retention and satisfaction, as well as higher rental income. Creating a desirable living environment is key to attracting quality tenants.
Building strong relationships with contractors, HMO officers, and tenants is crucial for success in property management. Effective communication and collaboration can streamline processes and enhance tenant experiences.
Implementing a proactive approach to tenant management, including quick responses to issues and incentivising referrals, can help maintain low vacancy rates and foster a positive community within properties.
The property investment landscape is ever-changing, and staying informed about market trends, regulations, and best practices is essential. Embracing a mindset of continuous learning can lead to long-term success in the industry.
BEST MOMENTS"I think there's two. Obviously my family. That's my big why. I do it for them. But I also do it for myself."
"I guess part of it is, you know, we've sort of everything we've done since, you know, sort of 2012 has really been focused on HMOs."
"I think a lot of people are scared off by, oh, it's too difficult.There's too many moving parts. It's not. It really isn't."
"You can't manage an HMO laying on the beach. You've got to be there, you've got to be present."
"I always think it's like, you know, playing rugby. Anyone who says, oh, you could just get into property investing, it's all play-saving, forget it."
Recommended Book:HMO Renovation and Refurbishment Successhttps://amzn.to/3IglffV
HOST BIO Feeling stuck in a career that doesn't excite you? Worried about your financial future or how to build lasting wealth? The Property Mindset podcast is here to help you break free from doubt, fear, and procrastination, transforming your mindset to achieve property success.
Hosted by Emma Howitt, a property coach and mindset expert, this podcast dives into the strategies, tools, and inspiring stories you need to create the life you've always dreamed of.
Each episode tackles real challenges faced by professionals like you-turning limiting beliefs into bold action, navigating the property world with confidence, and building a portfolio that works for your future.
Whether you're just starting or looking to scale, The Property Mindset podcast is your weekly boost of clarity, confidence, and actionable advice. Your journey to success starts here.
www.emmahowitt.co.ukwww.pureabodes.co.ukhttps://www.linkedin.com/in/emmahowitt/https://www.facebook.com/emma.howitt.338 https://www.instagram.com/emma_howitt/Youtube: @emmahowitt_pureabodesLearn More About Us: www.emma-howitt.co.uk