In 2001 Tim was working as a chartered accountant and Sue ran her own hairdressing business. Tim was working 55 hours per week in a job he didn’t enjoy. He had been interested in property since the age of 10. He was involved in the design of his parents self build bungalow in 1982 and instrumental in the design and build of his church in 1996.
Tim took voluntary redundancy in 2001 and re-trained as an interior designer. Four years later in 2005 he decided to purchase and renovate properties, which would combine his profession with his passion.
Tim and Sue “got into property” in 2005, just two years before the recession in 2007.
They managed to continue to grow their business during the property crash. Tim says, “It is possible to make money in property in almost any financial climate, you just need to set your sail in the right direction.”
Growing a property business in a recession where properties are dropping in value forces you to be creative and this creativity produces fruit. It also trains you to have a “pit bull mentality,’ by this I mean making up your mind up to never give up.
During the last twelve years Tim and Sue have used a number of strategies to help them grow their property business including:
Commercial conversion, obtaining planning permission to convert, grade two listed building renovation, HMO conversion, overseeing for other investors, single let houses, single let apartments, licensed HMOs and unlicensed HMOs, joint ventures, setting up a letting agency managing over 100 units within twelve months, setting up a furnishing and dressing business, deal sourcing and flipping investment properties, training and mentoring other investors.
They are now working towards raising funds to purchase houses for the homeless in their local area.
They love to spend time in the Peak District walking their family dog, Jackson and enjoy holidays with their grown up children and grandchildren.