We’re delighted with this coverage from Cornwall Live:
13 October 2019
Jeremy Grigg, from St Austell, had spent a fruitless day viewing houses hundreds of miles away from his home when the man who owned the place he was staying in rang him up because of a problem with the TV.
The owner asked the former Brannel School teacher what he was doing in the area and he explained he was looking for investment opportunities in the housing market.
He said he’d got a property he was interested in selling, so we met the next day over breakfast in a Wetherspoon’s,” said Jeremy, 47.
“At first we just chatted about other things. I think he was gauging me to find out my background.
“Then we talked about his property and one became three that he was looking at selling. When I called him back the following week, he said actually I’ve got five properties. After we communicated some more, it turned out he’d got 17 properties he wanted to sell! I couldn’t believe it.
“He’d built up the portfolio over a lifetime, got remarried and was looking to spend more time in Spain. He didn’t want the hassle of managing all the properties himself. He was your classic motivated seller.”
The drawback was that Jeremy had only recently begun sourcing properties and had not yet built up a list of investors he could sell his deals to. So the father-of-three asked another sourcer, who is still only 21 but already has a large list of investors, to help him.
Now the pair are sharing the £70,000 fee they earned from finding a buyer for the £2.2m portfolio in North East Lincolnshire. Jeremy says that as serviced and single let accommodation, it will generate an excellent return on investment.
“I’m still pinching myself to be honest. The fee I’ve earned from this deal alone is the equivalent of a good teacher’s salary for a year and we are only at the start of our property journey.
“I was in the right place at the right time,” added Jeremy who also taught at Redruth School and Fowey School in an 18-year teaching career before leaving the profession in 2017.
He has since founded Sowena Property Ltd with his partner Ginny who is also a director in the business. Jeremy and Ginny have sold nine deals involving 27 properties. They are also due to complete on their first no-money-down, five-bed multi-let property.
“We are both ambitious and looking forward to expanding our existing property portfolio and achieving financial freedom. Longer term, I feel inspired to ‘give back’ and use my teaching experience to pass my property knowledge onto others.”
As reported in Cornwall Live, 13 October 2019. Read the full story here.
Speak to Jeremy about your property investment ambitions, or learn more about the service Sowena provides here.