A landlord and property investor has revealed that he makes £36,000 per month – more than the average Brit does per year.
When Alfred Dzadey, 31, lost his job and watched his income go from £40,000 a year to zero overnight, he longed for another way to make some cash.
An avid saver, he had been putting away £2,000 each month while still employed.
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Taking the plunge to join Britain’s landlords, he took a gamble and used his £25,000 savings pot to invest in education around property buying.
Now, he has a portfolio of £4.5m across nine properties, earning him £36,000 per month – more than the average Brit’s annual salary, which comes in at £34,900 according to Forbes.
“I’ve worked extremely hard to be in such a position and it’s not been easy – having to sacrifice time with friends and family so I could have this future,” Alfred, from London, told Absolutely Business.
“People think I’m driving up property prices.
“Someone once said: ‘I hate that for families these types of homes are becoming increasingly expensive and difficult to find as landlords are cramming people into these types of homes.’
“But I’m just providing luxury accommodation to the market using houses which need updating and bringing them back.
“It was a difficult decision to go all in on property, but now I never have to work for someone ever again.
“I have always wanted more in life, so I continually searched.
“I got a £40k starting salary, but that wasn’t enough, so I read Rich Dad, Poor Dad to improve my perspective on this.
“Now, I understand money is the most abundant thing on this planet.
“We don’t make money, we attract it.”
Alfred, who purchased his first home aged 25, quickly “regretted” his decision as he felt like it was a “liability”.
While his swanky £295,000, three bedroom, detached house was something he once dreamed about, the excitement quickly went away after losing his job.
Instead, he focused on “raising” money from investors as he didn’t have the capital to get started – which has allowed him to scale up his portfolio significantly.
He said: “I use value exchange; where people’s capital is sitting and eroding due to inflation.
“It’s beneficial to get a better return by lending it to me, so I can go out with the right knowledge and invest in property to build up a portfolio.
“They get their money back – and a bit more – and I can continue to buy more investments.
“I’ve managed to build my portfolio in three years, and it’s a good start, but I have bigger ambitions.
“I want to own a large landmark of residential properties in the UK alongside my capital partners.
“I didn’t grow up wanting to be a property investor, but I knew to create wealth by investing in a tangible asset.”
Now, he hopes to share his success to encourage others in a similar position to make the jump.
And says there’s five things to remember.
Alfred added: “You don’t have to time the market when buying, as it’s actually time in the market that creates wealth.
“Location is everything – you can’t buy just any property.
“I’d stay renting and invest in properties instead, to avoid any liabilities that don’t earn any income.
“Always have at least a 25% deposit, or more.
“Finally, and most importantly, you do need money – but it doesn’t have to be all your money, or even any of your own money.”
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