Peter Singh is one of the UK’s
fast growing authorities on Multi-Let Property Management
or Houses of Multiple Occupation (HMO’s) and
yet he only started investing in property in March
2012, last year.
Initially
Peter had very little funds to start his property
investment career with and relied on claiming back
overpaid Payment Protection Insurance (PPI) and a
small amount of savings from his previous job as a
factory worker.
Without
any prior property investment education and equipped
with nothing but a burning desire to succeed, Peter
made his first property investment, with just under
£3,500 (GBP). This was a property he was expecting
to multi-let as a HMO and hoped to achieve around
£500 - £600 (GBP) cashflow per month,
however, it actually achieved £950 (GBP) per
month.
Whilst
pursuing his first multi-let property investment,
Peter was accused of being part of a £38 Million
Pound VAT fraud and during the course of the trial
he was working night shifts on the production line
in a local factory. Using his break times and train
journeys to and from court as the only time to sleep
and meditate. Whenever there was an adjournment at
court Peter would be working on his multi-let property.
Peter said “I didn’t have time to think
about how I would make the property work as a multi-let,
I just made the decision to take the property on and
let my mind find the ways to make it work. The first
deal was wrapped up and fully tenanted within 3 weeks
just before the Easter break which I definitely needed!”
Peter
Singh talks to Rob Moore
Peter
had a challenging task on his hands, but he knew nothing
was ever too challenging, only as challenging as we
believe it to be and this was it now, Peter had tasted
his first bit of success and he knew all he had to
do was replicate what he had just done. You see, the
thing is, Peter’s life has not always been as
successful as his first property investment, in fact,
as far as money goes, Peter would go through phases
where he would gamble his wages and count how many
£1 coins he had left, eventually gambling all
of them too. Peter was the guy that would walk into
the work’s canteen with no money to eat, the
guy who would walk 30 miles to and from work because
he didn’t have the money to cover transport.
Now
when Peter walks through his local town centre where
he grew up, he views life with a new pair of eyes.
Peter explains “There are 3 betting shops on
each corner of the town centre, and I see people walk
out from the betting shops with that same screwed
up face that I used to leave with, all I see now,
is opportunities to help.” Living below his
means as a teenager is one positive aspect that has
now helped Peter as a property investor.
After
being successfully acquitted by jury after a 3.5 month
trial, Peter went from strength to strength pushing
his property business forward. Taking on his 2ndmulti-let
property in June 2012, just 2 weeks before being acquitted
and the 3rd and 4th HMO properties followed in July
& August.
Peter
now has 10 multi-let properties cashflowing around
£7,400 (GBP) per month and now spends his time
coaching people on how to achieve success in their
lives whilst feeling a great sense of purpose doing
so.
Peter
is currently writing a book about his life experiences,
the challenges and obstacles that he has had to face
and how he overcame them to push his life in a direction,
that a few years ago, he thought was impossible. Peter
said:”The truth is we can achieve whatever we
want in life and for me it boiled down to 2 things,
•
How bad do I want it?
• Am I willing to sacrifice who I am now for
who I will become?
My
heart answered both those questions for me.
I
used property as my vehicle to become financially
free and break this cycle. My father was a factory
worker working on minimum wage, I was a factory worker
working on minimum wage, nobody in the history of
my family had ever been an entrepreneur. I am breaking
this cycle, re-creating history and will leave a legacy.”
Fast
forward to August 2013 and Peter has become financially
independent earning just shy of £8,000 (GBP)
per month, and he is currently systemising his business
and helping others to achieve fantastic results from
property. Peter
admits that life hasn’t always been easy, as
he told MyPropertyPowerTeam;
“I
have faced some challenges along the way, working
night shifts on the production line, attending court
during the day times for a £38 Million (GBP)
VAT fraud which I was unknowingly a part of, with
no time to sleep other than on the train journey to
and from court whilst seizing the opportunity of my
first multi-let property investment during the same
time. Although my legal team thought I was crazy for
doing this, I knew exactly the opportunity I was looking
for 3 months prior to it arising, letting it pass
by was not an option. Yes physically, it was not possible
to do, but neither was giving in to the opportunity.
There are many opportunities in your lifetime, but
what really matters is the life you put into each
one. Seeing the opportunity is one thing, seizing
it with all your life is a whole new ball game. Only
you can choose the quality of the shot you take. I
now run property training events teaching others how
they can overcome obstacles and mental roadblocks
to be successful in property. I have used property
investing as a vehicle to become the first entrepreneur
in the history of my family, I know through sharing
my knowledge and teaching others I can help people
to achieve great results using a low investment /
high return strategy.”
Hear
Peters moving and emotional story in his own words
as told to over 1000 Property Investors at the Property
Super Conference 2013
