085 - Office Conversion into 5 Bed House Share
In this BRAND NEW Podcast Series, we will be going Behind the Scenes on some of the UK’s most Creative, Lucrative and Award-Winning Deals 🤩 Hosted by me, Mark S Barrett from The Property Brokerage, this month it gives me the absolute pleasure to welcome Garrett Peers. Garrett has been in property for 25 years and a few years ago was looking for a mentoring group to further his business and personal development. Through a friend's recommendation, Garrett joined Property Entrepreneur in 2019 and successfully applied to join The Board in 2020. Garrett is a Tempo (Wealth Dynamics Profile) and working with Joint Venture partners he has built two multi-million euro portfolios including residential, commercial and development investments. Garrett also has his own team of builders as well as a family letting agents in Dublin which manages over 500 units. In this podcast, Garrett discusses how he has built long-lasting relationships with agents who now provide the vast majority of his deals, including €6 million of deals in his current Dublin and UK pipeline and provides his top three tips to achieve financial freedom. Garrett also shares how he sourced his latest deal, an office conversion in Dublin into a 5-bed house share and the refurbishment of an existing basement apartment. Along with his Joint Venture Partner, they also spotted an opportunity to add a mews property into the rear garden to create further value. The numbers: €345,000 Purchase Price €30,000 Costs €140,000 Refurb €930,000 Revaluation No money left in €400,000 equity + €150,000 from new build mews Gross Rent: €87,600 pa Net cashflow: €30,000 pa Our July episode of Deals Deals Deals is now live, tune in straight away to avoid missing the boat. Success and Failure are both very predictable. Want to learn more? Garrett Peers: https://linktr.ee/garrettpeers If you’ve not already joined the 8.5k Property Entrepreneurs for FREE in the Property Entrepreneur Facebook Group, click here to join now: The Property Entrepreneurs Community If you're listening to this podcast but have not yet subscribed, click the subscribe button to listen to what Daniel and other industry leading guests have to say on a weekly basis on all things business, investment property and lifestyle: The Official Property Entrepreneur Podcast Keep up to date with Daniel’s musings by subscribing on YouTube now: The Official Property Entrepreneur YouTube Channel Follow Daniel on Social: Instagram: @propertyentrepreneur_ Facebook: @PropertyEntrepreneurOfficial LinkedIn: @propertyentrepreneur