EP 52 Manny Odunsi: How To Build 22 Houses & Buy 10 Houses Whilst Having A 9-5 | PBK Podcast
Jun 23, 2024
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Manny Odunsi, a savvy Property Developer and Land Promoter, has built an impressive portfolio of 10 properties at just 26. He shares insights on transitioning from banking to property investment and the importance of personal branding. Manny emphasizes leveraging unique skills and the critical role of networking in real estate. He dives into the complexities of home buying and shares essential tools for land acquisition. Additionally, he discusses the challenges of construction costs and the significance of strategic partnerships in successful developments.
Manny Odunsi's journey in property investment began at 20, emphasizing the importance of strategic savings and early investments.
Combining unique educational paths and IT skills can greatly enhance capabilities in property management and land development.
Building a strong professional network and utilizing social media effectively can provide essential support and opportunities in property investment.
Deep dives
Early Property Investments
The journey into property investment began at an early age, with the speaker purchasing their first home at just 20 years old. With a modest investment of £14,000 as a deposit for a property valued at £109,000, they emphasized the importance of saving strategically while living in a low-cost shared housing arrangement. This first property purchase laid a foundation that resulted in significant learning experiences, including negotiations and understanding market dynamics. The success of this initial investment motivated the speaker to continue to explore opportunities in the property market.
Leveraging Education and Experience
The speaker underscored the value of unique educational paths, such as degree apprenticeships, which gained popularity for providing full-time work while studying. Their time at Lloyd's Banking Group, working in IT consultancy, enabled them to acquire vital skills that later became advantageous in the property sector. This experience taught them the significance of understanding different systems and processes, which are essential in property management and land development. The speaker believes that having complementary skills, like IT knowledge, can vastly improve one’s capabilities in property investment.
Understanding and Managing Risks
Navigating the complexities of property investments requires a keen understanding of both risk management and the nuances of the market. The speaker highlighted the importance of moving quickly and decisively when opportunities arise, thereby reducing the likelihood of missed chances. They discussed the challenges of assessing construction costs and the unpredictable nature of the property market, illustrating that every project carries its unique risks. This understanding drives the speaker to continuously educate themselves and seek insights from industry peers to mitigate potential losses.
The Role of Networking and Relationships
Building a strong professional network and maintaining relationships with key figures in the industry has proven crucial in expanding the speaker's property portfolio. The speaker creatively utilized social media to showcase their journey and attract support, enabling collaborations and investments from friends and acquaintances intrigued by their ventures. Gaining insights from different professionals, whether through mentorship or courses, is identified as a driving factor for success in property investment. The speaker emphasizes that being authentic and relatable can enhance engagement and open doors within the industry.
Long-term Vision and Strategic Growth
Looking ahead, the speaker aspires to scale their property investments further through strategic planning and execution of new developments. With a current focus on managing a significant project involving 22 new build homes, they stress the importance of due diligence, including understanding planning permissions and market demand. Their objective combines securing solid cash flow through partnerships with social housing entities while also exploring speculative investment opportunities. Maintaining an adaptable and informed approach in the dynamic property landscape is heralded as key to achieving sustained growth and success.
Manny Odunsi is a Property Developer & Land Promoter. He quickly bought his first property at 20 years old and fast forward 6 years he’s built a portfolio of 10 properties and is now currently building 22 new homes with a GDV of £4.5M.
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