The Scottish Property Podcast Raising £700k in Investor Funds w/ David Liddell
In this episode, we welcome David Liddell, a young and energetic property investor, to discuss his journey, strategies, and recent projects. David shares his transition from an engineering career to property investment, highlighting key lessons, successful projects, and his plans for the future.
David's Background:
- Grew up in Dunfermline, now based in Glasgow
- Former hydraulic design engineer in the oil and gas industry
- Shifted to property investment during the COVID-19 pandemic
First Property Investment:
- Location: Peterhead
- Type: Buy-to-let
- Outcome: Sold at a profit, igniting interest in property investment
Transition to Full-Time Property Investment:
- Began focusing on property during the pandemic while working part-time in engineering
- Educated himself about property investment
- Left engineering job in April 2022 to pursue property full-time
Property Strategies and Projects:
- Involved in flips, assisted sales, deal sourcing, and service accommodation (SA)
- Advocates for focusing on one strategy at a time
- Manages properties with his partner, Samantha, including setting up service accommodations
Notable Projects:
Service Accommodation in Coatbridge:
- Converted his home into a service accommodation
- Self-managed, resulting in cost savings and increased profitability
Thurso Property (Marine Inn):
- Overlooks Thurso Beach
- Purchased for £385,000 (home report value: £425,000)
- Plan: Convert into a high-quality apart-hotel with six self-contained units
- Financing: Bridging finance and investor funds
Project in County Durham:
- Large property bought at a discount (valued at £600,000, secured for £475,000)
- Plan: Refurbish and set up for group stays
Financing and Investors:
- Raised approximately £700,000 in investor funds for various projects
- Stresses the importance of building a personal brand and maintaining a social media presence
- Most investors are connections from networking and business groups
Conclusion:
- David is dedicated to growing his property business and emphasizes delayed gratification and discipline.
- Future plans include expanding his property portfolio and continually improving business strategies.
Listen to the full episode to hear David's insights and advice for aspiring property investors!
Follow David on Instagram!
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Prime Property Auction: www.instagram.com/primepropertyauctions
John: www.instagram.com/john_property_auctioneer
Luis: www.instagram.com/luis_property_auctioneer
Visit Prime Property Auction website: https://primepropertyauctions.co.uk/
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