When I called to arrange the logistics for my interview with Cyril I was left rather intrigued, as unlike some more extrovert property investors I have met in recent years he comes across as being quite polite and reserved. However, Cyril had said enough on the phone to whet my appetite to learn more about his property investing experiences, and after spending the day with him, I certainly wasn't disappointed.
Unlike some, he has always been entrepreneurial and after reading Robert Kiyosaki's 'Rich Dad Poor Dad' at University he has a clear understanding of assets and liabilities. Whilst studying at University Cyril lived, like many students, in shared accommodation. He understood the economics of the house and the profit it was generating but he didn't have the resources to buy it. So instead he agreed to manage the HMO he was living in on behalf of the landlord. Why? To get the experience he knew he would need in years to come.
Whilst studying IT at University Cyril spent his evenings and weekends building his business, an enterprise where students could pay a deposit and rent a laptop whilst studying. What's interesting about his model is that the cost of the deposit paid by the students covered the cost of buying a second hand laptop Cyril could refurbish. This model allowed the business and his team to grow as he explains: "I also managed to franchise it out to another University, the profits from the business accompanied by a few loans from friends and family enabled me to purchase my first investment property [whilst still at University]."
Apart from funding his first property purchase, Cyril's also grateful for the experiences he gained whilst studying Computer Science and Software Engineering. "This background gave me the confidence to drive my IT business forward. I used to rent, sell, and repair second hand laptops in the student market. Having personally built all of the in-house software systems for the IT business I now realise that the training I gained from that experience has taught me to think methodically and helped me to understand the importance of systems when building any business."
