A momentary scan of your internal hard drive – your brain – will likely bring to mind some successful, historic people partnerships such as Rolls and Royce, Laurel and Hardy, Morecombe and Wise, Page and Brin (Google), and Gates and Allen (Microsoft), who randomly pop up as I write this article. Many a fortune and success story has been created with a coming together of complementary skill sets across a wide range of business sectors, and property is no different.
Bristol based Nick Josling met his business partner at a property investors network event in 2011 when Ashley Rigg was running an Internet business in the overseas property market.
Nick has been investing in property since 2006, initially in buy to let properties, then after a year and a half in South America, he invested using a sell and rent back strategy, progressing on to doing some lease options and title splits. Up to 2012 he built up a mixed portfolio of 17 properties.
Their partnership in property began back in 2012 when they created a business, Bristol Property Partnerships, with just £10,000 of seed capital. The business sourced HMO property deals in Bristol for other private investors. They also handled all the management processes including the property refurbishments and lettings.
During the first four years they sourced, refurbished and managed properties for investors, buying a total of 61 properties for themselves and for clients.
I ask them how have they adapted their strategy in recent years? Ashley responds: “We switched focus away from the LHA sector towards professional HMO’s, with the company managing not only our own portfolio (after struggling to find anyone else to manage HMO’s in the way we wanted), but managing those of other landlords with properties in Bristol. As well as providing property management, we have helped clients with consultancy services as well as offering fixed term returns.