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Creative Thinking: Using £6k to Acquire £5.4m of Property

Kent based Toby Spanier talks with Editor Richard Bowser

Charles Darwin said: ‘It is not the strongest of the species that survives, nor the most intelligent. It is the one that is most adaptable to change.’

The above renowned quotation summarised for me just why Toby Spanier recently won the highly prestigious accolade of ‘Property Investor of the Year’ at the Property Investor Awards 2024.

One other quotation applicable for property investing should also be born in mind when reflecting on the highly creative property deal in Dover that Toby has put together.

John D. Rockefeller allegedly said: “the secret to success is to own nothing but control everything”.

Well that is at least the theory, but when I spoke to Toby in the aftermath of his award win he explained just how he had put the deal together.

“I only started investing in property in autumn 2017,” he said, “and have since acquired over 100 rental units with investments in the Midlands, London, and the South East. I work closely with local authorities to redevelop empty or derelict properties, in order to create much-needed homes for homeless families.”

This investing approach of course is one that in recent years has become quite popular with some property investors, landlords and SME developers, who have adapted their strategy towards the social housing sector.

I first asked Toby why he first got into property to which he responded: “I used to work for 25 years as a management consultant, but I found the industry very conservative, lacking entrepreneurialism, and far too risk averse. Property investing allows me to use my creative juices to negotiate ‘win win’ deals, to transform a building and improve the local area, and to also make money through a risk/reward approach. I love the entrepreneurialism and the ability to have a huge impact in a local area.”

Toby then explained more about the deal he submitted to the Property Investor Awards 2024. – “This is a 100% vendor financed deal,” he said. “The vendor is a landlord who has ‘lent’ me the building from the day of exchange, up until a completion date in up to 10 years time. I have put zero of my own money in to this deal, and made profit from day 1.

“The operational costs are for the staff wages, repairs, insurance, and utilities. There was no refurbishment budget required as the property already comprises of 24 existing flats and which are in a reasonable condition. 

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