Alex is joined by Ed James, a young entrepreneur who built a thriving service accommodation empire whilst juggling a full-time job. Ed talks about why determination, risk-taking, and invaluable lessons were all part of his business growth. From scams to property fires, Ed shares the highs and lows of his entrepreneurial path, offering inspiration and practical insights for aspiring property investors.

https://airbnbconsultant.co/

KEY TAKEAWAYS

• Ed built a 30-unit service accommodation portfolio while working full-time, he had to have exceptional time management and a dedication to his entrepreneurial goals.
• Starting with YouTube tutorials and Facebook groups, Ed learned all about serviced accommodation.
• Ed's strategy of reinvesting profits and living on minimal personal income accelerated his business growth, highlighting the importance of delayed gratification in entrepreneurship!
• Transitioning from service accommodation to HMO developments, Ed believes in the value of building long-term wealth through property ownership.
• Ed stresses the importance of thorough due diligence when working with others in property, sharing his own experience with scams in the industry.
• Mental health and work-life balance are crucial aspects of entrepreneurship, the value of building a support network and delegating tasks shouldn’t be underestimated.
• Ed highlights the importance of adapting to challenges through his own experiences with unexpected events like property fires and changing market conditions.

BEST MOMENTS

"I detached myself from what then was my life as well. I was in a home with some great people, and I chose to remove myself... and actually stayed in one of my early rent to rent serviced accommodation, one bed apartments just to solely focus on scaling and growing the business."

"I can't escape this responsibility that I've got now. Certain things, times, events that if they are triggered, I need to be there. I need to respond. I need to react. And in serviced accommodation industry, it's a very active business."

"Ultimately, the amount of time that I've spent on it is not something that I want to be doing in the future, to be honest. So with one also acknowledging the fact that I'm making money off managing other people's assets... the worst thing I can do is utilize that cash flow and not put it to good use."

"I'd be lying if I didn't say just sometimes very rarely, it's been a couple of times where just so emotionally overwhelmed, you start crying. You don't know why."

"You've got to be so careful, don't you? Because maybe not so much you, because you're obviously a very confident guy, you know, very get up and go, you know, that you're going to build this business, but there's a hell of a lot of people who want to do this, but they don't have the confidence to go out and find the deals."

ABOUT THE GUEST

@edjproperty

Info@hinkleyhomes.co.uk

www.Hinkleyhomes.co.uk

HOST BIO

Alex & Pooh have built a portfolio of over 16 Serviced Accommodation Units and 10 Buy-To-Lets collectively over the last 5 years.

This AirBnB Business has allowed each of them to create their own tailor made ‘lifestyle by design’.

Pooh chose to escape the corporate life as an electrical engineer instead to spend his time at home with his young and growing family, and Alex likes to spend most of his time in sunny Spain enjoying his love for road cycling or even hiking in the Tramuntana mountain ranges.

CONTACT US

Facebook - https://www.facebook.com/alex.mannock/

Instagram - https://www.instagram.com/theairbnbnomadspodcast

TikTok - https://www.tiktok.com/@theairbnbnomadspodcast

YouTube - https://www.youtube.com/@Lifebeyondbroke/