Expat Wheeler Dealer!
We’ve interviewed lots of expat UK property investors on Expat Property Story, but this is the first time we’ve come across an expat who
Moved to a foreign country
Bought a house
Sold it to someone for cash on condition that they take it away on wheels
And then built five 3 bed houses in its place to lease to the council for social housing
Meet Rose, an inspiring example of what it means to push the boundaries as an expat UK property investor. Her story is a testament to grit, determination, and strategic thinking.
She is literally a Wheeler Dealer!
Originally moving to England from Nigeria to train as a teacher, Rose and her husband John’s expat property story actually began in Bristol by getting their feet on the first rung of the property ladder with their first family home.
John subsequently got a job in London, so they decided to let out their house in Bristol, and rented a place in Cambridgeshire. John commuted to London and Rose continued her teaching career in Cambridge.
When John’s company offered him a position in Norwich, they sold the house in Bristol to fund the purchase of a new one in Norfolk—a move Rose later regretted, acknowledging they should have rented it out instead.
Soon, they were on the move again, to New Zealand, after John was transferred.
Despite having three toddlers, instead of renting out their Norfolk home on an AST, Rose listed it on Airbnb and self-managed from NZ.
Their property attracted long-term bookings from agencies, leading them to transition from online to direct bookings .This is the essential component of a successful Serviced Accommodatiuon business as Mark Simpson of Boostly told us back in Episode 80.
They used the UK profits as the deposit for the purchase and development of a Wellington home into five new houses for social housing, with plans for more—culminating in a robust investment strategy.
Rose & John are now moving back to the UK and have lots of advice on the transition from Expats to Repats.
Planning for the future, Rose and John are not only relying on their growing property portfolio but also ensuring compliance with cross-border tax laws by employing accountants and tax advisers familiar with both UK and New Zealand regulations. Their assets are securely placed in a trust to protect from potential relationship property claims.
With New Zealand citizenship in hand, their children have the opportunity to study and live in Wellington, creating a cushion for their family’s future.
Key Takeaways:
Strategic thinking and determination can turn distant property management into a success.
Technology and reliable local partnerships can bridge geographic gaps.
Comprehensive planning (tax, legal, and future growth) is crucial for long-term success.
Rose's story shows that with the right mindset and strategies, expat investors can push boundaries and achieve success. 🌟
Listen to the episode to find out why Rose is literally a wheeler and dealer!
Episode Released 26 Sep 2024