How a 23-Year-Old Built a 40-Property Management Business

How do you build a successful property business at just 23 without family wealth, substantial savings or years of property investment experience?In this episode of From The Ground Up, Steve Doran sits down with former police officer and property entrepreneur Ellie Cockbain to uncover how she used rent-to-rent, serviced accommodation, contractor bookings, property management and private finance to build a rapidly growing property business.Ellie explains how she went from joining Durham Constabulary at 18 to managing around 40 properties, with another six in the pipeline. She reveals why it took nine months to secure her first rent-to-rent deal, how networking three or four times a week helped her find landlords and why starting with accommodation demand was more important than finding properties.She also shares how she walked onto construction sites carrying doughnuts and sausage rolls, returned to the same site three times and eventually secured a £56,000 contractor accommodation booking.Want to learn more and find out how to transform your financial future in just two days? Connect with Steve via https://stevedoran.co.uk/homeKey Moments:0:00 How Ellie built a property business at 2301:01 Managing around 40 properties with six more coming02:21 Joining Durham Constabulary at 1804:51 Discovering property and financial freedom06:09 Why imperfect action beats perfect inaction08:08 Being told she would never leave the police09:57 How rent-to-rent property works10:57 Taking nine months to secure her first deal12:55 Networking three or four times every week14:27 Securing three rent-to-rent deals in quick succession15:20 How to approach property networking events16:40 Why investors should start with accommodation demand18:46 Growing a property management business through word of mouth22:05 Building a business without a website or social media22:59 Deciding to leave the police24:51 Trusting yourself to generate your own income28:52 Using a £15,000 credit card to furnish two properties29:51 Making approximately £2,000 profit per property32:44 How serviced accommodation management works34:13 Finding contractor bookings on construction sites36:11 Securing a £56,000 booking after three visits38:48 Managing 40 properties with another six in the pipeline39:12 Building a remote property management team40:58 Finding her first property investment deal43:01 Understanding leasehold, freehold and property valuations44:29 Buying a property using £120,000 of private finance45:43 Generating £2,800 per month from the property47:09 Buying a non-standard construction property at auction49:15 Why investors must check auction legal packs51:42 Recovering her refurbishment costs and an additional £12,00052:40 Launching the refurbished property on Airbnb53:18 Dealing with solicitor and mortgage delays56:40 Why resilience is essential in property58:30 Overcoming personal hardship and refusing to make excuses01:01:16 Changing the people and environment around you01:08:14 Why you must back yourself and invest in education01:09:29 Avoiding burnout and making time to switch off01:11:58 How coaching helped Ellie progress faster01:13:44 The reality of building a property business01:15:27 Being a young female property investor01:18:32 The qualities successful property investors share