Young investor
24-year-old Briton buys a house for little money and increases the value by 550 percent
Jake Knotman shares his successes on Instagram
© Instagram / jakeknotman
A young man from Great Britain built a real estate empire at the age of 24. He shares his successes on social media.
Jake Knotman got into the real estate business as a teenager. At the age of 17 he worked for a brokerage company and eager to learn, he quickly learned the tricks of the industry. His specialty is buying houses below market value and reselling them for a profit. He bought his first house at the age of 21.
The Briton now owns seven properties, including a commercial building with eight offices. On Instagram, Knotman shares his real estate deals and also gives other people tips on how to get into the market. The 24-year-old recently published a podcast about this.
Knotman buys a cheap house for around 12,000 euros
Opposite “LADBible” Knotman tells how he and his business partner bought a cheap house worth just 10,000 pounds, that is the equivalent of 12,000 euros. He achieved this by building “relationships with the city council”. “We turned a planked property into a newly renovated house that people can live in,” says Knotman. After spending £ 26,000 renovating the house, which included installing another bedroom and a new kitchen, the house was worth £ 65,000. Converted, this is an increase in value of more than 50,000 euros.
Instead of selling off the house, the young investor has decided to rent the rooms for £ 85 a week and thus generate a regular additional income that he can then put into his other projects. So he bought another four bedroom house for £ 55,000 and put £ 17,000 into renovation. The property has now been valued at £ 90,000, or around € 107,000.
Knotman is living his dream
After starting his own business at the age of 18, he has now created the life he has always dreamed of. “Traveling the world has been a dream since I was young, and I did it at a young age, from China to Hong Kong several times, to Qatar, Singapore and Dubai,” he says.
He is also proud to report that he is accommodating homeless people in some of his houses: “I am glad that I can help ensure that people who literally live in a tent can live in a newly renovated apartment within a few weeks.”
But his job is still not easy, even if it looks like it on social media. “Everyone wants to be a real estate investor these days, but not everyone is willing to invest the time and effort to make it happen,” said Knotman. If you want to live with real estate in such a way that you are well looked after, then you have to expect that you have to do a lot of preparatory work.