The investor admits it can be a frightening prospect to start investing in property, although he uses his Youtube channel (https://www.youtube.com/c/JacksChats) to inspire and educate those interested in the business.
Here Jack posts renovation before and after tours, as well as how-to guides, including How to Buy a House With No Money and Finding Property Investment Deals on Rightmove.
On his Instagram account, he documents his renovations and posts Q&As for those keen to learn more about his business. (https://www.instagram.com/jackdavidsmith/)
He says: “I’ve learned the people who do well in the business see risk very differently. People say the biggest risk is not taking the risk, the worst thing you can do is not do anything. Even as I say it, I’m thinking, people will think that’s a stupid saying, it’s ridiculous to say.
“But, for me, I think it’s only money, the worst-case scenario is I have fewer things if it all went wrong. But if you learn the right stuff, if you get around the right people, if you put your mind to learning this stuff, it’s not going to go wrong.”
“Instead of buying his first property and renting it out to cover his mortgage, Jack decided to flip properties instead – buying them, renovating them, and selling them on for a higher price.
“Initially, I bought and sold one property. I didn’t keep it.”
The experience helped him to decide on his personal business model. “For me, my business model and way I want to grow and grow quickly has meant I’ve made the decision to not hold on to any of my houses,” Jack says.
“Everything that I buy, I buy with the intention to sell.”