Entrepreneur James (video hosted/posted by George Foley) explains his strategy to use profits from his recruitment business to build a property portfolio over the next 5–20 years. He attributes his interest to mentor Grant Cardone (citing Cardone’s ~"almost $800 million" in property), and describes purchasing a commercial office building called Northumbria House after seeing a for-sale sign 18 months–2 years earlier; the deal completed roughly four to five months before this video. James discusses negotiating the purchase, planned renovations (modernizing a dated 1960s/70s building), intended amenities (games room, chill areas, meeting rooms, kitchens), and next investment targets (buy-to-lets and serviced accommodation). The video closes with a viewer call-to-action (like, subscribe, comments, weekly Q&A).
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Ninety percent of millionaires are made in property. So it's an outrageous statistic. So if you think that you're hustling away in your business day to day, most people are making their money in property or at least using their business to cash flow their property empire. So that's going to be my vision over the next 5, 10, 15, 20 years. So what brought me to purchasing an office building? So one of my mentors that I follow quite closely is a guy called Grant Cardone over in the us so he's a big sales entrepreneur and also quite a big real estate investor. I think he's got almost $800 million worth of property over there and he's a big believer. You talk about cash flow all the time and having different streams of income. So for myself as a business owner and also entrepreneur like, I wanted to make sure that we had different sources of income coming in. So one of the big things that I wanted to do was solidify our base here in the northeast at Northumbria House. And the opportunity arose quite randomly. I was just driving around one day and I seen the for sale sign board up here at Northumbria House. And that was over probably 18 months, two years ago, funny enough, and it only actually just completed around about four or five months ago. It was quite a long and drawn out process in terms of the negotiations. I was quite strong with our negotiation to make sure I got the best deal possible for the premises and also renovations. I wanted to make it look like a cool digital techy environment because the building was built I think in the 1960s, 70s, so it needed a bit of a facelift. And internally I wanted to make sure that it was quite a comfortable environment as well. Obviously the emphasis on this video was the fact of Gran God Home got me into the real estate investment. So we started off with this commercial property, but I am looking to purchase some buy to lets now and also some serviced accommodation as well, which is going to be quite exciting for the months and years to come. Beware of the mess because we haven't really done much yet apart from a bit of painting. The lighting's not done yet, a couple of rooms are sort of getting refurbed, but it gives you an idea. I mean the, the condition it was in beforehand was very, very dated and not the best. So we're going to make it a lot better than it is. So we've got rooms like this again, one or two desks. Again, beware of the mess. But it's a great environment because you're going to have your office up here. We've got quite a few units. Again, still not renovated at the moment, but the downstairs space that we're creating is going to be a games room, there's going to be chill out areas, going to be meeting rooms, kitchens. So it's going to be quite cool. And I'm quite excited about this project as well. So although I run a recruitment business day to day, I really love property. So property is one of the most the biggest things when I've surrounded myself with a lot of different millionaire mentors and studied a lot of people. 90% of millionaires are made in property. So it's an outrageous statistic. So, so if you think that you're hustling away in your business day to day, most people are making their money in property or at least using their business to cash flow their property empire. So that's going to be my vision over the next 5, 10, 15, 20 years, is using a lot of our profits in the business to invest in hopefully my property empire one day. So that's what we're going to be doing and this is the start of it with a commercial property. So hope you've enjoyed the video and stay tuned for the next one soon. Thank you. Hi, thanks for watching today's video. If you like what you've seen, please like and subscribe the button with Entrepreneur James so you keep up to date with all of the updated videos. If you've got any questions or comment, I'd love to hear from you. So please drop a comment in Entrepreneur Gems below and we'll look to answer those on a weekly Q and A video. Keep an eye out for any future videos that we'll be posting. I'll be popping the video in here probably every one to two days. Thank you.
