In 2013 I approached Rockstar Group in reach of a business mentor for my business within the Property sector.
I had a meeting with Jonathan Pfahl to discuss my business needs and it was clear to see he should be my mentor along with Les Gilbert both with; a proven track record, vast experience, expertise as a property investor and developer in East London.
I had acquired an end of terrace house in East London and I wanted to add value to re-sell.
The mentors experience and knowledge were invaluable in helping me from implementing the strategies for the property, finding the right team to assist me through to executing the strategy.
Jonathan focused on helping me understand how to carry out the market studies to figure out what was needed to be done to the property. For example, I was planning to do a rear extension and a roof conversion, he was quick to point out that by doing so I would need to resell (after costs) at a price which was in excess of what the market would pay for that property; together we decided a full refurbishment was all that was required.
During this process I was introduced and connected with professional tradesmen; builders and local suppliers in that area who gave me preferential rates and as a result brought the costs down and left me with money in my pocket.
The greatest value of all was the mentor support and guidance from them looking at the business from a different angle which I clearly couldn’t see. My end of terrace property had a larger garden than average so my mentor suggested reducing the size of the garden by erecting a fence down the middle. My mentors thoughts were I keep the back end of the garden and try and acquire part of the neighbours back garden to potentially build a new house. With this thought in mind the buyer of this property was a huge garden lover and offered to pay me £40k extra for the little garden at the back I had retained. At the cost of only £200 for erecting the fence down the middle, left me with a tidy profit; an idea which would never have crossed my mind.
So it’s clear to see the project was highly successful. I bought the property for £280k, the total cost with the renovations and acquisition was £330k. The property sold for £490k, circa £150k profit after disposal costs; all within 8 months from acquisition to sale.
I cannot stress the amount of value I received from my Rockstar Mentor. They both helped maximise the sale price, reduce costs and prevent me from making costly mistakes. The return on my investment (mentorship fees) was 20 x the fee I paid.
I highly recommend Rockstar, for their professionalism, quality and valuable knowledge to learn from others who have done something you want to do.