Property Secrets very own Portfolio Manager James Organ is a successful property investor himself with years' of experience in buy-to-let and the property industry in general.

We talk to James (pictured below) on what works for him and what advice he can give to new (and experienced) investors looking to build their portfolios.

Why Property?

I had grown up with my father investing and refurbing properties, I got hooked! Once I completed my degree in Property Development and Business and was employed I bought my first house which was a refurb project. It was my upbringing that made me invest in property.

Where do you Buy?

I buy in my own area, I have used all of my contacts as I was an estate agent after leaving University and now a lot of my contacts are directors or owners of property companies therefore I sometimes get to see the properties first, I know that this has been quite privilege! I also buy at auction, these days the competition is high, lots of programs show the exercise of buying at an auction a simple process but for all those who have done this, it's an easy way to get sucked into the excitement and overpay. If you are new to buying at auction, watch and learn before getting stuck in and also have your deposit on the day!! I would also encourage anyone to look outside of your area too, when I was buying I had no discounts and no support. Property Secrets works hard on achieving big discounts with developers due to our commitment with the volume of units we will take on, e.g we secured eighty houses in Cornwall at around 40% discount and in Barrow in Furness we secured 100+ apartments and have a commercial lender on board giving us non status finance, the units are producing around 10% yields.

What do you look for in a Property?

To me it's all about exit strategy, one day I will sell my portfolio off , I do not want the properties sitting on the market for weeks/months loosing value. When I started buying it was all about what the property would offer to my chosen audience (professionals/workers). Tenants come to this area for the older style of terrace house, stripped floors, high ceilings, good amenities, functional to their needs.

What are your goals through Investing?

My goal was to build a portfolio that was manageable, would bring my family a healthy return on an annual basis and long term allow us to have a pension that will bring a level of financial security in our old age. My wife and I are 37 and with the speculation within the press that the state pension will be peanuts, this is what has driven me to set our achieved goals.

Hands On or Hands Off?

I have experienced both, for three and a half years I lived in Sydney, Australia and handed over my portfolio to a local agent. I manage my portfolio now and it has its pros and cons but if managed well it can be advantageous. If you are to get an agent to look after your properties carry out local knowledge, use Right move to see who the market leaders are in the area, perhaps subject to your time go and see them, you never know you might buy multiple units in that area and it's comforting to have a team who you can trust and rely on.

Do you Renovate your Properties?

I renovate properties with a friend of mine, we have been doing this now for five years, we have our set targets on an annual basis that we adhere to and the best advice I can give anyone doing this is , don't cut corners, it will only come back to you haunt you later! Invest in double glazing, mid range kitchen/bathroom, make it functional to attract the right tenant. Work with local suppliers and let them know what you are doing, they will always want to give you a discount if you keep on going back to them, why would they not? This is the same with the contractors who do the work for us, if they do the job well guarantee them the next job, great incentive for them. You always have to remember you are not living there, you will have different tastes to perhaps your target audience, so don't spend money on snazzy gadgets, it's only eating into your profit margins. Also, work with the local agent, they will know the market especially if you are doing this out of your area.

Any tips for Investors?

Choose one area, speak to local agents, see what amenities the area has to offer, schools, shops, transport etc. Once you identify the area start buying in clusters, so much easier to jump in the car and go and see the agent who looks after your properties and it also allows you to go and see the properties and the tenants over one or two days.

And for those wanting to start out?

Work with a property company like ours, it takes away all the pressures from day one. When I was buying if I'd had a company like Property Secrets supporting me along the way I would have slept a lot better!! Don't rush, take your time and carry out smart investing, don't get emotional with the investment, you are not living there and don't buy properties all over the place, it's so hard to manage. Get this right and you will reap the rewards, good luck!