A background in wealth management and time spent running a betting syndicate has given Adam Lawrence the know-how to grow a seriously impressive property portfolio.
Adam only started out in 2008 as an accidental landlord but decided to get more seriously involved after discovering the value of networking and joint ventures.
These proved successful but when he wasn’t getting the expected uplifts on re-evaluation, Adam signed up for an MBA with the aim of looking at property trading with a more business mindset.
“I’ve carried on partnering with people who have expertise or a wider business with other things to offer,” Adam tells LandlordZONE.
This was certainly true when he wanted to learn letting agency best practice, so trained with ex-ARLA president Sally Lawson before setting up an estate management vehicle doing the tech side and bought into a couple of existing letting businesses.
Adam also now owns investment companies and asset management companies and is the co-founder of the Partners in Property network.
As he’s grown his business, the 430-strong portfolio has spread from his home town of Solihull to across the UK, with a focus on the Midlands and the North.
He employs staff to help with the day-to-day business; half the portfolio is managed from Solihull and the other half is managed by agents.
While he started out buying from agents and at auction, more recently he’s dealt directly with vendors. He’s currently converting an HSBC bank “trying to bring a nice building back to life” and working with social housing providers with the aim of making a profit in this sector – and trying to do good as well.
Adam explains that his strategy has always been about managing risk. He adds: “It’s good to have other sources of income and other trading businesses when you’re a landlord. There’s no silver bullet – property is definitely a ‘get rich slow’ sector.”