Our journey in property investment began in 2019 with the acquisition of a small two-bedroom house with a loft conversion. The property was purchased at auction after our initial pre-auction offer was rejected. In an unexpected twist, we secured it for less than our original bid—an early win in what became a steep learning curve.

Shortly after the purchase, we discovered that the loft conversion didn’t comply with building regulations. This setback, though challenging, presented an opportunity. We decided to turn the situation around by removing the existing loft conversion, lowering the ceilings, and rebuilding it to meet regulations. This renovation not only solved the issue but also allowed us to turn a 2-bedroom house into a 3-bedroom property, significantly boosting its value and rental appeal.

The first tenants, a young couple, moved in shortly after the renovation. However, a few months later, during what was meant to be a relaxing holiday, we received an alarming message: the property, they claimed, was infested with fleas. Despite organising thorough inspections, no evidence of fleas was found, and the actual issue remains unclear. Ultimately, we mutually agreed to end their contract. Navigating these tenant disputes early on gave us crucial experience in how to resolve tenant issues effectively and maintain a positive rental relationship.

Compounding the challenges, the letting agent we had engaged—highly recommended by others—showed little interest in supporting us when problems arose. Their lack of involvement and support was disappointing, particularly as they had sourced the tenants. This experience prompted us to part ways with the agency and rethink our property management strategy.

Determined to turn things around, we decided to lease the property to a local housing provider on a three-year agreement. This decision proved to be a transformative strategy:

This partnership not only provided us with stability but also allowed us to focus on further property investments without the usual tenant management headaches. The property remains leased to the same housing provider to this day, delivering consistent returns with minimal intervention.

This first purchase was a crash course in property investment. From navigating building regulations and tenant disputes to moving away from traditional letting agents, we gained invaluable insights. The most important lesson? The value of exploring creative property management strategies—like leasing to a housing provider—while ensuring that we maintain control over our investments. These early lessons laid the foundation for the strategic approach that defines Goodwin Property today.

This first purchase was a crash course in property investment. From navigating unexpected building issues to handling tenant and agent challenges, we gained invaluable insights into resilience, adaptability, and the importance of thorough due diligence.

Perhaps most importantly, we learned to think creatively and seek innovative solutions—like leasing to a housing provider—that work for both investors and communities. This experience laid the foundation for the strategic approach that defines Goodwin Property today