– So I’m moving on very quickly to our next two speakers. We have two sisters coming to share this. Please put your hands together
for Hannelie and Ankie. (audience claps) – Good morning everyone, I’m Ankie Belle. – Good morning everyone,
I’m Hannelie Ilish. So we are two sisters as Simon has said, from South Africa as you probably have gathered from my accent. And we have both been in the UK for more than 40 years. – So Hannelie is my big sister. So I am used to all my life having to take the back seat and go last so today, I’m going to
have the first words. (audience laughs) But actually, as you know, she
loves having the last word, so she’s okay with that. So just a little bit of background on me. So my name is Ankie. I’m married to Jaime and
we have four children. Two teenagers and two younger ones. Everybody bands around the term reason why and that is a really,
really compelling thing for Hannelie and I for
why we joined Mastermind. My husband is an IT contractor and he has been working
away Monday to Friday most weeks since 2006. And we decided that we
really wanted to change that so in our home we have what is called Operation Bring Daddy Home. And that is to replace his income through our property income so that he doesn’t have
to work away anymore. I used to be in IT prior to 2007, when my husband started contracting away, I became more of a stay-at-home mum so that I could look after the children with all his travelling. But I always had a real
passion for wanting to be an entrepreneur and wanting to have a business. So since 2007 I tried
various different businesses. Some were more successful than others. And in 2014, I set up
a small letting agency, really just looking over
our own single lets, but then also started looking after it for a few of our friends. And we started building slowly on just a single let portfolio, not really knowing how to do it properly until we came on Mastermind. – So a bit more about me. I am married to Chris,
he’s also South African. And my reason why is that Chris has serious back problems, he had three back ops the last four years. And he really struggled
to get through everyday. On top of that he has other health issues. So I really want to get
him out of his day job whether that’s going to be a
good idea remains to be seen. (audience chuckles) So my background is in finance, predominantly in South Africa. Since we’ve moved to the UK, I’ve worked for Guide Dogs for the Blind for 11 amazing years in various
senior management roles. But I always wanted to
get back into property. So I’ve worked full time
until August last year. But I’m now luckily
full time into property and I love it with all the challenges and the successes that it brings. – So we wanted to just give you a little bit of a synopsis of our journey on this Mastermind here. So firstly, we invest
in North Nottinghamshire and the edges of Lincolnshire. And we started off on this journey with an HMO strategy in mind. And we did that at first
and then we veered off onto a different strategy which you’ll see as we
go through our journey. But really one of the
biggest things for me about Mastermind has been
the enormous mindset shift. So prior to Mastermind, we
collected a few single lets and we did some mini-mos and small HMOs, but really I never
really had the confidence to purchase a property
over 100,000 pounds. In honesty, our property
values were always between 50 and 80K and that’s
what we had confidence for and that’s what we could do because we knew that and
we were confident with it. As a result of Mastermind Accelerator, straight after that three day course, my eyes were completely opened to what kind of strategies
and what kind of methods were available and possible. And I went straight after
Mastermind Accelerator and found a pub and also a block of flats with commercial units that
could be converted into flats. And my mindset went
after those three days, it shifted from never properties between, no more than 50 to 80K to suddenly looking at something that was 165 and something
for 280,000 pounds. And then within the first
few months of Mastermind, again an enormous mindset shift with the kind of values
that we could acquire, with us finding the farm
that we will show you later. That was such a big leap of going to a property and looking
and purchasing a property that was nearly a million pounds. – Yeah, so as Ankie has said, this has been a massive
mind-shift change year for us. Another thing is that if
you would have told us a year ago that we will be able to raise 50K we would have laughed at you. Let alone hundreds of thousands of pounds. And that’s what we’ve done this year. We have, we were really fortunate that we managed to raise a
large amount of private finance. In fact, five of our
fellow Mastermind 25 family has entrusted their money with us which we are really grateful for. – And then for us another
thing about this year has been the opportunities that being part of this community and within the greater Mastermind
and PIN community creates because we were invited to become the Lincoln PIN hosts and relaunch Lincoln PIN and that process started in November and then we launched Lincoln PIN last month in February and we have our next meeting next month. And that was just an
incredible, incredible meeting and we’re so excited and
privileged for that opportunity. And also, a couple of weeks ago at Strategy Implementation Live, we were invited on the
sofa on stage with Simon to discuss how we have scaled up to these bigger deals
over our Mastermind year which was a really,
really awesome experience. And then the most important thing probably is the people and especially
you guys in the room. Guys, you will never know what your friendship and your support, your love, you picked
us up when we were low and you’re just, the network, is just been incredible, we can’t thank you enough for that. Really, you’ve really become our family. We were just saying this week that if you meet like a
group of 50 to 60 people like we are here, statistically, you would really only actually click with about 10%, so that
would be five to six people. And just looking around the room, how many of you, we’ve
become amazing friends with. It’s awesome. And then also for us,
the wide open community. Previous Masterminders
that have given us advice on financing the farm, on planning, on refurb planning and scoping out, it’s incredible the support
that is in this community. And also, our fellow PIN hosts and the people that we
serve on PIN teams with are also amazing. – Right, to move onto one of the deals that we’re going to show you. So we have bought this
pub in Workshop last year. We did a pub conversion, so
commercial to residential. We created a flat with an HMO. And we now have 14 rental units. So this was originally on the market for 230K on Rightmove
and we bought it for 165 so our total spent was 353K. And we’ve got an end valuation of 475. So our profit per year
is 36K which gives us 170% ROI so we’re pretty pleased
about this deal obviously. And the valuation that we got was 50K over the best
that we were hoping for. – Yeah, and the 170% ROI is calculated based on the fact that we left 21,000 pounds in the deal, but with our annual profit that is 36K that is then 170% ROI. And actually that is also investor money. So moving on to our second deal that we’re showing you. It is West Drayton Farm in Lincolnshire. So just a few pictures first to show you a little
bit about the property. So there’s a five bedroom farmhouse which is the picture on your far left. And then there was, a
picture of the grounds and an aerial picture of the property and then the other aerial picture just shows it a little bit closer. So you can see that it
goes in like a U shape with the properties along the right and then that brown building and the properties along the left and then there’s a four car garage and that green living barn in the corner. And then it’s set in 13 acres. So this property used to
operate as a farm years ago. It hasn’t been one for ages. So it’s a 13 acre property with a house and numerous outbuildings. And like I said earlier,
our strategy changed throughout the year
because after we found it and we saw the potential,
we decided that we would go for serviced accommodation
holiday let units. There will be 11 holiday
let units on this property that will sleep a total of 60 people. And we are doing it in
phased developments. We are currently underway with phase one which is the first six units
that are we developing. So we purchased this
property for 950,000 pounds. The vendors originally
wanted 1.1 million for it. But we got a discount on it. Our costs for phase one,
this is just phase one I’m talking about that
we’re working on right now, is 210,000 and then we
mortgage our first GDV which is in the summer after phase one, we can mortgage out at
a value of 1.5 million. And then our profit
per annum on this part, this is only for the first phase, our profit per annum is 60,000 pounds and that is with the first
six units being done. We haven’t yet added on the five units that are still coming. And that leaves us with a
60% return on investment for the money we’ll have
to leave in for this phase. And one of the amazing
things as well that happened as part of financing this deal was that we purchased a proportion of the purchase price was
actually done with vendor finance which we then had to pay
back six months later where we got some private investors in. But it really enabled us at the time to be able to do the deal. – Right, so this is just
a summary of our figures, what we’ve done this year. So apart from the pub and the farm, we’ve also bought a block of flats which that deal was exchange with delayed completion
for 400K, 400,000 pounds. We’ve also thrown a
single let into the mix and then we’ve secured
a rent to rent deal. So our total property value
is just under 2.1 million with an annual income of 120,000. – And then our equity calculated on that is that the equity that
we have of the 2.1 million is just over 1.1 million. And then something else
we wanted to just share as part of the figures that
we’re really, really proud of. Like Hannelie said, we didn’t believe a year ago we could raise 50K. We raised 900,000 pounds
in the last 12 months from 18 different investors. And some of them have
reinvested with us already after their terms
expired and three of them have made additional investments
with us of further funds. So it really is possible. – So what’s next? So as you probably have seen
from that aerial picture, that property is quite vast, so it’s going to keep us
busy for a number of years. So we are planning to
develop the other five units from October this year
and then once completed, we should have a gross
development value of 2.5 million and we’re planning to mortgage that out by the end of 2020. – And then something
else that’s next for us, Hannelie and I are both
really looking forward to having the time to
slow down a little bit. This year has been absolutely crazy and our feet have not touched the ground. But once we are done with phase one and we can give phase two
to a large build team, we are so excited that
we’ll be in a position to work on our actual vision. We’re both really passionate about working with churches and charities to be able to provide housing in our local area. And also to help with
the ageing population, housing crisis, to be able to provide housing for the elderly, so we can start working on that strategy once we’ve done this phase of the farm. – So in terms of our top tips. So the first one is to trust your gut whether it’s about a builder
or a tradesman, et cetera. If something doesn’t feel right, then there’s probably
something wrong, so walk away. – And just to add to that,
sorry Hannelie to interrupt you, but you guys know the amount of builder issues we had. You guys were picking us
up in those two months that we had extreme builder issues on the pub conversion. You know, in hindsight, if
we trusted our gut initially, in some of our first
dealings with these guys, it probably wouldn’t have happened, so that really was a
massive learning for us. – And then also, tell everyone what you do as Simon also tell us all the time is, because if people know what we’re doing, that’s where the money is
coming from, et cetera, as well as the support. – Yeah, so this one is a
lesson we have learned. My coach is in the back of the room and she knows that I’m still
learning it some weeks, but don’t have too much on if you want to have a life. So we nearly killed ourselves this year and we are really pleased that we did because of the result that we’ve had. But we don’t want to repeat the craziness of the
amount of moving parts that we’ve had going
because it’s great thinking you’re going to do a lot of deals but the reality is, one
deal will be in finance, one deal will be with legals, one deal will be in refurb planning, one deal will be in HMO
application, whatever. And there are so many moving parts that you don’t have time for your family or to have a life. – And then we could promise you that you will be out of
your depth numerous times. But that’s where the beauty of this group and the wider community comes in, where one really can
tap into the knowledge and the support and that
is really beautiful. – And trust the process, seriously, do what Simon says, whether
it’s for raising finance, whether it’s for finding deals, just do what Simon says and it will come. – And then most importantly, have fun. Have a laugh and work
with people that you like, whether that is true for me and Ankie remains to be seen (laughs). – You’ll like me again
tomorrow, it’s fine (laughs). Right, and so lastly,
we just wanted to give a few quick thank yous. Our biggest thank you goes out to God, a lot of you know that we are church girls and our Christian faith
is really important to us. And this year a lot of
things we sincerely believe would not have happened for us if it wasn’t for our prayer and faith that went into our deals. – Yeah, we feel truly
blessed for everything that has come, came our
way and eternally grateful. – So we wanted to also thank
our husbands and children. For me to Jaime, and
Connolly, and Jack, and Laura. My kids have sacrificed on family time, on days out, on Mummy time, and they’ve been an amazing support and the teenagers have been babysitting for me to do this, so thanks guys. – And to my husband Chris
and we don’t have kids, so he goes home to an empty house, so thank you for all your sacrifices, for being home alone, and for putting up with
me working silly hours. I couldn’t have done it without you Chris. And then also to our friends and family, for all their support and prayers. – To you guys, to our MM 25 family, we’ve seen more of you than we’ve probably seen of our own family this year (laughs). It’s a good thing we like all of you. (laughs) But seriously, guys,
for our WhatsApp group, long may it continue for these sessions, for Mastermind Extra, the buddy calls, the conversations, the visits to the farm, the support and encouragement, you’re awesome, thank you. And also to our investors, to
the five of you in the room, and to our other 13 investors, if it wasn’t for your investment with us, these dreams would not be coming true and we wouldn’t be standing
here today, so thank you. – Then to our coaches,
to my coach Bernadette, thank you so much for your wisdom, for your counsel, wise counsel, and for calming me down
because I needed it a lot. (laughs) – And for me, to Sally Cope, I could not, we were a
match made in heaven Sally. I’m so glad that you
were matched as my coach and thank you for being here. – And then also to our mentor, Rob McFunn. Thank you for being our champion, thank you for being so supportive for all your visits to the farm and also for telling
us to slow down in July but we didn’t’ really listen, but thank you anyways (laughs). – And then last but not least, Mr. Z, Simon Zutshi, thank you for
creating this programme, thank you for setting up this business in the first place, and thank you for giving so many of us the training and the opportunity to make our dreams come true. – And I echo everything
that Ankie has said Simon, but also, thank you for creating such an ethical environment which really resonates with us. – Yeah.
– Thanks. – So thank you guys.
– Thanks guys. – Love you all.
– Thank you. – Cheers. (audience applause)