By Paul Torrisi
Finalist in sequence 1 of BBC TV's highly renowned ''The Apprentice'', Paul Torrisi tells the tale of ways he outfitted the valuables enterprise that made him too profitable for Sir Alan Sugar. as much as the time that I entered ''The Apprentice'' I had spent 14 years in estate. whereas my buddies have been out having fun with themselves, I had mortgages placing around my neck and tenants to house. might i've got had it the other method? totally. yet I made my mattress, and whereas facing drug buyers, tough criminal offenders and worst of all, accountants, it dawned on me that this was once my new existence, and nonetheless is.'In this publication Paul Torrisi supplies a chronological account of his existence in estate from his first actual buy, to the current day. He begun on this planet of estate acquisition and letting while he was once simply two decades outdated, focusing on purchasing to permit 10 years prior to the time period used to be even coined. with out the aid of the valuables books and tv programmes that abound at the present time he needed to believe his personal means for far of his trip, stumbling upon difficulties as he stumbled on them. yet he acquired via it and during his personal inspirational tale he seeks to impart a number of the classes and knowledge he realized alongside the way'.
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Extra info for The Apprentice Property Master
The only thing I can say here is that no matter how much you want to try and help people with heroin addiction, the best way is to volunteer your services to specialist organisations set up to help them. Never try to help by letting property to them. Now then, onto a lighter note. Hard prison offenders To this day, after 16 years of property letting, the best tenant that I ever had was straight out of prison. He had just served 15 years. ’ Bad or not, he was around 50 years old, 6’4’, and kept the flat immaculately.
This saves the time, money and effort that goes into advertising, and when people come to you from an advert there is no time to get to know them – it’s you and your luck. Young tenants Youngsters would sometimes come to me for a place to rent, and I tried to avoid letting to them. Usually they would come because of an argument at home, and a couple of weeks later the argument had blown over and they wanted to leave. Furthermore, the HBD declared that 18 year olds were no longer entitled to housing benefit for a one-bedroom flat, suggesting that they didn’t need it.
Anyway, I digress. Saving up to buy carpet and heating systems and this and that meant that this new business of mine could support itself in difficult times. Exapnding my portfolio It was only at this point that I could reasonably consider expanding my property portfolio. Although financially things were going OK, the amounts of money involved were miniscule. £55 per week is not enough for all the work involved, but the rents could not really be increased. The town had a rental ceiling and that was £55 for a one bed – furthermore the HBD would only pay this amount for their claimants and most of my tenants were claiming benefit.
The Apprentice Property Master by Paul Torrisi