{"id":9574,"date":"2021-05-25T08:42:18","date_gmt":"2021-05-25T07:42:18","guid":{"rendered":"https:\/\/www.franchiselocal.co.uk\/news\/?p=9574"},"modified":"2021-05-25T08:38:01","modified_gmt":"2021-05-25T07:38:01","slug":"platinum-property-partners-faith-staniforth-case-study","status":"publish","type":"post","link":"https:\/\/www.franchiselocal.co.uk\/news\/platinum-property-partners-faith-staniforth-case-study\/","title":{"rendered":"Platinum Property Partners \u2013 Faith Staniforth Case Study"},"content":{"rendered":"Reading Time: <\/span> 3<\/span> minutes<\/span><\/span>

Faith knew nothing about property before joining Platinum \u2013 now she’s closing in on her fifth HMO.<\/p>\n

JOINED PLATINUM PROPERTY PARTNERS : <\/strong>2016
\nPREVIOUS CAREER: <\/strong>IT Project Manager
\nPORTFOLIO LOCATION: <\/strong>Greater Manchester
\nNUMBER OF HMOs: <\/strong>5
\nBIGGEST BENEFIT: <\/strong>Financial and lifestyle freedom<\/p>\n

Platinum\u2019s 390+ Franchise Partners have all had their own reasons for joining.<\/p>\n

For Faith Staniforth, however, it was an extremely difficult period in her life that led her to seek positive change through property investment.<\/p>\n

\u201cI was very fortunate that I had a long and loving marriage to my wonderful husband, Keith,\u201d says Faith.<\/p>\n

\u201cBut we all have a reason for change though and mine was a very personal one because my husband passed away suddenly.\u201d<\/p>\n

Faith\u2019s career in IT was all about planning, so it was no surprise that, having lost Keith before his time, she very quickly put a firm plan in place to safeguard her future.<\/p>\n

\u201cI had a fantastic career and when Keith passed away, I was working as Head of IT for Lloyds Bank\u2019s mortgage operation, so it was a big job and lots of pressure at a difficult time,\u201d adds Faith.<\/p>\n

\u201cI was 55 at the time, so I was already thinking more about retirement, doing less work and making life easy for myself.<\/p>\n

\u201cLosing Keith was a big shock, but I didn\u2019t want to be in a position where I was making changes for the wrong reasons \u2013 it had to be a positive change.<\/p>\n

\u201cIt took me a few years to get my head around what I could do and then in 2016 I joined Platinum.\u201d<\/p>\n

MOVING AT PACE<\/strong><\/p>\n

\"FaithAlthough she hailed from the North West, Faith had wider-ranging options for her chosen investment area.<\/p>\n

After \u201ca lot of due diligence\u201d, however, she opted for nearby Salford and moved to the Greater Manchester town so she could manage her properties easily.<\/p>\n

Faith\u2019s plan to quickly build a portfolio of four HMO properties was ticked off inside two years, thanks both to her own drive and enthusiasm and the accountability and support of the Platinum team.<\/p>\n

\u201cI couldn\u2019t have done it without the mentoring because my career was in IT and application development \u2013 I didn\u2019t know anything about houses other than the fact I lived in one,\u201d laughs Faith.<\/p>\n

\u201cWith the first four HMOs, I learned a huge amount and gained massive experience through repeating the programme that Platinum trains you in. It was incredible.<\/p>\n

\u201cEach of the four houses had something different about it, but prices started to rise in Salford quite quickly as we\u2019re close to Media City. I worked with Platinum\u2019s Buying Mentor Mike Dixon in 2016 when I joined, and we secured the first house for \u00a3180,000.<\/p>\n

\u201cIt\u2019s worth more than \u00a3300,000 now and I spent \u00a390,000 on the renovation.\u201d<\/p>\n

EXPANDING THE BUSINESS<\/strong><\/p>\n

After Salford council amended local planning rights in 2019, meaning HMOs in the town needed planning permission for change of use, Faith was getting itchy feet and started looking for her fifth property elsewhere.<\/p>\n

\u201cMy fifth HMO is in Macclesfield,\u201d she says.<\/p>\n

\u201cI came across a property there that had planning permission to be an HMO \u2013 but it was a commercial building.<\/p>\n

\u201cI\u2019d used up my capital on the first four houses so I needed to be creative and utilise my pension pot with this one to secure it and there\u2019s where the help from the Platinum Power Team came in, because using pension funds to buy bricks and mortar can be hugely complicated when you don\u2019t know what you\u2019re doing.\u201d<\/p>\n

Faith was able to secure the property for \u00a3100,000 and is spending a further \u00a3150,000 on the renovation \u2013 which will make the building a high-quality, eight-bedroom, eight-bathroom HMO and takes her total portfolio to an amazing 30 rooms across all five houses.<\/p>\n

BIG RETURNS<\/strong><\/p>\n

\u201cThe fifth HMO will generate \u00a340,000 a year in income,\u201d says Faith.<\/p>\n

\u201cMacclesfield is a new market for me, but I know with the standard of properties we create, we\u2019ll have no trouble selling the rooms.<\/p>\n

\u201cIt was a complex process to purchase it through my pension and there is actually still more to do on that front once the renovation is finished.<\/p>\n

\u201cI couldn\u2019t have done any of that without the Power Team of mortgage brokers, tax advisors and lawyers.<\/p>\n

\u201cI\u2019ve been using them all since 2016 and I\u2019m still using them because they give me the confidence to do things that are far more complex but far better in terms of returns.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Faith knew nothing about property before joining Platinum \u2013 now she’s closing in on her fifth HMO. JOINED PLATINUM PROPERTY PARTNERS : 2016 PREVIOUS CAREER: IT Project Manager PORTFOLIO LOCATION: Greater Manchester NUMBER OF HMOs: 5 BIGGEST BENEFIT: Financial and lifestyle freedom Platinum\u2019s 390+ Franchise Partners have all had their own reasons for joining. For […]<\/p>\n","protected":false},"author":2,"featured_media":9575,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[242,27],"tags":[],"class_list":["post-9574","post","type-post","status-publish","format-standard","has-post-thumbnail","category-platinum-property-partners","category-property-estate-agent-franchises"],"acf":[],"jetpack_featured_media_url":"https:\/\/www.franchiselocal.co.uk\/news\/wp-content\/uploads\/2021\/05\/Faith-Staniforth_4a-Park-Lane_Salford_7-Web.jpg","_links":{"self":[{"href":"https:\/\/www.franchiselocal.co.uk\/news\/wp-json\/wp\/v2\/posts\/9574","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.franchiselocal.co.uk\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.franchiselocal.co.uk\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.franchiselocal.co.uk\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.franchiselocal.co.uk\/news\/wp-json\/wp\/v2\/comments?post=9574"}],"version-history":[{"count":0,"href":"https:\/\/www.franchiselocal.co.uk\/news\/wp-json\/wp\/v2\/posts\/9574\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.franchiselocal.co.uk\/news\/wp-json\/wp\/v2\/media\/9575"}],"wp:attachment":[{"href":"https:\/\/www.franchiselocal.co.uk\/news\/wp-json\/wp\/v2\/media?parent=9574"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.franchiselocal.co.uk\/news\/wp-json\/wp\/v2\/categories?post=9574"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.franchiselocal.co.uk\/news\/wp-json\/wp\/v2\/tags?post=9574"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}