Going from an underpaid PE teacher to corporate sales manager in his late 20s, Kevin Lucyszyn knew the value of money. That's why, in the early 1990s, he decided to use some of his commission bonuses to invest in a student HMO (House in Multiple Occupation) in Nottingham.
It was a decision that paid off, but when his work took him travelling more often and unable to manage the property, he was forced to sell.
A few years later, and potentially facing redundancy from a European Director role in the turbulent IT industry, Kevin decided to look at investing in student property again.
He knew it was an asset class that gave a good return, he knew he could do it and he knew it would provide some income security if and when he needed it.
Or so he thought.
"Having had a good experience with student HMOs before, it seemed to make sense to invest our life savings into property again," said Kevin. "I started enquiring with estate agents, and the choice seemed endless. In fact, there were currently 16 empty properties available for me to view. It made me realise that the market had changed significantly and maybe student properties weren't a good choice after all. I clearly didn't know what I thought I knew I was doing."
Still convinced that property was the market he wanted to be in, Kevin booked himself into a day of seminars at the London Property Show in 2007. He saw a series of presentations, most of which were promising that he could make millions without investing a penny of his own money. He didn't feel comfortable with that and was about to leave to get an earlier train home when he decided to stay for one more.
"Steve Bolton was talking about values and how being successful was about working together and helping others," added Kevin. "It was totally different to anything I had heard all day. It was all about ethical practices in property investment, and working as a team as opposed to against other people."
Soon after, Kevin became one of the first 10 franchisees to join Platinum Property Partners (PPP).
Luckily, the company he worked for was sold and he was kept on to lead the transition into new ownership. So while working full time, he also started to build his property portfolio. Enjoying his new business, he negotiated part-time hours and had two fully-tenanted properties within the first year and a third by 2009.
Then Kevin had the opportunity to project manage a new contract with his company. He ensured his properties were full and well-maintained but held back on growing his portfolio until the contract ended. He then bought two more properties and retired for good.
Kevin added: "It was a very enjoyable time. I was lucky enough to have a job I liked as well as a business, and an employer that was willing to be flexible. I was able to quickly replace my corporate salary while also being a hands-on grandparent."
Kevin has been with PPP almost 10 years. He has five HMOs generating a 17% return on investment and some of the longest-standing tenants in the entire network. He has used his experience to help new Partners and often presents top tips for managing tenants at National Workshops.
He is now looking to expand his property portfolio while mentoring his daughter, who joined the business in April this year. Until then, Kevin was extremely hands-on in running his properties, carry out all viewings and check-ins, handling all minor maintenance work and even doing the gardening.
But it was something he enjoyed and felt facilitated trusting relationships with tenants, as he explains: "There is never a typical day. I don't allocate certain times of the day to dedicate to PPP. I just fit it in around my life. I probably work on a 'tiny and very often' basis. Maybe it's because I find it hard to delegate, but I also enjoy it. I could be having my breakfast and get a text about a blocked shower, so I'll pop over later in the morning, or I could have a tenant viewing in the afternoon. I just fit it in around life."
The most enjoyable aspect of running his property business though is the satisfaction he gets from making his tenants happy.
Kevin commented: "I get great satisfaction seeing people move into the homes I have created and being happy there. It's great knowing that you are providing a valuable service to those tenants for that stage in their life and it's nice to see them move on to bigger and better things - getting their own place, getting married or relocating to take up a promotion."
Kevin credits his success to the confidence that PPP gave him to take a conservative risk: "Because of my cautious nature, I would never have spent £300,000 in six months on properties. But because the model, mentoring and support mechanisms were there and I could see other people had done it successfully, it gave me the confidence to accelerate into property investment in a way that I would never have done on my own. I'm even investing in locations that I would never have considered."
There are now more than 200 Partners in the PPP network, but Kevin made the decision to stay on as an Alumni Partner so he could continue to benefit from the sharing culture of the network and the Be More, Do More, Have More, Give More philosophy that inspired him so many years ago.
