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Property Developer, Aged 24, Buys House For 10k And Increases Value by 550 Percent

Jake Knotman, only 24, has successfully tranformed his property- adding on a staggerring 55k to the overall price.

Credit: annawaldl/Pixabay

Jake Knotman, only 24, has successfully tranformed his property- adding on a staggerring 55k to the overall price.

The former estate agent started out in property by joining an estate agent when he was 17. He learned as much as he could with them and decided he was going to get into the property market.

It hasn’t taken long for Jake to amass a property empire for himself since and is now the proud owner of seven properties. One of the properties is being turned into eight different office spaces, in Jakes’s first venture into the commercial property market.

In a recent Instagram post, Jake gave some life advice to his followers, stressing that “life is just a mental game”. Jake has recently been on the Property Pal’s Podcast and spends a lot of his time giving advice for individuals who are also just starting out in the property market.

Jake recently spoke to Lad Bible, where he explained he was most proud of his recent venture. He and his buissness partner, Gary Kay, bought a property in Burnley. The house was derelict and in an awful state, but they were able to buy it for just 10k after building good “relationships with the council”. 

Jake and Gary decided not to sell the property on, and are instead letting out the rooms for £85 a week; creating a steady stream of income to fuel other projects they are working on. 

The young entrepreneur has said his “greatest” achievement, however, is building a complex of ten apartments in the center of Manchester. He added that he learned a lot from this project.

With the money he has amassed from his different projects, Jake has been able to fulfill his wish of traveling the world. He has recently been on trips to Dubai, Singapore, Qatar, and Hong Kong. Jake gushed “It’s honestly been incredible to meet with some interesting people all around the world who are also in property.”

With so many individuals looking to go into the property market, he has given a few top tips that he thinks are the most important to learn when going into property:

1) Learn from others who are doing exactly what you are doing.

2) Get practical with your learning.

3) Experience is the best teacher.

4) Invest in your education.

With these tips above, and our best property tips, you should be well on your way to making a property investment dream a reality.

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