A 28-YEAR-old man who owns 12 homes worth £4.8million has revealed he lives with his wife at his parents’ house.
Ahmed Khan, from Hertfordshire, doesn’t care if people judge him because he sees paying bills for his own home as a “waste of money”.
Ahmed Khan, from Hertfordshire, doesn’t care if people judge him because he sees paying bills for his own home as a ‘waste of money’[/caption]
He still lives with his parents despite getting married this year[/caption]
And he now hopes to never have to do a day’s work in his life.
Despite growing up believing success meant good grades and a high salary, he didn’t want to pay into someone else’s mortgage.
So he bought his first home in December 2018 for £237,000 and rented it out.
He used the rent to save for a second property.
This month he married his wife, and the pair live together at his parents’ house.
Ahmed told NeedToKnow.co.uk:“I don’t see the point of moving out and spending so much just to live in your own house.”
“However, I did get married this month, so we will have to look at moving out in the near future as we need more space – but if that wasn’t the case, I’d never leave.
“It’s very common in Asian culture for kids to live with their parents into adulthood, as that’s how the family dynamic works, which also includes paying no bills.”
He said others might judge him or think he’s “struggling financially” because he lives at home.
But he doesn’t care.
“Having your own home seems to be associated with success in this country and if you’re living at home, it means you’re struggling financially,” he added.
“But for me, the cost of living elsewhere isn’t worth it anymore, so I invested my money instead.”
Ahmed initially looked at buying a home in London worth £200,000, while putting down a £50,000 deposit.
As he was aiming to buy multiple properties, he didn’t want to ask his parents for help.
So he set up his own business subletting homes for others as holiday rentals.
Over the next two years, he had saved £100,000.
Now, he hopes to share his money making advice with others and claims that owning multiple homes can be done with as little as £30,000.
He said: “It’s a common misconception that you need a lot of money to build a portfolio, but this is wrong if you invest wisely.
“Most people buy their first home based on their personal preferences and where they’d like to live, essentially for emotional reasons.
“Instead, look at a property where profit can be made.
“Buy a small one-bedroom flat which can be turned into two bedrooms over time, or a house with a large garden where another house can be built.
“If you’re able to buy something that can add value, then you’ll be in a position to generate enough of a profit that can be used to buy the next.
“You’ll never be able to learn how to build a portfolio if money is given to you, it has to be done from scratch.
“Don’t buy something new, as it’ll depreciate in price straight away and always go for homes which are rundown.
“It’s also better to buy an investment property first before getting your own home.”
Ahmed, who has made most of his money back, is now looking at using his skills to invest in other business opportunities.
Currently, he earns £5,616 per month from his rental properties and hopes to continue the success so he “never has to work” in his life.
He added: “They’re an asset and living away from home would be a liability since it costs money every month.
“While I’m young, I want to use all the money I have to keep buying more and more until I’m settled.
“I’ve built a platform for myself where I never have to get a job and I’ve unlocked the true key to success.”
It comes after a landlord revealed she gives her tenants a rent holiday over Christmas.
His advice is to buy poor quality homes to make the most profit[/caption]
Ahmed in one of his homes[/caption]
September 21, 2023 at 02:58PM
from The Sun