In this interview Michelle Cairns talks to Jamie Oarton about the benefits of working with Tim Matcham and having him as a mentor
Today we’ve got Jamie Oarton.
Great to have you with us. We’d just like to know a bit about you; a bit about your background; how you got into property. You work with Tim Matcham at the moment, as part of his coaching program. If you’d just tell us a bit about how you’re getting on with that, that’d be great.
Yeah. Sure. I’ve been involved in property now probably for five or six years. In the last sort of three or four years, I’ve sort of changed my model from doing single buy to let to HMOs. I’m very specific about the tenancy type that I’m looking for and the location. So, at my company, Jimeny, only looks to invest in South Manchester in the north-western UK. We’re looking for young professional lets. We sort of go high-end, really nice, high quality, big rooms, preferably all en-suites.
I got into property, realised that I wanted to increase my monthly income initially, so that I could free up a bit of time so that I could slowly reduce the amount I was working at my day job. Whilst doing that, came across property, saw HMOs as a viable model. We’ve got the one that’s been finished about a year ago now. That’s going really well. It’s full tenanted at the moment. We’re just about to start on the next one. We’ve got another two in the pipeline.
Looks lovely. Can you tell us about how you got involved with working with Tim?
Yeah. So, I was in a small mastermind group, which was run by Mike Stenhouse from Inside Property Investment and his wife, Victoria. They were running a really small little group, just five or six people in a similar situation to myself. We understood property, we understand how it worked, but we just wanted sort of a group to bounce ideas off and to support each other. In that group was a good friend of mine who invested property in Bristol. That friend had actually been working with Tim. It was through that friend mentioning Tim’s name and doing a bit of research.
I first reached out to Tim probably 18-24 months ago. At the time, I wasn’t quite in the right place. I had enough going on. I didn’t need any more help and support. So, we said hello, but we just left it there. About six months ago now, I re-got in touch with Tim and we discussed and I actually felt that that was the right time to sort of press the button to start working with Tim, mainly because I wanted to attract investors who are like minded; people who want to see these really high quality products supporting young professionals and at the same time, giving them a great return on their money.
Brilliant. Obviously you’re still working with him at the moment. Do you feel like … how has it kind of helped you shift your mindset?
Yeah, it’s good. So, I think probably the single biggest mindset shift that I’ve seen in myself is going from one of trying to find investors. So, me being proactively running around chasing after them, to attracting investors. Really, sort of almost doing the opposite; letting investors come to me. Tim has really helped me with that through helping me to crystallize exactly the type of property that I’m looking to invest in, the type of investor that I want to work with. Our main investor profile tends to be civil servants who are, or have been serving overseas. So, generally British diplomats or people who work for DFID or the MOD abroad.
The second group of people that we work with is sort of small business owners who have got SSAS company pensions and they don’t need that money for three to five years at least. They want a good rate of return on their investment, this isn’t their only £50,000 or £100,000 in the world. These are people who want that money to grow, but they definitely don’t need it in the near future. Some of them are more interested in learning about how we do what we do, and that’s fine. But most of them are pretty hands off. They just want to know that in three or five years time, they’re going to have an agreed amount more than they had when they gave it to me.
Brilliant. Well, all the best with your future ventures and thanks very much for your time. For anyone who’s listening, if you just click the link if you want to find out more about Tim and working with him. Great. Thanks, Jamie.
All right, brilliant. Thank you.
Jamie Oarton can be contacted at firstname.lastname@example.org
And for anyone who is reading this, here’s a link to book a call with Tim https://www.attractarmchairinvestors.com/book-a-call
So click the link if you would like to find out more about working with Tim.
Tim also has an online course – Property Ambition