Man with £4.8M Property Portfolio Chooses to Live with Parents to Avoid Expenses
Ahmed Khan, a 28-year-old man from Hertfordshire, has made an unconventional choice to live with his parents, despite owning a staggering property portfolio worth £4.8 million. Khan does not see the point in paying bills for his own home, considering it a waste of money. His goal is to secure a future where he never has to work again.
Growing up, Khan believed that success meant excellent grades and a high-paying job. However, he did not want to contribute to someone else’s mortgage payments. In December 2018, he purchased his first home for £237,000 and decided to rent it out. By using the rental income, he saved up for a second property.
Recently, Khan got married, and he and his wife currently reside at his parents’ house. He explained that moving out and spending a significant amount on his own home simply does not make financial sense. In Asian culture, it is common for children to live with their parents until adulthood, which also means they don’t have to pay bills.
Khan acknowledges that some people may judge him, assuming that he is struggling financially because he lives with his parents. However, he is unwavered by such opinions. In his opinion, the cost of living elsewhere is not worth it anymore, so he decided to invest his money instead.
Initially, Khan had considered buying a £200,000 property in London, using a £50,000 deposit. As he aimed to purchase multiple properties, he did not want to rely on his parents’ assistance. Instead, he established his own business, subletting homes as holiday rentals. Over the next two years, he managed to save £100,000.
Now, Khan wants to share his money-making advice with others, proclaiming that building a property portfolio can be achieved with as little as £30,000. He dispels the common misconception that substantial capital is required for such ventures, emphasizing the importance of wise investments. Khan advises against buying homes based on personal preferences and emotions. Instead, he suggests focusing on properties with the potential for profit, such as small one-bedroom flats that can be converted into two bedrooms or houses with sizeable gardens where additional properties can be built.
Khan suggests that buying an investment property before acquiring one’s own home is a smarter approach. According to him, new properties immediately depreciate in value, and he advises investing in rundown properties instead. Having already earned back most of his money, Khan now plans to use his expertise to explore other business opportunities.
Currently, Khan earns £5,616 per month from his rental properties and aspires to sustain this success to achieve a life where he never has to work again. He sees his properties as assets, whereas living away from home would be a financial burden due to the monthly expenses involved. While he is still young, Khan intends to use all his available funds to keep expanding his property portfolio until he is truly settled. He firmly believes that he has unlocked the true key to success.
In conclusion, Ahmed Khan has chosen to defy societal norms by living with his parents while amassing a property portfolio worth millions. He sees paying bills for his own home as a waste of money and prefers to invest instead. Khan’s experience and advice serve as inspiration for those aiming to build their own property portfolios with limited funds. Ultimately, he dreams of achieving financial independence and a life where work becomes unnecessary.
