Welcome back to How I Made It, Metro.co.uk’s weekly career journey series.
This week we’re chatting with Byron Cole, 39, a property investor and business coach, based in Surrey.
He is the author of a bestselling book, Self Made, written after selling several million pound businesses from scratch.
Bianca Miller-Cole, his wife and business partner, has even appeared on the Apprentice.
An avid investor, property has always been Byron’s passion, having worked on building his portfolio since his early 20s.
Having grown up on a council estate, and leaving school without qualifications, unsure of what he wanted to do, he calls his career journey a story of ‘rags to riches’.
Here’s how it all came together.
How did you begin your property portfolio?
It started with purchasing a two-bedroom maisonette in Mitcham, Surrey, for £139,000 in 2006.
At that time, I was earning capital by brokering property deals.
It was a really nice way to manage cash flow and to ensure that I had enough to keep investing.
What made you want to do that as a career?
My love for the television show, Homes Under the Hammer, piqued my interest in the property market and motivated me to pursue property investment as a career.
It seemed both exciting and lucrative.
We sometimes underestimate how much we can learn from TV shows.
What did you do before and how did you raise the funds to buy the first one?
I raised the funds for my first property by brokering a property deal.
I would hang out at places where high net worth individuals hung out, and I made lots of contacts.
Networking is still key to business success, and it’s something I make a point of doing often.
How hard is it to turn one property into several?
The timing between purchasing properties varies, and it becomes more accessible when you have the necessary capital and experience.
I would advise anyone who wants to go in to property investing to keep your credit file as clean as possible.
Pay your bills on time, and check it daily.
Also, don’t quit your day job, until you have enough monthly cashflow. Your day job can fund your deals!
An average day in the working life of Byron Cole
9am: The day starts with emails and other admin, while listening to motivational tapes.
11am-4pm: He’ll be on Zoom in meetings back to back, and a housekeeper makes breakfast and lunch so that he can focus on work.
5pm: He’ll aim to post at least one Instagram update, and continue working in front of the TV.
He adds: ‘To prepare myself for the pressures of running a successful business, I take a warm shower and gradually turn the water cold for three minutes. This puts my body in an uncomfortable state, which helps me handle stress better.’
How do you manage running businesses alongside this?
It can be challenging, but for me, it is all about proper time management and having the right team in place to support me.
I have built a brilliant team over the last few years, from admin to even my support at home.
Both my wife and I run a number of businesses together, so we ensure that our home runs tight.
What do you love most about your work?
I enjoy the variety that comes with entrepreneurship, and each day is different, which keeps me engaged and motivated.
What do you like the least?
I dislike the unpredictability of the property market, particularly at the moment which can sometimes be challenging to navigate.
How I Made It
Do you have an interesting job or career journey?
Email t[email protected] to share your story for How I Made It.
Source: Read Full Article