In this episode of the Scottish Property Podcast, we sit down with Barry John Cole, a former professional footballer turned successful property investor. Barry John shares his remarkable journey from the football field to building a seven-figure buy-to-let property portfolio in Glasgow. He dives into the strategies he used to fund his investments, how he leveraged creative financing, and his advice for aspiring property investors. Whether you’re just starting out or looking to scale your investments, this episode offers valuable insights and practical tips.
Episode Highlights:
Barry John’s Football Career:
Starting as a goalkeeper, Barry John recounts his time playing for teams like Celtic and Motherwell.
A back injury ended his football career, pushing him to transition into property.
Transition to Property:
After leaving football, Barry John began working in tiling and bathroom renovations, eventually leading him to property flipping and buy-to-let investments.
He started small with flips but quickly realised the potential of building a rental portfolio for long-term financial stability.
Creative Financing:
Barry John explains how he funded his property investments using various methods, including joint ventures, bridging loans, credit cards, and private investment.
He shares a detailed case study of buying a portfolio of 16 flats in Glasgow, negotiating the deal, and refinancing to pull out all of his initial investment.
Property Investment Strategies:
Focus on prime locations: Barry John discusses why he prefers investing in Glasgow due to its strong rental demand and potential for capital growth.
Avoid small towns and villages: He advises against investing in areas with low demand and minimal capital appreciation, even if they offer high cash flow.
Building relationships: Barry John stresses the importance of building good relationships with surveyors to ensure accurate property valuations.
Challenges and Successes:
Barry John candidly shares the challenges he faced, from managing properties to handling difficult tenants and dealing with market fluctuations.
He discusses how he built his portfolio without using his own capital by leveraging deals and raising private funds.
Personal Insights:
Barry John talks about balancing his business with family life, raising four children while expanding his portfolio.
He also shares his thoughts on potentially moving to Dubai and managing his properties remotely.
Social Media and Private Investment:
Barry John highlights the power of social media in attracting private investors, showcasing his projects, and building credibility in the property industry.
Tune in to hear Barry John’s inspiring journey, learn how he built a seven-figure portfolio, and gain valuable insights into property investment strategies that work. Whether you’re new to property or looking to expand, this episode is packed with actionable advice.
