Emma Wright built a mansion and made a £1.2m profit. She’s now investing it in 30 buy-to-let homes

When Emma Wright’s husband handed her £1m and asked her to invest it in property, she vowed to try to double the money within three years.

The 34-year-old housewife used it to snap up nine acres of land near Sevenoaks, Kent, and borrowed £2m-from the bank to build a palatial seven-bedroom luxury mansion.

The ambitious project was Emma’s first venture into property development but it has been a resounding success. She managed to sell the house to a foreign investor two months ago for £4.3m.

‘It’s the first time I’ve ever done anything like it, but no one who knows me is surprised I pulled it off,’ says Emma, a former sales manager for a credit-management company and now a full- time mother of two young children.

‘I approach life with a lot of confidence and I thought this was really no different from any other house transaction - you buy as cheaply as possible, don’t skimp on making improvements and sell as well as you can.’

Now she is ploughing her £1.2m profit into building a buy-to-let portfolio. Emma plans to purchase up to 30 houses near her home in Wadhurst, East Sussex, on a 60/40 split with a neighbour and friend Jacqui Hollie, 36, who wants to invest with her after they met at the school gate and started talking about property.

Her bank has offered a £1m loan facility at 1.5% above base rate and a maximum of 70% on each property if she wants to use it.

‘I realise house prices may still have further to fall,’ she says, ‘but I’m a cash buyer so I can negotiate hard. No one can predict when prices will recover again, but as long as I spread my purchases and buy one new property every couple of months, my portfolio should benefit from any further price falls and I won’t miss any opportunities.’

article.html?in_article_id=447747&in_page_id=56&position=moretopstories" target="_blank">READ MORE HERE >>>