Joined Platinum Property Partners: November 2013
Previous Career: Stores Director
Portfolio Location: Rugby
Biggest Benefit: Time flexibility
In February 2013, Ed Bembridge got the news that he was to be made redundant from his role as Stores Director at a FTSE 100 retailer, after 21 years. It was a day he’d been anticipating in the latter years of his career and leapt at the opportunity to do something new.
Quickly ruling out alternative careers working for someone else, he and his wife, Bev, did some research into property investing. They came to the conclusion that that was the way forward, especially if they wanted a certain level of income and freedom to enjoy it.
They immersed themselves in everything property-related; read numerous books, subscribed to various trade magazines, attended trade shows and joined the Residential Landlords Association. By the end of April 2013, they’d gone sale agreed on five buy-to-lets, one of which they were going to convert into an HMO (House in Multiple Occupation).
At the same time, Ed also came across Steve Bolton’s book, 'Successful Property Investing', and decided to find out more about Platinum Property Partners.
Ed then visited the Platinum stand at a franchise show, spoke to a few existing Partners and watched Steve’s presentation. He was impressed. He also knew how franchising worked because in his previous role he’d carried out a feasibility test on franchising some of the stores. However, Bev wasn’t convinced in the slightest, even after attending a Discovery Day.
It wasn’t until they were invited to the Head Office in Bournemouth to meet with Steve that Bev turned. They finally signed up in November 2013 and 'wrote the biggest cheque of their lives'. Ed has also found that he’s made back the franchise fee in tax savings because of knowing how to correctly structure his property business. In just over three years Ed and Bev had achieved their income target.
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