Couple's gamble pays off as they buy a £400,000 investment property in Wakefield

In 2009 Helen Lodge maxed out her credit cards and enrolled on a course with a property investment training company.

Thursday, 29th July 2021, 12:13 pm
Updated Thursday, 29th July 2021, 12:14 pm
The Georgian property on South Parade will be given a new lease of life.

It was a gamble and she went ahead before telling her husband Phil what she’d done.

Luckily, when he found out, he was firmly behind her plans and his faith in her has paid off.

Helen and Phil have just completed a deal on a £400,000 property in South Parade, Wakefield

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Phil and Helen Lodge are embarking on a redevelopment plan to convert 5, South Parade in to 14 luxury flats

Phil is a self-employed joiner and shopfitter and was working away from home for days and weeks at a time leaving Helen at home with two young children.

The couple wanted a better work life balance and entering into the buy-to-let market seemed to be the way forward and a way to realise their dreams of one day retiring to the south of France

After completing their training at the academy they bought their first property after refinancing their home and using private investors.

They began adding to their portfolio as funds became available.

There are still some period features remaining but many have been stripped out

They now own a number of houses and flats and Helen manages them all through her lettings business based at her home in Cotton Street, Thornes.

She is also an ambassador for Asset Academy,supporting other investors as they start their property journey.

The magnificent Georgian property on South Parade is Grade II listed and was most recently was the home of the Crown Prosecution Service and Hodsons Insurance Brokers.

Unfortunately, some of the original period features have been lost over the years due to unsympathetic redevelopment but Phil and Helen are keen to retain what remains.

The plan is to create 14 one and two-bedroom luxury apartments over the four floors of the building once final planning permission is approved - a decision which is imminent.

Helen said: “Although it was scary when we first set out back in 2009 I had complete faith that we were doing the right thing.

“Our aim was to have complete financial security for our family and make our business recession proof.”

Phil added: “We can’t wait to start work to restore this lovely old building back to its former glory.

“Once we complete the conversion - hopefully within 12 months - our next project is to buy a plot of land and build our own house.”