Riches When Others See Rags with Hayley Andrews
Last updated: 16 Aug 2024
Meet Hayley Andrews
In this episode, we are introduced to Hayley Andrews, an expert property investor with over two decades of experience. Hayley is renowned for her ability to identify and develop properties that others have overlooked, often turning distressed buildings into high-performing assets. With a diverse portfolio that includes residential and commercial properties, listed buildings, and even museums, Hayley is a true master of seeing riches where others see rags.
“Always start with the end in mind and work backwards. Have your goal, but don't be tunnel-visioned on the path. The path will change, your desire will change, your appetite for risk will change. You will just get better at doing what you're doing,”
Starting with the end in mind
One of the key insights Hayley shared during the session is the importance of starting with a clear goal but remaining flexible in how you achieve it. She emphasised that while it’s crucial to have a vision, the path to get there may evolve over time.
Identifying hidden value
Hayley’s investment strategy revolves around identifying undervalued properties that have the potential for significant value uplift. She shared numerous examples of how she has successfully navigated complex property deals by focusing on problem-solving and recognising opportunities that others missed. Whether it’s dealing with listed buildings, properties with planning refusals, or distressed assets, Hayley’s ability to see potential where others see obstacles is a testament to her expertise.
Case Study 1: Turning a Distressed Property into a High-Yield Asset
One of Hayley’s standout deals involved a distressed property in a rapidly developing area. The property was purchased at a significant discount due to its condition and the seller’s urgency. Hayley saw the potential in the location, given the planned infrastructure developments and increasing demand for housing in the area.
Strategy:
Renovation: Hayley invested in a comprehensive renovation, transforming the property into a modern, desirable rental unit.
Refinancing: After the renovation, the property’s value increased substantially, allowing her to refinance and pull out much of her initial capital.
Rental Income: The property was then rented out at a premium, given its upgraded condition and prime location, yielding a strong cash flow.
This deal exemplified Hayley’s ability to spot undervalued opportunities and add value through strategic renovations, resulting in a high-performing asset.
“The secret to success: flexibility and perseverance”
Another valuable piece of advice Hayley offered is to maintain flexibility and perseverance in the face of challenges. Property investment is not a passive endeavour, and success often comes to those who are willing to put in the work and adapt their strategies when necessary.
“Property investment is all about flexibility and perseverance. The market will challenge you, but if you stay adaptable and committed, you will find success,” Hayley notes. Her experience in navigating the ups and downs of the property market has taught her that resilience and a willingness to learn are key to thriving in this industry.
Case Study 2: Leveraging a Mixed-Use Property for Maximum Returns
Another successful venture involved acquiring a mixed-use property in a busy town centre. The property included a ground-floor commercial unit with residential units above. The commercial unit had been vacant for some time, which discouraged other investors.
Strategy:
Commercial Tenant Acquisition: Hayley negotiated with a reputable chain to lease the commercial space, ensuring a reliable income stream.
Residential Conversion: She then focused on converting the upper floors into high-spec apartments, catering to the demand for quality housing in the town centre.
Yield Optimization: By securing long-term leases for both commercial and residential units, Hayley maximised the property’s income potential.
This case study highlights Hayley’s skill in identifying properties with multiple income streams and optimising each component to enhance overall returns.
A winning approach to property investment
Hayley’s success is not just about finding the right properties but also about the relationships she builds and the strategic decisions she makes. She highlighted the importance of understanding the fundamentals of various investment strategies and being open to new opportunities as they arise.
“Focus on solving problems, and you will find success. Every property has potential, but it’s up to you to see it and unlock it,” she shared, underscoring the importance of a proactive and solution-oriented mindset in property investment.
Conclusion
Hayley Andrews’ approach to property investment is a masterclass in finding value where others see none. By starting with a clear goal, remaining flexible, and focusing on solving problems, investors can transform overlooked properties into profitable investments. Her experience and insights offer valuable lessons for anyone looking to succeed in the competitive world of property investment.
For more detailed insights and practical advice, watch the full episode of Deal Finder’s Corner with Hayley Andrews. If you enjoyed this session, let us know in the Property Filter live chat, and we’ll bring more experts like Hayley to share their invaluable knowledge.
