Euro 2020 rapper comes to Anfield market to strike £ 43,000 bargain
Residents of a Liverpool street might be very surprised to find that the new owner of a terraced house on their doorstep is a high profile musician who has performed in front of thousands of people in large venues.
Newly released from the official anthem of the English campaign for the Euro, rapper Krept has taken care of creating a commercial portfolio from his musical income by adding property to the “mix”.
And the artist – half of award-winning hip-hop duo MOBO Krept & Konan – just completed an intriguing move in the market after buying a dilapidated house in Anfield for just £ 43,000.
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Krept seized the property at auction and set out to convert it into a shared flat.
Five months later, he hopes to profit from his investment.
He spent a total of £ 75,000 on the house which is now fully let and earns £ 1,150 in rent per month, leaving it with what he hopes will be a good return.
He hopes to get all his money back by taking out a mortgage based on the new value of the three-bedroom house.
Krept said: “By renovating it, I increased the value, which means I’m about to take all my money out to reinvest in another property.
“So it’s effectively a free house.
“Even with a mortgage of £ 250 a month and other expenses, I will get a good return.
The celebrity already has her own record label, Play Dirty, and has teamed up with other business ventures with her singing partner who co-wrote the English Euro football song Olé (We Are England) .
Now Krept, real name Casyo Johnson, seeks to further broaden his horizon as he seeks to cement success both on and off the stage.
The 31-year-old first became a dad last year and says he’s always looking for new challenges in life.
He added: “I am always thinking about the future and what I will leave for the next generation.
“Besides, I think about the worst case scenario. What if I lose my voice and can’t rap.
“It makes me want to get up and do so many different things.
“I’m always ready to expand and do other things like property and business.
“I don’t think you should be too dispersed, but I think there is always room to grow and elevate yourself.”
Krept thanks well-known real estate developer Samuel Leeds for helping him close the deal.
Leeds left school at 16, bought his first home a year later and became a real estate millionaire at the age of 21.
He also runs a training company that teaches people how to become financially independent by creatively investing in the housing market.
After completing the purchase of his house, the London-based rapper was offered £ 110,000 for the Anfield house, but turned it down as it would have meant paying capital gains tax.
Each of the bedrooms has a different color scheme of orange, green and blue to give them personality, and will be rented for between £ 350 and £ 400.
The more expensive bedroom has an en-suite bathroom with a large bathtub and another has an en-suite bathroom with a shower.
As part of the renovation works, the kitchen has been enlarged by removing the downstairs toilet and moving upstairs. A hallway has also been drilled to make a larger bedroom.
Mr Leeds said: ‘Krept made it happen and he was smart.
“Real estate investors are talking about a deal that washes their face, which means the rent covers costs, the mortgage, council tax and bills.
“This property is not going to wash its face, it is actually going to generate cash flow, which is really important.
“Improving run down properties like this can also help improve areas and provide a better standard of accommodation for people at a fair price.
“It’s also important to remember that real estate investing is not the exclusive domain of the privileged and the wealthy.
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“A lot of people have become extremely successful in real estate even though they started out with very little in life.
“The most important qualities are having a strong work ethic and a thirst for knowledge.”
Among Samuel Leeds’ other students is former Liverpool footballer Kevin Stewart, whom Jurgen Klopp once described as the team’s best tackle.
The 27-year-old was sold to Hull City for £ 4million and is now plying his trade with Blackpool who have just been promoted to the Championship.
Stewart says a “scary number” of footballers struggle financially when they are done playing and he’s determined not to let that happen to him.
He is about to complete his first commercial project: the construction of a student building with 48 apartments in Birmingham city center.
Stewart said: “There are many ways to make money, but I believe that ownership is the best vehicle for building wealth.
“Some of the returns you can get are huge and they pay off every month. There are many different strategies you can learn. “
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