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Mum Who Was Scraping By on Benefits Now Owns Businesses Worth £2m.

Mum Who Was Scraping By on Benefits Now Owns Businesses Worth £2m.

In 2016, Stephanie and Nicky’s mum became ill, which put more pressure on Stephanie, who was already desperate to find a job that would give her more time with her mum. Soon, both the sisters ended up setting two property businesses - Rent 2 Rent and HMO Heaven - which is worth £2m.

When Stephanie Taylor’s mum became ill she found herself struggling to balance her full-time job with her personal life. She used to scrape by as a single mother, living on just £49.80 a week on benefits.

The single mum started hunting for a more flexible way to earn money and cut back her hours. At the same time, her sister Nicky Taylor had also been going through a financial crisis.

With a little knowledge about business and a very small amount of savings, Stephanie was left with fewer options. It was not too long when she discovered that she could make a profit off other people’s investments, by renting out properties that didn’t even belong to her.

“But then I learned that there were people just like me, who had a few savings but not a lot and they were making money through properties that they didn’t own.
“A lot of them were doing it very shoddily” she adds, “I thought ‘oh my goodness’ we could do this just by adding care.”

Fast forward five years, the sisters, from Birmingham, ended up teaming up and setting up two lucrative property businesses - Rent 2 Rent and HMO Heaven - which take HMOs (houses in multiple occupations) belonging to landlords and give them a makeover before renting them out again to tenants.

 

Credits: Reach

 

While talking to the SUN #BOSSINGIT series, Stephanie said, "I was a single mum at 18 with my son Alex, I was on benefits. I didn’t have any qualifications and I had a lot of self-esteem issues.”

In 2016, Stephanie and Nicky’s mum became ill, which put further pressure on Steph. She was desperate to find a job that would give her more time with her mum when she became ill.

“My mum was more important than my job, but the way I was living did not reflect that.

Credits: Reach

 

“I was 45 at the time and I just thought, there must be another way that people are living.”

The sisters started up their HMO Heaven business in 2016 which is now worth £2million and later their Rent 2 Rent Success, allowing clients to rent out properties that don’t belong to them.

Credits: Reach

 

Amazingly the pandemic hasn’t had any negative effect on the sisters’ business - in fact, quite the opposite. Stephanie has cut back on her working hours, finding more time for herself and her mum.

“My time commitment is currently half a day a week and it’s not even quite half a day, it’s two hours a week,” she says, revealing that Nicky is also hoping to cut back her hours this year.

Nicky and Stephanie believe that anyone can achieve what they’ve achieved - they just have to have the right mindset.

 

Also Read: The World’s Billionaires Added $5 trillion to Their Wealth Amid Covid Crisis.


Article Source: Lad bible

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