Ahmed Khan, a 28-year-old property owner with a £4.8 million real estate portfolio, has divulged that he continues to reside with his parents rent-free and has no intentions of seeking conventional employment.
Despite his relatively young age, Khan has amassed an impressive property portfolio, which he began building in December 2018 when he acquired his first property for £237,000. He employed the rental income generated from this initial investment to save for subsequent properties, all while enjoying the financial perks of living with his family without the burden of monthly bills.
Having recently purchased his twelfth property, Khan remains steadfast in his decision to reside with his parents, asserting that moving out and incurring associated expenses would be an unwarranted “waste of money.”
In an interview with http://NeedToKnow.co.uk, Khan expressed his perspective, stating, “I fail to see the rationale behind leaving home and incurring substantial expenses merely to dwell in a property I already own. However, I did recently get married, which necessitates us to consider relocating for the sake of additional space. Nonetheless, if not for this circumstance, I’d have no inclination to depart.”
He explained that living with one’s parents well into adulthood is a common practice in Asian culture, where it aligns with the family dynamic and often entails the privilege of not bearing financial responsibilities such as utility bills.
Khan further highlighted the societal perception that owning one’s home equates to success, whereas residing with one’s family may be erroneously associated with financial hardship. Nevertheless, he stressed that the cost of independent living no longer justifies the move for him, given his financial investments.
Initially contemplating a £200,000 home in London with a £50,000 deposit, Khan’s vision of acquiring multiple properties led him to establish his own business, focused on subletting homes as holiday rentals. In the span of two years, he managed to save £100,000, thereby initiating his property investment journey. He later sought financial support from private investors to fuel his expanding real estate endeavors.
Khan aspires to share his wealth-building insights with others and contends that building a diverse property portfolio can be achieved with an initial investment as modest as £30,000. He advises prospective investors to prioritize properties that can yield profits, focusing on practicality rather than personal preferences.
His monthly rental income currently amounts to £5,616, and he harbors aspirations of sustaining this success to avoid traditional employment altogether. Khan regards his property holdings as assets, contrasting them with the perceived liabilities of living independently, which entail recurring monthly expenses.
As he continues to pursue new business opportunities, Khan believes he has constructed a platform that will enable him to forego traditional employment and unlock what he deems to be the true key to success.