Property investor and businessman Nick Rowland has won the national Millionaire Maker Challenge after generating more than £2 million since the start of the year.
Rowland is one of 40 contestants who entered the competition – organised by Doncaster-based Touchstone Education last January – and was crowned champion last week after accumulating a portfolio of owned and managed properties with a combined value of £2.3 million.
His prize includes a VIP package worth £18,000 and an all-expenses paid trip to a Formula One race weekend with competition organisers Touchstone Education, a wealth training company.
Following his win, Rowland plans to launch a new venture that would help over-50s live more fulfilled lives through property investment.
He comments: “For me, it was never about becoming a millionaire; rather it was having the knowledge and confidence to help others.”
“Little did I imagine how much reach I would gain during the year. My Facebook profile had around 20 friends when I started - now I have 5,000, many of whom I thank for following me and voting for me.”
The Millionaire Maker Challenge aims to generate a property portfolio worth £1 million or more. Each participant submitted a business plan at the start of the year and those who passed an initial audition were ‘mentored’ by judges before facing a public online vote.
Rowland’s plan involved setting up a serviced accommodation (SA) management company in Liverpool and converting his occupational pension into a Small Self-Administered Scheme (SSAS), allowing him to invest in commercial property.
He says: “During the course of the competition I met all my objectives and even surpassed some. I grew my personal portfolio of SA units to five, with a value of £1.2 million. I also currently have 31 properties under management yielding an average income of £5k per month, and my first commercial venture, bought from my SSAS, cost £350k to buy, and when the project is complete will have a value of £1.1million.”
Rowland became involved in property investment following a career in banking and the Civil Service. He now plans to mentor others.
“I realised there were many people in their fifties and sixties in my situation – formerly successful people in their golden years who should be helping others by sharing their life’s knowledge.”
After being interviewed about Millionaire Maker on Expat Radio, Nick was offered his own weekly show, discussing property and personal finance. He says this has led to discussions about building and running retirement villages in several European countries.
“I also have plans to work with other broadcasters who want to use TV and radio to highlight the investment opportunities in the Northern Powerhouse towns and cities, by linking them to trusted property professionals and deals,” he adds.
“If the government can’t deliver on the Northern Powerhouse, then the private sector needs to mobilise, and I hope to be one of those leading the way.”
Paul Smith, founder and chief executive of Touchstone Education, says: “It is amazing to see Nick progress and go on to win Touchstone Millionaire Maker. We have watched all of our students grow over the year, the value that both the platinum mentorship and Touchstone Millionaire Maker has been amazing.”