Why, today, im gon na be revealing my new six hundred thousand dollar investment. Now i know six hundred thousand dollars is a lot of money, and videos like this can sometimes be unrelatable, but trust me im going to be breaking down exactly how much this has cost to me. Why i find it a great investment as well as sharing a few mistakes along the way that have cost me over thousand dollars? The truth, is you never know who youre gon na be in five years? I never thought id be a boomer on youtube, but here i am so its important to soak in as much knowledge as you can. Whenever you can, because it will come in handy one day and you might be able to avoid the mistakes ive made and save yourself some of that sweet dollar, so ive currently got major building works. Going on at my house as we build out what i like to call the north wing, but before we dive into this, make sure you destroy that like button for the l tube, you go rhythm, so this video can be pushed out to more. Like minded people, a little tap of that like button, is always greatly appreciated and, with that said, lets look at my new investment im actually really excited to share this with you, as you can see, theres a lot going on at the tilbury estates. At the moment, im building out the entire north wing im going to walk you through each and every room and explain how much its actually cost to build, and also all the lessons ive learned along the way.
Its important to note that, as im based in the uk and as we dont use, a lot of lumber building supplies often cost a lot more than they do in america. The foundations alone for this project cost over a hundred and fifty thousand dollars. So you can soon rack up a hefty total on a project like this. This is because my house is built on clay and we had to pile the foundations in, and some of those piles had to go down 13 meters deep room. One is the gym. Where im going to be doing some of that jimmy stuff, i really promise to be getting to it and laying off these jammy wagon wheels. No, but in all seriousness, this room is costing me a hundred and fifty thousand dollars im allocating this section of the north wing to gym space because, as ive grown older ive begun to realize you can have the biggest house, the fastest cars and everything youve ever Dreamed of, but if youre not looking after your health, you might not have as much time to enjoy these things as youd like theres, a reason people say, health is wealth and thats. Why? I find this expense really worthwhile, not only for me but my family. Also, this room is going to have a glass roof of plenty of natural daylight when working out, i cant wait to see the completed version, but one thing i am dreading is getting this room out with all the equipment, its going to be a nightmare.
My mistake here was becoming quote blind. I was dealing with so many different companies. At the same time that i got a bit bamboozled really. I need the glass roof to electronically open when its too hot and close when its too cold or raining, because it does a lot of that in england. But the quote i accepted did not include this feature. So now i have to pay an extra 2 500 to have this installed correctly, so id make sure to always read quotes correctly, especially when dealing with multiple quotes at the same time, its easy to get complacent and assume. The quote has everything that you need room? Two courtesies media office, which is setting me back around about a hundred thousand dollars, which quite a lot of money dont, you think just so curtis, can pretend hes working only kidding the truth. Is i dont mind what he gets up to in there as long as hes going to be paying me rent every single month for the use of the space, because you know im all about that sweet, passive income, but in all seriousness, curtis will pay rent each Month which he can use as a tax write off as he needs the space to operate his business. This will generate me passive income and will also allow him to write off profits for a much needed media space. I think its a great idea to have a nice professional office as it can really help boost your productivity.
The big mistake here was not hiring a project manager for this job, as there have been lots of little mistakes. Ive noticed along the way. This all could have been avoided with a project manager, but i really didnt want to fork out a load of dosh, but in hindsight this could have saved me a fortune. So i filled this gap and stepped in as somewhat of a project manager, and i noticed an issue with the roof that needed altering as well as some extra plumbing and electrical work. This sent me back eight thousand two hundred and fifty dollars. I think the key takeaway here is: you dont, need a hundred thousand dollar office to be productive, its all about setting your workspace up, how you like it and finding what makes you work best. Curtiss screensaver reads: stop messing around and do some work to remind himself that theres always some work. He can be doing and thats just one little trick that works for him. But i think, if curtis can kick this room out exactly how he likes it and create his ultimate work environment then ill probably struggle to get him out of there. If youve got any suggestions for what curtis can put in the office, let us know down in the comments because we read all of them. Room three is the guest suite which is coming in at around about 250 000, which is quite a lot of money, and you might be thinking mark.
How can you justify that? The truth is. I have a few ideas in mind as how i can make this suite pay for itself, so this guest suite is going to be fully kitted out with everything needed for a nice nights, sleep as well as having its own ensuite, bathroom and hot tub right outside Now i know this might sound a little bit crazy, but the hot tub isnt actually for my benefit like ive, got time for that, but i thought itd be a nice touch for when my family members come to visit. But the master plan here is airbnb, as the north wing is fairly separate from the main house. I thought itd be a great idea to kick the guest suite out to a high standard and rent it out on nights that were not using it. My house is located in a popular area, so i know i can charge high prices as long as the works done to a high standard, which it will be especially with me as a project manager. Nothing slips by me. This is going to be a great way to generate fairly passive income, as well as helping recover the cost of the entire project. Im not entirely sure how often ill rent this out, as i do, want the room to be available for relatives as well as our assistant kai. Whenever we need the space by having team members around when needed. This will actually help maximize our time and allow us to make more income, but i think its still a great idea to have the suite airbnb ready.
Should the time come now. I really messed up on this guest suite, because i was thinking about the project for too long instead of just getting it done during this time. The price of building materials skyrocketed due to lack of supply, high demand and also inflation. This combined with worldwide staff shortages has cost me a whopping, fifty thousand dollars much like investing and time in the market. Sometimes waiting is the worst thing you can do, as prices can just continue to rise. If you want to start investing public have given away a free stock worth all the way up to a thousand dollars if youre in the usa and if youre in the uk free trade are giving you a free stock worth up to 200 pound ill leave. The links down below, if you want to pick them up area 4, the courtyard and this is for general, entertaining hot tub barbecues at 75 000. It ought to be fun. This space is going to be lovely in the sunshine if we ever get any, but its also pretty crucial for airbnb having a nice garden area with a hot tub and bbq means. I can charge more per night for the use of the suite, which is exactly what im, after when ive gone away with my wife and used an airbnb ive quite often sorted it to include a hot tub. So i think a lot of people do that. The trick is to buy something once like a barbecue or a hot tub, and continue to make money from it with little to no maintenance thats the beauty of passive income, sometimes its the little things that can allow you to generate more revenue from customers.
You can take this strategy and apply it to almost any side, hustle or business its all about finding what works well for you and building something around it for your customers to enjoy. To be honest, this courtyard has been a bit of a nightmare due to some miscommunication. The whole courtyard was actually bouncing like a trampoline, because the structural engineers made a mistake. This miscommunication caused many delays and lots of hidden expenses. I never expected since then all the bricks have been removed and the entire structure has had to be redone. All in all, this mistake has cost me three thousand dollars, but the engineer has agreed to pay half and thats, not even accounting, for the meetings and time away from my businesses that ive wasted trying to get this resolved. So in total, these silly mistakes have cost me sixty two thousand two hundred and fifty dollars, and most of them could have been avoided. Had i just looked at the quotes properly hired a project manager and communicated better with the structural engineers. I really cant wait for this all to be completed because the racket theyve been making while weve been filming, has been horrendous and its been going on for a little while now. But i wanted to wait for some real progress to be made before showing it to you all. This should be a really great investment, because not only will it improve my familys lifestyle, it will also add value to my home and continue to rise over time.
I first purchased this property for a lot less than its worth today. So hopefully it will continue to rise and stay in my family for generations to come. Not every investment has to make a ton of money for it to make sense, sometimes its important to invest in the form of leisure and relaxation. If my property is better for relaxing as well as working, it should massively improve my lifestyle and productivity with anything real estate, its always good to compensate for an extra 20 in the cost, as well as time as things often take longer than youd hope and problems. Do come up along the way? Let me know in the comments below, if you would be interested in a full house tour once all the madness has calmed down and all the building work has been completed so im going to leave the next video right up there, but dont click on it. Just yet make sure to subscribe.