Residents of a Liverpool street might be very surprised to discover that the new owner of a terraced house on their doorstep is a top musician who has played in front of thousands of people at major venues.
Fresh from releasing the official anthem for England’s Euro campaign, rapper Krept has been busy building a business portfolio out of his earnings from music by adding property to the “mix.”
And the artist – one half of the MOBO award-winning hip-hop duo Krept & Konan – has just completed an intriguing move in the market after buying a rundown house in Anfield for just £43,000.
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Krept snapped up the property at auction and set about converting it into a house share.
Five months later he is hopeful of picking up a profit from his investment.
He spent a total of £75,000 on the house which is now fully tenanted and bringing in £1,150 in rent per month, leaving him with what he hopes will be a healthy return.
He expects to get back all of his money by taking out a mortgage based on the new value of the three-bedroom house.
Krept said: “By refurbishing it, I’ve pushed the value up which means I’m set to pull out all my money to reinvest in another property.
“So effectively it’s a free house.
“Even with a mortgage of £250 a month and other expenses I will get a good return.
The celebrity already has his own record label, Play Dirty, and has teamed up in other business ventures with his singing partner who co-wrote England’s Euro football song, Olé (We Are England).
Now Krept, whose real name is Casyo Johnson, is looking to broaden his horizon further as he seeks to cement success both on and off the stage.
The 31-year-old became a dad for the first time last year and says he is always looking for new challenges in life.
He added: “I’m always thinking about the future and what I’m going to leave behind for the next generation.
“Also, I think about the worst-case scenario. What happens if lose my voice and I can’t rap.
“That makes me want to get up and do so many different things.
“I’m always up for expanding and doing something else, like property and business.
“I don’t think you should spread yourself too thinly, but I do feel there is always room to grow and elevate yourself.”
Krept credits well-known property developer Samuel Leeds for helping him to pull off the deal.
Leeds left school at 16, purchased his first house a year later and went on to become a property millionaire by the age of 21.
He also runs a training firm which teaches people how to become financially independent through investing creatively in the housing market.
After completing his house purchase, 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 rooms has a different colour scheme of orange, green and blue to give them personality, and will rent out at between £350 and £400.
The most expensive room has an ensuite with a large bath in it and another one has an ensuite with a shower.
As part of the renovation work, the kitchen was enlarged by removing a downstairs toilet and moving upstairs. A corridor was also knocked through to make a larger bedroom.
Mr Leeds said: “Krept made this happen and he’s been smart.
“Property investors talk about a deal washing its face meaning the rent covers the costs, the mortgage, the council tax and the bills.
“This property is not going to wash its face, it’s actually going to make cash flow which is really important.
“Improving rundown properties like this can also help improve areas and provide a better standard of accommodation for people to live in at a fair price.
“It’s important to remember too that property investing is not the exclusive domain of the privileged and wealthy.
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“Many people have become extremely successful in property despite starting out with very little in life.
“The most important qualities are to have a strong work ethic and a thirst for knowledge.”
Among Samuel Leeds’ other students is former Liverpool footballer Kevin Stewart, who Jurgen Klopp once described as the team’s best tackler.
The 27-year-old was sold to Hull City for £4m and now plies his trade with Blackpool who have just been promoted to the Championship.
Stewart says a “frightening number” of footballers struggle financially when they finish playing the game and he is determined not to let it happen to him.
He is about to complete his first commercial project – the construction of a 48-flat student apartment block in Birmingham city centre.
Stewart said: “There are many ways to make money, but I think property is the best vehicle for building wealth.
“Some of the returns you can get are huge, and it pays out every month. There are many different strategies you can learn.”
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