Bricks and mortar the future for Amy

Jan 28 2008 by Chris Knox, The Journal

A YOUNG entrepreneur hopes to become a millionaire within five years after setting up a new property investment company aimed at young people.

Alnwick-based Amy Fettis, 21, has set up Principle Property Investors (PPI) after leaving her job at Newcastle-based Highgate Property Investments and believes her experience within the sector will help her become a property tycoon in no time.

She has already acquired 50 properties for buy-to-let investors to purchase, including units at the new Hanover Mill development on Newcastle Quayside and 40 two-bedroom apartments in Sunderland that are currently under construction.

She also aims to create five jobs in the next five years, including three brokers and two support staff to help grow the business within the North-East as well as help expand it into the first-time buyer residential market.

The young businesswoman set up her first enterprise, online teenage fashion boutique www.missteen.co.uk, at the age of 16 while studying for her A-levels at the Duchess Community High School in Alnwick and hopes to integrate the site with PPI in order to entice young property investors.

She said: “Young people have always been at the forefront of my mind when going into business. Being young myself, I understand how hard it can be to get your foot on the property ladder. With this in mind, PPI represents a fantastic opportunity for young property investors as it is geared towards affordable properties and, in turn, affordable rents.

“Hopefully I will also be able to help many young people find their first home once the business is properly up and running.”

Drawing on the contacts she has gained throughout her burgeoning career in property investment, which included two years at Alnwick-based estate agents George F White, Amy has been able to establish a number of close business associates to work alongside PPI, including Newcastle letting agents City Padz and solicitors Hardington Hogg, also in Alnwick. She said: “We aim to take the stress out of each investment by introducing our clients to our preferred solicitor, mortgage broker and residential letting team, all of whom have been briefed about the development and are ready to work with each client.”

Through her experience in the property investment sector, Amy says that she is also able to broker discounts of between 15% and 20% with builders and developers.

And she is confident that she can get the business moving in the right direction.

She said: “There is no better time to invest in property. With the credit crunch, mortgages are proving harder to get and many young people, in particular, are looking at renting until the housing market improves.”