Sławek Muturi emphasizes that he feels uncomfortable when he is called “Polish rental king” because he is “a fairly modest man”. He avoids answering the question questionhow big his “kingdom is, measured by the number of apartments for rent.” – I avoid answering this question directly because in Poland it is not entirely welcomed, unlike, for example, in the United States, where people openly boast about their successes and wealth – he says in an interview with “Forbes” Muturi, real estate investor and founder of the Mzuri Group.
How many apartments do you have to have to not work? “Money for life from five apartments”
The investor adds that envy is one thing, but another reason is that he would not like to “set a target for how many apartments you need to have” because, as he emphasizes, he is aware that many people follow his example. He says his company is Mzuri currently manages approximately 10,000 different apartments. He also manages apartments that he owns. He came up with a plan to retire early in 1995, at the age of 30. In “Business Studio” Gazety.pl Muturi explained in April that he decided to take such a step because he “doesn't like winter” and wanted to leave Poland in October and return in April the following year. A fragment of the conversation below:
He adds that to implement the plan he needed stable income “not resulting from work.” – I planned to stop working in 2013, just when my son turns 18, and the money for living will be provided by the rents from five apartments. Each rental is 200 dollars and I will have 1 thousand dollars for life – says Sławek Muturi in an interview with Forbes magazine. He emphasizes that in 1995 it seemed enough to him, so he started implementing it. – I bought my first apartment in 1998, the next one in 1999 and very quickly I had five apartments – he explains. However, the appetite increases as you eat. Muturi says he started aiming for 20 and pretty quickly exceeded that number. – Then it went away, and since 2009 I have had the so-called financial freedom – he adds.
Where did the “Polish rental king” get his money?
Sławek Muturi explains that the funds for the purchase of the first apartments initially came from the sale of a consulting company that he ran with a friend. He was also a consultant for the Arthur Andersen consulting company, where he earned “very good money.” money“. – In 2000, I became a partner there and I was able to buy two studio apartments for one salary – he explains. Another source is savings. As he argues, he was able to go to Łódź in 2006 and buy 10 apartments a week. He adds that back then studio apartments cost there between 25 – 35 thousand PLN “per item”, and the advance payment was 10%, i.e. approx. PLN 2.5-3.5 thousand. zloty. – I bought it notarized from a friendly notary, I had an appointment to sign the deeds every 40 minutes. It even looked funny because when I arrived there was already a queue sellers, even entire families, and everyone sold only to me – he says. Sławek Muturi explains that growing earnings plus savings and money from rent allowed him to buy more apartments.