Meet the 24-year-old who saved up to £1,500 a month, bought two properties and built a growing property portfolio while living with his parents

Meet Jacob Waddington, a 24-year-old from Lancashire who has managed to build a property portfolio while many people his age are still trying to save enough for their first home.The unusual part is not just his age. Since leaving college at 18, Waddington has been putting away as much as £1,000 a month, later increasing that to around £1,500 from a monthly salary of £2,200. He lived with his parents, kept his spending relatively low and eventually turned those savings into property.At 23, he and his girlfriend Holly bought a two-bedroom house for £98,000. A year later, they had another property, this time a 200-year-old cottage bought for £140,000.Meet Jacob WaddingtonWaddington started working for a telecommunications company after leaving college, earning £24,000 a year. Because he was still living at home and paid his parents around £200 a month, he was able to save a large part of his income.As his salary rose to £33,000, he was putting away about £1,500 a month.His lifestyle was relatively simple. He said he mainly spent money on going out at weekends, while he and Holly also enjoyed inexpensive activities such as walking and occasional meals out.The savings eventually gave the couple a different idea of what to do with their money.Instead of buying a home to live in, they bought one to renovateAs per LADBible, in May 2025, the couple considered buying a home together. But because neither was in a hurry to move out, they decided to buy a property that needed work, renovate it and potentially sell it.They paid £98,000 for a two-bedroom terraced house and put down a 25% deposit. They then spent about £20,000 renovating it.The work included a new kitchen, bathroom, boiler and replastered walls.By January 2026, around nine months after buying it, the renovation was finished. The property was then valued at £160,000.The first house became a rentalThe couple initially considered selling the renovated property but changed direction after seeing demand for rentals in the area.They remortgaged the house and rented it out in March 2026.The tenants pay £875 a month, while the couple's mortgage is around £430 a month, according to LADbible.That gave them another source of income while allowing them to keep the property.Then came the second houseThey bought a 200-year-old, one-bedroom cottage at the foot of Pendle Hill in Lancashire for £140,000.The historic location is associated with the Pendle witch trials, and the couple believes the rural setting could make it suitable for short-term holiday rentals.They plan to spend around £30,000 renovating the cottage and hope to eventually operate it as an Airbnb.Waddington estimates that if the property were rented for £120 a night at 60% occupancy, it could generate around £2,000 a month. After expenses including the mortgage, he estimates roughly £1,000 could remain.Those are his projections, rather than guaranteed returns.His approach is less about earning more and more about spending lessWaddington's story is interesting because his first step was not a high-paying investment strategy. It was saving consistently while his living costs were relatively low.His advice to other potential buyers is to consider properties that need work rather than automatically looking for a finished home.“Don't be afraid to buy something that needs a little work doing to it,” he said, arguing that a run-down property can offer room for its value to increase after renovation.The couple now plans to continue building their property portfolio before eventually buying a home for themselves.For Waddington, the journey that started with putting £1,000 aside each month at 18 has turned into something much bigger: by 24, he is already managing two properties and planning his next move.Looking for trusted parenting advice? Follow TOI Parenting Circle on Instagram for expert guidance, relatable stories, and practical tips delivered every day.Get the latest Lifestyle News and more. Download the TOI app.