Property Investment During COVID-19: How Slawek and Michal Kept Growing Despite the Challenges

By 2020, Slawek and Michal had made significant strides in property investment, steadily growing their portfolio from single buy-to-lets to HMOs. Looking to take their business to the next level, they set their sights on larger and more complex projects. However, just as they were scaling up, the COVID-19 pandemic brought unexpected challenges. While many investors faced delays and setbacks, they found ways to adapt, using the circumstances to their advantage and pushing their business forward.

Taking on Bigger Projects

At the start of 2020, Slawek and Michal decided to step up their game. They purchased multiple properties, including two major HMO projects:

• A standard terraced house, which they planned to convert into a 5-bed, 5-en-suite HMO

• A rundown 5-bed HMO, which they intended to renovate and upgrade into a 6-bed, 6-en-suite HMO

These projects were a significant step forward. Unlike their earlier HMOs, which involved relatively simple refurbishments, these properties required more advanced renovations, including:

• Installing en-suite bathrooms, which meant major upgrades to the water and drainage systems

• A rear extension for one of the properties—their first small-scale development

• More complex electrical work and structural modifications to meet HMO licensing requirements

This was a new level of investment for them, requiring a higher degree of planning, budgeting, and coordination. Up to this point, they had gradually increased the size and complexity of their projects, but these properties introduced challenges they had not yet encountered. The need for extensive work meant they had to carefully manage costs, ensure compliance with local regulations, and coordinate with multiple contractors.

Despite the added complexity, they were eager to take on the challenge. However, just as the work was getting started, everything changed.

How COVID-19 Changed Everything; Property investment during COVID-19

When the COVID-19 pandemic hit, lockdowns were enforced, businesses shut down, and uncertainty spread throughout the property market. Many investors faced delays, financial strain, and uncertainty about how to move forward. Supply chains were disrupted, builders and tradespeople faced restrictions, and the property sector slowed down in ways that no one had predicted. Property investment during COVID-19 required quick adaptability, problem-solving, and a willingness to navigate new challenges.

For Slawek and Michal, the timing of the lockdowns presented an unexpected opportunity. Up until that point, managing their growing portfolio while working full-time jobs had become increasingly difficult. The transition to remote work suddenly gave them more time to focus on their business.

With no long commutes, they could dedicate their mornings, evenings, and breaks to pushing projects forward. They quickly adapted to working with brokers, solicitors, and contractors remotely, ensuring that their projects stayed on track. Instead of putting their plans on hold, they found ways to keep the momentum going.

The biggest advantage was that they no longer had to balance site visits and meetings around their full-time jobs in the same way. With greater flexibility in their schedules, they could be more hands-on with project management, overseeing key aspects of the work even when access to properties was limited.

However, the pandemic also created logistical hurdles. Delays in sourcing materials became a common issue, with certain items taking much longer to arrive than usual. At times, restrictions on movement meant that some contractors were unable to work on-site as scheduled. This forced them to adjust their timelines, problem-solve quickly, and remain flexible in their approach.

Hands-On Renovation in London

One of the properties they acquired during this period was a small buy-to-let in London, purchased just before the first or second lockdown. However, COVID-19 restrictions created a major challenge—they couldn’t hire an experienced team to renovate it.

With limited options available, they decided to handle the renovations themselves.

For the next five to six weeks, Slawek and Michal worked tirelessly to transform the property, tackling:

• Installing a new kitchen and bathroom

• Running new electrical cabling

• Woodwork, flooring, and painting

Since Slawek was based in London, he managed the project on-site nearly every day, while Michal traveled in for three to four days a week to help with the heavy lifting. This hands-on approach was reminiscent of their first-ever buy-to-let renovation, but the scale of work was larger this time around. Despite the challenges, handling the renovation themselves saved them a significant amount of money.

This experience reinforced an important lesson for them—while hiring professionals is necessary for large-scale projects, knowing how to do renovations themselves gave them more control over costs and timelines. It also allowed them to continue moving forward at a time when many investors were forced to pause their operations.

A Strong End to 2020

Despite the challenges of the year, by the end of 2020, every project was completed, and tenants moved in quickly. Both HMOs were fully tenanted, and the London buy-to-let was successfully rented out.

Beyond the success of the properties, 2020 marked a major turning point for Michal—he finally reached financial independence.

With the rental income from their growing portfolio covering his expenses, he was able to leave his full-time job and dedicate himself fully to the business. After years of hard work, this was a huge milestone, proving that their investment strategy was working and that financial freedom was truly within reach.

While the year had presented unique obstacles, it had also provided them with opportunities to grow. The ability to adapt, stay focused, and push forward in uncertain times was key to their success. By taking calculated risks and remaining persistent, they had managed to expand their portfolio at a time when many were scaling back.

As 2020 came to a close, Slawek and Michal had not only navigated one of the most unpredictable years in recent history but had come out stronger. The lessons learned during this time set the foundation for even greater success in 2021 and beyond.

Stay tuned for our next blog post, where we’ll share what came next—the lessons learned, the next big steps, and how they continued growing the business.