Meet the man who founded it, Joe Billingham
Prosperity Wealth’s founder, Joe Billingham, has a long career in property. As the founder of Prosperity Wealth in 2007, Joe’s 25 years in the property arena has seem him acquire, build and create some of the most innovative products in the property investment sector.
An early start on investment
From the early nineties, Joe was purchasing, refurbishing and selling properties at a local level. Already underway with his personal portfolio, he was able to utilise the capital required for the company’s imminent expansion. Five years later, his business was well underway; now assisting its early clients in building privately owned residential portfolios. By the late nineties, he was securing bulk purchases from PLCs – required to supply what became an ever-expanding investor client base.
Into 2000, with a team of professionals managing over 400 residential properties with a combined value of £64 million for clients nationwide, his focus shifted to an emerging UK commercial property market, acquiring prime city-centre locations. Mainly large multi-use facilities for let, these contributed to substantial growth in the company, as well as a rapid insurgence of private investor interest.
In 2005, armed with this investment appetite for alternative, higher yielding investment locations from his UK client base, Joe was keen to capitalise on the un-tapped opportunity within some of the newer EU countries thus venturing overseas into what he believed would be prime investment hotspots. As one of the first UK developers onto the Cypriot and Greek islands, Joe created joint ventures with local developers to deliver over 1000 properties across specially selected sites, securing high-yielding, high-profit returns for his investors.
In 2007, seeing all of the signs of an imminent slump in the housing sector, Joe returned to distressed residential property. This time buying, refurbishing and re-selling property portfolios into the investor market. Ensuring a hands-on approach to any project, his unrivalled knowledge of market trends served him well in securing high yielding investments within the sector. As the UK property sector remained stagnant across 2007 to 2010, it was time to open up the market to UK expats and non-UK nationals.
In 2007 Prosperity was founded, to attract a new wave of captive investor audience across the Middle East and ASEAN regions. The proposition was the same: an opportunity to own individual units within city-centre UK based apartment schemes at discounted prices. As income through property specialists, as they’d now become, Joe and his team offered the only monthly property payment plan on the market and were able to welcome a far wider reaching investor audience. One which bought-into the belief that a tangible, bricks and mortar asset should form part of every investors spread of investments. This remains his company ethos today.
Joe has maintained a strong, respected position throughout the turbulent markets of recent years earning him long-term respected relationships with national and international property developers, sales agents, private investors and financial services representatives alike – all keen to capitalise on his well-crafted and intellectual understanding of property market shifts, trends – and most importantly, investment opportunities. Joe’s passion for property as the No. 1 asset class has been widely documented. Presenting at lectures and seminars across the world, he has established an ever growing following of highly respected, successful investors, who continue to enjoy not only successful investment opportunities, but his knowledge and passion too.