Chris Bunn’s journey from redundancy to millionaire status is a testament to resilience and entrepreneurial spirit. Forced out of his banking job at Barclays in his early twenties, Bunn refused to be defined by job insecurity. Instead, he embarked on a series of side hustles, starting with buying and reselling popular brand-name trainers and clothing online. This initial venture, capitalizing on a burgeoning market for reselling goods, provided him with a £10,000 profit, the seed money for his next enterprise. In 2014, anticipating the rise of social media marketing, Bunn established a digital marketing company. This proved a shrewd move, as the demand for such services exploded with the growth of platforms like Facebook and Instagram. Just four years later, he sold the company to a Swedish tech firm for a substantial £350,000.
The sale came with a non-compete clause, preventing Bunn from immediately continuing in the same field. This restriction, however, became a catalyst for his next successful venture. Inspired by the BBC show “Homes Under the Hammer,” which he had been avidly watching, Bunn decided to try his hand at property investment. He identified a rundown three-bedroom semi-detached house in Fairfield, County Durham, and made a significantly below-asking-price offer of £108,000, which was accepted due to his cash buyer status and ability to complete the purchase quickly. Investing a further £28,000 in renovations, much of which he did himself, Bunn saw the property’s value rise to £185,000 within a year, solidifying his belief in the potential of property flipping.
This initial success spurred Bunn to further explore property investment, shifting his focus from flipping to building a rental portfolio. Concentrating his investments in and around Teesside and County Durham, he established a set of guiding principles for acquiring properties. He targets properties offered at a discount, often due to their condition or the seller’s circumstances, allowing him to add value through renovations. Favoring three-bedroom homes for their appeal to long-term tenants, Bunn minimizes tenant turnover and maximizes rental income. He has also transitioned from owning properties individually to holding them under a limited company structure, taking advantage of mortgage interest relief despite the increased complexities.
Bunn’s property portfolio has grown significantly, now comprising 15 rental properties with a total value of £2.8 million, including £1.7 million in equity. Despite recent legislative changes impacting landlords, such as increased stamp duty and the Renters’ Rights Bill, Bunn remains confident in his ability to adapt and thrive in the evolving market. He anticipates that landlords will adjust offers to account for increased costs, ultimately impacting sellers more than investors. With his sights set on continued growth, Bunn plans to aggressively expand his portfolio, aiming to add five more properties in 2025 and eventually reach a portfolio value of £5 million.
Bunn’s story is not unique in highlighting the potential of side hustles to generate significant income. Other individuals have found success in diverse areas, from reselling second-hand clothing online to building multi-million-pound businesses from humble beginnings. Grace Cassidy and her husband Joe, for instance, have turned their online reselling hobby into a full-time job, earning £20,000 a month. Similarly, Thomas Ryder built a £350 million health brand, Applied Nutrition, starting from his grandparents’ council house.
These examples demonstrate the increasing accessibility of entrepreneurial opportunities, particularly with the rise of online platforms and digital marketplaces. From renting out spare rooms or vehicles to offering services like pet sitting, dog walking, or tutoring, there are numerous avenues for individuals to supplement their income or even build a full-time career. The potential to earn extra income from home has also expanded through online platforms offering surveys, website reviews, and even paid video watching opportunities. The landscape of side hustles is diverse and constantly evolving, offering a wide range of options for those seeking financial independence and flexibility.
