December 2nd, 2020

By: Keith Sims

19yro Millionaire in Real Estate - Akshay Ruparelia

19-year old entrepreneur sold his first house and is now a millionaire property tycoon

He's also the millionaire managing director of online estate agent Doorsteps.co.uk, the "Uber" of the property world which was recently valued at £12 million after doing business for just over a year.

He sold his first house — a five-bedroom detached house with a swimming pool.

Ruparelia told Business Insider: "The commission estate agents in Britain charge is just unfair." So he came up with an idea to provide good customer service at a fair price to people who are selling their homes.

Instead of the average 2-3% commission most property agents apply to a sale — which on an average London property equates to about £10,000, according to Ruparelia — Doorsteps charges just £99.

Ruparelia set the Doorsteps site live just over a year ago, and in a recent funding round it was valued at £12 million. He raised almost £400,000 ($530,000) with around 500 investors via Crowdcubein return for just over 3% of his business.

So far, the business has taken on 1,500 homes and sold £120 million worth of property, saving customers over £1 million in fees in just over a year, according to Ruparelia, who said he found the inspiration for Doorsteps after reading Ryanair CEO Michael O'Leary's autobiography.

"Michael had a fantastic aim and mission of 'delivering a product at an unbelievable price. Show people it works, and is real.'

"We've taken this and are trying to extend it beyond and become the best customer service agents too. We are already in the running for that, by industry leading reviews sites."

On Trustpilot, Doorsteps already has over 200 reviews and a rating of 9.5.

"I'm going to keep a laser-sharp focus so that we can really boost sales growth and continue to deliver our mission of the best customer service at a great price," he said. For now, he's focused on his business in the short-term. Doorsteps currently claims to be the 18th largest estate agent in Britain, and he said he aims to make this number one in the not-so distant-future. 

Akshay is a solo entrepreneur and teen millionaire running his own real estate agency. If your a young , teen , or solo entrepreneur we can help your business. Find out more gotoor

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