‘I left school with no GCSEs and started my first company at 17 – these FIVE golden money rules gave me complete financial freedom’
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Story from Jam Press (Golden Money Rules)
‘I left school with no GCSEs and started my first company at 17 – these FIVE golden money rules gave me complete financial freedom’
With pictures
Byline: Paige Oldfield
A man who left school before finishing his GCSEs has revealed the five money rules that helped him build a multi-million-pound lending empire and gave him complete financial freedom.
Duncan Kreeger always knew he wasn’t cut out for the traditional 9 to 5 and would make a “terrible” employee.
This became apparent when he got his first taste of business as a teenager during a lad’s holiday with friends.
Duncan bought four sets of alloy wheels in Tenerife and tried to sell them for a profit on eBay once back in the UK – but the size and fitment was wrong, and they ended up sitting in his parents’ garage for four years.
Undeterred by his mistake, the 17-year-old dusted himself off and soon jumped on other opportunities – from flogging Mr Men calculators to organising hip hop parties.
Duncan kept trying his hand on entrepreneurial ventures until he eventually hit the jackpot when he launched a finance firm.
“I’ve always been entrepreneurial,” said Duncan, who is the founder TAB, which helps property investors and businesses with loans when banks can’t.
“All I wanted to do was to get out into the world and start earning.
“I didn’t go to uni, I didn’t go travelling – I just wanted to make money.
“Even as a kid, I was constantly trying to spot opportunities.
“That trip to Tenerife was a turning point; I bought the alloy wheels thinking ‘I can sell these for more’.
“It sounds daft and it didn’t go as planned – because I accidentally bought the wrong size and fitment – but it showed me how you can create something from nothing.
“From then on, I was hooked.
“I started throwing club nights, trying random ventures like a short-lived mail order company or just anything that taught me about how money actually works.”
The now 41-year-old’s passion for property first began when he spent a short stint at a London estate agency selling New York-style lofts.
It wasn’t long before he wanted to know how the money side worked.
He said: “I remember learning that you can buy a property for £500,000, spend another £500,000 on it and it’s worth £1.5 million at the end.
“But where do you get the money from?”
By his early 20s, Duncan had qualified as a mortgage broker but soon realised he wanted to lend money himself.
He went on to launch West One Loans in 2005 from a tiny desk in his father’s office, later building it into a business worth millions.
Duncan, who resides in Hertfordshire, said: “I was told I couldn’t start a lending company because I didn’t have any money – but I didn’t think that was a good enough answer.
“Then I met an investor who said they would fund my first loan if I gave them a share of the business.
“That’s how it started.”
Duncan sold the company in 2014 in a deal worth over £10m.
After a short break – and a two-year non-compete agreement that kept him out of the finance world – Duncan launched TAB in 2018.
He said: “I’d built that business from scratch – it was my baby – but I wanted to back myself again.
“I’m a positive person; When I open the curtains in the morning and it’s dark and rainy, I don’t think, ‘What a terrible day.’ I think, ‘Fresh air and opportunity – let’s go find it.’”
TAB is now one of the UK’s leading non-bank lenders, recently securing a £500m facility with the investment giant AllianceBernstein CarVal.
Duncan said: “When we closed that deal, it gave us deeper pockets and long-term security.
“It means we can keep doing what we do – helping people fund real projects.
“We lend money secured against homes.
“If you’re buying a property at auction or renovating a place the banks won’t touch, we step in.”
Duncan insists success hasn’t changed him.
Raised in a working-class family, he credits his parents for his strong work ethic.
His dad was a kosher butcher who later became a financial adviser, while his mum stayed at home to raise Duncan and his three sisters.
He added: “I don’t really sit back and think about how far I’ve come.
“I’m proud of the team we’ve built and the culture we’ve created.
“Everyone loves coming to work in our office – that’s what matters.
“People think that once you’ve made a few million you can put your feet up but for me, that’s when the real work starts.
“I’m not interested in slowing down – I want to take this business to billions.”
DUNCAN’S FIVE MONEY RULES
1. Play the long game
“I don’t believe in quick wins. There’s no such thing as getting rich overnight. I focus on steady growth and enjoying the journey.”
2. Build both income and capital
“Everyone with income wants capital and everyone with capital wants income. You need both to create real wealth.”
3. Surround yourself with good people
“I’ve learned that good people are more valuable than good ideas. The right team can turn any challenge into success.”
4. Don’t be afraid to start small
“I’ve never been scared to just register a company and give it a go. You learn more by doing than by overthinking.”
5. Keep your values intact
“I’ve never wanted to leave a trail of misery behind me. Doing the right thing in business has served me very well.”
ENDS
EDITOR’S NOTES:
Duncan’s business ventures over years
2003 – CHOCKY MOOSE LIMITED – Mail order business
2007 – WEST ONE PROPERTY – Investment agency
2007 – WEST ONE LOANS – Peer-to-peer lending company formed
2012 – BRYAN LLOYD – Principal property owners and developers / Family office and business investment
2014 – Sale of WEST ONE to ENRA
2014 – HIGHPOINT HOMES – Property investment company
2016 – Sale of ENRA to EXPONENT
2016 – DK INVESTMENT ONE – Private investment company
2017 – PBM PURCHASE – Block Management – Purchased majority stake 75%
2018 – TAB LENDING – FIRST TAB COMPANY – New bridging loan company created
2018 – WRECK HEADS RALLY – Formalised car rally company
2018 – DEFENDERCAST.LIVE – Starting a podcast
2019 – Fractional ownership and trading app developed with outside fund raise
2020 – National Housing Group – Social Housing
2022 – Loupe / The finance company – TAB-owned mortgage brokerage
Duncan has also invested in more businesses including:
- First Demolition Services
- National Housing Group
- Etta Loves – Children’s clothes
- Smart About Health (Dr Laura David)
- James Bryan Lloyd (Construction)
- FivePointFive (Breathwork App)