Hey, guys welcome back!
I'm always asked questions daily and number one is how do I get started in property investing with little or no experience and limited funds
So let me explain how
Most people just assume that property investing is just not for them because of a lack of personal knowledge and skills then never get started!
But we believe property investing is for everyone with the right mindset and knowledge
So let me shed some light on ways to get started
So how do I start benefiting from that monthly recurring income?
One of the best ways to get started is a method we call rent to rent
1. you don't need masses of experience
2. You don't need a massive deposit and with the correct education you can make some great monthly profits with relatively low risk as a pose to outright purchasing property
Yes there are some legal parts to it just like any other business
firstly you will need the correct contracts and paperwork you will also need to know how to assess a potential deal and you will need time to locate and view properties
Once you have these in place you are ready to go
One thing we do recommend for anyone looking to get started is that firstly you will need access to around 5k that's to get a rent to rent deal all set up we usually pay for new decor and furniture in the property for our new tenants
secondly, you will need a little bit of time as properties don't just come to you and fall into your lap you have to get yourself out there so if you are not motivated and driven to make a change then this is probably not for you!
But if you are committed to making a change and you want that additional monthly income while willing to put the time in and have access to around 5k then this could be the perfect way for you to start your new future in property investment
And let me tell you from experience what a great journey it is
So that's it you have decided you're committed and you want to start
First things first you're going to need to set up a company as it's your company that will manage your rent to rent deals
And you need a company to trade
So choose your name and get that company registered
The second step is you are going to need some professional email accounts to link to your company with a logo and letterheads so all correspondence that comes from you will look professional
The third step is to start locating property suitable for rent to rent local to where you live we always choose a 40-mile radius so we don't have to travel up and down the country when we have to visit not that it's very often
If you want an HMO rent to rent deal you want to target the larger properties with 5 beds plus
If its serviced accommodation you're looking for you are going to need to look for 1-2 bed apartments close to city centers
holiday lets can be 3 bed plus in tourist hotspots
Step 4
We then have to meet with the landlords and negotiate how long we will take on the property we recommend between 3 and 5 years this gives us plenty of time to get back our initial investment and for us to make a healthy profit
Step 5
Then it's the legal contracts we don't simply sign a shorthold tenancy agreement otherwise this would be deemed as subletting and this is definitely illegal we have to use our management agreement contract it works like a commercial lease similar to leasing a shop
As we are entering into a business relationship with the landlord
We then agree a rent-free period with the landlord to allow us to carry out the update to the property
Step 6
Is to update the property to appeal to our target market is either working professionals using the HMO method, holidaymakers using the holiday let route, or contractors Step 7
Once we have conducted the uplift to the property we then stage the property and take professional photos and advertise the property to rent
For HMOs, we use Spareroom and for holidays lets we use air BnB or booking.com
Step 8
Is to welcome the tenants to their new home or holidaymakers to their new home from home I have simplified all of these steps for the purpose of the video but I'm sure now you have a great understanding of the whole rent to rent method how it works and how you get started
Rent to rent is an amazing untapped property investing strategy and the profits you can make per month are simply amazing for each deal we choose to take on will make us a monthly profit of no less than £750 per calendar month and in peak season holiday lets can make up to 4k per month all from one small initial investment of 5k It's truly hard to find that kind of return anywhere but you have to be prepared to put in the time and the initial investment
I really hope this has opened some of your eyes to the possibilities that are out there and I hope you have all enjoyed this quick guide on how to get going l would also like to say thanks for watching have a great day!
So if you would like to find out more then drop me a message with your email address and we can send you a free rent to rent guide so you can have an in-depth look at how this amazing strategy works
or why not book a free strategy call with me https://www.jamesbennett.uk/strategy-call Also, keep an eye out for our new members-only site that will be up and running shortly