In the second part of his look at the rent-to-rent property strategy, Simon talks about how much you should be paying to a landlord, how best to convince them to engage with your proposed strategy, and which contracts you need to have in place!

 

KEY TAKEAWAYS

• Always ensure that the profit you’re making is enough to cover your costs, and still make it worth your while. The rule of thumb is to make at least £100 profit per room.
• A cash buffer is crucial. All landlords experience unexpected void periods from time to time, so ensure you have enough to see you through these times.
• When approaching a landlord, don’t enquire about the potential rent their property can make, but how much it is currently

Contracts are essential, and need to be drawn up by solicitors who know what they’re doing. These contracts will generally be either commercial leases or a management agreement.

 

BEST MOMENTS

‘In the right circumstances, rent-to-rent can be a very powerful cashflow generator’

‘You only ever buy a property in an area with strong rental demand’

‘Remember that this is a numbers game’

‘Rent-to-rent is a bit like the wild west at the moment'

 

VALUABLE RESOURCES

To access some free online training about Rent to Rent register for free at www.RentToRentCourse.co.uk

 

To access Simon’s online training course, go to www.HMOcourse.co.uk

• Property Magic: How to Buy Property Using Other People's Time, Money and Experience by Simon Zutshi

 

To find your local pin meeting visit: www.PinMeeting.co.uk and use voucher code PODCAST to attend you first meeting as Simon's guest (instead of paying the normal £20).

iphone:  http://bit.ly/pinAPP1

Android https://bit.ly/pinAPP2

Register at Mindset For Property at - www.mindsetforproperty.co.uk 

 

ABOUT THE HOST

Simon Zutshi, experienced investor, successful entrepreneur and best-selling author, is widely recognised as one of the top wealth creation strategists in the UK. Having started to invest in property in 1995 and went on to become financially independent by the age of 32.

Passionate about sharing his experience, Simon founded the property investor’s network (pin) in 2003www.pinmeeting.co.uk.    pin has since grown to become the largest property networking organisation in the UK, with monthly meetings in 50 cities, designed specifically to provide a supportive, educational and inspirational environment for people like you to network with and learn from other successful investors.

Since 2003, Simon has taught thousands of entrepreneurs and business owners how to successfully invest in a tax-efficient way.  How to create additional streams of income, give them more time to do the things they want to do and build their long-term wealth.

Simon’s book “Property Magic” which is now in its sixth edition, became an instant hit when first released in 2008 and remains an Amazon No 1 best-selling property book.

Simon launched his latest business, www.CrowdProperty.com, in 2014, which is an FCA Regulated peer to peer lending platform to facilitate loans between private individuals and property professionals.

 

CONTACT METHOD

Contact and follow Simon here:

Facebook: http://www.facebook.com/OfficialSimonZutshi 

LinkedIn: https://www.linkedin.com/in/simonzutshi/

YouTube: https://www.youtube.com/SimonZutshiOfficial

Twitter: https://twitter.com/simonzutshi

Instagram: https://www.instagram.com/simonzutshi/