Welcome back to the Property Sourcing Podcast!

If you’re looking a straight-to-the-point introduction to packaging rent to rent and serviced accommodation, then you’re in the right place. Today, David interviews Nick Vint from Falcon Property Services who’s experienced in this aspect. Discover what factors to consider, what to look at when viewing properties, and how to approach investors and landlords, so you could start earning money fast. Rent 2 rent’s and SA’s are proven to be good for those starting in property. Start tuning in to know more.

KEY TAKEAWAYS

• Where to start when you want to source serviced accommodations for rent 2 rent? Nic says it’s relatively cheap, but the very first thing you should do is to do your due diligence.
• Know the difference between a house and a flat. This is something you should remember when viewing properties. With houses that have a mortgage, know if subletting will be allowed. With flats, it depends on the existing lease.
  • If the mortgage has restrictions you want to change, you can ask the mortgage provider if it can be edited.
• When subletting, always go first for the corporate lets. Nick tries to avoid online travel agents/booking sites since they charge big.
• Management contracts are legal documents that cover duties and responsibilities for landlords and investors.
• Think about the market you’re dealing with serviced accommodations. For example, contractors won’t be sharing beds, so it’s best to get set up one bed in a room.
• Nick asks these questions when he initially interviews the landlords:
  • Is your property still available?
  • If so, would you consider longer lets?
  • Would you also consider corporate lets agreements?
• Where can you find your investors? Social media and event networking
• Nick’s tips:
  • Know your investors. Do a check on their background and credibility.
  • Make sure that the furniture, utilities, appliances, etc. are all sorted.
  • Put everything in writing.

BEST MOMENTS

• “Make sure you know what you’re looking for because most landlords don’t.”
• “You need to understand what market you are targeting, whether they be contractors, corporates, etc.”
• “For investors, just make sure they are who they say they are.”

VALUABLE RESOURCES

• Falcon Property Services
• Gumtree

ABOUT THE GUEST

Nick Vint is a property specialist at Falcon Property Services, Ltd. He helps property investors with rent 2 rent and serviced accommodation units. He’s also an entrepreneur and a mentor. He’s passionate about helping other people start their own business and increase their wealth.

• Nick’s LinkedIn

ABOUT THE HOST

David is a property expert with over 25 years’ experience and his own portfolio of 26 units. His current rent roll is in excess of £10k per month. He is also a partner in a Deal Sourcing and Packaging business in the North West of England and has sourced over 250 properties for investors since 2004.

In recent years he has, by necessity, had to develop an expertise in LHA strategies. This area is increasingly becoming a niche for him, and he enjoys empowering other landlords by sharing the knowledge he has gained.

The ultimate purpose when sourcing properties in this sector for investors is to minimise risk while maximising profit. He has had to find answers to the challenges of Tenant Find, Management, ensuring rents are paid and the transition to Universal Credit. These are strategies he uses in his own business and also on behalf of investors. His investor clients regularly achieve annual gross yields of over 20% with high occupancy rates and voids resolved, sometimes within hours.

CONTACT METHOD

• David’s LinkedIn
• David’s Facebook