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  • Property-a-holics

    Multiple property income stream ideas?

    Hi All,

    I am a landlord for some 10+ years, I have a mid size portfolio, it supports me well, but I would like to expand to one or more directions.

    I started asking about Rent to Rent in an other thread,  but seems that was not favored much. I value your opinion, to be honest I ask it here, as the answers are not sugar coated! better to not start something, then waste money on dead deals/ideas.

    So, looking forward to 2019, what sort of property related business you would start? where do you see profit can be made?

    I am in SW London/Surrey border, bit far from the central or coast, so airBnB style holiday letting would not work. I have about £200k funds, what is not enough to do any renovation deal, or buy a house around here.

    I was thinking about the followings so far:

    1, below market value property sourcing

    2, Letting agency as Vanessa suggested

    3, HMO conversion / R2R, not much profit margin.

    Any other ideas worth considering in 2019? Would love to hear your opinion.

    Thanks much,

    Peter

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    Thanks Vanessa, plenty to read! Wink

    Thanks for the links.

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    You don’t have to be located by the coast or in London to do AirBnB. Have a look to see if there are not any properties on AirBnB in your area?

    i would like to do this kind, but u know it is more demanding than vanilla BTL.

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    I did airBnB in an overseas country, it was great, I would love to do it here if we were living by the coast, but its not the case sadly. Also, it was in a large house with 2 small flats in it, so was quite straightforward thing to do.

    I looked up, there are a few airBnBs around here, but the money they charge per night is very low, £30-£40, for that money I surely would not touch airBnBs. Also, I can not buy outright so its a specialized R2R strategy at the end with a few minefields.


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    I asked a similar question a while ago. It had some interesting comments.

    https://www.propertytribes.com/alternati...32360.html

    My greatest challenge hasn't been what to buy, but how to buy, which provides even more options.

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    As I mentioned to Pete on another thread ...

    How about starting a lettings agency to manage your own properties, as well as other landlords'?

    Have a look at the Keller Williams proposition.  You can join under their umbrella - receiving training, compliance, access to advertise on the portals etc - for £200.00 per month.  You can run this as a part time business alongside your own portfolio, managing your own properties, and building another property-related income generating business.

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    Has anyone on here started running a KW agency?

    My friend who's in the biz said it looked very American which he didn't think would go down too well over here? Who's to say if he's right/wrong but it would be good to hear from someone who's taken the challenge.

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    I met with KW to discuss the opportunity, still might take it further next year,  but busy with other projects right now.

    They seemed a good opportunity.

    I think whether it would work or not will depend on how good their training is on "Prospecting" I.e. finding clients with properties to list.

    I liked the fact they have no heavy up front fees and allegedly you can leave at any time.

    What I would probably do is join as it's only a couple of hundred pounds per month,  if the prospecting training is good,  I'd make money so would stay with them, if the training wasn't good,  I wouldn't stay with them.

    So if you can afford to risk a few hundred plus some of your time,  I think KW is worth a shot.

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