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New year comes and I am looking to implement some new property strategies. I am a landlord for some time, but have no experience in R2R.
I am looking to get into some course to speed up the learning process, anything you might could recommend?
(Something focusing on knowledge rather than hype and high fives)
Further, anyone is operating in SW London, Surrey border?
Single slide powerpoint presentation: "Don't"?
Yep, R2R is shite.
For R2R you need to have an angle to add value otherwise you are just an unnecessary middleman.
Chartered Accountant, Tax Advisor and Mortgage broker
(and BTL portfolio owner)
The usual RTR 'angle' is to get say a large 5 bedroom house single let and then rent it out as an HMO.
Now that the minimum room size for 5+beds is in from October 1st it will become illegal to rent out these too small rooms.
I bet the R2R brigade aren't mentioning this?
RTR is 'grey' at best.
Hi Pete,I don't think it is any secret that I am not a fan of Rent to Rent. I believe the margins to be very slim, and that there is more money in running training courses than undertaking the actual strategy!Have you considered 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.Food for thought?
Vanessa Warwick Landlord and Co-Founder of PropertyTribes.com **If you have got value from Property Tribes, find out how you can support it in remaining a free to use community resource**
Thanks much Vanessa and others for the comments.
Well, I had a feeling those figures in the pitch I saw recently from an R2R promoter Neil McCoy Ward are not really accurate, like £1000 per property profit,
I will check out the letting agency route, so far I did not see much profit margin in that one either, I could be wrong though.
I will start a new thread to source some ideas I might have not looked at yet.
Pete, there's legitimate profit and 'grey' profit - profit that has areas that could be considered dubious in a court of law.
Have a look here at one of the biggest R2R/lease option 'guru's Rick Otton and decide for yourself:
I can always tell when some self proclaimed guru has run a weekend course on rent to rent. A few days later I am inundated with the same letter from several wannabee "investors" who will be pleased to take over my HMOs and do an even better job than I am doing myself and relieve me of the stress of managing a HMO portfolio. I actually quite enjoy managing my HMO portfolio, and why the F should I hand over 15 years of my work to some idiot who probably doesn't know their arse from their elbow when it comes to managing properties.
If they are so good at it, they won't find any shortage of JV investors who will be delighted to give them the money to find, refurb and fill several high quality HMOs.
The other thing is that they are always desperate for rooms for medical staff at the local hospital where they have a constant supply of applicants and good relationships with the HR department with whom they work very closely. All bullshit.