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does anyone have anything possitive to say about R2R?i have a few properties that i own and i've had HMO's in the past and i'm seriously looking at R2R with a view to SA in a huge grade2 listed building. the landlord is sick of doing the maintenance and is considering my proposition.why is is such a bad thing? i know it's not easy money.SA / HMO both a pain but surely there are ways it can work for everyone if they are realistic? i personally wouldn't go writing to HMO owners, and i haven't paid for any courses but there are property owners in the market that really don't want the hassle of managing their property.can you experienced people see any reality where this is a win-win or am i being delusional?
Just curious why a landlord wouldn't just go to an accredited and compliant managing agent and/or use a trusted Guaranteed Rent scheme such as the Northwood one?I am not a fan of Rent to Rent. So many people teaching a supposed "no money down" strategy says to me that teaching it is more lucrative than actually doing it.If it was so successful, then you would replicate it time and time again, not start a company teaching it. That's known as a "job" whereas R2R is meant to create passive income!I have seen people who have done and R2R course and maybe got one R2R set up already offering training to others. These people will soon find that tenant management issues, voids, repairs, etc. mean that R2R is not all its cracked up to be imho ... then they become trainers instead because they want a piece of the guru action!With regards to a Grade II building, I am sure you are aware, but the maintenance and repairs are likely to be more expensive and this should be put into your spreadsheet to see if it is financially viable.
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**
why is is such a bad thing?
It isn't. when done correctly, with transparency, legal, right contracts and compliance, etc - it's a fair business model that provides good stock to the PRS. I met a chap at John Howard's seminar last Saturday that has built a great business for himself with this strategy and is expanding his business rapidly. We ALL learnt a lot from his experience.
but there are property owners in the market that really don't want the hassle of managing their property.
One of my local estate agents offers this service to existing LL - they will give the LL a fixed rental income, guaranteed and then "sub-let" the property out as a HMO. They have been successful with this service in London for the past 2-3 years....
thanks for this reply. i think the key here is the adherance to legal requirement and dealing with transparency, which i agree is an absolute must for all concerned. its great to hear that you have met someone who is making this work, it's very encouraging! thanks again.