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Found 16 results

  1. I've heard people say that rent to rent is a 'scam' and 'doesn't work'. I don't understand why people say this, does anyone agree? Or can you make a successful business out of it? Also, by the way how does you get rid of this quote thing below?
  2. Hello everyone,I am new here, but have been following Rob and Rob for some time and very grateful for all their work they do for community, hopefully I’ll manage to get my own BTL soon.I would like to form “Rent to Rent” limited company and I was wondering if someone could help with advice please.I have found two 3 bedroom houses I can rent and sublet on room by room basis. The living rooms have already been converted into 4th bedroom, so there will be 4 people in total in each house.To my understanding, I need to:1. Sign commercial lease agreement between my LTD and the house owner.2. Make sure mortgage provider is aware of this lease agreement and also that the house is being let as HMO.3. Make sure landlord has building and landlord liability insurance.4. Make sure landlord’s insurance won’t be invalidated due to contract I have between my LTD and the landlord.5. Make sure landlord’s insurer will cover multiple tenants on separate ASTs.6. Make sure house has gas and electrical safety certificates, and also ECP.7. Make sure house meets all other requirements (fire safety, minimum room size, etc)8. Get public liability insurance for my LTD9. Get professional indemnity insurance for my LTD (do I really need it?)10. No mandatory HMO licence needed (4 people in Lambeth area in London)11. No planning permission needed (no HMO Article 4 Direction for this area)Questions I'm looking answers for:12. Is £100 per month a good budget to take care of payroll and everything else to do with tax? Accountant recommendations please.13. Do I need a licence/permission for my LTD to operate as R2R?14. Do I need to register myself as an agent? If so, is it as a “letting agent”?15. Do I need any other licence for myself as director/employee of the company?16. I won't be collecting deposit from the tenants, but instead will require 2 months rent payment upfront. Is this acceptable or I need to handle this money in particular way?17. Where can I get good template for commercial lease please?18. Shall I use company formation agent? I would like to keep my home address private. Any recommendations?19. What else am I missing??Hopefully this post will be a good starting point for other people interested in R2R business.Many thanks in advance for all the input!PG
  3. I currently work in London as a Management Consultant, where I earn 60k a year. Over the last 4-5 months, I’ve developed an interest in Property from a desire to supplement my earnings with passive streams of income. By the end of the year, I will have £30k ish saved. I’m not interested in buying my own place, as I like/need the flexibility in renting - and so am going to start to build a Property portfolio with that money, probably start with a BRR in Liverpool, and continue to funnel money into other deals from my day job. However, I’m still very new to Property and am without any relevant practical experience. Even with my £30k, I’ve concluded that I’m going to need more cash flow to put into other deals and accelerate the process. £60k a year won’t get me where I want to be fast enough. So, I want to start a side Business in Property. I have been playing with the idea of the following three: Deal Sourcing - the strategy I’m most interested in, however, it seems like everyone and their Nan is a deal sourcer - which makes me question whether it is too saturated of a market. Has anyone had success Deal Sourcing within London? I’ve read that it tends to work better selling with deals further North to London investors. If so, would you not need to be close to the houses to source them? How hard is it to start from scratch as a Deal Sourcer? Especially now. If I learn my shit, will it matter to an investor that I don’t have my own portfolio? Or would you suggest I go for the JV route from the off? Rent-to-Rent Did anyone else start their Property Career with Rent-to-Rents? If so, I’d love to hear from you about your experience. Lease-Option-Agreements - these seem the most elusive of the three - but potentially the most lucrative. Did anyone else start off their Property Career with Lease-Option-Agreements? If so, I’d love to hear from you about your experience. At this point in my property journey, and with so little practical experience, I’m finding it hard to pick one. So any direction or insight would be much appreciated. What’s your favourite? If you started again, what would you do? Even if you don’t have answers to my questions, please feel free to message. It would be great to meet some to some like-minded people. Best regards, Josh
  4. Hi, I am quite new to property investment and would love some advice on how to get started. I'm 22 and haven't got much money so I wanted to start off with deal sourcing to build up some funds. Also I wanted to get into Rent -to-Rents and Lease Option Agreements, but am I unsure how to get a landlord to trust me with their property. What would you suggest and are there maybe any other ways that I haven't listed. I'm willing to research many different methods and start acting them out. Both generic and specific advice is very much appreciated. Thanks Michael A
  5. My fiancé and I own a property each and both earn about 38k, excluding the rental income. We want to keep our total income below the £45,000 mark so that the personal interest relief is still provided at the 20% level and to keep our tax level below 40%. We have a company to buy our future properties because we want to build a portfolio to provide a retirement income. The Question. Can we use the company to rent the properties from us for say £6,000 per annum and allow it to rent the property out for £14,000 pa. This would obviously have the desired effect of keeping our personal income and interest relief below the 40% trigger and keeping the profit in the company to increase our portfolio etc - comments please
  6. Hey, I'm looking to start Rent to Rent in the Bangor area, could anyone give me a recommendation of a Rent to Rent professional that I could maybe reach out to for some advice on the subject. I'm looking for a way to build some extra income while saving for my conventional buy to let mortgage. I'm also willing to of course contribute money for the mentoring or for the advice which is why I am posting on here so I can be sure what I'm paying for will really help and it wont be one of these good marketing guys with fancy words. Thanks in advance!
  7. Hi All I am wondering if anyone could recommend a property insurance broker. I am starting a rent to rent business so it would be great if anyone has experience of working with a broker that understands the model. No problem if not I am sure a general property insurance broker would work as well. Thanks in advance! Josh
  8. Hi Guys - I’m new to this and finding loads of great info but would like some advise on who to get stated on a rent 2 rent project. Looking to replace my current job as a Business Analyst in London and this seems the cheapest and fastest route. I think I have found a couple of properties that could clear me £1000 a month but not 100% I’m doing this correctly. Any advise or courses I could go on??? What about the legal side?!?! A little lost !! thanks Jamie
  9. Hi everyone, I'm from the UK but work overseas. I have a lot of free time to focus on the new property business. The problem is i'm not spending any time back home in the UK. I have money to invest for BTL properties and already have some properties in the UK but in my personal name. I want to build up good cash flow because my current UK income is small. Do you think its possible doing Lease Options back home while i'm not in the country? Do you think its possible doing Rent To Rent back home while i'm not in the country?
  10. Hi guys Would appreciate your comments / advice here please. I have an opportunity to lease a property from a neighbour while they move abroad for a couple of years, and would operate it on a rent to rent basis. My query is - who is responsible for what in terms of insurance? I obviously don't own the property (a lot of insurance companies ask for details on ownership etc.) so keen to get your thoughts on this. Many thanks GM
  11. Having committed to securing and running three rent to rents in 2018 I'm seeking some advice from the kind folks of The Property Hub. I am fortunate enough to know the property market in my area very well and am exposed to properties from time to time that would make suitable Rent to Rents (or as it should be called 'rent to let'). This year I am planning to take on three properties under 3 year licences to hopefully turn a profit doing rent to rent. I am looking for recommendations for a solicitor who has experience in drafting R2R contracts. In addition can anyone think of a cost that i have missed out on my spreadsheet. So far I've got Legal set up Tenant finding Buildings insurance Weekly communal area clean Every other week gardening - April to Sept Gas, Elec, Water, Broadband (no phone) Maintenance contingency fund Finally, as bills will be included I assume that the tenants will be thoughtless about how much they are consuming. Is there anyone operating a three bedroom two reception multi let who can give me an picture of the monthly utility bills. Oh. and ....... do you think £50 pcm for maintenance fund is enough?
  12. Hi, does anyone have any experience with 'rent to buy' or lease options? I would just like some advice/information on them please Thanks
  13. Dear members Hi My name is Mohammad Ali. Some of you might have heard me at the property investor show in London's Excel where I put my questions to Rob&Rob at their live podcast recording there. I found propertyhub.net in summer 2015 when I was searching the net for an answer to a property question I had at the time. That's when I landed in this forum and found very useful answers. So I registered straight away and then started receiving some emails which in turn introduced me to rob&rob's podcast and publications. I've since come a long way in educating myself in property investment. In fact, I'm just setting up my own business starting with Rent 2 Rent. I chose this strategy to build on my cashflow and generate money to put into other investment strategies. For the coming year though, I'll be focusing on R2R and hope to build a large portfolio by next year. I'm starting out as a sole trader, but intend to expand into a limited company within the year. I'm going to start with my own savings first. Once I have a few cases to replace my income with, I'll be seeking JV partners to expand the business. I plan to attend the meet ups at London Kings Cross, from next month. I'd be grateful to hear from anyone with suggestions for my business success. Kindest regards Mohammad Ali
  14. Hi all, I’m Drew, I’m introducing myself as a newbie here. I’ve been listening to all the podcasts, reading the magazines and looking forward to attending the meet ups. I’m living in SE London and am a landlady with a small portfolio of single lets in Cardiff. I’ve also just completed a 3 bed 2 bath refurb which I’m selling to buy my own home in S/SE London. I used to own and manage a portfolio of properties with my ex-husband and we had efficient systems in place with no void periods and increasing rents. We had lots of happy tenants - integrity, good quality homes and tenant satisfaction are all really important to me! The plan is to increase monthly cashflow with the R2R strategy which would then finance refurb projects in Cardiff or London (along with JV and bridging finance) next year. I’ve been running the figures in my spreadsheets (thanks Rob & Rob) and the stats look pretty good although obviously there is some initial investment required with furniture, redecorating the properties, HMO regs, insurance, licence etc. I’m looking to pair up with someone who wants to join me in the S/SE (maybe E) of London e.g. Tulse Hill, Brixton, Streatham, etc. as I think that 2 heads would be better than one and sometimes working on your own in property can be hard going! It would be nice to have someone to bounce ideas off and tackle sales, dealing with agents, viewings, financials/legals etc. I have another business that I dedicate about 10 hours a week to so my schedule is pretty flexible and I'm raring to go. If anyone is interested, please drop me a message! Thanks, Drew
  15. I had a call today from a chap as a result of my Rent To Rent ads. He is in a rubbish position and I would like to help him even if I don't take on his property. I have said I will have a think and get back to him shortly. The property is a 2 bed flat, which doesn't work for R2R purposes really, but bear with me. He bought the 2 bed flat for £82,000 in 2007 and took out an extra £20,000 on the mortgage to do works that didn't happen.... I estimate the property to currently be worth £75,000 and his remaining mortgage after 9 years is also around that figure. It has been rented out for £450 pcm and needs a bit of work doing (I haven't viewed it yet) as he has just had to evict a tenant. His mortgage payments are £515 so he is making a loss each month. He currently has a residential mortgage and hasn't told the lender he's renting the property out, which is not great. He says he earns too little currently to get another residential mortgage on this property (he has a joint mortgage on his current home with his wife). I plan on suggesting he look at obtaining a BTL mortgage with his wife (I have told him I absolutely cannot give financial or mortgage advice and he needs to speak to an IFA and/or mortgage advisor). He is sick and tired of this flat but in an ideal world would like to keep it to pass on to his daughter eventually. There is no equity in this flat right now and I dismissed taking the property on immediately when I heard the details, but am I missing a trick? Is there some sort of control to let deal in there? If he managed to get an interest only BTL mortgage and he was happy for me to pay that each month and take the difference between the rent and that as my profit, it might work. All a bit meagre though, but as a first property it might be a good learning experience? My instinct is to advise him to try to get a BTL mortgage and help him to find a good letting agent in Nuneaton as the one who has been managing the property has not done a very good job so far. Any advice would be much appreciated!
  16. Hello property family! I'm Sami and graduated from uni recently. I am starting off my property investor career and am stuck as i am having a hard time surrounding myself with people that are in property investment. I don't know where to start, how to get a team around me and the whole process of starting off. I need someone to guide me through my first property deal, whatever that may be. I am looking at Lease options as a strategy. I am based in Kent. If there is anyone here that can be my mentor and help me with this please let me know. I am so ready and have a lot of information but have no idea how to apply it. starting off is the hardest part so please don't think i'm being stupid. if i can find people to connect with this would have been worth it. Family and so called friends think im crazy going into property. i need likminded people to keep me sane. and help me start this journey. Thanks! Sami.
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