What is a Rent to Rent Strategy

see As a business dedicated to providing clear and direct advice on a range of property investment strategies, ownership and management, The Property Mentor is here to answer any questions that you may have.

source site A phrase that has become very popular with entrepreneurial property professionals taking their first strides into the property market, and one that we’ve repeatedly been asked to clarify recently is rent-to-rent.

http://lincolnindustries.com.au/daf/5026 What is Rent-to-Rent?

Rent-to-rent is the process whereby a tenant elects to rent a single property from a landlord and then decides to convert it into a house of multiple occupancy (HMO), inviting more tenants to share the property by renting them a room.

The process is especially attractive to entrepreneurial professionals who wish to gain an income from a property that they’re currently renting from a landlord. This is 100% legal – providing that the landlord is aware of, and agrees to the intentions of their tenants.

Rent-to-rent can also be especially attractive to landlords with properties that they haven’t the time to actively manage, are happy taking a small income from tenancy, and agree to allow tenants to convert the property from single to a multi-occupancy.

watch How Rent-to-Rent Works

Once a tenant agrees to rent a property, they’re responsible for making sure that the single-let cost of renting the property is paid to the landlord each month.

The rental cost of the property includes a profit margin for the landlord – once the mortgage and monthly property running costs have been accounted for. This is the single let rate and represents a monthly return on a landlord’s investment.

A multi-let or rent-to-rent property gives tenants the opportunity to make a profit margin on their rental costs each month by charging rent to the tenants they have invited to share the property.

The Takeaway

In simple terms, rent-to-tent is the process whereby tenants agree to rent a property from a landlord whilst simultaneously earning a rental income by letting space within the property to one or more additional tenants.

 

How Do I Find Lease Options

One of the more common questions investors ask about their property investment options is how to find vendors to discuss the possibility of a purchase lease. The Property Mentor can provide expert knowledge to anyone wishing to find out more about purchase lease options.

signaux forex gratuit Targeted Approach

There is one fundamental difference between finding vendors willing to consider purchase lease options and vendors solely interested in a standard property exchange and that is how you target vendors. Investors who adopt a targeted approach will be able to match their investment goals with the ambitions of vendors.

When undertaking any form of property lead generation activity, it’s paramount to streamline your demographic and take a targeted approach. This gives investors the best possible opportunity to connect with property owners willing to consider purchase lease options.

telus stock options Purchase Lease Defined

The process whereby tenants agree to rent a property from the owner for an agreed period and then purchase the property once they have secured the necessary finance, is known as purchase lease.

We’ve previously covered everything that you need to know about purchase leases in our video ‘What is a Purchase Lease Option?’ To learn more, click the link here.

click here Simple Property Marketing

Given that purchase lease options cover long term property rental and eventual ownership, there are several property marketing exercises for investors to engage in.

Effective property marketing doesn’t have to be complicated. You could write a short professional letter or colourful postcard outlining your interest in renting long-term before buying a property in your local area and then distribute them to properties that pique your interest.

This approach is employed by estate agents across the UK to proactively find homeowners that are willing to sell their home. Most homeowners will have experienced receiving a letter like ‘Mr and Mrs. X have a budget of X amount and are looking to buy a property on your street. Please call (telephone number) if you’re interested.’ This is an example of proactive and simple property marketing.

The benefit to this approach is that you can appeal directly to homeowners who are interested in renting or selling their home. Each letter or postcard should be simple and friendly. Make sure that you include your contact details to make it as easy as possible for interested parties to contact you.

However, there are many other ways that you can target landlords or find tenants that are currently renting a property on a short-term contract who would prefer a long-term lease with the option to buy.

http://codorniu.se/dqu/4072 Further Actions to Consider

There’s still a wealth of homeowners that use private adverts to sell property. It’s always worth checking online and print property publications and resources. You may just find the perfect lease option.

You could also contact local or regional estate agents. They may have property listings that aren’t generating much interest amongst buyers. This gives you the opportunity to propose a long-term let as a solution.

Buying property in London? – Susan Alexander; Founder The Property Mentor (TPM)

Over the last decade property prices have gone up sufficiently enough in the Capital to squeeze out a significant number of potential property investors from being able to build or enhance their portfolio with property in London.

Added to that the increase in the number of overseas investors saturating the London property investment market, and it becomes even more of a challenge to make inroads.

Yes, there are still investors, who are able to get property in London, but it is continually becoming harder for most to invest, without appropriate knowledge, education, support and access to money.

How can you like other investors then, get your foot on the ladder, and tap into the potential benefit that property investment in London has to offer.

Well there are a number of Crowd Funding Platforms springing up, as I have already discussed/raised via the newsletter before, and you may already be aware of these yourself, however I am always keen to share with you, exciting new developments along the way, that may be of interest to you, and has the potential to help you on your property investment journey.

I want to share with you, news around an exciting opportunity from Crowd With Us (CWU),

Let me tell you a little about these guys…

Crowd with Us was formed to not only run a business that is ethical, but to open up the property market to all levels of investors and help those such investors benefit from the wealth created.

Rob Wilkinson, (CWU Director of Operations & HR) also Paul Higgs (who is on CWU Advisory Panel), have both been former clients of mine through my coaching and mentoring business; The Property Mentor, and I have also know Thor Portess (CWU Finance Director) for many years through the property investment environment, and networks. They have a wealth of experience between them, and are actively involved in creating opportunities in the property and businesses arenas.

I’d invite you to take action and learn more about Crowd with Us, consider registering to see and keep up to date with potential opportunities they may have, which might appeal to you or someone you know in your capacity as a property investor

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Rob Wilkinson

Rob Wilkinson

 

Successful Entrepreneurs don’t re-invent the wheel they replicate it with bells on! – Susan Alexander; Founder The Property Mentor

If you stop and think for a moment about some of the worlds most successful entrepreneurs (or successful individuals in general), they look to emulate other people or particular people. They look to someone who has or is perceived to have the experience, knowledge, expertise and success in the remit, area or skill set that they are looking to progress with.

There are ways to do this; either if possible seek out such a person as a coach and/or mentor, attend training, seminars, workshops, conferences or meetings at which such a person is speaking at, or buy products whether written, audio,or visual to keep reading or listening to their journey and nuggets of wisdom and insights they share.

Obviously you cannot morph yourself into the other person, because you won’t have had the same experiences, you won’t have absorbed the information in the exact way that they will have; because all of us have different lenses that we interpret things through which are unique to ourselves – there are some similarities and themes of course, and it’s about learning about these similarities and themes, replicating them and making them work for you with bells and whistles on.

Who can you look to emulate, and replicate their successes?

Susan Alexander Founder The Property Mentor

Susan Alexander Founder The Property Mentor

Define, Plan, Action, Focus – Repeat! – Susan Alexander The Property Mentor (Founder)

It isn’t ‘rocket science’ is it. If you want something in life it really does help to actually break down what it is that you want, to really visualise it, to be clear on the description, and have sufficient clarity of the mind, to define it.

Then when you are in that position, it is so important to plan the stages (steps/route) of how you are going to get that certain ‘something’. If you don’t plan, how will you know if you are on track, or doing the most appropriate things. Also if you make a plan, you can do each stage in manageable chunks…generally people who don’t do things in stages or manageable chunks get disappointed or despondent when they don’t reach that ‘something’ quickly, and then they give up, say it doesn’t work and go onto chasing the next shiny penny, or point the finger of blame at others instead of looking inwards and addressing what amendments they need to make to ensure the process works for them.

There are no short cuts to success, or ‘get rich quick schemes that work’, but you can ‘fast track’ your way to success or that something that you want…so let’s continue with the process, because once you have a model, system and process that works you can do this over and over again.

Once you have worked out your plan, then you need to take the necessary, and appropriate action…now here’s the thing, quite often people can feel like they are working hard on ‘doing stuff’ but if the ‘stuff’ isn’t relevant, or isn’t done at the appropriate time/key stage in the process, then progress might be painfully slow, or none existent. Keep assessing and reviewing whether the action you are taking is relevant to achieving your goal.

Keep focused on your plan and the actions you need to take, and you will get to where you need to be. So often individuals lose focus and start to deviate from the plan they have set themselves. There is nothing wrong with amending your plan to achieve your goal, but individuals generally go off on lots of different tangents, as opposed to taking the time to go through the process again: Define, Plan, Action, Focus – Repeat!

There cannot be enough emphasis on the importance of defining what it is that you want, planning and working out the steps you need to take to achieve this, taking the action, and focusing on this, in order to reach the target, or success that you want to achieve.

If you are struggling on your own with establishing a process that works for you, and need some help, support, guidance with this, then why not get the help from one of our coach and mentors through a http://a1carsearch.com/dir/3638 FREE 30 Min Coaching Call  

or if that isn’t for you, then we have specific resources that you might find helpful on this, why not take a look:

http://www.letselschade-claim.nl/daj/9516 How To Create Your Strategy & Plan

forex 1000 to 10000 How To Get Clear On Your Destination

Susan Alexander

Investing in ‘bricks and mortar’ – Susan Alexander, The Property Mentor (Founder)

Investing in ‘bricks and mortar’ will still continue to be a vital component in increasing and enhancing wealth for Property Investors for the foreseeable future despite governments increasing initiatives to make it harder…

Why?

Well there are many reasons…but one in particular is because ‘buying properties for most’ is still out of reach.

Even those properties deemed to have the ‘affordable homes’ labels attached to them, available to first time buyers only, are still over priced for the majority of people; in particular the people the governments wants them available for!

There are ways of course to get onto the property ladder, but of course the majority of people are unaware of the opportunities or options open to them.

Education is a way for them to become aware, however it can be daunting knowing where to start, and who to invest with to gain such education.

Cutting the wood from the trees can be difficult, but there are reputable, credible and professional programmes and products out there, the key is to spend time researching the marketplace and doing due diligence.

We (TPM), like other experienced professionals in the property environment have online programmes, group programmes*, one to one premium and platinum programmes, plus a range of books, dvds and workbooks through to the ultimate bootcamp, as well as TPM Meetings to share experience, expertise, bring people together and offer support. We also have the opportunity for individuals to have a FREE Coaching Call with on of our coaches and mentors…however…

As the saying goes…

‘You can lead a horse to water, but you cannot make it drink’!

If individuals want help…help, tools, resources, and support is available…

But individuals have to TAKE ACTION…

So if you or someone you know is struggling or needs help and support, to start their property investment journey, or to kick start it, then why not reach out and help them take those steps, or if you are not in a position to do so, then why not point them in our direction 🙂

We have Group Coaching Programmes starting imminently…if you want to be part of one of these successful groups, then why not get in touch and we can help you take action

Check out this article on Affordable Housing

 

Group Website pic

The Difference a Professional Mentor can make!

So many people think they can invest in property themselves and feel that they don’t need additional advice. Consider most of the worlds most successful people, they fast track to where they want to go by getting a coach or mentor because they understand that the time they save when learning from an expert far outweighs any cost incurred.

Real People – Real Results… Nikki & Patrick

“We started in property about a year ago. We were quite confused. We’d done courses. We’d bought course packs which had cost us a fortune, and we were really trying to go it on our own. We were going to courses and trying to learn different things along the way, but what we found was that we needed a little bit more guidance and that’s when we really started looking for a mentor. We had started a couple of businesses ourselves. We are quite practical. We are quite good at doing things ourselves. We thought we can do this, and we started wasting a lot of money that was the main thing.

When we started looking for a mentor, the money was really really tight for us, so we were like let’s do a joint venture with someone. We’ll do the work, they will show us how to do it and we’ll split the profit, and we found a couple of people but they just tried to take advantage of us more than anything and we ended up trying to be just like letting agents really. So we were quite wary when we were looking for a mentor. We were worried about being taken advantage of, or paying for something that we didn’t get enough out of it, and with Susan she has been absolutely fantastic”

Nikki – “I know when I was looking at lot’s of testimonials when I was looking for a mentor and one of the things I would always think to myself was, is this real? You know do they really help you this much? Do they really take you to the next level, and really get you earning that money through property, and Susan does. It is real and she does an amazing job and really kind of guides you along that journey”

Patrick – “I would say in one month with Susan, I learnt more than I had in the eight months before that’s for sure; and that’s going to courses, we’ve been to two courses, and bought quite expensive property packs, and for sure Susan helped us out more,. If I was to advise someone new into it I would say call Susan straight away, don’t worry about going to courses or trying to learn anything – Call her, she’ll get you in the right direction, and keep you in the right direction. That’s one of the problems that most people have; we’ve had. You get side tracked. You go over here you go over there, you want to make money doing this, money doing that, and she’ll keep you focused and point you in the right direction, and not only has she helped us with property, she has helped us with our own life as well; not that she really does that but she has helped us manage our life better to guide us on the right track so we can end up getting to where we want to be”

Nikki – “She’s very methodical in the way she teaches you. So it’s quite daunting when you do it yourself. She really breaks it down step by step, so you can really take one step at a time. She creates structure for you so you can follow it. There is still a lot of work you have got to put in but she lays out the path so you can get to it”

Patrick – “One of the reasons we chose Susan, we looked at quite a few mentors when we decided we were going to pay someone and there were people out there that we liked. Someone recommended Susan and one of the main things that was really good when we spoke to her was she wasn’t like this is the way you’re going to do it. She was like what’s your situation. We kind of knew what we wanted to do anyway because we’d done a fair bit but even then we were slightly off. She was like what’s your situation, where are you at; in life, money wise. What do you want to achieve and what’s your end goal. From there she evaluated what’s the best route to take, and that’s really important. Whereas other people were like I’ll show you how to do lease options, or I’ll show you how to do rent to rents or below market value, but that might not be best for you, you might not know what’s best for you”

Nikki – “Susan goes out of her way to help, she’s not in it for the money, she genuinely wants to help you, help you succeed, help you get to that next level”

Patrick – “It’s hard to believe, I would have really thought someone was doing it for the money, but after working with her she goes out of her way. She’s called us a few times after ten o’clock at night because we have a deal on the line, we were speaking to the vendor the next morning and she’s called us. I did not expect that. She’s genuinely, and as much as we are passionate people her passion comes into it as well. She’s into it as much as we are. She’s into the deals, wants to get it done, and wants it to succeed as much as you. So if you are looking for a property mentor, if you are beginning your journey in property, or further on wherever you’re up to, go with a mentor, and we really recommend Susan. I mean she is…don’t waste your money with courses, packs, with everything like that – pay a mentor – don’t think you can do it by yourself. We have started two businesses and this property is a whole new level and you’ll save a lot of time and a lot of money. We wasted a lot of money just on advertising we could have put that into Susan straight away and we wish we did – but we got there eventually…so go do it”

Image 6_1024                                                        Nikki & Patrick

 

Susan is the founder of ‘The Property Mentor’, and is a leading Coach, Property Mentor, Investor and Entrepreneur. Susan has personally trained, and provides ongoing training and support for all the Property Coach and Mentors that operate within The Property Mentor

When looking to get started or develop further it is important to ensure you select the right coach and mentor as well as the right programme to meet your needs, and achieve the results you desire.

If you are looking for greater focus, clarity, accountability, and guidance, but most of all to achieve the results, you desire, then a Property Coach and Mentor might be appropriate for you.

With a mentoring programme you can be clear on where you are headed from the start.

The Property Mentor coaches and mentors will help you put in place an action plan that will ensure you know what to do from day one.

Check out some of our Property Coach and Mentors Right Here

Stay on budget with your Renovation project

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Before buying a renovation project you will most likely have considered the cost of the renovation and worked out in some detail what needed to be done. Well, in an ideal world that is what you might do before you buy, however the reality is often different for many reasons. When it comes to offering on a property it can sometimes be difficult to obtain enough access to the property, or to create the time required for you to get detailed quotes, therefore in many cases progress with offers are made based on a best guess renovation calculation.

Regardless of the detail applied to your renovation calculations prior to buying, it is likely you will have established a budget you need to achieve in order to make the profit you want from each project. Therefore, it is essential to come in on, or under budget to maximise the returns.

If like many other investors both new and experienced that I have spoken to you find it challenging to stay on budget and often find you spend more than you thought, I’d recommend using the following four C’s. These are the steps we share in some detail with our clients to assist them in staying on budget for their renovation projects.

Categorise – split your project into sub sections to cost the work from the outset. This can be done in a few different ways, however the most effective tends to be by trade or by job required, for example you might list out the different trades you require and create a list of the likely works you will need each of them to do. By breaking your project down into smaller categories or sections you will be able to obtain more detailed level quotes without the different trades necessarily visiting the property at the outset.

Using this information you could build a project plan for your renovation with costings attached, allowing you to track more closely how your actual costs are doing against your budget when the project is live.

Contingency – Allow for the unexpected to happen, as it inevitably will. Working to a standard % (say 10%) of your budget as a contingency, is certainly a good place to start, however consider the level of work and the age of the property, as these can have a greater impact on the amount of contingency you may need. Working on older properties can uncover things you were not expecting, albeit this is not always the case it is important to have a reasonable amount to cover unexpected items.

Control – Keep a very close eye on your renovation project from start to finish. Do not leave the builders or other trades to just get on with it. Majority mean well, however if you are not ensuring the project is moving forward every single day and week, you can be sure it will slip in time and money. When you are undertaking large renovation projects there is clearly alot of work to be done and if you don’t have a close eye on the work and the cost, a few hundred pounds overspend in a number of areas and a few extra weeks of finance costs will not take long to completely wipe out a contingency budget, and that is before you find something unexpected!!

Choices – before you commence identify at least 3 potential items that can be removed or reduced in your project to save money and/or time without affecting the overall finish and potential resale value. There will be times during most renovation projects where you feel the costs are increasing and causing you concern. It may be possible for you to manage through this without too much worry, and see the project though without compromising on the works planned. In some cases however you may hit challenge after challenge with the costs and timelines starting to edge out of control. When this happens it can be difficult to see things clearly, and therefore having identified where you can save money and time prior to the start of the project when you were thinking straight, you know you can safely remove or reduced these which will help towards regaining some control without affecting the resale value of your finished property.

By using the 4 C’s on your renovation projects you will have a much stronger chance of staying on budget with your renovation projects, and ultimately protecting the profits you started out to achieve.

For more information on how we can help you on your property investment journey, or to book a free coaching call to discuss any areas you need help or take a look at some of TPM resources that might help you – visit www.thepropertymentor.com

Wanted – ‘Individuals interested in becoming a successful, property business owner’

Are you a person who is aware of the potential of property investing, have you built your own portfolio and recognise how property can change your life and the lives of others around you. Are you someone that wants to make a business out of property, but don’t want to go down the route of setting up a property management company? Do you get a buzz out of helping others succeed and want to explore how to do this as a business where you can get rightfully rewarded for your knowledge, experience and expertise.

If you think the way we think, then we at TPM have some great news for you…

Here at The Property Mentor we are revolutionary property entrepreneurs and top notch property mentors who are ready to show you through our coaching and mentoring franchise package how success in a property business can be made.

You can gain some insight on this from a smart, imaginative and innovative property entrepreneur who has built a significant property investment portfolio, several property businesses, and has accumulated unparalleled success from her years of leadership and executive management skills as the leading property coach and mentor.

We have set up The Property Mentor as a Property Coaching and Mentoring Franchise, where you can become part of our team and build your own business at the same time. You will receive full training from Susan Alexander, and The Property Mentor Team, as well as having access to our state of the art and masterfully crafted systems, model, property entrepreneurship programmes, resources and products…then you will be in a position to write your own success story.

Don’t you think that this is the time for you to go to an isolated corner, have a seat, get a cup of coffee, take a sip and ask yourself…

If you really think that property is the mantra which can change your life forever…then it is time to sink your teeth into it, and ask us for more information on this opportunity RIGHT HERE

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Achieving Your Goals

“Be in the driving seat, take the most direct route to achieving your goals’.

“One of the key elements needed for you to achieve your ultimate success, is for you to be in a position where you take control of your journey and that you are in the driving seat to enable you to assess what’s happening around you, so you can respond and react to situations on route, and are able to take the most direct route to give you the best possible chance for you to achieve your goals…

There are some fundemental KEY POINTS that you need to consider:

‘Think Big’
‘Having An Open Mind’
‘Identify the Gaps’
‘Valuing Your Time’
‘Leveraging Other Peoples Time’

I’m going to touch on the key point – ‘Identify the Gaps’ * here to get your mindset right, focusing on things that are relevant for you to achieve your goals and to reach your dreams in whatever remit that is in.

First you need to have a look at where you are now versus:

Where you want to be?
What are the gaps?
What on earth do you do to fill those gaps?

If you’re going to be successful, you need to make sure that you’ve got some specialist knowledge in the area that your goals fall into.

If you haven’t already got that, think about how are you going to get educated? and this is about filling those gaps. If your gap is that you haven’t got the knowledge that you need to get to the next step, what could you do about it? If that’s one of the things that is holding you back, what could you do to take the next step to move forward?

Is there something that you need to learn to move you forward?

Mindset is essential and one thing that you will come across if you haven’t already, is negativity.

I am sure that at some point in your life to date you will have come across some elements of negativity.

Negativity is rife out there. There are so many people out there prepared to be negative, and if unfortunately you’re in a position where you find yourself around lot’s of those types of people, there is a strong possibility that you might start to become negative also.

You will need to keep a belief in yourself, in order to be able to do this (achieving your goals in general or within property investment) when things get tough, because they will.

This isn’t easy, it’s not a get rich quick scheme this. It’s difficult.

You have to be able to keep that positive mindset. So, being able to be around a supportive network of like minded positive people is really important, if you don’t do this already, try to focus on building that support network around you.

Making sure that you’re reading the right educational books.

Have you got a reading list for this year? If you haven’t, could you get one? Could you set yourself a task to read a book every month?

I’m not great at taking the time out to read books. However I do recognise the value of this and know that it is a key component for my success, therefore instead of looking at reading books as an obstacle, I have looked for an alternative that does fit in with my lifestyle which is I listen to these books in audio format (audio books)…Listening to these audio books with regularity also really keeps my mind in the right place. Really positive and they help me to make sure that I’m moving forward with lot’s of confidence and lot’s of self belief and for yourself, that’s a great thing to keep up.

In relation to the support network, what’s the gap with your support…What else could you do to get that support? Where might you be able to find it?

Take a moment to jot down some ideas, or names of people you might like to include in your support network. Have a think.

What about accountability? Are you able to hold yourself to account, to keep you focused, and on track to achieving your goals. Do you need some additional accountability?…

Really, you need to have all these elements; education, accountability and support in place if you want to be a great investor. I would say those three key things are absolutely essential”

‘Identify the Gaps’ and other key points I discuss in my book:

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Alexander., S. (2014) ‘Setting YOUR Internal SAT NAV for Success’  – available via the website http://thepropertymentor.com/store/