Property Sourcing ProfitsSingle Lets, Buy to Lets and BRR - a Conversation with Anne Houlton
David is with Anne Houlton who specialises Single Lets and has grown a portfolio that gives her the income she wants and the flexibility to run her business from anywhere in the world. David and Anne discuss the reasons why single lets are such a great addition to any property portfolio and how they can be a great deal for any deal packager.
The buy, refurbish and refinance model is about finding the value and this works in any market whether it’s on an upturn or downturn, it is the foundation for any property investment.
Listen in and find out how to successfully develop single lets using the buy, refurbish and refinance model in this enjoyable episode.
KEY TAKEAWAYS
- You don’t have to leave a huge amount in the property to have a good return on the capital employed.
- ‘It’s our house but your home’ we want our tenants to feel safe and secure.
- The money and passivity of single lets is very appealing.
- People always need single lets to live in, it’s the lightest touch with legislation and it’s the easiest route to security.
- Any property has to be a warm, safe comfortable home and needs;
-The correct energy performance grading certificate(EPC)
-An up to date EICR - Electrical Installation Condition Report.
-A yearly Gas Safety certificate.
- A legionella risk assessment.
- You can’t guarantee future capital growth but there is money to be made over the long term.
- If you buy decent houses in good areas you will make money from capital growth.
- Finding value works in any market. Buy refurbish and refinance is the basic tenant of all property.
BEST MOMENTS
‘It’s only when I got to Progressive that I learnt the buy-refurbish-refinance model’
‘We live off our rental income and I can run our property business from anywhere in the world’
‘Investors know this is coming the market is going to dip, but at the moment vendor expectations haven’t yet caught up’
VALUABLE RESOURCES
Property Sourcing Profits Podcast
https://www.progressiveproperty.co.uk/
https://unlimited-success.co.uk/
https://www.facebook.com/groups/progressivepropertycommunity/
ABOUT THE HOST
David is a property expert with over 25 years’ experience and his own portfolio of 26 units. His current rent roll is in excess of £10k per month. He is also a partner in a Deal Sourcing and Packaging business in the North West of England and has sourced over 250 properties for investors since 2004.
In recent years he has, by necessity, had to develop an expertise in LHA strategies. This area is increasingly becoming a niche for him, and he enjoys empowering other landlords by sharing the knowledge he has gained.
The ultimate purpose when sourcing properties in this sector for investors is to minimise risk while maximising profit. He has had to find answers to the challenges of Tenant Find, Management, ensuring rents are paid and the transition to Universal Credit. These are strategies he uses in his own business and also on behalf of investors. His investor clients regularly achieve annual gross yields of over 20% with high occupancy rates and voids resolved, sometimes within hours.
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