Do you need lots of money to get started in rent to rent?
Hello, hello, hello and welcome aboard episode 35 of the Rent to Rent Success Podcast.
Today we’re talking about money, money.
And do you need a lot of it to get started in rent to rent?
This is part of our series of episodes busting lots of rent to rent myths.
Before I start today, I want to invite you to the party.
There’s lots more Rent 2 Rent Success Secrets in our Facebook group.
It’s full of like minded people and a chance to get to know us better and meet some of our podcast guests.
Join our Rent 2 Rent Success Secrets Facebook page here
See you there!
On to today’s topic…
Don’t you need lots of money to get started in rent to rent?
Businesses often take tens of thousands of pounds to get started.
But as we talked about earlier, rent to rent is an efficient business model which allows you to get started for less than you might think and become profitable.
In episode 8 of the podcast I explain exactly how much it costs to set up your rent to rent business.
I walk you step by step through everything you need to set up your rent to rent business legally, ethically, inexpensively and quickly.
I’ve indicated the current price of each item and it actually costs under £600 to get your business set up.
It’s a much lower amount than most people would guess.
You can see the details at https://rent2rentsuccess.com/8
Then in addition to that you’ll need:
One month’s rent
Deposit (if required, which is usually equal to one month’s rent)
Refurbishment
Refurbishments can vary.
And you can choose what level you are willing to pay.
Most of Kickstarters are spending up to £3,000 and you’ll know many of the Rockstars we’ve interviewed on the podcast spend much much less than that.
As I explained in episode 2, rent to rent is an incredibly efficient business model.
Little money is required to start
You can become profitable within a few months (most businesses are not profitable in the first year)
You have consistent recurring cash flow (most start-ups do not have recurring revenue )
You have the names and addresses of your perfect customers (most businesses have to find their customers)
To summarise, rent to rent business is under £600 to set up and then you need rent, deposit and money for a refurb.
Let me know if you have any questions, I’d love to hear from you.
And our Rent 2 Rent Success book is out soon!
Our ethical 6-step system to get started in property without buying it.
We’re so excited to share it.
We’re already getting amazing feedback from our early readers.
If you want access to the pre-launch of the book, join our exclusive VIP list.
The pre-launch will only be open to our students and people who join the VIP list.
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Until next time, have a great rest of the week.
And remember,
Believe Bigger, Be Bolder and Be a Gamechanger!
See you soon!
Stephanie & Nicky
xx
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