What is Rent to Rent? And will it work for me! 😍 #R2Rshortandsweet #5
What is Rent to Rent and how does it work?
Find out more about rent to rent and if it could work for you!
Hello, hello, hello! I’m here with another video and blog from our short and sweet series – giving you lots of value and in little time.
So, today's question is one I’m asked on a regular basis…
“What is rent to rent, and will it work for me?”
Let’s dive straight into the first part of the question.
What is rent to rent?
Rent to rent is a simple strategy:
Rent a property for three to five years
Take on the management of the property
Pay the bills in the property
Sometimes you take on paying the minor maintenance
Sometimes you take on refurbishing the property to make it look more attractive
The landlords get guaranteed rent, freedom from tenant management and total peace of mind.
You collect the rent from your tenants, pay the landlord the guaranteed rent, pay the bills and then you keep the remainder.
You’re charging your tenants more and then giving the landlord their guaranteed rent.
The landlords like working this way as they can be hands off and it really is passive income for them.
For you, you have the ability to make more money because you're going to manage the property effectively and efficiently.
And it's not going to take all your time because you're going to have the systems in place to do it right.
We find that typically our properties have higher occupancy rates and the rents are higher than they have been previously – so it can be a really profitable business.
You can find more videos on our YouTube channel about all the benefits of a rent to rent business.
Is it right for me?
Some people may work full time, or might have a young family, and they wonder if they've enough time to start a rent to rent business.
I suggest you give yourself four hours a week - it can be at the weekend, it can be at lunchtime, you can split it up across the week.
And you'll find you’re going to get great results. And many of the people who start this way want to get the cashflow going and eventually be able to escape from their 9-5 jobs.
And ask yourself what you’re willing to do…
Am I willing to take action?
Am I willing to make a decision?
Am I willing to feel a bit uncomfortable?
When you first start calling agents or writing to landlords, it feels very unusual. But you'll see from the Rent 2 Rent Rockstar stories that they were also scared and nervous at the beginning and didn't think it was true, but then they did it.
They took the action and they got the results.
So yes, it’s for you if you think it's for you!
If you know you can put in a little bit of time every week to creating the success in your life and the cashflow in your life, then it's for you.
Certainly, for us, it's radically changed our lives beyond all recognition. We never ever thought we would have a business like this or be doing what we're doing today.
And the same is possible for you if you want it to be, if you can take the actions, and if you're going to commit to yourself.
We’d love to know what you think. Do you think rent to rent is for you? Leave us a comment or get in touch and let us know.
All the best,
Stephanie & Nicky
xx
If you want to get started in Rent 2 Rent and take your first step to financial freedom but you're not sure where to start, you're in the right place!
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Questions?
Please comment below and we’ll reply!
#YesYouCan