What Stops People Getting Started in Rent to Rent #R2Rshortandsweet #10

Want to get started in rent to rent but something is stopping you?
We look at your fears and worries and how to overcome them!

What do you think stops people from getting started with rent to rent?

I asked this question in our Facebook group as I know many of you may have had the same concerns or worries about getting started.

We’re going to be looking at a selection of the answers we received.

Fear (False evidence appearing real)

I think this happens to us whenever we try to do anything new, suddenly boom, the barriers have gone up. And you’ll start to think, this is scary, can I do this? What if I can’t do this?

We have two parts to our brain:

Planning Brain

This part thinks yes, this would be an amazing idea, I would like to have an extra £500/£1,000/£1,500 per month. I would like to escape my job in the future and use the cash flow from rent to rent to invest in properties.

Toddler Brain

And then there is the other part who wants immediate pleasure and wants everything now. It’s very afraid of things and can't rationalise. It’s the part of your brain that comes in and says, oh no, I can't do this, what if this happens? What if that happens?

So, to really get started you have to accept that you're not going to feel totally comfortable at the beginning because when you first start anything new, it's always a little bit uncomfortable.

Can you remember when you had your first driving lessons and you didn’t know where anything was in the car? And now when you go to drive, it’s automatic in your brain and no bother at all.

Or even your first day at work, you didn’t know anyone or really know what to expect and it probably felt a little terrifying.

It’s the same feelings when you start in rent to rent. There'll be lots to learn and it will be exciting, but also a little scary too and you have to be able to accept that because you want to get to the other side where all the goodies are.

You can achieve success by taking the simple steps – you have to commit and say yes, I'm going to do it and not let fear put me off.

Lack of knowledge

People don't know what to say to agents or to landlords as they have never managed a property before. When we started in HMO’s three years ago, we hadn't managed one before. We had single let properties that were with agents - so it's a very different ball game and it was a steep learning curve for us.

But we got there and now we've set up all the learnings for you so that you only have to do 20% of actions that deliver 80% of the results.

The core actions of how to set up your business legally and ethically, how to get your deals with magnetic marketing, how to negotiate a win, win, win, and how to go on and tenant your properties and do it all in the best way for you.

So lack of knowledge is an issue, but the knowledge is out there and if you can go on a course where there's coaching built in and help as you implement, that’s going to really help you as well.

Fear of the unknown

We're all at a certain level and to progress we have to be willing to take the steps to go on to the next level, whatever that might be. So are you willing to go from your 9-5 job to running your own business?

There's lots of little steps that you need to take but it's going to be better than working 40 hours a week for 40 years, in the same office all day and all the difficulties that come with it.

Running your own business will feel amazing to have that time freedom in your life, to spend more time with your family, to be able to create that life that you really want and dream of.

Other people are stuck in a 9-5 job that they hate and for some it’s probably more like a 7-7 job.

The fear of the unknown does hold people back, but the unknown can be a better place and if you want to get there you need to start taking those steps.

Being responsible for rent, but can’t pay it

This is where you really need the knowledge and the information as I mentioned earlier – you need to have a system in place so you can assess the deal and ensure you're not paying too much rent and you have a buffer built into it.

The way that we do the deal analyzer and also within our Kickstarter coaching is we will look at all of your deals for you and let you know whether they're financially good deals or not.

You also need to put a system in place for filling your rooms and keeping them full - and again, that's something we will help you with.

High education costs

This is a really interesting one because with rent to rent you're setting up a business. And most businesses cost thousands of pounds to set up and typically wouldn't make money for a year.

Whereas with rent to rent, the setup costs are about £572 – if you have the information and knowledge as we mentioned above and all the systems in place to run your business, then you can be profitable with your first property – which is incredible!

We have a separate video on our YouTube channel if you wanted to see the breakdown of what that £572 is made up of.

What’s the difference between your free information and paid information?

Free Information

Our free information is amazing. If you've done any of our free courses or resources, you'll know that they are great quality.

We have so many people come back to us and give testimonials, one person said they started their business with our letters – so you can see the free resources are great.

Paid Information

The course you pay for is different because it's a step by step, by step, by step through the whole process from just merely having the idea of doing rent to rent, to setting up your business, to doing your marketing, to negotiating your deals, to tenanting your property, to making money and everything else in between.

All of the documents which we share we you are the ones we actually use in our own business.

You also get access to our Facebook group where we’re available Monday to Friday to answer your questions and you also have the chance to speak with other rent to renters.

You can send us all your deals so we can financially analyse them for you and give you feedback on your marketing letters.

We have live calls every week and if you want to stay on with the group and go deeper after the group has finished you can.

It's a really fantastic course and we feel it's worth every single penny!

So, the free option is there if you prefer, but if you want to go faster and have all the information there for you, then the paid course is the way to go.

If you have any questions about what I’ve discussed today or more about our online courses, then please get in touch and I’ll be happy to talk you through the process.

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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CLICK HERE for the 5 Secrets to Rent 2 Rent Success

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