Why now is the wrong time to start in rent to rent? — Rent 2 Rent Success

Why Now is the Wrong Time to Start in Rent to Rent

🚫Why now is the wrong time to start in rent to rent 🚫
We’re on lockdown
In some areas there’s no tenant demand
Some tenants can’t pay
Surely it’s the wrong time to start!

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Why Now is the Wrong Time to Start in Rent to Rent #coronavirus6

Hello and welcome to the sixth edition in our series of coronavirus videos – talking all about rent to rent and coronavirus.

This video and blog are discussing why it's not the right time to get started in rent to rent.

I get lots of people asking me…

"Is now the right time to get started?"

Well, we're all on lockdown and people aren't moving. And those are all great reasons not to start in rent to rent right now.

If you don't have any experience and it’s totally new, then now is not the time to start. If you have a friend or someone who you can lean on or who you can work with, now could be a great time - but you need to be working with someone experienced and knows what they are doing.

For some people it is absolutely the right time to get started. There is more opportunity at the moment.

What’s happening now is that more landlords are looking for a solution, and fewer ‘competitors’ are putting their services forward to landlords giving anyone active now more chance of success.

Is it likely that you might find it easier to get an HMO property right now for a lower rent than you would normally?

Absolutely it is!

Is it possible that you could have that property then for five years? The first few months will be more challenging, but after that, you've got an amazing cash flowing property working for you.

Absolutely it is!

People who can move forwards at this time, can benefit from more opportunities and rewards.

The people who are likely to be reading this blog are the 5% of people who want more than just the 9-5 job, who want to put themselves out of their comfort zone and take the next step.

The people who succeed in any crisis are the people who can keep their heads.

As humans it's so easy for us to go into fear and meltdown mode and not be able to think straight and find ourselves emotional and spending all that time arguing on Facebook.

But if you can put yourself back into your visionary minds and ask yourself:

Where do I want to be in one year?
Where do I want to be in one month, one year, five years?
Can I take the steps now at home to move forward?

For those of you who have that mindset, who have that ambition, who want more than a 9-5 job, and who have more time at the moment.

Which isn't all of you, I know some of you are juggling with your young children or with working from home – so now isn't the right time for you.

But others of you will be off work, maybe even furloughed, you will have more time to learn, to get the foundations in place, to get your business set up.

Start making those contacts so that when we come through this on the other side, you put yourself into a better starting point of where you want to be.

It's hard to imagine right now because we're in the thick of it, but we're going to look back on this and it will all be over. We'll be able to look back on what we did in this moment and did we do everything that we wanted to do.

So is now the right time to start in rent to rent?

For each person, it's an individual question.

For many people the answer is no, it's not a good time to start rent to rent. For a few, the answer is yes, and we have been thrilled and excited by the number of people who have been joining us in Rent 2 Rent Kickstarter.

What we see is that the people who are joining us now are more committed, and have that super, super positive mindset for success.

Are you wanting to move forward with rent to rent right now?

That's it from me, see you soon.

Stephanie & Nicky

xx

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