Using Property Filter to find two to three-bedroom properties ready to let, excluding those needing renovation or listed for auction, and with a suitable EPC rating (D and above) is straightforward. Here's a step-by-step guide to setting up a lead generator for this purpose:
Setting Up Your Lead Generator:
Open your Property Filter dashboard and navigate to 'Leads Generator'.
Click on 'Add New Lead Generator'.
Enter the initial postcode for your target area, such as 'L1' for Liverpool. Select this postcode from the search results.
Add additional neighbouring postcodes by either clicking on them on the map or typing them in.
Choosing a Strategy Template:
Select the 'Buy to Let Two or Three Beds' template, which already includes criteria like excluding auctions, ensuring high EPC ratings, and avoiding unmodernized properties.
Name your lead generator for easy identification (e.g., 'LVP B2L' for Liverpool Buy to Let).
Refining Your Search Criteria:
Edit your lead generator to refine your search. For instance, you can choose to focus only on houses and set a maximum price limit.
Exclude leasehold properties if you prefer only freeholds.
Utilize advanced filters with caution to avoid overly restricting your search. Consider excluding properties marketed as 'cash buyers only' or adjusting the EPC rating to 'C and above' for future-proofing your investment.
Reviewing Your Leads Inbox:
After saving your updated criteria, check the leads generated. You can refine further if the number of leads is still too high.
Review each lead's details, including price history, status, and any signs of seller motivation (e.g., price reductions, under-offer history).
Utilizing Upcoming Features:
Look forward to new features in Property Filter, such as tiles within property listings showing demand, average price, rent, and yield for an area, aiding in making more informed decisions.
Using Property Filter's deal calculator is a straightforward process that can significantly enhance your property investment decision-making. Whether you're analysing a long-term buy-to-let or an existing HMO deal, this tool simplifies the process by automatically calculating returns based on the key figures you enter. Here's a guide to using the deal calculator for both types of investments:
Setting Up a Buy-to-Let Deal Calculator:
Open your Property Filter account and navigate to a two-bedroom terrace property you're interested in.
Scroll down to the 'Add a Deal Calculator' option and select it.
Choose the 'Buy to Let' strategy and select a template from Property Filter (e.g., 'Buy to Let').
Name your calculator for easy reference (e.g., 'Exit 1').
Input key figures such as the purchase price, deposit, stamp duty, conveyancing fees, loan fees, refurbishment costs, and any sourcing or additional fees.
Adjust the rental income figure based on the property's area average, which Property Filter can provide.
Modify the interest rate and other costs as per current market rates and your specific deal.
Review the automatically calculated key metrics like annual cash flow, monthly cash flow, ROI, gross and net yield.
Setting Up an Existing HMO Deal Calculator:
For an existing HMO, repeat the process but select the 'Generic Existing HMO Ready to Let' template.
Input the asking price and relevant financial details.
Adjust the number of rental units and input individual rents, using resources like SpareRoom or OpenRent for reference.
Tweak the mortgage interest rate and other variables like letting agent fees and voids to reflect an HMO's unique aspects.
Examine the calculated metrics to assess the deal's viability.
Managing and Reviewing Calculations:
Once you confirm your inputs, the deal calculator will be saved under the property details.
You can edit, duplicate, or create multiple calculators for different scenarios.
Hover over the key metric terms to understand how they are calculated.
Utilizing Property Filter for Deal Analysis:
Property Filter's deal calculator is essential for knowing your numbers and returns, critical for any successful property investor.
Experiment with different templates or create your own to fit your investment strategy.
Additional Resources:
For more detailed information on the deal calculator, explore the overview video in the Property Filter's success base.
If you need further help, other tutorial videos are available, or you can book a one-to-one session with a Property Filter accredited coach.
Remember, the key to successful property investing is understanding and efficiently analyzing your deals. Property Filter's deal calculator offers a quick and accurate way to assess potential investments, allowing you to make informed decisions. Good luck with your investing journey!