Using Property Filter to find direct-to-landlord rent-to-rent deals can be a strategic way to add properties to your portfolio without the need for property ownership. This approach is particularly useful for targeting properties where you can negotiate directly with landlords, bypassing agents and saving time. Here's a step-by-step guide on how to use Property Filter for this investment strategy:
Setting Up Your Lead Generator:
Open your Property Filter account and select 'Leads Generator' from the left-hand menu.
Click on 'Add New Leads Generator'.
Enter the postcode of the area where you want to invest, like 'L1' for Liverpool.
Expand your search area by adding neighbouring postcodes. You can use the 'Nearest District PC' button to include additional postcodes.
Selecting the Right Strategy Template:
Choose the 'Rent to Rent' template, focusing on direct-to-landlord properties using platforms like OpenRent.
Name your lead generator for easy reference (e.g., 'LDN Rent to Rent').
Refining Your Search Criteria:
Edit your lead generator to refine your criteria. For a rent-to-rent HMO strategy, you might want to focus on houses and set a minimum number of bedrooms, like four.
Set a minimum price to filter out individual room listings and focus on entire properties.
Exclude new builds, retirement homes, care homes, and listed buildings to target properties that are more likely to fit the rent-to-rent model.
Reviewing Your Leads Inbox:
After setting your criteria, check the leads generated. Look for properties with reduced prices or back on the market, as these are signs of motivated landlords.
Evaluate each lead's details, such as rental price history, availability date, and property features, to assess its potential for rent-to-rent agreements.
Contacting Landlords Directly:
Click on the OpenRent icon in the property details to access the listing on OpenRent’s website.
Use OpenRent to directly message landlords, offering them guaranteed rent and explaining your rent-to-rent proposition.
Utilizing Property Filter Resources:
If you need more help, explore tutorial videos in the Property Filter success base.
For personalized support, consider booking a session with a Property Filter accredited coach.
By following these steps, you can efficiently use Property Filter to identify potential rent-to-rent opportunities, allowing you to negotiate directly with landlords and secure deals that fit your investment strategy. Good luck with your property search!
Using Property Filter's deal calculator for rent-to-service accommodation (SA) or short-term let deals is an efficient way to assess the viability of potential property investments. This tool allows you to input key figures and calculates the returns automatically, helping you make informed decisions quickly. Here’s a step-by-step guide on how to use the deal calculator for a rent-to-SA deal:
Accessing the Deal Calculator:
Log into your Property Filter account and navigate to a two-bedroom flat or any property you're considering for SA.
Scroll down to find the 'Add a Deal Calculator' button and click on it.
Select the 'Rent to SA' strategy from the list.
Choosing a Template and Naming the Calculator:
Opt for either a blank template or a generic template with pre-entered numbers.
Name your calculator for easy reference (e.g., 'Exit 4') and confirm.
Entering Contract and Setup Costs:
Input the monthly payment to the owner (e.g., £950) and the contract duration (e.g., 5 years).
Add refurbishment costs, furniture expenses, and any void period costs.
Include other costs such as legal fees for setting up agreements and sourcing fees if applicable.
Projecting Income and Operational Costs:
Estimate the average nightly rate (e.g., £100) and occupancy rate (e.g., 70%).
Input costs per stay, such as cleaning, laundry, and sundries.
Add monthly operational costs including utilities, maintenance, insurance, and others. Property Filter will automatically calculate fees based on percentages and monthly income.
Reviewing Calculated Metrics:
The calculator will automatically display key metrics like annual and monthly cash flow, ROI, and total return over the contract period.
You can hover over these metrics to understand how they're calculated.
Saving and Editing Your Calculations:
Once you’re satisfied with the inputs, click 'Confirm' to save the calculator under the property listing.
You can edit the calculator or duplicate it to test different scenarios.
Utilizing Property Filter Resources:
For additional guidance, check out tutorial videos in the Property Filter success base.
If you need personalized support, book a one-to-one session with a Property Filter accredited coach.
By using Property Filter's deal calculator for rent-to-SA deals, you can effectively analyse the financial aspects of short-term lets or service accommodation opportunities, ensuring that your investments are based on solid financial projections. Good luck with your investing endeavours!