Speaking at PPN Wolverhampton
I spoke about rent-to-rent serviced accommodation at PPN Wolverhampton last night.
I have met a lot of people who have ruled out R2R strategies as they are too time intensive - but my question is, time intensive compared to WHAT?
Compared to a BTL? Sure, it’s more time intensive.
Compared to a job? Not even close.
I spoke about systems I have in place at the event and many people in the audience agreed by having everything in place to manage a single apartment would only take about 20 min a day.
Let’s assume you can make £1000 net per month per R2R unit - which many people have done.
The average salary in the UK is £28,000 - which is £2,166 per month. To achieve that you need to work 40+ hours a week and commute on top.
So, would you rather work 40 hours a week and commute every day to make £2166 per month or would you rather work 20 min a day from your bedroom and make £1000 per month?
A lot of people who want to get into property also disregard R2R as there’s no equity so want to do bigger things but if you’re working full time, how much time do you have to do viewings, make offers, go networking, meet investors every week for these bigger deals? Not a lot I would assume.
I’m not saying R2R is the prefect strategy or even that it’s right for everyone. I’m simply suggesting, people should use this opportunity to build up their cashflow, buy their time back and then use the time to do bigger things.
A lot of people have ‘knowledge’ of how to do these bigger deals but like Tony Robbins says ‘Knowledge is NOT power. Action is power’.
Buy your time back and then put that knowledge in action!