So proud to be sitting here today with my mentees Lisa and Tom (mum and son). We are going to be talking about how they secured their first rent to rent serviced accommodation. It will help you to overcome some of the objections when securing your first deal.
Their company is called Embracing Accommodation, and they are Nottingham based but their first deal was done in Brighton. They decided to focus on the rent to rent strategy because it would be the quickest way to get cash flow. They decided that later they’ll move onto other strategies such as HMO and flips.
They have been focused on property since April. Their deal was found by a sourcer, but it doesn’t matter where you find the deals as long as they stack up. They paid £2.5k for the deal from the sourcer and an extra £1k for the setup cost. Her net profit will be £800-1000, which is slightly less than average but it’s due to the property management company fees.