Today I have some tips for you on strategy and focus. I don’t want to make this all about the mindset, but the first important thing about finding that deal is getting out there and going to as many viewings as possible. So you can use all the strategies I’m going to give you today, but you will never get that first deal if you don’t take action and schedule a lot of viewings.
Another issue that I see is that there are a lot of owners who don’t want to do Rent to Rent and then someone gets stuck on a property and has to try and get past all the landlords objections which only wastes time and energy. You need to move on in order not to miss the other opportunities out there.
So how do you find these properties to set up viewings? There are a couple of great strategies. If you are looking into HMO’s the number one strategy is to get the list of licensed HMO’s from your local council and send them letters. This has worked for me and many of my students. If you need some more help on how to do this, grab one of my bestselling books on Amazon here.
Going to agents is another way of getting your first Rent to Rent deal. It does take a little bit longer to build up a relationship with an agent because they need to get to know you and you have to build up credibility. They don’t want to recommend you to a landlord if they’re not sure that you are reliable. But once that trusting relationship has been established, they basically act as a sourcer for you.
All you need to do is go on Rightmove and look for promising properties in your area. Once again, don’t spend too much time trying to find the PERFECT property. Don’t overthink it; if it has potential and falls within your budget, just call and schedule the viewing. You don’t have to share your ideas or plans with them. If they ask, simply say you’re searching for a company let on behalf of your company (this is just to book the viewing on their system). Once you get to the viewing you can go into more detail of what it is that you want to do. But be discerning; are you with an actual decision maker or a junior letting agent? When I find myself in the company of a junior, I simply say I’m really interested in this property, but we work slightly different, so could we please set up a meeting between ourselves and your manager and talk through how we can work on this and future properties.
If you would like to find out about even more ways to get your first Rent to Rent deal, watch our short video here.
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