Property Seminars and a Word on HMOs by Letting Focus
For our NEXT SEMINAR AND NETWORKING EVENT for Landlords and Property Investors click here:
Next Property Investing Seminar and Networking Event
Our latest seminar event took place on 4th November 2009. Sorry, if you just missed it!
These events take place only once every 6 months and at each event we have somewhere between 18 and 30 people - so it is all very small and informal and a world away from the big property shows.
At our events, unlike some "Landlord Meets" and "Property Meets", no one will try a hard sell on you but you will learn a lot from our very eloquent speakers and from other attendees in the hour before we start the talks, in the short breaks between the talks and afterwards.
To reserve a place at the next event, please email me David@LettingFocus.com
Speaking At the Property Shows
As usual, over the autumn, I have been speaking at the big property and landlord shows.
They are well worth going to but you sometimes do have to work hard to find the good people to listen to.
If you go, the Old Grand Daddies of property investment and fountains of knowledge Tom Entwistle and Richard Bowser should not be missed.
And it’s always worth listening to Paul Shamplina of Landlord Action too. I’m pleased to say that Paul came down to speak at our Seminar Event on the 4th November.
Paul’s business is mainly about recovering property for landlords from defaulting tenants for a fixed fee but recently he has also been recovering money from property firms too who supplied less than value "below market value" leads on property to wpuld be investors.
You an see Paul on BBC1 Iplayer on the "Inside Out" Programme. He is seen doing a recovery from a property sourcing firm who supplied leads for below market value properties for investors.
Duff Property Leads
Some of these property firms have been in the business of supplying leads for what were supposedly below market value property.
What happened was that would-be Landlord-Investors seeking the Holy Grail of “financial freedom fast” paid property firms up front cash for access to high quality “below market value” property deals –which turned out not to be er, well, not that much below market value at all.
Paul Shamplina’s Talks
Paul Shamplina is a real mine of information. He usually talks about how to recover property from non-paying tenants, how to avoid getting a problem tenant in the first place and also on the danger of using property finders and sourcing companies to get access to “great property deals”
(There are good sourcing companies - just make sure you use one.)
Tax and Landlords
Another speaker, Geoff Everett talked about tax and how it affects landlords.
And this is an area that has got very interesting recently.
In my view, taxation on landlords is relatively light.
Capital gains tax was reduced 2 years ago to 18% and there are lots of legitimate ways a landlord can ameliorate (and often completely reduce) the impact of tax with a bit of forward planning.
Now that there is real talk of the Government stopping higher rate tax relief on contributions to pension schemes, property as an investment will become relatively more attractive still.
HMO, Houses in Multi Let Properties
Finally, I would like to say something about HMOs
Many people think you can get a much greater return by letting rooms in big houses individually to tenants (i.e. room by room) rather than putting them all on one agreement.
Well, I have done it both ways over many years with a “mid market, nothing special” 6 roomed house in S London.
I can tell you that the excess on NET RENT of individually let rooms compared with doing it via a “single let” is about 18%.
But what about net PROFITS?
Well, the downside of letting room by room is that there is definitely more work as tenants change over quite a lot and you sometimes have to get involved when they don’t “get on” - which is a a real pain, very time consuming and a real “no win situation”
Disputes
You also have more wear and tear and more disputes over inventory with singly let rooms, sometimes an HMO licence fee to pay too (though on the plus side you do normally have less voids overall).
Based on my long experience and the type of property I have, there is not much in it profit wise, certainly after allowing for the cost of your own time.
Letting individual rooms in big multiple let properties is not a panacea to riches, nor a way to huge yields compared to other property investment opportunities.
But it would be good to hear what others experiences with singly let rooms in HMOs is in different types of market is – especially more up market places and properties in different locations.
Click on the Categories box at the bottom of this post for more posts by me on HMOs and Houses in Multiple Occupation.
ABOUT LETTINGFOCUS.COM and DAVID LAWRENSON
We are LettingFocus.com - the landlords’ expert and I’m David Lawrenson, the author of “Successful Property Letting” - the UK’s top selling property and buy to let book for the last 3 years.
I have been a landlord and property investor myself for over 25 years.
At LettingFocus we offer independent unbiased seminars for buy to let investors and landlords as well as one to one advice covering all aspects of being a landlord and investing in property.
Unlike many in the still largely unregulated buy to let and property “advice” business I am not linked to a property company, developer, estate agency or bridging loan provider.
As such I am able to give unbiased independent advice on where to buy (which areas), what type of property to buy, when to buy and how to buy property at a low price. I can also explain how to reduce the risk of getting a bad tenant.
OTHER PAGES:
ONE TO ONE CONSULTING click here: Property Consulting
CLIENT TESTIMONIALS from past customers click here: Testimonials
BUY THE BOOK click here: Buy the Book at Amazon
THE HOME PAGE OF THIS BLOG click here: Blog
THE HOME PAGE OF OUR MAIN SITE click here: LettingFocus Home Page
To JOIN our Free QUARTERLY NEWSLETTER simply send an email to david@LettingFocus.com - Please note we WILL NOT send spam or sell our mailing list to advertisers!
IF YOU HAVE A SITE WHY NOT LINK TO THIS BLOG OR OUR WEBSITE?
TO VIEW RELATED POSTS select a “Category” at the bottom of this page.
Dont miss the NLA Conference:
http://www.landlords.org.uk/conference/nlaconference.asp
WANT TO ADD A COMMENT OR VIEW OLD COMMENTS?
To add a comment to this post, simply click on “link to this post” to add your comment and to view comments of other people.
Next Property Investing Seminar and Networking Event
Our latest seminar event took place on 4th November 2009. Sorry, if you just missed it!
These events take place only once every 6 months and at each event we have somewhere between 18 and 30 people - so it is all very small and informal and a world away from the big property shows.
At our events, unlike some "Landlord Meets" and "Property Meets", no one will try a hard sell on you but you will learn a lot from our very eloquent speakers and from other attendees in the hour before we start the talks, in the short breaks between the talks and afterwards.
To reserve a place at the next event, please email me David@LettingFocus.com
Speaking At the Property Shows
As usual, over the autumn, I have been speaking at the big property and landlord shows.
They are well worth going to but you sometimes do have to work hard to find the good people to listen to.
If you go, the Old Grand Daddies of property investment and fountains of knowledge Tom Entwistle and Richard Bowser should not be missed.
And it’s always worth listening to Paul Shamplina of Landlord Action too. I’m pleased to say that Paul came down to speak at our Seminar Event on the 4th November.
Paul’s business is mainly about recovering property for landlords from defaulting tenants for a fixed fee but recently he has also been recovering money from property firms too who supplied less than value "below market value" leads on property to wpuld be investors.
You an see Paul on BBC1 Iplayer on the "Inside Out" Programme. He is seen doing a recovery from a property sourcing firm who supplied leads for below market value properties for investors.
Duff Property Leads
Some of these property firms have been in the business of supplying leads for what were supposedly below market value property.
What happened was that would-be Landlord-Investors seeking the Holy Grail of “financial freedom fast” paid property firms up front cash for access to high quality “below market value” property deals –which turned out not to be er, well, not that much below market value at all.
Paul Shamplina’s Talks
Paul Shamplina is a real mine of information. He usually talks about how to recover property from non-paying tenants, how to avoid getting a problem tenant in the first place and also on the danger of using property finders and sourcing companies to get access to “great property deals”
(There are good sourcing companies - just make sure you use one.)
Tax and Landlords
Another speaker, Geoff Everett talked about tax and how it affects landlords.
And this is an area that has got very interesting recently.
In my view, taxation on landlords is relatively light.
Capital gains tax was reduced 2 years ago to 18% and there are lots of legitimate ways a landlord can ameliorate (and often completely reduce) the impact of tax with a bit of forward planning.
Now that there is real talk of the Government stopping higher rate tax relief on contributions to pension schemes, property as an investment will become relatively more attractive still.
HMO, Houses in Multi Let Properties
Finally, I would like to say something about HMOs
Many people think you can get a much greater return by letting rooms in big houses individually to tenants (i.e. room by room) rather than putting them all on one agreement.
Well, I have done it both ways over many years with a “mid market, nothing special” 6 roomed house in S London.
I can tell you that the excess on NET RENT of individually let rooms compared with doing it via a “single let” is about 18%.
But what about net PROFITS?
Well, the downside of letting room by room is that there is definitely more work as tenants change over quite a lot and you sometimes have to get involved when they don’t “get on” - which is a a real pain, very time consuming and a real “no win situation”
Disputes
You also have more wear and tear and more disputes over inventory with singly let rooms, sometimes an HMO licence fee to pay too (though on the plus side you do normally have less voids overall).
Based on my long experience and the type of property I have, there is not much in it profit wise, certainly after allowing for the cost of your own time.
Letting individual rooms in big multiple let properties is not a panacea to riches, nor a way to huge yields compared to other property investment opportunities.
But it would be good to hear what others experiences with singly let rooms in HMOs is in different types of market is – especially more up market places and properties in different locations.
Click on the Categories box at the bottom of this post for more posts by me on HMOs and Houses in Multiple Occupation.
ABOUT LETTINGFOCUS.COM and DAVID LAWRENSON
We are LettingFocus.com - the landlords’ expert and I’m David Lawrenson, the author of “Successful Property Letting” - the UK’s top selling property and buy to let book for the last 3 years.
I have been a landlord and property investor myself for over 25 years.
At LettingFocus we offer independent unbiased seminars for buy to let investors and landlords as well as one to one advice covering all aspects of being a landlord and investing in property.
Unlike many in the still largely unregulated buy to let and property “advice” business I am not linked to a property company, developer, estate agency or bridging loan provider.
As such I am able to give unbiased independent advice on where to buy (which areas), what type of property to buy, when to buy and how to buy property at a low price. I can also explain how to reduce the risk of getting a bad tenant.
OTHER PAGES:
ONE TO ONE CONSULTING click here: Property Consulting
CLIENT TESTIMONIALS from past customers click here: Testimonials
BUY THE BOOK click here: Buy the Book at Amazon
THE HOME PAGE OF THIS BLOG click here: Blog
THE HOME PAGE OF OUR MAIN SITE click here: LettingFocus Home Page
To JOIN our Free QUARTERLY NEWSLETTER simply send an email to david@LettingFocus.com - Please note we WILL NOT send spam or sell our mailing list to advertisers!
IF YOU HAVE A SITE WHY NOT LINK TO THIS BLOG OR OUR WEBSITE?
TO VIEW RELATED POSTS select a “Category” at the bottom of this page.
Dont miss the NLA Conference:
http://www.landlords.org.uk/conference/nlaconference.asp
WANT TO ADD A COMMENT OR VIEW OLD COMMENTS?
To add a comment to this post, simply click on “link to this post” to add your comment and to view comments of other people.
Labels: HMO, HMOs, house in multiple occupation, houses in multiple occupation, multi let houses, property deals, Property Networking, property seminars, property sourcing
This entry was posted by lettingfocus, on
Tuesday, October 27, 2009.
You can leave your response.
leave a response