Who says that landlord letters don’t work?
Last year, as I was doing my Mastermind classes, I had started doing these letters with the help of VAs; they helped research for, design, and send out the landlord letters as I juggled working full-time at my former job, and my journey in property investment.
One of these letters was sent out to a landlord who couldn’t really manage the property well. It had a rent-to-rent type of deal. The current rent-to-rent agent, whom the landlord was working with, was looking to exit from this project. The landlord then sent my letter to this agent and afterwards contacted me and asked if I wanted this deal.
I went along with it and even came down to see the property. It was run-down and obviously needed a lot of work. I went back to the agency and gave my feedback that it needed a lot of work, and they agreed. After coming to an agreement, they had done some initial labour on the property and the deal was transferred to me.
I had invested a little bit more money into this property, around £800 worth, just to organise and tidy up the place a little. I had worked on the garden, as it was an absolute mess, and also did some re-organising in the sitting room. Currently, this property is earning me around £445 a month, even with the high utility bills.
This deal was actually one that needed me to work differently as opposed to my first one – this property wasn’t nicely managed by the previous landlord. I worked alongside my tenants to fix some things up. This contributed greatly to my growth as a property investor, especially in learning what not to do with rent-to-rent, and how to deal with tenants.
Slowly, I am managing this well. This is a property that can and will be improved as time passes. I knew that with this deal, I had to work very differently and that it was a really big challenge. A challenge that I took on happily, as I knew I would be learning greatly from it.
I am sharing this with you so that you would know that different deals are often very contrasting and there’s always something to learn or something different that needs to be done. So far, this deal isn’t as cracking as my first one, but I have not suffered any losses on this deal, and I’ve learned valuable lessons..
I am not letting this deal go as there is still lots to be done and I love a good challenge. Plus, I love working with different types of people.
If you would like to get started on your own property journey, or get great returns on your well-earned money, I would love to be of help.
Drop me a line: info@ukpropertytastic.co.uk
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