Rent to Rent

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Re: Rent to Rent

Postby Nick » Wed Dec 19, 2012 8:55 pm

I am as of this moment attending the Rent to Rent Webinar at https://attendee.gotowebinar.com/regist ... 6398394112
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Re: Rent to Rent

Postby Nick » Wed Dec 19, 2012 9:51 pm

Francis's course is £397 to attendees of the webinar for 48 hours http://www.pweurl.com/mlcs-bookings - the full price is £497
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Re: Rent to Rent

Postby Rich G » Wed Dec 19, 2012 9:53 pm

What did you think of the webinar?
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Re: Rent to Rent

Postby Jo King » Wed Dec 19, 2012 9:58 pm

Nick wrote:Francis's course is £397 to attendees of the webinar for 48 hours http://www.pweurl.com/mlcs-bookings - the full price is £497


Blimey you were quick to promote his course :lol:
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Re: Rent to Rent

Postby Nick » Wed Dec 19, 2012 10:15 pm

Jo King wrote:
Nick wrote:Francis's course is £397 to attendees of the webinar for 48 hours http://www.pweurl.com/mlcs-bookings - the full price is £497


Blimey you were quick to promote his course :lol:


Well it's only fair seeing as that was why he laid on the webinar!

Rich G wrote:What did you think of the webinar?


I was pleasantly surprised - it was free (which I don't think that he made abundantly clear in the promotion) and technically easy to be involved in. The course wasn't particularly oversold, I would say that the webinar was 65 mins & the course mentioned for less than 5 mins of that. I didn't learn anything that I didn't know - but then as I have been renting HMO for 20+ years I would be horrified to discover secrets I have been oblivious to all my life! :o :lol:

On the plus side - he is describing a business model that he is currently operating with success, that much is obvious, it isn't pie in the sky or yesterday's trick's which now don't work. It's ethical, and works.

On the minus side - it's not rocket science. I don't actually know the content of the 1 day course, but I can imagine that for some people it's £500 well spent to launch a new career, and for others it's a day learning stuff that they could have picked up for free elsewhere over time and with research.

So to conclude - I'm not going :lol: however I can imagine that some attendees come away saying that it was money well spent.
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Re: Rent to Rent

Postby Rich G » Wed Dec 19, 2012 10:18 pm

I told you he was a good guy.
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Re: Rent to Rent

Postby Nick » Wed Dec 19, 2012 10:23 pm

I don't think anyone ever disagreed?
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Re: Rent to Rent

Postby Rich G » Wed Dec 19, 2012 10:43 pm

Nick wrote:I don't think anyone ever disagreed?


I don't think I said they did :)
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Re: Rent to Rent

Postby Nick » Thu Dec 20, 2012 10:34 am

If you would like to receive a recording of the webinar, make sure you like our Facebook page as we will be sending out a free recording for a limited amount of time to our fans:

http://facebook.com/multiletcashflowsystem

Please send your questions, comments and feedback to: francis@multiletcashflowsystem.com.
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Re: Rent to Rent

Postby Ken E » Thu Dec 20, 2012 1:50 pm

Nick wrote:I was pleasantly surprised - it was free (which I don't think that he made abundantly clear in the promotion) and technically easy to be involved in. The course wasn't particularly oversold, I would say that the webinar was 65 mins & the course mentioned for less than 5 mins of that. I didn't learn anything that I didn't know - but then as I have been renting HMO for 20+ years I would be horrified to discover secrets I have been oblivious to all my life! :o :lol:

On the plus side - he is describing a business model that he is currently operating with success, that much is obvious, it isn't pie in the sky or yesterday's trick's which now don't work. It's ethical, and works.

On the minus side - it's not rocket science. I don't actually know the content of the 1 day course, but I can imagine that for some people it's £500 well spent to launch a new career, and for others it's a day learning stuff that they could have picked up for free elsewhere over time and with research.



Great to hear some positive feed back on what often seems to be a much maligned and controversial strategy.

Nick, are you saying the model he is teaching is both ethical and legal?
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Re: Rent to Rent

Postby Nick » Thu Dec 20, 2012 2:46 pm

Ken E wrote:Nick, are you saying the model he is teaching is both ethical and legal?


Well I can't go that far :lol: The questions were fairly simple and I don't remember any awkward ones about Insurance and Notifying Lenders, but there was no hint of the sort of illegal eviction stories that are in the R2R book. The Webinar was intended to entice people onto the £500 course where they give you all the contracts and support that you need (I think it's only the first 12 bookings who get post course support), but the general flavour that I got (including an element of joining the dots from myself) is that they get suitable properties (3 - 5 bed, victorian terraces with no garden, no parking, on a bus route). Do them up cheaply, but attractively, sort a local agent to manage them on a weekly basis, and rent them to young professionals.

I know how much work HMOs can be - one of my cleaners once threw away her clothes after sorting out the shared toilet in one of my properties! I liked the fact that Francis acknowledges that HMOs are hard work, and he isn't presenting the strategy as GRQ with no work, just saying that with organisation and method you can earn a substantial return on limited capital. I think what helps his strategy is that he is marketing to an easy market - young professionals. There is nothing wrong in that - in fact that's intelligent marketing - target the high margin product.

But the nut that society needs to crack is how to provide affordable housing to the LHA market.
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Re: Rent to Rent

Postby Rich G » Thu Dec 20, 2012 3:27 pm

Sounds sensible.

Nick I like how you are willing to change your mind about things in the light of new information.

Meanwhile this amused me:

sort a local agent to manage them on a weekly basis


Which seems like an odd thing for a *Letting Agent* to do :lol:
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Re: Rent to Rent

Postby Nick » Thu Dec 20, 2012 3:47 pm

Not sure what the new information is, or how I have changed my mind.

Just to clarify - Francis doesn't recommend employing a "letting agent" although he does recommend working WITH letting agents to identify properties. I think you need to go on the course to get the full details of what he recommends - however as far as the management of the property is concerned he is saying that it needs weekly inspection and management - that's what he means by an agent. From my own experience this can actually be a pro-active tenant - I have a funny story about that suitable for the next SWIF meeting.
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Re: Rent to Rent

Postby Rich G » Thu Dec 20, 2012 4:41 pm

Not sure what the new information is, or how I have changed my mind.


I'll tell you in private. 8-)
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Re: Rent to Rent

Postby Nick » Fri Dec 21, 2012 8:48 am

A link to the un-edited version of the webinar

http://clicks.aweber.com/y/ct/?l=Jx41x& ... vJ_4Gx0Xbw

gotowebinar will ask you to register again, but you will then get immediate access to stream the recording.

PC users may need to download a gotowebinar codec to should they have any issues viewing the recording. You can get the codec via the link on the webinar page or by downloading it via the link below:

http://clicks.aweber.com/y/ct/?l=Jx41x& ... latD5fDXPw
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Re: Rent to Rent

Postby Nick » Sun Dec 30, 2012 9:23 am

This company claim to have been doing R2R for 7 years with thousands under management

London Housing Solutions Limited was registered on 30 Nov 2004 with its registered office in Essex. The business has a status of active. They were founded by Adam Conti, and Andrew Jeffrey. There are 2 shareholders of London Housing Solutions Limited. They have no known group companies. The company has assets totalling £373,192 plus total liabilities totalling £65,278. They owe £65,278 to creditors and are due £140,768 from trade debtors. As of their last financial statement, they had £124,779 in cash reserves. Their book value is £307,914, and the value of their shareholders' fund is £307,914.
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Re: Rent to Rent

Postby Nick » Tue Apr 23, 2013 9:52 am

A coroner recorded a verdict of accidental death in the case of chef Graham Kemp, 27.

After the fire, council inspectors found seven tenants were crammed into a two-storey house that had poor fire alarms and no fire safety doors. Three tenants were sharing one room.

One tenant told the council he paid £550 a month to share a room in the house.

Landlord Darius Valiulis, 45, told the council it was not his property and failed to provide any tenancy agreements.

Cambridge magistrates found him guilty of failing to provide the information, fire safety breaches, renting an overcrowded home and not testing electrical equipment.

Valiulis was fined £2,000 on each charge and ordered to pay costs of £6,100.


From Property118

Now in the same article:

The landlord, Lookman Adeyemi admitted three charges of flouting fire safety, while a not guilty plea to not fitting emergency lighting was accepted by Justice Lord Parmoor at Amersham Crown Court.

Adeyemi was released on unconditional bail until sentencing on March 29.


When someone is killed in an unlicensed R2R who goes to prison? The owner or the R2R Landlord?
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Re: Rent to Rent

Postby Jo King » Tue Apr 23, 2013 11:00 am

The £2000 fine per charge plus costs is hardly a deterrent when you're charging £550 per person per month for 7 people in a house that probably costs no more than £1000 per month to run :evil:
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Re: Rent to Rent

Postby Nick » Tue Apr 23, 2013 11:32 am

Jo King wrote:The £2000 fine per charge plus costs is hardly a deterrent when you're charging £550 per person per month for 7 people in a house that probably costs no more than £1000 per month to run :evil:


Whilst I was researching the stories to verify the facts (because Property118 differ slightly from all the other reports) I found it talked about on other forums, and funnily enough that's a pretty universal reaction - everyone is saying that the fine & damages combined is less than 3 months rent :twisted: !

However the other Landlord is going to jail, so I suspect that one case was someone evading all regulation deliberately, and the other was someone being slapdash. If not it's difficult to equate the 2 punishments.
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Re: Rent to Rent

Postby Nick » Tue Apr 23, 2013 11:43 am

The victims

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Bola Ejifunmilayo and her daughter Fiyin died at 200 Fishermead Boulevard in Fishermead, which had been converted into bedsits. Lookman Adeyemi, from Buckfast Avenue, Bletchley, Milton Keynes, admitted three counts of breaking fire safety regulations. He pleaded guilty to failing to make suitable assessment of the fire risk, failing to make sure people could get out quickly in the event of a fire, and for putting insufficient fire detectors and alarms inside the building.

He was jailed for four months on Thursday 29 March 2012, and ordered to pay £10,000 in costs.

Teresa Rolland was lucky not to have acquired that HMO from Glenn Armstrong if this is the sort of thing that happens.
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