Rents Up Again - New Record High....

IveSeenTheLight

Graham_Devon wrote: »

Jesus. Just give it up.

Graham,
I have just started today joining the conversation (which you were not involved in my discussion points).

Suggest unless you have anything to add for consideration, your post is pointless.

Graham_Devon wrote: »

as no amount of words you type is going to stop these people looking for anything and everything to slam you with.

Sometimes it takes others to make a point to make you reflect.
Percy has been very keen to say his business is ethical, whilst BTL is unethical.

It's been pointed out by many (Generali included (A well respected member from all viewpoints)) that this is not the case.

Ok, I'm making an extreme point, but to make ascertains that something is unethical, whilst claiming their own actions are squeaky clean leads to scrutiny.

I don't believe anybody is a 100% role model on morality or ethics. We all probably have done something knowingly or unknowingly which is questionable on any given matter.

IveSeenTheLight

Percy1983 wrote: »

40-50 DVD at £5, schools sell at £6 so make a profit of £40-£50.

Do you only burn DVD's to order, or is the school committed to a minimum order?

Percy1983

IveSeenTheLight wrote: »

Ok, rather than just point out the answers,, often it's a worthwhile exercise to provide helpful hints and let the person work out the answers for themslves: -

Let's start at the beginning then.

Firstly, a potential property needs to be identified.
Let's start with what is required ahead of securing a rental property.

1) Can you think of what steps (work) may be required to understand any given local market and assess the potential properties available?

2) Any investor ideally wants to invest the minimum and secure finances elsewhere (this allows personal investment to be utilised elsewhere). Can you think of the steps required to identify finance resource?

3) Will the investment require any modernisation / upgrading? What steps can you think of that may be required?

4) Can you consider what additional costs need to be factored into the purchase?

5) Having understood the local market, the available finance and costs for upgrade, a business model then needs to be evaluated. Can you think of what factors need to be considered to evaluate risk and provide a suitable profit?

Ok, 5 stages for consideration, before the property is even procured / bid for.

Have a think on these activities before we then consider the next stage of actions.

Yep got that, I went though similar in buying a house, there is some time there, the the one off setup time/costs.

So what do you do afterwards?

chucky wrote: »

Why do local authorities have List 99's then...

The list 99 (is it called that anymore?) can be used as a seperate quick reference but is also part of the enchanced DBS check I have.

Look at it this way, it is down to the schools to make sure contractors have all relevant checks in place, I have provided all information when asked and paid fees where needed and they have all been happy with my status.

Geniunely if you believe there is a hole in the system let me know and I will raise the query with the schools as I would hate to be for there to be a problem which could come back on me.

Percy1983

IveSeenTheLight wrote: »

Do you only burn DVD's to order, or is the school committed to a minimum order?

There is actually is not a minimum order but there is a sum on lower order quantities upto 20 copies.

In short to break even they need to sell 16 copies £6, this has never a problem as sales don't go below 16 (lowest to date is 23).

wotsthat

Pssst. Percy, you still haven't said why you think BTL is unethical.

Some legitimate concerns have been raised about some of the ethics of your business which you consider irrational. Is there a chance you're doing the same thing?

Loughton_Monkey

IveSeenTheLight wrote: »

Graham,
I have just started today joining the conversation (which you were not involved in my discussion points).

Suggest unless you have anything to add for consideration, your post is pointless.

Jesus, just give it up.

He won't understand!

Percy1983

wotsthat wrote: »

Pssst. Percy, you still haven't said why you think BTL is unethical.

Some legitimate concerns have been raised about some of the ethics of your business which you consider irrational. Is there a chance you're doing the same thing?

Sorry which ethics of my business are in question?

So far presumptions have been made and I have put them right, if I have missed one I am more than happy to clear it up for you.

wotsthat

Percy1983 wrote: »

Sorry which ethics of my business are in question?

So far presumptions have been made and I have put them right, if I have missed one I am more than happy to clear it up for you.

Doing some jobs at less than minimum wage to price out competition who would be acting illegally if they did the same, selling DVD's based on guilt, not checking the source of your customer's funds (they could be 'unearned'), having a policy of preventing people doing what you do for free.

No mention of btl (again) - it's just the Percy thread by the look of it.

Percy1983

wotsthat wrote: »

Doing some jobs at less than minimum wage to price out competition who would be acting illegally if they did the same, selling DVD's based on guilt, not checking the source of your customer's funds (they could be 'unearned'), having a policy of preventing people doing what you do for free.

No mention of btl (again) - it's just the Percy thread by the look of it.

Well by definition any business could do the same, my hourly rate is variable per job, the average is above minimium wage.

So I could employ somebody and send them to all the same jobs, they would work so many hours and the time they have spent would bring in enough to pay them above minimum wage.

My point on that one is I take a hit on smaller jobs to do whats right for the community I am not pricing out competition, they won't touch it.

I really don't understand how I am selling based on guilt, form what I am seeing people are quit happy to be buying, honestly I don't understand the reasoning to this question, please explain?

The schools income is all legit last time I checked.

How am I preventing others doing for free, the school can book anybody and if somebody offered to do it for free I am sure they would take them up on the offer (I haven't tied any customers in to contracts).

IveSeenTheLight

Percy1983 wrote: »

Yep got that, I went though similar in buying a house, there is some time there, the the one off setup time/costs.

So what do you do afterwards?

You're not considering this properly.
Buying a BTL is not the same as buying a house.
You have to calculate the Rental Yield to ascertain if it is a viable business or not.

However, as you have accepted there is work in securing the asset, the next stage (assuming all refurbishment / upgrades are completed and you have engages in with the necessary professionals would be to: -

6) Register as a landlord (In Scotland but expanding to some counties). This also incurrs a cost.

7) Advertise the property (Another cost)

8) Vet applicable tenants (Credit reference)

9) Create a Property Manual (Including out of hours support)

10) Arrange / Carry out a property deep clean

11) Arrange for an inventory

12) Arrange property insurance

13) Liaise with property Factor (another fee to be considered)

All the above and so far the tenants have not signed the lease yet!!!!!!!!