How to overcome the risk of being one of 20 apartments to let in the same development at the same time.
Brett Alegre-WoodChairman, YPC Group
Hey guys,
The other day, I was speaking with one of our clients, Alan, who had visited a site that we sold. I asked him for him feedback because I thought the conversation would be of value, especially for those looking at buying in a development with more than a few plots in it.
He said:'Overall, a first class site overlooking small junior school and open park area. The apartments are sufficiently off the main road yet within easy working distance of main Stockton shops centre and river. Overall much better than I had expected. The business risk as I see it is 20 apartments coming on the rental market at the same time.'
I picked up on his last point as I feel that it's an important one that concerns many people, yet it's one of the things that YPC clients don't have to worry too much about.
You need to stay educated...
Grab my FREE weekly property mastery e-newsletter and learn the very same information many have paid thousands to learn. It's valued at £199 per year and each week, I'll teach you everything I've learned while building the portfolios of thousands of my clients over the last 15 years. Learn from my experience and avoid making the mistakes I did!
You'll learn all this and more in just the first 3 weeks of this newsletter:
 Plus, a special bonus: you'll receive Brett's regular video updates, delivered straight into your inbox, where he turns on his video camera and decodes the week's property news for you!
|
Join our newsletter list for FREE today and you'll receive as a bonus a complimentary copy of Brett Alegre-Wood's best-selling book The 3+1 Plan!
You'll learn the safest time-proven strategies that will guide you and grow your portfolio during any economic boom, bust, recession or downturn.The 3+1 Plan is a step-by-step guide that will show you how, with just four properties, you will be able to fund the lifestyle you have always wanted. Even before you retire! Immediately you register for our newsletter we'll send you the PDF download link for this award-winning book so you can start reading right away...
| ||||||||||||
| |||||||||||||
I wrote back:Hey mate,Even though it's a business risk on my part when we take larger sites - the girls are very good at letting properties. So good that we very rarely pay out on our guarantees now. Since we only ever assign four properties per agent at any one time, this really limits our exposure as well to an area. Additionally, if there aren't enough agents in an area, we simply don't take the properties. I am actually very happy to pay out on the rental guarantee after 6 weeks because normally it's something that we have done wrong in the lettings process rather than anything to do with the actual property itself - Brett
I think the important point to take away is maximum 4 properties per agent.
This ensures that we never take too many properties on in any one development. We simply cannot afford this as we would take too much risk when you consider the second part of my email, the 6 weeks to Let Guarantee. I believe that any property with good solid fundamentals can be let out within 6 weeks anywhere in the UK and we've consistently achieved this.
Buying through YPC means that you are protected after that initial 6 weeks. You can check the full details by clicking here - 4 Property Guarantees
If you want to chat with the team on how this will work for your property then give us a call on 0207 812 1255.
Live with passion,
Brett Alegre-Wood
Reader comments for the article 'How to overcome the risk of being one of 20 apartments to let in the same development at the same time.'
You're invited to join in the discussion of this article. Do you have advice to share? An opinion or some feedback that adds to the discussion? Feel free to add it below! (Please note though that ALL comments are checked before they're posted.)
Brett reporting from Malaysia, should we open up an office in Malaysia?
How will the Euro affect you as an investor?
Is it realistic to have cashflow positive investment property 100% of the time?
How Much Capital Do You Need To Get Started In Property Investment?
How Quickly Should An Investor Build Their Property Portfolio?
Brett reveals London's newest, still-unknown hotspots in new video