East Midlands Property Networking Club - Monday 2nd March
East Midlands Property Networking Club is the best way to meet successful property experts and entrepreneurs in order for you digest their knowledge and emulate their achievements.
The next event will be held on Monday 2nd March 2009, Nottingham, starting at 7pm. Pre register now at Event: East Midlands Property Networking Club
The venue:
Novotel Hotel (Junction 25 of the M1)
Bostock Lane
Long Eaton
NOTTINGHAM
NG10 4EP
Guest speakers at this month’s event will be: Paul Galbraith
Pre-register Your Details Below and Follow the Payment Instructions £10*
Non registered guests - £20 on the door
Register now: Event: East Midlands Property Networking Club
Wednesday, January 28, 2009
Sunday, January 18, 2009
This was sent to me by one of my mastermind delegates, it is letters like this that keep helping out other investors.
How you can build a million pound property portfolio while the world is in economic crisis
When I met Rhett Lewis just over a year ago, I knew little about investing in property. I thought it was what people with money did. Footballers, Business Owners, Long Time savers etc. As a letting agent, I had many landlords who had invested their life savings through a third party and were deeply unhappy with their investment. Having bought off plan (prior to being built), in city centres, the capital appreciation upon completion was lower than projected, the rental income promised was way over what the current market was paying and the full monthly costs of letting agents fees, service charges, insurances and maintenance not covered under the guarantees had not been highlighted and included in the monthly cash flows demonstrated to the investor at the time of purchase.
Sadly as the crunch hit the values of the new build properties plummeted and still the rents for these city centre developments have yet to catch up with the overall nationwide rental market.
I’d always wanted to be a property investor, but as I had no spare cash to speak of, I had convinced myself I would have to wait until I had saved at least £30,000 to cover all costs involved in buying my first investment property.
How wrong was I? My first step into the world of BMV (Below Market Value) was a £250 seminar in Nottingham with a guy called Rhett Lewis. He’d bought over 100 properties using none of his own money (or so he advertised). I thought it sounded too good to be true, but as the course was so cheap compared to £2 - £5,000 for a weekend seminar with many investment ‘gurus’ making all kinds of promises, I thought I’d go and hear Rhetts story.
What I learned, blew my mind. With the right marketing techniques, a great ‘power’ team around you, an investment mentor and a bit of confidence I too could start buying houses with no or very little money!
I immediately joined Rhetts mastermind group, giving me direct access to his expertise, the expertise of his ‘power’ team, made up of solicitors, mortgage brokers, marketers etc and other investors either experienced or starting out like me. I began my marketing campaign and unbelievably secured deals with the first two vendors I went to see!
Here is an example of those deals;
Deal 1 - 3 Bed Terrace in Barnsley
Property Valuation £95,000
Negotiated Price £76,000
Discount £19,000 20% BMV
Mortgage Payment/Voids/Repairs £383
Rent Achieved £450
Positive monthly cashflow £77
No refurbishment or decorating work to be done and I found tenants within a week given the added benefit that I am a letting agent!
Deal 2 – 2 Bed Terrace in Darfield
Property Valuation £90,000
Negotiated Price £72,000
Discount £18,000 20% BMV
Mortgage Payment/Voids/Repaires £350
Rent Achieved £450
Positive monthly cashflow £100
No refurbishment or decorating work to be done and again I found tenants immediately.
Since those early days I have continued to use the resources of Rhett Lewis Investments, including seminars, networking events, teleconferences etc and over the last year with his help have built a portfolio worth in excess of 1 million pounds.
More recently however as I’m sure you are aware the lending climate has changed and lenders have withdrawn the products I used to make those purchases. At the moment the criteria for borrowing is slim and restrictive making it much more challenging to put a deal together. However, NOW is the time to buy! The house prices are dropping, repossessions are on the up and many more people need help selling their properties immediately, but this is coupled with my time becoming increasingly precious and focused on more immediate issues such as increasing business and coping with the impending ‘economic winter’.
So what to do? I know that now is the best time to buy. I want to keep investing, but I don’t have the time or large amounts of cash that I can leave tied up in properties for the next 10 years! To this end I have again turned to the expert for help. Rhett is negotiating amazing deals between 25 – 30% BMV and with the help of his ‘power’ team is still making it possible to buy property with minimal investment.
So, for a very reasonable fee, he does all of the work I was doing trying to find the deals, negotiates the discount, completes the entire purchase process (hours of work), undertakes any works that need doing, guarantees my rent for two years and guarantees my maintenance for two years! And if that’s not enough, this costs me in the region of only £5 - £10,000 overall!
Sounds too good to be true doesn’t it? Don’t believe me? Here is a deal he has recently done for me;
Deal 3 – 3 Bed Semi in Nottingham
Property Valuation £90,000
Negotiated Price £63,500
Discount £26,500 30% BMV
Mortgage Payment £370
Rent Achieved £550
Positive monthly cashflow £180
Pretty amazing I think you’ll agree! But don’t take my word for it, come and meet Rhett and find out for yourself how it all works. I beg you though, don’t wait until the credit crunch is all over and the house prices have risen again. A savvy person takes advantage of a down market as well as an up. So join me and surprise your friends, family and colleagues and show them all how you built a million pound property portfolio while the world was in economic crisis!
Rhett Lewis
www.rhettlewis.com
How you can build a million pound property portfolio while the world is in economic crisis
When I met Rhett Lewis just over a year ago, I knew little about investing in property. I thought it was what people with money did. Footballers, Business Owners, Long Time savers etc. As a letting agent, I had many landlords who had invested their life savings through a third party and were deeply unhappy with their investment. Having bought off plan (prior to being built), in city centres, the capital appreciation upon completion was lower than projected, the rental income promised was way over what the current market was paying and the full monthly costs of letting agents fees, service charges, insurances and maintenance not covered under the guarantees had not been highlighted and included in the monthly cash flows demonstrated to the investor at the time of purchase.
Sadly as the crunch hit the values of the new build properties plummeted and still the rents for these city centre developments have yet to catch up with the overall nationwide rental market.
I’d always wanted to be a property investor, but as I had no spare cash to speak of, I had convinced myself I would have to wait until I had saved at least £30,000 to cover all costs involved in buying my first investment property.
How wrong was I? My first step into the world of BMV (Below Market Value) was a £250 seminar in Nottingham with a guy called Rhett Lewis. He’d bought over 100 properties using none of his own money (or so he advertised). I thought it sounded too good to be true, but as the course was so cheap compared to £2 - £5,000 for a weekend seminar with many investment ‘gurus’ making all kinds of promises, I thought I’d go and hear Rhetts story.
What I learned, blew my mind. With the right marketing techniques, a great ‘power’ team around you, an investment mentor and a bit of confidence I too could start buying houses with no or very little money!
I immediately joined Rhetts mastermind group, giving me direct access to his expertise, the expertise of his ‘power’ team, made up of solicitors, mortgage brokers, marketers etc and other investors either experienced or starting out like me. I began my marketing campaign and unbelievably secured deals with the first two vendors I went to see!
Here is an example of those deals;
Deal 1 - 3 Bed Terrace in Barnsley
Property Valuation £95,000
Negotiated Price £76,000
Discount £19,000 20% BMV
Mortgage Payment/Voids/Repairs £383
Rent Achieved £450
Positive monthly cashflow £77
No refurbishment or decorating work to be done and I found tenants within a week given the added benefit that I am a letting agent!
Deal 2 – 2 Bed Terrace in Darfield
Property Valuation £90,000
Negotiated Price £72,000
Discount £18,000 20% BMV
Mortgage Payment/Voids/Repaires £350
Rent Achieved £450
Positive monthly cashflow £100
No refurbishment or decorating work to be done and again I found tenants immediately.
Since those early days I have continued to use the resources of Rhett Lewis Investments, including seminars, networking events, teleconferences etc and over the last year with his help have built a portfolio worth in excess of 1 million pounds.
More recently however as I’m sure you are aware the lending climate has changed and lenders have withdrawn the products I used to make those purchases. At the moment the criteria for borrowing is slim and restrictive making it much more challenging to put a deal together. However, NOW is the time to buy! The house prices are dropping, repossessions are on the up and many more people need help selling their properties immediately, but this is coupled with my time becoming increasingly precious and focused on more immediate issues such as increasing business and coping with the impending ‘economic winter’.
So what to do? I know that now is the best time to buy. I want to keep investing, but I don’t have the time or large amounts of cash that I can leave tied up in properties for the next 10 years! To this end I have again turned to the expert for help. Rhett is negotiating amazing deals between 25 – 30% BMV and with the help of his ‘power’ team is still making it possible to buy property with minimal investment.
So, for a very reasonable fee, he does all of the work I was doing trying to find the deals, negotiates the discount, completes the entire purchase process (hours of work), undertakes any works that need doing, guarantees my rent for two years and guarantees my maintenance for two years! And if that’s not enough, this costs me in the region of only £5 - £10,000 overall!
Sounds too good to be true doesn’t it? Don’t believe me? Here is a deal he has recently done for me;
Deal 3 – 3 Bed Semi in Nottingham
Property Valuation £90,000
Negotiated Price £63,500
Discount £26,500 30% BMV
Mortgage Payment £370
Rent Achieved £550
Positive monthly cashflow £180
Pretty amazing I think you’ll agree! But don’t take my word for it, come and meet Rhett and find out for yourself how it all works. I beg you though, don’t wait until the credit crunch is all over and the house prices have risen again. A savvy person takes advantage of a down market as well as an up. So join me and surprise your friends, family and colleagues and show them all how you built a million pound property portfolio while the world was in economic crisis!
Rhett Lewis
www.rhettlewis.com
Saturday, January 17, 2009
Where Will All The Smart Investors Be January 19th 2009?
You can kick off the year with the UK ’s Leading Property Networking the Berkshire Property Meet hosted by Juswant & Sylvia Rai. In 2008 the event has proved to consistently attract around 200 property, experts and professionals through out 2008. Juswant & Sylvia are dedicated to helping people succeed by allowing you to connect with those people that will make a huge difference to you business in 2009 and beyond.
Monday 19th January 2009 they have Vanish Patel a seasoned property professional and expert who will be sharing with you - "4 Reasons Why Smart Property Investors Are Going To Make An Absolute Killing From Property Over The Next 24 Months"
Who is Vanish Patel?
His BIO is available for download with the full details of the Berkshire Property Meet
Register Now >>>> http://www.berkshirepropertymeet.com
In order to maximise the impact of what they are trying to achieve for the benefit of all property investors there will be a series of conference calls pre & post the event hosted by Vanish Patel & Juswant Rai.
Sunday 18th @ 8pm - Conf Call
Monday 19th @ 7pm -Live Talk at Berkshire Property Meet
Tuesday 20th @ 11am, 3pm & 8pm - Conf Calls
In order to receive full details of the conf call and the event. Make sure you register now:-
http://www.berkshirepropertymeet.com
Rhett Lewis
www.rhettlewis.com
You can kick off the year with the UK ’s Leading Property Networking the Berkshire Property Meet hosted by Juswant & Sylvia Rai. In 2008 the event has proved to consistently attract around 200 property, experts and professionals through out 2008. Juswant & Sylvia are dedicated to helping people succeed by allowing you to connect with those people that will make a huge difference to you business in 2009 and beyond.
Monday 19th January 2009 they have Vanish Patel a seasoned property professional and expert who will be sharing with you - "4 Reasons Why Smart Property Investors Are Going To Make An Absolute Killing From Property Over The Next 24 Months"
Who is Vanish Patel?
His BIO is available for download with the full details of the Berkshire Property Meet
Register Now >>>> http://www.berkshirepropertymeet.com
In order to maximise the impact of what they are trying to achieve for the benefit of all property investors there will be a series of conference calls pre & post the event hosted by Vanish Patel & Juswant Rai.
Sunday 18th @ 8pm - Conf Call
Monday 19th @ 7pm -Live Talk at Berkshire Property Meet
Tuesday 20th @ 11am, 3pm & 8pm - Conf Calls
In order to receive full details of the conf call and the event. Make sure you register now:-
http://www.berkshirepropertymeet.com
Rhett Lewis
www.rhettlewis.com
Massive buy-to-let scam cracked by fraud squad
A multi-million pound buy-to-let property scam has been uncovered by the Serious Fraud Office (SFO), with five directors of a defunct property investment business pleading guilty. The £80 million fraud – which the SFO described as a type of Ponzi scheme – stung at least 1,750 investors who paid £25,000 each in return for the promise of a house in the North East of England.
The investment company, PPP, which has since been wound up, promised a house in an up-and-coming area. They said it would be refurbished to a tenantable standard, to be let to vetted tenants and maintained on behalf of the landlord. The SFO said that crucially for many investors, PPP promised rent would be guaranteed by means of an insurance policy which would cover any periods when the property was not tenanted.
The prosecution alleged that the defendants misled investors in almost every respect and five directors – John Potts, Peter Gosling, Natalie Laverick, Peter Graham and Eric Armstrong – all pleaded guilty to fraud.
The majority of the properties were un-let, with half still awaiting commencement of renovation works. Also, the crucial ‘rental guarantee scheme’, which investors were told was underwritten by a ‘blue chip insurance company’ was found to be a sham, the SFO said.
The SFO described the use of company funds for personal gain by some of the defendants as ‘simply staggering’.
The five defendants are to be sentenced in mid to late March 2009.
Rhett Lewis
www.rhettlewis.com
A multi-million pound buy-to-let property scam has been uncovered by the Serious Fraud Office (SFO), with five directors of a defunct property investment business pleading guilty. The £80 million fraud – which the SFO described as a type of Ponzi scheme – stung at least 1,750 investors who paid £25,000 each in return for the promise of a house in the North East of England.
The investment company, PPP, which has since been wound up, promised a house in an up-and-coming area. They said it would be refurbished to a tenantable standard, to be let to vetted tenants and maintained on behalf of the landlord. The SFO said that crucially for many investors, PPP promised rent would be guaranteed by means of an insurance policy which would cover any periods when the property was not tenanted.
The prosecution alleged that the defendants misled investors in almost every respect and five directors – John Potts, Peter Gosling, Natalie Laverick, Peter Graham and Eric Armstrong – all pleaded guilty to fraud.
The majority of the properties were un-let, with half still awaiting commencement of renovation works. Also, the crucial ‘rental guarantee scheme’, which investors were told was underwritten by a ‘blue chip insurance company’ was found to be a sham, the SFO said.
The SFO described the use of company funds for personal gain by some of the defendants as ‘simply staggering’.
The five defendants are to be sentenced in mid to late March 2009.
Rhett Lewis
www.rhettlewis.com
Tuesday, January 13, 2009
Landlords are now legally required to provide an Energy Performance Certificate (EPC) for properties that are marketed to new or prospective tenants or re-let to existing tenants. However, research by Countrywide Residential Lettings (CRL) indicates that around 50% of landlords who are actively seeking tenants do not have an EPC yet and are therefore risking a £200 fine. CRL, which claims to be the UK’s largest network of letting agents, is urging reluctant landlords to take immediate action and arrange for an EPC assessment.
John Hards, CRL’s managing director, warns that failure to do so may result in properties standing empty at a time when the local market is in demand and full of potential tenants.
The certificates assess the energy efficiency rating of a property by awarding an energy and carbon emission efficiency grade from A to G.
EPC’s also include recommendations for improving a home’s energy efficiency and reducing fuel costs. They are valid for ten years for lettings and cost around £75 to £80.
Landlords who have tenants in place and are therefore not breaking the law if their properties do no have EPC’s are also advised to act now to minimise the risk of void periods.
Rhett Lewis
www.rhettlewis.com
John Hards, CRL’s managing director, warns that failure to do so may result in properties standing empty at a time when the local market is in demand and full of potential tenants.
The certificates assess the energy efficiency rating of a property by awarding an energy and carbon emission efficiency grade from A to G.
EPC’s also include recommendations for improving a home’s energy efficiency and reducing fuel costs. They are valid for ten years for lettings and cost around £75 to £80.
Landlords who have tenants in place and are therefore not breaking the law if their properties do no have EPC’s are also advised to act now to minimise the risk of void periods.
Rhett Lewis
www.rhettlewis.com
Saturday, January 10, 2009
What are Tenants looking for in a Rental Property?
With the wide choice of rental properties now available many tenants can afford to shop around for that ‘perfect’ property. But what are tenants currently looking for in a rental property and just how can you make sure they will want yours?
“Tenants are looking for good value accommodation that isn’t dated. The property must be in top condition and all safety laws must be adhered to. Added to this, the property should be warm and energy efficient with plenty of storage and the tenant must have confidence that any problems during their tenancy will be dealt with effectively and swiftly by the landlord or agent.” Ensure your potential tenants feel at home by asking yourselves the questions about your property that they will inevitably be asking them selves too…
How much can I afford to pay?
Make sure your property is competitively priced for the area and look to reduce the rent you’re asking if necessary. In the current climate all prospective tenants will be looking at their budgets calculating what they will have to pay each month. Including bills. Some savvy landlords are even offering the first two weeks rent free to ensure a quick let. “In the current climate we’re finding a lot more tenants are putting in offers on rental properties and all these must be considered by the landlord.”
What’s the location like?
They often say location is everything when buying a house… and renting is no exception! If looking in to invest in a buy to let search in low crime areas with good transport links, such as a major road network or a train station nearby. Think about what the area is like and visit the neighbours to find out what it’s like to live there. And, remember, areas with universities, hospitals or major industry is likely to be densely populated with people looking for temporary homes.
Are their local amenities?
Potential tenants will want to know that they can enjoy their chosen lifestyles with ease, so ensure that there are good range of amenities, such as schools, restaurants and ships near by.
What condition is the property in?
Tenants will be put off be properties in a poor condition so give your property a facelift – white wash interior walls and clean the carpets. Crumbling walls or signs of damp are going to send potential tenants straight back out your door. The structure of your building is important too – leaning walls, large cracks and leaky gutters won’t help you let the property quickly either. “Tenants are now just as picky as owners – ensure your property is in a good condition, neutrally decorated and has a modern kitchen and bathroom.”
Are the appliances in good working order?
Potential tenants will not only be inspecting the interior and exterior of your property – they will also be taking a close look at the appliances you’re supplying. “Tenants are definitely looking for good quality white goods and, wherever possible, a microwave and dishwasher too – ensure your appliances are modern and in good working order before marketing the property.”
Take a walk around your property and consider the following:
Are there enough telephone points?
Are there sufficient kitchen utensils?
Is the shower more than a dribble?
Does the toilet flush easily?
Are the fridge and freezers big enough?
Am I going to be warm enough?
Potential tenants will be looking for a good central heating system and they’ll want to know all the radiators actually work too. Good insulation is also essential. Double glazing, well fitting doors and windows and rood and wall insulation will all help to keep your tenant warm, as well as saving them money on their gas and electricity bills.
Am I going to be safe?
Make sure that a prospective tenant will feel safe at your property by doing the following (and, remember, many of these things are legal requirements too!):-
All soft furnishings should be labelled as fire resistant
Fitting a burglar alarm
Point out the carbon monoxide detectors
Fitting five-lever mortise locks and window locks
Providing a safety blanket and a fire extinguisher
Make sure all the smoke alarms work
Ensure all electrical appliances have been PAT tested.
Provide copies of your gas and electric certificates
What happens if I have a problem?
Make sure your potential tenant knows that you are there to help and will try to fix problems and do minor maintenance as quickly and efficiently as possible. You may even want to leave them emergency contact numbers for plumbers and handymen. “Additionally, if your property’s fully managed by a god property management agency it will give your tenants the confidence that problems will not only be dealt with swiftly but also helpful advice will only ever be a phone call away.”
Rhett Lewis
www.rhettlewis.com
With the wide choice of rental properties now available many tenants can afford to shop around for that ‘perfect’ property. But what are tenants currently looking for in a rental property and just how can you make sure they will want yours?
“Tenants are looking for good value accommodation that isn’t dated. The property must be in top condition and all safety laws must be adhered to. Added to this, the property should be warm and energy efficient with plenty of storage and the tenant must have confidence that any problems during their tenancy will be dealt with effectively and swiftly by the landlord or agent.” Ensure your potential tenants feel at home by asking yourselves the questions about your property that they will inevitably be asking them selves too…
How much can I afford to pay?
Make sure your property is competitively priced for the area and look to reduce the rent you’re asking if necessary. In the current climate all prospective tenants will be looking at their budgets calculating what they will have to pay each month. Including bills. Some savvy landlords are even offering the first two weeks rent free to ensure a quick let. “In the current climate we’re finding a lot more tenants are putting in offers on rental properties and all these must be considered by the landlord.”
What’s the location like?
They often say location is everything when buying a house… and renting is no exception! If looking in to invest in a buy to let search in low crime areas with good transport links, such as a major road network or a train station nearby. Think about what the area is like and visit the neighbours to find out what it’s like to live there. And, remember, areas with universities, hospitals or major industry is likely to be densely populated with people looking for temporary homes.
Are their local amenities?
Potential tenants will want to know that they can enjoy their chosen lifestyles with ease, so ensure that there are good range of amenities, such as schools, restaurants and ships near by.
What condition is the property in?
Tenants will be put off be properties in a poor condition so give your property a facelift – white wash interior walls and clean the carpets. Crumbling walls or signs of damp are going to send potential tenants straight back out your door. The structure of your building is important too – leaning walls, large cracks and leaky gutters won’t help you let the property quickly either. “Tenants are now just as picky as owners – ensure your property is in a good condition, neutrally decorated and has a modern kitchen and bathroom.”
Are the appliances in good working order?
Potential tenants will not only be inspecting the interior and exterior of your property – they will also be taking a close look at the appliances you’re supplying. “Tenants are definitely looking for good quality white goods and, wherever possible, a microwave and dishwasher too – ensure your appliances are modern and in good working order before marketing the property.”
Take a walk around your property and consider the following:
Are there enough telephone points?
Are there sufficient kitchen utensils?
Is the shower more than a dribble?
Does the toilet flush easily?
Are the fridge and freezers big enough?
Am I going to be warm enough?
Potential tenants will be looking for a good central heating system and they’ll want to know all the radiators actually work too. Good insulation is also essential. Double glazing, well fitting doors and windows and rood and wall insulation will all help to keep your tenant warm, as well as saving them money on their gas and electricity bills.
Am I going to be safe?
Make sure that a prospective tenant will feel safe at your property by doing the following (and, remember, many of these things are legal requirements too!):-
All soft furnishings should be labelled as fire resistant
Fitting a burglar alarm
Point out the carbon monoxide detectors
Fitting five-lever mortise locks and window locks
Providing a safety blanket and a fire extinguisher
Make sure all the smoke alarms work
Ensure all electrical appliances have been PAT tested.
Provide copies of your gas and electric certificates
What happens if I have a problem?
Make sure your potential tenant knows that you are there to help and will try to fix problems and do minor maintenance as quickly and efficiently as possible. You may even want to leave them emergency contact numbers for plumbers and handymen. “Additionally, if your property’s fully managed by a god property management agency it will give your tenants the confidence that problems will not only be dealt with swiftly but also helpful advice will only ever be a phone call away.”
Rhett Lewis
www.rhettlewis.com
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