A young, ambitious couple have revealed how they’re making thousands of pounds a month on rental properties they don’t even own.
Coventry based Jordan Boparan and Jessica-Marie Bradshaw are on track to make £4,500 in April – and they say their trick is a real money spinner.
The couple joined forces last year to work with landlords across the city to rent out homes on their behalf.
They pay the landlords a guaranteed monthly rent, and in return get to let the properties out at a higher rate, pocketing the difference.
And they are netting thousands of pounds from it.
By the end of March, they had five properties, and if all five are fully let out, the duo will be making £4,500 a month.
Jordan, 22, said he aims to clinch a further 48 deals by the end of 2019, which would deliver a turnover of £1millon plus.
He said: “We realise it’s a big goal, but we know it is possible.
“Both Jessica and I write down our goals. It is the first thing we do when we wake up and the last thing before we go to bed. I have 19 goals and know them all off by heart. It helps me stay focused.
“I read books about business and how to stay positive. I have a can-do attitude and vision of where I’m going. We share that mission.”
The couple said the rent-to-rent method gave them a foothold into the market.
To get started, Jordan and Jessica borrowed on their credit cards to give each property a lick of paint and new furniture.
Jessica said: “It’s helped us find tenants quickly because they can see the rooms are nice.
“It’s also made it easier for us to persuade landlords to sign up with us because they know their property will be improved, while at the same time they get a guaranteed rent.
“Some don’t want to know. They say that’s subletting but others do understand it after you’ve explained it to them and met at the property. It’s all done properly with legal contracts.”
“We negotiated a two-week, rent-free period with the first house we took on so that we had money coming in before we had to pay the landlord.
“We also have a break clause in the contract so that either party can pull out of the agreement if they want to after a year.”
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