Rent-to-rent strategy proves a winner for Property Investors student!

winners on a wednesday

Rent-to-rent strategy proves a winner for Property Investors student!

When Nozie Moyo-Giwa attended the Property Investors Crash Course it opened her mind to a whole new way of making money from bricks and mortar. Nozie learnt how to profit from letting out other people’s houses – something she had never imagined was possible. Two years later she is earning more from property than her job and is still rubbing her eyes in disbelief that the training she received on the course was free.

 

‘I thought property was just for the rich’

 

Growing up in Zimbabwe, Nozie lacked many of the everyday things others take for granted. She had just one pair of shoes to last her the year and her father struggled to educate his children.

So, it was hardly surprising, not coming from an affluent background, that she thought property investing was just for the rich. Her opinion was changed when she came along to the Property Investors Crash Course. Over the course of two days, Nozie learnt about the many strategies which can be used to make money from the housing market.

“I thought the only way I can have a property myself is to buy my own home and maybe save money to buy a second house in 15 to 20 years’ time which I could rent out. But from the crash course I learnt that I could do all these different strategies, like rent-to-rent. It really blew my mind.”

However, like every successful entrepreneur she had obstacles and challenges to overcome along the way – in this case before she even arrived at the crash course.

Nozie had registered a business to provide supported living accommodation and was doing some research online when she came across one of Samuel Leeds’ YouTube videos.

“He was talking about how you can manage somebody else’s property and make a profit out of it. I just thought how is that possible?

 “After that I binged on all Samuel’s videos. I spent the whole day watching them. I didn’t even wash the dishes that day!” 

When she told her husband that you could rent someone else’s property and let it out to make a profit, he refused to believe her.

“I said from what I’ve watched on the videos it seems very legit. It’s something that you can do as a business.

“I said I’m going to book on Samuel Leeds’ training. It so happened it was the October school holidays and I’d taken annual leave that week. My husband said how are we going to manage with the kids? I said I’ll go with them if I have to. They will stay at the hotel, because my oldest was 16 at the time, and I will attend the training.

“When I left the crash course, I thought this is something I have to do. I just thought I have to go for this. I was fired up.”

 

‘I made 100 calls until someone said yes’

 

The strategy which really resonated with her was rent-to-rent and immediately after the course Nozie began contacting agents. With no notes to guide her on what to say, her tactic was to make as many telephone calls as she could until one day someone would ‘say yes’ to her.

She made around 100 calls to try to secure a rent-to-rent agreement with a property owner, only to be told landlords would be unwilling to go ahead as it sounded like sub-letting. 

However, a month after the crash course she identified a potential target in Coventry. It was a six-bedroom house with two tenants which had been on the market for about three months. From her training, Nozie knew she had found the right property because it was slightly rundown and there was an opportunity to get a good deal. 

The agent was familiar with the rent-to-rent strategy and so, after a satisfactory viewing, she negotiated the rent down from £1,200 to £1,000 a month. The agreement was for three years and she also obtained a rent-free period of two-and-a-half weeks.

The cost of renovating the house came to £1,000. It was money she didn’t have but she remembered what Samuel had said at the crash course.

“He said you can get into property using other people’s money, so I phoned my young brother in South Africa and he sent me some money. I was also starting a master’s course and used part of my student loan to put towards the house.”

Her husband, who was now on board having seen what she was doing worked, carried out most of the refurbishment himself. 

“He was Mr Sceptical at first about the strategies but now we’re doing everything together. He loves it and I trust his judgement. 

“I’m very grateful because without the support you would just get deflated, making phone calls, being turned down and not having finances.”

They only had about two weeks to turn around the property, prompting the agent to question whether it could be done in time. But there were already fire doors and fire alarms fitted, so all that they needed to do was to change the flooring and paint the property. 

property Covid 19

Nozie advertised the rooms, and they were snapped up by four students from Coventry University in the same month that the agreement started. But then Covid came along soon afterwards in the spring of 2020.

“Most of the students moved back to their families. They said we’re learning online now. We might as well just go back home and save our money. We couldn’t really argue with them. It was their choice.”

Faced with this unexpected crisis, Nozie, who works for a housing charity helping the homeless, had to be resourceful. She realised that councils had a lot of people in emergency accommodation who needed somewhere to stay in the long term.

So, she offered her rooms to Coventry City Council on condition she was paid at least one month’s rent and deposit before the tenant moved in. The authority agreed and referred four clients to her. Now only tenants from the council occupy the house.

The rent is paid to her directly every month from the tenants’ Universal Credit, guaranteeing her ability to pay the landlord his rent.

“We’re getting £2,170 a month from that property and it’s giving me a profit of about £770 after my bills. It feels really good. I never thought I would have an extra £700 in my life. I thought if you need additional money you just do a part-time second job and get £200 here and there. But that extra £700 made a huge difference.”

 

Free Property Investors Crash Course was transformational

 

Nozie saved the profit from her first deal and ploughed it into a second rent-to-HMO from the same agent, having built up a good rapport. All four bedrooms have en suites and are let to students.

“I earn a lot more from property than I earn from my own salary. I will eventually do property full-time, but I love my job. I feel I make a huge difference to the clients that I work with, relieving them from homelessness to have temporary accommodation and then permanent accommodation. It fulfils me.”

Her portfolio also includes another rent-to-rent which is let to a family. That property is making her £270 a month.

“I remember at the crash course Samuel said with a single let if you’re making £100 to £250 it’s usually enough, so I think that’s quite good.”

All her rent-to-rents are full now, giving her a total profit of about £1,800 a month.

Her life has been transformed since coming on the Property Investors Crash Course, she says.

“I still can’t believe that from just free training I’ve got so much knowledge. I’ve taken action and I’m getting extra money. I can give my kids what they need, whereas before they were lacking, so a lot has changed for me.”

Samuel Leeds

Rent-to-rent was the strategy which got Nozie started. Now she is about to embark on a buy, refurbish, refinance project after becoming an accidental property owner.

 

She was watching an online auction to see how the process works when she noticed people were bidding multiple times on a property. Assuming she would be outbid, she clicked a button to make an offer herself, only to receive a text message soon afterwards saying hers was the winning bid!

 

The property was in Bishop Auckland in County Durham, where prices are cheap, and was a bargain at £24,000. Nozie took out a bridging loan to purchase it.

 

After spending just over £2,000 on the renovation, it is now worth around £43,000. Her plan is to refinance it, pull out all her money and then use that possibly for another rent-to-rent.

 

“It’s called a serendipity moment where you actually get something really good by accident. I still can’t believe it today.”

 

Her strongest reason for becoming a property entrepreneur is to make sure her children don’t want for anything, as she once did.

 

Her children are already very interested in property themselves. They watch Samuel’s YouTube videos and have even started their own channel about property on the streaming service.

 

Nozie also sits down with them every month to discuss the progress on her business ventures and teaches them how to look for deals on the internet.

 

“This is why I’m doing it – to leave a legacy for them and to teach them about property so that in future they will be able to sustain themselves. I’m hoping in future I can help the youth in my church and teach them about property too.”

 

Nozie’s tips

 

  • If I’d sat back after going to the crash course, I would not have taken action. Taking action is key.

 

  • If you have any ideas about getting into property, start now. Time will not wait for you. I would advise you to go for training.

 

  • To anyone who is sceptical, I would say just go and feel the atmosphere at the crash course, whether it’s online or physical training. It will change your life psychologically. You come out of there feeling positive. I know that if I can do it so can you.

 

Samuel Leeds’ verdict

 

“Nozie has done so well. She relentlessly made phone calls to get her first rent-to-rent. So many people would have given up, but she kept going and deserves massive congratulations.

 

“She is now financially independent through property and getting a very good monthly income from doing it – and she’s helping people who really need affordable accommodation. It’s brilliant.”

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