In the video above, I spoke to Tom about the strategy he used to get rent to rent deals. I really want to go through the A to Z so that you guys can skip some of the hardships. Ideally, you will be able to just copy it and paste it from Tom’s experience. It is always better to copy from other people that have had success than to try and reinvent the wheel. In school children are taught that it is wrong to copy, but in the business world finding someone that has done what you want to do and copying makes good business sense.
Tom’s success as a young lad should be inspiring to anyone looking to start out in property. In this article, we will take a look at the three lessons you can learn from what Tom did in order to succeed in the Rent2Rent business and how you can do the same.
1. Go For No
Tom explained how it is important to ‘go for no’ when calling agents and asking them if you can rent a property on a rent to rent basis. Go for no is a method where you see each ‘no’ as a win and a step towards an eventual ‘yes’. If you make 10 calls today and all of them are a ‘no’, don’t get disappointed. Instead consider each ‘no’ as a win. Celebrate the fact you made the ten calls and realise you are that much closer to a ‘yes’!
A word of caution about ‘go for no’. It is very important that you are saying the right things and in the right way. Tom had attended online training and watched my videos where I make calls to agents, so he knew he was on the right track. On the other hand, if you don’t know what you are doing, going for no can give you a false sense of confidence and make you think you are on the right track when you need to rethink what you are doing.
2. See The Potential
Tom found a 2 bed property with a sitting room and loft. He knew that he could turn the sitting room and loft into bedrooms creating additional value. This meant he could turn this simple single let into a multi-let. The landlord was perfectly happy getting the rent for the property as a single let and didn’t want the hassle that comes with renting a property out by the room.
It is important to see past the current presentation or condition of a property if you want to maximise your options for rent to rent deals. Look for how you can use a property, not how it is currently being used.
3. Get Training
Tom attended my online crash course and has since gone on to do further training with me. Training is a huge part of success. You either have to go out and make the mistakes yourself or you can learn from the experiences of those that have done it all before. Getting proper training allows you to leverage the expertise of people that are financially free or even multi-millionaires (like myself) via property and apply their knowledge to your business and investments.
If you would like to attend the crash course and learn exactly what Tom did, you can book a free ticket here (£1 booking fee applies). Places book up fast, so I would suggest booking your ticket right now to avoid missing out. I look forward to meeting you and maybe having a chat about what you want to do in property. See you there!