856: College Dropout to $110K/Year in Cash Flow by Buying “Sheriff Sale” Properties w/Hunter Lawler
![856: College Dropout to $110K/Year in Cash Flow by Buying “Sheriff Sale” Properties w/Hunter Lawler](https://www.podcastworld.io/podcast-images/biggerpockets-real-estate-podcast-12f6bd85.webp)
Explore "tenantscreening" with insightful episodes like "856: College Dropout to $110K/Year in Cash Flow by Buying “Sheriff Sale” Properties w/Hunter Lawler", "720: Seeing Greene: Why Interest Rates Don’t Matter As Much as You Think", "623: 10th Grade Dropout to 400-Unit Apartment Complexes (WITHOUT Raising Money) w/Sofia Castro", "558: Seeing Greene: Cash Flow—The Most Overrated Metric in Real Estate?" and "476: Using Partners to Scale & Killing it With Airbnbs w/ Tony J Robinson" from podcasts like ""BiggerPockets Real Estate Podcast", "BiggerPockets Real Estate Podcast", "BiggerPockets Real Estate Podcast", "BiggerPockets Real Estate Podcast" and "BiggerPockets Real Estate Podcast"" and more!
What impact has coronavirus had on rental arrears?
It’s safe to say that coronavirus has had the opposite effect on house prices than what we originally thought it would. But what about rental arrears?
Understandably, tenants have struggled more than ever to pay their rent. The government has even put in considerable measures to stop you from taking action against those tenants.
But what impact has the coronavirus actually had on rent arrears?
Here’s what to expect on this week’s property podcast episode
There’s been a lot of contradicting surveys out there which makes it harder to actually know what the real impact has been.
But Rob & Rob have recently come across a report from Pay Prop which gets into this data - and that’s what The Robs are going to be picking apart.
The data looks at actual transactions from thousands of different tenants, so you can guarantee it to be more reliable than the numerous surveys asking landlords for their individual thoughts.
While the effects of coronavirus are being felt across the country, this led us into looking at tenant arrears as a whole.
If you’re a long-time listener, you’ll know that choosing where to invest is one of the most important things you need to consider when investing in property.
Because, believe it or not, there are a few areas in particular where a huge one in four tenants are in arrears.
Where are these areas?
That’s exactly what Rob & Rob are discussing on today’s episode.
Tune in to find out.
In the news
Maybe it’s the time of year, but we’ve come across one news headline that’s terrified us.
‘Boris Johnson’s 95% mortgages will put Britain back on course for a house price crash’.
Like Rob B, many others thought it was going to support the market when in actual fact it’s going to cause a crash!
However, like all good headlines, there is one major factor that The Guardian have missed out of this story.
The fact that 95% mortgages will first bring about a property boom and then a crash.
Which shouldn’t surprise you if you know how the 18-year property cycle works. There’s a crash after every boom.
If that wasn’t enough, we’ve found another headline which might not seem as interesting, but has the potential to be a bigger story.
‘John Lewis to build and furnish private rental properties’.
The standard of the rental market seems to constantly be upping its game. And it seems that John Lewis wants a piece of the pie.
The owners of the company also own Waitrose and therefore already own a lot of land and they want 40% of their annual income to come from somewhere other than retail. Hence why they’re turning to property.
Not only will all properties be furnished with John Lewis furniture, there will also be a food delivery service for tenants from Waitrose.
These are certainly going to be high-end properties.
Hub Extra
Do you hate cookies?
No, not the biscuit kind. The ones that pop up on every website you visit.
Well, so does Rob B and after moaning about it to Rob D, he was introduced to this nifty little tool.
It’s a browser extension called I don’t care about cookies. It works across all major browsers, simply just install it and the majority of those annoying pop ups will be blocked.
So now the only cookies you need to concentrate on are those that you’re dunking into your brew.
Let’s get social
We’d love to hear what you think of this week’s Property Podcast over on Facebook, Twitter or Instagram. You might even have a topic you’d like us to cover in the future - if so, pop us a message on social and we’ll see what we can do.
Make sure you’ve liked and subscribed to our YouTube channel where we upload new content every week!
If that wasn’t enough, you can also join our friendly property community on the Property Hub forum.
See omnystudio.com/listener for privacy information.
Last week we talked about the whole property buying process, all the way up to completion. This week, we're looking at the easy-to-overlook steps you need to take in order to prepare your property to let.
They include:
Then it's time to either start marketing yourself, or hand it over to an agent. We've got you covered there too...
See omnystudio.com/listener for privacy information.
You buy your property, you put a tenant in and take their first month's rent, you check your bank account a month later and...nothing.
Your tenant has fallen into arrears...and how you handle it could make the difference between a swift resolution and months with no income. In this episode, we take you step-by-step through the process of dealing with every investor's nightmare scenario.
We discuss:
Resource of the week
If you're anything like Rob B, your wallet is bulging with receipts rather than banknotes – and you're either letting expenses go unclaimed, or having to buy your bookkeeper one heck of a Christmas present.
Luckily, Receipt Bank can come to your rescue: all you need to do is take a photo of the receipt on your phone, and it'll store it securely for you. It'll even extract all the key data ready for automatic uploading to your cloud accounts package like Sage, Xero or Kashflow.
The best thing is the easier the process of dealing with your receipts is, the more likely you are to actually do it – which means you won't be paying too much tax as a result of overlooking legitimate expenses.
News this week
Buy-to-let mortgage rates are falling in response to the slowdown in lending demand after the stamp duty increase – and more lenders have been cutting their rates in the wake of the EU referendum.
Not only that, but the Bank of England has relaxed capital requirements for banks – freeing up £150 billion of potential funding for lending.
What does this mean? Well, cheap and easy money tends to mean higher asset prices as the funds have to go somewhere – and it also means that the lessons of the previous crash have been forgotten. This is exactly what the property cycle tells us should happen – so once we come out of the mid-cycle dip, we know what's meant to happen next...
Vote to have the Summit come to you!
In October we're holding our first ever Property Hub Summit outside London – and you get to choose where it is!
There's still time to swing it in the favour of your chosen city – there are several gathering plenty of votes, but it's too close to call right now...
Join the conversation
What's your own process for handling tenants who fall into arrears?
Have you ever needed to go through the court process to evict a tenant, and do you have any tips for other Hub members?
We’d love to know, so join the discussion in The Property Hub!
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At the Property Investor Show, we grabbed interviews with experts on two of landlords’ least favourite topics: tenants and taxes. First we spoke to Paul Shamplina from Landlord Action about the messes landlords get themselves into with troublesome tenants. Then, to keep the party mood going, we turned our attention to tax – grabbing Janice […]
The post TPP165: Tenants and taxes – interviews with Paul Shamplina (Landlord Action) and Janice Parker (Rita4Rent) appeared first on The Property Hub.
See omnystudio.com/listener for privacy information.
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