Your HMO Expert - HMO Property Investing

Millennia Property nominated for Landlord & Buy To Let Awards!

Matthew Moody — Fri, 05 Nov 2010 08:33:46 +0000

Millennia Property is in the running for private rented sector Oscars.

Millennia Property has been shortlisted for Best Letting Agent (Midlands) in the national Landlord & Letting awards.

The Landlord & Letting Awards are the premier nationwide private rented sector awards in the UK. Trophies will be presented by TV presenter, businessman and landlord Craig Phillips, winner of the first ever Big Brother series, at a glamorous awards ceremony in Birmingham on Wednesday 17th November.

Matthew Moody said: “It’s fantastic to be shortlisted for the awards and a testament to the professionalism, hard work and commitment of everyone at Millennia Property. Companies from across the UK enter these awards and we are up against some national players so my fingers are now crossed that we bring home a trophy!”

Oliver Romain, head Awards judge and editor of Landlord & Buy to Let magazine, the leading magazine for the residential letting sector, said: “The response to this year’s Awards was phenomenal and we received over 550 entries, so Millennia Property has done brilliantly to get shortlisted. The private rented sector gets a tough time in the media, however, the vast majority of people have a positive experience and it’s great that we have the opportunity to recognise and reward the best in the industry”.

Millennia Property specialise in the complex but highly lucrative HMO (houses of multiple occupation) field where average yields can be 10%+ alongside traditional single-let flats and houses. Together with a branch network that spans 8 counties and a full-service back-end lettings agent system, we are in a prime position to help you accelerate your rental profits and your portfolio.

Alongside traditional lets, Millennia Property also helps landlords increase their portfolios through education, consultancy, sourcing and investment products - all of which can be discussed with your Regional Business Manager.

If you are a landlord whose property is in:

Bedfordshire

Cambridgeshire

Derbyshire

Essex

Hertfordshire

Lincolnshire

Northamptonshire

Yorkshire

Then give us a call today on 01604 521301 or submit your details via our online contact form below and one of our staff in the appropriate office will call you back within one business day.

Recession-Proof Cashflow Strategies

Matthew Moody — Wed, 03 Nov 2010 19:14:27 +0000

In today’s market with capital values plummeting and costs seemingly doubling over night, it is crucial that you implement cashflow strategies into your portfolio.

But what is cashflow and how does it impact me?

At its very basic, cashflow is the money that you have left after all of your income has come in and all of your expenses have gone out. It can be very easy to overlook when things are doing well – but when they aren’t, it’s crucial that you focus on ensuring a positive return at the end of every month.

Cashflow Strategy 1: Rent Your Properties

This strategy is very simple but you’d be surprised at how many landlords allow one of their properties to become vacant. This may even be you – do you have one, two or more vacant properties right now draining your cashflow?

If so; your immediate priority should be to get this rented – even if you have to take a short-term hit. By this I mean, if you have lower the rent below what you really want in order to get your property filled – then do it. I’ve taken hits of £50 to £200 on a month sometimes to get a property full but this short-term approach will ultimately serve you well as the added cashflow (even if it is slightly negative) will ensure that the portfolio as a whole should be cashflow positive.

Top Tip: A lot of landlords now are using the Local Housing Allowance to boost rents because often, they will pay more than a private tenant – such is the demand for social housing now.

Cashflow Strategy 2: Manage Your Expenses

This one is crucial and could make or break you very quic

Every expense needs to be justifiable and beneficial to your long-term aims. It is also worth reviewing all major expenses at least quarterly to investigate what you can reduce.

So, perhaps your long-term aim is to buy 3 properties this year but so far, you’ve only bought one but you’ve been to 4 networking sessions a month. STOP!

Networking is highly beneficial but it needs to be tempered with the right objectives – for instance, I generally allow around £100 in expenses for every networking meeting I attend outside of my immediate local area (20 miles or less) because this is the true cost after mileage, parking, subsistence, networking fee, drinks and kebab on the way home. You get the picture.

So far this year, I’ve saved over £250 per month by switching my utilities to Utility Warehouse; £50 in subscriptions I never used and another £150 through cutting out some networking sessions/meetings that were not productive.

Top Tip: Set a target for yourself of £100 savings and see how easy it is to reach this figure.

Cashflow Strategy 3: Lease Options

This is another way in which you can release additional cash flow from your properties.

The brilliance of this strategy is that the tenant you are appealing to is somebody that ultimately wishes to purchase the property from you. They are highly unlikely to default, they’ll normally pay over market rent plus they’ll give you a nice deposit of 3-5% of the purchase value when they move in and they’ll pay around 20% every month in additional rent payments towards their deposit.

That attached to their longer-than average tenure (so no voids) together with their willingness to look after and maintain their new home means that this strategy is already starting to be implemented by many savvy investors.

Why This Strategy?

Larger Deposit

Above Market Rent

20% Additional Rent Payments Towards Deposit

Long-Term Tenants

Top Tip: Advertise for Rent to Own clients FIRST before going and purchasing a house. This way, you are secure in the knowledge that you have a number of leads that you can offer the property to.

Cashflow Strategy 4: Mixing It Up

Look at ways in which you can mix up the rental income from a particular property that you own or are considering buying. You don’t just have to have one income coming in per property – you could generate multiple incomes from residential and commercial clients.

You can make substantial returns from small shops with flats above them, dividing a larger property into flats, getting planning permission for a corner plot build, renting out garages or parking spaces, providing corporate or short term lets – the list is endless. You just need to sit down and think of some ideas outside of the box.

Here’s one I am currently trailing which is working great. I own a lot of large detached houses with garages. I’ve been renting these out successfully for the last couple of years for people who want to store a classic car, a sought-after motorbike or just general household junk. I’m getting £20 to £40 per month for each garage – it’s not a huge amount but I’ve just increased my yield by up to £480 per year!

Top Tip: Look at any unused space in your property or garden and figure out what you can use it for. We’re considering turning an old out-building into a small flat at the moment.

Cashflow Strategy 5: Sourcing

This is for a time-rich person who can go out there and start doing some deals.

Perhaps you haven’t got the funds to buy right now; perhaps you’ve got a good marketing system going and too many leads to know what to do with them, perhaps you want to build some cash up before you get investing yourself. Either way, sourcing property for other buyers is big business.

You can do this in a number of ways:

Sell on unqualified leads

Sell on telephone qualified leads

Qualify and Package a deal

Package a deal with “lock-in” agreements and financing

All of these will give you varying levels of fees from £50 up to 3% of the property’s value at the top end. It’s possible to make a very good living just sourcing and passing through deals to other clients.

Top Tip: Focus on one particular type of sourcing and become very good at that. A niche market will always outperform a broad market so keep it focused and the customers will come.

Cashflow Strategy 6: HMO’s

For me, the holy grail of property investing and where the real cashflow returns are always made.

Take a property and rent it out by the room to young professionals. You can expect to double or triple your yield instantly and the good thing is you can even do this on small 3 bed houses.

Let’s look at an example:

3 bed end terrace worth £125,000 with 3 bedrooms (2 doubles, 1 single) and 2 reception rooms.

What I would do is rent out four rooms, keep one aside as a communal area and take rental income of £1472 to £1645 per calendar month. Take approximately £100 per month per tenant on bills and on an average 85% gearing, your monthly cashflow would be £497 to £670 per calendar month!

A lot of people believe that its hassle to run HMO’s and I have two comments on this.

Firstly, is it worth the hassle to take a 3 bed terrace from a 5% to a 16% yield? I think so.

Secondly, it does take some time and effort to set up in the beginning but once you have a HMO running, it’s no more than a couple of hours per week per house.

Top Tip: Buy a 2-storey property with 4 bedrooms and 2 reception rooms giving you 5 bedrooms to play with for less than £200,000 and you will make at least £500 per month minimum.

Summary

Property investors are not having the best of times at the moment. There’s a lot of negative press, lenders are running scared and the testing times are set to continue.

However, if you can manage to work on your cashflow in the next 12 months and keep your properties ticking over, then by the time of the next property boom, you’ll be a very wealthy player.

In the words of Jerry Maguire “show me the money” and the cashflow will keep you going.

Show Me The Money

Matthew Moody — Mon, 23 Aug 2010 19:56:18 +0000

I love this clip and I think anybody serious about property should love it too.

After all, what is anybody in property investing for - unless they want a little piece of the pie.

We don't go through all the heartache, the blood, the sweat, the tears, the disgruntled tenant, the broken toilet, the boiler and central heating going on a saturday night in december, the kitchen flooding, the non-paying obtuse tenant, the tax return, the worry, the stress, I could go on and on and on...

No, we don't go through all of this for the good of our health.

We do it so that one day we can see the money (cashflow) coming trickling through, then roaring through.

Of course, if you have HMO's, you're pretty much going to see this roaring cashflow straight away - but always remember to keep some in reserve for a rainy day (!).

Enjoy this classic clip and make sure that you ask somebody everyday to "show me the money".

Pathfinder to Success (HMO Mentoring)

Matthew Moody — Tue, 27 Jul 2010 16:46:34 +0000

Now available,

Pathfinder to Success

Millennia Properties Pathfinder to Success with HMO and property trading

Working with our team of mentors 1-2-1 basis is certainly one of the most effective ways of either starting to get your portfolio off the ground or, as an experienced investor, growing your existing portfolio and making a lot more from the portfolio that you already have.

Our consultants who have bought and sold over 100 properties and have secured option deals totalling more than £6 million are available to work with you now and have a number of ways of teaching you what you need from a price that suits you:

Base Camp	£199
Have a 90-minute conference call via phone or Web with Matthew Moody where he will work with you to create a strategic high-level plan that will take you forwards.

K2	£750
Spend a part day with Millennia and our team where we will assess your current situation and advise any changes that may be required before setting new goals with you, creating a viable business strategy for you to leave with.

Everest	£1500
Join Matthew and Kenny for a mind blowing day that will maximise your property investment strategy. Going beyond simple planning to incorporate financial property management with our Accounts team, splitting HMOs and much, much more.

Cashflow Secrets

Matthew Moody — Wed, 16 Dec 2009 12:09:34 +0000

2010 will be a tumultuous year for us and if you’re not prepared; you’ll end up a victim.

I already referred in my previous post (Jedi Wars 2010) how you need to be prepared for 2010 and the steps you can take to do this.

Sadly, most people will do nothing - and at the end of next year, they will wonder what happened to the past 12 months - and where they are going to go from there.

So, what cashflow secrets do you need to know so that you can win in 2010?

There are so many but the ones you need to focus on are the ones which are quick-wins.

This year, I've been delivering talks up and down the country and the one thing I've has noticed is that there are a lot of people out there that do not have the cashflow that they should have because of some fundamental issues with their business. If this rings a bell with you, then you’re in luck because my new report is going to change that for you.

Today sees the launch of my “10 Life Changing Cashflow Secrets” report where you’ll learn:

♦ the one forecast you absolutely must have...

♦ the four factors that will make or break your portfolio from Day One!

♦ how to increase your occupancy rates quickly and simply....

♦ how to identify your jedi and avoid the dark side...

♦ how to create specific systems for your business ...

And many other cashflow secrets that can make a huge difference to your business.

http://stanfordknight.com/cashflowsecrets.html

It’s a simple direct-to-the-point 30-page report which gives you the information you need to ensure that your business is generating cashflow month in and month out.

To be honest, the information that’s in this report is extremely valuable and I'm beginning to think that I'm crazy offering it out at the price I'm charging but the value you’re going to get is phenomenal.

This information has to be worth hundreds of pounds and I’d conservatively put a value on it of £97. But the price is nothing like that. Its actually a mindblowing £0.00

I've basically laid out for you the 10 key cashflow secrets that you need to take to get your property business on the right track towards long-term sustainable wealth…

http://stanfordknight.com/cashflowsecrets.html

2010 Jedi Wars

Matthew Moody — Fri, 11 Dec 2009 19:55:57 +0000

2010 will be a tumultuous year for us and if you’re not prepared; you’ll end up a victim.

In Star Wars; the reason the Jedi were wiped out is because they weren’t prepared! And your Jedi type will impact your future prosperity.

Experts such as Harrison, Kiyosaki and Trump are predicting the great depression of 2010; something none of us have ever experienced before.

So, what powers of the force do you need to win in 2010?

Force #1: Wealth profile
Just like the Jedi’s had teachers, diplomats, leaders, traders; you need to understand your wealth profile too.

You need to understand what your wealth profile is and how this differs to others in your team; then find the missing people to ensure you have a successful team – and not fail like 90% of other businesses.

There are two tools you need to understand what your wealth profile is.
1) Your Wealth Dynamics profile from world-renowned wealth creation specialist Roger Hamilton. In a very simple 15-20 minute online exercise, you can identify once and for all what your wealth profile is and what you need to do in order to build your wealth.

Get your Wealth Dynamics profile at http://tinyurl.com/wealthdynamic

2) Stanford Knight has identified 20 key competencies that a property business requires to operate at the optimum level. These have been collated through our years of experience in the property arena and are essential to ensuring that your property business succeeds. This is normally part of our acclaimed Strategic Needs Analysis consultation retailing at £197.00.

We’re going to give you free access to the Key Competency part of the SNA once you’ve completed your Wealth Dynamics profile. We can then drill down into exactly what help you need in 2010.

Once you’ve completed both of these tasks, you’ll know more about how you can generate wealth than 90% of the investors out there. Period.

Force #2: Business Systems
My speciality is in creating systems that work. And then fine-tuning them. And then making them even better. Unless you want another job, then this is the only way to create a long-term sustainable property business.

So, how do you go about making this work for you?

Simple, you use a Mechanic to design your Systems for you. If you’ve completed your Wealth Dynamics profile, you’ll understand what I mean. If you haven’t, then you won’t…

If you haven’t got a Mechanic in your team, then I suggest that you find one or outsource the system-building side of the business to specialists such as Stanford Knight.

If you want to try building your own system, then the first place to begin is with your organization chart. If you haven’t got one, then sketch out all the positions that would be required to run your business in 5 to 10 years from now.

Think about the different facets that make up a business:
• Marketing
• Systems
• Finance
• Information Technology
• Operations
• Human Resources

Create your organization plan and then slot everybody that is currently working in your organization into all of the slots. You may find that it’s a shock that you feature in a lot of the positions!

But now you’ve realised this, you can then create systems and processes that will assist you in creating a business that can run without you.

Force #3: Focus
Having the right plan comes from having your primary aim buttoned down. If you don’t know what your true purpose is on this planet, then try reading authors such as Michael E. Gerber, Timothy Ferris, Jack Canfield or Mark Victor Hansen for inspiration.

This is having your big dream down on paper; it’s understanding what you wish to be remembered for when you’re long gone. Take some time out to meditate and ponder upon this and identify exactly where you are going.

You’ll then be able to create a long-term 10-20 year master plan from this. Once you’ve completed this, then you can drill down into the detailed goals for this year.

This very detailed goal planning session allows you to then FOCUS on taking action and making these goals work for you. But what happens when your mind starts wondering, when life gets in the way and you find that you are not meeting your targets?

Generally, that’s because your primary aim is not congruent with your goals. You’ll probably find that you are not getting up in the morning raring to go and achieve something BIG today.

That’s why it’s so important to take the time out to identify your primary aim.

Force #4: Community
If you’ve identified your Wealth Profile, understand how your business needs to be structured and resonate with your Primary Aim, then you’re ready to go. Well done!

But how do you keep the momentum going when you’re out there on your own?

You basically need to be part of a larger community of like-minded people.
A community that will nurture encourage and support you. A community that will hold you accountable to your goals and help you when the going gets tough.

But this isn’t for everybody. This is only for people who are serious about achieving their goals. This is for people who can commit to a monthly meeting with people who will be looking out for your success as well as holding you to account. This is for people who want to carry on learning from top experts actually out there walking the walk and not just talking the talks. This is for people who want to develop their own personal Business Plan and actually see it delivered.

Launching nationally in 2010 is the Stanford Knight Wealth Association and this is your invite to join with us to create a sustainable long-term property business with established experts and support mechanism.

To apply for membership, go to http://stanfordknight.com/wealthassociation.html

As the great Yoda once said “Do or do not... there is no try.”

Obi-Wan Moody