Is Serviced Accommodation worth the hassle? | Property
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- čas přidán 5. 07. 2024
- Is serviced accommodation worth the hassle? I've been in property investing for over 10 years and I've tried a lot of tactics with property investment and Serviced Accommodation is one of them. It is becoming more and more common people getting into serviced accommodation. If you're thinking about getting into property investment and more importantly interested in getting a Serviced Accommodation then you NEED to watch this video. I'm going to help you work out if Serviced Accommodation is worth the hassle or not!
If you want me to answer any questions regarding to property investing or business or anything then please let me know in the comments below.
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"This is a sad house." *Draws a smile on the house.* I love this guy. Lol
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Awesome content! Love your wicked sense of humour and straight, No BS talk. Very helpful! 👍👍👍👍👍👍👍
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Excellent and informative presentation Jamie. Keep on making videos.
Thank you for all the honest accurate info Jamie. Great channel, been watching you for a while. Loving the content and the humour. :)
Thanks for taking the time to explain and uploading Jamie, you have been great help ⭐️✨
You are so welcome!
@@JamieYork
Hi Jamie, I think the reason it's attractive to newbies like myself is it makes doing BTL more cost efficient if you live in an expensive part of the country like me in the south east.
Yes you can buy houses way up north for nothing in comparison, but being a newbie I would like to be able to get to the house easily if i needed to or do work on it easily during voids.
Do you think serviced accommodation is the best way to go if you want to keep your BTL nearby-ish in an expensive area and stay cost efficient?
This is such an informative video. You are gem within the property community. Thank you!
Aw thanks :)
Super informative - and nice to have some UK specific content - keep it up please! 🤝
Thanks for the advice, Jamie. Keep up the good work.
Thanks mate. Really hope it helps!
Great presentation Jamie, certainly confirmed my concerns re P&L and grief! 👍
Thanks :)
How about, gas electric, water, council tax, internet, cable TV and refreshments on service accommodation.
Jamie please do not ever change. Stay honest and straightforward as you are. Too many scammers in this business. They are for the most part crooks. Jamie please keep 🙏up the good honest work it will repay you in the long run. Bless
Thankyou for the kind words! I'll always be straight to the point! Nothing to worry about there!!
@@JamieYork can you make an updated version of SA pls?
Great to see someone warning Léopold about leaseholds & mortgages challenges . So many so called educators bullshit their way around these topics just to sell you their overpriced SA courses 😂
Haha, I like to do my best!
Thank you. Great info!
extremely thorough. brill. hopefully chat tomorrow on our first webinar! cheers
Fantastic!
great video i have been looking at buying a few serviced accommodation places or starting to do one with rent to rent but a lot of landlords want you to sign up to a 3 year deal i may just buy one of my own and see how i get on if it don't work i will just let it out long term
Hi Jamie, love your channel! Could you make a video on R2R properties?
Thanks Jamie, really appreciate this. I will still learn more about SA but for now I'm on the right path with BTL's. 😋
Great to hear! Do whatever works best for you!
Brilliant mate
Another great video Jamie, bit disappointed you didn’t draw a picture of the van! Question please, can you do BTL’s and SA’s from the same ltd company? (Obviously with the correct contracts/mortgage for each property). Thanks. I have also just subscribed!
Haha, next time! You can indeed, just make sure you've got a great management agent in place!
Fantastic video- I know an investor who has a number of SAs he has agreements with companies to provide accommodation for professionals for 3-6months etc. Similar to the contractor model but longer term. Great video again! Really interested in understanding more about your deal packaging operations. Happy to chat.
Thanks Joseph. I'll add to do a video about my operations!
@@JamieYork - Thanks, Jamie.
Hey what sort of professionals ? Just asking as I am starting my own SA journey and definitely need some tips and tricks as from research and this video it can be risky with the areas and finding customers, how did your friend go about finding his source
Good video bro. Any guy who actually explains almost everything. Much better than Samuel Leeds who people believe but tells them the most vague things. SA also costs you utilities bills and council tax. When that’s factored in its peanuts for the extra effort and risk. I’ve done and will never do again. Keep up the great work
Ben, Thanks for your kind words. I always think it's better to know all the information before doing anything
Brilliant video
Thanks Jimmy! Glad you got some value!
Great video
I’ve started deal packaging but I live south London /Kent and the prices are very high so struggling to find deals to add value and serviced acc seems like you say alit off risk
Thanks very helpful
Great Video, I Just want to clarify and apologies if I have missed it, you have not mentioned bills? I believe as an owner that comes to us and is a cost as well. your thoughts, please. Thansk
The one thing not mentioned is the utility bills. With a normal single let the tenant pays them. With S/A the landlord pays them.... and also the council tax. This is more of an issue now as gas and electricity prices are rocketing. Thoughts ???
ANOTHER GREAT INSIGHT ON SA. I HAVE WASTED YEAR AND HALF ON SA RESEARCH AND MAKING IT WORK AND ALSO AQUIRING WHICH IS NOT EASY AT ALL. CHANGED MY STRATEGY TO BRRR NOW AFTER THE PANDEMIC HIT. THANKS JAMIE.
Thanks mate. Glad you got value!
I think this is worth doing if you have a big house in a good central area that cannot afford direct rent or hmo license. Room by room sa is probably worth doi g as it's similar to hmo.
I got 10k taken off me from TS education……
For S.A models and more saying if I could not make my money back with in 6 months with what they give me it’s a full money back guarantee….. 🤔
Guess what you never see your money again….
You are left feeling it’s your fault as the modules they give you can be very over whelming….
Bit like Reading a book on how to build a house then told to build on yourself.📕🤔
All people learn in different ways and sometimes education is a two way thing instead of a sells pitch…
Stay away from people who promises you the world but only really in it for them self.
Great video Jamie like always.
Education should be free I’ve learnt that the hard sorry to say.
Hey Tony, it’s a mixed bag to be honest. I try to give as much away for free but also have programs that took me thousands of hours to put together so I too believe in investing with yourself. BUT, it should be mutually beneficial for the client of course 💪❤️
Glad you like the videos :)
Great video
Thanks!
awesome vid
Thanks Jamie, one video that helped me cross this off my list
No worries, Harsh! Glad you got some value :)
I have signed up for EPTA starting 31st May so waiting for more knowledge before going for it fully
Forgot to factor in council tax and gas/elec and Wifi bills 😅
Bills bills bills!
Thanks for the advice, SA one for the bargepole only methinks.
Completely depends. Some people really manage to make it work for them. For me, I just like it as boring as possible
You are good Jamie, thanks for all the education, can i leave APG here
Thanks! Go to www.aspirepropertygroup.co.uk and fill in your details :)
I know you have based this video on a 2 bed flat, but I have a 7 bedroom house and have considered letting out as an SA for multi-generational holiday let. Do the figures differ for larger properties?
Yes they do! Usually less ROCE
Who would you recommend for a SA course based in UK?
To add SA in a house or flat breaks planning permission law, building control fire laws, council tax laws, usually insurnace policy, usually mortgage policy, and tenancy / lease or freehold agreements. Too risky if there a fire , gas leak or theft etc. Nearly everyone I know ignores this. So 100% no money in it if it’s done properly.
All these to consider as well! Thanks Ben
Can SAs can be held by a SSAS and possibly claim Capital Allowances? Might make them more attractive if they can?
Capital allowance claims - yes! Hmmmm, I THINK SSAS may be an option. Hotels definitely can do if you get the planning change I see no reason
Jamie, can you recommend the best SA courses in the UK, more so relevant to Scotland? Thanks
They're all pretty good! It's finding the one that suits your learning style too!
dear jamie in £675 you have not deducted 15% air b n b cost. and council tax or business rates .?
What about those tenants that don't pay??
Great video... Can you message me recommending managing companies. Thanks
Didn’t take long for all the scammers to take over your comments 😂 Might want to put a warning pinned in the comments so people don’t fall for them.
Haha, I know right! I keep trying to just report the spam
@samuel Leeds can u make a video like this?
No doubt he’ll have knowledge around this, or one of his team will 😊
what about council tax or small business tax ,,,if you rent you don't pay gas electric water or council tax
What about Gas electricity council tax water rates
Depends on how you wish to pay/set it up
Hi Jamie, what is the best way to get a hold of you?
Instagram @jamieyorkoffical
I think you forgot to take into account bills and council tax...
Its a rough estimate mate 👍
when you buy a flat on BLT the lease knows you are renting the flat so I do not see vans issue here.I have a friend who is making £2k a month and rent out for 6 months. serviced accommodation is way better than monthly rent.I have seen landlord who's tenant trashed his house after their tenancy. It's on tv program so both SA and monthly rent got their pros and cons simple
It would come under holiday let or short let’s which most lease packs prohibit unfortunately
Flats in Scotland are freehold
Are you sure?!
Hi Jamie. I saw on Rightmove a hotel room (investment) for sale. It looks interesting, but I don't know about it. On face value, it sounds like a more hassle free version of service accommodation. Do you know anyone who has invested in this? Would you be able to do a video on this?
Would also be very interested in this. I've seen one too.
Your video comparing the two didn't factor in utilities .. IE air BnB Yiu will pay for the utilities all the time which will cost stupid money especially in the dead times whereas renting the whole flat , the tennant pays so yiur 600 profit will get swallowed up to the point where it's pointless especially if Yiur not in the best area
So you saying my first invesment be 150k with returns like 700£ a month from rent ? Why cant i buy a lik house or a flat for 40-50k as my first invesment and get a few like these and rent them out for 350-400£ a month for new investors how am i supposed to save 150k its stupid explain
You use mortgages to leverage El. 50k properties are okay but most have poor growth and poor tenant profiles. Typically a slightly higher purchase price areas attractive higher profiles and growth. Hope this helps explaib
@@JamieYork i live in a little flat for 4 years and caused no troubles to the owner so idk why you think we are bad tenants.
What about Electric, Gas and Council Tax costs. ?? you forgot them. if you pay for these then there will be no profit.
Hiya Jamie, have to agree and disagree with the video, due diligence and numbers are so important and the example you put up I wouldn't take it on, some real life examples would of been better, yes it is hard however a great deal sourcer would have all those answers, would introduce you to all the right people and systems required. SA is not for everyone but can be done by anyone, you don't need 25% deposits, you need to to do research, talk to the right people and complete your due diligence which I will repeat repeat repeat, speak soon nick vint
Nick, you are right. I know many people who get SA's right but I just don't think they are quite right for me
Hmm... You can do the math and write on your board... and you’ve done a bit of research ... but it really doesn’t sound like you have experience here. You’ve not been able to give any real live examples. I manage my own holiday lets remotely and I’m 4 hours away and I also have BTLs and demanding full time job and I wouldn’t present it the way you do. It’s superficial information and doesn’t sound like you’ve done it yourself 🤨
If you knew your stuff you would know that you can’t do a 3 month holiday let then a 9 month SHT as not allowed to mix with mortgage.
Thanks for the comment. Just my opinion on the matter and yes I do actually like SA in the right situation, just not how most people do it. Also I never said about using mortgage lending for it. There are a couple of lenders available or people and hold on cash if they wish.
It’s definitely not my chosen strategy but it definitely has its place. I just prefer the vanilla and boring 😂
The problem with contractors is they turn-up in vans !!!!
VANS !!!!
Do you really want vans all over the street?
The neighbours would love it (NOT) !!!!
Sorry, I genuinely don’t get what the issue would be with a couple of vans on the street. Never had a neighbour get annoyed with that
Knew samuel leeds was a fake guru as he promotes rent to SA
Simple answer...No
Or yes 🙌 haha, it depends on where you’re at in your investment journey and your current education levels. There’s plenty of money to be made from them if they’re done in the right way
@@JamieYork personally I don't like them. Market is oversaturated with them, they require too much active management for the ROI.
Hotels getting wise to SA’s now and offering better rates. I know where I would rather be.