£500 BOOKINGS EVERY NIGHT! (House With Hot Tub)
Hey everyone, what's up? My name is Samuel Leeds, your property guide. Today, I am so excited as I will be visiting one of my friend Patricia Kilty’s property deal. I have been following her on social media for so long. She took a lease option bootcamp of four weeks last May while staying in Canada but then she moved to Lake District to learn about property from me. She saw my videos and began her interest in property dealing so she decided to move here and then we met. Now let's see what deal she has made.
Patricia’s Property deal
I went to see Patricia’s property deal. She bought a house and converted it into a service accommodation. I asked her how much did you pay for the house and she said 335 grand. Although the house seemed quite big, the amount she told me was reasonable. The house contains five bedrooms which she turned into a six bedroom HMO as service accommodation. Let me tell you one thing, when she was buying this house she was very nervous and did a lot of research, talked to many of our mentors to get a clear view. We also discussed this property on the phone. We spent too much time on the phone to take out things.
What is Service Accommodation?
It is like buying a house or property and instead of renting out to one person you turned it into a service accommodation. It provides you an opportunity to rent out to multiple people and also your cash flow will also be doubled. Instead of one rent, you will be having several which is definitely beneficial. If the area is good, it attracts more people and it increases the demand. Basically, it will be a HMO property as it is converted into multiple rooms to serve as service accommodation.
Services And Interior
Now coming to the services you are offering to the people coming to your service accommodation hold so much importance. People want to avail what they spend, so they see what you are providing to them. When me and Patricia were talking on the phone discussing and estimating the amount that people might pay. Patricia thought that it would be around 250 to 300 pounds people would pay for her service accommodation per night. But she was wrong because people are paying 500 to 700 pounds a night. Oh my God! This is outstanding. It is definitely beyond her expectation.
Coming inside the house, I met Patricia's husband and he was a bit nervous talking on camera. So, I asked Patricia to tell me about the kitchen. She said the amazing thing about this house is that it’s already done and we didn’t do much refurbishment. This is the reason why we bought this house. It took only three months to renovate the whole property and meet the high standards for our guests. She showed me a downstairs room which is specifically designed for people who are in wheelchairs or have any issues so we took out the carpet and widened the door frame to give them more space. It’s kind of related to mobility concerns. This is really nice of her thinking about every person and their issues to provide the best services. Even their parking is very smooth and easy. The guests will not have any trouble in parking their cars.
They have also made a cinema room and the look is awesome. The children were watching their movie on a projector when we went there. Along with a cinema room there is a little attached video game room also. I was amazed to see how much entertainment she has set up for the guests.
I asked her if she wanted to refinance this property or not. She said she bought it for 335 grand and she will be getting commercial valuation and hoping to have a value about 500 grand so that she can take all the amount she invested in. She then recycles the amount into a next project. I think that’s a great idea, she is going good.
We then went upstairs to see my room where me and Amanda were staying as a guest. There are six bedrooms, in which one is on the ground floor while four on the first floor with two bathrooms and one in the loft. The profit she will be making after paying money to the sweepers or cleaners and channel managers is five grand a month and she is already fully booked for the months of July and August. Even the property has not finished with the renovation and she got booked. That’s superb. Me and Amanda were their first guests.
Patricia said that we have to meet the standards of our clients. We have to see what luxuries they need and we need to deliver them. If we cater them with all they want then they will surely come again and suggest to others as well. One thing they have also added to their hotel service is a hot tub which is a great attraction.
About Patricia and Mike
I asked Patrica and her husband Mike to share something about them like where they met. She told me that they met in Canada. Mike lived in Niagara falls while Patricia lived in a town called Oakville which is located outside of Toronto. It takes only two months to fall in love and within it, she went to England to meet Mike’s family and in a few years they got married.
She desperately wanted to be financially free while she was in Canada doing a job. She was really tired of working for hours and couldn’t have enough to have her own property. She started searching on Google where she came across my name and started watching my videos. She joined my training programs, mentorship and got connected with me. She appreciated my efforts in teaching her and said she could not have done this without my support. That’s really kind of her. She gave some love to her academy friends and appreciated the work of my academy.
Well this is it. It was a great time spending with a lovely couple who did a great property deal. This is a motivation for you all that don’t give up, just keep your mind focused, learn about the property and join my crash courses. You will surely be successful. Me and Amanda loved their service accommodation and I must say do come here and enjoy. I wish good luck to them. Hope you had fun watching the video. Stay connected with me by subscribing to my Youtube channel to get more property related stuff. See you in the next video. Bye!
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