Another video that would be really helpful is any insight around the legal aspects. What documents you send an investor and what documents you send to a vendor and how that part of the process works? Seems really difficult to get any detail on that anywhere on UA-cam.
Now in the North West originally Southampton and New Forest know your area well. If you are looking up here let me know lots going on. Thank you for the links very helpful content.
A good video idea for a video would be in regards to the figures part in R2R - for your proposal to the landlord. Would be good to understand costs for furnishing, painting, labour, dressing etc And how much profit u like to make on each room/property. How much to set aside for voids, maintenance Etc etc
Nice one appreciate the info helps when getting started, one thing I would say though is how much is it going to cost to get fully compliant esp when starting out e.g. people with limited funds how do we get the ball rolling lads?
Good video guys! But the 4 steps you have described are just the beginning and not anywhere near enough to be compliant. For example, with Anti-Money Laundering, HMRC require that every deal sourcer (who are considered Estate Agents) have detailed processes and documents in place. This includes doing documented thorough due diligence on investors (where have the funds come from, can they prove it, check the investor's address and ID, take a verified copy of their password or driving licence etc). Doing this properly and compliantly is quite a lot of work, however, HMRC audit deal sourcers and there is a particular focus on the property industry.
Cheers lads. If you already own a R2R HMO company can you use the insurances that are already on your R2R HMO company? or do you need to set up a seperate sourcing company with all the insurances you have just mentioned? Thanks
What's going on boys, firstable congrat on 2k subs and monetising videos on YT. I was thinking of buying your course R2HMO COURSE for 500£, just wondering if it all up and running and up to date with the current environment (covid and all). Also am in Scotland, would the program still work? Keep up the great work Nick
Yes mate the course is only £500 until midnight though will be back to £699 in the morning. We made it a month ago so yes up to date and as long as your near a large town or city. Hour drive max.
When you say register for anti money laundering. Where exactly are you meant to do that. The HMRC lists a bunch of sites for other industries and not property. A little stuck. Also about to read Tina Walsh's book
Searched for a while to find a video that lays this out simply, not many have done it. This is a great, very helpful video. Thanks guys👍🏻
Glad it was helpful!
Another video that would be really helpful is any insight around the legal aspects. What documents you send an investor and what documents you send to a vendor and how that part of the process works? Seems really difficult to get any detail on that anywhere on UA-cam.
Now in the North West originally Southampton and New Forest know your area well. If you are looking up here let me know lots going on. Thank you for the links very helpful content.
Perfectly described every. Amazing guys
A good video idea for a video would be in regards to the figures part in R2R - for your proposal to the landlord.
Would be good to understand costs for furnishing, painting, labour, dressing etc
And how much profit u like to make on each room/property.
How much to set aside for voids, maintenance Etc etc
Great idea thank you
could you u do a video on deal sourcing contracts like explaing important clauses etc . great video btw
What is the best SIC code for a deal sourcing company?
Always the best content! 👌🏻
Thank you bro 👊
Thanks, how much amount is needed for professional indemnity, there are different amounts
You lot are legends, thank you so much for this video. This video has helped me out big time 💯
Nice one appreciate the info helps when getting started, one thing I would say though is how much is it going to cost to get fully compliant esp when starting out e.g. people with limited funds how do we get the ball rolling lads?
Good video guys! But the 4 steps you have described are just the beginning and not anywhere near enough to be compliant.
For example, with Anti-Money Laundering, HMRC require that every deal sourcer (who are considered Estate Agents) have detailed processes and documents in place. This includes doing documented thorough due diligence on investors (where have the funds come from, can they prove it, check the investor's address and ID, take a verified copy of their password or driving licence etc).
Doing this properly and compliantly is quite a lot of work, however, HMRC audit deal sourcers and there is a particular focus on the property industry.
Yes the video was meant to be just a quick main things to get in place but definitely agree, the best book I’ve read on this Tina Walsh’s book
Wouldnt insurance be one of the last things you do, not the first?
I’m thinking about doing this so thank you very much guys.. are you offering any mentorship?
Yes we do shout us on Instagram @fontainebrothers
Thanks for the vid, do you need public liability for when you take clients to view the vendors property?
Thank you very useful 😊
is this the same as getting cepap? id appreciate a reply. Thank you
Cheers lads. If you already own a R2R HMO company can you use the insurances that are already on your R2R HMO company? or do you need to set up a seperate sourcing company with all the insurances you have just mentioned? Thanks
Yes you can mate. Just get the correct sic codes in the company
Now we hav one step called PIMS 🔥✨️
the HMO deals you fellas get are they already done? or are they deals that can be made into HMO?
Yeh man already licensed
What's going on boys, firstable congrat on 2k subs and monetising videos on YT.
I was thinking of buying your course R2HMO COURSE for 500£, just wondering if it all up and running and up to date with the current environment (covid and all). Also am in Scotland, would the program still work?
Keep up the great work
Nick
Yes mate the course is only £500 until midnight though will be back to £699 in the morning. We made it a month ago so yes up to date and as long as your near a large town or city. Hour drive max.
When you say register for anti money laundering. Where exactly are you meant to do that. The HMRC lists a bunch of sites for other industries and not property. A little stuck. Also about to read Tina Walsh's book
AML is the kicker, I’m struggling to work it out
Cheers Guy's
No problem
Can you still do deals without compliance?