Lockdown Vision To Substantial R2RSA Passive Property Income
Nadia Fachikova, like many people, had her life impacted by the Covid-19 pandemic.
While she appreciated the time spent with her family, it also made her think about her financial strategy. This led her to Abi and Paul at Touchstone Education and dreaming of £10,000+ a year passive income through property.
We spoke to Nadia to find out more…
From Lockdown To Mastermind
Nadia explained that the lifestyle change during the pandemic kick-started her property journey:
“I was a complete newbie to property,” Nadia said, “and I was looking at different business strategies and I appreciated all the time I had to spend with my kids when working from home – when I came across Paul Smith’s and Abi Hookway’s videos on Facebook.
“A few webinars later and attending the 2-day Wealth Through Property event really opened my eyes to all the opportunities in property, which could allow you to have the financial and time freedom I was looking for. So I joined the Mastermind program at the end of August.
“I spent my first few months going through all the courses and strategies, and I was working on getting a 2nd charge mortgage on my home in London, so that I could release some cash to start my property journey.”
R2RSA, Refurbishment and Relationship
“My first Rent to Rent Serviced Accommodation (R2RSA) contract was signed on 5th December 2022.
“The property required some refurbishment work, but luckily the landlord agreed to give me a 2.5 months rent free period so we could get the property to the desired standard.
“I’m very happy with the total transformation and design of the property.”
Prime Location and Predicted Profits
“During refurbishment unfortunately my management company found other areas that needed attention, so I had to spend £560 more on maintenance,” Nadia added. “The washing machine needed replacing so I paid £360 more for a new one, even though white goods were supposed to be in my contract.
“Plus, I didn’t know that previous tenants had left old furniture, which I had to pay to be removed by my management company for another £320.
“The landlord was not willing to extend my rent free period (unfortunately), so my advice for anyone starting in R2RSA is to have an extra cash buffer for any unexpected expenses, especially at the beginning.
“The property is now listed on Airbnb and I am waiting for the Bookings.com listing to be approved and looking forward to the first bookings and expecting direct bookings as well, as the area is quite good for contractors.
“I’m expecting to receive an average £850 net profit a month which should pay back the extra mortgage payments I need to cover on my house.”
What Can Touchstone Education
Do For You?
If you're inspired by Nadia's journey and would like to learn more about starting your own Serviced Accommodation portfolio, Paul Smith’s Serviced Accommodation Success Manual includes all the tools you need to start building your serviced accommodation portfolio. And, we’re giving you a copy for nothing!
Don't wait for tomorrow to build the life you've always dreamed of. Start today, and let us guide you every step of the way. Your future self will thank you.
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