Today, Helen and I are joined on the show by Jacquie Edwards a.k.a Property Go-To Girl, or as Helen describes her, ‘the doyenne of Rent to Rent’. I did have to look up the word doyenne, as Helen has a much wider vocabulary than I do and found that it means ‘the most respected or prominent woman in a particular field’. So, there you go then…we have perhaps the most prominent and respected women in Rent to Rent to share with us today!
Jacquie was a very humble and down-to-earth guest, who was extremely transparent about the highs and lows of how she got started and then established in property. It was refreshing to hear that all was not plain-sailing, some tears were shed along the way and that she overcame not knowing what she was doing through sheer determination, focus and a willingness to learn from her mistakes.
Podcast: Play in new window | Download
Resources mentioned
Property Deal Tips & How to Reach me By Telephone
Link to the Podcast feedback survey
Contact Jacquie Edwards:
Websites https://www.renttorentacademy.co.uk/ & http://www.propertygotogirl.co.uk/
Also, maybe check out her books on Amazon: Rent to Rent: Getting Started Guide & Rent to Rent: Your Questions Answered
Today’s must do’s
Subscribe to and review the show in iTunes…and while you are at it please help us to spread the word by telling all your friends too!
Send in your property stories, questions or moans to podcast@thepropertyvoice.net and we will try and feature YOU on the show too!
#PropTech: A guide to how property technology is changing how we live, work and invest – a link to the latest book.
Property Investor Toolkit – here is the book link on amazon.co.uk & amazon.com in case you would like to get yourself a copy to accompany this series
Get talking!
Join in the discussion, either here in the comments section below, or by emailing us at podcast@thepropertyvoice.net
Start a conversation on Twitter with us @PropertyVoiceUK or on our Facebook page
Transcription of the show
Hello, and welcome to another episode of The Property Voice podcast. My name is Richard Brown and as always, it’s a pleasure to have you join me on the show again today.
Today, Helen and I are joined on the show by Jacquie Edwards a.k.a Property Go-To Girl, or as Helen describes her, ‘the doyenne of Rent to Rent’. I did have to look up the word doyenne, as Helen has a much wider vocabulary than I do and found that it means ‘the most respected or prominent woman in a particular field’. So, there you go then…we have perhaps the most prominent and respected women in Rent to Rent to share with us today!
Jacquie was a very humble and down-to-earth guest, who was extremely transparent about the highs and lows of how she got started and then established in property. It was refreshing to hear that all was not plain-sailing, some tears were shed along the way and that she overcame not knowing what she was doing through sheer determination, focus and a willingness to learn from her mistakes.
Property Chatter
Discussion between Jacquie, Richard & Helen.
Originally from Michigan, USA moved to the UK in 2012 and about to get British citizenship. Formerly worked in a large accounting consulting firm, then started looking around for an alternative career, eventually found property.
Based in Oxford, considered the Doyenne of Rent-to-Renters, although tried a LOT of different strategies within 2 hours of home. However, after six months chasing everything and anything, found that she had nothing to show for her efforts. Realised that she should have a plan of what she should accomplish.
Determined that she wanted to quit work, so it was a cashflow strategy that was important. The main cashflow strategy at that time was HMOs, but in Oxford really expensive and would struggle to get a mortgage due to a lack of experience. Considered JVs but without a track record, was difficult. Finally, determined that R2R HMOs in Oxford was the area to focus on.
3,000 hand written letters to landlords, slowly building momentum. Getting out there, making mistakes, feeling silly until she got her first property. Started to pick up after that first deal came through.
Starting in an Article 4 area sounds a little counter-intuitive, but in fact it provided a readymade marketing list and stock to target to convert into a professional HMO, rather than a shabby student HMO.
Highs and lows
Having to learn so many new things, so quickly. Everything was so new! Felt constantly outside of comfort zone, every day was an opportunity to learn something new. Felt a little silly at times but pressed on anyway. Eventually, everything wasn’t new anymore.
It didn’t go well initially, but after each meeting Jacquie reflected and asked herself what went well and how she could make it go differently next time. Then, she applied the learning to improve for the next time.
You don’t need everybody to tell you yes…just find the odd ones that you can help, add value to and will say yes to you. It’s not easy and it doesn’t happen overnight, it takes a lot effort.
Systems – background as a systems accountant helped to ensure she implemented systems in her own business. Referencing, viewings, analyse a deal, etc.
Mindset – dealing with no’s was stressful and there were tears in the beginning. Didn’t want to be an accountant for the rest of my life, I had an end goal of freedom and lifestyle, which was a motivator. Partner was very supportive, gave feedback and helped to open up the thinking to new ways of thinking. Essentially though, it was the focus of what you are doing it for…it’s not the money, it’s what it represents that keeps you going. Find a deeper goal that gets you motivated.
Successes & mishaps
Success – knowing how many people have reached and helped, within the business, the landlords have helped, and the tenants have found a good quality home for. Gained financial freedom but also able to give back to others too.
Mishaps – the odd miserable tenants that feel automatically against you no matter what. Then, put it into perspective as have over 100 happy tenants to counter this with.
Principles & values
Win-win situations – like to make sure everyone gets something out of the deal.
Freedom and flexibility – love to do what I want, whenever I want and work from home…but equally, like to be able to pass this onto her team as well.
Happy tenants/customers – do a monthly survey to check they are happy and contented.
State of the market & direction and impact onto R2R
Many of Jacquie’s landlords have not been massively affected. Many in it for long-term capital growth and so many of the changes have not affected them that much. Some only have 1-2 properties and other have no mortgage either. This is interesting as it suggests the target market for R2R should be similar landlords rather than distressed, highly leveraged landlords.
Jacquie’s future strategic direction
R2R was phase one strategy. Phase two is to buy properties, so looking to add more owned properties to the portfolio. Took an option on on R2R and also bought two HMOs in Swindon, plus another buy out from an existing landlord.
Feeling that we are at the top of the market, so saving cash to buy after a bit of a correction.
Bought a piece of land in the Oxfordshire countryside to build a farm as a lifestyle choice.
Tips and advice
Focus on a key strategy. For women, know you can do this and go with the flow of it. Also, women are able to perhaps take more issues in their stride at times as well, so it can in some ways be very suited to women in dealing with multiple issues that can arise.
If you had to start again would you do it the same way? Get a business plan straight away and focus on the right strategy that works for you.
We really enjoyed our chat and if you want to connect with Jacquie try one of her websites: https://www.renttorentacademy.co.uk/ http://www.propertygotogirl.co.uk/ Also, maybe check out her books on Amazon: Rent to Rent: Getting Started Guide & Rent to Rent: Your Questions Answered
OK, so that’s all for this week. If you want to talk about anything from today’s show, or just talk property investing more generally, email me or Helen at podcast@thepropertyvoice.net, I would be happy to hear from you! The show notes can be found at our website www.thepropertyvoice.net
All that is left to say, is thank you very much for listening once again this week and until next time on The Property Voice Podcast…it’s ciao-ciao.