McCrae & Co Property

04/05/2022

Check out our new Brochure ✅

12/01/2022

To ensure you can achieve above average rent, you need to ensure your rooms are above the average standard. You need to make your property stand out from the crowd and give your tennants value and reasons to choose your rooms over others. Following these simple tips can put your properties head and shoulders above 95% of the rooms you see on SpareRoom and Openrent.

22/11/2021

19/11/2021

Are you a HMO Landlord? Are you tired of Tennant and property management? Do you want your time back? Contact us today to see how we can help🙏🏼✅

15/11/2021

Contact us today to see how we can start making your HMO(‘s) work for you. We do the hard work so you don’t have to🤝

19/08/2021

R2R FAQ - Why would a landlord give you their property to manage?

This is a question that is asked a lot, usually when explaining R2R to someone with no previous knowledge of the strategy. R2R is a great option for some Landlords, especially when working with a great company. Here are some reasons why a Landlord would give you there property to manage.

Guaranteed Rent and peace of mind for a 3-5+ year period🔆
We offer Landlords a 3-5 year, fixed and guaranteed rent, even if our rooms go empty. This means within this full period they don’t have to deal with voids, late payment or inconsistent monthly income. This gives landlords full peace of mind regarding the income of there property, which can usually cause a lot of stress.

Landlords are busy people⏱
If you’re a HMO/House share landlord it can be stressful juggling the full management of your property, along with their life and potentially other properties they own. Everyone loves passive income! By handing the management and tenancy over to a R2R business like ours, it gives them freedom to focus on the things they want to be doing with peace of mind that they’re getting rent every month and their property is being looked after and maintained.

Tennant and voids cause hassle and stress❗️
Tennants can be a nightmare and having to deal with a number of them can not only be stressful, but also take up a lot of time. Furthermore, no one wants long void periods as they are costly. When we manage properties, we take on the full management of tennants, ensure they have been referenced/checked and only house professional tennants. We also give a guaranteed rent. So, even if we have voids, the landlord will still be paid. This is a huge relief for landlords as it saves them time, money and stress and gives them peace of mind that they’re property isn’t going to be trashed by nightmare tenants.

Providing a great service💎
If you are a busy and stressed house share landlord and are looking for a more of a passive investment then having a r2r business like ours manage your property can be the perfect solution. Through working with landlords and building a great relationships, we understand common problems, allowing us to know great solutions for them. We’re creating a great service that landlords can rely on. Not only this but it is a great service for tennants as all the properties we take on are dressed and maintained to a very high standard.

Ensuring they’re maximising returns💰
This is not the case with all R2R businesses however we can maximise rent by simply dressing the property and setting it up to a high standard. If you go on spare room 90% of the rooms are poorly presented and not somewhere I for one, would personally want to rent. By doing some light refurbishments and dressing the property well, it enables us to charge a higher than average room rate and therefore enabling us to give the landlord a higher rent.

Agents aren’t house share specialists🤦🏼
I can appreciate that some agents know what they’re doing when it comes to house shares but the large majority don’t have a clue and don’t actually fully manage them in a way Landlords want them to. You only need to look on rightmove to see the poor photos agents put up in dark, dingy and undressed rooms, how can they expect anyone to rent that out! Agents deal with 100’s of properties that are just numbers to them and only offer limited management, whereas R2R business like ours specialise in house shares and only work with a small amount of landlords, meaning the properties we do manage can be focused on and looked after correctly. Agents usually don’t tend to deal with the maintenance and Tennant calls which is a big reason landlord want management.

These are a few of the many reasons Landlords would want to hand the management of their house share over to a R2R business like ours. If you know of any house share landlords that could benefit from these services, get it touch!

It would be our pleasure to start making there lives easier and ensure they’re getting the most out of there investment🔆

16/07/2021

Estimating refurb cost

Take a builder with you - By far the best way to get a more accurate refurb cost, this way the builders can have a feel of the property and check how realistic/price effective you’re ideas may be. Furthermore, you can build a relationship with the builder, learn how they work and decide they’re someone you want in your team.👷🏼‍♂️
Speak to lots of builders and create a price list - You can do this through asking the price of certain things on average from they’re past experience past refurbs. Once you’ve done this with many builders in the area you can find an average cost of each job, this way you can go to many properties and estimate costs accurately.📝
Ask a builder to give you a rough quote through pictures - doing this will give you a rough cost however, without the builder seeing the property he won’t be able to price structural changes accurately. Furthermore, it’s hard to capture every part of the property and you may miss costly faults🤕
Ask other fellow investors - Investors are refurbishing properties all the time and have a wealth of information on them so feel free to ask people. There are so many helpful investors doing great things in property and offer so much value for free! 👥

15/06/2021

Single Let 🧍🏼‍♂️ vs Multi-Let🧍🏼‍♂️🧍🏽🧍🏼‍♀️

What’s the difference?
Single let is when you let a property under one tenancy, usually to one person, a couple or a family. Whereas, a multi-let is when you let one property out to a number of tenants as a HMO.

Single Let’s
A single let Property is ideal for someone looking for a simple to set up, risk adverse and low maintenance investment. Generally easier to find and lower cost to set up however they will give you a lower return and yield when comparing to a multi-let. Single let’s are definitely a way of building capital, however due to only returning on average between £200-£300 pcm, the cashflow you will achieve is not amazing, unless you build a large portfolio. On the other hand, if you find a property in a place with expected capital appreciation, although you may not get great cashflow pcm, you can make massive gains when refinancing or selling the property down the line when the value has increased.

Multi-Let’s
A multi-let property is generally a more hands on and investment with more elements involved. Due to a number of tenants, there are generally more costs in involved in the set up and running of the property including maintenance, void periods and compliance. Furthermore, they will require a lot more due-diligence when assessing wether the deals stacks as if the numbers don’t work or you cannot get tenants, you can lose a lot of money. Although, they may be slightly harder to set up and run than a single let, you can achieve a much higher cash flow pcm. I have seen HMO’s cash flowing over £1000+ and this is not rare. Unless you have a management team in place, HMO’s can be hard work, especially if you have a number of them. However, due to extra cashflow, HMO’s owners can afford to pay management teams who can make them into fairly passive investments.

12/05/2021

1. Pre-qualify your offers. Ask the vendor’s position. Are they motivated, are they willing to take a lower offer which would make or break the deal? There’s no point viewing a property listed for £100,000 knowing that it would only stack up if you could get an offer accepted at £80,000 if the vendor isn’t willing to take offers lower than asking. Do your due-diligence before viewing so that you don’t waste time offending vendors and wasting your own time and the time of agents.
2. Spend time on money making activities over the easier things. For example, don’t spend hours and hours creating content for social media, although this builds your brand, at the beginning you need to be focussing on doing deals. Showing your audience the deals you’ve done is a lot more trustworthy than an Instagram post on some property tips in my opinion. Pick up the phone and view some properties!
3. Follow up your offers and build relationships. Some of the best deals can be found through building relationships and if you don’t keep on top of them, they will fade and you will lose time and opportunities.
4. Get educated so that you don’t make time consuming mistakes. This a simple and obvious one but you can’t cut corners when learning about property, get educated and be confident in what you’re going to do before doing it.
5. Just get on and do it. Lots of us are guilty of procrastinating, and it’s natural for us to do so. However, you’re not going to get results and find the best deals if your not actively getting yourself out there and finding properties.

Here are just a few of the ways we save time. Feel free to comment below how you do, would be great to hear them.

12/04/2021

A few ways you can save time searching for property deals⏳🏡🔥
1. Pre-qualify your offers. Ask the vendor’s position. Are they motivated, are they willing to take a lower offer which would make or break the deal? There’s no point viewing a property listed for £100,000 knowing that it would only stack up if you could get an offer accepted at £80,000 if the vendor isn’t willing to take offers lower than asking. Do your due-diligence before viewing so that you don’t waste time offending vendors and wasting your own time and the time of agents.
2. Spend time on money making activities over the easier things. For example, don’t spend hours and hours creating content for social media, although this builds your brand, at the beginning you need to be focussing on doing deals. Showing your audience the deals you’ve done is a lot more trustworthy than an Instagram post on some property tips in my opinion. Pick up the phone and view some properties!
3. Follow up your offers and build relationships. Some of the best deals can be found through building relationships and if you don’t keep on top of them, they will fade and you will lose time and opportunities.
4. Get educated so that you don’t make time consuming mistakes. This a simple and obvious one but you can’t cut corners when learning about property, get educated and be confident in what you’re going to do before doing it.
5. Just get on and do it. Lots of us are guilty of procrastinating, and it’s natural for us to do so. However, you’re not going to get results and find the best deals if your not actively getting yourself out there and finding properties.

Here are a few ways you can save time searching for properties, would love to hear ways you guys do to🔥