Multiple Income Streams From Property Revealed – How To Set Up A Passive Income Generating Letting Agency

If I asked you to name me ten different ways to generate an income from owning or controlling properties, could you do it?

In this climate it is very important to focus on generating multiple income streams from lots of different sources to protect yourself as much as possible from loss of income from your main job or business.

Something that you may have noticed all the serious property investors doing (30 properties or more) is that many of them set up their own letting agency to manage their own properties and those of others… Over time this turns into a very stable long term income stream not to mention the many other benefits, for example knowing what types of property are in very high demand and who the best tenants are (you would then buy your own properties in the best areas and let them to the best tenants).

The audio you are about to listen to is from a Tycoon Mastermind Alliance field trip – on this field trip around twenty Tycoon Mastermind Alliance members visited my friend Hanif’s letting agency in Yardley, Birmingham. Hanif is an experienced property investor who helps me coach my Tycoon Mastermind Alliance coaching program members. He runs a chain of letting agencies in Birmingham (in total his letting agencies manage over 400 properties). He kindly spent the whole day with Tycoon Mastermind Alliance members teaching us how to set up our own successful letting agencies.

If you want to learn how to generate a lucrative and stable income stream from running your own letting agency then listen to this audio. Hanif and his team answered many of our questions on the day including:

• Why do tradespeople often get complacent and what do you need to do about it?

• At what point do you need to start hiring more people to manage your portfolio – 20 properties, 50 properties or 100+ properties?

• What is the management structure of a successful letting agency?

• How should you incentivise your letting agency staff for top performance?

• How often do you need to visit your properties – every 3 months, 6 months or 12 months?

• Why should you specify at the beginning of the tenancy that all items of furniture are returned back to their original places?

• Is it a good idea to take commissions from contractors for passing them a lot of business?

Enjoy!

Please note, this audio is a small sample of the Tycoon Mastermind Alliance field trip. The full audio is available for the Tycoon Mastermind Alliance members of the Property Tycoons Community to download from here. If you are not already a member Tycoon Mastermind Alliance of the Property Tycoons Community you can learn about the huge range of benefits here.

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