Understanding Property Management | Property investing for beginners

Understanding Property Management | Property investing for beginners | Jamie York

Рет қаралды 48,790

3 жыл бұрын

What do you know about property management? Are considering getting into property management or do you want to get in to property investing and think "I have to manage this property now I've bought it?"
In this video I'm breakdown everything that you need to know about property management and letting agents so you don't need to research it yourself. I've been investing property for over 10 years and I've made all the mistakes so you don't need to! I've use property management companies and letting agents AND managed my properties in house. So what should you do?
Want to learn more about property and how to get into the property industry then make sure you subscribe to the Jamie York Channel to not miss the latest videos about property, entrepreneurship, and business.
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Пікірлер: 69

@cpage187 3 жыл бұрын

Great video. I'm 21 and am managing to save about 4,000 a month. I'm close to buying my first property and these videos have been very helpful.

@JamieYork 3 жыл бұрын

That’s amazing. Well done for doing that at just 21! What is it you do? Really glad you’re getting value from the videos!

@cpage187 3 жыл бұрын

@@JamieYork I'm a full time tutor online. I've managed to build up to about 45 hours a week, about half of which at 25 pounds an hour - others in the range of 15-20 per hour.

@davidirizarry6216 2 жыл бұрын

Have you bought a property?

@ola.6969 5 ай бұрын

Hi Jamie. Love your channel, it's so informative - thank you. Could you make a step by step video on how to start your own property management company in the uk?

@anthonyed7145 2 жыл бұрын

Just started watching KZfaq and you got a brilliant channel with your content. Love it. Keep it up 👍

@Mrslovetomatoes 2 жыл бұрын

Wow! So much valuable information. It's a gold mine. Thank you Jamie! 👏👏👏

@JamieYork 2 жыл бұрын

My pleasure!

@paulbine3297 3 жыл бұрын

Jamie never disappoints!! Great video and great perspective. Especially the systematic approaches on how to look at property management as a whole. I think you deserve an oscar mate, nice one!

@JamieYork 3 жыл бұрын

No acting was performed in the making of this video!!

@paulbine3297 3 жыл бұрын

@@JamieYork 😂😂 top guy!

@donaldmorrison9940 2 жыл бұрын

Really interesting. I’m planning to start a property management company soon - I’m a landlord and there are no PMCs in my area - so it was well worth hearing your perspective as a client.

@grisa12345 Жыл бұрын

What area?

@donaldmorrison9940 Жыл бұрын

@@grisa12345 the Outer Hebrides. Happy to say that I took the leap and started one

@TheFakeyCakeMaker Жыл бұрын

@@donaldmorrison9940 well done mate! wishing you well

@XtremeGamerps4 Жыл бұрын

@@donaldmorrison9940 how is it going so far? managed to find clients?

@Adzdaboy 5 ай бұрын

Are you so sure? if there are estate agents in your area they typically offer property management as an additional service. I recommend you do some market research first.

@tubrepairco 7 ай бұрын

Thanks for the video!!

@alexbairstow6728 3 жыл бұрын

Great video Jamie!

@JamieYork 3 жыл бұрын

Legend!

@fmcCMF739 3 жыл бұрын

Been watching your videos for a good while now, Jamie. Keep up the good content - discussing the finer details as you do is very beneficial. I have just turned 24 and am looking to kickstart my property journey this year as well as buy my first residential. Great video.

@JamieYork 3 жыл бұрын

Glad you like them! I look forward to hearing about your journey!

@leejones1078 3 жыл бұрын

Quality video once again. Love how you present the different options! I have 2 mortgage properties (live in one and rent out the other) and want to push forward into a third. You have spoke about buffers a couple of times and wondering how to structure my buffers before getting the third property. eg three months rent and bills per property?

@JamieYork 3 жыл бұрын

Thanks mate! Glad you got value. I really like to have 6 months of costa in a separate account to make sure I’m best protected which works really well for me. Hope it does for you too!

@raselalam2556 2 жыл бұрын

Thank you very much

@JamieYork 2 жыл бұрын

Thank you!

@mrgladstone4044 2 ай бұрын

As a landlord of 40yrs age 70 + I had to clear the biggest toilet block of all time, I have all the kit but was not needed it was just a case of scooping out and bagging the massive stools. The tenant sat in the living room, they had only just moved in overnight. 'All done' in a few mins. Point being what plumber with an agency would attend straight after the embarrassed phone call and not billed for it. While undertaking the task I kept thinking of the BBC Mandy comedy shit burg episobde and got the giggles.

@hemadavay7692 3 жыл бұрын

Thanks Jaimie the content is great! I am starting my journey too. Would be good to know the step by step of getting into BTL please and how to get started in deals packaging. It does seem scary. thanks

@JamieYork 3 жыл бұрын

I'll add that to the list for videos to make!

@86crush Жыл бұрын

It’s really frustrating that KZfaq shows me videos from other countries that don’t apply to the principles of property management in the U.S I appreciate what you’re doing here, but why does the algorithm do this to me!?

@JamieYork Жыл бұрын

Honestly the algorithm is something we'd all like to understand!

@mialeroux2943 Жыл бұрын

Oof grateful I found this. Find myself in a position to actually own property and im very interested to go further into property management. It is very important to me though to be an honest but knowledgeable person. This is a great starting point!

@JamieYork Жыл бұрын

Glad it helped you! Thanks!

@proteusminor 3 жыл бұрын

Really good video Jamie but when you get to ultimately Self Manage again I'm assuming you are going to employ someone to do this ? Perhaps you could do an add on video to cover how this would be done as I'd be very interested to learn more about how you've done this.

@JamieYork 3 жыл бұрын

Yeah I would employ someone to do just that. I wouldn’t take it on myself and yes, I can definitely do a video around it for you :)

@minsumacay3733 11 ай бұрын

Tomorrow is my final interview about property management and i dont know how to handle this hope it worth it

@JamieYork 11 ай бұрын

Wishing you the best of luck! Hope it goes well!

@LJ-be8cl 3 жыл бұрын

New subscriber and really like your videos. I’m interested in starting a buy to let portfolio but still wanting to work a full time job so the management side of things is something I need to get right. What services does a property manager provide on a day to day basis that makes it worth the money? What happens if something goes wrong with the house that requires someone to attend and carry out a repair? How are the costs determined and paid for? Any help you could give would be appreciated.

@JamieYork 3 жыл бұрын

that's where a good management agent comes into play, they would get someone out there to price it up

@aceofmen. 2 жыл бұрын

Thank You. I've 20 properties. Scotland. Managed. 16 years. I'm never seeing the money. Very difficult to keep track of expected moment in , with deduction s made vs what's actually in .

@JamieYork 2 жыл бұрын

Really glad this helps :)

@fielderquarter8880 2 жыл бұрын

Hey Jamie, thibs video has been a while. For new build BTL, agents are charging 12% on rent per month and with VAT =gbp2300 x 2 new BTL=4600 (in zone 4 London) and more . What would you recommend and/or do you know/provide such management services for new build BTL ,which hardly needs much with all the certifications already at hand (no gas certificate)

@JamieYork 2 жыл бұрын

Negotiate with them. That’s an advertised rate. You don’t need to pay that :)

@RevuitNet 3 жыл бұрын

How does TF services compare with something like OpenRent services?

@JamieYork 3 жыл бұрын

Open rent is decent IF you want to be involved in the process of getting the tenant on board and talk to them but personally I want it to be as professional and hands off as possible

@RevuitNet 3 жыл бұрын

@@JamieYork I thought open rent had an option to manage your contracts, take initial payment and handle viewings? It’s about £50 a month. Thought it might be decent for a first one or 2 properties?

@leonorescobar7253 7 ай бұрын

New to you channel: What is VAT?

@JamieYork 7 ай бұрын

Value added tax

@rimmidhammi 6 ай бұрын

I have question with property purchase. How difficult is it to manage a limited company if using it/ registering it only for a buy to let peoperty?

@JamieYork 6 ай бұрын

Not very hard tbh

@rimmidhammi 6 ай бұрын

@@JamieYork where can I get the get the guidelines to manage it, maintain documentation and submit tax or returns without hiring an accountant. As never done it before.

@TheFakeyCakeMaker Жыл бұрын

hi can anyone explain in real terms how we "add value" to tenants? I totally agree with the concept I just can't think how to apply it in terms landlording/PMing

@jakkuwolfinsomnia8058 Жыл бұрын

Think about if you were the tenant, what would encourage YOU to stay there? For me, it’s: affordability, quality of the property interior, quality of service and care, incentives.

@user-lz7jk9mq7u 7 ай бұрын

what if in my country there is no probperty managment company , and at the same time there is more than 40 mllion people?

@JamieYork 7 ай бұрын

Be a pioneer and create the management company!

@kathgeneroso3767 2 жыл бұрын

Hi Jaime, can I ask for an advice?

@JamieYork 2 жыл бұрын

Always

@bengiddings5139 Жыл бұрын

When you say 8-12% do you mean of the monthly amount tenants pay?

@JamieYork Жыл бұрын

Correct 😊

@iFreeThink 9 ай бұрын

If it's the house you live in (one house; primary residence), how much would it be (because there is no rent)? Is it like the AAA of houses (could call anytime)? @@JamieYork

@minsumacay3733 11 ай бұрын

Is property management have a monthly salary? Except to the commission we received

@JamieYork 11 ай бұрын

Some places can be, it all depends on whom it is

@mohamedmorsy1872 3 жыл бұрын

Hi Jamie, Were you serious when you said ( Stay away from Leeds and do not invest in it ? or were you joking ?

@JamieYork 3 жыл бұрын

No mate, I was just messing. I LOVE Leeds. I actually have a company that finds investments in and around Leeds for hands free investors. Click here and fill in the details if you fancy a chat: aspirepropertygroup.co.uk/