There is a lot of money that can be made with serviced accommodation Belfast wide. I have been fortunate enough myself to do very well in this industry and have grown my business massively since my first investment in 2014. I want to share my knowledge on serviced accommodation and help you to have the same success that I have had – to do this, I am going to share my figures with you.
In 2014, I purchased my first property that was for the purpose of serviced accommodation for £67,500, it was by no means anything fancy, it had a monthly rental value of £650. I took this beat up property and invested £10,000 pounds into it and the transformation was absolutely fantastic and a far cry from its former dull state.
Since then I have brought in £30,000 per year from this property alone.
The next year, I bought another property – also in a very sorry state as my first investment was doing so well. I bought my next property the very next year in 2015, a slightly bigger property that had a monthly rental income of £850/month. This property was also not in great condition, but I looked beyond that and invested in it and this property earns me £40,000 every year.
Comparison of monthly rental income and serviced accommodation income:
|1st Property||Monthly Income||Yearly Income|
Difference in income: £22,200 per year
|2nd Property||Monthly Income||Yearly Income|
Difference in income: £29,800
So, if you are asking the question of if serviced accommodation is worth it, if you are sitting on the fence about this decision, then look at the figures above and ask yourself would the extra income on two properties you own be worth it, would £52,000 in extra income be something that would interest you?
If you are ready to make a change in your life and start making some money then get in touch with me, or if you are not ready yet, have a look at my book, The Fundamentals of Serviced Accommodation that you can buy here. I will walk you through the process of having a successful serviced accommodation business in an industry that is still very much in its growth phase – the time is now.