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What is FRLM (Find, Refurb, Let, Manage)

10 Jan 2022

Investment strategies aren't new to the field. As property investment has become more accessible for the masses there have been countless strategies and methods revealed to attract more investors to the market and make it more achievable for anyone to build a portfolio of properties.
 
You might have heard of Buy, Refurb, Rent, Refinance, Repeat (BRRRR... it's a bit chilly in here). It's a great strategy that helps beginner, and seasoned investors, understand the market and establish a robust property portfolio by breaking down the process into component parts to focus on in order to maximise property value, renter occupation and ROI. BRRRR works in a perfect scenario but things can change at the drop of a hat and send the system into meltdown.
 
But what if you don't have the time? Unless you are a full-time Property Investor, this strategy might be hard to get into. Enter FRLM (Find, Refurb, Let, Manage), Ultralets+ has coined this strategy to appeal to all investors of property as a means to build that dream portfolio with the help of an Investment Advisor and a Letting Team with over a decade of proven experience. We will sit with you in strategy meetings to set a schedule of events, break down costings and return on investment etc. We want to help support you with the tools and understanding of the market rather than overload you with nonsense jargon and unrealistic figures.
 

Find

We pair you with our trusted Investment Consultant who meets with you to establish your goals, preferred properties types and budgets etc. We will then get to work on finding opportunities, so you don't have to. Imagine all of the other things you can be getting on with whilst our team scans the market for your ideal properties! Take a walk, get to the beach - whatever makes you happy.
 
Once we have a shortlist, we will sit down with you again to go over all of the details, make sure you are happy with the property(ies) and help educate you on the processes. We believe in sharing the knowledge and when you understand the processes you will have more confidence to dive into the wonderful world of property investment.
 
We can the retail market for investment opportunities, your perfect property is out there - it's just knowing where to look. That's where the value of our expertise comes into its own. We have a database of landlords looking to scale their portfolios which provides trusted leads on property opportunities. We will always take the time to go and get our foot in the door of these properties to physically assess their suitability to your needs.
 

Refurb

So we have we found you a property that was a fantastic deal, sat nicely in your budget and in a great location. Now let's say that the kitchen is a bit dated, the living room could maybe do with a fresh coat of paint and a new carpet and that garden could do with a tidy-up. All of these things, once done will add value to that property. So you've bought a property at one price, put a bit of love into it and now it's gone up in value, that's a win! (Wasn't planned kind of pun - because of our .... work done.)
 
But wait, who is going to do the paint, change out the carpets and cut back those hedges in the garden? We can. Ultralets has an in-house maintenance team of highly skilled workers who are exclusive to our clients who will tend to any refurbishment that might be necessary or desired to boost your new properties value. If something comes up that is out of the scope of our team we have established a network of trusted contractors for any occasion.
 
We have completed 20+ full refurbs for our clients in 2021, achieving the required standard of property condition according to current legislation. These refurbishments target rent and value to make sure every penny spent on the property helps to maximise the return on the investment.
 

Let

So you have this great new property, it's got a beautiful tidy garden, a new kitchen with all the mod cons and the living room is fresh and homely. But there's no one in the property to appreciate all that hard work.
 
Don't worry about it, our Marketing Team will ensure the property is listed promptly, and To Let adverts are posted on our social media channels. The Lettings Team will be awaiting applications, vetting candidates and shortlisting ideal tenants and feedback to you for approval. This once again saves you going through all the work of listing your property, filtering through applicants and arranging the move-in. I know, it's great. Sit back and let us take that weight off of your back. You'll wonder why anyone ever self-manages their properties.
 

Manage

Once the property has been completed, you will have the opportunity to partner with Ultralets' Lettings Team who will assume management of the property. Just think about how much effort you would have to put into keeping track of the compliance for your property, remembering anniversaries for the EPC, Electric and Gas certificates. Not only that, but you would have to find a certified professional to carry them out.
 
When you join Ultralets, we have a trusted team of professionals who keep on top of all of those things and more. We complete routine inspections, organise compliance and coordinate letting the property (more on that next). Freeing yourself from the ties of managing your own properties will liberate you to carry on with your other important business whilst we handle the finer details. I think we can all agree that it would be a lot less hassle if you have a great team behind you ensuring rent is collected on time and in full, and if tenants aren't able to maintain payments - our team track arrears to make sure a full record, of everything that is owed, is kept up-to-date and chased up regularly.
 
Also, our Maintenance Team aren't just around for refurbishments. If any repairs need to be carried out, our team will be on hand to quickly and efficiently resolve any problems. We also have an emergency line to ensure that critical faults and repairs are responded to in the quickest manner possible. Our very own boys in blue.
 
Well, that about wraps up our FRLM approach from start to finish, as always you can reach out to us on the usual channels if you have any queries.
 
If you would like to get your FRLM journey started with Ultralets+ email our Property Investment Consultant, Dave Petersen at dave@ultralets.co.uk. You won't regret it.

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