May 5, 2016

114: Katrina Jones and her team have grown her Rent to Rent business, Kendall Bailey, to a £500,000 turnover within only 2.5 years of her being fired from her day job

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Katrina’s journey into business started about 10 years ago. She spent the first 5 years of her journey as an intrapreneur Sales & Marketing Manager in Melbourne, starting from the bottom of the company at 19 years old as a 100% commission based, face to face, cold calling sales rep.

Over the years, she worked her way through as many promotions as she could and grew her own successful sales offices, recruited and trained over 200 + staff, and was invited to speak at national conferences, winning numerous international awards.

Katrina knew that with the tools, mind-set and experience she had developed during those 5 intense years, she was ready to start her own business, and after attending Progressive Property’s Multiple Streams of Property Income Event in Manchester a few years ago – she knew exactly what she wanted to do! It seemed that the Rent to Rent investment strategy was absolutely perfect!

Since starting her rent to rent company in July 2013, Katrina and her fiancé Alex Szepietowski have won the Progressive Property VIP Investors of the Year Award, as well as Alex winning the Property Investors Deal of the Year Award.

Katrina has spent the past 18 months systemising & developing her business, building a powerful team, and ensuring their foundation is as strong as possible to continue to scale up. This year Kendall Bailey are forecast to turn over £500,000, she plans to expand the Kendall Bailey R2R Academy and double the size of the rent to rent portfolio.

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Investing Strategies

Katrina has built her business by focussing on the rent to rent model, and she explains exactly what this means to her: we rent the property, either directly from a landlord or through a letting agency, on a guaranteed rental figure for X years (we typically do 3-4 years) and rent it out for more than the guaranteed amount.

Katrina focusses on taking on slightly run-down existing student HMOs, which currently rent for about £67 per room per week. They invest a little (£3,000-£4,000) in revamping the property, add extras like full sky TV packages, and as a result are able to significantly increase (sometimes almost doubling) the rent they achieve.

Biggest Success

When Katrina was negotiating one of her rent to rent deals, she offered the landlord a lease option which he agreed to. Only a few weeks had passed when he came back to her and offered to sell it to her straight away rather than waiting for the duration of the option term.

She proceeded with the purchase at £130,000, added another bedroom and converted it into a boutique HMO, recently getting it revalued at £250,000!

Biggest Difficulty

Before Katrina got started in property, she was still working in the corporate world but passionate about starting her own business. Her partner was going through university exams at the time and asked that she keep the house a stress free environment until they were over, then he would support he in whatever she chose to pursue.

She agreed of course, but things didn’t exactly go to plan when she got fired the next day. Not being able to tell Alex (or anyone else for that matter) she spent 9-5 for the next few weeks in a coffee shop working on her business, which actually was the best thing she could have done when you look back at her success now.

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