🏠 Property Investment Update: Challenges and Profits in Worthing! 🌟

Hello everyone,

I'm excited to share some updates from our property investment venture in Worthing. It's been a rollercoaster ride with lessons learned and successes celebrated. Here’s what’s been happening:

1. Profit Milestone: We've hit a significant milestone with our 2-bed flat generating £888.64 in profits for the month of May! It’s a positive start, but there’s room for improvement.

2. Lessons Learned:

• AirBnB Penalties: Unfortunately, we encountered a setback with an AirBnB cancellation penalty due to a lost key incident. It’s a reminder to promptly address any financial issues that arise during property management.
• Guest Vetting: Ensuring responsible guests is crucial. We’ve experienced property damage, like a radiator being thrown off the wall, which platforms like Booking.com refused to cover fully. Moving forward, we’re investing in contents insurance to safeguard against such incidents.

3. Platform Insights: Starting as a new Serviced Accommodation (SA) comes with its challenges. We discovered a discount proposition on platforms to secure bookings and build reviews, though it does impact initial profits by about 20%. It’s essential to factor this into your investment calculations early on.

Navigating these challenges has been eye-opening, reinforcing the importance of proactive management and strategic planning in property investment.

As we continue to grow and learn, I'm keen to hear your insights and experiences. Let's connect, share knowledge, and support each other on this exciting journey.

Here’s to overcoming obstacles and achieving greater success ahead! 🚀

#PropertyInvestment #RealEstateInvesting #ServicedAccommodation #WorthingProperty #ProfitMilestone #LessonsLearned