Aki Ellahi was our headline speaker at September’s sell-out PIM.
The room was full as housing benefits specialist Aki Ellahi explained how he and his well known brother and business partner Arsh Ellahi run their successful property businesses in the Wolverhampton area.
They have been in business since since 1973 and specialise in letting to tenants who are claiming Housing Allowance.
They have over 500 tenants on benefits, with a 100% rent collection record and a 98% occupancy rate – and 20-30% yields. Pretty impressive!
Aki revealed exactly how their model operates – and how the new changes to Universal Credit will affect it.
The topics he covered, included:
- The benefit to renting to people on benefits
- How to understand them
- How to get the best out of them
- How to increase your rental potential by renting to people on benefits
- Where to find them
- How to get paid and maintain a high rent collection record
Aki gave some very impressive examples of the rewards from combining an HMO approach with tenants on benefits – to the advantage of both landlords and tenants too.
His headline “Monster deal” involved a property in West Brom, bought for £480k, producing rental income of £120k pa, from 23 tenants, all on housing benefit – and costing just £1k pa.
Another, perhaps more typical example, involved a property bought for just £80k, with £30k refurbishment costs – a total investment of £110k. This now produces rental income of £26k – a yield of 24%, with all utilities paid by the tenants. Best of all the property is now valued at £260k.
All in all, this was a fascinating evening and we all had a great time picking up Aki’s tips for this particular sector.
There are so many different ways to invest in property successfully – it’s all about understanding your particular sector and business model really well.
Next month, our headline speaker is Bristol property investor Barry Davies, who will be talking about Lease Options.
Do make sure you join us on Thursday 31 October 2013 at Holiday Inn, Bristol City Centre, 6-9 pm.
For more info and to reserve your place CLICK BELOW!
We look forward to seeing you there on the night.
All the Team at Property Options – For Successful Property Investment