I just bought a hotel for £1
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- Опубликовано: 5 окт 2024
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A. This is not in Cambridge, it's in a plain old village halfway between Cambridge and Huntingdon with pretty poor public transport connections; and B. It's in a designated Conservation Area so you're incredibly unlikely to get planning to build any more houses on that land.
This is Samual when has he ever told the truth
All of the above and also good luck with the repair costs on any listed building, just the windows will set you back by tens of thousands of pounds.
1. You didn't buy it for £1. You bought an option to buy it. Vastly different.
2. £1m on room revenue per annum is 100pc occupancy. You won't get 100pc occupancy.
This is a solid deal without the clickbait title which just undermines your cred with the viewer.
3. You've agreed to buy it for £2m. That's a lot different to £1.
4. So you need to sell 6500/120 = 54 nights per month which is about 7.5pc occupancy to cover the monthly lease. All sounds doable.
Would be better if you unpacked more of this than than £1 purchase price nonsense.
I think I unpacked it pretty well in the video but appreciate your points ❤️
Ryan I agree with you. I wouldn’t do a course with him like I was going to because he either misled or doesn’t know what buying outright is. Also you never work out based on full occupancy and full price. The max he would get per year is a million IF 365 days a year he had full occupancy, no refunds, no non payers, no damage and at full price. That will never happen so he’s giving bad advice to start.
Add the clickbait example and it sounds v dishonest
I agree. Title is very clickbaity. Once I read your comment I stopped watching.
thank you
Thanks
what an exciting project! huge potential. I would add a small kids playground and keep some rooms family friendly (bunk beds, cute decor). you can also put glamping pods on the land and a big events tent for weddings. the wedding guests can stay at the hotel. it would be more work and you woukd require some staff but potential for income is massive. can't wait for academy events there! congrats on completing on this deal!
I know you know this but I will say it. Once you have this running as a successful serviced accommodation, you could basically have the property evaluated and potentially get a commercial loan big enough to pay the Chinese, then use the cashflow to pay off the loan over a few years and basically own the thing 5 years from now. Love it!!
Wow, that's a Rothchild move, man. 😅😅
I think the loan would need to be reflective of its income. There is no chance that it will be 100% occupancy. Hotels/service apartments rarely achieve 100%. More likely an average of 50% per year. There are maintenance, management, marketing, salaries, security, refurbishment, insurance, utilities, all need to be factored. Samuel needs to not mislead people into believing that service apartments do not require staff costs, it needs to be cleaned and maintained! The land around the house is probably classed as greenbelt, due to the location and no planning would be granted, so waste of time basing valuation on the available land, as this cannot be touched. I think the hotel would lend itself better to student accommodation or an HMO for students and/or staff, based at the universiities in the area, but once again this is seasonal so realistically, the income would be based on 50% average + costs. The residential house, yes I guess this is a bonus, but probably more suitable for the rental market as the noise and constant footfall in and out of the hotel, would reduce its value potentially. No mention of build costs, corporation tax, council tax either! Having said that, he does have 10 years to pay back £1m agreed, which I guess allows him time to consider linining up a third party to manage it such as Premier Inn as the location is not the best.
What happened to the castle in bewdley?
This dude is a content creator. He didn’t pay £1. Visit reputable investors to really learn the game.
what's the regulations for health and safety if there are no staff, eg. a fire or gas leak, would there not have to be someone in the premises? love your vids they have helped me a lot and cant wait to get started in property!!!
Brilliant deal, calculations may be a bit optimistic (considering they’re based on a 100% occupancy rate, 365 days a year) but it’s the bigger picture with a deal like this. An old period hotel, with land and pre existing properties with potential to develop more.
Thought the same but he also caveated that excludes all the other revenue generation from the property - and then also that 75% of that initial figure is also still a strong investment. I’m sure his actual investment calcs are a lot more thorough than that lol, but a decent enough way to keep it high level for the everyday watcher.
@@logik99 agreed
Always love your video’s very inspiring. I would be interested to see a breakdown of cost to get this up and running as I think 100k is unrealistic.
First rule of business is to keep your business close to your chest . Why would you want to create competitors ???. All those so called property experts are not experts . Why are they making RUclips videos ???. You know they are talking rubbish when they do not talk about running costs and also depreciation !!!. Punching numbers into a calculator is not business !!!. Anyone can make ludicrous forecasts !!. Due to running costs all these type of hotels and care homes are struggling !!!. Wait till you get the heating bill for that place , you eyeballs will pop out !!
Let me explain why they do it:
1. By teaching others, they reinforce their own learning and sometimes gain new ideas.
2. Often, their primary motivation is not money but the desire to be admired and to attain celebrity status. Their ego needs this. They need to feel special.
3. They do generate good income from their courses, but again, it's not just about the money. It’s about their ego and the need to be admired and feel special.
4. Frequently, these individuals don’t need the money. They do it for the satisfaction of helping others and, again, to feel admired and special. The financial aspect is secondary.
To get the million would have to be at 100% capacity every day of the year.
Even £750k would be 75%full capacity, even that I think your airing on the side of optimism.
A million quid per year from a hotel in Willingham… come oooooon. With 26 beds that means each bed needs to be making £38kPA (nightly rate £105 at 100% occupancy) 😅 LOA is cool but why inflate the figures so much
Been in that building few times and I was from willingham and still go alot. If you sell every room how are people going to park as no way enough room for all them cars. Please don't lose the pond around the back. You could so easily turn it on to a spa retreat and has been talk about before!!
I thought serviced accommodation units are normally self-contained with their own kitchen?
Looking good. Can’t wait to see the end result once the refurbishment is completed.
what many don't realize is that Samuel is offering gold nuggets of advice , yes it needed a lot of patience but look at the result. This should motivate you people and be happy for him ! He is showing to you how to do it so stop critique him and start doing !
@@kieranb7047 I agree what you are saying, apart from the 'con artist'. I think what he is doing is offering the highlights, but totally agree there should be an effort to offer very conservative estimates on income and remind everyone that there are always going to be additional costs, taxes being the biggest chunk. To say there are no staff needed to run a serviced apartment is at best very niave on his part or he is just trying to pull the wool over our eyes. Of course there are going to be costs such as maintenance, utility costs, void periods during the low season.
I live in the village of Willingham nearly all my life, this property has been a care home, many memories of family who lived out their lives there in what once was a beautiful setting. The gardens were very well kept and stunning. It would be lovely to see this beautiful building back to what it should be and look like. Why not make it a desirable wedding venue also, this is a village, 10+ miles FROM the CITY of Cambridge, we have had too much development in this village, what a shame it would be to build more in that , what could be a beautiful garden, so much potential for other purposes. It would be a shame to spoil. I’m sure many villagers would be happy to see it being used in a business way but please think about the people who already live here, local jobs are always needed. Surely some staff will be needed ? I’ve seem many ventures tried in this building over the last years , before covid it was thriving and local resources were used.
Totally agree with you. Thank you for feedback which is very much appreciated. We are working on the gardens as we speak
Much preferred this style. Looking forward to more
What do you estimate the full refurbishment costs to be? 100,000 seems low and cannot include those buildings at the back?
Wow, absolutely amazing, well done. I look forward to seeing the refurbished hotel.
Did u pay upfront the £6,500 or more + need proof of funds?
As the rooms aren’t fully finished yet.
But Fantastic deal. Is this ur best investment yet.
We're moving in Samuel! 😅.. Well done 🎉
Hi Samuel despite me having disability you inspire me a lot and you make me think anything is possible I’m really interested in finding more about how you structured this deal and how did you find this deal it sounds amazing thanks Raees
I thought this was going to be his ozempic coming out video!
Samuel, why don't you post the track record of the performance of this project? Gross Revenue, Expenses, Rent Paid, Net Revenue. Monthly?
When I saw the title, I thought it would already have a first mortgage of 1.5 million. But it is an option and monthly leasing cost.
Yes, despite what the other comments say, he could get close to a million in revenue but the initial costs might be bigger than he thinks and for that size--he will need some staff, if only to hoover the halls and cut the grass. And it will take more time+ effort to manage it. Still, it could work. And with inflation---that 2 million in ten years is equal to 750,000 now. So he did get a deal.
Commercial real estate in the UK is super cheap.
Too many hastily dismiss the the tax burden operating a business of this type…
Would you be legible for development finance on a lease option agreement?
So you dinted buy it for a pound
What rent are you paying?
Thanks for sharing, shared.
Rented, Privately here since, 2003.
So you so you didn’t BUY a hotel for a pound then did you????? I was going to do a few courses with you but as you don’t tell the truth I will give it a miss
Amazing property and gardens, great deal!
Miss leading video he didn’t just pay £1 for property. #too good to be true
Awesome deal well done to you and Amanda 🤩
Sam knows his stuff. Well done.
He doesn’t at all.I wouldn’t do a course with him like I was going to because he either misled or doesn’t know what buying outright is. Also you never work out based on full occupancy and full price. The max he would get per year is a million IF 365 days a year he had full occupancy, no refunds, no non payers, no damage and at full price. That will never happen so he’s giving bad advice to start.
Add the clickbait example and it sounds v dishonest
@@maisymorris7506 Fair comment
do you start here or somthing smaller and easier to get started?
Looks like a nice intimate place. Do you own any hotels in the states? Where you are located are you required to pay prooerty taxes?
Would love to know how you find properties like this
Bro , how you paid for the Lease
I just imagine myself in 1 joint venture deal with a profit like this. So many people will be blessed through me.
Let me know if you want a quote for the tree surgery work? Better still, get two quotes and I will better them. You would have to provide accomodation for two men. Gavin
How did you find this great deal?
What happened to your castle?
£1 option to buy, but how much are you leasing it for a month?
6,500
He put £1 down but fails to tell me how he will finance the refurb.
Ex Hotelier. Take advice, your not going to do it like a rental. Complete waste of money.... Enjoy i lost over a million of my own cash trying to make it work
Excellent video, great explanation
Looks a Good Deal,..Congratulations.
if someone had 20k to invest in property what would be a good starting point ?
right now---Im looking at four shops in a bustling Lincolnshire town and two in Rhyl.
Yes, a bit run down but all are tenanted at 4 to 8,000 a year each, and all have an asking price of 20,000 to 25,000 each.
@@uditfonseka each property will come with a lease which you will have to factor? Presumably the rental income from the tenants will cover what you will be expected to pay each month to the freeholder?
I want to see this property refurbished
Your facts are incorrect. Premier inn own around 50% freehold of there buildings. They are not leasing 95% of their hotels.
Yes because they use lease to buy. The initially leased 95% but exercise their option to buy, just like I’m doing
Man hit the jackpot on this one
This same guy who Alan sugar cancelled
Hi good afternoon, I've been watching You're RUclips channel for some time and would like to try it out see if it's for me
Great video and a great deal!
I think turning the hotel into student accommodation would also be a great bet.
@@stevenhull5025 ahhh okay, thank you for telling me.
How did you find that rent to rent deal on a hotel
He didn't he's having his sucker followers on again. Castle last week, big hotel this week. He's a bullshyster and a god awfully obvious one.
How on Earth did you get so slim?
The best salesman, act like buyers 🤷♂️
Congratulations Samuel Leeds 👏😃🎊
Can't believe I'm actually suggesting this lol but have you compared income if you used the hotel to house asylum seekers. Atleast that way you would have no outlay upfront as its condition is ok as is.
Damn, that's 20 minutes from my house!!
what i want to see is the part where you try to get contractors in to do work to get it to a rentable status and also a brake down of how much it cost and how to obtain money to do this?
@@stevenhull5025 its the usaul with these things quote 1 and garunteed to be 3
So in first 2 mins you say you bought it for a pound but then you say you are going to tell us what you paid….if you didn’t pay a pound I’m unsubscribing as I’m fed up of misleading titles….if you bought for a pound then i apologise
nonsense
Just watched the full video, this is CLICK BAIT!!! AVOID.
You did not buy this. You do not own this, you are a liar.
I can’t wait to go to the crash courses I’ve booked with you
I’ve always paid for courses however I’m currently posted abroad with the military would you say it’s better to wait till I’m back in the uk from August or go through the courses now even though I’m abroad and can’t do house viewings or anything ?
There seems to be a lot of negativity here but the way I look at it if I pay for these courses and I follow the advice I’m given and nothing comes of it then I’ve spent money but learnt a lesson so even then it wouldn’t be a waste there are winners on a Wednesday he does so it clearly works for some people… and I’m certainly more knowledgeable now after listening to things he’s said read his and other people’s books so the money I’ve spent isn’t a waste as I’ve managed to use it to invest within my own education
You inspire me a lot Leeds
Welldone.
24rooms fully booked 365 days a year to reach a target revenue 1.000.000! Is this realistic?! 😂
I’d take £500k tbh
@@SamuelLeeds stay humble , love it
Phenomenal deal
I have £2
You lost a lot of weight man. Hope the stress isn’t getting to you.
Please make it a Zimbabwean Boarding School.