Your First SA Unit: A Goldmine or a Landmine? 💣

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You've heard about the glossy side of Serviced Accommodation (SA), and maybe you're dreaming about your first cheque already. Not so fast, cowboy. What if I told you that your first SA unit is more of a wisdom-wrenching gauntlet than a golden goose? Yes, you read that right. Buckle up, buttercup, because today we're talking hard truths, gritty realities, and the nightmares they don't want you to know about!

Mistake #1: Expecting your First SA Unit to Be a Cash Cow

Here's a newsflash - your first SA unit isn't going to turn you into Midas. I learned this the hard way. I snagged a property in an area infamous for its drug-littered corners, with an optimism that bordered on delusion. Despite having an optimistic occupancy rate, the locale was as price-conscious as a penny-pincher at a posh dinner.

The takeaway? Let your first unit be your classroom, not your cash cow. Your first rodeo is about gaining experience, understanding the landscape, and learning to ride the SA bronco.

Mistake #2: Undervaluing Your Cleaners

Your cleaners aren't just a cog in your SA machine; they're the freaking engine! If your cleaner drops the ball, be prepared to roll up your sleeves and scrub that floor like Cinderella before the ball.

This is something I have personally had to do on few occasions in the earlier days because I know my reviews are everything in this game

Mistake #3: Over-Refurbishing a Landlord's House

Listen, no one's asking you to be Bob the Builder, but some basic DIY skills wouldn't hurt. Also, remember this - it's not your house. If the refurb costs more than £1000, you're in too deep. Better yet, factor that cost into your rent negotiations.

Mistake #4: Underestimating the Power of Gadgets

Here's the thing about technology - when used right, it's a godsend. Here are three tools I swear by - a key safe, a ring doorbell, and a Minut alarm. Don't know what they are? Google 'em. Buy 'em. Then come back and thank me.

In all honesty, folks, SA is not a walk in the park. It's a marathon in stilettos. But trust me, once you've waded through these realities and learned these lessons, you're in a better place than any property guru's textbook can ever get you.

Next time, I'll share how I found my own way around these challenges and developed a robust system that kept me in the game.

Until then, keep those property dreams alive!

To your success,

Deji