Tag: lng_1.2923049

Investing in Property for Sale: How to Buy A Profitable Property for Airbnb in Norfolk City Centre

Post author By Robyn Peña
Post date November 24, 2022

airbnb property for sale norfolk City Centre

Norfolk is known for its famous man-made Broads with over 125 miles of navigable lock-free waterways set in beautiful countryside and picturesque towns and villages.

This city has tremendous opportunities for growth and has become an emerging market for residential real estate over the past couple of years. High rental demand and affordable rates of living in Norfolk are the main factors driving up real estate demand in the area.

If you are interested to invest in a property in Norfolk where you can maximize profitability, then it’s certainly a must to consider the major things to look out for when buying a property for Airbnb. While rental arbitrage in the UK is fairly popular and does not require you to purchase a property, it’s still the best to learn about buying a property for Airbnb and making sure that it’s profitable. Primarily, it’s also important to check Airbnb rules in Norfolk to operate the business without any hesitations.

There are certain locations in Norfolk that are always popular with students due to easy access to the university – highly recommended for doing Airbnb rental arbitrage in Norfolk! For instance, the South West is the location of the University of East Anglia, Norfolk and Norwich University Hospital, and Norwich Research Park. This area encompasses Mount Pleasant, Earlham, Colney, Eaton, and Cringleford.

In this article, we’ll discuss the metrics in order to gauge the best property investment, specifically when buying a property investment in the UK. This includes the best website recommendations for property investment, defining property gross rental yield, cash-on-cash return, and monthly revenue, along with some of the most ideal and profitable properties according to their location.

Stoked to learn more about starting an Airbnb business in the UK, particularly in Norfolk City Centre? Continue reading!

Is Property Investment Profitable in Norfolk City Centre?

Since the UK has the fastest-growing property markets across the globe, there is a wide variety of profitable property investments offering higher yields. Using an Airbnb calculator, it was discovered that a 2-bedroom apartment in Norfolk City Centre can generate an annual revenue of £40,827 with a steady occupancy rate of 80% and a nightly rate of £138.

airbnb property for sale norfolk City Centre

Profitable Properties for Sale in Norfolk City Centre

Finding the best properties that have the potential to produce high yields and capital growth are certainly some of the preferences of major investors. It’s always best to ask for assistance from real estate agents to access exclusive and unique properties during the development stage.

At the same time, it’s even better when a property investor like you conducts research about predicted growths and market forecasts. Here are some of the profitable properties in Norfolk City Centre along with the calculated gross rental yield, cash-on-cash return, and annual revenue:

Disclaimer: The properties featured in this article are indicated as examples and there is a possibility that they have already been sold and removed from the website's listings.

Hadley Crescent, Heacham, King’s Lynn

1. Studio-type Property for Sale Norfolk
Only a short drive to downtown Atlanta

Asking Price: £60,000

GROSS RENTAL YIELD	21.03%
ANNUAL REVENUE	£12,617
CASH ON CASH RETURN	37.32%

County Court Road, King’s Lynn PE30

2. 1-Bedroom Property for Sale Norfolk
0.2 miles to Kings Lynn

Asking Price: £97,500

GROSS RENTAL YIELD	17.70%
ANNUAL REVENUE	£17,260
CASH ON CASH RETURN	27.34%

North Drive, Great Yarmouth NR30

3. 2-Bedroom Property for Sale Norfolk
1.5 miles to Great Yarmouth

Asking Price: £60,000

GROSS RENTAL YIELD	30.09%
ANNUAL REVENUE	£18,054
CASH ON CASH RETURN	64.50%

24A St. Peters Road, Great Yarmouth, Norfolk NR30

4. 3-Bedroom Property for Sale Norfolk
4.4 miles away from Berney Arms

Asking Price: £80,000

GROSS RENTAL YIELD	25.87%
ANNUAL REVENUE	£20,693
CASH ON CASH RETURN	51.83%

Draper Gardens, Lansdowne Close, Gayton, King’s Lynn PE32

5. 4-Bedroom Property for Sale Norfolk

6.2 miles away from Kings Lynn

Asking Price: £122,500

GROSS RENTAL YIELD	28.34%
ANNUAL REVENUE	£34,711
CASH ON CASH RETURN	59.24%

Conclusion

Since Airbnb is rapidly increasing and constantly changing for each city in the world, it is crucial to make decisions based on wild guesses. The data points mentioned in this article for Norfolk such as Airbnb occupancy rates, annual revenue, and average daily rate should be the primary basis before investing in a property.

Hence, if the data presented above has given you ideas to boost your strategic pricing plan for your business, then an Airbnb rental arbitrage calculator is certainly what you need for success in the long run. It’s a fact that some of the STR investors are also considering Airbnb Rental Arbitrage, but they still need to have a reliable data tool on which to base their conclusions!

As we live in a digital era, an accurate data analytics tool can help your business stand out among your surrounding competitors and benchmark your property by tracking the occupancy rates of competing listings in your preferred city.

Tags Airbnb Investments, lat_52.6285694, lng_1.2923049

Airbnb Rental Arbitrage All About Airbnb

Airbnb Rental Arbitrage in Norfolk

Post author By Robyn Peña
Post date August 11, 2022

Are you interested in achieving financial independence through passive income? Here’s a disclaimer: you don’t need to own a property to start the Airbnb rental arbitrage business! In this article, we featured the entire process of Airbnb rental arbitrage in Norfolk, its profitability, and the best areas and neighborhoods. Continue reading to learn more about short-term regulations and ways to convince landlords to sublet properties for rental arbitrage!

What is Rental Arbitrage?

Rental Arbitrage is a way to start an Airbnb business with no money. By convincing landlords to lease you a property, you can furnish and sublease it on Airbnb and VRBO. No need for you to buy a property!

It is perfectly legal and is a proven scalable business model. In my podcast, I have spoken to various entrepreneurs doing Airbnb arbitrage full-time.

Here’s a proof! In Norfolk, Leticia manages 20 listings and I’m pretty sure she doesn’t own the all properties. She made £723,507 in the last 12 months.

How much can I make with rental arbitrage in Norfolk?

Before you dive in and start putting out your hard-earned money on a property, it’s important to know how much profit you can make. For instance, the best borough to invest in is Norfolk City Centre located in the NR2 district because of the business professionals & students in the city!

Norfolk City Centre is attractive for property investors because of its close proximity to universities and business buildings. Now that we have the best neighborhood to invest in Norfolk, let’s talk about profitability and monthly expenses.

Profit & Monthly Expense in Norfolk

Based on Airbtics’ data, you can earn a whopping £2,513 per month for a studio-type bedroom in Norfolk City Centre alone. With the data provided, you can certainly tell that investing in a property in Norfolk is profitable!

Average Rent Price	Airbnb Monthly Revenue	Monthly Expense	Monthly Profit
£820	£2,513	£503	£1,190

Source: Airbtics dashboard

The monthly profit can be calculated by subtracting the Airbnb monthly revenue, the rental price and monthly expense (£2,513-£820-£503 = £1,190).

Startup Cost in Norfolk

Now that you have an overview of how much your monthly expense and revenue is, let’s talk about the start-up cost! How long does it take for an investor like you to get back the startup cost? Let’s take a look at this calculation:

Total Startup Cost (Average startup cost + 2 months rent price)	Cash Return Time
£3,640	3.1 months

The average estimated startup cost (for furnishing) in Norfolk is around £2,000. To compute the total startup cost, it is necessary to add the 2 months of average rent price (£1,640). Now that we have a total startup cost of £3,640, cash return time can be calculated by dividing this by the monthly profit (£1,190).

Given your monthly revenue of £1,190, it will take approximately 3.1 months time to get back the startup cost! In such a short period of time, you can already expect profit and consider starting your second unit for rental arbitrage. If this sounds promising to you, then go ahead and look at the other best areas for rental arbitrage in Norfolk!

Best Areas for Rental Arbitrage in Norfolk

Before investing in a particular area in Norfolk, you have to take a look at the top markets and number of listings to set your expectations for success. Check out the top 3 neighbourhoods in Norfolk ranked by their annual revenue, along with their occupancy & daily rates!

1. Norfolk City Centre (L14)

This borough is one of the largest employment areas in Europe, hence, it is home to business executives and professionals! Here’s what you can expect in this neighbourhood:

Type of Bedrooms	Average Rent Price (pcm)	Average Airbnb Revenue	Occupancy Rates	Average Daily Rate
Studio Type Apartment	£820	£2,513	66%	£102
2-bedrooms	£871	£1,217	64%	£130
3-bedrooms	£1,090	£1,641	77%	£191

According to our Airbtics Dashboard, there are more than 31 Airbnb listings with 3 private room properties and 23 one-bedroom properties in this area. The monthly revenue for most properties in Norfolk City Centre is more than £328 per month with occupancy being more than 48%.

2. Great Yarmouth (NR29)

If you are looking for cheap buy-to-let properties in Norfolk, Great Yarmouth is the best place to invest in! With yields ranging from 4.9 – 5.4%, this area often attracts vacationers from all over the world. Here’s what you can expect in this neighbourhood:

Type of Bedrooms	Average Rent Price (pcm)	Average Airbnb Revenue	Occupancy Rates	Average Daily Rate
1-bedroom	£550	£1,698	62%	£125
2-bedrooms	£701	£1,592	60%	£127
3-bedrooms	£808	£1,977	56%	£163

This area has a total of 1,788 Airbnb listings with 197 private room properties and 510 one-bedroom properties. The monthly revenue for most properties in Great Yarmouth is more than £808 per month with occupancy being more than 49%.

3. Riverside, Norwich (NR1)

Last but not least, Riverside is a more affordable area! It is considered an excellent choice for property investment in Norfolk because this area is only a few meters from the town centre, making it accessible for family buyers and student tenants. Here’s what you can expect in this neighbourhood:

Type of Bedrooms	Average Rent Price (pcm)	Average Airbnb Revenue	Occupancy Rates	Average Daily Rate
1-bedroom	£843	£1,749	73%	£96
2-bedrooms	£1,236	£2,740	74%	£150
3-bedrooms	£1,730	£3,509	65%	£183

This area has a total of 124 Airbnb listings with 49 private room properties and 77 one-bedroom properties in this area. The monthly revenue for most properties in Riverside is more than £1,077 per month with occupancy being more than 51%.

Short-term rental regulations in Norfolk

To begin with, it’s certainly important to be familiar with the Airbnb rules in Norfolk to make sure that your business will run smoothly. Here are some of the short-term rental regulations and laws to take note of:

If the total of all lettings that exceed 31 continuous days is more than 155 days during the year, then your property will not continue to be a Furnished Holiday Let for that year.
Your property must be available for letting as furnished holiday accommodation letting for at least 210 days in the year. The creation of a six-month tenancy would compromise this regulation.

How to Find Landlords for Airbnb Rental Arbitrage

Airbnb investment through rental arbitrage is one of the best strategies to have passive income. However, it could be a challenge to find a landlord that allows their property for subletting on Airbnb. You can also convince a landlord by following the rental arbitrage email template & be extra creative!

Here are ways how you can find landlords that allow Airbnb rental arbitrage:

Real Estate Websites

Renters in the digital world who are looking for properties online can easily connect with landlords. Some of the most recommended online real estate websites which allow you to filter by city, state, or ZIP code are:

However, you can also find apartment & condominium properties online in the following websites:

Search Engines & Marketplaces

There are numerous property owners who are leasing their properties and you can easily find them on Google & online marketplaces. Check out some of the most recommended marketplaces:

Craigslist allows renters to specifically state what kind of property they are looking for. You can try typing in ‘landlords allowing Airbnb’ or ‘sublease property in (city name)’ and try other keywords to get you on the right track.
Facebook marketplace has a vast community of landlords & renters, so you can try joining the right groups to lead you on the right path. Here are some of the finest Facebook groups that you can join:

Communicate with Landlords

If you are currently renting a space or know someone who is, then it’s also recommended to speak with them. Start by asking if there are vacant rooms or properties and let them know about your intentions of putting them up for rental arbitrage. They might also be able to recommend neighbors or local friends who are also interested in this idea!

Tags Airbnb Rental Arbitrage, lat_52.6285694, lng_1.2923049

Airbnb Rules All About Airbnb

Airbnb Rules in Norfolk

Post author By Robyn Peña
Post date August 1, 2022

If you are looking to buy investment properties in the UK, knowing the Airbnb rules in your preferred city is the first step! In this article, we featured Airbnb regulations in Norfolk along with short-term let policies, buy to let properties, things to consider in property investment, and more. Continue reading and learn more about the Airbnb rules in Norfolk!

Is Airbnb legal in Norfolk?

Don’t worry, Airbnb is legal in Norfolk! This county is famous for its picturesque sandy beaches, wild swamps, and many other beautiful places to explore. In addition to this, Norfolk has a variety of amusement parks, museums, theaters, and plenty of medieval buildings.

Here is a little proof! As of May 2022, there are 58,935 nights available in Norfolk from Airbnb alone. Cottages,Com manages 400 listings, Norfolk Hideaways and 2cHolidays operate 338 and 241 respectively.

How much can I make by running an Airbnb in Norfolk?

Currently, there are 3,315 Airbnb listings in Norfolk, with 81% of entire houses earning up to £2,695 a month. The Average Occupancy Rate in Norfolk is 50% and the average daily rate is £276. According to short-term rental properties data source Airbtics, a 2-bedroom apartment in Norfolk can make up to £28,955 each year. Discover how much income can you get on Airbnb with our Free Short-Term Rental Calculator.

Short-term rental policy in Norfolk

If the total of all lettings that exceed 31 continuous days is more than 155 days during the year, then your property will not continue to be a Furnished Holiday Let for that year.
Your property must be available for letting as furnished holiday accommodation letting for at least 210 days in the year. The creation of a six-month tenancy would compromise this regulation.

Investment Property in Norfolk

If you are looking to start an Airbnb business in the UK, this is your go signal to do so! Before investing in a property in Norfolk, you have to consider the major determinators for success. This includes average price, population, nearby landmarks or attractions, and rental yields to expect – among the rest. Here are Norfolk’s property market insights that you can look into & consider purchasing:

Source: Norfolk Property

Area	Average House Price	Average Rent Price (pcm)	Average Airbnb Revenue	Yield
Norwich	£268,977	£1,330	£1,850	4,9%
Dereham	£242,723	£763	£2,076	4,4%
King’s Lynn	£194,768	£725	£1,276	5,6%

Source: Buy to Let Areas in Norfolk

Property For Sale in Norfolk

Buying a property in Norfolk with an impressive rental yield is an excellent way to have a passive income. The average house price in North Norfolk ranges at £307,000. Norfolk has been a desirable location for property investors because of its seaside locations & excellent transport links. By looking at the following property investment websites such as Zoopla and On The Market, you can get a grasp of the various prices and properties for sale on Norfolk.