Jon interviews Rich Laycock, Spa Properties client, Scarborough lover, holiday homeowner and property portfolio owner, about his experience of holiday rentals, being a landlord, investment diversity, future plans, Spa Properties comprehensive service, and how holiday letting is a good choice in an array of options for your property.

KEY TAKEAWAYS

• Rich invested in property in Scarborough due to the lack of swings in rental income and property value stability.
• Multi-use properties are more desirable as you can adapt to changes in circumstances much more easily.
• Rich is planning to use pension-linked borrowing, for which you need to have set up either a self-invested personal pension (SIPP) or a small self-administered scheme (SSAS) which allows for more cost-effective borrowing and faster portfolio growth.
• Sometimes a fresh pair of eyes on a project can reveal new options for a property let.
• With Jon planning growth in the next few years, now is a great time to invest in your own holiday home managed and run by Spa Properties in and around Scarborough.

BEST MOMENTS

‘I used to introduce myself as ‘I’m the mad one from Scarborough that runs other people’s holiday homes’ which seemed to catch on with people but I did actually get informed that I should stop doing that.’ – Jon

‘I don’t want a property that only has one purpose. If I can use this property single let, as a HMO or as a holiday let then that’s good.’ – Rich

‘With a long term view of this property business in Scarborough being the hub of our investments. The holiday market being the hub of our investments.’ – Rich

‘The reality is if there’s cash flowing, if you’ve got a good strategy that’s balancing the risk with different options on it, eventually you’re going to be quids in.’ – Jon

‘We would struggle to do our business without your services.’ – Rich

VALUABLE RESOURCES

• Website: https://www.spaproperties.co.uk/

ABOUT THE HOST

Jon Stanton

Jon left a successful career spanning thirty years in IT to pursue his passion for property management and has been leading the team at Spa Properties for almost fifteen years.

As well as leading the team at Spa Properties, Jon is an advocate of ongoing business development and professional networking, as well as a senior member of the Scarborough Hospitality Association.

CONTACT

• LinkedIn: https://www.linkedin.com/in/jon-stanton/
• Twitter: https://twitter.com/jonspap

This show was brought to you by Progressive Media

See omnystudio.com/listener for privacy information.