@Shaunelle Crockwell Hi there, As Mike mentioned above, every deal varies depending on the area, the setting, and the capacity in which you intend to operate. However this is approximate estimate cost that according to the research. Again just to emphasise that is approximate estimate cost that may be different in different areal and plan and operation you make take. Setting up a private room can cost significantly less—typically between £500 and £1,500 —whereas a full home setup usually ranges from £5,000 to £10,000, covering furniture, guest supplies, compliance costs, and more. This is all, estimate and it would be different on what kind of level you operating meaning studio (1000-3000), 1 bedroom (1,500-4000), 2 bedroom (2,500- 7000), 3 bedroom (3000-9000) and so on. 1. Software & Professional Services You'll also need to budget for tech, visuals, and compliance: - Channel managers, pricing software, property management system (PMS) tools: recurring subscription costs. - Professional photography: around £100–£250 - Optional professional-level help like business planning can range £500–£4,000 2. Initial Operating Overheads These are one-time and recurring setup costs: - Utilities (first month's): Council tax, broadband (£25 - 40 / month) TV licence cost per month (£14 month) - Insurance and redress scheme registration (e.g., The Property Ombudsman): approximately £240/year 3. Ongoing & Operational Costs Once live, your business will incur continuous expenses: - Property management fees: typically 10%–30% of monthly Income -   • Other ongoing costs: utilities, cleaning, maintenance, marketing, legal/compliance, taxes Summary review: Define your property scope—studio? multi-bed unit? This helps pinpoint your furnishing budget. Prioritise cost-impact areas like guest impressions (furnishings, photos), then scale tools and compliance. Model cashflow carefully: estimate occupancy levels, anticipated returns, and factor in management fees.

@Shaunelle Crockwell Thanks for that. I am not an expert and learn from others like Simon Zutshi, the Property Investor Network, Abi Hookway, and Paul Smith of Touchstone Education, and other resources, and I have an interest in serviced accommodation.

Hi @Abela Mary Welcome to the community and great to have you here. You can check out upcoming sessions here: https://www.skool.com/assets-for-life-8963/calendar

Hi @Ramanpreet Singh Chhabra Welcome to the community and great to have you here. You can check out upcoming sessions here: https://www.skool.com/assets-for-life-8963/calendar

@Ian Jenkins I am not an expert and I don't offer a legal or financial advise here but can suggest the following and strongly advise please you do the due diligence and consult with a professional adviser before any action. My suggestion is following: 1-Lease Options (aka Rent-to-Buy / Lease Purchase Agreements) - What it is:You agree with the property owner to control their property for a set period (e.g., 3–5 years) with the option (not obligation) to buy at a pre-agreed price. - Why it works without your capital:You don’t pay the full purchase price upfront — you may pay a small option fee (which can be funded by your buyer or investor) and cover monthly payments from rental income. - Flow: A- Find a motivated seller — often landlords with vacant or problem properties, or owners in negative equity. B- Agree on terms — fixed purchase price + length of lease + monthly payment (usually equal to mortgage payment). C- Control the property — market it for rent or sale (or both). D- Tenant-buyer pays you — you receive rent higher than your monthly payment to the owner. E- Exit — either sell to your tenant-buyer or another investor before your option expires, keeping the profit. 2. Assisted Sales - What it is:You partner with a property owner to renovate and sell their property. You pay nothing upfront — you cover the refurb costs using investor funds or builder finance, then share the profit with the owner. - Why it works:You never take ownership (so no mortgage needed), you just add value and split the uplift. 3. Joint Ventures with Investors - What it is:An investor funds the purchase; you find, negotiate, and manage the deal. Profits are split based on agreement. - Why it works:You leverage your time, skills, and deal-finding ability instead of cash. Example: Lease Option in Manchester Background: - Property: 2-bed terrace in Salford, Greater Manchester - Market Value (2022): £165,000 - Mortgage Balance: £160,000 - Seller’s problem: Couldn’t sell without paying estate agent & solicitor fees; needed quick solution.

Thanks @Ebun Scott appreciate your kind words.

Thanks @Mark Stokes for sharing your inside.