Visiting Our HMO UK Real Estate Conversion Projects Salford
Yesterday we visited one of our HMO conversion projects with an estate agent. We wanted to show them the progress & to show their potential investors. As we are growing we have brought in new teams of builders. We are always looking for new builders as well as investors to work with. In this project in Salford we have 2 young lads who really want to prove themselves and have long term work. They went a little overboard with the insulation. As I am sure they are also reading this , we want to say that we appreciate their hard work and all the effort they are putting into this HMO conversion in Salford. These lads are going the extra mile to check and recheck everything. Each room has to be an exact dimension as well as there are numerous safety issues that need to addressed before inspections. This property as virtually all of our HMOs are leased on a guaranteed 5 year program for social housing. This property will generate 11,400 with no voids, management and maintenance is covered up to 5,000 per year. We hope to have this project finished in the next 2 weeks as well have 2 more properties in which we are conveying. Then our attention is on our warehouse conversion project to flats. This project took a long time to come about. We first found it in June. Then due to the Summer holidays had an issue getting over the parking issue. We met with the council with our architect and after 2 months we addressed the parking issue. This just started the process…Full planning was needed. Drawings, time and money and mostly patience. Now hopefully we are starting in the next 2 weeks. We have found 4 potential conversion projects in the last couple weeks. Looking to put them together. We have sent out to several of our potential investors an assumption of the deal…ie costs…potential profits for their review.
Today we are looking at even another potential deal. This is what being a real estate investor is. I am up since 5am working in order to be available to speak much of the day on the phone….
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