Salford Manchester HMO Property
This refurbishment project took us a little under 1 month. We are almost finished….some more work needs to be finished before turnover . Once we turnover the property it immediately starts cash flowing. No looking for tenants nor any void periods. The property will be let for a niche of social housing with guaranteed rent for us for 5 years. Each room rents for 55 £ per week. In this case the property will produce Net income of 11,400 £ per year. This property is located in Salford a growing area of Manchester. After 5 years a big chunk of the property will be paid off. We have no management…no maintenance….and no voids. Repairs are covered up to 5,000 £ per year as well as 2,000£ per incident.
We have been doing more and more of these types of HMOs as it lets us focus our time on sourcing. Most properties we keep…however we do sell some off in order to lower leverage. If you have any questions please let me know as well as how I can assist you…
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