Turnover of Yet Another HMO Manchester Investment Property

 

Today we had a final inspection on another one of our Social housing properties. This property is located in Irlam Manchester. It is a 4 bedroom property and will be generating NET 11,400. We just had word from one potential investor that they will be interested in purchasing 4 of these HMO properties ( this one included). Fingers are crossed ( toes also). Our model is that we sell some in order to buy more for ourselves. We are extremely low leverage and low risk. Some might say this is ridiculous, however we know in the worst case we will survive. I have been through 2007 and even 1994 that many have not lived through. I know how bad it can get. Leverage is both good and bad. I prefer to avoid.

In the past we had investors from the Middle East, however their appetite seems to have dried up due to the price of oil and their local economies.  This has not stopped us from looking for more investors however. We even contacted a bank in Bahrain to JV with. We feel we can source, refurbish and tenant close to 100 properties per year.

 

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