Talk about pressure, we have 2 Social HMOs being completed in an upcoming Article 4 area in which are working around the clock…..have 4 properties selling, 1 Professional HMO and 3 Social HMOs. Each one of them need something or another…either a rent apportionment….some minor fixings…or in one case a wall needed to be rebuilt. It only took a month as we were not sure if it was the neighbours fault, corporate tenant who is on the long lease or GD. Regardless we rebuilt the Great Wall of Manchester and all along we were collecting a very nice rent on this social HMO. It is never easy, one buyer was supposed to be cash and we were supposed to convey today…and now told he is going with a mortgage and now has a draw down of a week.
All part of the property business. For all of those who think this is easy….it is full of stories and drama. We had an email earlier in the week that one of our tenants died in a Professional HMO we had just sold. Shocking as they are all young people. The key to property and Professional HMOs and Social HMOs is surrounding yourself with a great team. I am watching the clock as we have a 8.30 phone call with a window company to price out a set of windows. They were supposed to come earlier in the week….However we were told it was a holiday.
From 6am to 10pm….reality of property investing