HMO 3 Bed Property Investment UK Conversion Swinton
We conveyed on this property yesterday in Swinton. The property is located on Manchester RD M27 4TS We are converting the property into a 3 bed HMO property which will generate 8580 GBP per annum 55 per room per week…We are starting the refurbishment this morning. We anticipate 2-3 weeks of work. This property like many others are put on a 5 year contract…no voids…no maintenance…( up to 2,000 per incident. And up to 5,000 per annum) no management for Social Housing.
Some of these projects we keep and some we sell…When we sell these properties we look to give the investor a net yield of 8%.
On every project there are unknowns. We learned on rip out of this property that the flooring needs new joists. We always budget an additional 20% for works….
If you have any questions or interest…Please let me know…Would like to hear your questions and thoughts…
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