HMO Conversion Project Pre Refurbishment

 

We just conveyed on this property and our builders started work on the same day. Quality and speed are paramount issues. We hope to be finished with this 4 Bed HMO project in 3 weeks. It will cash flow net 11,400. This comes out to 55 per room per week. The property has been inspected for a special niche of Social housing. We will be on a guaranteed contract for 5 years. There are no voids…no management…maintenance is covered up to 5,000 per year as well as 2,000 per occurrence. However with all the properties we have converted into HMOs we have not had one issue or any repairs.

We mainly work in Manchester as this is the area in which my colleagues grew up all their lives. Our builders are a family team with years of experience. We are helping society as well this is a great business model. Some of the properties we keep some we sell on around the 8% range Net…Any questions…please let me know and I will see if I can help…

 

 

 

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