Wanted to share a walkthrough of progress of one our upcoming Professional HMOs in Manchester. There might be some that are not familiar with the term HMO. This stands for Houses of multiple occupancy. The concept of HMOs is that it is cheaper for tenants than to live in flats as well as the social aspect of living and sharing facilities. From an investors standpoint it is much more profitable than Buy to lets. We aim for a gross 16% return and look to sell between a 12% to 13% all the while cash flowing. On the lowside we are assuming to generate a gross income of 28,800 and realistically with all expenses of 25%. The expenses are internet, general rates, insurance, management, energy and some maintenance. As the property is brand new the maintenance will be minimal. We are waiting for planning to be granted today or tomorrow in order that we can do an extension. This creates another bedroom and more income for us.
http://BHinvestment.co.uk/
Email: info@Bhinvestment.co.uk
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