Hong Kong Investors Viewing Professional HMOs -Social HMOs
We have been getting more and more interest from Hong Kong property investors. We have seen some of these Hong Kong investors go and buy Manchester city center flats and some even try to source, refurbish and manage from a million miles away. Unfortunately seen numerous horror stories where some of these investors who did not have local knowledge fell prey to dishonest sourcers, builders etc. They overpaid for properties and even bought properties that were in article 4 areas of Salford that could not be converted into professional HMOs.
We have some numerous Social HMOs and Professional HMOs to Hong Kong investors. Not exactly sure how they find us…but they are serious and motivated property investors. Today our colleague who lives in Manchester is taking around 7 property investors from Hong Kong. Last week he met for coffee with another Hong Kong property investor.
We tell them our honest opinions about beautiful city center flats & all the risks entailed …ie ground rents etc. We are showing them conversion projects now that are on guaranteed rent programs with no management. This seems to resonate with them even if they are not luxury. These savvy investors want solid returns and realise that management is the key or failure of their property investment in Manchester.
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