Hopefully 3 Social HMO Finishes by the End of this Week

We have had a very busy month. We are hopefully finishing 3 Social Housing HMOs that are on guaranteed rents….no voids…no management and maintenance covered up to 5,000 per year. It was a very hectic period…going back and forth with the council on various issues…building regs…being on top of 3 sets of builders…Now we have to get all the furnishings….blinds…etc. I really have to chuckle when investors call and ask us to source a property and offer to pay us a couple thousand qid. They have no concept of time and effort into a HMO conversion project. Sitting in traffic….taking care of council tax….setting up accounts with electric and gas. Once we finish these 3 we have 3 5 bed Social HMOs we are doing. We really like the 5 and 6 bed social HMOs. They take almost the same about of time to refurb….however they generate net almost £15,000 for a 5 bed and almost £18,000 for a 6 bed. That is really alot of money with a hands off investment. The only issue for us is that we need cash buyers for these as only several banks will lend on them with rather strict criteria.