Issues to Be Aware When Buying Property From Wholesalers

Issues to Be Aware When Buying Property From Wholesalers

I like the idea of paying a fee for someone else to do all the work finding a great deal on a Professional HMO conversion. If it is really a good deal. They deserve to make their cut for finding the deal on a Professional HMO. On the cusp of it, what an easy way to build a property portfolio of Professional HMOs. Simply sign up or get to know wholesalers of property in your immediate area. Cha ching…Great deals flow your way???

Does this sound like you, you have a full time job or just too busy to find great deals? Do you really think if some one finds a great deal,they will only take a small piece of the deal for sourcing. In all honesty, smart scourers do this and leave meat on the bone for property investors. However in my personal experience they are few and far between.

If you are doing your homework, too many of the BMV deals are not really good deals. That is why our JV partners and ourselves find our own deals. Yes occasionally there are some off market deals, however in Manchester prices are moving and deals are hard to find.

Even in today’s market, on the surface it might seem not to be a great deal but if we can create value then we stand the chance of making money. This is the whole essence of Professional HMOs. As a simple buy to let, the numbers could be tight. However if we convert one of the reception rooms…put in high end en suites value and demand can be created.

Some simple suggestions from my personal experience that I want to share…