Overpaying on Salford Properties to Convert to Professional HMOs
Newbie investors are lining up from all places such as London….Hong Kong and even the Middle East for Salford HMOs. They are beginners in Professional HMOs. They might have gone to one course and think it is so simple. They think they can manage the builders from a far. They think they find a “Reliable” management company. Looking the listing offers over 150k and all the works that need redoing…plus new works…This new newbie Professional HMO investor will definitely upside down. This is even before they think they might be able to rent the Professional HMO.
This listing on Rightmove says it all…..
This HMO in Salford is not in compliance…has many building control issues. This Professional HMO looks like it failed and could be caused by a myriad of reasons. Bottom line is without knowledge a great deal of money can be lost…