Professional HMOs & Economic Engines

An economic engine are schools, universities and hospitals at least in our thoughts. We prefer the later for professional HMOs. So many chase Student HMOs. One issue with them is that they are not rented throughout the full year. Compare this to a hospital. How many employees do you think the average hospital has. There are maintenance people….there are cleaners….there are staff who prepare the meals….and and and…so many workers. Hospitals are not just doctors.  More so in a bad economy do hospitals slow down?  NOPE!!!

Several months ago we purchased a property was a stone throw away from a hospital in Oldham. As we keep some and sell some…I had one investor who was interested in the income this Social Housing HMO was generating and stupidly told us it was a total dump neighbourhood and full of XYZ people. All I thought was how stupid he was….it is cash flowing close to 12k a year with no voids…no maintenance…and no management. There is no crime in the areas as we would not have passed to have a social HMO. I do not care what happens in the world or the economy. There will be a need for social housing HMOs especially close to a hospital.

When we first found the property itself was a disaster yet so close to the hospital, I just know that it was economic engine area, that hospital’s not closing down. Doesn’t matter what the economy does. We jumped on the property.

Put your emotions aside. Look for Economic engines such as HMOs that are near hospitals. We have several….