Progress on 4 Bed Social Gladstone Street HMO Blyth

We conveyed on this 4 bed Social HMO on May 27th. We are shooting to have it turned around, pass all inspection,then tenanted & cash flowing by Weds June 24th. We had interest from a Hong Kong investor for this HMO property late on Friday. What is holding us up from moving forward are solicitors on furlough and super slow searches coming back. There are those who indemnify all their searches however there is a degree of risk whilst doing this. We try to buy right, refurb to a nice standard, cash flow asap & if there are any title defects or council charges we could experience a hiccup. We try to build each of these social HMOs and social family buy to lets as mini oil wells. There is a new contract now and for a period from 5 to 10 years these mini oil well HMO properties simply cash flow. No voids, no management and virtually no maintenance. If properties like this are of interest please contact us.

 

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