Progress on HMO Conversion Project Wigan

We have been working on this property almost 2 weeks. Assuming we should be finished and having it cash flowing in the very near future. This property will generate 10,400 Net per year. This 4 Bed HMO will be leased for 5 years for Social Housing. We have updated the property to give the tenants the quality and feel of home. The property will have no voids for 5 years…nor is there any management on our end. The best part of the deal is that maintenance is covered up to 5,000 per year or 2,000 per incident. This greatly improves our profitability….time as well as we are giving back to society. Some of these HMO properties we keep and some we sell off. This property is being sold off to a Middle East investor at almost 9% Net. We have 2 properties for sale currently…however they do go fast. Plus we should be conveying on 2 more next week.

If you have any questions please let me know and I will try to help…

 

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