Progress on Social Housing HMO Property Salford Manchester
We started this Social Housing HMO Property Salford Manchester on Monday. We have 4 lads working feverishly as we have another Social Housing Project HMO to give them once this one is finished. Never smoothed sailing as with the rip out you discover new works that need to be done. All of this bits and bogs add up quickly. Plus add in the fact we now must furnish the properties. That means blinds…couches…beds..wardrobes…more so it cost most to assemble. All the time our investors want higher returns our costs are increasing in every facet. Prices are moving upwards in Manchester. In good areas of Salford there are bidding wars. Rather silly as we still seem to find very good deals. This particular property was a repossession. One of our estate agents contacted us, we viewed it and did a memo of sale. All within just under 2 hours. This is the way to work if you want good deals in Salford. This property will generate a little under 12,000 a year. No voids..No management…and maintenance covered up to 5,000 per annum. We have 6 of these going on at the moment. Alot of juggling and constant issues.
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