Progress Update on Manchester Rd Swinton HMO Social Housing
On August 25th we conveyed on Manchester road. We are in the process of making this into a 3 Bed HMO that will leased for 5 years with no voids, no management and maintenance up to 5,000 per annum. We anticipate another 2 weeks worth of work. We have moved one of the bathrooms and converted one of the reception rooms into another bedroom. This way we can increase the profit on the house. A 3 bed HMO like this will have a guaranteed rent of 8580 per annum or 55 per week.
Today we just accepted an offer on this property for 104,000. In the meantime we are working away in order to complete ASAP.
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