Salford Refurbishment HMO Project Progress
This project located in Salford will be a 4 bed HMO that will be rented out after inspections for 11,400 Net. There will be no voids…no management….maintenance is covered up to 5,000 per year.
In this project we had to replace windows. It is very important to note that when one changes out windows a Fensa certificate must be issued. Windows should be installed with a Fensa certified fitter.
FENSA is a government authorised Competent Persons Scheme for the replacement of windows, doors and roof lights in England and Wales. FENSA works with thousands of double glazing contractors in England and Wales. In choosing a FENSA double glazing registered company the consumer is offered greater protection when purchasing double glazing for their home. We only use the best materials as we want our properties to have a minimal of maintenance.
Another big tip is that we look to buy in bulk. We look to buy several kitchens at a time….several bathrooms at a time. This can lower cost and improve margins. We go to our properties on a constant basis during refurbishment. We also look to make bedrooms out of 2nd reception rooms. This is another additional 50-55 per week.
Some of these properties we keep for our portfolio and some we sell off. This lowers our leverage and with the profits of our sales we buy more profits to own ourselves. If you have any questions…I am more than happy to help…