Many people would love to try to do themselves a social HMO that is on a 5 year contract with no voids…no management and virtually no maintenance…however there are so many hoops to jump through…All types of inspections for the social HMO from the council …police….health and safety…..You name it…Our builders have it down to a science. They are methodical and know exactly what they are doing. Even with this said there are always issues with Social HMOs. As well we do Professional HMOs and there are issues there as well….Article 4 is coming in….room size issues….fire and health directives….Trying to do a Professional HMO or even a social HMO one really needs a good time. We had a father and son who came to purchase one of our Professional HMOs….They tried doing a Professional HMO themselves. 9 months and just issue and issue with the builders and the council made them decide to buy a ready made cash flowing Professional HMO from us…
Not saying it can not be done….we started with one and made a lot of mistakes…Just plan for it and realize what
your time is worth and the cost of funds.
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