What we try to do is purchase properties for social housing

by | Nov 30, 2022 | HMO |

 

What we try to do is purchase properties for social housing

Near each other in order that one group of builders can split up their teams. Plus it makes it easier for my colleague to go and inspect the properties. All these properties are virtually copy and paste as they must be to the same spec. We have completed on more than 170 of these properties. Mostly we keep however I sell some as banks do not like the long 10 year leases. We have 2 in Bacup at the moment in which we are finishing. Both are 5 beds with net rents of 15,210 a year. Cost on this social housing property is approx 140k or a net 10.86% yield. On a gross basis it is easily a 12.86% up to 13.86% as we have no expenses. No council tax. Only insurance. The best part of these properties is once they are finished they simply cash and we have quiet. This quiet lets us source and refurbish more properties. Dealing with Tenants can be a nightmare especially with late pays or no pays.

#Manchester #london #property #properties #buytolet #propertymanagement #propertypodcast #wealth #propertysourcing #propertyforsale #propertydeals #refurbishment #refurb #landlords #propertiesforsale #hongkong #singapore #bnohongkong #sourcing #bno