Myself and my JV partners believe in systematizing. We use the same furniture company…same look…same style. This style is BRIGHT and WHITE…it seems to take some of the grey of Manchester out and liven up our Professional HMOs. This property on Elizabeth Street in Pendlebury is hopefully finishing today. Furniture delivered as we are stocking up with B&M, Argos and Ikea. The whole effect of this HMO is clean…gloss…warm…home style feel. This way tenants will stay along time and myself and my JV partners enjoy a better tenant and higher rents. On average on this HMO property in Pendlebury we are looking at between 105 to 120 depending on the rooms. This brings our gross rents somewhere between 21,000 to 23,000. We sell the Professional HMOs in order to keep more of the Social HMOs. This property once staged( which is always one of the most important issues) will be placed on Rightmove for offers over 160,000. The investors we sell to will have a fully tenanted…managed Professional HMO. A true arm chair investment in the range of 14% or a 20% plus with a 75% mortgage…
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