HMO’s can work well and HMO’s can also crash and burn.

My aim is to ensure that you are one of the prior mentioned and that you invest in HMO’s safely, wisely and ethically.

Buy in the right location
This is the first key point to cover – get it wrong and you risk your entire investment. I hear so many tales of investors who want to run a HMO in a village or a rural area – or worse yet are mis-sold an investment that is just 15 minutes too far for a student to stagger back to after a session down at the pub.

Be sure to buy in a central area with close access to amenities and transport.

Make sure you identify the demand
Do some test adverts to make sure that tenants actually want to live in the area where you are buying. There is nothing worse than buying in an area where nobody wants to live. Make sure you get at least 3-5 calls per week minimum in order to fill a 4-bedroom HMO – any less than that and either you are pricing yourself out of the market or you’ve decided to do some testing in December or August.

Don’t skimp on the refurbishment
Most landlords get this wrong again and again and again. Make sure you are not skimping on this as a tenant faced with a property that’s had a recent lick of paint and attention has been paid to items such as doors, carpets, kitchen and bathroom outfitting – will be much more likely to take this than a property that shows signs of little care or attention being paid to it.

It is the little things that count. Try bright white – you’ll be amazed at how different it makes any room feel!

Get the best possible furniture you can
I sometimes despair of HMO’s landlords. Everybody is paying an all inclusive rent and what this means is that everything is included and will be forever – unless the landlord decides to go down another route or single let his house. So why do landlords spend so little on rubbish cardboard chipboard furniture that falls apart within 5 minutes of putting something in it?! I just don’t get it.

Spend a little extra using real wood furniture in pine, oak or wood style and you’ll find that it lasts for 5-10 years plus! I still have furniture now in my HMO’s that looks as good today as it did 5 years ago when it was installed – and its built to last.

Yes, it may cost a little extra but it will be worth it in the end.

For more information about how you can get into HMO’s safely but profitably, sign up for our HMO Secrets "Busted" workshop that takes place on Saturday 29th October in Northampton.

There are a few workshops happening on the same weekend but none of them are in my opinion (and I may be biased!) going to make as much difference to your financial future as attending the Millennia Property HMO Secrets "Busted" workshop.

Why? Here's just five reasons:-

• Most people attending our course go out and purchase at least ONE HMO generating them at least £300 per calendar month - thats £3600 in year one! W e show you how to save yourself a minimum of £1,000 per HMO guaranteed!
• We show you how you can legally take control of a property that could generate you a minimum of £3600 per year for just £1 + legals!
• We give you a blank copy of one of our Operations Manuals so you can set up your systems to manage your HMO's yourself!
• You get to touch, feel and see live HMO's that we control, own or manage!
• So hence why I believe that our workshop can't be beaten - nothing gets you closer to the action than actually experiencing the product in person.

PLUS, we'll have have our legal and finance teams available on the day to discuss how you can get started right away.

To book your place, just click here

I and the rest of the Millennia Property team look forward to seeing you on the day.

regards
Matthew

PS don't forget; because this is a live interactive workshop where we'll be visiting HMO's in person, places are strictly limited and going fast. Book now before your place goes by just click here