The 5 HMO Mistakes You NEED To Avoid | Profitable Strategy Explained | Simon Zutshi
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- Опубликовано: 15 июл 2024
- Discover Simon Zutshi’s 3-5 Property Formula For Financial Freedom By Registering here: property.isrefer.com/go/hmo10...
What are the 5 Critical HMO Mistakes in Property Investment?
In this Property Education video, Property Expert Simon Zutshi shares the Biggest HMO Mistakes investors make before getting involved with HMO Property Investing in the UK. Learning more about Mastering HMO Properties could give you the security and freedom to spend your life doing what you want.
For anyone interested in How to Invest in HMO Properties but are sceptical because of any ‘HMO Investing Pitfalls’, Simon expands on these individually, explaining why they are misconceptions preventing you from growing your Property Portfolio.
Some of the ‘Top 5 HMO Investing Mistakes’ include thinking Houses of Multiple Occupation are Student Rental Properties, not carrying out any HMO Conversions to transform them into High End Co Living Properties and assuming you need a lot of capital to get started.
After talking through some of the alternative Property Strategies you can use in conjunction with HMO Projects such as BRRR / Momentum Investing, R2R and Lease Options - Simon underlines the pros of educating yourself on UK HMOs in order to replace your income quickly.
Discover Simon Zutshi’s 3-5 Property Formula For Financial Freedom By Registering here: property.isrefer.com/go/hmo10...
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Love the hmo strategy paired with BRRs, I source in the south and it helps squeeze a few hundred extra a month
That's great to hear! Combining the HMO strategy with BRR can indeed maximise returns. It's smart to source in the south where demand can drive higher rental income. Keep up the good work!
@@SimonZutshiOfficial Thank Simon! It was great seeing you speak at the SL academy dinner a few months back ☺️
@@SourceEstate Thank you! Are you planning on coming to any events soon?
@@SimonZutshiOfficial I'm based in Kent so I will have to see what is close ☺️
Should you focus on non-Art 4 areas for HMOs
It can be beneficial to focus on non-Article 4 areas for HMOs, as these areas typically have fewer planning restrictions, making it easier to convert properties into HMOs. However, always consider the demand for HMOs in the area and ensure you're meeting all legal requirements regardless of the Article 4 status.
What should a 4 bed HMO be bringing in PROFIT PCM?
How long is a piece of string?
I guess that it depends on what rent is being charged, what the costs are, the level, if any, of voids.
Excellent and informative video! I have watched it twice now, and once I have made another mug of tea, it will soon be three times.
I was always under the impression that to get an HMO mortgage, you HAD to have a landlord track record. Glad to hear that not all lenders are the same. Would I be correct in stating that Kent Reliance would be one such?
By the way, whilst we are on the subject of mistakes, whoever provides the textual overlays (is that what they are called?) wrote 'stategies" (sic), instead of 'strategies'!
Should the plural of HMO be HMOs? Why do people put in a grocer's apostrophe?
I loved that winding entrance to your HMO! Is there some height issue or is it purely for stylish effect?
After the third viewing I spotted two things that I completely missed the first two times! You said that with a PLO if there is a sufficient rise in the capital value of the property that that extra equity could be used as a deposit to buy the place! How does that work? Oh, and another typo...'joint venturers written as "join venture".
Thanks for the informative video.
Ok, on average, no voids.
@@8803surri With a six bed HMO, perhaps you could expect £1,000 per calendar month. With four, I wonder if you will just about break even, perhaps a little more?
It really depends on so many factors, location strategy, where are you based?