We're Building A New HMO Property But It Has Many Issues...
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- Опубликовано: 21 авг 2024
- We recently purchased an existing HMO property in Birmingham for approximately £250,000. However, as we began the renovation process, we uncovered several unexpected challenges. In this video, we'll discuss some of the issues we've encountered and share our future strategy once the renovation is complete.
Aidas: / aidas_grubliauskas
@AidasGrubliauskas
If you like learning about business, and property investing check other videos I have on my channel: @TheSajHussain
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#property #propertyinvestment #hmo
Great video. I really like this format with an insight into a property mid way through renovation, expected costs, and potential valuation. I look forward to seeing the end product and the final figures in a follow up video.
It would also be good to see a prequel video showing how you sourced the property and how you decided the deal would be viable before committing to the purchase. That'll give us an end to end walkthrough of the process you take.
Thank you, we'll definitely revisit the property once it's complete to end the walkthrough
Looks like a good one- I know the feeling when you aren’t going back to brick and then it feels we almost did anyway 🤯
Thanks Emad
It is appreciated that challenges and success stories are reported equally. In addition, it is completely true that it is the cash flow generated by the property that determines the value, if the assumption is that the valuation must correspond to what a rational buyer would pay.
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Saj, you have a really good project manager there. Really knows his stuff. Keep up the good work both. 👍
What they are doing is a risk, there's a 50/50 chance if they are going to make a profit, buying a run down house and adding a new heater, plumbing, changing inner wires, putting in a whole new toilet eg
We're business partners
Nice video guys...
What's your position on the new plastic water pipes plumbers use?
Would you still prefer copper ones in your own residential homes because of its anti-microbial properties and no micro plastic in water. But it's more prone to leaks...
We've been using mostly plastic for quite a few years, not had any issues.
Video editing game is on point!!
Thanks Kaan!
Uncle Saj!! At it again! Ma’shallah. Im new to the property game and have worked out that I would like to go into deal sourcing. I’ve watched loads of videos and have been studying and taking notes. But I now feel that I am at a point I need to be around people who are in, and doing well in this game, most importantly I just want to learn how to work out what a good BRRRR deal would be number wise, and how to structure it start to finish as that is the strategy I would love to master before looking at any others. If you have any videos regarding any of the above uncle, show me the way!
Come to my next Property Meet, networking event on the 17th October. Link in description if you're looking to start surrounding yourself with property entrepreneurs. I have made some Deal Sourcing videos on my channel in the past
Refurbishment costs have gone through the roof in the last 2 years.
Saj you really turn out lovely property's. Great video.
Yes! Thank you!
More of these!
Thanks! We're currently planning to film more of our projects
@@TheSajHussain site visits would be great too!
Hi Saj - can you link a video on raising capital for property purchases. I'm fortunate to have paid off my mortgage and sitting on anywhere between 350-400K equity in the property depending on the surveyor!! and have savings on top with zero debt. Now I'm aware debt is not the mother of all evils so am wondering what options I have to buy a second or third property through remortgaging?
ruclips.net/video/EDya7oQf9Ns/видео.htmlsi=8mpwbXIepVh7kw4g
Nice looks like a good project. Are you looking to let to students or professionals and what do you think you can charge per room per month and would you include bills? Have HMOs in Leicester / Loughborough but not in Birmingham yet.
It will be professional lets including bills. Rent wise the prices are rising fast so will make a decision around that just before the house is ready.
Please, do you offer mentorships - to train mentees on how to acquire properties & create HMOs, BTLs, etc ? Many thanks..
Hi Sai,
Great vid, thank you for sharing!
Can I please ask for your advice?
I live in the South East (Essex) and I'm reeally struggling to find deals atm, i have a pot of money thats enough to either to put down as a deposit for a 3 bed house (but not enough to buy and convert to HMO and give a good return, plus higher risk due to interest rate), or build an extension to my house (3 extra bedrooms and a bathroom) and rent out spare bedrooms as a HMO (about 23% ROI). I'm quite incline to do the extension and rent out spare bedroom to get a good return, but at the same time fearing the loss of opportunity of buying another house... do you think its a mistake to spend the money on an extension rather than on another house?
Your advise would be much appreciated as I'm quite tore between the two choices atm...
Thank you!
I would start with what is the outcome you are trying to achieve.
Great video! Just wondering how much is the expected vs final build cost for the project.
We're looking at around £50k in renovation and other costs. Will update the figure once the property is complete.
hi saj,, great work , please do we need planning to add kitchen in the loft
Hi, can I ask what you would consider to be a healthy loan to value across all your properties?
Asalaam Alaikum
Where would you advertise this once it is ready for market?
Wasalaam, to our database.
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I need a small investment of ~£25k to get a new HMO deal off the ground. Everything already in place. Where should i look to source private investment?
Send my team an email team@sajhussain.com
Just need to find 6 working people who can all live together
Usually house shares, and I had one when waged 17. Look like an episode of the Young Ones. And the TV programme, This Life, showed things could get very messy with educated people living together
Bad business to get into.
Things have moved on a lot since you were 17. We have hundreds of professional tenants living in shared houses.
😂😂😂😂😂😂 it’s a shame he hasn’t got a clue on what’s going on in the HQ Parliament. It doesn’t know what upon him they’re all going to be wiped out. Watch this space I have inside knowledge you are all doomed😂😂😂😂
?
12 months from today, come back to this channel and see if you're correct.
@@TheSajHussain great
in that case shed some light on your prediction .