Just ten days into the refurb for one of our HMO clients, I wanted to show you around. See what we’re doing, as we’re doing it. We have four different models of HMOs, this is the second model. A purchase price of approximately £350,000, it will generate an income of about £37,000 a year!
Click on my video below to see what we’re doing for this HMO…
At this stage, we’ve got no working power or lights and we’ve already begun moving the walls around to use the space to maximise value. This is always fun with 1960s houses as there’s always a lot of wasted space.
Downstairs, we’ve created the premier room, one room that is even more superior to the rest, which will be completed with an en-suite shower room and a private cinema room. This allows us to charge premium rent, to increase profits.
Also, downstairs, we’re including a four-piece bathroom, because there’s always a tenant that enjoys a good soak. This property will accommodate 6 tenants, and we’re putting in four bath/shower rooms. This allows us to increase our premiums.
This HMO model is very successful because it’s in our goldmine area, which will appreciate in value over the coming years, benefiting our Investor even more. We’re expecting this investment to achieve a yield of about 15% gross, which our client is thrilled about.
Remember… Happy Tenants, Happy Investors.
If you’d like to discuss our approach to HMOs or would like for us to source a HMO property in Berkshire or Surrey for you, please get in touch. I’d love to have a chat with you, completely free of charge, to discuss your goals and see how we can achieve them together.