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  1. Hello My aim is to create a space to discuss HMO/SA/BMV/BRRR deals in Oxford.
  2. Hi, Just after some advice as this is my first HMO I’m looking at buying. A property I am viewing next week has approval as an HMO but is currently let out as offices, will this be an issue as it’s commercial or should I be fine? thanks
  3. Hi everyone, is anyone aware of a single dedicated online resource, that pulls together ALL information on HMO’s all in one place I.e. fire regs, room sizes, Article 4 areas, ratios of bathrooms to tenants etc? I have read lots of books and done a lot of research, but it’s all spread out. Thanks for any direction fellow Hubbers might be able to offer.
  4. If a property HAD C4 status and a certificate of lawful use, and was then rented out as a family let and so now HAS C3 status. Does this mean planning permission will have to be applied for again to return to C4 status even with the CLU? (This is in reference to a property I am thinking about acquiring) Thanks for any help
  5. Hello All, Just a quick intro - I'm EJ, I still feel like a property newbie, I'm originally from London but recently located to Nottingham. After purchasing my first property in January and working with an upcoming investor to do the same thing within Nottingham, I've decided to embark on exploring more and starting my property sourcing journey in HMO's and Buy-to-lets. The last couple of weeks have all been a little crazy as I've been working with a property coach and things have been moving fast but all in the right direction so far. I'm still new to the Midlands so would be lovely to connect with some of you and maybe even work with some people in the future. Feel free to follow my journey on Instagram too and say 'Hi' - @ej.demontagueproperty That's me for now, have a lovely evening.
  6. I have a picture of myself aged 3 in 1968 mixing cement at my dad's first rental property, he is going to be 94 next week. by the '80's we had about 20 properties but it was always a dirty secret then, keeping me from team sports and events due to cleaning, maintenance and turn arounds between tenants, as a teenager my dad kept the numbers from me but allowed me to skim the 50p's from the meters, encouraged me to education and a proper job. nearly 40 years later and i'm educating myself about the time i've lost. Had 2 additional properties on the edge for about 15 years but recently bought another 4 and ready to pile in in a big way but educating myself first.
  7. Hello everybody I am new to this forum and have enjoyed reading some of the very interesting experiences of other members. Thank you all for sharing your wisdom with us newbies... I consider attending the National HMO Network Spring conference next week in London. Would appreciate to learn about your experiences with it. Useful to get started? My background: I have been looking into purchasing my first property. I am interested in cashflow over capital growth at the moment. I am interested in HMOs as I very much like the idea of offering a good quality living environment and community on relatively small space, for professionals or mature students. And I am fortuntate enough to be able to have a depost and a mortgage offer. However, I suffer from analysis paralysis (very nice term I learned here :)) As I live overseas at the moment, I have to have the HMO managed. On the bright side, this gives me the opportunity to invest anywhere in the UK. Particularly for HMO's the north seems to offer better ROI than for example the midwest, as far as I can tell. However, it appears that local knowledge is required and that good HMO sourcing and management agencies seem incredibly difficult to find, at least if you try to do everything online. So, what strategy would you advise? Is the HMO conference a good place to start? Or a property hub meeting ? I just wish they weren't all at the same day or teleporting was already invented. Something else? As I cannot travel to the UK too often, I want to make sure I choose a relevant event and get the most out of a few day visit. My aim would be to talk to a few people who successfully manage HMO's, understand if my hopes and wishes for offering nice living accomodation and get decent cashflow are realistic, and possibly get some recommendations for sourcing/managmenet agencies or good deals on offer, or general location advice. At the moment, my reserach brought me to Liverpool, although, locationwise I am very much open. Looking forward to your responses and thank you already for reading this far. Alex
  8. Hi, I’m Ash from Devon. I’ve recently completed on my first property and will be letting it out to young professionals. Can anyone give me any recommendations for good, hard wearing furniture companies? All advice on kitting out a HMO out would be greatly appreciate. Many thanks, Ash
  9. I would love the opportunity to ask a few questions to obtain insightful feedback to problems you face or may have faced whilst gaining valuable experience along the way. Here is a link to google forms where you will be asked a selection of short questions which will help me build a picture of effective ways to communicate alongside potential clients with greater accuracy, insight and certainty. https://docs.google.com/forms/d/e/1FAIpQLScJbaQSTMyrIWFtfrX80IDOHmnyEDLB091Bm_Bt-_4Bbwc3Ew/viewform?usp=sf_link Many thanks for taking time to read this topic. Michelle
  10. Hi everyone, I've got a few single lets where we've used the BRRR strategy and am now venturing out to my first HMO - however I'm struggling to assess whether it is a good deal! We've agreed a purchase on 3 bed terrace in the NW and we are looking to convert it to a 5 bed all ensuite. We know there is demand in the area we are looking at and are quiet confident that the rooms will be filled. The 'return on money left in' the deal once refinanced is suitable for what we are after and gives a reasonable cashflow. However, the biggest stumbling block for me is that the purchase price + fees + refurbishment cost is a fair amount greater than what the property will be valued at once the works are complete. What this effectively means, if we were to sell the property after the works we will lose money. The intention is not to sell. However, when we analyse our single lets one of our exit options is that we don't lose money if we had to sell the property after completion of works. This exit option wouldn't exist here due to the larger refurb cost associated with the HMO. I just wanted people's views on this - is this fairly common for those that have created their own HMOs? Thanks Jitsy
  11. Hello everyone,I am new here, but have been following Rob and Rob for some time and very grateful for all their work they do for community, hopefully I’ll manage to get my own BTL soon.I would like to form “Rent to Rent” limited company and I was wondering if someone could help with advice please.I have found two 3 bedroom houses I can rent and sublet on room by room basis. The living rooms have already been converted into 4th bedroom, so there will be 4 people in total in each house.To my understanding, I need to:1. Sign commercial lease agreement between my LTD and the house owner.2. Make sure mortgage provider is aware of this lease agreement and also that the house is being let as HMO.3. Make sure landlord has building and landlord liability insurance.4. Make sure landlord’s insurance won’t be invalidated due to contract I have between my LTD and the landlord.5. Make sure landlord’s insurer will cover multiple tenants on separate ASTs.6. Make sure house has gas and electrical safety certificates, and also ECP.7. Make sure house meets all other requirements (fire safety, minimum room size, etc)8. Get public liability insurance for my LTD9. Get professional indemnity insurance for my LTD (do I really need it?)10. No mandatory HMO licence needed (4 people in Lambeth area in London)11. No planning permission needed (no HMO Article 4 Direction for this area)Questions I'm looking answers for:12. Is £100 per month a good budget to take care of payroll and everything else to do with tax? Accountant recommendations please.13. Do I need a licence/permission for my LTD to operate as R2R?14. Do I need to register myself as an agent? If so, is it as a “letting agent”?15. Do I need any other licence for myself as director/employee of the company?16. I won't be collecting deposit from the tenants, but instead will require 2 months rent payment upfront. Is this acceptable or I need to handle this money in particular way?17. Where can I get good template for commercial lease please?18. Shall I use company formation agent? I would like to keep my home address private. Any recommendations?19. What else am I missing??Hopefully this post will be a good starting point for other people interested in R2R business.Many thanks in advance for all the input!PG
  12. Hi all, I have a small portfolio of single let’s, and have now got to the point of feeling a little braver! I have found a 5 bed HMO and weighing up my options. My initial thoughts are: 1) that it’s not to the standard I would want to live in, which I have always followed but then I don’t want to live in a HMO, so wonder if I need to discount this rule I’ve previously followed. 2) There’s nothing that makes it outstanding, no en-suite, rooms are small to medium (all doubles), Decoration, bathrooms and kitchen are average. So why would this rent if not the best around. Although it’s all full and relatively cheap for the area. 3) It has a HMO licence already and I think is in an article 4 area (I will check with the council next week, unless anyone knows a postcode checking service), but does this mean the licence will be granted in my name? 4) It turns some cash, but not as much as I expected, particularly if I put it with an agent. I could improve this with room increases but not sure how competitive it would then be. 5) All the tenants currently work in hospitality, is this risky given that they have all been furloughed. 6) Am I just looking at a house that’s the same as every other on the street except it has lock on individual rooms and smoke alarms? any advice would be great.
  13. With the barrage of changes that have been coming after the Private rental sector, plus the project changes on EPC rules in the future, my minds ticking away on what the best strategy is long term. I have 1 x BTL which has been good for yield and capital gain however I am planning to sell it likely before the 2025 deadline on EPC. The market is hot in the area it is in so I'm going to push out as long as I gain to get as much value from it as possible, i've just spent money on a refurb as well however with it being an old property i know it will start to give me hassle again in 5 years +. i'll probably have about 50k from the sale. I am going through the process of buying an EPC B property near an area of good development that is strong on yield however also has great prospects for growth, even over the next 4-5 years. Have £37k deposit tied into that. On top of the above I probably have £50k in savings to allocated to investment. Does anyone on here have experience of moving their investments / cash from vanilla BTL to HMO's and that could outline roughly how they compare in terms of regulation / hassle and mainly projected "kindness" from the government? My investing in property is to supplement retirement / income rather than sell for capital gain (as thats not guaranteed) , however I feel like the government is just making things hard for single let landlords and just wonder in 10 years time how well I will do out of a single let portfolio. Is the HMO sector experiencing the same pain as the single let sector in terms of tax, epc, regulation , etc etc ? I am looking for a strategy that I can execute over the next 15-20 years and beyond. I have options to either put my £50k into another single let (3rd property) for the long term, buy it for capital growth and yield over the next 3-4 years and re-look at my strategy then or save on top of the £50k to work towards a deposit on a HMO plan. Does anyone have any thoughts?? If I stayed in single lets I would obviously re-finance and expand as time went on, however this is obviously based on growth which is uncertain compared to yield.
  14. Hi everyone, New investor here. I live in London but I'm from Hull and went to uni in Leeds (1999 - 2004) so I'm looking to invest in both cities if possible. I'm looking at student lets and/or HMO to young professionals. I'm just starting out on my property investment journey so I'm keen to speak to anyone with experience in these areas, please get in touch if you do. Thanks, Paul
  15. I am viewing a property tomorrow in Southampton quite central and close to the rail station, hospital and university. It is already tenanted and doesn't need huge work to be done. It's originally a 3 bed semi which they have converted one of the reception rooms to another bedroom. In a pessimistic view, this property can give a £1,700 monthly cash flow in full occupancy. The asking price is £220K and I don't think they are open to bring it further down. What do you think?
  16. Hi, I'm currently in the process of setting up up my rent2rent business, specifically HMO management. I have recently come across a few deals in manchester. All are 6 bedroom 3 story properties. After doing the dudilligance, I calculated that they all generate a cash flow of atleast £3000 and a profit of no less than £600. Unfortunately I do not have significant funds to pay for the set up costs. As a result am looking for a joint venture partner. Please get in touch if you are interested
  17. Hi Hubbers, I really don't know where else to turn at the moment! Hammersmith and Fulham changed the HMO licensing requirements so that my property now requires an "additional HMO License". I have 4 non related flat sharers in my flat. It was never meant to be an HMO. They are all friends and signed the contract together. I do not understand my fire safety responsibilities now that I am an HMO. I can't get anyone on the phone at the council and they don't answer their phones. Does anyone know my fire safety responsibilities in this borough or someone who does fire risk assessments and work to make a place fire safe on such a small scale. All the companies I find online are for blocks of flats or office blocks. Any thoughts, help, recommendations very gratefully received. Debi
  18. Hi, I completed on my first vanilla BTL through a Ltd. a few months ago and am now looking into higher yielding and high value deals. The two main strategies that i am looking at are HMO's and multi-unit freehold blocks (MUFB) (2-5 flats) of which i am very eager to get a deal in before the SDTL holiday ends. Now, since i also started freelancing a few months ago i did hear that getting an HMO mortgage can be quite tricky if one does not have a long track record of freelancing and/or 6+ months of projects lined up. Vanilla BTL's however should be easier given i soon have 6+ month AST track record. My question is am i more likely to get lending for a MUFB (i.e. can they be more treated as a vanilla BTL) and maybe even at a better interest rate than a full fledged HMO (with planning etc)? In that case i would dismiss the HMO route and fully go down the MUFB as the return/risk profile is very similar to me. Any help or guidance much appreciated. Thanks, Lars
  19. Hi, We are looking for recommended estate agents who manage HMO properties in Failsworth or Oldham area. We are looking for agents to manage our two 6 bed HMO properties in the M35 area. Our current agents are not delivering a service to our standards and covid has highlighted a lot of inefficiencies in their service which is costing us time and money. Our search and interactions with a few agents has not resulted in much success. Any recommendations of agents used by people in the area would be highly appreciated. Thanks in advance, stay safe. Best regards, Manju https://luminaryproperties.co.uk/
  20. Hi all, I have come across an HMO which is being leased to a social housing group. i would be buying the freehold as the lease has been sold at a premium for 999 years. there is a separate lease for 5 yrs which details the rent to be paid by the social housing group. i am not aware of any potential issues in this transaction, should i wish to buy it, can you let me know areas i should pay additional attention to? do i have the option of changing the tenant (social housing association) to some one else or am i locked into 1 tenant for as long as i decide to hold on to the property? many thanks in advance.
  21. Hey all! I’m a 35 year old experienced property investor now looking to get into HMO’s. I’ve done quite a bit of research and learned plenty from PropertyHub (huge thanks to the Robs!!) but still have some way to go, the HMO world is very different to the standard BTL’s I’m used to! Would love to connect with others in the West Yorkshire / South Yorkshire areas as this is the area I am looking to invest in. Thanks for reading!
  22. Hiya, I am London based and started a while ago to focus on Leeds as my investment area. I have bought my first BTL in York about a yar ago and now looking to do student HMO's in Leeds around Headingley. It is article 4 yes, and while one does pay a bit of a premium for that you also get piece of mind of not having to worry about future competition (new HMOs pop up left right and centre these days) and a very low amount voids. So I don’t think it’s all bad. Also from deals i am finding, the number still stack up quite well (i.e. 15% ROI in a ltd with full mgmt.) Anyway, I started talking to a few investors focussing on that particular strategy and just posting this to connect to some more people that i could exchange knowledge and experiences with. But also interested to hear what you have to say about investing in an Article 4 area. I am very open to have a chat over phone or coffee, am just really keen to learn more and also share my knowledge. Feel free to contact me here or via e-mail: l.m.steinbrecher@gmail.com Thanks, Lars
  23. Hi everyone. I'm currently investing in HMOs and I have a question that I'm assuming most people involved in HMOs think about but I would love to open a conversation about it. When purchasing a HMO, the asking price is often, if not always, inflated because of the potential cashflow that these properties offer. However the "bricks and mortar" value is in reality much lower. I want to purchase a HMO property for a market value that is related to it's real cost as suppose to its inflated cost, to reduce the risk of loss if the HMO demand in this area decreases, and also to see capital growth in my property over the next few years, which tends to not occur as heavily in price inflated HMOs. However, there are no local comparables to help me assess the real cost because all of the local properties are HMOs with an inflated price. So my question is does anyone have any tips or tricks for assessing true market value without local comparables? Thank you in advance!!
  24. Hi, A bit of a complicated question but need some rough guidance. I'm looking at a 3 storey property that's for sale in a unfinished condition. It was a small 4 bedroom split into 2 flats that were being rented out. The current owner has let it fall into disrepair and had it structurally condemned in order to force the council to grant planning permission for a larger rebuild which would create 6 bedrooms split into a lower 4 bed and upper 2 but is clearly designed to be further split into 3 once built. They are now looking to sell for £500k with that planning permission in place. I would like to do something different and it would be my first and primary property but I might have to go with the granted planning given that it is an article 4 area. Assuming the upper flat is worth £400k on completion and the lower £800k there's 3 scenarios: 1. I retain both flats with me living in the larger and rent the other out 2. I sell the whole thing after living in it for 6 months without renting out the 'annex' 3. I just sell the upper flat and continue to live in the lower. For each what would be the tax payable and what structure would be best to follow if I did buy the plot and demolish and build? Would it be best classed as a self build or would I be better having the build costs as expenses in a company? What factors might I be missing? Thanks
  25. Wow! So many buyers from Hong Kong buy property in Manchester. I have been deal sourcing / investing in Manchester for years and I have never seen so much interest from Hong Kong. Nick - Smarter Property smarterproperty.net Are other people seeing a lot of new interest in Manchester?
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