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Showing results for tags 'hmo sourcing'.
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What advice would you give for someone looking to get into HMO's to begin with? Lucky enough to be at a young age (17) and would greatly appreciate any advice that can be given from anyone who has had or currently owns HMO's and what would they do differently if they were to start again/ what mistakes to avoid if possible. Thanks
Hi all, I’m looking to add to my small single BTL portfolio by adding 1 or 2 HMOs. I’m based in the Essex but really open to location as I would use a managing agent anyway. Ideally I would like to buy established HMOs from landlords who are looking to cash in and get out of the ever-evolving BTL market, however, would happily work with an experienced sourcer to purchase a property that needs converting too. In terms of purchase price, the cash I have available is approx. £200k so of course it will depend on whether it’s an existing HMO with little/no work needed V a property for converting. I estimate an existing HMO up to £250-275k and a conversion around £200k. Please feel free to correct me if you think my figures are off! Does anyone know a way to find landlords who are looking to sell their portfolios? Or if anyone can point me in the direction of a good sourcing agent that would be great. Any advice or suggestions of any kind are gratefully received, thank you in advance.
Hi all. I was wondering if anyone had any experiences, good or bad, of working with Better Sourced Ltd? They are a sourcing company that seems to specialise in high yielding HMO properties, targeting 20 - 30% ROI. They claim to vet the properties such that they only pass on opportunities to their clients that they would invest in themselves. They also provide services / will recommend companies that will take care of any refurb and manage the HMP property going forward so that you can be pretty hands off if you prefer. More generally, do people think using a sourcing company for a first venture into HMOs would make sense? Many thanks