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Hi, I live in Scotland and invest here but am now wanting to invest in England instead, particularly HMOs in Newcastle. I've read such conflicting advice online about whether all of Newcastle is going to be restricted for getting HMO licenses? Can anyone advise? Last thing I want is to buy houses that then can't be used for strategy I want. I've looked online for specific groups for Newcastle LLs and can't find any either. Thanks so much!

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

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

Hi everyone, I'm new to the hub and the world of property investment. I have lived on the Isle of Man for the last year, but will shortly be moving back to the UK (Manchester) in October to take up a new job and start my property investment journey! I'm trying to determine my strategy and would appreciate peoples thoughts. I've outlined my objectives, circumstances and available capital herein... Objective Create circa £5k monthly net income (before tax) from property within the next 5 years Circumstances and Available Capital/Equity I own a flat in South Manchester that is currently let to professional tenants; £250k value £85k mortgage, £400 p/m £1,050 p/m rental income I will need a place to live upon returning to the UK i.e. move back in to the property that's currently let out or buy something else to live in (I may rent initially) £20k in savings My job will NOT be 9-5 and will allow me to be quite hands on with the property side of things Total equity + savings circa £185k, but with the need to use some of these funds to purchase a residential property (assume £350k, 20% deposit = £70k) Estimated initial capital £115k Given I have the time and appetite I'm leaning towards a route of trying to develop a number of HMO's, but would welcome peoples comments and advice. Thanks!

Hi, Has anyone had any experience on refinancing from a single occupancy dwelling into a HMO? The plan simply is to turn a single occupancy property into a HMO and pull the money out after a period of time to do the same. The deal would be done through a LTD company, so if there's any further advice to add to this situation it will be gratefully received. TIA Mike

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

Hello to all, I'm Iain Large, Along with my business partner in Dubai, we have two 3 bed's and one 9 bed HMO in Chelmsford (our preferred area of interest) through Connection Investments Limited formed in 2013 when we decided to start investing together again after a lucky previous exit in 2008! Having let the business tick away for the last 5 years it's now full speed ahead! With space to build a couple of two beds in Chelmsford on different sites we formed Connection Construction Limited with a builder we've known for many years. Under our Construction banner we work for others as well as on our own developments - so if you're looking for a builder who'll be straight with you then feel free to give me a shout. We've been landlords for 9 years and our construction foreman has been building for 20 years so happy to offer any advice/contacts we can and always interested to learn what others are up to. We're specifically interested in, BTL opportunities locally, development opportunities all over Essex and partnering on developments. We have backing and money to spend, on the right deals... Or first build for ourselves starts as soon as the solicitors give the green light so if you're interested in the building side or just meeting up to see how we can help each other then please don't hesitate to contact me. Thanks Iain Large

We have set up our Limited Company this month, it will do flips (to expand the investment pot) and later on it will start to buying-refurbishing-managing HMOs. We are in need of an accountant and would prefer one that also invest in property. Does anyone know one preferably based in London?

Loren ipsum..

Hi guys, Anyone got any experience or advice for successfully investing in HMOs in a different city? I'm based in London and am looking to invest up North (more affordable). Thanks

Hi, I am new to the property investment game. Looking to flip properties in the Leicestershire area, buying at 100 -125k and then potentially trying my hand at HMOs. Would like to build some contacts around this area as well as hopefully receiving some of your expert knowledge on flipping and HMOs in this price region. Thanks Graham

Hi all, I’m Drew, I’m introducing myself as a newbie here. I’ve been listening to all the podcasts, reading the magazines and looking forward to attending the meet ups. I’m living in SE London and am a landlady with a small portfolio of single lets in Cardiff. I’ve also just completed a 3 bed 2 bath refurb which I’m selling to buy my own home in S/SE London. I used to own and manage a portfolio of properties with my ex-husband and we had efficient systems in place with no void periods and increasing rents. We had lots of happy tenants - integrity, good quality homes and tenant satisfaction are all really important to me! The plan is to increase monthly cashflow with the R2R strategy which would then finance refurb projects in Cardiff or London (along with JV and bridging finance) next year. I’ve been running the figures in my spreadsheets (thanks Rob & Rob) and the stats look pretty good although obviously there is some initial investment required with furniture, redecorating the properties, HMO regs, insurance, licence etc. I’m looking to pair up with someone who wants to join me in the S/SE (maybe E) of London e.g. Tulse Hill, Brixton, Streatham, etc. as I think that 2 heads would be better than one and sometimes working on your own in property can be hard going! It would be nice to have someone to bounce ideas off and tackle sales, dealing with agents, viewings, financials/legals etc. I have another business that I dedicate about 10 hours a week to so my schedule is pretty flexible and I'm raring to go. If anyone is interested, please drop me a message! Thanks, Drew

Listen to the latest podcast here: http://thepropertypodcast.com/2016/06/tpp170-how-to-make-hmos-work-for-you/ Many investors are drawn to HMOs by their seemingly high returns, but then deterred (us included) by the amount of work they seem to involve. And there’s no getting away from it: HMOs are more effort than your standard single let. Nevertheless, there are steps you can take to boost your chances of making HMOs work for you – including some handy “HMO hacks” to automate or delegate a hefty portion of the management. This week R&R talk about: How to identify a suitable HMO location Why you need to think very carefully about the spec and the services Options for outsourcing the management Some self-management systems you can put in place to drastically cut down your time input What might be ahead for the sector So, are you already successfully managing HMOs, and what are your tips for making these work for you?

Hi! I’m Steve. I’m a full time landlord (but only work part time if that makes sense) and predominantly own and manage my house shares. I rented my first rooms out in my own house in 1997, but being young and a little slow, it took me to 2003 to realise I loved doing it and just as importantly, could monetise it! After reading Rich Dad Poor Dad and The 7 Habits, I was able to replace my earned income (about £100pcm) in 4 months so went part time and quite my job a year later. I’ve built my portfolio up to 105 rental units since then (across 28 properties). I hand pick all my customers but outsource the general day to day grind of being a landlord to my Filipino Va’s (Who are ace!) and a small, but local set of trades. (Who my VA’s manage) I love systemisation and generally work around 15-25 hours per week. (50% of that time in my business, 30% on my business/self and 20% of my time I waste (but wish I didn’t!)) My three main focuses’ these days are making incremental increases to my Health, wealth and happiness. (Slightly clichéd, but works well for me!) My specialities, where I can help others I guess, are in: - Outsourcing the marketing and day to day landlord stuff. - Creating systems and processes for looking after customers (I don’t like the ‘T’ word) - General experience I’ve gained in being a landlord for nearly 20 years. I would like to learn more about / how to: - Convert Commercial units (Offices, pubs etc) into HMO’s or self-contained units/Studios. - Exit strategies (I’m 41 but want to be out of the day to day landlording stuff by 45-50) - Stay in the game! (I’m a property hermit, which although time efficient, is counterproductive) Steve

Hello all - I have been a quiet member of the property hub for quite some time. I have certainly underused this networking opportunity.... the reasons for my silence are possibly because I'm a bit shy, I feel I may not be experienced enough to have a voice and I am also time poor with 3 young children!!! I need to break out of my comfort zone and start making connections so that I can speed up my learning... and actions!! I am using the questions that Rob suggests for the introduction... so here it goes: Q.What I have done in property so far?I have one vacation rental property in Playa del Carmen, Mexcio. This property was refurbished in 2004 and has been let out and managed by a great agency in Playa del Carmen. I have one HMO property in South West London. This was purchased in July 2014. I purchased it fully tenanted and refurbished it over the past 9 months while tenants were in situe (i.e. painted, new bathroom, re-structured to add 1 bedroom). I exchanged on a property yesterday in South West London. This will be a buy to let property rented to a single family for the next 2 years then it will be turned into an HMO. Q.What areas you invest in (or want to invest in)?The areas I invest in and want to invest in are for the moment South West London around/near Heathrow airport. Q. What your plans are for the future?Immediate plans - to refurbish new property by mid July & rent out Short Term - Mortgage Mexican villa. Continue making offers in September/October and purchase property by December - this is to be a house that I will convert into an HMO. Mid-term - Investigate JVs and start talks and ironing out terms. Purchase 2 to 3 more properties in 2016. Long-term - build a portfolio that will replace our current family income plus £100000/yr Additional interest: I would like to convert commercial buildings into large HMO's in the future. This idea of Micro units is interesting.... watching how this works out in NY. Also I will continue reading as much as possible to keep widening my outlook on property and life in general!! Q.Any skills or knowledge you've got that other members might benefit from?Background in Investor Relations, Marketing, Design... speak spanish & french.... have been told by my tenants that I have been a great landlord... (?) So that is my introduction... Hello to all - I have set myself a challenge to visit and interact on this site for the next 30 days... It will hopefully then become a natural habit and will widen my knowledge & network.

Hello, Can anyone recommend a good letting agent in Edinburgh who deal with letting HMOs to students? Thanks! Fiona

Hi everyone, I am brand new to the forum and it is great to 'meet' you all. My husband and I are looking into our first investment property in Brighton and we are considering either an HMO or a 1 bed flat buy to let (or two). My main question relating to HMOs in Brighton - have we missed the boat for this year? I assume HMOs mainly caters for the student market and this tends to rotate on an annual basis. Thanks in advance for any insight. Ruth