Selling Strategy for 9 Bed Guesthouse

[hughl]

Hi,

We are new to property investment but are looking for a strategy to maximise return from our Guesthouse sale/ development. We are in the Centre of Oban, Scotland and are roughly 40%ltv so are agonising whether to convert to HMO, sell as is, or do a flat conversion. If anyone has any suggestions or alternatives, that would be welcome

Thanks

Hugh

[Kylelockhart]

Hi Hugh

I see this is a fairly old post, but interested to see how you got on with this ? I think Oban has a growing dempand for HMO properties due to the growing student population.  I often see posts on Facebook from students looking for accommodation.

 

[hughl]

We actually decided that there was insufficient demand locally due to slowdown of student demand during covid. Instead we have decided to become less involved in day to day running by outsourcing tasks such as cleaning and laundry and focus on developing the land surrounding the property by subdividing the plot. We will post more in the future