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Beginners HMO advice


mitchp

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Hi All,

 

I am a 25-year-old property investor based in Essex who started out about a year and a half ago now, and currently have two properties under my belt.

I have been thinking about selling my first investment property, as It is tying up a lot of my money and isn’t giving me a good enough return (re-mortgaging doesn’t release much in this situation). Once sold I should be left with £90K after fees and tax.

I am looking to put this money in to a couple of HMO’s aimed at professionals in the midlands or maybe further north E.g. Liverpool, as I would like to increase my monthly income and get maximum ROI. However, I have no experience with HMO’s and would like some advice and tips.

With regards to research I have done some on Rightmove and spare room, but I would like to speak someone with some HMO experience or someone who deals with or manages HMO’s in the middles or in Liverpool… etc.

Sorry if this comes across vague and a bit amateur, any advice is appreciated.  

 

Thanks

Mitch

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