Usually when you choose a HMO strategy you need to invest pretty close to home as it can be quite a hands on strategy.
But that’s not a problem for today’s guest, Tim.
Tim invests in student HMO properties 300 miles away from his hometown. And, he does absolutely everything himself.
HMO strategies are becoming more popular and we often get questions on the best way to execute them.
If you’re not familiar with what a HMO is, it stands for House in Multiple Occupancy. So basically where you rent the rooms out individually and have shared communal areas like the living room and kitchen.
The reason they’re so popular is that they’re on the high end of the cash spectrum and the yields can be very attractive. But they’re also on the high end of the effort spectrum.
So, today we’re talking to Tim who’s been investing in property since 2017 and his portfolio consists of five HMO’s with a total of 28 rooms.
All of his properties are in Bangor, North Wales and are 300 miles away from where Tim lives.
We wanted to find out how Tim became a landlord managing 28 rooms and why he chose the location he did.
If you’ve been thinking about choosing a HMO strategy then Tim’s success story could be some great advice for you.
This week’s news story is from Landlord Zone and the headline reads ‘step away from ‘disastrous’ rent controls campaign, landlords urge Sadiq Khan’.
The current Mayor of London is wanting to continue with his plans for rent controls if he’s re-elected later on this year, and landlords aren’t happy about it.
However since the last time Sadiq Khan was campaigning for this, rent prices in London have gone down by 9.8% according to Zoopla whereas outside of London they’ve increased by an average of 2.6% over the last year.
So it doesn’t stand well right now for Saidq Khan’s campaign methods.
This week’s Hub Extra resource comes from our Podcast Producer, Dan.
It’s a YouTube channel called TED-Ed and it’s an extension of TED Talks but in the form of short, five minute educational videos on all sorts of topics.
The videos may appear to be specifically for kids, but Rob & Rob have already bookmarked ones they’re going to be watching themselves.
We’d love to hear what you think of this week’s Property Podcast over on Facebook, Twitter or Instagram. You might even have a topic you’d like us to cover in the future – if so, pop us a message on social and we’ll see what we can do.
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