£200k released from HMO sale?

by Readers Question

8:27 AM, 4th February 2019
About 5 months ago

£200k released from HMO sale?

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£200k released from HMO sale?

Hi there. I’m soon to be selling an HMO and will realise around £200k profit.

I live in the south east, aged 54, have a couple of other rental properties, but want to reinvest this money to produce maximum income.

I don’t want flats.

How would you invest it and why?

Many thanks

Sharron



Comments

Neil Patterson

8:29 AM, 4th February 2019
About 5 months ago

Hi Sharron,

If you or someone close to you has a profession or trade that translates into property that can be a great place to start building a strategy.

Sjp

9:52 AM, 4th February 2019
About 5 months ago

Reply to the comment left by Neil Patterson at 04/02/2019 - 08:29
Hi Neil. I’m not sure what you mean?

russell branch

11:27 AM, 4th February 2019
About 5 months ago

Try BuytoLetCars who pay 11%.

https://www.buy2letcars.com/

Dain Norman

16:12 PM, 4th February 2019
About 5 months ago

Hello Sharron,
Where in the southeast are you? There is a whole host of options out there depending on which end of the spectrum you want to be. One end being a proactive and sophisticated investor and the other end being a play it safe investor. If you would like to discuss options or arrange a meeting let me know and I will send you my contact details.
Look forward to hearing from you.
Thanks
Dain.

Lesley Thomas

13:58 PM, 9th February 2019
About 5 months ago

I would recommend looking into Holiday Lets (HL). They don't attract the same (increasing) restrictions and regulations as BTL's and you can claim Capital Allowance (tax relief on profit) on them if it has not already been applied for or used by the previous/current owners. This is because they are classed as a commercial property. We have a Holiday Let apartment (for sale) in a historic Abbey on Loch Ness in Scotland. It has an indoor swimming pool and other facilities to keep guests occupied. I market it using, for example, HomeAway, AirBnB and Trip Advisor. We have an on-site manager to meet and greet guests and arrange the change-over/cleaning etc. It attracts a net annual return of 7-8%. Our HL already has £29,180 of unused Capital Allowances to pass onto a new buyer/owner. I am currently taking lots of bookings for this year. We also use it for our own holidays and have let friends and family use it as well. I am happy to discuss the potential of a HL with you or any other Property 118 Landlords as an alternative to a BTL.

Colin McNulty

6:56 AM, 18th February 2019
About 4 months ago

Given that HMOs are meant to give one of the best returns of any property investment (other than serviced accommodation), why are you selling a HMO but after a "maximum income" investment?


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