11:20 AM, 20th October 2022, About 11 months ago
Due to current high-interest rates and even higher affordability stress tests, many BTL single let properties just don’t stack up, so you can’t get a mortgage on them at the moment. Does this mean the end of property investing?
If you are just doing single lets, then it will be very hard to acquire more property right now. However, one of the best strategies that works really well right now is Houses of Multiple Occupation (HMOs), thanks to increasing demand, very high cash flow and monthly profit.
The demand for rooms in HMOs is on the rise due to the recession and people not being able to afford to live on their own.
HMOs are seen as a more advanced strategy, but once you know what you are doing they can be straightforward. There is no reason that your next property acquisition should not be a high cash flowing HMO.
The problem is that most investors don’t really understand HMOs. They get confused about licensing and planning requirements and think they are a lot more management. The truth is, you don’t need to be managing them yourself.
A good HMO should make at least £1000 profit per month, so most people wouldn’t need many of these to replace their income. How many would you need? You could say that it is the perfect time to be adding HMOs to your portfolio, to give you extra cash flow, as long as you know what you are doing.
With this in mind, Simon Zutshi has just released a 3 part Mini Course all about HMOs, which will bust many of the HMO myths and fill in some of your knowledge gaps.
You do not want to miss out on this valuable training, virtual tour and PDF as it will only be available at no cost, for just one week.
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