Tim none

Registered with Property118.com
Monday 3rd November 2014

Latest Comments

Total Number of Property118 Comments: 3

Tim none

13:28 PM, 23rd February 2015
About 6 years ago

Am I converting my new property into an HMO?

Be careful to weigh up your extra income verses costs to convert to an HMO. It is sometimes more cost effective to sell and buy another property with the specific goal of turning into an HMO.

For example, a three bed house can be converted to five which is under the licence threshold (provided on two floors) and just two bathrooms would suffice. Cash flow would be more than double that of your two bed.

But, as you know, outer London areas are where HMOs really work best because yields are so high.... Read More

Tim none

11:20 AM, 22nd February 2015
About 6 years ago

What’s your Vote? Strategy Options for 15 yr Plan

Yield is important, but cash flow and ROI are much more valuable when trying to achieve your goals.

I routinely get 14% yield, but much more importantly, I ensure I am getting large cash flow of about £1,400 per month from each property.

The properties I buy are usually about £190,000 and so I am about to make about £17,000 per year on a £40,000 outlay. I always spend an additional £30,000 to add value and then refinance, but that it a separate issue.

So to conclude, I think maybe you should be looking at buying less properties but those which provide higher income. I only buy historically sound freehold town houses, but I convert to HMO to increase the income.

Hope that helps.... Read More

Tim none

15:21 PM, 22nd November 2014
About 7 years ago

Obtaining money by deception

It is sometimes worth finding a mediator to talk to trouble tenants and work towards an amicable resolution, however that may be achieved. You are probably too emotional and close to the situation to make them listen so (if it's ongoing) it's best to step back and use a third party.... Read More