Hmo Demand And Locations-www.ggg258.com

My own involvement in property investing spans 15 years and if I had 1 for every time I had been asked the question where to invest Bill Gates would have very serious competition believe me. This brings us to the subject of this weeks newsletter LOCATIONS. Everyone would love to be able to invest in their own backyard and I am all in favour of that where the figures work! Open your mind to the possibilities afforded by investment in HMOs. As a professional investor I need to know one thing above all else when I invest, I need to know that I have DEMAND. I could have the best property in the world but where this is not matched with strong demand for my property the whole exercise is fairly pointless as many with two bedroom new-build properties in Leeds and Manchester would currently testify. When I invested in my first BTL property (a two-bedroom flat) in the trendy West End of Glasgow, as a novice I thought that I was giving myself the best chance to attract young professionals who wished to be near both the City and some nightlife at night and at the weekends. My research then was nothing like as comprehensive as it would be now. In those days the best place to advertise your flat for rent was in a certain local newsagents window advice cheerily imparted to me by a locally based painter helping me complete a forced appreciation of this property. It is my opinion that the internet has changed all that. Later in the course I will discuss the potential tenants for your properties whether they be students, key workers, young professionals, asylum seekers etc. When I invest I look at several factors I must know what the demand is and that the demand is a strong healthy and constant demand that does not fluctuate with seasons. I must know my room rental rate, similarly I must be aware if there is a clear differential in local rental rates between single and double rooms. Finally I always look for forced appreciation I try to see value that others fail to see i.e. the ability to add additional rentable rooms and accordingly additional rental income. As I mentioned above the internet has made life so much simpler for the investor such that there are few unknowns. The two most popular and extensive of these sites remain in my opinion Easy roommate (www.easyroomate.com) & Spareroom (www.spareroom.co.uk) There are others such as Flatmateclick (www.flatmateclick.co.uk) and Roomsintown (www.roomsintown.co.uk). Prior to next newsletter check the above sites out particularly the first two and consider your own town to start with and move on from there. 1. Pick a location at random and seek to establish what the demand is how many people are looking for rooms and how many rooms are currently available. 2. Start getting to know the room rental rates (not to mention standard) in your chosen locations and start running the numbers and consider what your rental income for a 5/6 bedroom property would be. 3. Start looking at properties in your elected location www.rightmove.co.uk is as good as any for this process remembering that you are now narrowing your focus solely down to properties comprising three bedrooms and over. 4. Start looking at property values in your elected location and start trying to allocate a value to each rentable room. If for example your 4 bedroom property with minor renovation was capable of being turned into a 6 bedroom property and the buy and renovation total cost was 180k you have a buy price of 30k per rentable room. 5. Now consider each room as if it was a hotel room, how much would the mortgage be on each 30k (or the relevant buy price of the rentable room) and how does this compare with the rental income. Consider this only at present as I will go into additional on-costs and budgets in more detail later in my e-course. Debra J Rice is an extremely successful Property Investor and Property Developer. A former nurse Debra has mentored people throughout the UK in all aspects of Property Investment. Debra is the Author of HMOs The Cash Generators. Debra’s goal is to facilitate financial freedom for others through motivation and education. To obtain your free 8 part e-course enabling you to enable you to GAIN MAJOR PASSIVE INCOME through property investment, please visit .www.hmomentor.co.uk. About the Author: Debra J Rice is an extremely successful Property Investor and Property Developer. A former nurse Debra has mentored people throughout the UK in all aspects of Property Investment. Debra is the Author of HMOs The Cash Generators for Debra’s ever popular free e-course on property investment visit .www.hmomentor.co.uk. Article Published On: ..articlesnatch.. – Real-Estate 相关的主题文章: