Every time I will forget about how hard it is to deal with HMO properties and always think it is simple and easy. Thank you Jamie to list all of these, I just get all my terrible memories back 😂
100% agree on finding a good HMO agency. I work for a hmo management agency in Buckinghamshire and we are the only ARLA registered HMO in bucks. GOOD JOB on the vids Jamie... cant wait for the next one!!
Well....it seems Ive started backwards 🥴😀😂 selling land for New builds, buying ( cash )BtL terraces with good tenants in situ.....onto phase two....think I should go get a few mortgages and spread my dosh a bit further ! Great clear explanations , enjoying all the vids, and passing them into my son, who one day will take over ! Cheers 👍
My cousin done a hmo as a first time buyer, plus converted three bed to eight room most have on suite, so first time buyers do purchase HMO’s and it’s in London.
Hi thanks for the videos they are very informative Is there any chance you’ve made a video on hmos in article 4 areas the process and how you can get around it if possible as I’m an investor in Birmingham and most if not all of Birmingham is now article 4 Thanks
Another great video. Makes you think are HMO’s worth all the hassle that comes with them. However, what are your views if you’re a cash buyer. If you don’t have a mortgage to repay, when it comes to refinancing you can get more money out on a HMO that you can reinvest in other properties like buy-to-let
Hi Jamie. Thanks for the great content, I've been watching through all your videos. I'd love to see a video on when to start paying down BLT mortgages, instead of refinancing. With a max age limit at end of term of 80 on most BTL mortgages, do you need starting repaying them at 55-60? Otherwise surely you're faced with having to sell your portfolio eventually?
Interesting video. In my area, you can skip a lot of the HMO costs if you go for a four-bed instead of a 5 or higher as you don't have to get a licence.
Hi Jamie its a brilliant video. What would you advise to buy more off eg btl or hmo's? If you don't have much time eg young family to bring up? If you would buy to.hmo's how many would you suggest to buy?
Hi Jamie. Good advice. For HMO, Council is going to charge council tax for every room in the HMO. That really reduces our ROCE as the council tax can be from 1400 to2000. How do deal with such problem? Do the landlords in UK increase their rents due to the increasing cost?
Hi Jamie great video I'm looking into buying outright a 150 grand house to renovate would you consider either renting it out until fully or selling it out at renovated standard therefor in its best condition
Jamie, if you were to have a commercial unit of 2400 sqf with a blank sheet to you want you want, would you make it an HMO rather than 6 one-bed flats? Any difference in terms of build/conversion costs, which one is more favourable (HMO vs. a block of 6 one-bed flats)? I guess the HMO gives a better yield than individual flat even combined 6 rentals from flats. Right or wrong. Thanks in advance. God Bless.
The biggest single problem with HMO's is the non related people falling out, as their lives change there are disagreements, moving partners in/staying over etc.
You forgot to mention licence to pay to council for the privilege of having an HMO which average £1200 per year. Comparing buy to let and HMO I believe, is better done if you use ROI rather than yield. With ROI you get a clearer picture of what get you what.
Thanks for another great video, Jamie. I may have missed it, but isn’t another rather large difference between BTL and HMO the section 24 tax implication? I believe section 24 doesn’t apply to HMO, which is a huge tax consideration for many investors. Also, and sorry about this, the letter H is pronounced ’aitch’, not ‘haitch’. I’m only mentioning it because of how much it came up!!! ☺️
Spot on. A few investors in Hampshire/Berks with commercial finance just go for BTL now with higher deposits, as interest only mortgages allow them to net more than a HMO, without the hassle. Unless your aiming for a dedicated HMO portfolio of 100+ rooms and ideally an in house management team it's not as rosey as one might think. One HMO with a management company with 200 HMOs under management is not going to get the attention it needs.
Hi Jamie, what's the deal with btl mortgages getting tougher to get? I have 3 - last one I got Jan this year. I cant go via banks etc only via broker - BM solns etc. What's going to happen to make it even more difficult to get a btl mtg? Great videos 😃
Yeah the birth rate in the UK is actually in decline due to typically 2 or less babies per couple. In Scotland life expectancy has also been in decline since 2012. So population growth due to immigration
Jamie, are you aware it takes 2 people to have a baby (usually) - so your exponential growth of population because people have 2 kids doesn't really work!
Good content, however I disagree with your assessment of population growth. Replacement rate only needs a fertility rate (births per woman) of 2.1. Currently UK fertility rate is 1.68. Without immigration the population would be declining and immigration may lessen post Brexit. Many developed nations are facing population decline in the not too distant future. Italy for example may halve its population by the end of the century. It might have been more accurate to focus on household creation rather than population. The number of households may well increase as more people opt to live in single dwellings....
Every time I will forget about how hard it is to deal with HMO properties and always think it is simple and easy. Thank you Jamie to list all of these, I just get all my terrible memories back 😂
Glad it was helpful!
100% agree on finding a good HMO agency.
I work for a hmo management agency in Buckinghamshire and we are the only ARLA registered HMO in bucks. GOOD JOB on the vids Jamie... cant wait for the next one!!
Cheers Aaron!
Jamie you have the best advice and content. Thank you so much for sharing! It really means a lot. Wish you all the best 😊
Hi Jamie, your videos are interesting, informative & engaging. Thanks for making property more fun!
Aw thanks :)
Top advice from a guy who knows his stuff....great channel and fantastic content...well done👍
Thanks Paul, really appreciate that!
Not that I had any interest in dabbling in HMO's but that was an interesting comparison
Keep up the great vids 😉
Glad you liked it!
Yes! I've been waiting for this!
Glad to serve you!
Well....it seems Ive started backwards 🥴😀😂 selling land for New builds, buying ( cash )BtL terraces with good tenants in situ.....onto phase two....think I should go get a few mortgages and spread my dosh a bit further ! Great clear explanations , enjoying all the vids, and passing them into my son, who one day will take over ! Cheers 👍
You can do it!
Great video, really appreciate you putting it all in perspective! Very blessed to have this content shared to us!
My pleasure!
As usual great video, down to the nitty gritty
Much appreciated
Hi awesome video I'm thinking of starting just on average how much cash would we need upfront for our 1st property
You're the plucking best Jamie. 👌
Lol! Thanks, thanks for watching! 🤣🤣
My cousin done a hmo as a first time buyer, plus converted three bed to eight room most have on suite, so first time buyers do purchase HMO’s and it’s in London.
That’s incredibly impression. Well done to him. Smashed it 💪
Excellent analysis Jamie !
Glad you liked it! Thanks for watching!
Hi thanks for the videos they are very informative
Is there any chance you’ve made a video on hmos in article 4 areas the process and how you can get around it if possible as I’m an investor in Birmingham and most if not all of Birmingham is now article 4
Thanks
Another great video. Makes you think are HMO’s worth all the hassle that comes with them. However, what are your views if you’re a cash buyer. If you don’t have a mortgage to repay, when it comes to refinancing you can get more money out on a HMO that you can reinvest in other properties like buy-to-let
Jamie, I’m thinking of buying a house in Sheffield to rent to students. What sort of considerations do I have to make for these sorts of properties?
Yes big Jay, thoughts on leasing your hmo to social housing providers for a fixed term ie 5 years all minor maintenance covered by them and no voids?
@Jamie York, What are your thoughts on house of partial steel construction? leave well Alone?
Really useful video - could you do Airbnb vs BTL?
Good suggestion I did do a video about Serviced Accommodation which is here: ua-cam.com/video/T9ihTnwbGvQ/v-deo.html
Hi Jamie. Thanks for the great content, I've been watching through all your videos.
I'd love to see a video on when to start paying down BLT mortgages, instead of refinancing. With a max age limit at end of term of 80 on most BTL mortgages, do you need starting repaying them at 55-60? Otherwise surely you're faced with having to sell your portfolio eventually?
I plan to never sell them and create generation wealth. I buy properties within a LTD company :)
Excellent analysis
Interesting video. In my area, you can skip a lot of the HMO costs if you go for a four-bed instead of a 5 or higher as you don't have to get a licence.
Interesting!
What is your area please Ellis
Hi Jamie its a brilliant video.
What would you advise to buy more off eg btl or hmo's? If you don't have much time eg young family to bring up?
If you would buy to.hmo's how many would you suggest to buy?
Hi Jamie. Good advice. For HMO, Council is going to charge council tax for every room in the HMO. That really reduces our ROCE as the council tax can be from 1400 to2000. How do deal with such problem? Do the landlords in UK increase their rents due to the increasing cost?
Surely the people renting pay the Council Tax?
Watched it all😂finished so early man
Haha! thank you!
Hi Jamie great video I'm looking into buying outright a 150 grand house to renovate would you consider either renting it out until fully or selling it out at renovated standard therefor in its best condition
Depends what your strategy and end goals are! I always look to keep my properties for the long term!
@@JamieYork thanks so much I just needed reassurance on my goals as was unsure
Jamie, if you were to have a commercial unit of 2400 sqf with a blank sheet to you want you want, would you make it an HMO rather than 6 one-bed flats?
Any difference in terms of build/conversion costs, which one is more favourable (HMO vs. a block of 6 one-bed flats)?
I guess the HMO gives a better yield than individual flat even combined 6 rentals from flats. Right or wrong.
Thanks in advance. God Bless.
Completely depends on the area tbh Nikki! I'm a big fan of blocks of flats tbh as it derisks a lot of it!
Great content as usual 👌🏿
Glad you think so!
The biggest single problem with HMO's is the non related people falling out, as their lives change there are disagreements, moving partners in/staying over etc.
People are complex
Get a hmo manager
Hi Jamie, I'm looking to start in the property industry as I'm unemployed, what advice would you give in terms of what job should I look for
Come on what chance have you got in property investment, if you can’t even decide what job to take .
@@2024-s2n not trying to invest yet 🤣🤣🤣🤣🤣🤣🤣 looking for advice on jobs inside the property industry smh
I'd look at either working as a Deal packager or even a trades who are working closely with landlords
@@JamieYork do I need a qualification for that also I'd like to know about the courses you provide or is it better to contact via Instagram
Perfect, thank you
You're welcome!
Please could you do a new video based on the new legislation.
Can I buy a house for living myself and just rent a room in Airbnb? Is that legal?
Yes
Consider also renting out a room more long term. Websites like Spareroom.co.uk to advertise your room and find guests.
You forgot to mention licence to pay to council for the privilege of having an HMO which average £1200 per year. Comparing buy to let and HMO I believe, is better done if you use ROI rather than yield. With ROI you get a clearer picture of what get you what.
do your homework, initial cost is £1420 and they last 5 years and the renewal cost is £1100
Thanks for another great video, Jamie. I may have missed it, but isn’t another rather large difference between BTL and HMO the section 24 tax implication? I believe section 24 doesn’t apply to HMO, which is a huge tax consideration for many investors.
Also, and sorry about this, the letter H is pronounced ’aitch’, not ‘haitch’. I’m only mentioning it because of how much it came up!!! ☺️
My pronunciation is useless 😂
Still section 24 on HMOs mate
It's pronounced haitch where I'm from. Ever hear of a dialect?
@@Parmesito and what dialect does Jamie have?
@@acxezknightnite1377 one doesn't have a dialect, one speaks a dialect.
Spot on. A few investors in Hampshire/Berks with commercial finance just go for BTL now with higher deposits, as interest only mortgages allow them to net more than a HMO, without the hassle. Unless your aiming for a dedicated HMO portfolio of 100+ rooms and ideally an in house management team it's not as rosey as one might think. One HMO with a management company with 200 HMOs under management is not going to get the attention it needs.
Great point!
‘Great Britain is an island so you cannot expand it and build more houses’?
Well, Switzerland is not an island and you cannot expand it either 😁
😂💪
Hi Jamie, what's the deal with btl mortgages getting tougher to get? I have 3 - last one I got Jan this year. I cant go via banks etc only via broker - BM solns etc. What's going to happen to make it even more difficult to get a btl mtg? Great videos 😃
Things always change but as long as everything is above board you'll still be able to get a mortgage
@@JamieYork yes indeed all above board. Just getting all the mountain of docs they want! Thanks for your reply 😃
That would not represent expenential growth as it takes 2 people to have a child. You need them to have 3 kids for growth.
Yeah the birth rate in the UK is actually in decline due to typically 2 or less babies per couple. In Scotland life expectancy has also been in decline since 2012. So population growth due to immigration
BTL just seems easier overall.
Liked👍😎
Thanks ✌
Jamie, are you aware it takes 2 people to have a baby (usually) - so your exponential growth of population because people have 2 kids doesn't really work!
Wait, what?! That’s where I’ve even going wrong 😂
Education
Thanks for reaching out! Go to bit.ly/aspireeducation and fill in your details :) Looking forward to growing together!
@@JamieYork hi there keen to get going. Haven’t started yet and have about a 300k mortgage available. How do I get hold of you?
Good content, however I disagree with your assessment of population growth. Replacement rate only needs a fertility rate (births per woman) of 2.1. Currently UK fertility rate is 1.68. Without immigration the population would be declining and immigration may lessen post Brexit. Many developed nations are facing population decline in the not too distant future. Italy for example may halve its population by the end of the century. It might have been more accurate to focus on household creation rather than population. The number of households may well increase as more people opt to live in single dwellings....
Some really great notes here David. Maybe households instead of population is the best way to look at it moving forwards
HMO
'aitch. it's not haitch.
I’m glad you got value from the video 😉 😂