Great video and good points, thank you for sharing! I’m just unsure on the calculations that you had for your HMO. With the 50k profit, is a lot of that still in the property? As the LTV given by lenders is a certain percentage of the end value, are you assuming the 50k profit is when you fully sell? Sounds like a banging deal though! To bring that much value out of a house, always a bit curious about the growth potential of HMO conversions
Thanks for the advice, Jack. I have some questions, do you need a HMO licence if it is a small property, let us say a 3 bedroom house with three separate tenants. And secondly, does the HMO concept work in towns as opposed to cities? Thanks 🙏 John
Hey John! It depends on the area. If article 4, yes. If outside of article 4, you don’t need a license, typically. You’re best looking on what the local councils requirements are which is usually shared on their website. I find HMOs definitely work in large towns and are a great option. I’m doing a lot in large towns at the moment as most cities are covered in Article 4
✅ Our Free Property Investment Playbook: bit.ly/4gg9Zft
Great video and good points, thank you for sharing! I’m just unsure on the calculations that you had for your HMO. With the 50k profit, is a lot of that still in the property? As the LTV given by lenders is a certain percentage of the end value, are you assuming the 50k profit is when you fully sell? Sounds like a banging deal though! To bring that much value out of a house, always a bit curious about the growth potential of HMO conversions
Thanks for the advice, Jack. I have some questions, do you need a HMO licence if it is a small property, let us say a 3 bedroom house with three separate tenants. And secondly, does the HMO concept work in towns as opposed to cities?
Thanks 🙏
John
Hey John! It depends on the area. If article 4, yes. If outside of article 4, you don’t need a license, typically. You’re best looking on what the local councils requirements are which is usually shared on their website.
I find HMOs definitely work in large towns and are a great option. I’m doing a lot in large towns at the moment as most cities are covered in Article 4
@jackdavidsmith Okay thanks for that, Jack. I really appreciate the advice. I am definitely considering going down this route with my next property.
Hi Jack ! Would you help in finding property and refurbishing as well ?
@@shalinisharma9063 absolutely, that’s what we do. Check out the website: tpnuk.com