hi matthew, ill be hearing you at reht lewis seminar on this 25 april, in case i dont get to speak to you could you provide your views on a possible hmo purchase comint to a auction end of april. Its above a dentist , its a semi maisonette style set over two floor, being first and second as ground is the dentistry, 900 year lease remaining, four very big bedrooms , large lounge kithchen and bathroom, very little work required and its overlooking a park so good views and very well located walking distance to bristol centre. my question does this sound like a possible good hmo and will i be able to sell on again when market goes up.
i hope you can reply soon before the auction , if you want to pass me your tel i could call you.
See you at the seminar rgds joe segura mob 07971827239
Hi Joe, good to hear from you and I look forward to speaking to you at the weekend – make sure you come up and grab me!
OK, the HMO sounds like its possibly a maximum of four rooms – unless you can convert any of the rooms into more rooms?
Are you buying the commercial unit as well as this may impact on the type of loan you can get?
Depending on what market you are renting too, you could get up to £400 pcm for double rooms in that area so depending on the cost of the unit (which you haven’t mentioned), it may be a great buy or it could be a poor buy – I’m not sure on the limited information you’ve given me.
The location does sound good though so make sure you speak to me at the weekend.
Hi Matthew
I have a possibility of buying an HMO property worth producing income of around £40,000 pa. I would need to borrow about 60/65% of the value and wondered if you could recommend any lenders i can go to?
Thanks for your help.
Kind regards
James
James, try Aldermore Bank. Beacon. Tiuta. Natwest.
Hi Matthew,
We are looking forward to learn and network with you at MK Property Meet on 11th May 2011 🙂
Speak soon,
Sharad
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