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Thank you for your effort Vanessa. Really appreciate it. Is there aby chance you can direct me to the page on Facebook at all? Maybe I can try and locate it.
It is under Vicki's own name, Vicki Peers, so easy to find.
Vanessa Warwick Landlord and Co-Founder of PropertyTribes.com **If you have got value from Property Tribes, find out how you can support it in remaining a free to use community resource**
Thanks. Managed to locate the video. I will be pulling out of this deal now. Appreciate your help.
I’ll ask someone to share my video on the tiny 2 bed houses that are being converted to 3 beds.
I’m new to Property Tribes.What did you buy in that area? A single let will be fine.
Thanks for your response. It is a 2 bed that has been converted into a 3 bed. I did initially think it was small but because there are students there already, I thought it may just work.
I look forward to seeing your video and thanks again for getting in touch.
Thank you so much for your time and feedback. This was my first post on this website and amazed by the each of your efforts.
Its really appreciated.
Really stuck in two minds what to do....does anyone know of somebody that has a decent portfolio of HMO properties who would provide 1-2-1 mentoring sessions? or somebody i could pick their brains when needed.
We looked at Liverpool HMOs last year and would echo a lot of the sentiments here. One of the reasons that 6 beds in particular were so popular is that is the largest number of bedrooms that you can have in a class C4 HMO which you could convert a residential (C3) property into under permitted development. To go over 6 beds you fall into a new category (sui generis) and need full planning permission.
Overall it seemed quite a fickle market with areas going in and out of favour quite quickly which was concerning. Also the amount you have to spend on keeping it in good condition vs the overall capital value is quite high. We didn't end up investing.
This has been very useful. Thank you. I was hoping to invest in an HMO because the higher yield and ROI has been very tempting. I have just formed a Limited Company (SPV) to invest more tax efficiently for me and was looking into investments that would make my money go further. The plan is to simply put the rental income back to more investments as I dont plan to draw any of that until I retire.
Liverpool seemed to have properties that are in good condition and cheaper than areas like Manchester but not sure now whether a 4 bed HMO would be too much of a risk now .
I have recently had an offer accepted on a residential property on L14 which may yield around 7% with a 13-14% ROI. Do you think I should go for that instead ? rather than look for an HMO.
If not Liverpool, where else are HMOs still relatively easier to do and expect to get a good ROI ? any advice would be much appreciated. Thanks