The HMO Podcast - Your First HMO Property Investment - 6 Key Steps To Success

Your First HMO Property Investment - 6 Key Steps To Success

08/02/23 • 30 min

1 Listener

The HMO Podcast

Are you at the beginning of your HMO journey but feeling unsure and overwhelmed?

In today's episode, I want to share the six most important things you need to nail if you're getting started with HMOs. These steps are crucial for building a strong foundation and setting yourself up for success.

We’re going to talk about:

The importance of understanding HMOs
Finding the right property
Legal requirements and planning permissions for HMOs
Financing HMOs
Renovation and conversion strategies for HMOs
Finding and managing HMOs

Now, keep in mind that this episode is an overview. To really master each aspect, you'll need to dig deeper and explore more resources. The good news? There's a wealth of tools and information available to fine-tune your HMO strategy.

By the end of this episode, you'll feel more confident and ready to take that leap of faith. Let's get started!

Please leave us a quick review on Apple Podcasts or Spotify if you find this episode useful.

Got any questions? Ask us in The HMO Community Facebook Group or follow me on Instagram @andygraham.hmo for daily HMO tips and advice!

If you want to join my 1-2-1 mentoring program, you can enquire here.

New to HMOs? Join The HMO Roadmap - an exclusive community and online learning platform for HMO property investors. As a member, you’ll get access to online training, group coaching, a deal stacker tool, case studies, contract templates and more resources to help you start, scale, and systemise your HMO business.

Are you at the beginning of your HMO journey but feeling unsure and overwhelmed?

We’re going to talk about:

The importance of understanding HMOs
Finding the right property
Legal requirements and planning permissions for HMOs
Financing HMOs
Renovation and conversion strategies for HMOs
Finding and managing HMOs

By the end of this episode, you'll feel more confident and ready to take that leap of faith. Let's get started!

Please leave us a quick review on Apple Podcasts or Spotify if you find this episode useful.

Got any questions? Ask us in The HMO Community Facebook Group or follow me on Instagram @andygraham.hmo for daily HMO tips and advice!

If you want to join my 1-2-1 mentoring program, you can enquire here.

Previous Episode

Doubling Your Profits From Supported Living With Chris McDermott from NW Living

Supported living isn't necessarily the first thing that comes to mind when we think of HMO investment but what if I told you that you could potentially double your profits from the same properties by following this model?

In this episode, I'm excited to be joined by Chris McDermott, one-half of NW Living together with his partner Cat.

NW Living specialises in converting neglected properties into high-end accommodations for Supported Living providers. Over the last 5 years, they have successfully built a lifestyle business that allows them to prioritise family time alongside their passion for property development.

During our conversation, Chris and I discussed:

The story behind their passion for HMOs
How they transitioned from professional lets to supported living HMOs
The challenges and learnings in doing supported living HMOs
The Importance of making the right connections with charities and asking the right questions when getting finance
Compliance constraints you need to be aware of when working with charities

Please leave us a quick review on Apple Podcasts or Spotify if you find this episode useful.

Got any questions? Ask us in The HMO Community Facebook Group or follow me on Instagram @andygraham.hmo for daily HMO tips and advice!

If you want to join my 1-2-1 mentoring program, you can enquire here.

Next Episode

Important Update On Lender Due Diligence, Plus Reactions To Latest Rate Hike With Ellie Broadhurst

In this episode, we delve into the recent increase in the base rate, marking the 14th consecutive rise. Currently standing at 5.25%, this change has significant implications for HMO property investors like you.

To shed light on this matter, we've invited Ellie Broadhurst, our go-to specialist mortgage broker at The HMO Roadmap.

Ellie breaks down the base rate increase and explains how it could impact your borrowing costs and investment strategies.

But that's not all – we're also addressing an issue hitting close to home. Have you noticed changes in the way lenders approach their due diligence process?

I’ll be sharing my own experiences and concerns, and Ellie provides invaluable insights into what's driving these changes and how they affect investors who rely on private finance to fund their deals.

Whether you're in the midst of a purchase or gearing up for a refurbishment project, this episode could be helpful in preparing you and aiding you in making an informed decision.
Interested in discussing your HMO mortgage and finance needs? Contact Ellie Broadhurst here.

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Please leave us a quick review on Apple Podcasts or Spotify if you find this episode useful.

Got any questions? Ask us in The HMO Community Facebook Group or follow me on Instagram @andygraham.hmo for daily HMO tips and advice!

If you want to join my 1-2-1 mentoring program, you can enquire here.