The Progressive Property Podcast How to Build 700k Equity through HMOs in 9 Months!
FREE DOWNLOAD How YOU Can Make A FORTUNE From Buy-To-Let
Samuel Chick joins Kevin for a second time in this episode to give an update on what he has achieved in the past 12 months.
Last time he was on the podcast he was still working full time and it was mid-pandemic. Listen in to hear what Samuel has been up to the past 12 months and what he has managed to achieve.
KEY TAKEAWAYS
- In just 9 months, Samuel and his wife have managed to build 700k in equity in their property investments.
- Samuel’s strategy is to buy ex local authority properties and then push up the value by renovating them, extending them and turning them into HMO’s.
- Students are Samuel’s main market, he finds his properties are really popular because of the finish he puts on them and the great branding he has created.
- The benefits of the student market is the cashflow. Students move in at the same time each year and look for rooms for the following year at the same time too. So for 21 months of the year, you know where you are with your rooms.
- There are some small disadvantages to students, because they are usually young, they may call more often because they don’t know how to change a lightbulb and similar small maintenance issues.
- Samuel is able to rent his houses out for the entire year because they are in such high demand. He is proud of the high standard he offers and would happily live in them himself!
- You pay zero council tax on a student property and the student pay ‘uni homes’ for all their bills. All Samuel has to collect is his rent.
- The art of systemisation has helped Samuel with his HMO portfolio. He has built robust systems to ensure he is up to date with all regulations and maintenance.
BEST MOMENTS
“The brand is really important”
“All our houses are immaculate, I’d live in them, I feel proud”
“If you do a good product, people will pay for it”
“It’s as close to the single-let and forget but with higher cash flow”
VALUABLE RESOURCES
MSOPI – Multiple Streams of Income:
https://www.progressiveproperty.co.uk
ABOUT THE HOST
Kevin McDonnell is a Speaker, Author, Mentor & Professional Property Investor. He is an expert when it comes to creative property investment strategies. His book No Money Down: Property Invest talks about how to control and cash flow other people’s property to create financial freedom.
CONTACT METHOD
https://www.facebook.com/kevinMcDonnellProperty/
https://kevinmcdonnell.co.uk/