Reviewing the Reviews

Reviewing the Reviews

It's important to reflect on the good work you do in your business and appreciate the comments and repeat business you get from doing a good job.

I can't thank my clients enough for helping me build such a great business





 

Location: Shrewsbury, UK

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HMO flips - Richard Nicholls Property Shrewsbury

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HMO flips We’re working with an increasing number of HMO developers who then sell their finished HMO to our cash buyers - I’m valuing around 5-10 of these a week currently and the demand is there too to sustain the sales. Key points: Q: When do you need to let us know about your HMO flip? A: We work with developers currently up to 12 months in advance of the HMO being finished, giving advice on potential sale prices, likely buyer types and feedback on the layout/style of the project. Q: When do we engage with potential buyers for the HMO conversion sale? A: The optimum time is around 4-6 weeks away from completion on site where we can whet the appetite of the potential buyers but not delay them too long so they lose interest. The ideal scenario is that we secure a ‘subject to’ offer as the build is bearing finish and get a committed buyer lined up at this point. We visit an do a ‘coming soon’ video and release more information incrementally as the builders are finishing. Q: Do you nee
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So, you’re thinking of selling your HMO?

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  So, you’re thinking of selling your HMO? There’s a few things to think about and consider in order for you to get the most appropriate sale for you and your property - value, who’s buying & who can perform, the ‘health’ of the HMO and how much marketing to do. Value I get asked to value up to 10-20 HMOs a week and, usually, the landlord wants to explore a ‘yield’ value sale - this is where the valuation is based on the rental income and not the bricks and mortar. You can start by working out the expected gross yield for your area - what have similar HMO completed sales achieved locally and at what gross yield? This is the first broad brush we use to analysis expected sale prices for our HMOs. Gross yields vary from city to town, south to north and the spread can be from as low as 6% to as high as 16%. Each area has its own pinch point. Obviously, the ‘value’ extends way beyond the gross yield driving force and we look into condition, occupancy, likelihood of getting lending, size
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Selling an HMO STEP 3 - WHO IS THE LIKELY BUYER?

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A short series of videos based around the steps to selling your HMO from valuation, marketing advice, likely buyer types, taking offers and negotiating and sales progression. The Property Advantage Richard Nicholls Jessica Mortimer-Collier Shrewsbury Shropshire Property #richardnicholls #richardnichollsproperty #richardnichollsshrewsbury #richardnichollsshropshire #hmo #investmentproperty #thepropertyadvantage #shrewsbury #propertyinvestment #tenants #landlord #btl #investment #ukproperty #propertymarket #northwest #landlords #investinginproperty #yield #ROI #HMOinvestment #cashflow #TPA #westmidlands #birmingham #houseshare #ukinvestmentproperty #hongkongbuyers #eastmidlands #southeast  
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