WHAT IS AN HMO?


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Why do people sell their HMOs?

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  “Why are they selling their HMO if it cash flows so well?” We get asked this a lot by potential investors (usually first time investors). Answer usually goes something like this; Landlords sell for all types of reasons but usually one of the following: • Fall out with business partner • Divorce • Change of strategy (moving into development common) • “I prefer BTLs” • Can’t make the HMO work (means too tired and worn out as a self-managing landlord or has chosen a crap managing agent) • Need money for other ventures • Retirement • Made money on the refurb and now selling for a yield price to make a profit (flip) • Was overpromised a ‘commercial valuation’ by the sourcer who sold it to them pre-refurb • Had a ‘good stint’ as an HMO landlord, build a good portfolio and now it’s time to sell Like anything, the above reasons are 50% positive and 50% negative so it’s about mitigating your risks and making sure that your exit is on YOUR TERMS and not forced upon you if and when you do s...
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Selling an HMO STEP 6 - SALES PROGRESSION AND COMPLETION!

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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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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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