TPP180: How to buy an HMO
More than any other type of property investment, the success of an HMO hinges on buying and setting it up right in the first place. We've talked recently about managing an HMO once it's up and running, but this week it's all about acquisition. We discuss:
- Where to buy, depending on your target market
- Two ways to find out where the "HMO areas" are
- Why you absolutely don't want to compromise on location
- The importance of understanding Article 4
- The challenges involved in financing an HMO
- How lenders value HMOs (check out this episode of the Property Geek podcast for more on this)
- What you need to know about licensing
- The returns you can expect to earn
- The key components to setting yourself up for a high ROI
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