Property is a beautiful thing and along with Samuel many, it’s the best way to invest your money and make to become financially free. Today’s mentoring Monday Samuel will give you an introduction on how to purchase an HMO using none of you own MONEY.
There are three ways to achieve this. How can they implement and better yet what are they? Joint Venturing or borrowing someone else’s money is a good path to follow when purchasing an HMO. JV’ing in property is a well-known method amongst property investors.
A second method could be finding a BMV property that has the potential to be an HMO. As Samuel says buy the worst house on the best street. Once obtained refurbish the property using the BRRR method that is very common with a lot of Samuel’s students. Once completed pull all of your money out of the property and use it to convert the property into an HMO.
The third and final strategy can be simple-rent to rent. Locating a homeowner is already renting the property offering them the opportunity to more than doubling their current rental income. This can easily go from £600 per month to a potential £1,500+. Once converted into an HMO property.