How to finish a HMO in 24 hours.
Paul Tiller is a Property Investors Academy Member investing into property. In today’s video Paul and his wife Sara give us a whistle stop tour on how to finish a HMO (House of multiple occupancy) and make it live in just twenty four hours.
In today’s video Paul gives us four easy to follow steps to make the twenty-four hour turn around possible and stress free. He takes an end of refurbishment property in the north west and transforms it into an up and running HMO. Working his magic and turning a house into a home.
STEP ONE: Check all previous work has been carried out and completed. As his property has been recently refurbished it is essential that Paul checks all previous work to ensure it has been carried out to the highest standard. Once he is happy with the refurbishment Paul can move on to step two.
STEP TWO: Clear the garden while there is still daylight. As he is limited to just a twenty four hour period, the garden becomes high priority as there is not much that can be done in the dark. Cleaning slabs, pulling weeds and making the garden areas presentable can make all the difference.
STEP THREE: Add fittings and fixtures. Fire extinguishers are a requirement of all licensed HMOS, but even in non licensed properties the correct fire precautions protects both the investment and the tenants. A clearly visible notice board makes it easy to display statutory notices, inspection certificates and contact details. Clearly labelled post racks ensure post makes it to the correct people.
STEP FOUR: Fill the house with essentials. Make a house a home, an easy to read list of essentials can be the base for any property and ticking off items make it clear which items need to be purchased to get the property tenant ready.
Following these four simple steps Paul has his property ready for his tenants and ready to provide him cash flow.