THMOE1: Demystifying HMOs So You Can Build Your Property Wealth


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Nov 17 2019 22 mins   11

RESOURCE LINK

  1. The HMO Experience Website (http://www.thehmoexperience.co.uk/)
  2. Download the 11 Steps to Running your successful HMO Property Business and other FREE RESOURCES (http://www.thehmoexperience.co.uk/resources-page)
  3. Sign up for weekly hacks and tips for starting and scaling your HMO Property Business (https://www.thehmoexperience.co.uk/subscribe)

THE FIRST EPISODE OF THE HMO EXPERIENCE PROPERTY PODCAST

Introduces your hosts Matt Harris, Jamie Madill & Steve Mitchell. They explain how The HMO Experience Property Podcast will help anyone interested in making life-changing income and long-term wealth with investments in HMO property. Your hosts share their personal experiences about what they needed property to do for them, and how they used their HMO property business to replace their corporate job incomes.

If you're looking for an opportunity to leave your 9 to 5 life behind to start and scale your own HMO property business, The HMO Experience Property Podcast is definitely for you!

KEY TAKEAWAYS

  1. The key to deciding on a property business model is to focus on the end result. But what is the end result that you need? Our preferred strategy is HMO, where you take a property and simply renting out the rooms individually to maximize the income from that property.
  2. There are two ways to approach acquiring HMO property - purchase the property, convert it and then rent it out by the room or control an existing rental property, convert it into an HMO (if it isn’t one already) and manage the property on behalf of the owner, known as Rent2Rent HMO, which is how all three of us started.
  3. If you want job-replacing income quickly but either don't want to buy or you don’t have the money to buy, you might want to consider doing Rent2Rent HMO. Alternatively, if you're able to purchase a property and convert it to an HMO, buying the asset and then rent it out will give you the opportunity to generate equity growth as well as grow income.

ABOUT THE HOSTS

Matt Harris - Matt worked in-house legal in the City before practicing as a property lawyer in Mayfair. He swapped law for cleaning and set up The Organised Cleaning Company, followed by MiPropCo Leeds, a BTL investment company. Matt's latest business, MiRentCo London, provides multi-let management services for landlords & great co-living accommodation for young professionals in London. Matt is the co-host of The HMO Experience & PPN St Pancras and hosts his own YouTube channel shows.

Jamie Madill - After an 18 year career in advertising Jamie became a full-time property investor with a property portfolio of single-lets & HMOs and with Steve, they have created a successful Rent2Rent HMO business. Jamie is an international public speaker and co-founder of Progressive Property Network and co-host of PPN St Pancras.

Steve Mitchell - Steve had a successful corporate career in finance and risk management before becoming a full-time property investor. He owns a portfolio of single-lets and HMOs. A black belt in Six Sigma (yes, really!), Steve is the project management and systems expert in the business. Steve is also Co-Host of his own London property networking event, PPN St Pancras.

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