Aug 29 2024 12 mins
On todays podcast Mark discusses which strategy produces the best cashflow in 2024
Due to interest rates spiking up it has become much harder for Buy To Let properties to produce high profits. Additionally to this there will always be voids which also makes you lose out on more money.
With HMOs you will have more people moving around and potentially not have longer term tenants due to short term contracts. However, Mark mentions how with HMOs if one person does leave the other rooms will still stay occupied. This is not the case for single lets and the property will be empty and you will have to look around for another tenant.
Unfortunately for HMOs there is much more wear and tear in the property due to many occupants living in it at once. To avoid this you will need to invest much more each month on maintenance to ensure the property is in high condition.
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