How to Profit From Multi-Let Property in 2017?

Renting a property out as a multi-let or HMO (House In Multiple Occupation) can give you as much as 300% extra rent-roll. My philosophy for property investing has always been to maximise the rent-roll from each property I own. This has driven me down the path of multi-let property. Since my first HMO in 2005, our company now manages over 300 room lets across London.

‘Doing HMOs’ and ‘Doing HMOs right’ are of course two completely different things. That’s why for this month’s Baker Street Property Meet I have invited some of the very best HMO operators I know, to share with you:

How to identify whether your target area is ripe for HMOs in 2017?
The profit numbers you need to achieve and how to achieve them?
The ‘HMO product’ which tenants love and will choose over and above your local competition?
How market your HMO as a premium product at premium rent and have tenants queuing up to move in?
How to run your HMO operation with the minimum of hassle, cost and administrative effort?

Whether you are new to multi-let investing or have done it for years. You are guaranteed to learn some golden nuggets from our HMO experts, Jim Haliburton, Bill Patel, Darren patel and James Grady.

Jim Haliburton

HMO Daddy

Jim Haliburton began his property journey in 1991 letting rooms to students. At the time he was a college lecturer lecturing in Law. His tenants were students who all came from the College where Jim worked. He immediately discovered that by renting out individual rooms to his student tenants he could generate between 3 and 5 times more rental income than if he were letting the house out on a Single Let basis.

Thus he began to specialise in acquiring and converting properties into HMOs (Houses of Multiple Occupation) to maximise his investment returns.

In July 2003 he left his job as a College Lecturer and began to buy investment property full time. At that point he set himself a target to purchase a further 50 properties before the buy-to-let boom finished, which he felt would only last a further 12 months. In the end it took him 18 months to purchase those 50 properties and the boom went on until 2008.

Jim now owns 130 HMO’s, 30 Single Let properties and he also has 19 Lease Option Properties. In all he has a portfolio comprising of more than 800 rooms and still counting.

He is also in demand as a guest speaker at property meetings up and down the country and regularly featured in the national press speaking on the subject of HMO’s.

Bill Patel, Darren Patel & James Grady

Innovate HMO Developers Sharing Their Success Secrets

Darren and Bill (brothers) have been investing in property since 2007 and full time since 2011, James has been investing in property since 1991 and full time since 2010.

Bill’s background started as an electrician at 16 and opened his first company (Landworth Electrics) in 2007 and built the business from scratch to a £1.2M turnover in 4 years before selling out to his business partner in 2011 and jumping feet first into full time property investing.

Darren’s background started in the Royal Air Force at 16 and after 7 years of loyal service to his country he decided to make the jump feet first into property investing in 2011.

James’s background is he spent 15 years as a professional musician travelling the world, started re-investing in single lets in 2006 and quickly found that that wasn’t juicy enough and bought a block of 12 flats in 2007, James developed a scheme for mental health/ supported living within the 12 flats. He then went on to develop and project manage a 4 bed semi into 7x 1bedroom flats and implemented another scheme for learning disabilities/ supported living.

Darren and Bill met James in May 2011 at Varnish’s Property Angel Networking event, found common ground in their investment area Luton and instantly realised the synergy between personalities was a powerful combination.

The boys bought their first property together as a JV in November 2009, second in January 2012 and the rest is history. Their first deal was bought for 235k and spent £200k (almost 50% of the purchase price) developing the property, the deal is “no money left in” with a £2,000 PCM net profit whilst paying down the debt. The boys also ventured into the world of commercial finance which they say has been an eye opening experience.

Those who attend will be truly inspired as well benefit from an HMO masterclass.

WHY SHOULD YOU ATTEND THE NEXT BAKER STREET?