If it wasn’t for HMO properties from landlords in Manchester when i was going to college, there’s no way i could afford to go to college. If it wasn’t for HMO landlords in London, I wouldn’t have been able to afford to move to London to get the job i was chasing so badly. This was back in the early 1990s - i wish id had the chance of renting such excellent rooms like this excellent guy is creating for financially challenged individuals - my room over three years were appallingly horrendous, in the dodgiest parts of town - I had nothing, yet i was burgled twice a year 😳
Yes, these sorts of landlords these days do amazing jobs and provide brilliant cost effective all inclusive housing for the tenant…. Yet landlords all still painted with the same brush by the naive….Whilst jumping through hoops and it costing a bloody fortune to do. At the same time wondering what new poorly thought out rule or reg comes next!! Sh.t where did all that come from…..more coffee
Hi. Could somebody please explain to me when do you apply for changed of use from C4 to Sui generis with 7 people living in a 6 bed HMO? After the refurb done? Would it automatically meaning necessity to create more space in communal areas for 7 people. I'm interested in creating 6 bed HMO where 2 rooms are en suite and 4 are studio style hence the kitchen/living room would be limited in space (as per council guidance) as only serving 2 individuals (others having their own kitchenettes) and want to make sure I'll get commercial valuation at the end of it. Many thanks in advance.
Is it still possible to do a short term refinance when buying an existing HMO, does the refurb allow enough of a short term uplift in value to pull cash out?
Hey bro have a quick question I’m at a loss and was hoping you could give me some advice ? I’m currently in the process of buying a house with my partner and there is something damp issues. The sellers have agreed to put aside 3.5k to give to us to carry out the works. Estate agents are saying they can only knock it off the asking price which is no benefit to us as we then do not have the cash to continue. Is there a way we can get the cash from the seller to us without it being an issue? Really appreciate your help man!
Hey mate - spotted this and thought I'd try and help. To be clear; are you saying the seller is going to give you £3.5k to carry out the work on the damp issues? If this is correct, rather than being gifted this money, you could agree as a condition of the exchange on the property, that the damp issues have to be fixed. This then allows the seller to fix the issue, you'll both be legally tied into the transaction, they do not have to reduce the price and you will get a home that no longer has a damp problem. Hope that helps? If your issue is different and my advice doesn't make sense, feel free to get hold of me.
Very dangerous to advocate going for high commercial valuations. If you had to sell that house on the open market no one will pay the high valuation. You are essentially making paper profit and you're using that money to buy more property. Therefore you are spending money that you haven't got! Running a highly geared property portfolio in this way eventually leads to bankruptcy...
@@Morenoglitch it wouldn’t, this guy has been hating on peoples companies, downloading peoples companies house documents, whilst probably claiming PIP and getting a bed sit paid for, he needs to concentrate on his or her self.
No because he’s build a successful business whilst paying through his ass in costs to provide great accommodation. Those people who live in his houses want to live in what he provides and that area is exactly where they want. So if guys like him did not produce that great HMO…..where the hell would they live???? Exactly !!!!
If I was homeless and had to use a HMO I would rather not share a house with drug addicts, alcoholics, pests, racist people, racism towards religion, and loud noisy music playing people. This is from previous experience in previously being in HMO's. If my preferences and provisions can't be met then give me a flat pack hard shelter where I can build a hard shelter for myself and sleep outside.
A very interesting chat there, Justin, with an experienced guy, passing on some gems too, to help people understand what is involved, both financially and aesthetically in an HMO. A video well worth a return visit to digest all the info. Enjoyed it 👍👍💯💯
If I was homeless and had to use a HMO I would rather not share a house with drug addicts, alcoholics, pests, racist people, racism towards religion, and loud noisy music playing people. This is from previous experience in previously being in HMO's. If my preferences and provisions can't be met then give me a flat pack hard shelter where I can build a hard shelter for myself and sleep outside.
Great choice of collaboration Justin. I've watched quite a few of Saj's videos online. He's a really smart guy.
If it wasn’t for HMO properties from landlords in Manchester when i was going to college, there’s no way i could afford to go to college. If it wasn’t for HMO landlords in London, I wouldn’t have been able to afford to move to London to get the job i was chasing so badly. This was back in the early 1990s - i wish id had the chance of renting such excellent rooms like this excellent guy is creating for financially challenged individuals - my room over three years were appallingly horrendous, in the dodgiest parts of town - I had nothing, yet i was burgled twice a year 😳
Yes, these sorts of landlords these days do amazing jobs and provide brilliant cost effective all inclusive housing for the tenant…. Yet landlords all still painted with the same brush by the naive….Whilst jumping through hoops and it costing a bloody fortune to do. At the same time wondering what new poorly thought out rule or reg comes next!!
Sh.t where did all that come from…..more coffee
Thank you Justin and Saj! The advice given at 16.30 was exactly what i needed to hear.
Thats great to hear! Go forth and achieve success :D
Really enjoyed this, thanks Justin 👊🏼
Likewise! Thanks for having me Saj
Hi.
Could somebody please explain to me when do you apply for changed of use from C4 to Sui generis with 7 people living in a 6 bed HMO? After the refurb done? Would it automatically meaning necessity to create more space in communal areas for 7 people. I'm interested in creating 6 bed HMO where 2 rooms are en suite and 4 are studio style hence the kitchen/living room would be limited in space (as per council guidance) as only serving 2 individuals (others having their own kitchenettes) and want to make sure I'll get commercial valuation at the end of it. Many thanks in advance.
Is it still possible to do a short term refinance when buying an existing HMO, does the refurb allow enough of a short term uplift in value to pull cash out?
Can’t wait for prices to come down more. Next Spring will be a good time to invest.
I am to buy all year round, just make sure I’m buying at the right price. Timing the market isn’t the best strategy
Great videos mate 👍🏽
Thanks ✌️
Great work 🔥🔥
🫡🫡
Biggest collaboration in the TH-cam BTL scene. Still waiting on you to drop the Samuel Leeds diss track Justin.
Hahaha, get me in the recoding studio 😂
@@JustinWilkins Hahaha, legend
Hey bro have a quick question I’m at a loss and was hoping you could give me some advice ? I’m currently in the process of buying a house with my partner and there is something damp issues. The sellers have agreed to put aside 3.5k to give to us to carry out the works. Estate agents are saying they can only knock it off the asking price which is no benefit to us as we then do not have the cash to continue. Is there a way we can get the cash from the seller to us without it being an issue? Really appreciate your help man!
Hey mate - spotted this and thought I'd try and help. To be clear; are you saying the seller is going to give you £3.5k to carry out the work on the damp issues? If this is correct, rather than being gifted this money, you could agree as a condition of the exchange on the property, that the damp issues have to be fixed. This then allows the seller to fix the issue, you'll both be legally tied into the transaction, they do not have to reduce the price and you will get a home that no longer has a damp problem. Hope that helps? If your issue is different and my advice doesn't make sense, feel free to get hold of me.
Can HMO's work in towns with a population of 15,000. The town has a large hospital & College & factories.
Demand will be lower
Very dangerous to advocate going for high commercial valuations. If you had to sell that house on the open market no one will pay the high valuation. You are essentially making paper profit and you're using that money to buy more property. Therefore you are spending money that you haven't got! Running a highly geared property portfolio in this way eventually leads to bankruptcy...
I'm also uncomfortable with that. I don't take as much debt as most do.
If you’ve fully converted it to a HMO in the right area, why would that ever go onto the open market?
@@Morenoglitch markets change nothings permanent
@@Morenoglitch it wouldn’t, this guy has been hating on peoples companies, downloading peoples companies house documents, whilst probably claiming PIP and getting a bed sit paid for, he needs to concentrate on his or her self.
Kemmer Springs
Great video
Cheers Colin!
Saj looking a bit Mac Daddy with the jacket. Should tone it down or the tenants will be asking for copper taps and hot tubs
Have you got an hmo next door to you saj ? I bet you haven't
I can’t say that I do 😂
No because he’s build a successful business whilst paying through his ass in costs to provide great accommodation.
Those people who live in his houses want to live in what he provides and that area is exactly where they want. So if guys like him did not produce that great HMO…..where the hell would they live???? Exactly !!!!
If I was homeless and had to use a HMO I would rather not share a house with drug addicts, alcoholics, pests, racist people, racism towards religion, and loud noisy music playing people. This is from previous experience in previously being in HMO's. If my preferences and provisions can't be met then give me a flat pack hard shelter where I can build a hard shelter for myself and sleep outside.
👏🏿👏🏿👏🏿
🤝🤝
First
Hero: wow, what an informative comment, it was so interesting I read it thru about six times, thank you 😅😅😅
A very interesting chat there, Justin, with an experienced guy, passing on some gems too, to help people understand what is involved, both financially and aesthetically in an HMO. A video well worth a return visit to digest all the info. Enjoyed it 👍👍💯💯
😂😂
Thanks Jo! Glad you enjoyed it. I learnt a lot from spending the day with Saj
If I was homeless and had to use a HMO I would rather not share a house with drug addicts, alcoholics, pests, racist people, racism towards religion, and loud noisy music playing people. This is from previous experience in previously being in HMO's. If my preferences and provisions can't be met then give me a flat pack hard shelter where I can build a hard shelter for myself and sleep outside.