£94K Rental INCOME from ONE Property | Incredible HMO Conversion
18,214
Published 2023-02-21
We met up with @lee.moffatt_elmproperty to have a look at his latest property deal in Lewisham.
It’s an HMO conversion and the numbers are insane.
In the video he gives us a tour, breaks down the numbers, talks about his biggest lessons and much more!
#property #propertyinvestment #propertytips
All Comments (21)
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I wish I grew up with a father with all this financial wisdom. This is where I strive to be 🖤❤️💛💚
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My HMo has been makeing 72k a years for the last 7 years and i couldnt sell it for 900k which was mad to me as i thought people would fight to buy it first, incredible. Now i wouldnt even consider 1.2m. I sold some flat in Bucharest instead for 120k that were rented out for 500 a month. Crazy how undervalued London is.
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Thanks guys for coming over to see my project. Looking forward to showing you round the next one 👍
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We have HMO round the corner from us.. ALL residents were arrested one evening and it’s up for sale!! In my experience HMO property gets trashed quicker than others.. you have to choose residents very wisely..
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Great content. Thanks
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Amazing work.
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Very nice. Were the rent prices with utilities all or part included though? I assume all but don't think you said
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Great result but what’s the net yield on this? I’d expect some hefty running costs !
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@LEE MOFAT Great job on the project, inspired by your journey.... hoping to get on a similar path someday, working at a corporate atm what areas in London are not under Article 4? As a first time HMO investor, what areas do you suggest one should target in Zone 2/3? Also in Lewisham, it come into effect on 19/01/2024... does this mean the Sui Generis HMO layout needs to be approved before this date?
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This is amazing. Are there many HMOs in the area for a valuer to make a comparison? Also wondered if you did the extension work and configured the internals to a larger family home what the value would be?
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4:24 private courtyard..... which anyone in the living area can see into as well as see into your bedroom as you get dressed.
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how much was the cost for planning and buying rights before the extension ? it would help us
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Inspirational stuff ❤
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Hi, Excellent project! Was the re-valuation on a bricks and mortar basis or commercial?
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@LeeMoffat Excellent job! Are there HMO specialist lenders? Any recommendations? Thanks
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The floating words say “HMO Conversation” by the way
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Awesome content as usual 👏👏👏
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Great project!! I'd love to understand how he estimated a £1.1m commercial valuation, given the gross annual rent is £92,400.
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👌🏾
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Im in shock you can get this much for this property, i grew up in Lewisham an laleham road where this property is (right near catford) is a shithole. Colour me surprised.
