How to FUND your HMO Project!

You’ve heard the phrase ‘ Money Talks’ no doubt. But if all yours has ever said to you is ‘Goodbye I’m off’ then you’ll know that making money from property is not as easy as it looks!

Funding your project is often the hardest part of the system unless you know what you’re doing! If you’ve FOUND a great property but have no money to buy it or develop it. you are well and truly STUCK.

Here are some of my top tips for ensuring that you DON’T GET STUCK without money when you are investing in HMOs…

1) Your money mindset is the most important part of the process.
If you believe, trust and TAKE ACTION, you can raise as much money as you want to. I know this may seem a little airy fairy, but trust me, I have worked with many people who say that the difference between being wealthy and being broke is what is between your ears! Not what you can do, your background or your education. It is purely how you THINK and ACT that makes the difference.

2) Create a clear budget for what you need.
Purchase Price – £140,000
Refurb costs – £50,000
Legals – £700
Stamp Duty – £4,500
TOTAL = £195,250
It looks like a lot of money doesn’t it? But how about if you break it down and challenge yourself to raise each part, bit by bit? (In reality most of this will come from your investor but it’s a great challenge to get lots of little pieces and put them together).

3) Do the maths on the project
How many rooms will you create: 6
How much will the monthly rent be on average per room: £600
Total Annual Rent: £43,200
With those figures you can work out the Return on Investment for your investor, your yield and the possible re-valuation at the end. It’s not an exact science as there will be voids, maintenance and so on. The key thing is to understand the maths behind it, so that you can give your investor some rough ideas as to their return.

4) Create a compelling reason why your investor should work with you
This might be because of your personality, your work experience, or your relationship with them. It is very rarely just about property investing experience or money.


5) Network and learn continually.
You are always pitching, whether you realise it or not. Your social media, your emails, your meetings and your networking say a TON about who you are. Make it great and make it memorable. People will fall at your feet to lend you money!

Multilet Income Multiplier Event
If you are dribbling to know more(!) I am leading my VERY last Multilet Income Multiplier event next weekend – 17th and 18th November at Crewe Hall in Cheshire. It is a fabulous hotel, and I’m even gonna take you out for dinner on Saturday night!
The event will cover everything you need to know to set up, scale and systemise your HMO business and is the very last one I will be running. As this is my last event, I am offering a very special rate for the last few seats I have available.
Just £499 plus vat for your ticket to this amazing weekend experience.
If you would like to know more, please click here https://goo.gl/6kERgs for full course details and information about what will be covered on the two day event.

Buy to let is dead. Right?

Well, maybe Buy to Let in its traditional form is dead! Certainly buying in your own name, putting down a reasonable deposit and then a few months or years later refinancing all of your money out is something fewer and fewer investors want to do now. We have George Osborne to thank for that.

Investing in Buy to Let has seen a huge amount of change in the last few years, with new legislation that impacts financing, as well as property tax changes which, has left many landlords questioning if Buy to Let is still a viable investment strategy. With that said there is still a huge demand for rental property and with ever increasing ‘transient’ lifestyles people want flexibility, gone are the days when people what to live in the same house for 40 years!

Our first HMOIf you have been wondering what is the alternative, and how you can make your money work for you, I’d like to suggest House of Multiple Occupation are one way you can address this problem. We hold a number of personal B-T-L properties but a few years ago realised that there were other strategies we could use. When I discovered HMOs I raved on and on about them (in only the way a demanding wife knows how to do) and eventually Andy said ‘OK, let’s give it a go’. That was our very first 4-bed Mini-Mo and since then we have not looked back!

If you don’t have much money to invest, or you are concerned about whether this strategy will work for you, then I’d like to invite you to my NEW and IMPROVED HMO Fast-Track Live Event on 14th October in Birmingham. I’ll be sharing with you how to get started with very little of your own money and LOADS of case studies about how you can make huge profits and BEAT THE TAXMAN!

In this jam-packed and interactive workshop, you will learn how to:

  • ANALYSE an area to invest in for long-term cash flow and growth
  • UNDERSTAND the process of a refurb to create a wonderful HMO home
  • SELL rooms effectively so you avoid voids!
  • MANAGE the investment so it becomes HANDS-FREE
  • LEVERAGE your time so you can rinse and repeat!

 

With a mixture of fun, interactive exercises & relevant examples of REAL HMOs, I will share my tried and tested systems to ensure you grow your flow with HMOs. So are you ready to go on your own HMO adventure?

YES PLEASE RESERVE ME PLACE!

 

What is MY why?

When I first started investing in property (in 1996  – yes I was only 3 years old – lol!) my aim was to create a pension. I was a stay-at-home mum with two boys and knew that I needed to start thinking about the long-term, even though retirement was a long way off. I had no idea whether I would buy other properties or not, but after the success of the first one, I really wanted at least one more so each of my sons would inherit one property.

After I had about six single buy-to-let properties I began to ask whether I really did want or need anymore. After all, I had more than enough for the boys (and by then my children had doubled in number), and  I stood back and realised I had achieved my goal – to provide something for my retirement and also a legacy for my children.

Why you do what you do

So why carry on?

The real question I was asking myself was ‘WHY carry on investing’? ‘What is the REAL reason to invest’? Was it for a future legacy as I had first imagined? Or had my WHY changed?

I came to acknowledge that I wanted more from property. I saw others who had made a living from it – a lifestyle not just a legacy. And the benefits of that kind of life seemed obvious to me: more time with the family, more flexibility to spend my time as I wanted to, and fulfillment knowing I was giving back to society.

So in effect I started again in 2012. But this time with HMOs. And this time, for cashflow not just capital growth. And in two and a half short years, we as a family were financially free!

 

I’m sure you know your WHY too. Just as I did, if you want to change your life, create cashflow and be financially free you need to do what others won’t to have what others can’t.

Therefore, I would like to give you the opportunity to make that happen. It won’t always be easy, it won’t always be plain sailing and I’m sure you will hit obstacles along the way. To save you time and money it’s so important that you learn the fast way, the short-cuts, the tricks of the trade. You need to learn from someone who’s done it and can show you each step of the way how to make it happen.

You need to see how possible it is for YOU no matter what your situation.

I’d like to invite you a very special one-day event called ‘HMO FAST TRACK LIVE’. It’s my brand new event focused on learning all about HMOs, but where you’ll also have a mindset shift to realise this is not just a dream – this is possible – and it’s possible for YOU!

 

I’m thrilled to be working with Adam Cooper – an investor, Joint Venture partner, and HMO expert based in Peterborough, and together we’ll be hosting the event. You’ll be able to ask us lots of questions, learn all about the deals we’ve done, and best of all find out how just FOUR HMOs can make you financially free.

Find out more below and reserve your space now!

https://hmosuccess.lpages.co/hmo-fast-track-live/

 

Taro Nabetani, professional investor

Using Google To Scale Your Business

Is it possible to grow a business for low-cost or even no-cost?Google systems

Well, that’s our mantra! For many years I bought simple, single buy-to-let properties and self-managed them. After all they were really no hassle. Once they were ready, we advertised them locally, rented them with few problems and when the tenant moved out, repeated the process. It wasn’t hard nor was it time-consuming.

Fast forward a  few years though how things changed! We started to invest in Houses of Multiple Occupancy (HMOs) and were catapulted into the delights of all-inclusive rents (which meant we had to manage and pay the bills), 3 or more unrelated tenants sharing a house, with all the disagreements and problems that can raise, and a whole cupboard full of keys! Suddenly one house could create 5 tenancies starting and ending at different times, rents coming in on different days, and a lot more maintenance issues being reported (as now it was down to us to fix it).

 

I soon realised that I was in danger of creating another full-time job for myself unless I was careful. We needed to find a way of releasing time, without spending masses on systems or staff. Carefully and methodically we analysed a lot of the so-called ‘technical solutions’ out there for landlords and found that although they were good-looking and very easy to use, were expensive, not scalable and not very flexible. If we adopted one of these systems the chances were that in time we would still need a spreadsheet to oversee other aspects of the business like key tracking, regular and customised maintenance inspections and pin codes for any locking devices.

 

We couldn’t find a system that included all the necessities AND allowed us to customise it to our preferences, without spending an arm and a leg on design, programming and implementation.

 

We were using many of Google’s tools already such as sheets, forms and drive, to store, share and scale our business. Why not see if we could use Google as our main form of data collection and integrate that into our accountancy system? So without spending an extra penny, we started to load up our business onto Google. Three systems all with separate KPIs and processes (Development, Tenancies, Management and Financials). All integrated and managed. All with the ability to scale, systemise, simplify and suit our needs. And above all, totally secure!  And the best part – FREE!

 

Lifestyle property networking event ManchesterIf you would like to know more about how you can use Google to Supercharge your growth please come along to the inaugural Lifestyle Property Network meeting on Monday 18th September at 7pm. Tickets are just £15 and include a glass of champagne and canapes!  You can buy your tickets here https://www.eventbrite.co.uk/e/lifestyle-property-network-property-network-manchester-tickets-37753791607

 

I look forward to meeting you and sharing how you too can Supercharge Your Growth Using Google!

Comment below if you will be coming along!

 

How you make people feel really matters

“I’ve learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.”
― Maya Angelou

So how do you make people feel? In different transactions and relationships we probably want to make people feel a variety of emotions – desire, anticipation, regret, loyalty, empathy, fear, longing, even love. This is not manipulation, this is interaction – all humans have an amazing ability to create feelings in other people without even realising it.

How often on Facebook have you felt sad, envious, pitiful, happy, delighted or worried? Just by reading other people’s posts about their lives and seeing what they’re up to! As someone who generally likes to get along with others and have harmonious relationships, I have often struggled when I have created pain in others. Well you could say that the pain was already there and I brought it to the surface by something I said or did. I think many of us don’t want to cause pain in others so shy away from those interactions which bring it to the surface.

However, in becoming a speaker I have realised that bringing pain, fear, loss, regret, longing to the surface is my job. It enables people to look at their lives and take action to make changes. In fact if I DON’T do this then I am doing them a disservice. I am not there to make them feel content and happy, or they won’t commit to change, and the key reason I am speaking to them is to create the environment for change.

I am still not terribly comfortable making people feel uncomfortable, but I believe that if I can connect to the deep love which I feel for them underneath it all, and serve them with all my heart, then I can both hold them and stretch them at the same time.