Property Lessons as We Head Back From Liverpool!
As you may recall, while we were in Manchester for the 7-day financial challenge with Lawton, another car rear-ended us. So due to the damage on my white Range Rover, I was given a “like for like” courtesy car. But the vehicle couldn't be more different from my Range Rover hence the quotes. Or as Russell, who's my videographer and fellow property investor, puts it, “The only way it's like your Range Rover is in how new it is and the fact that it's white.”
So anyway, on this particular night, Russell and I were driving from Liverpool, where we have a refurb in progress. And I thought, why not share a few quick tips regarding HMO property refurbishment projects. So when you're doing a refurb on a property, have the end in mind. For instance:
- Know your target market before. In Liverpool HMOs, for example, you can't mix DSS tenants with professional tenants.
- Find a property manager. The amount you should pay to have your HMO property managed, I'd say on average, 12%. And I'd warn against going for cheap management if you want your business to succeed.
Now, property investing is an ongoing change. What you knew in 2020 may not be applicable in 2021. So I invite you to join the 12-hour Property Investors Crash Course, where you will learn how to buy with no money and no experience, how to source properties and pass them on for a fee, and lots more. What's more, it's a free, virtual course with a £1 booking fee. You could be a crash course away from becoming a successful property investor like Russell and me, so “take action, and make 2021 your year.”
Get booked on: https://www.samuelleeds.com
