This week it's HMO property investment that Stuart and Simon look at for their salary replacement analysis. What would it take to build an HMO portfolio that provides enough income to replace the average UK salary? Listen to find out!
The discussion this week includes:
- Our previous episode on replacing your salary with rent-to-rent.
- An average UK salary.
- Buying and renting HMO investment property.
- Describing our chosen "typical" HMO property.
- Purchase costs.
- Refurbishment costs.
- Loan to value (LTV).
- Stamp duty.
- Mortgages and possible rates.
- Maintenance costs.
- HMO licence costs vary per council.
- Utility and council tax costs.
- A strange calculation to allow for voids!
- Agent costs (or not).
- How long does it take to buy and setup an HMO?
- The cost, impact and risk of using private finance.
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