Building a passive income and taking control of your life is easy when investing with HMO assets!
We no longer live in a generation where mortgages are easy to come by. As an investor 20 years ago, you could easily find yourself with 10+ properties a year; but it doesn’t happen that way now. Before the credit crunch we were seeing property values increase everywhere, and those days are long gone. The way forward now is making the money out of what you can afford…
Here at Nick Fox, our advice is to view each property individually and as its own ‘minibuisness’. It’s important not to see how the portfolio is as a whole, but to take action on single properties depending on how they’re doing. In other words, don’t keep driving forward with a property getting you in debt. All your houses should be MAKING money and if not, our advice is upgrade.
Say a 4 bedroom house makes you £1,200 per month, what happens if you create more bedrooms and increase your space to a 6 bedroom HMO (House in Multiple Occupation)? Well overnight, this boosts your property from a liability to a profitable asset; you will find you can earn even double what you had!
So why stick around losing money; gaining debt; when you could be boosting you pay and passive income? Most property investors in the UK only own three single let properties or fewer right now. Why not find out instead how far 3 full fitted HMOs can take you?
HMOs have such potential and hardly the hassle people say. Read more on our HMO advice, and view our free sample advice document today!
Nick Fox started his property investment career 10 years ago and his portfolio has grown to one of the largest in the UK. Nick now mainly focuses on HMOs (houses in multiple occupation) and works to help others achieve property success too. Visit here to find out how he can help you.
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