HMO Myths - Part 2

Simon continues his crusade to bust through the many myths surrounding HMOs, including pre-existing HMO portfolios, and how energy costs have affected HMO profit margins. KEY TAKEAWAYS There is so much more profit from an HMO that you can get people to manage them for you, meaning that you have more time and more income. Many think you need lots of money to create an HMO. This might be the case in certain cases, but if you're adding value to property, you can refinance and take that money out. People think you need to have HMO properties in order to get HMO mortgages. Some mortgage lenders do want you to have landlord experience, some want you to have HMO experience. There are still lenders who will lend you money even if you have no property experience. People think that rising energy costs have wiped out all the profit in the HMO sector. All that's required is a simple adjustment in the rates-per-room cost. BEST MOMENTS 'These myths confuse people and stop them from moving forward' 'You don't need to manage these properties yourself' 'You absolutely can get HMO mortgages, even if you're new to property' 'We charge enough rent to cover these facilities and still make a profit' VALUABLE RESOURCES To learn more about how to acquire your next high cash flowing HMO join Simon on some live online training here; www.HMOCourse.co.uk To attend your first pin meeting as Simon's guest visit http://www.pinmeeting.co.uk/, find your local meeting, and at the bottom of the page where you normally pay £20, click on where is says "pay with a voucher code" and use this code: PODCAST. This will by pass the payment page and you can attend your first pin meeting for free. Property Magic: How to Buy Property Using Other People's Time, Money and Experience by Simon Zutshi Find out about the Global PIN Meetings at www.globalpinmeeting.com To find your local pin meeting visit: www.PinMeeting.co.uk and use voucher code PODCAST to attend you first meeting as Simon's guest (instead of paying the normal £20). iphone:  http://bit.ly/pinAPP1 Android https://bit.ly/pinAPP2 Register at Mindset For Property at - www.mindsetforproperty.co.uk  ABOUT THE HOST Simon Zutshi, experienced investor, successful entrepreneur and best-selling author, is widely recognised as one of the top wealth creation strategists in the UK. Having started to invest in property in 1995 and went on to become financially independent by the age of 32. Passionate about sharing his experience, Simon founded the property investor’s network (pin) in 2003 www.pinmeeting.co.uk.    pin has since grown to become the largest property networking organisation in the UK, with monthly meetings in 50 cities, designed specifically to provide a supportive, educational and inspirational environment for people like you to network with and learn from other successful investors. Since 2003, Simon has taught thousands of entrepreneurs and business owners how to successfully invest in a tax-efficient way.  How to create additional streams of income, give them more time to do the things they want to do and build their long-term wealth. Simon’s book “Property Magic” which is now in its sixth edition, became an instant hit when first released in 2008 and remains an Amazon No 1 best-selling property book. Simon launched his latest business, www.CrowdProperty.com, in 2014, which is an FCA Regulated peer to peer lending platform to facilitate loans between private individuals and property professionals. CONTACT METHOD Contact and follow Simon here: Facebook: http://www.facebook.com/OfficialSimonZutshi  LinkedIn: https://www.linkedin.com/in/simonzutshi/ YouTube: https://www.youtube.com/SimonZutshiOfficial Twitter: https://twitter.com/simonzutshi Instagram: https://www.instagram.com/simonzutshi/