Today we've got our second HMO month interview, and today we're joined by Clair Mcardle, a North West based investor and owner of Blue Sky Spaces.
As with Ben & Jules, our guests last week, Clair has achieved a huge amount in just a couple of years, recently hitting her goal of creating 5 HMOs over the past 24 months.
After a bit of a false start and some uncertainty with exactly where she should be investing, Clair discovered she didn't need to follow the crowd to Manchester where she'd first attempted to grow her portfolio. Instead, she focussed on areas closer to home and as well as making her life a lot easier, she's discovered a great local niche where her properties are in huge demand.
We often talk about mini-HMOs generating £600-800 monthly profit, but Clair's latest 4 bedroom HMO is generating in excess of £1,000 every month, in a location many before her had dismissed as unprofitable and low value. It really goes to show what the right area analysis can do for your business.
There are many great insights like this in today's episode so I'm sure it'll open your eyes to the potential of HMO investing.
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Today we've got our first HMO month interview with the husband and wife team, Ben & Julia, from fortunice property.
I'm delighted to have them on the show because they're an amazing example of the impact property can have on your life in a short space of time.
In 18 months they were able to create a £3,000 monthly income enabling Jules to leave the corporate world behind and focus on raising her family, and now as they've progressed from small HMOs to larger ones, they're generating in excess of £1,000 per project.
Ben is still working in a corporate job he enjoys, but Jules is on the brink of taking some time off as they prepare to have their second child, but the real beauty is their income will continue whilst she focusses on family life due to the recurring revenue from their portfolio.
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We're starting off the year by devoting the podcast to HMOs for the month of January - kind of like shark week on the discovery channel but much more exciting, we'll be spending the next couple of episodes looking at the HMO strategy in the current climate.
Today's episode specifically asks the big question of whether they're still a good investment option in 2020 and beyond. I'll let you in on a little secret, we 100% think they are, but we're going to look at some of the pros and cons, how the market is changing, and how our own approach is changing to ensure that we remain competitive.
If you're thinking about investing in HMOs this year, or have been trying to already but just not been able to get if off the ground, this make sure you stick around over the next few weeks and hopefully we can get you started on the right foot!
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