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2016 - HMO 2, Luton
6 Bedroom Terrace, 5 Showers, 1 Bathroom, WC, Kitchen, Reception & 40 ft Garden.
Room to study, CAT6 hardwired wifi. Plus a personal mini-fridge under.
Low maintenance and easy to use all year round.
Some rooms get their own private courtyard area.
Personal fully tiled shower cubicles with powerful water pressure.
Wifi TV, Sofas & Dining Table.
Each Tenant has an extra "personal" fridge for their finer indulgences.
Project Details
Purchase Method: Open Market
Purchase Price: £235,000
Value 2022: £425,000
RICS Valuation
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Freehold
Bedrooms: 6
Receptions: 1
Bathrooms: 1+5 Showers
Parking: 2
Garden: 40 ft
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Loop Lettings Ltd 2nd HMO purchase came in 2016, once we had learned more about the system and first hand experience of having multiple tenants sharing one house.
The first HMO with 4 rooms was a real success and so when we got a call that this town house was just on the market there was no hesitation that it should be the next one.
The layout was such that with the garage being converted and the extended large lounge being divided to add another room, this became a very easy conversion into 6 rooms.
Within 5 weeks we had the first tenant move in to an unfinished hall and staircase and by December 1st, 9 weeks after getting the keys Loop had 5 paying tenants.
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Note:
Further financial information on all of our previous developments is available to investors upon receipt of a signed NDA.