Main strategy:
HMO
Time member:
Since 2022
Phil and his team leverage several key features of Property Filter to enhance their property investment strategy - HMO (House of Multiple Occupation). The most used include:
Lead Generator™: This tool allows Phil's team to set precise criteria for property searches, filtering out unsuitable options and honing in on potential deals that meet their specific requirements, such as property size, location, and price range. |
Follow-Up Folder: This feature is crucial for managing properties they've already considered. By reviewing this folder daily, Phil's team stays updated on any changes in status or pricing, ensuring they can act quickly on promising opportunities. |
Back and Reduced Box™: This helps the team identify properties that have come back on the market or have had price reductions. By prioritising these listings, they often find motivated sellers and better deals.
Sourcing Pipeline™: Properties that pass the initial screening are moved into this pipeline, where the team conducts thorough evaluations before arranging viewings or making offers. This systematic approach ensures that only the most promising deals proceed to the next stages. Phil's team can assess deals in seconds using the built-in calculators and comparables.
Viewing Organiser: Streamlining the scheduling of property viewings, this feature helps Phil's team maintain an efficient workflow.
Phil and his Power Team identified a five-bedroom property initially listed at £210,000 using Property Filter. Leveraging a strong relationship with the agent, they negotiated the price down to £170,000 by providing a detailed scope of works, highlighting potential issues, and proposing realistic solutions. The property was in a pending Article 4 area, which required strategic planning.
Before
Phil's team undertook the conversion from a C3 to a C4 HMO under permitted development rights, with development costs amounting to £150,000. This project was funded through SSAS, which allowed for quick completion without the need for traditional bridging finance.
C3 to C4 under PD 6 bed HMO
£210,000
£170,000
£150,000
£451,000
£15,000 - £18,000
32%
*depending on void periods and maintenance costs
Upon completion, the property achieved a gross development value (GDV) of £451,000. The net cash flow ranged between £15,000 and £18,000 (depending on voids periods and maintenance), resulting in an impressive 32% ROI.
After
