HMOs! Are They a Recession Proof Property Strategy?
Posted by tungstenmg Last updated 11th August 2019 reading time
Welcome back to another episode of The Steven Sulley Study.
Today Steven talks to you about property and explains specifically about the HMO sector and why you should get into the HMOs now to make guaranteed money. Hop in to learn about this and much more.
HMO. This stand for house multiple occupations, it’s also referred to sometimes as multi lads.
Why you should do or be in HMOs. Number one is if the wealthier do it if they’re successful, I’ll do it, therefore I should be doing it because all you got to do in life is copy what successful people are doing, make it 10% better and you can achieve the same results if not more or better.
Number two is a great place to save your money. It can cushion you against turbulent times, I’m not saying you can’t lose money from property, generally speaking, if you hold an asset long enough, it’s going to go back up.
Thirdly, these properties are quite a lot more cash flow.
Number four is If you go to a commercial lender, they will lend you the money on the bricks and mortar, the actual property itself the asset but most importantly, the business inside that asset which is you’ve got tenancy agreements you’ve got a contract with all these tenants. There’s cash flow coming in, so they actually give you a loan also above and beyond the property itself.
HMO’s are recession proof. This is every property going on the decline. There’s never a recession in HMOs because even if the economy goes on a recession, you can still hold on to that property because the recession will eventually come to an end and the price of the properties will go up.
In HMOs, you start creating a culture and a community inside that property. If you’ve got five or six like-minded people that all been vetted and all very, very similar in regards to their outlook on life for their paradigms, these people kind of work together and they also socialize together which leads to the formation of some relationships.
“If the wealthier do it, if they’re successful, I’ll do it.”
“Money is the root of all evil as well as all positivity.”
“Money is a neutral kind of medium, it’s not bad and it’s not good.”
ABOUT THE HOST The Steven Sulley Study is my take on success. My view is you should have multiple focuses to be a well-rounded individual. Success shouldn’t be just one thing like money, for example, it should also consist of a healthy fit lifestyle and thriving relationships. As a person who has made a success in life and also made huge cock-ups I feel I can offer suggestions and tips on how to become successful or at least start your pursuit. My ‘Study’ has taken resources from reading and education plus being around, my perception, of successful people and I, know a lot of successful people from all walks of life. My ‘Study’ coming from my experiences in business, investing, sales (my core background), training, boxing and education has enabled me to become well rounded and successful.