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In this episode of the HMO Property Show, host Neil Gibb shares his expertise on converting established properties into Houses of Multiple Occupancy (HMOs). With the property market in Perth, Australia, experiencing significant price increases,
Gibb discusses the challenges of finding suitable properties for HMO conversions and the strategies he uses to identify and evaluate potential opportunities. Gibb walks viewers through the process of analyzing floor plans, estimating conversion costs, and calculating potential rental income for several example properties.
He highlights the importance of maintaining adequate common areas and ensuring the bedrooms are of a suitable size to provide comfortable and affordable accommodation for tenants.
[00:00] Introduction to the HMO Property Show and the current property market in Perth
[02:30] Strategies for searching for and evaluating established properties for HMO conversion
[06:00] Analyzing a 4-bedroom, 3-bathroom property in Rivervale
[16:00] Exploring a 4-bedroom, 3-bathroom property in Hocking
[33:00] Reviewing a 3-bedroom, 2-bathroom property in Rockingham and discussing the limitations of smaller properties for HMO conversion
Throughout the episode, Gibb shares his insights and experiences, providing valuable information for both seasoned investors and those new to the world of HMO property investing.
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Disclaimer
Nothing on this channel should be considered tax, financial, investment or any kind of advice. Everyone should do their own due diligence as only a professional diagnosis of your specific situation can determine which strategies are right for your situation. Our goal is to frequently feature edgy and actionable value, thought leadership and property/investment strategies.
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