Thank you for considering the decision to transform your life and live the life of a successful HMO investor. Also, check with your accountant as there may be a tax deduction against your business/investments (I have been told some do this).

Update Aug 24: How to save council tax during refurb, see 11.6

Update Aug 2024: Updated labour prices to reflect 2024 market

New content is regularly added. If you’re already a member or join today, all future content is included free.

Welcome – Is this right for you?

The HMO Duchess explains the fundamentals of property and HMOs. This manual is there to help put your business in a position of strength, so you are protected against external factors as much as possible. This is not a get rich quick book, this is a business manual to build a GREAT business. Ideal if:

·        ✅ You have ZERO experience in property

·        ✅ You have SOME property experience

·        ✅ You have HMO experience

·        ✅ You’re looking to build a business and make it the best it can be

·        ✅ You’re searching for deals

·        ✅ You speak English

Or you are:

·        ✅ A Brand New HMO Investor (£0 net worth) – Step by step guide

·        ✅ An experienced HMO Investor

·        ✅ ALSO useful for: property managers, estate agents, mortgage brokers, accountants, interior designers, solicitors and industry members (clients expect you know this stuff, so why not make sure you do?)

HMO Duchess’s Mission Statement:

❇️ To teach the detailed specifics of what is involved in making a truly GREAT HMO. This means knowing more than “Yield” and “ROI” and some other basic property topics. This is much more. THIS is my business written down for my benefit as much as yours. The manual also teaches the psychology needed to succeed as a property investor long-term, the craft of design, and how to ensure strong cash flow.

What You Get:

·        ✳️ Over 230+ High Quality Sub Chapters with 60,000+ words of concise content

·        ✳️ Downloadable Files you can use to make your own calculations

·        ✳️ Lifetime access to written content

·        ✳️ My mood boards for the designs, paint, accessories, wallpaper and suppliers used

·        ✳️ All new updates and content available. (Example: interior design trends or law changes)

·        ✳️ Comments reviewed regularly and HMO Duchess will always help where possible

You Will:

·        🔰 Learn how to provide a co-living product to beat your competition

·        🔰 Learn how to ensure strong cashflow

·        🔰 Learn how to build your net worth with below market value deals

·        🔰 Learn how to communicate with builders, estate agents, mortgage brokers, suppliers, to get the best DEALs and make them operate smoothly.

·        🔰 Actually understand not just the textbook fundamentals of HMOs, but how it makes you stand out from the competition

·        🔰 Assess HMO demand in your area

·        🔰 Learn about the threats to this business - It’s not all rosy

·        🔰 Once you master your own HMO business, other lifestyle goals will be easier to attain

Notes:

·        ☑️ Content will continue to be added FOR FREE as time goes on

·        ☑️ Content will continue to be available after purchase with lifetime access

·        ☑️ You can search my reputation and content on Facebook and Instagram, and see that my reputation is very important to me

·        ☑️ At some point into the future, new content may reduce. All previous content remains available for life.

Targeted Students

This manual covers a wide range of content for all investors, including beginner, intermediate & advanced investing topics.

·        New Investors will learn from beginner knowledge on how to start, at any age. For homeowners and non-homeowners.

·        Advanced Investors may benefit from a new perspective on topics they thought they were already experts on (such as dealing tenants post 2020, what tenants are looking for today, compared to 10 years ago, and how your product can stand out among the growing competition).

Is this also good for International Investors outside the UK?

🛄 Yes it could be. HMO’s can be very specific to the UK as they effectively work around the strict laws given to landlords. However, there certainly will be content that could be applicable to someone outside the UK. UK Interior design for example is appreciated globally, you could see timeless British touches in a Beijing hotel and you might be able to apply some ideas and concepts to your area. This is why the manual is there for all to judge and assess, rather than simply copy, as areas all vary in some way. One of the best parts of Property is that it is a local business, so you will be able to adapt the HMO Duchess model to fit your area.

The Contents

In this manual, The HMO Duchess explains the fundamentals of her business. No matter what your experience level is, there is no stone unturned. We cover it ALL.

Think of this as your ultimate manual to all things HMO!

Contents (Even more will be added over time): 📣

1 Welcome and News

  1.1 Manual Overview & Introduction

  1.2 How to make the most of the manual

  1.3 Critical finance numbers for HMO success

  1.4 Tasks to complete NOW

2 Mindset

  2.1 Manual Overview & Introduction

  2.2 How many rooms in the dream HMO?

  2.3 Should I quit my job?

  2.4 Personality of the HMO Investor

  2.5 Communication tips

3 The Business Model

  3.1 What is an HMO?

  3.2 Why you should NEVER use the term “HMO” in front of your tenants

  3.3 HMO versus other property models

  3.4 SWOT analysis

4 Your Circles

  4.1 Your Primary Circle

  4.2 Your Secondary Circle

  4.3 Power Team! All members of the team and what to look for, along with contact details

  4.4 Builders & Building Control

  4.5 How to treat your power team

  4.6 Estate Agents Relationship

  4.7 Partners and Joint Ventures

5 Your Area

  5.1 The Location

  5.2 How to Test the HMO Demand in Your Area

  5.3 Weighing HMOs against other property strategies in YOUR AREA

  5.4 Article 4

6 Property Hunting

  6.1 “The Magic BMV Deal Generator” Myth

  6.2 How to get ACTUAL Below Market Value Deals

  6.3 Spotting Deals in Your Area

  6.4 Online Agents

  6.5 Modern Method of Auction

  6.6 Auctions

  6.7 First Time Buyer

  6.8 Pickiness Fallacy

  6.9 Biggest Purchase of your life

  6.10 Quick trick on calculating Yield

7 Finance

  7.1 Economy Overview

  7.2 The 18 Year Property Cycle

  7.3 What factors affect house price growth?

  7.4 Credit Score and Debt

  7.5 Identity Theft and Bank Freezes

  7.6 Hide your Name and Address from Public Records

  7.7 Ltd Company Setup

  7.8 Why You Should Have Your Own Management Ltd Company

  7.9 The Dream Finances (Excel Download)

  7.10 The Saving Plan (Excel Download)

  7.11 Key Metrics - Gross & Net Yield, Return on Capital Employed & Operating Profit

  7.12 Loan Terms and Conditions, What Does the Small Print Really Say?

  7.13 Early Repayment Penalties

  7.14 Fixed Debt Dream

  7.15 Interest only v. Repayment Mortgages

  7.16 Fixed or Variable? 2 Year or 5 Year or 10 Year?

  7.17 Mortgage Offers, How reliable are they?

  7.18 Renovation Loans

  7.19 Quick Trick to Calculate Monthly Mortgage Payments

  7.20 Portfolio Loans

  7.21 How to interact with Valuers

  7.22 Accountancy Methods

  7.23 Insurance for Occupied and Unoccupied Property

8 Mortgages

  8.1 Do this Now

  8.2 Benefits of Having one

  8.3 Is there a benefit to putting more than 10% or 25% down on a property?

  8.4 Will my loan be sold?

9 Valuation

  9.1 How to be an Expert Valuer

  9.2 When is a property NOT on the market?

  9.3 Is it good for properties to be on the market for months?

  9.4 Median Value

  9.5 The KEY to Making Good Valuations

  9.6 After Refurb Valuation Formula

  9.7 Pricing Based on Square Footage?

  9.8 Comparisons

  9.9 Super Fast Way to calculate your maximum purchase price

  9.10 How Much Can I Negotiate?

  9.11 How To Destroy Your Relationship with an Agent

  9.12 The BEST time to Buy Below Market Value Deals

  9.13 What to Bring on a Viewing

  9.14 What to Look for on a Viewing

  9.15 What to Say on a Viewing

  9.16 Parking Spaces

  9.17 Front and Back Gardens/Courtyards

10 Negotiation and Conveyancing

  10.1 Asking the Sellers Questions

  10.2 The BEST Question to Ask in Negotiations with Sellers (EFFECTIVE)

  10.3 How to use that information: With Agents

  10.4 Offers “In Excess Of”

  10.5 Properties Subject to Close

  10.6 Your Offer – A Love Letter (Download)

  10.7 Terms to Give with Your Offer

  10.8 Offer Rejected, what next…

  10.9 Things to do Immediately Once Offer Accepted

  10.10 Conveyancing

  10.11 In-Deal Negotiations as a Buyer

  10.12 Asking for Repairs

  10.13 What to do before Exchange

  10.14 What to do before Completion

  10.15 CHECKLIST - First Night Owning the Property

11 Closing Costs

  11.1 Insurance Options

  11.2 Solicitor

  11.3 Stamp Duty

  11.4 When you could save thousands on stamp duty

  11.5 Mortgage & Broker Fees (Very Important)

  11.6 Council Tax

  11.7 THIS Council Tax tip will save you hundreds of pounds

  11.8 House Bills

12 Surveys

  12.1 Types of Surveys Available

  12.2 Should You Get a Survey?

  12.3 Foundation Issues

  12.4 Damp & Mould

  12.5 Chimney Stack

  12.6 Boiler

  12.7 Asbestos

13 Interior and Exterior Design

  13.1 Your Renovation Attitude

  13.2 Do THIS Before Any Renovation Begins

  13.3 How To Keep The Technology Ahead of the Curve

  13.4 Keeping the Character of the Property

  13.5 The Floorplan and Your Architect

  13.6 Minimum room sizes

  13.7 How many Bedrooms in each Property?

  13.8 How Big do Bedrooms REALLY need to be

  13.9 Should I add En-Suite Bathrooms?

  13.10 Showers, Baths and Sinks

  13.11 Communal Space (Lounge), Yes or No?

  13.12 Bike Parking

  13.13 Do I give Car Parking?

  13.14 Why you need a Garden or Courtyard

  13.15 Fads and Trends

  13.16 Kitchen

  13.17 How Many Kitchen Cupboards Do I Need?

  13.18 Do I need a Dishwasher?

  13.19 Crockery

  13.20 Dining Area

  13.21 Hallways

  13.22 Interior Paint Colours

  13.23 Exterior Paint Colours

  13.24 Which Flooring Type to Use?

  13.25 Living IN a Renovation

  13.26 ALL Builders HATE When Clients Do this

  13.27 Life Expectancy of your HMO

  13.28 Furniture and why Bespoke Furniture WINS

  13.29 Interior Design Mood Boards

  13.30 The Windows You MUST Buy

  13.31 Doors & Locks

  13.32 Save on Those 2am Phone Calls with this Tip

  13.33 To Integrate or Not to Integrate, White Goods

13.34 Floorplans & How to Analyse the Deal

14 Suppliers & Systems

  14.1 Doors

  14.2 Solicitor

  14.3 Mortgage Broker

  14.4 Insurance Broker

  14.5 Decorators

  14.6 Bridging

  14.7 Windows

  14.8 Locks and keys

  14.9 TV’s and brackets

  14.10 Broadband and Netflix

  14.11 Furniture

  14.12 Plumbing Systems, Heating, Boilers, Water Pressure and Showers

  14.13 Electrical Systems

  14.14 Fire Alarms

  14.15 Building Control

  14.16 Architect

  14.17 Structural Engineer

  14.18 Paint and Wallpaper

  14.19 Flooring – Carpets, Lino, Laminate, Wood and Engineered

  14.20 Bike Parking

  14.21 Smoke and other types of Alarms

  14.22 Asbestos

  14.23 Guttering

  14.24 Technology

  14.25 White Goods

15 Getting Ready To Let

  15.1 Staging

  15.2 Photography

  15.3 Air BNB Test

  15.4 How to Calculate Your Rent Charge

  15.5 Marketing

  15.6 What if Hardly Anyone is booking a Viewing?

  15.7 Do This Before ANY Meeting a Prospective Tenant

16 Managing Your Property

  16.1 Why I will NEVER use a Managing Agent

  16.2 Viewings

  16.3 Aim for Zero Voids – vet your tenants this way.

  16.4 The Type of People to Get Along

  16.5 First Day

  16.6 Move In Inspections

  16.7 Move Out Inspections

  16.8 Deposits, Yay or Nay?

  16.9 New Tenancy Forms (Downloads)

  16.10 Assured Tenancy Agreements (AST) – (Download)

  16.11 Rent Payment Method

  16.12 This TIP will make Rent Collection Less Painful

  16.13 Communication

  16.14 Tenant hasn’t paid? DO THIS to get paid and stop it happening again

  16.15 House Culture

  16.16 Tenant Makes a Special Request…

  16.17 Any Issues, you MUST do this

  16.18 Ordinary Wear And Tear

  16.19 Should I do the DIY myself?

  16.20 The Internet

  16.21 Evictions

17 Other Investing Models

  17.1 BRRR with HMO’s

  17.2 Flipping Pros and Cons

  17.3 Rent2Rent Pros and Cons

  17.4 Serviced Accommodation (Air BNB)

  17.5 Lodgers – Living for Free

  17.6 Pensions

18 Property Types Analysis

  18.1 Single Let

  18.2 Detached, Semi Detached and Terraced

  18.3 Existing HMOs

  18.4 Mixed Use Commercial and Residential – Once in a generation opportunity!

  18.5 Blocks of Flats

  18.6 Single Flats

19 Quick Tips and Things To Avoid

  19.1 Messing with Banks to Build Wealth

  19.2 “Never Enough” Fallacy

  19.3 Passive Income

  19.4 Joint Ventures

  19.5 Rent Guarantee and Corporate Landlords

  19.6 Downside of Penthouse/Top Floor Flats

  19.7 Pay Your Taxes

  19.8 Keeping on top of changes in Property

20 How To Begin

  20.1 With £20,000

  20.2 With £50,000

  20.3 With £100,000

  20.4 With £250,000

  20.5 With £500,000

  20.6 Special Notes for Investing at 19

  20.7 Special Notes for Investing at 30

  20.8 Special Notes for Investing at 50+

  20.9 Should You Time The Market?

21 Case Examples

  21.1 Before and After Photos

❎I am not an accountant, solicitor, insurer, or financial advisor and the information in this manual shall not be construed as tax, legal, insurance, or financial advice. If you need such advice, please contact a qualified accountant, solicitor, insurance agent, or financial advisor. Linked items may create a financial benefit for HMO Duchess, Two Ravens Limited, company number 09846309 © 2024