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37 Reviews
5 star:
 (29)
4 star:
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3 star:
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2 star:    (0)
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8 of 8 people found the following review helpful
4.0 out of 5 stars Good advice overall but not perfect
I currently own two HMOs and have managed them myself for the last 8 years so I have a lot of experience in this myself. However, my experience is in management, not sourcing and purchasing the properties myself. This is the advice I was looking for and I found this book to be quite helpful in this field. Whilst it's not overly detailed it still does give enough...
Published 4 months ago by Kia

versus
3.0 out of 5 stars A quick, useful read but some way short of a genuine 5 star benchmark
Some decent information and to-do points for starting out in the world of HMO's, however it did have a feel (like many others in this niche) of actually being a vehicle leading the reader directly to his consulting services and/or other (much more costly) products rather than being the full story in itself.

On a personal level I'm also not a big fan of the...
Published 7 months ago by R. Ford


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8 of 8 people found the following review helpful
4.0 out of 5 stars Good advice overall but not perfect, 12 Jan. 2015
Verified Purchase(What is this?)
I currently own two HMOs and have managed them myself for the last 8 years so I have a lot of experience in this myself. However, my experience is in management, not sourcing and purchasing the properties myself. This is the advice I was looking for and I found this book to be quite helpful in this field. Whilst it's not overly detailed it still does give enough information for you to work with and think about in this area.

The reason I do not give this book a 5, is because I fundamentally disagree with a couple of points that the author has made about managing the property. Firstly, he almost practically dismisses reference checks altogether where you're only renting a room to a tenant as opposed to a whole property. This does seem to explain to me why he seems to go through more tenants than I do. For £25-£30 you can hire a company to do a credit check, obtain an employer reference and a previous landlord reference. They will then, based on that information tell you how suitable the tenant is (though you can figure that out for yourself). The whole process usually takes no more than a couple of days. Combined with the viewings I do personally, as a result, in 8 years, I have NOT had one tenant default on rent in a HMO (that's not to say it won't ever happen, but it does speak volumes). The time and little money you spend vetting a tenant will pay off in dividends after. Don't skimp on this process.

Secondly, there is no mention of how to fund major repair work and maintenance. As an example, in the space of 3 years I had to replace two boilers (at a cost of £2500-3000 each). If it wasn't for the fact that I put 10% of the rental income I earn from a property into a 'reserve fund' (savings account) purely for this purpose, every month my monthly income would fluctuate dramatically. But thanks to this reserve fund, my disposable income remains steady throughout the year. Another example, because of the size of properties I have, insurance costs circa £700 a year (and that's after a lot of shopping around), I also pay this in a lump sum. So I do strongly recommend thinking about how you are going to finance the larger expenses.

But nonetheless I still think the author gives a lot of useful information for a HMO beginner and for that reason I think it deserves 4 stars, there are just a few minor things which I disagree with, but then everyone will have their own way of managing things. I know I can't be going far wrong as some of my tenants have stayed over 10 years, most at least a few years, unlike the 6 months to a year the author quotes.
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7 of 7 people found the following review helpful
5.0 out of 5 stars great read for property investors everywhere., 20 Dec. 2013
By 
Mr. M. Patel (UK) - See all my reviews
(REAL NAME)   
As an experienced property investor myself, I have been looking at investing in HMOs for the past 12 months and Nicks book has been a great education for me to understand the HMO business model.

I do like Nicks straight forward, no nonsense approach, it makes for an easy read and very clear to understand what you're investing in and how to generate the positive cash flow from a HMO property.

I would recommend this book to anyone investing in HMOs, even if you're experienced HMO landlord, you'll still get some benefit and learning from Nick, and at under a tenner it's an absolute bargain..

Happy reading and happy investing..
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3 of 3 people found the following review helpful
5.0 out of 5 stars Best Property Investment Book, 17 Nov. 2013
I've been a property investor for a number of years now and having decided to move into the HMO business I decided to buy this book. I must say, I was not disappointed. Not only is this book sensible and practical, it is packed with useful advice and tips that will elevate anyone (who takes the initiative to follow the strategy) to a position whereby they can thrive in a life of financial freedom.

The author (Nick Fox) is obviously a down-to-earth and successful investor. This no-nonsense approach will guide anyone who is interested in the HMO market into a successful investment; unlike many other publications that purport to be able to help people "get rich quick" with "no money down"; this insightful guide is realistic and proven.

This book is the tool that will save you money by steering you away from making the mistakes of a novice; a small investment that can you 1000s on an uninformed decision.

There aren't many books that I buy read and review in a day. That tells you something!!
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3 of 3 people found the following review helpful
5.0 out of 5 stars Expert guide to property investment!!, 27 Nov. 2013
As a newby to the property world, I could not have asked for a more detailed step by step guide to HMO investing. This is an easy to read book that contains great tips not only for your due diligence but also for your education, it is clear to see that Nick has a wealth of knowledge and is very detailed and to the point with what he does thus getting to where he is now. It has definitely helped my knowledge and understanding of this marketplace thus putting me one step closer to becoming a full time investor and becoming financially free!

A must read for all looking to invest in property, whether just starting out or a senior pro! Happy reading!
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2 of 2 people found the following review helpful
5.0 out of 5 stars Practical and credible advice - true value, 17 Nov. 2013
Property investment is exciting but it can also be scary and overwhelming. We are new to property investment and have read a number of books on the subject. There are many books that make it sound easy. There are many books that make it sound complicated. HMO Property Success does neither. What sets Nick Fox' book apart is the amount of practical detail and advice. Most property books tell you about how to get in a right mindset. This book tells you how to start and run a successful profitable business on your own terms. It provides a solid and clean framework and a step-by-step guide on how to find, fund, fill and run a profitable house in multiple occupancy. Nick breaks down every step of the way - from house hunting to finding and retaining good tenants. This book has no fluff. It is full of added value content. We are no property investment professionals and were investigating what property can do for us, a regular family with full time jobs. This book provided us with a road map of how to get where we wanted to go. This is a very valuable and easy read. You don't have to have any experience in property investment to benefit from this book. We highly recommend it.
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2 of 2 people found the following review helpful
4.0 out of 5 stars my thoughts, 24 Nov. 2013
This is a very informative and detailed book.

The author states you need atleast 50k per property, I would bear that in mind for future readers.

The author is clearly very knowledgeable. But the book read like a textbook at times. In my opinion the book would have been an easier read if he included more of his story and how he 1st started out in property.
I feel if he included more real life examples it would have given me more of an insight.

But for the price it is still great value and i would still recommend it.
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2 of 2 people found the following review helpful
4.0 out of 5 stars Great book - especially for those looking to start building a HMO portfolio, 28 Mar. 2014
Verified Purchase(What is this?)
Hi,
A great book for anyone new to the HMO market.

I'm not new to property but am about to start building a HMO portfolio and this book gave me some excellent advice not available in other publications. It also gave me the confidence to proceed down the HMO route!
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1 of 1 people found the following review helpful
5.0 out of 5 stars hmo property review, 10 Dec. 2013
Nick Fox is a very experienced property professional-his book mirrors his attitude on setting goals, why you want to invest,the pro's and cons of this type of investment and how to minimize risks and properly manage a growing portfolio.

I have personally met Nick and visited his Hmo portfolio, his advice and sound knowledge has helped me to set a clear investment strategy which enabled me to buy, fit out and lease my first Hmo property this year.

This book is not a get rich quick formula but a clear and concise way of how a Hmo property investment strategy can be put into action-buy it, read it, do it.

The results are worth it.
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1 of 1 people found the following review helpful
5.0 out of 5 stars Step by step guide to HMO investing, 1 Dec. 2013
Verified Purchase(What is this?)
This book is a practical, no nonsense guide to the art of hmo property investing. It provides a clear structure on how anyone can source suitable properties, refurbish if required, find good tenants and ultimately run a successful hmo property business. It is rare in a property book of this kind to find so much solid advice and what must have been hard-earned knowledge - in comparison most other books on the subject provide next to no real information on how to get started. For this reason alone, this book is great value and is an easy 5 star book review. Everyone thinking of getting into hmo property investing should buy this book!
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1 of 1 people found the following review helpful
5.0 out of 5 stars A MUST read for any HMO owner or investor., 23 Jan. 2014
This is the kind of book everyone interested in HMO property should read as it is concise, well written, well informed and very practical. No stone unturned is how I would best describe it, Nick covers everything and its all very well laid out and easy to understand. I have many other property books but this is by far the best and amust for anyone wanting to invest in HMO property. Quite simply, this is one of the easiest to read and most enjoyable books about HMO property out there.
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