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on 12 January 2015
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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on 21 February 2016
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!
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on 10 March 2016
HMO is a delicate subject as it requires close attention to the tenants and there is a high probability of problems.

However, the book is worth reading just for additional information and a new perspective as an investor.

Worth the read.
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on 6 October 2014
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 matey-matey writing style as it seems unprofessional, but I know that works for others.
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on 1 December 2013
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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on 23 July 2015
Fantastic book by Nick Fox. I would definitely recommend this to anyone looking to start in the property game. It's full of great insights and also has handy check lists at the end of each chapter. I also would like to meet Nick for a one-to-one from reading the reviews from his students. Win win win with this investment in your future business.
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on 5 February 2014
As new in property investing I would not have asked for a more down to earth advise. Nick's step by step advice in investing prepares you to what you may face in the future. There are no hard sells, no "get rich" quickly advice, it simply tells you that his investment strategy has proven to give successful results. I have been to many property seminars where these "property mentors" try desperate to sell their knowledge, their software, their ways of getting rich which unfortunately are sometimes illegal. I am looking forward to have Nick mentor me into my first investments properties, I know it will be challenging but hopefully rewarding.

I strongly advice you to read this book if your are serious about investing.
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on 1 July 2015
A no nonsense look at property investing. A lot of what Nick says is transferable to other methods of investing and instead of trying to sell you something he gives detailed guidance on what needs to be done and what to look out for. I will be using the book like a manual!!
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on 4 November 2014
This book offers a great overview on how HMO's can be used as a great strategy for investing in property. I found it easy to read, and it was full of great tips.

Before buying this book I had been told the author was a very successful HMO investor, and the content in this book clearly demonstrates that he knows his subject.

For the price, I have no hesitation in recommending this book to anyone who is serious about investing in HMO's.
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on 31 January 2016
As a single let investor and looking to embark on doing my first HMO I needed to find some one that has been there and done it, it covered everything i needed to know to create my first HMO.
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