This week, Simon tells you how you can replace your income with only three properties, using strategies that have worked for his many students, allowing them to achieve financial freedom.
KEY TAKEAWAYS
Most HMO properties should be making you a profit of around £1000 per month. That means that for the average person, who earns around £3000 per month, only three of these properties are required in order to replace their income.
An HMO is a property with three or more unrelated tenants. Smaller HMOs do not tend to require a mandatory HMO license. The national guideline is five or more tenants, but check with your local council.
Safety requirements should be of paramount concern as we have a legal, moral and ethical responsibility to our tenants.
Always make sure that your HMOs are better than the average types currently on the market. Mark yourself out as different and you will be rewarded.
BEST MOMENTS
'I'm going to give you some examples of mastermind students who've achieved this with just one property...'
'This is such a powerful strategy'
'The more people you have in that property, the further you can spread the cost of the bills'
'Living in an HMO is very cost effective'
VALUABLE RESOURCES
To join Simon for an in depth, online Master Class about how you can acquire your next HMO please register here www.HMOcourse.co.uk
Property Magic: How to Buy Property Using Other People's Time, Money and Experience by Simon Zutshi
To find your local pin meeting visit: www.PinMeeting.co.uk and use voucher code PODCAST to attend you first meeting as Simon's guest (instead of paying the normal £20).
iphone: http://bit.ly/pinAPP1
Android https://bit.ly/pinAPP2
Register at Mindset For Property at - www.mindsetforproperty.co.uk
ABOUT THE HOST
Simon Zutshi, experienced investor, successful entrepreneur and best-selling author, is widely recognised as one of the top wealth creation strategists in the UK. Having started to invest in property in 1995 and went on to become financially independent by the age of 32.
Passionate about sharing his experience, Simon founded the property investor’s network (pin) in 2003 www.pinmeeting.co.uk. pin has since grown to become the largest property networking organisation in the UK, with monthly meetings in 50 cities, designed specifically to provide a supportive, educational and inspirational environment for people like you to network with and learn from other successful investors.
Since 2003, Simon has taught thousands of entrepreneurs and business owners how to successfully invest in a tax-efficient way. How to create additional streams of income, give them more time to do the things they want to do and build their long-term wealth.
Simon’s book “Property Magic” which is now in its sixth edition, became an instant hit when first released in 2008 and remains an Amazon No 1 best-selling property book.
Simon launched his latest business, www.CrowdProperty.com, in 2014, which is an FCA Regulated peer to peer lending platform to facilitate loans between private individuals and property professionals.
CONTACT METHOD
Contact and follow Simon here:
Facebook: http://www.facebook.com/OfficialSimonZutshi
LinkedIn: https://www.linkedin.com/in/simonzutshi/
YouTube: https://www.youtube.com/SimonZutshiOfficial
Twitter: https://twitter.com/simonzutshi
Instagram: https://www.instagram.com/simonzutshi/
