048 | The Ultimate Guide to Funding your first HMO Property

RESOURCE LINK Sign up to the pre-launch notification list for Jamie’s new book, “The HMO Blueprint” here (https://www.thehmoblueprint.co.uk/hmobook) The HMO Experience Website (http://www.thehmoexperience.co.uk/) Download How to find your First HMO Property and other FREE RESOURCES (http://www.thehmoexperience.co.uk/resources-page) Sign up for weekly hacks and tips for starting and scaling your HMO Property Business (https://www.thehmoexperience.co.uk/subscribe) IN THIS EPISODE Your hosts Matt Harris and Jamie Madill tackle the third biggest challenge identified in The HMO Experience community - how to fund your first HMO property deal! It’s all well and good building the knowledge and finding your first property, but how do you finance your first deal once you’ve done all the hard work? Don’t forget to download The Ultimate Guide to Funding your HMO Property Business as an accompaniment to this episode as well. EPISODE HIGHLIGHTS Introduction [00:00 – 03:30] Using Your Own Cash - [03:30 – 09:13] Leveraging Bank Lending [09:13 – 26:15] Bridging Loans [26:15 – 34:15] Working With Joint Venture Partners – [34:15 – 45:00] Jamie’s Last Word [45:00 – 48:04] KEY TAKEAWAYS Using your own cash where you can is the most cost effective way of purchasing property, as you don’t have the interest cost to fund. Independent finance brokers have access to whole of market products. Your broker needs to be flexible and creative to ensure that you get the best finance options If you’re going to work with other peoples money ensure that you understand the FCA requirements so you don’t get into trouble BEST MOMENTS “Money is relatively cheap right now so check out the best rates you can get by leveraging your broker” “When using bank finance ensure that you have access to a really good independent finance broker" “Use cash where you can as it’s the most cost effective way to finance your projects” The HMO Blueprint book launch on 26th October 2020 Jamie Madill, co-host of The HMO Experience Property Podcast, is about to launch his brand new book “The HMO Blueprint” and you could win some amazing prizes if you hop onto our pre-launch notification list. So get on the launch list right now and we’ll see you on launch day! https://www.thehmoblueprint.co.uk/hmobook CONNECT WITH THE HMO EXPERIENCE Subscribe on YouTube - https://www.youtube.com/channel/UCnFoaXd-do8eTxZniWrcKhA/featured Follow Us on Facebook - https://www.facebook.com/thehmoexperience CONNECT WITH THE HOSTS Matt Harris - https://linktr.ee/iammattharris Jamie Madill - https://www.facebook.com/jamiemadillproperty/