Febuary 2009
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Jim Haliburton., HMO Daddy
What a great night we had at Leeds Property Networking event. Jim Haliburton braved the traffic and overcame various challenges to entertain a room full of eager investors and property professionals on all matters HMO.
It was great to see so many new faces, as well as some of the regulars. Some of us even managed to steel ourselves away from The Study to head over to the local curry house to finish off the night with Jim.
Jim began buying property in 1992 and letting his houses to students, organising or doing the work on the property himself. The tenants/students all came from the College where Jim worked as a lecturer.
In July 2003 Jim left his job as a College Lecturer and decided to invest in property full time. At that point he set himself a target to purchase a further 50 properties before the buy-to-let boom finished. In the end it took him 18 months, and though prices have stopped rising as fast, the lenders still seem keen to lend and there seems no end to the interest in buy-to-let.
Jim now owns over 86 HMO's / Multi-Lets with over 500 tenants. On top of this he has about 20 houses and flats which are let as single-lets plus several development projects in progress. He keeps on telling himself to stop buying property and consolidate his position, but anybody in the property business will know how difficult it is to stop buying once you have started.
Having left his post as a Lecturer, he needed a teaching outlet so began holding small workshops for property investors interested in the HMO side of the business. At this event Jim gave you a flavour of:
- How easy it is to set up a HMO;
- How to triple your income;
- Regulations in setting up HMO;
- How to select the right property;
- How to select the right tenant;
As usual, we will bring a variety of property experts to you, sharing their own strategies to help you plan the year ahead.
