Hi Gazza21,

Yes, we turn property into multi let and vendor is always aware of it.  Gazza, are you based in UK?

Most of the times we don't need HMO license, because in area we invest, we need license for properties which are more than 3 levels, we simply choose properties that are 2 levels, mostly they are 4 bed and 2 reception – so we still have 6 room to rent out.

We always provide smoke alarms to all habitable rooms, sprinklers, emergency lighting, fire extinguishers… But we don't really remove all features we have provided, only thing we remove from property after agreement is expired is our own furniture if it is in good condition. 

Hi Mattnz,

Thank you for asking this questi.on. 

In other words we could call it as sub-letting. We lease property from landlords for usually 3 – 10 years with their written permission to  sub let it by rooms. We pay landlord guaranteed rent with no void periods, we manage and maintain property and we let it out on room by room basis. 

Hope it helps.

Also, if anyone is interested with help of our mentor we have found out answer how to structure this deal.

We will buy it as 2 separate 4 bedroom houses for £600k cash, as on title they are still as freehold houses. 

Then we will give notice to tenants to empty all 6 flats, we will gather all paperwork to register them as separate flats. After we will divide freehold in 6 leases. Do major refurbishment and after a year when all work is completed we will sell every single flat in auction for  aprox. £990k.

Hope this will help anyone who was facing similar question. 

Hi Jamie,

It is UK – London.